Posted by
grad_1986 on Friday, November 13, 2009 12:35:07 PM
I am tired of hearing commentator after commentator talking about how the number of jobless claims is "slowing" (still RISING ... but SLOWING) and that may be a "sign" that the recession may be ending. Yet no one sees that the reason for this is that the Christmas (I refuse to say "holiday season") is upon us. In talking with various people, stores are hiring temp-jobs to fill in as they normally do. But come January, where will all those jobs be? GONE! That's where.
Today the jobless level is at 10.2% (Obama said that without the stimulus we may see unemployment at 8.0%). After Christmas I believe we will see that level go dramatically up and maybe reach levels of 11 or 12 percent. Let's be real here. Anyone who says the worst may be over is a fool. The price of gold is rising faster than ever, showing that many people (including myself) have no faith that all this spending is going to have a good effect on our economy. With that level of pessimism, I think we are in for a rude awaking sometime in January or February and we need to stop deluding ourselves like the wife of an alcoholic husband that thinks he will stop drinking ... THIS TIME. We take any good news they have to offer us as a sign that its all going to be alright soon rather than look behind the curtain to see what really is there.