The deepening recession in the U.S.

[Les Schaffer <schaffer@xxxxxxxxxxxxx>]

José writes:

> Another 100K jobs got whacked 

whats with the news today? everyone is reporting another 100k jobs
lost, but "seasonally adjusted unemployment" was up a tenth of a per
cent.... huh????

another article i saw somewhere today claimed that the 2.8M jobs lost
that José refered to are REALLY LOST, gone, aint coming back. gone
overseas i gather.

and yet all the other signs are that the economy is improving,
according to news accounts.

as an economic novice, my temptation is then to believe the economy is
doing better ... better for the people who are moving the jobs
overseas for lower labor costs while managing their capital from the
good ole USofA ...

even the suits on CNN tonite were kinda quiet when asked when things
were "gonna get better". 

so i thought to myself, well this (what we got) is WHAT THEY INTEND.

the news coverage of the unemployment ended with some other suit guy,
who said we may have to adjust ourselves to the notion that full
employment has undergone .... ahem ....  structural changes and is at
a new "level", 6%.

ooooooookay......

les schaffer




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