Economy

Stock market up on the illusion of good economic news. The coming crash is going to hurt big-time.

Even the Washington Post calls the July jobs report disappointing.

"The jobless rate fell to 7.4 percent, although part of the decline was due to workers dropping out of the labor force."

"The data also showed hiring in previous months was not as strong as first reported. Estimates for May and June were revised down by a total of 26,000 jobs."

So much for the good economic news.

"“Overall this is not a strong labor report,” said Alan MacEachin, an economist at Navy Federal Credit Union. The data are “consistent with a sluggish, lackluster economy.” "

And that's phony, and illusion created by inflation.