In The News Today

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Jim Sinclair’s Commentary

Great Chief Sitting Bull has a dog. Do you know what breed this is?

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Jim Sinclair’s Commentary

Paper money will become steadily worth less.

Switzerland and Britain are now at currency war
By Ambrose Evans-Pritchard

It seems you can’t debase your coinage these days even if you try.

The Bank of England is straining every sinew to drive down sterling with quantitative easing, and what happens?

The Swiss National Bank trumps Threadneedle Street with an outright blitz of Gilt purchases. They just print it, and buy.

The Swiss and UK central banks are effectively fighting a "low intensity" currency war against each other. It has come to this.

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Jim Sinclair’s Commentary

The skinny and all you need to know:

“There is no way that the implications and consequences of what has been done up to now can be talked or manipulated away.”

 

Jim Sinclair’s Commentary

You really have to appreciate the work of the spin doctors so evident in every US economic report. They are untiring in their work to present everything as positive at all times

U.S. gains 155,000 jobs in December
Unemployment rate unchanged at 7.8% after annual revision

By Jeffry Bartash, MarketWatch

WASHINGTON (MarketWatch) — The U.S. created 155,000 jobs in the last month of 2012 and the unemployment rate was unchanged at 7.8%, suggesting the budget battle in Washington over the fiscal cliff didn’t do much damage to the economy.

The pace of hiring in December almost perfectly matched the level of job growth over the past two years. The U.S. has added an average of 153,000 jobs each month in both 2011 and 2012, the Labor Department said.

The upshot: The U.S. economy continues to expand at a gradual pace. Companies are hiring enough workers to keep up with growth in the labor force and slowly whittle down the unemployment rate, although millions of people are still struggling to find full-time work.

“The trend is okay,” said Scott Brown, chief economist of Raymond James. “We’ll really like to see payroll gains of 250,000 to 300,000 a month to make up for all the jobs lost during the downturn.”

The still-high unemployment rate, for its part, will keep in place the Federal Reserve’s strategy of buying billions in bonds for the indefinite future. The Fed wants the jobless rate to fall below 6.5% before it eases up on its controversial bond-buying plan. The goal is to lower interest rates to make it cheaper for businesses and consumers to borrow, spend and invest.

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