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Biden Comments on the Jobs Report and Gets the Key Message Wrong

Summary:
American Rescue Plan - More Free Money“Some critics said we didn’t need the American Rescue Plan, that this economy would just heal itself. Today’s report just underscores, in my view, how vital the actions we are taking are.""Today's report also puts some truth to loose talk that we've been hearing about the economy lately. "First, that we should stop helping workers and families out for fear of overheating the economy. Today's report make it clear. Thank goodness we passed the American Recue Plan.""Second, today's is rebuttal to loose talk that Americans just don't want to work. What this report shows is there is a much bigger problem, not withstanding the commentary you might have heard this morning, is that our economy still has 8 million fewer jobs than when this pandemic started.

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Biden Comments on the Jobs Report and Gets the Key Message Wrong
Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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