Authored by Howard Kunstler via Kunstler.com,
Can you see those swans coming in for a landing on Pond USA? They’re not exactly black swans, because you knew they were out there circling, but they’re dark enough against the twilight’s last gleaming to give you the heebie jeebies.
While we suggested that the lack of a solid rebound in average hourly wages clouded the Fed's intentions on future rate hikes after March, Goldman had no such doubts and in a report issued moments after the "solid jobs report", Goldman's chief economist Jan Hatzius revised his forecast for upcoming FOMC moves, pulling forward the next two rate hikes, expecting interest rate increases in March, June and September, up from the previous March, September and December.
Via Jim Quinn of The Burning Platform blog,
In Part One and Part Two of this article I revealed how the Deep State’s fake data and fake news propaganda machine can be overcome by opening your eyes, observing reality, understanding how Fed created inflation has destroyed our lives, and why the election of Trump was the initial deplorable pushback to Deep State evil.
Following Wednesday's blowout ADP report, which printed some 40K jobs higher than the highest estimate, the only possibility for tomorrow's nonfarm payroll report, the last major economic data point before the Fed's March 15th rate hike announcement, is to disappoint, especially in terms of wages (which in light of the recent downward revision of Q1 GDP by the Atlanta Fed to 1.2% is not out of the question). That possibility, however, is slim to none if one looks at Wall Street's forecasts, where virtually every sellside analyst boosted their NFP estimate in the hours after the ADP number.
Via RealInvestmentAdvice.com,