Two days ago, on August 4, 2021, we stated in a social media post that “In two days, we are only 30 days out from ending the $300 per week additional federal unemployment payment. So here’s what we believe is going to happen. Over the next two weeks, employers who haven’t been able to fill jobs…are going to receive a flood of applications for available jobs from people losing their federal unemployment benefits. Therefore, within 32 days, it is extremely likely we are likely going to see a massive job gain number!” (8/4/2021 post: https://bit.ly/3yz3uP6).
WE WERE RIGHT! Today, the U.S. jobs report BLEW PAST EXPECTATIONS, as several states ended extended unemployment benefits before the September expiration! The U.S. economy added 943,000 jobs in July, compared to the 870,000 analysts surveyed by Refintiv expected!
Today’s jobs report reinforces our projection, made in the same social media post mentioned above, that the ending of extended federal unemployment payment, “combined with probable approval of the pending/advancing bipartisan infrastructure plan (and the excellent reported 2nd QTR corporate earnings we are seeing right now) should move your holdings very strongly over the next 32 days. When horrible national policies, that encourage folks not to work, end in our nation’s economy (which has incredible underlying strength), you should see a very large upside movement in your asset values!” FOLKS, THIS IS A BUYER’S MARKET! Onward and Upward!!
*Full listing of all disclosures (bit.ly/3lGX3mM)