This is the biggest problem.
Reuters: Banks, Apple drive Wall St higher, AmEx up late
...weekly initial jobless claims rose slightly more than expected.
Thursday, April 23, 2009
Rising Unemployment
Buried within this usual suspect article on why the market is basically treading underwater, is the statement about rising unemployment last week.
This is the biggest problem.
Reuters: Banks, Apple drive Wall St higher, AmEx up late
This is the biggest problem.
Reuters: Banks, Apple drive Wall St higher, AmEx up late
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3 comments:
We've plummeted off a cliff of some kind and God only knows what it will be like once we smash into the bottom. I suspect many if not most of these lost jobs are NEVER coming back and for the life of me I cannot see what is going to replace them.
I was listening to Arandhati Roy on Alternative Radio the other day.
She was saying that Obama is presiding over the dissolution of the American Empire. She said don't worry, there's still a Rome and an England.
I would have to agree. The market is in free fall, and all the writing about it is nonsense. Its not about emotion, pessimism, optimism, that is all bull.
Nobody knows where its headed, and people are trying to think of it in the same old model. Its too changed. The recession doesn't end at the end of 09 or 10 and then its back to business as usual. I don't believe that at all.
You know here's the bitch of it friend. For 80 % of the public the Recession will have just been a headline and a few signs on homes being foreclosed and businesses shuttered. But for millions of others it will mean the end of a whole way of living. The Great Recession like the Great Depression before it will not fall on everyone or even most. But for those of it has fallen on, it appears as if the sky has fallen in.
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