May 8, 2020: The unemployment figures and "expectations"

[Remodeling Maidiac]

For the last few weeks we've shifted from the generalized panic following the onset of the pandemic to the "expectations game". Going forward, markets, business behaviors and consumer sentiment won't be based as much on raw data as they will be by how the data compares to "expectations".

So who is in charge of establishing these "expectations"? Well, that's a great question. First, it's almost irrelevant, since the expectations are taken very seriously by markets. But it's generally a rough average of reports by analysts at a few of the larger banks, analytical firms, investment companies and others.

So, the "expectations" of today's upcoming report is that the economy lost about 22 million jobs and the unemployment rate is at about 16%. So if the actual data -- even though it will be adjusted later -- is below those numbers, markets will love it. If the actual data is worse, not so much.

This is a moment in history at which the stock market and the economy are so decoupled that they don't resemble each other at all. The dichotomy of millions losing their jobs and a surging stock market has been astonishing. But right now, the key word is "expectations". So we'll see.

Just proves how massive government spending benefits big corporations, while doing little for small business.

The politicians know where their bread is buttered.

Yet another signal of a dying empire.

Yep. We allow money to control our political system, and that's exactly what it's doing.

we're allowing $$$ to manipulate everything Mac
including Doc fucko's vaccine ,the pharmacabal's piece of the pie, the police state's new jackboots ,and did i hear Congress got a raise in all of this???

~S~

Capitalism is changing before our very eyes. The most important element of the capitalist system is no longer the consumer, it's the Federal fucking Reserve.

Not the way this is supposed to work. Something is broken.

It broke when they started demanding business licenses from children's lemonade stands.