Non Farm Payrolls, QE No Longer Works

Unemployment drops slightly but payrolls are disappointing. Participation rate remains at historical low yet equity markets raise in expectation of more money priniting. It is now clear the Fed action only helps banks, certainly not workers. Two thirds of jobs created are very low paid or temporary jobs, a tendency that is exacerbated by further printing of money, that goes to banks to speculate on financial markets.

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