Friday’s Jobs Report Was Utter Nonsense
Joe Brown, Jeff Snider and Stephanie Pomboy spent the weekend just shredding Friday’s BLS jobs “positive” report. They pointed out how full-time (as opposed to part-time) job numbers are actually falling; how wages are flat (they’d be increasing if the labor markets were actually tight); how the BLS estimates are suspect and constantly getting revised; and how many of the jobs created were part-time, 2nd, or government jobs. In other words, the BLS is full of BS.
This is a big deal because it again supports the contention that our economy is on extremely thin ice and that a recession and falling rates are very likely. Why the Bureau of Labor Statistics (BLS) continues to mislead is anyone’s guess, but it could be to support the current administration, or to give the Fed more justification to keep rates “higher for longer.” What is odd though is that there is no way they can continue with the façade forever, as the truth will surface sooner or later. So, nobody knows what the end game might be?
“1% Drop In Rates Brings 5 MILLION Buyers Into the Market,” Says Some Dude on Instagram!
The above subheading is a quote from some dude on Instagram (shared below). And, as we all know, if it’s on Instagram, it is true!
So, that is why exposing the BLS BS is so important. Rates are very likely to fall at some point, and buyers will stream back to market.
I am not sure about the number of buyers, but we have seen this firsthand time and again – as even small drops in rates result in substantially more pre-approval requests and actual contracts in our two offices.
The Instagram dude’s main point was this: buy now BEFORE the competition heats up, and refi later when rates are lower.
Here is his post: The Crash Is Coming! (The “crash” he’s referring to is the pending drop in interest rates).
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