Well yeah, they slowed from 315k, but that was EXPECTED.
The parasites who derive their main livelihood from the returns on financials are in a panic over Fed rate hikes designed to reduce inflation. Whether those will do that or not is beside the point.
This is all about their carry trade.
The Fed has been making cheap money available since December 2002 to restart the stock market and it has hardly stopped . . . until lately. The politics of inflation have finally caused the Fed to pivot on this long-standing policy, and they couldn't be more angry.
The top 10% borrow at cheap government rates and plow the money into private financial products which pay higher rates which the 90% have to pay. They prosper, gloriously, off the difference. But increase their cost of borrowing and you are diluting the gravy train.
Ever since the Fed started raising rates in earnest earlier this year, the rentiers have been trying everything they can to get them to pivot, without success.
This morning the hope was that a really poor employment report would get the Fed to back off, except the 263k figure beat expectations of 250k.
The Fed is likely to stay the course and keep raising rates.
CNBC paints this as slowing in keeping with the rentiers' rhetorical narrative aimed at the Fed, which has a dual mandate to maximize employment and maintain stable prices.
Never mind that the dual mandate is nuts since unstable prices exact a far greater cost on the people than unemployment ever does. Inflation doubling makes everyone pay 100% more for everything indefinitely, whereas unemployment affects fewer and is definitely cyclical.
And never mind the Fed has NO mandate to suppress interest rates, buy securities, and bail out the world.
But I digress.
You are being lied to and manipulated . . . constantly.
Because they can, and it works.
