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!
posted by Quiddity at 11/06/2009 08:33:00 AM
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.
