Well, unemployment rate jumped "unexpectedly" to an official rate of 10.2%. Actual rate, adding in "discouraged" workers and "part time for economic reasons (WalMart door greeters who aren't retired)" workers, runs that right up to a hair under 20%. Article I caught says a high school kid has the same chance of getting into Harvard as one of these folks finding a job right now. Sounds about right.
The word on commercial buildings is bad - now saying they won't bottom until 2010. BS - they may bottom about 2012, but not before.
Oh, yeah, five more banks closed.
http://www.marketwatch.com/story...-bln-2009-11-
07
Total for year, after bailouts, 120.
And oh yeah, Roubini is saying the bailouts produced a new bubble (gee, who else said that - oh, it was me, beating him by about four months, dang, does that mean I get a Nobel?) and the crash from that is coming. Sounds familiar, eh? The Treasury has now been stripped to keep the party going for a few months, and this time, when it's over, it's over. Hunker down folks, the blow off is going to come soon.
I'm not quite concerned about the economy because if you read the Recovery Act you'll note that most of the money hasn't been spent yet. I only wish it was larger. I am at present trying to tie in with a company getting work from some of those funds. Wish me luck. It's a hard job market right now.
One more thing. Heard Navy won their game. Go Navy!
Good luck. I'm afraid you'll need it.
Commenting by HaloScan
