Quote:
Originally Posted by QuikSand
So, if you have been playing the market... what do you make of this? The Friday move on the US markets seems almost totally beholden to the "sticker shock" of the jobs report. Now that we (maybe) know it's bogus, is Monday a -massive- correction? I mean... seems like it, right? if there is any rationality in the market at this point... right?
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I'm more worried about the bottom falling out because of a lack of faith in the numbers coming out of governmental institutions.
The big reason that our government puts so much work into keeping our data correct and isolated from political considerations is so investors will have confidence investing in the American economy.
It now appears, however, that the GOP's "don't tell Daddy bad news because it makes him scared and angry" approach to governing has seeped into, at least, the BLS.
So what if everyone looks around and says "what the hell else can't we trust about this country anymore" and decides to go start investing in Europe, Asia, etc.?
I hope that I'm being a pessimist about this.