The manipulation of markets (witness today) and the overt lying about the economy intensify as we move inexorably towards the precipice. – John Embry
Short Seller’s Journal update: My ‘Quick Hit’ pick is now down 27% from its Dec 31 close. Subscribers who took the plunge on my put option play are up over 500%. The put expires today and is a little over $5 in the money (it was a slightly out of the money put on 12/31/15). My long term short sell play is up (down) over 14%. This is a stock that I believe will go from $30 (12/31) to $10 by 2017. Short Seller’s Journal
The headline quote is from John Embry, who had emailed this morning asking me my opinion on the jobs report released this morning. Here’s my response, verbatim:
John, I woke up late this a.m., about 8:40 EST – that’s how much I care about the employment report. I turned on the tv to check the markets and saw the 292k and literally laughed out loud. It’s beyond shameless – it’s a full frontal assault on our intelligence. The Govt claims 45k new jobs in construction? But we find out earlier in the week that the Govt admits to rigging the construction spending number for the last 10 years. Is this some kind of joke?
The NFP is a completely fictitious number and it truly confounds me every month to see how much time, energy and money is spent by the financial mafia discussing a number that is indisputably 100% fabrication.
I don’t want to tossed into the cesspool of analysts who get sucked in to dissecting and discussing an economic report that is entirely fictitious.
This post was published at Investment Research Dynamics on January 8, 2016.
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