August 8, 2017
The lame street ‘fake news’ media was going nuts with last Friday’s job numbers. It was absolutely stunning to watch.
But what happened? The stock market was flat. Why? Because everyone knows the government numbers are a fraud. Copied below, from http://www.investyourself.com is the REAL story. (You can subscribe to their weekly newsletter)
It’s things like Friday that make me want to buy more gold and silver. See, Friday was the non farm payroll report. When it hit, the headline said that we had created 209,000 new jobs last month. The Talking heads on TV were giddy, saying it’s a great number and blah blah blah.
Well here’s the skinny on it all. The BLS injected 158K jobs into the report via their “birth/Death” model. Once again for anyone that doesn’t know what that is, the BLS says “for every company that shuts down and lays off, some of those laid off go out and open a business. Then they hire people”. So, with NO proof if these jobs, no tax receipts, etc, they just “guess” each month at how many that is. This month they say 158K magically appeared. Yeah. Right.
But worse and worse by a long shot was the composition of the jobs. In July 393,000 part time jobs were added, offset by a drop of 54,000 full-time workers. Now let me ask you something. With the DOW at 22K, with Price to sales, price to book, price to earnings at nosebleed levels, are you going to tell me that 400K “gig jobs” are supportive of such a strong market? PLEASE.
Once again we see that this market is NOTHING about the real economy and everything about multiple Central banks running QE ponzi schemes.
We own Iron Mountain Corporate Bonds in the Core Portfolio. Here is a link to a positive article on this Company—we have always considered this position to be a little risky but it looks like Iron Mountain is doing well. The bonds are not a good buy right now BUT you may want to consider buying the stock.
Symbol: IRM. Currently paying 6%.