The Grand Deception Continues

"March 8 – (King World News) – The NFP jobs report for February was a complete joke. It didn’t match up at all with the plethora of weak data for the month such as; falling construction spending, disappointing durable goods and factory orders, negative consumer spending and retail sales, weak existing home sales, rising initial jobless claims and increasing layoffs reported by Challenger Grey and Christmas….

Continue reading the Michael Pento piece below…

Also, private data from the ADP payroll report showed only 212k jobs created in February; not the 295k reported by BLS. In addition, the Household survey conducted by the BLS showed that just 96k jobs were created. And more importantly, the Labor Force Participation Rate dropped yet again. 

There just isn’t any way that nearly 300k net new jobs were created and, at the same time, people became so discouraged with the labor market that they stopped looking for work. Therefore, I still believe this number will be revised lower and that the continued weakening economic data will prevent the Fed from increasing rates more than once this year. That is why I think gold is still a hold for now and will be a strong buy later this year when the US Dollar tops out..."

at http://kingworldnews.com/grand-deception-continues/