Hello, this is our weekly market alert video for the week ended May 7 2021. And of course, this is the Mother’s Day weekend. And so therefore, I want to wish all you mothers, a very, very happy mother’s day, you guys have given birth to us. Without us, we wouldn’t even exist. And you’ve sacrificed for us. You’ve mom, Deus. And we thank you. And we hope that you get all the love back that you deserve. So this week is kind of interesting, because we had the biggest Miss by economists in projecting how many jobs are going to be created in recorded history. Now, as you guys know, we’ve chronicled over the over the years, how closely economists predict the jobs numbers, and they’re not very good at it if the truth be told, but be that as it made, they missed big time, this time, and the jobs numbers that were expected was 1 million jobs, 1 million new jobs.
But no, that’s not what happened. 266,000 jobs. bigness. So why did that happen? What happened there? Is it because we don’t have enough workers? Is that the problem? Well, no, because the pandemic certainly has, has had some fatalities, but in the working age group, not significant. So then the next thing that we look at is, Are there no jobs available? Now? There still are there’s lots of jobs? And is the recovery stalled? Is the economy like stopping? And the answer, there is no as well. So why is it that few new jobs were created? Well, in our view, the American people are not stupid. And if you pay them, and then they don’t have to work, then why wouldn’t they do that. And so, during the pandemic, the stimulus checks were needed, because people did not have options, they did not have jobs. And to bridge that gap. We view that as it being needed. But there comes a point where now people are getting paid, and they aren’t having to work for that.
There’s a state, I believe it’s Wyoming that has decided that they’re not going to do that they’re actually going to pay people to go back to work, you’ll get your stimulus check by going back to work. And I think if we did that, we would probably see millions of people going back to work. Because, you know, as I’ve learned over the years, what you pay people to do is what they end up doing, because they’re smart. Now, the other thing that’s interesting is why did the stock market go up? The s&p and the Dow went up dramatically. On the heels of such terrible news. Why did they do that? Well, if you guys have watched this video, or listen to my radio show over the years, you already know the answer.
The answer is that if we don’t have lots of new jobs, the Federal Reserve is most likely not going to raise interest rates anytime soon. So we still have very cheap money, cheap money translates into profits, and profits usually translate into an increased stock price. And so therefore, investors are very happy that the Federal Reserve did not take the proverbial Punchbowl away from the party or won’t anyway. So where do we go from here? Well, this will be and I hate to use the word but I’m gonna transitory This is a transitory thing, because those stimulus checks will run out. And when they do, then people will say, Okay, it’s time for me to go back to work now. And the jobs are very plentiful, employers are begging people to come back to work. And so we think that that’ll be a temporary situation, and it’ll take care of itself, the recovery is still in force. And we also think that, you know, we’re gonna see a new all time highs probably many, many times between now and the end of this year.
So things look good, despite the bad news. Now, keep in mind that we are as a country taking on massive amounts of debt, trillions of dollars, unprecedented amounts, and about to do more, apparently. And so because of that, we are concerned that we could have some economic issues in the future, we have to pay back the debt, it’s not free. And that could result in inflation and higher taxes and things that could cause the stock markets to crash or go down dramatically. And so because of that, we have our investment, protect strategy in place ready to be used to protect you from massive losses to the extent that we can.
So we hope you’re having a fantastic weekend. We hope all mothers are happy. You know, there’s an old expression in Texas, if mama ain’t happy, ain’t nobody happy. And if pop ain’t happy, nobody cares. So, so make mama happy to this weekend. And don’t worry about all this boring financial stuff. Let us do it for you. And we’ll talk soon.