Everybody is going to focus on jobs and the economy tomorrow when the August employment report is published at 8:30 in the morning. The consensus number for non-farm payrolls is 75,000, but all I can say is, don't bet on it. Monthly job forecasts are one big crapshoot.

There's roughly 160 million people working in America. So, if you miss your forecast by only one-tenth of 1%, it's a 160,000 miss. So, on that basis, jobs could run as high as 235,000. Or jobs could fall by 85,000 based on the 75,000 consensus. Plus, we've seen big downward revisions in recent months, and it's quite possible there may be more of these on the way. We have a new man at the BLS, EJ Antoni, a great friend and a very smart fellow. But he's not going to be able to make any real improvements for quite some time.

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