Friday, March 9, 2007

Quack Box

I have had the misfortune this morning of watching CNBC. Beginning at 6AM est, before every break, after every break and everything in between the talking heads are "speculating" about the markets reaction to the sacred monthly "jobs number". The non-farm payrolls number released each month is probably the poster child for government manipulation of statistics. The attention it gets is rediculous. It comes out at 8:30AM est. The esitmate is for 100k jobs. Also at 8:30 the Trade Balance number prints. This forthcoming data has not been mentioned once, not one time all morning. This IS the most important number of the day. The talking heads ignorance of it is proof of that. The estimate is for -$60B. Any number uglier than that is gold positive...well, it should be ;-) . What ever the numbers for either set of data...I'm sure both will be explained "by the weather".

1 comment:

  1. What we are seeing in some of the PM's as well as in gold and silver is a small "dead cat bounce".
    This is optimistically my view.

    Nice title in the blogger!

    Yes, finacial TV has to taken with a grain of salt.