Some call it the 'granddady' of the economic reports. Consensus estimates show expectations for a 135,000 non farm payrolls number.Pure conjecture and opinion on my part: I would be highly surprised if the payrolls number came in light given tense market situation. The Administration can ill afford to have a weak employment number out in the face of seizures in parts of the credit market. Look no further than last week's politically correct advance GDP number for how these numbers can be massaged for a good photo-op. GDP at 3.4% annualized in Q2? LOL (that would be an Al Lewis type Grandpa Munster laugh), you really believe that? That was as funny as when 4th quarter 2006 GDP was initially reported at 3.5% only to be revised to a 2.5% growth rate... Yes, 1 whole percentage point off in measuring the growth rate of a $13-trillion economy. And they say economics is the 'dismal science'? It's becoming comedic in many ways!
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