Economy

The economy added 165,000 jobs, more than expected, in April. That doesn't sound like much to me, but it ignited a stock market rally. Official unemployment fell to 7.5 percent. There's no info on how many people dropped out of the work force. But it's not all good news.

"The yield on the benchmark 10-year Treasury note rose sharply as traders moved money out of bonds and into riskier assets like stocks. The yield rose to 1.72 percent from 1.63 percent the day before, its lowest level of the year."

That means debt just ate up a much larger portion of government's budget. It also signals an increase in price inflation.

Here's some sage advice.

"However, economists caution that the jobs numbers do not signify a vibrant economy. The data also showed a drop in the average number of hours people worked per week – perhaps indicating that orders are slowing, causing businesses to cut back on overtime and add more part-time workers. In addition, economists anticipate that the effect of recent federal budget cuts will increase as summer approaches."

This jobs data can't explain the stock market burst.

None of the top stories on my Google homepage mention the economic numbers. That's bizarre.

Here are the ten biggest bubbles in the housing market.