Deeper Looks. . .

(Deeper Looks. . .)

There is a saying that bad news is sometimes good news.  That can be true in business circles when "good" economic news is can be interpreted as a strength and thus subject to interest rate adjustment from the Federal Reserve. That affects the Markets, up or down. A case in point, when last Friday's jobs report was released, it was a robust 254,000 hires. Fantastic ! Or is it ? The employment trend these days, where are all jobs, are foreign-born workers and government, either direct or ancillary. There is increase in part time work and while un-employment rate dropped to 4.1%, it had been Uncle Sam who was the biggest contributor.


What about all the manufacturing jobs ? Jobs from the service sector. Travel. Construction ? All positions that demonstrate a healthy economy. However, when all the jobs are where no income is generated but spending is, the 254,000 might seem robust on the surface but the reality is more even. It is this lack of a strong economy that will continue to bedevil Helene recovery efforts. To date, the Federal involvement has been anemic.


Is there a Lebanon, North Carolina ? There is a Lebanon in South Carolina. And in Tennessee. States that experienced considerable damage from the Hurricane. Vice President Harris, who has been lacking in supporting those American states is now premising over $100 million for Lebanon proper. In Israel's fight against Hezbollah, many Lebanese civilians have been killed/ Beirut is being ruined.


If Ms. Harris thinks she can march to November based on "good" economic data, a good jobs report and a 3% GDP last quarter, she could be mistaken. Each number has nothing to do with policies of the Biden-Harris Administration. Indeed, positive economic news of any sort is taking place in spite of policy and in many cases made the economy worse.


Remember, things are not always what they seem. There are revisions and second opinions. The search for "truth" is a subjective exercise. So, when one might look at a head-line number. it is good to remember it might not be the only one.

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