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Jobs Number Meaningless When Reported by Crooks

Jobs Number Meaningless When Reported by Crooks - The Bubba Show
Original air date:  December 08, 2017

Todd "Bubba" Horwitz on Liberty Talk FM - Image Rotator Photo

BY: Todd Horwitz, Host & Senior Contributing Analyst
PUBLISHED: December 08, 2017

Bitcoin Hacked


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Bitcoin gets hacked and trades over 19,000. Today on The Bubba Show, Bubba talks about his amazement with cryptocurrency, jobs, small business and the discipline required to be a good trader. Bubba also discusses how meaningless Friday’s jobs number is when you look at the big picture.

The mirage being created by the government and the FED on how good the numbers are is a joke according to Bubba, who explains the numbers are only as good as the crooks who report them. The continued destruction of small business and the tepid creation of more crappy jobs is a huge problem.

The Bitcoin bubble is like any other bubble: it will pop. This doesn’t necessarily make the product bad, it just means that it is overpriced, and the price discovery model is out of whack. Bubbles happen all the time and throughout history, the same issues have occurred; greed takes over until the bubble gets ready to pop and then fear takes over.

The emotions of fear and greed have always been the market drivers going back to Tulipmania. As long as humans are involved, emotions will drive every market. When price and time become irrelevant, markets will collapse, it’s always the same.

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Todd Horwitz began his career in the financial industry as an option market maker at the Chicago Board of Options Exchange in 1982 and was one of the founding traders in the SPX pit. He is an active member of the am currently a member of the Chicago Board of Trade.