The numbers aren’t pretty but that’s not stopping the government from smearing lipstick on this pig. Friday’s jobs report was lukewarm with the economy adding a fewer-than-expected 161,000 jobs in October. We’ll have to wait for the post-election adjustment. Unemployment inched lower as the burger flipper jobs increased. ZeroHedge notes that the number of multiple jobholders has hit a 21st century high as people scramble to maintain their standard of living against an unpromising jobs landscape.
The Fed punted on rate increases, preferring to wait until December, reinforcing the idea that the Fed is a political beast.
Gold, which ended the month at $1,275, is surging so far in November and is up just over 13% over the last year.
Dissatisfaction with the country is about the same from last month—people aren’t real happy but are not enraged either (stay tuned). Background checks for pistols hit an all-time high for October. And the S&P 500 yield is up, but is certainly not any bargain as stocks trip and stumble during the late stages of this bull market.