Thursday, August 20, 2009

Funny, but it's not

As I rise and shine today I look at the headlines and it says, "U.S. Jobless Claims Unexpectedly Rise."

Without even reading the article I just can't believe that any job losses are unexpected. I've been saying for months that this "recovery" doesn't make sense. Just from talking to my friends and people that I know, there are no jobs out there. The people that do happen to find something, usually consists of Sales jobs or part time or underpaid jobs that when they take it, it's better than nothing.

I never understood what wizards think of the number that is OK for unemployment to be at. Why is it OK for 450,000 new claims but 475,000 is a surprise and sends the markets spinning. WHAT IS IT ABOUT THAT 25,000?? And like wise the other way, when the claims come in at 425,000, well then the recession must be over. Never mind that this is still 400k+ people that have lost their jobs. And this is only the 10th or 20th straight month.

It's just funny to me that We who work with the people on the ground see what happens when people don't have money and find jobs. But for the DOW to move or interest rates to change, it's unimaginable numbers that make them go up and down. For people to sit in little cubicles writing about the state of the economy, only able to do so because the Fed has dumped billions into their company (AIG, WELLS FARGO, CITI....). I wonder how many of these headline writers would say the same thing if they where fired like the workers at GM? When the number 1 means more than the number 450,000.

I've not heard one scenario for a long term recovery. Even when they report of possible recovery, I'm not hearing of any long term stability to go with it. All of this is still rattling in my head so hopefully I'll clear it up and post again, for my one reader to hear :)

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