Friday, October 2, 2009


Job Losses "Far Worse Than Expected" in September

I don't want to be the jerk who makes a pessimistic prediction and then gloats when it comes true, so I'll just give you a link and not say anything more about it.

I don't get into all the "leading and lagging indicators," consumer sentiment, and all that jazz. All I know is that if the Fed sets the price of short-term borrowing to just about zero, and the feds take over the financial sector, and the government takes $1.5 trillion out of the private capital markets, etc. etc., that the economy is going to be awful for a long time.

The really annoying thing is that a year from now, if and when unemployment is still above 8% and consumer spending "is surprisingly sluggish," it's not as if Krugman et al. are going to say, "Whoa, we were wrong! I guess half-socialism gives you an economy half as robust as the Soviet Union's!"

I agree, but I bet Krugman blames people like you, just as people blame Hayek for the Great D.
The thing that sucks is, I'm 22 just discovered Austrian Economics, and now I'm scared shitless as to what's going on in America, granted I'm in Iraq lol. I just wish I knew what to do in order to stay "ok" once the dollar crashes, guess I better stock up on guns and ammo hehe
Who are these morons that are constantly surprised by rising unemployment #s?

It seems like just about every employment announcement is followed by the same idiotic headlines: "UNEMPLOYMENT RISES UNEXPECTEDLY."
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