Summary: Ignore the Bulls & Bears. Their need for clickbait stories turns noise into news. See the key trends in the jobs numbers, revealing the forces shaping the US economy.
- The jobs report confirms that the US economy grows slowly, and is slowing.
- It gives no evidence that the US is accelerating, or that the Fed will raise rates.
- If it continues slowing at this rate, we will have a recession in 2019.
- High equity valuations make no sense in this slow motion economy.
- Beware of analysts who sell stories about exciting noise, hiding the boring but important trends.