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Strategies & Market Trends : Quarter to Quarter Aggressive Growth Stocks
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From: Jack Hartmann7/10/2009 10:07:44 AM
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I never had so many people call me looking for work. There are no jobs.
IL is laying off 2600 due to inept budget management.
My friend at unemployment said so many of the claims are manufacturing sector. He said the 26 weeks of unemployment benefit were extended 20 weeks by the Fed and 20 more weeks by IL. Now there is no more and people are screaming at him that the government owe them the money. The construction people are screaming because the IL rules say they must be actively looking for jobs vs. sitting at the union hall. And IL has no budget. He is prediction double digit nationwide unemployment by the spring. No one is hiring to any meaningful extent.

Oil has to drop to $50. The supply cannot drive demand up in the face of rising unemployment and excess capacity. Even Boone Pickens cancelled his huge wind farm project in Texas.

There were 19 tower cranes in downtown Chicago last year. Now there is just one. Commercial real estate is not building. The Chicago Spire cannot get funding.
Apartment vacanies are at a 26 year high. I am thinking people at moving in w parents and children to save money. My kids might at home for a few more years.
It is ugly out there. Still 70% cash. I think we grind lower to the fall.
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