Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Close with Modest Losses but Miners Gain on the Week
By: Chris Mullen, Gold Seeker Report

Life Under Manipulation
By: Theodore Butler

Legendary investor names his top junior resource stock picks right now
By: Peter Spina, President, CEO of GoldSeek.com & SilverSeek.com

Silver Miners’ Q3’17 Fundamentals
By: Adam Hamilton, CPA

Deflation must be embraced
By: Alasdair Macleod

Gold’s 47-Year Bull Market
By: Steven Saville

Taxes, Macro Signals, Seasonality, US Stocks and Gold Miners
By: Gary Tanashian

The Key to Profitably Ending Precious Metals Price Suppression And Other Markets Manipulation!
By: Deepcaster

The Precious Metals Bears' Fear of Fridays
By: Dimitri Speck

The Lemmings are Heading Towards the Cliff...Again
By: Gary Savage

 
Search

GoldSeek Web

 
According to “Unmassaged Data” the US Economy is Rolling Over


 -- Published: Tuesday, 7 February 2017 | Print  | Disqus 

By Graham Summers

 

Yet another “unmassaged” data point has shown that the US economy is rolling over.

 

If you’ve been reading me for a while you know that one of my biggest pet peeves is the fact that headline US economic data (GDP growth, unemployment, inflation, etc.)  is massaged to the point of being fiction.

 

For this reason, in order to get a real read on the economy, you have to look for economic metrics that are unpopular enough that the beancounters don’t bother adjusting them.

 

Case in point, look at the latest employment trend for S&P 500 companies (H/T Sam Ro).

 

http://goldseek.com/news/2017/2-7gs/1.jpg

 

For the first time since the Great Recession, employment growth has turned negative at S&P 500 companies. Also note the divergence between this metric and the headline unemployment rate.

 

This is confirmed by tax receipts (another unmassaged data point). The argument here is simple: when employment is growing, more people are paying taxes and tax receipts rise. When employment is falling… tax receipts drop.

 

 http://goldseek.com/news/2017/2-7gs/2.png

 

What is the above chart telling you?

 

The reality is that the “Trump trade” or the idea that the US economy is about to explode higher based on Trump taking office, is completely and utterly off-base.

 

At best any policies Trump implements will begin to have an effect 12 months from now. And those investors who are trading as though GDP growth of 5% is here now are about to get annihilated.

 

Originally published at:

 

http://gainspainscapital.com/

 

Best Regards

 

Graham Summers

 

Chief Market Strategist

Phoenix Capital Research

 


| Digg This Article
 -- Published: Tuesday, 7 February 2017 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.