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October Jobs: Uh Oh!

Friday, 02 October 2009 12:37

I have been saying this for some time on this blog, but people seem to be shocked that we are losing jobs at a faster rate than these moron economists thought. We are not creating jobs as we have below trend economic growth confirming my suspicions that what we saw over the summer was a US government fueled rally thanks to cash for clunkers.

Anyone that thought this economy was out of the woods should have their heads examined and check their CFA degree at the door. The pressure of the quarter being over and some bad economic news, and that October has been a scary month for the markets historically are adding gas to what may be a bonfire of a correction in this market.

It will be fun to watch and hopefully this keeps the volatility up for us intraday traders for a while. Looks like another bubble going pop to me.