Friday's labor report, highly anticipated and over-hyped, will used by investors to help time the Fed's liftoff of rates. While Insight's Economic Activity Index (EAC) reveals a transition from prosperity to liquidation with the business cycle, it's hardly a widely followed statistic. The minority of readers actually listening to the message of the market recognize that the Fed waited too long regardless of Friday's labor report trends.
While populous robin-hood rhetoric, supported by the Pope, Carl Ican, and, of course, politicians eager to buy votes is increasing in frequency in the headlines, it's hardly a long-term solution that promotes economic growth and job creation for the United States. Shifting distribution of wealth, a function of higher taxes and regulations, is clearly illustrated by the dramatic shift from goods- to service-producing jobs since WWII (chart). Nearly 87% of jobs created in 2015 are service-producing jobs. This compares to 58% in 1945. This clear message of the market still eludes the majority.