12 Yankee Stadiums Filled With The Newly Unemployed
New weekly initial jobless claims are reported Thursday mornings at 8:30 AM, and they just came in at 627,000. Close to 5 million people are now on the unemployment rolls. Many more are underemployed or have thrown in the towel completely so they’re not even included in the figures.
Through no fault of their own, economists and talking heads making good money report the numbers, some with a degree of empathy, some as neutral conveyors of information. Not passing judgment on that, just making an observation.
As A-Rod signed a 100 million+ contract based on false representations, maybe he should kick 80 mil or so into the stimulus fund above and beyond his tax burden. I’m aware that’s not going to happen, but there’s a poetic justice to it that appeals to me.
And indications are that the stock market, despite these wretched and depressing numbers representing increasing human woe, will open higher. I’m aware that unemployment figures are trailing indicators, meaning that they reflect the past and don’t predict the future, but methinks it’s a bit early to dive back in if you were lucky enough to climb out of the pool before it was drained.
I’ve been wrong before. For the sake of the nation, I hope I’m wrong again, and IRA’s, Keoughs, 401K’s, college savings accounts, and rainy day nest eggs start showing a little green on the screen.
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