BLS Seasonal Adjustments Gone Haywire; 11% Unemployment Coming by May? Mish Shedlock’s blog
“Unless it’s different this time (I figure it is not) a reversion to the mean that slightly overshoots in a May-June timeframe will lop off a whopping 1.3 percent off the posted seasonally adjusted rate of 9.7 percent just announced. In other words, all things being equal (no job gains or losses), we could expect to see the unemployment rate approach 11% by May!“
Pratap Chatterjee, Destabilizing Pakistan TomDispatch
Hair-raising take on the ObamaWar
The Eurozone: Deja Vu Argentina 2001 & Other Thoughts Macromarket Musings
Read these two articles to see the Krugman model in action.
This Trend is Not Your Friend: Wall Street’s Killer Instinct Spells Death Knell for Jobs Pam Martens, CounterPunch
If you ever get the idea that this crisis was the result of stupidity, this Wall Street veteran has a few words for you.
“Just like two people rowing a boat, if the United States first throws the strokes into chaos, then so must we.” We don’t know Luo Yuan, but this asshole needs medication, stat!
The Death of the Workforce EconomPic
“Think about this. In January 2010, almost 3 more people out of EVERY 100 that can work, are no longer even looking and more than 6 more people out of EVERY 100 that can work aren’t as compared to the workforce in January 2000.”
The Paradox of Decreasing Consumption The Great Depression of 2006
We don’t know if this is true, but it is an intriguing thought: America is downsizing at a drastic rate. Costs will go up while this happens. Then follow the bankruptcies, and then we get the lower rates.