Sunday, July 18, 2010

The Obama Depression

Nope, it is The Obama Depression.

The US workforce has shrunk by a 1m over the past two months as discouraged jobless give up the hunt.
The euro rocketed to a two-month high of $1.29 and sterling jumped two cents to almost $1.54 after the Fed confessed that the US economy may not recover for five or six years. Far from winding down emergency stimulus, the bank may need a fresh blast of bond purchases or quantitative easing.
The Fed thinks this depression will last until 2016. Ouch!

6 comments:

  1. And interestingly, people aren't cluing in to how the employment rate may be a better estimate of the unemployment rate than the actual unemployment rate....

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  2. BB, that would require a facility with basic mathematics, and a penchant for asking questions.

    Both of those skills are generally absent from our publicly educated society.

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  3. The unemployment rate is of little concern to those on the government dole that will vote for more Obamanation like the sheeple they are.

    Liberal Fascist chanting point: "Tax the rich and extend unemployment and welfare!"

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  4. Palm Boy, good point, but I would expect the PhDs at the CBO and the Fed to start asking these questions, and those with masters' degrees in journalism to start to understand them.

    Unless, of course (here's my soapbox), it's perfectly normal to get a graduate degree without ever darkening the door of a logic class. I did--yikes!

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  5. Masters' degree. I quit doctoral studies because my wife and job were more interesting...

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