>>> I strongly encourage you to go to the source, rather than simply reading what somebody else says you should think about what's going on.
I'm not trading off the real-time news reports, Augie, and certainly not off hedonically adjusted numbers like the jobs report. The news is more entertainment for me. That was the point of that post. It was funny that two news reporters would come up with different conclusions. Get it?
As far as the news itself, I'm more interested anaylisis of that news by the people who study these issues. There are too many issues, like labor, for me to spend time studying, and so i look for people who's analysis, makes sense, and has been correct over the long term.
Paul Kedrosky is one those people i come to trust over the past couple years. I can't say he's smartest person i've read on the web, but he comes pretty damn close. This is his Bio:
Paul Kedrosky advises various hedge funds and private equity firms in the U.S. and Europe and serves as a distinguished fellow at the University of California in San Diego. Kedrosky has started various technology companies, as well as having worked in product management at Digital Equipment Corp.
He writes a regular column for the National Post and frequently contributes to The Wall Street Journal. He's also been featured on CNN, CNBC, NPR and many other radio and television outlets.
Kedrosky has a Ph.D. from the Ivey School of Business of the University of Western Ontario, a master's in business administration from Queen's University and an undergraduate degree in engineering from Carleton University.
The prior post comes from his blog. This is the entire post:
Jobs Report: Good! Bad! Hazy! Posted by pk at 07:06 AM The January employment report is out, and now the spinning can begin. Total nonfarm payroll employment increased by 112,000 in January to 130.2 million, seasonally adjusted. Since August, payroll employment has grown by 366,000. Over on the household part of the survey, the employment increase was more like 496,000. Either way, the 112,000 number was lower than people were looking for. For example, Reuters had the economic consensus at 165,000 jobs in the month.
But now the fun begins: people get to decide whether it was good, bad, or indifferent. Fans of "good" will point to the high household survey numbers, the tick down in unemployment, and that job creation was the fastest in three years. Fans of "bad" will say it was worse than expected, that it is likely to be revised down further in a month or so, and that we are still below steady-state job production almost two years after the recent recession ended.
The confusion about up, down, or sideways is neatly captured here. Reuters says things are bad, while the AP says things are good -- in back-to-back wire releases:
>>> I strongly encourage you to go to the source, rather than simply reading what somebody else says you should think about what's going on.
BTW, i think it is really sweet of you, looking out for me like that, but next time you feel like dispensing advice, maybe you could do it to somebody else. I really don't you to be telling me what i should and should not be doing.
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