ADP's February National Employment Report is out. The report estimates 139,000 American workers were hired to private-sector payrolls in February, below economists' consensus forecast of 155,000.ADP's estimate of January payroll gains was revised down to 127,000 from 175,000.
IT AIN'T THE WEATHER. THE BASIC ECONOMY IS AWFUL.
EVENTUALLY, THE BUBBLE WILL BURST.
PERHAPS ONE FALSE MOVE OVER UKRAINE WILL DO IT; PERHAPS IT WILL BE SOME OTHER EXTERNAL EVENT.
BUT SOON, SOMETHING WILL START A STAMPEDE FOR THE EXITS...