"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey
Several times, I have referenced the real unemployment statistic as reported by John Williams' Shadow Government Statistics. Now, FOX Business News is finally getting into the act with the following article.
Are you beginning to get the picture here. Successful investing is much more than trying to find the next hot stock. It is, in a nutshell, accurately separating truth from lies.
While the market manipulators continue to prop up a market that should be crashing, the small investor scrambles to get in surmising that the recent strength must mean a new bull has arrived.
Famed hedge fund guru Doug Kass isn't fooled. In today's article (www.seabreezepartners.net) Kass wrote a blog entitled, "Ignore the Jobs Report? Not I!".
Doug Kass is one of the best, and his market assessments are sot on. Today, Kass said;
The jobs report is a bad report -- let the talking heads and investors/traders who worship at the altar of price momentum disregard it or rationalize it away.
But I won't, because in the fullness of time, fundamentals always trump the market's price momentum.
The prices on Wall Street remain ahead of the conditions on Main Street. The increased certainty and consensus of a smooth and self-sustaining economic recovery as well as a $72-$73 a share in 2010 S&P earnings should be tested in the period ahead -- in all likelihood, the unemployment rate will remain elevated at levels far higher than assumed by most. And with this will likely come disappointing personal consumption expenditures and higher savings, and, most important, lower-than-expected business confidence, expenditures and profits.
Like I said in my opening comments, we need to find people who are telling us the truth, and we also need to identify the liars and ignore them.
Here are a few other articles that will keep you busy over the weekend. I am trying to help you keep your money, and when opportunities present themselves, profit from unique circumstances.
Ron Paul- Government Statistics and Lies
Paul Craig Roberts- The Rich Have Stolen the Economy
"The True Story of the Bilderberg Group" and What They May Be Planning Now
