Friday, November 06, 2009

Good news everybody!

Remember, unemployment is a lagging indicator.

Also, the increase in unemployment is taking place at a slower rate (so we're assured by NPR).

In any event, this confirms that the Fed will hold rates down for much longer, forcing a steep yield curve, which means big profits for banks. Even non-banks like Goldman Sachs that masquerades as a bank. Big bonuses as far as the eye can see.

Break out the champagne!


I predicted 40% real unemployment by the end of Obama's term. With real unemployment at 18%, we're almost halfway there before the end of his first year in office.

By Anonymous Anonymous, at 11/06/2009 5:35 PM  

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