Jan 2020 Jobs Report - Good News?!?!

The reason we are blowing through previous unemployment rates is because the Fed’s policies have changed.

They used to think a real unemployment rate of 5 or so percent was all that was possible…then inflation would take over, so therefore when unemployment hit that, they’d tighten credit to try and engineer a soft landing.

The Fed doesn’t do that anymore.

So no one knows what the real unemployment rate really is anymore.

Of course…easy credit stimulus offers diminishing returns as well as asset price inflation.

Dow 28-29K anyone?

But Trump said something different in the SOTU speech. Oh my!

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