Employment Grew by 431,000 Jobs in May

411,000 of them were the census workers who may have been counted double or triple (if not more) if this allegation is true ("Census Worker Claims Job Numbers Are Being Inflated", 6/3/2010 Real Clear Politics).

Job creation in the private sector was statistical zero.

The president hails the report as the evidence as "the economy is getting stronger by the day".

He must be wagging his finger at the private sector for not doing enough, like he has done so successfully. (OK, let's have the census every single month.)

The stock market isn't sharing his optimism. Dow Jones Industrial Average is currently down 223 points. When I heard the other day about the 'whisper' number for the job creation in May from Goldman Sachs (which was a whopping 700K, 200K above consensus), I had my doubts, to say the least.

(Sad, isn't it, when you cannot take the words from the government and from the premier crime organization, oops banking institution, in the world at face value?)

I'm sure those algo bots who ended up causing the 'flash crash and dash' in May will try their best to salvage the market today, so that we can have a peaceful weekend. I'm not sure they will succeed.

Investors are running for liquidity (US Treasury) and quality (gold) and away from just about anything else.

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