From the Washington Post, we learn that "January job gains have economists rethinking outlooks."

Oh, really? Last I looked, the bear leg of the larger business cycle was still in full effect. Nothing's changed in other words, since 2001 – or more pertinently 2008, when according to our elvish analysis the fiat-dollar economy, worldwide, collapsed.

How do we know it collapsed? Well, various central banks have committed possibly more than US$50 trillion since then to propping up various financial facilities. That doesn't sound very healthy, does it? Say, you go ask for a US$50 trillion loan (if you can figure out where to apply) and see whether you get it.

More on this in a minute. The idea of an up-trending of the US economy is nothing more than a bald-faced lie, the most devious kind of propaganda. Here's a bit more from the article:

An unexpectedly rosy jobs report set off a chain reaction Friday, upending economists' gloomy predictions for the coming year, leading to a surge on Wall Street and potentially boggling the political calculus of the 2012 presidential campaigns.

The surprise — that the unemployment rate had dipped for the fifth straight month, to 8.3 percent — was first reflected in the stock market, where the Dow Jones industrial average soared to its highest mark since the beginning of the financial crisis. The tech-heavy Nasdaq, meanwhile, hit an 11-year high.