BLS Non Farms & Optimism
I left a comment at Dave Altigs Macroblog in response to his post regarding Noise in Non Farms Payroll.
I thank Dave for responding in kind with valuable information regarding the nature of the BLS data revisions titled Jumping to Conclusions.
Trying to keep an optimistic view and not wanting to be a "Purveyor of Darkness"...
I think there are undercurrents of growth in the economy which are not readily apparent to the numbers, due to latencies and inaccuracy in the various reporting mechanisms.
Even with energy perhaps proving to be "elastic in the basket" vs inelastic, I feel that the consumer is almost at the end of the rope.
I hope that Corporate America takes is turn to step up at the plate. As in, domestic capital expenditures which yield organic job growth in sustainable economic activity within our borders.
Fruition of the undercurrents is the medicine du jour. Translated, real jobs, with decent pay & benefits, in activities other than money shuffling or McJobs in hospitality and service industries.
If this does not occur and soon, the old adage goes, "we catch a cold, the world catches the flu." The impending "recession" could spread globally and turn into a depression, me thinks just after the 2008 Summer Olympics in China.
I thank Dave for responding in kind with valuable information regarding the nature of the BLS data revisions titled Jumping to Conclusions.
Trying to keep an optimistic view and not wanting to be a "Purveyor of Darkness"...
I think there are undercurrents of growth in the economy which are not readily apparent to the numbers, due to latencies and inaccuracy in the various reporting mechanisms.
Even with energy perhaps proving to be "elastic in the basket" vs inelastic, I feel that the consumer is almost at the end of the rope.
I hope that Corporate America takes is turn to step up at the plate. As in, domestic capital expenditures which yield organic job growth in sustainable economic activity within our borders.
Fruition of the undercurrents is the medicine du jour. Translated, real jobs, with decent pay & benefits, in activities other than money shuffling or McJobs in hospitality and service industries.
If this does not occur and soon, the old adage goes, "we catch a cold, the world catches the flu." The impending "recession" could spread globally and turn into a depression, me thinks just after the 2008 Summer Olympics in China.
Comments