Friday, September 4, 2009
Unemployment: "What goes up, must come down / spinning wheel, got to go 'round"
Apparently Blood, Sweat and Tears work for CNBC:
Unemployment Jumps to 9.7%, But Pace of Layoffs SlowsSuppose there's another crash in September, and unemployment jumps up to 11 percent by the following report? I imagine we'll see commentators discussing the decline in the third derivative of the 140-year moving average of the "improving labor market."
The pace of U.S. job losses hit a one-year low last month but the unemployment rate jumped to a 26-year high of 9.7 percent, the government said Friday in a report showing a slowly improving labor market.
Comments:
But according to the Fed video game you posted on your site, psychotically low interest rates mean low unemployment! This can't be happening!
# posted by 
: September 4, 2009 at 10:31 AM
: September 4, 2009 at 10:31 AM
"I imagine we'll see commentators discussing the decline in the third derivative of the 140-year moving average of the "improving labor market."
I almost fell out of my chair laughing when I read this; you really do an excpetional job demonstrating absurdidty by being absurd.
It is amazing how all the CNBC-types have to resort to improved second, third, and fourth derivatives of the unemployment rate to support their "green shoots" theory of a recovery.
I almost fell out of my chair laughing when I read this; you really do an excpetional job demonstrating absurdidty by being absurd.
It is amazing how all the CNBC-types have to resort to improved second, third, and fourth derivatives of the unemployment rate to support their "green shoots" theory of a recovery.
Good stuff. I was getting aggravated at the exact same thing this morning looking at bloomberg.com.
It's all marketing, right? The average Joe turns CNBC off if he thinks the equity markets are going to be garbage for the foreseeable future.
And to Anonymous' point, you're right. This is all just an illusion. No one is actually getting laid off. Pay no attention to the man behind the curtain.
It's all marketing, right? The average Joe turns CNBC off if he thinks the equity markets are going to be garbage for the foreseeable future.
And to Anonymous' point, you're right. This is all just an illusion. No one is actually getting laid off. Pay no attention to the man behind the curtain.
# posted by : September 4, 2009 at 10:40 AM
: September 4, 2009 at 10:40 AM
I laughed out loud when I saw that you and I posted essentially the same thing at roughly the same time. Yours will be read by more people, but my mom enjoys reading mine.
Aristos,
You got to play the game, man! For example, link to your identical post in your comments here. I've been siphoning readers from MarginalRevolution for months that way.
You got to play the game, man! For example, link to your identical post in your comments here. I've been siphoning readers from MarginalRevolution for months that way.
So Bob if I wanted to play this game, you mean I should just post a link to my site:
http://www.economicpolicyjournal.com
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