What strong labour market...?
New HedgEye research shows the number of people in US with 2 x full time jobs, is now at highest level for well over 30 years.. WTF?
So much for a “booming” labour market. (A booming labour market would imply people get paid enough to live, right??? )
This is CATEGORICALLY Not what the data shows.
Whatever Powell is sniffing it’s bloody good stuff. This guy is literally off his head... relying on the US jobs report to suggest a strong economy when its literally the "most lagging of all lagging indicators..."
Mass layoffs are already announced Amazon Facebook Google Twiter Snap and they're coming thick and fast.
Hedgeye remain long Gold and Long US Dollar. Pretty much Short everything else from Yen / Euro / Eurozone equities / Nasdaq / Russell2000 / and Short on High Yield Bonds... etc
Global Demand destruction accelerates: Oil falls and continue to fall (despite anything that Putin or Saudi do...) Which is great for miners...
HEDGEYE tells you the stuff Wall Street doesn't want you to know... They also started to nibble at gold miners in recent weeks.
Booming economy? Strong labour market? Total Bollox
Re: Booming economy? Strong labour market? Total Bollox
100%
Same thing is happening here... I know of at least 3 family/friends who are having to take 2nd jobs to cover energy and just general cost increases of running a house!
My sister-in-law energy bills gone from 188 to 650 in Oct... Didn't even know that was going to happen! Multiply that throughout the country.
This is all part of the narrative of how it is meant to play out right? But...
I try not to look at things from a news/narrative perspective though. Its the harmonics for me and they work FOR ME. And, as i was telling a couple of others weekend, my technical work is unearthing some gems which support that narrative. I was going to post those findings (a load of charts inc miners, commodities ) but held back as i am at a meeting this Thursday where the agenda is Commodities, Energy & Bonds.
Even this week... there's been the reactions at specific technical levels.
It's close, but will take time.
Same thing is happening here... I know of at least 3 family/friends who are having to take 2nd jobs to cover energy and just general cost increases of running a house!
My sister-in-law energy bills gone from 188 to 650 in Oct... Didn't even know that was going to happen! Multiply that throughout the country.
This is all part of the narrative of how it is meant to play out right? But...
I try not to look at things from a news/narrative perspective though. Its the harmonics for me and they work FOR ME. And, as i was telling a couple of others weekend, my technical work is unearthing some gems which support that narrative. I was going to post those findings (a load of charts inc miners, commodities ) but held back as i am at a meeting this Thursday where the agenda is Commodities, Energy & Bonds.
Even this week... there's been the reactions at specific technical levels.
It's close, but will take time.
Gelli Aur