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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: mishedlo who wrote (208129)12/6/2002 6:48:19 AM
From: Earlie  Read Replies (3) of 436258
 
Mis:

The U.S. employment numbers are a complete joke,.... even on Wall Street. I would be surprised if the markets played this nonsense for more than a one hour trade.

The pros recognize that when folks lose their silicon Valley software engineering job and then take on a "temporary" job flipping hamburgers at Wendy's just to make ends meet, his "underemployment" doesn't show up in those nutty figures, but it does impact on an economy that depends on the (massively indebted) consumer to keep things going. I won't get into the insanity of not counting those who get so discouraged that they stop looking for a job or those who simply exhaust their unemployment benefits and fall off the list.

The U.S. economy is picking up momentum to the downside at the moment, and one of the best ways for us to track this is through the lay-off notices.

Incidentally M., I'm not shooting at the messenger with the above, as I know you are well aware of all this.

Best, Earlie

Best, Earlie
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