Glass is ALWAYS half full on CNBC
posted on
Apr 04, 2008 08:08AM
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I have to give CNBC credit for their ability to see blue skies on even the cloudiest of days. With the sole exception of Jim Cramer, who has been the only clown on this ship of fools to suggest there is more money to be lost in this market than made, these guys continue to call bottom after bottom after bottom.
A moment ago, they had an analyst suggest that todays job numbers, which were the WORST IN FIVE YEARS! Yes, that's right worst since the aftermath of the tech meltdown, which really makes it worse since that was a sector specific downturn and was the result of bubble popping while now it's just a big broad downturn... What are we in 4 months straight now?
However, this analyst was able to suggest that these numbers were actually good. He said "demographics are changing" and said that with baby boomers retiring, the employment pool is actually shrinking in a normal and expected way. His suggestion was that we could expect 100,000 more jobess just because the boomers are leaving the workforce so dropping 80,000 jobs is almost like an increase. (he didn't use those exact words but that's what he implied).
Now they're talking about how the avg hourly rate was up... and that's a good sign.... YA buddy.. WE CALL THAT INFLATION. READ IT... INFLATION... INFLATION....
BUY GOLD, BUY SILVER AND BUY MINERS because if dropping 100,000 jobs a month and rising wages is a good thing, I'd hate to see what bad news is to come!