Wall Street High Fiving the Weak Job Market

[tsptalk]

Bizarro World ... Stocks bounce after fed says job growth too slow to taper...

Fed wants more job gains before slowing bond buys: minutes - Yahoo! Finance

"Even as consensus built within the Federal Reserve in June about the likely need to begin pulling back on economic stimulus measures soon, many officials wanted more reassurance the employment recovery was on solid ground before a policy retreat."

 

[RealMoneyIssues]

Sounds like we will see 1700 SPX soon...

 

[MrJohnRoss]

Oh, they will get their job growth, and lower unemployment numbers too. More and more Americans are working. Unfortunately, many of the full time jobs are going away, and are being replaced with low paying part time jobs with no benefits. This raises the "job growth" numbers. Couple that with the number of unemployed who have given up looking for a job, and VIOLA! The unemployment rate drops, and the administration looks like they've actually done something, when in reality it's all a sham. But hey, look at that Dow! Another all time high just around the corner, right Helicopter Ben?

 

[tsptalk]

I don't think Wall Street wants that unemployment rate to drop. At least not now that it's the trigger for Ben.

 

[Mapper]

They sure don't. Wall Street has no qualms about free money.