by Sundance at The Conservative Treehouse
The financial punditry class are befuddled, confused and perplexed. The Bureau of Labor and Statistics released the November jobs report [data here] showing a six figure miss from expectations. Economists were expecting around 535,000 additional jobs; however, the U.S. added only 210,000 jobs according to the new data.
The situation itself is not that difficult to understand when you look at Main Street. However, so many of the professional punditry class are confused because they only focus on the Wall Street economy, their only prism of reference for the last several decades.
Americans are preparing, cutting back and hunkering down from the Hurricane that is Joe Biden’s inflation.
Inside the jobs numbers, you will note the areas where consumer spending contraction first hits: retail, luxury, leisure and hospitality, is the area where November employment was flat or jobs were lost. DUH!
The ‘retail sector‘ lost 20,000 jobs in November. Think about that. What usually happens in November? People are hired to handle holiday seasonal shopping…. but they weren’t… why not? The professional economic punditry cannot figure it out, so they avoid those questions entirely. Those questions hold the key to unlocking the understanding. Does the “pretending not to know things” ring familiar?
The damn jobs report is simply reflecting how Main Street USA workers, consumers, spenders and survivors live when gasoline, energy and food costs necessarily skyrocket. The November employment results are a reflection of the blue collar prepper mindset. This is not hard to figure out. As long as inflation rages on, items that cannot be avoided, at a level that is two to five times the rate of wage growth, decisions are made that are based on checkbook economics.
The cognitive dissonance is quite remarkable look:…
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