It's about 6:30 AM as I write this on Saturday morning. I'm sitting on a screened in porch overlooking the beach and watching the sunrise. It is an incredible view.
In other news, we received the monthly jobs report Friday morning, which is the most important piece of economic news released all month.
The number of new jobs created during August totaled 0.0. A complete disaster.
I will not rehash my monthly explanation of how this number is manipulated higher through labor force "participation" and birth death models. See The June Jobs Report for a complete analysis.
Just know that at a time when we need to be creating hundreds of thousands of jobs per month to get our country back to full employment, we are now losing jobs.
As I discussed in Gold Corrects, What Next?, look for shock and awe coming from both the Obama economic team and Federal Reserve to provide new "stimulus" heading into election season.
Their next round of poison injected should be the final nail in the coffin for both our currency and economy.