alrighty so in breaking news by the way the august jobs report is out complete fail complete absolute utter failure which of course is not surprising because we are paying people to stay home and then we're talking about inflating more we're talking about more stimulus we're talking about by the way telling people that they must stay home because of the pandemic when that is obviously not true if you're vaccinated you should not be afraid of other people who are unvaccinated because you're vaccinated it's the whole damned point of getting vaccinated in the first place so the reality there's a reason why these states that are doing best in terms of the unemployment rate are all red states and the states that are all doing the worst are the blue states there's a reason for that the august jobs report how bad was it economists had forecasted NUMBER_TOKEN NUMBER_TOKEN jobs being created remember there are NUMBER_TOKEN million open jobs in the united states right now NUMBER_TOKEN NUMBER_TOKEN jobs is what the economists have been forecasting the actual number of jobs created was NUMBER_TOKEN NUMBER_TOKEN jobs they were off by a factor of three they're off by a factor of three that is a disaster area for the biden administration and again they keep missing the mark they keep missing it over and over they'll have like one good month and then they'll have three terrible months that is because you have completely destroyed all of the incentive structures causing people to go back to work you've destroyed supply lines you're artificially boosting demand by pouring money into people's pockets but you can tell by the way that that sort of inflation is not actual price inflation it's not sort of heated it's not economic heating you know how you know because if you look at the loan numbers like whether people are actually taking out loans the answer is no people are not taking out loans under these circumstances because they're afraid they're not going to be able to pay them back and that is because the underlying fundamentals that are being created by the regulate and spend and tax biden economy are a lot weaker than the fundamentals of an economy that was much more laissez faire under donald trump this is this is wild i mean so the fed is now saying that the august jobs of course was a failure but because of that they're going to keep buying assets did ever occur to them that the reason the jobs reports a failure is because you keep inflating the currency is because you keep paying people to stay home it's because of unemployment benefits it's because you're creating enormous pressure for businesses to spend more money than they are actually taking in on employees like this is all causing inflation of course and um but they're saying it's transitory which is fine terrible news for the economy not a shock the unemployment rate fell to NUMBER_TOKEN in august from NUMBER_TOKEN before according to the bureau of labor statistics there's a reason why bitcoin by the way just rose past NUMBER_TOKEN NUMBER_TOKEN per bitcoin the reason for that is because people are now investing in some form of more solid asset than the united states dollar given what the federal government is doing right now by the way uh according to the the economic report there were job losses in certain sectors in the retail sector almost NUMBER_TOKEN NUMBER_TOKEN jobs lost in the restaurant sector NUMBER_TOKEN NUMBER_TOKEN jobs lost and there were NUMBER_TOKEN NUMBER_TOKEN jobs picked up in the entertainment sector that's probably going to take a nosedive considering that joe biden continues to shut down the economy that's amazing what the people
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