U.S. job losses soar, jobless rate at 14-year high
reuters.com
reuters.com
The economic history of the United States is a powerful argument against that assertion.
And now in retrospect it's clear that most every major decision made by the Fed for the past decade or more has been wrong, and has made macroeconomic problems worse instead of better. Perhaps Andrew Jackson had the right idea after all (at least on that one issue).
How's the job market in the Seattle area?
We old gen X folk enjoyed the Seattle Sound when the economy was crap.
Do the millennials (gen Y) get to live through their own version of the early 90s job market?
Cheer up gen Y, it will turn around, and you just might get some good music out of it.
P.S.
Get off my lawn.
forget all this garbage of now being a great time to max out ten credit cards to build a website. there is only one rule for secular bear markets - preserve wealth. there is no value in planting in an economic winter. don't fight it, wait for an economic spring to appear in the economy and have capital ready for a more appropriate climate. we have years to go. this will end only when all excess debt is deleveraged and governments, consumers and companies alike have healthier balance sheets purged of debt.
No value in planting in an economic winter? Doesn't that conflict with 'buy low sell high' principle? If you wait too long for the spring, you end up paying too much.
/not an expert, has mucho debt
no. the dow is going to 5000 (but will likely go to 12000 first) . that is a better time to consider "planting". furthermore oil is going to go over $200 and t-notes will yield 20% before this is all over, because what we are doing now is planting the seeds for hyperinflation (to follow our current deflation) with all of this "50 billion here, 100 billion there, 700 billion here" money printing.
Oh, you don't? You mean these are just in-the-air?
But I'm planting now. Partly because I have some 'peek-a-boo' technology and nothing could stop me at this point. But also because I think if I do it right, I can play the circumstance to my favor. I'm planning on keeping my job (as long as possible) and now that friends are getting laid off, I'm roping them into my plans. No offices, no logo t-shirts, and no fuzzy business plans. But I'm planting.
Sounds like a perfectly good reason to max out home equity loans at a fixed rate.
Thanks!
we've increased the national debt by 10% in just about a month. you tell me if you think that bodes well for the economy.
indeed, debt will become more of a problem in coming years as people see their secured assets lose value (i.e., classic "underwater" loans). people will all seek to liquidate at once, but since they are underwater they will still be in debt even when they no longer have possessions.
DEBT. that is all you need to know about this crisis. it will take years for our debt situation to be solved. until it does, we are in a secular bear.
Not directly related to unemployment I know.
It wasn't until a month before the election that the Dow crashed back below the 10,500 mark which it was at when George W Bush took office in 2001.
OK, now I don't believe that's really the only thing going on, obviously there's a zillion other factors which are more important than just Republicans vs Democrats. But you asked how you could explain the "huge drop under Bush" despite traders being more confident when the administration is Republican, and I gave you an explanation.
No, they don't. There's little correlation with that profession and political leaning.
And there's also no statistical data to link market performance with a political party. I didn't think you were inferring that, but as a failsafe, I mention it.
(Or so the argument goes... No idea how true it is, as I can't find stats.)
Wow.
Bush has finally let the unemployment rate get almost as bad as it was under Clinton...
I'm guessing you're too young to remember the whole "It's The Economy, Stupid" theme behind Clinton's first-term campaign.