Lee’s Free Thinking

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3 Charts of Jobs Data Without the Seasonal Adjustment BS

Full TIme Employment Ratio Chart August

The BLS provides seasonally adjusted (SA) data to make it impossible to see what actually happened in the first report each month. They do it to give economists and Wall Street mouthpieces something to do. Meanwhile, it’s much easier to see the truth with the actual not seasonally manipulated data (NSA). 

Here are a few charts showing August data in the context of actual historical data NSA. 

Fed QE Today 9/4/20

The Fed buys the paper from the Primary Dealers. The Fed pays for the purchases by depositing newly imagined money into the dealers accounts at the Fed. That money is then their cash to use for trading whatever they want. Here’s what happens next.

Another BTFD Moment 9/4/20

While I think that yesterday was a warning shot across the bow, I’m voting twice in favor of it being yet another BTFD moment. I’ll take a deeper look at the big picture in this weekend’s Technical Trader, which you can try risk free for 90 days if you are not now nor have ever been a member of our party.

Meanwhile, here’s the view for today.