Unemployment Rate Drops to 7.8%

We can just hear it now.  The current actors in Washington will be pounding the table that they have 'brought down the official headline unemployment rate since taking office' – by a whopping one-tenth of a percentage point too. 

The American people know that the numbers today are in spite of the current cast and crew in Washington and their push to turn the U.S. into the next European socialist state, not because of their efforts.  It is a testament to the resilience of the U.S. economy and the resourcefulness of Americans that they could overcome so many Big Government headwinds.

Of course, that’s if one believes the numbers, seasonal adjustments and upward revisions as reported by the Bureau of Labor Statistics.  Be sure and listen to what Mr. Rick Santelli has to say in the CNBC video below on that score. 

Great time to go fishing.  So we likely shall.  The markets will settle by Tuesday more likely than not. 

After the Debate Disaster in Denver, the Pretender in Chief (P-I-C) sure needed (and has apparently gotten) some help, but our sense is that the Press has now turned on POTUS, just as they did with James Earl Carter in 1980, with mere weeks to go in the race.

 

  

 
Good news for the P-I-C, but the song "Too Much Too Little Too Late" comes to mind.   Was that Johnny Mathis? 

Source: CNBC
 http://video.cnbc.com/gallery/?video=3000120507 

Edit at 11:55.  Yep, it was Johnny Mathis and Deniece Williams with the classic rendition Cr. 1978.  Thanks to Vulture S.C.C. for the YouTube link.