Unemployment at 6.7% is not that bad. Europe has had a consistent unemployment rate around 8% for years. You guys need to keep things in perspective. In fact, until unemployment tops 10% there's not that much to worry about. The main bulk of the layoffs are from financial institutions. Now all those people wasting their talent inflating paper assets can go into the real economy and make something useful with their knowledge.
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The economy is booming
- Thread starter RiceRocket
- Start date
Quote from RiceRocket:
Unemployment at 6.7% is not that bad. Europe has had a consistent unemployment rate around 8% for years. You guys need to keep things in perspective. In fact, until unemployment tops 10% there's not that much to worry about. The main bulk of the layoffs are from financial institutions. Now all those people wasting their talent inflating paper assets can go into the real economy and make something useful with their knowledge.
The job loss is accelerating rapidly. the average workweek is falling to its lowest in a long time, and this is usually a sure sign of a lot more future layoffs.
The real joblessness is estimated at more like 15%, as there are many uneremployed, only part time employed, and those who have given up in despair.
Elderly people are in such dire straits with stock, pension and housing value losses, that they are now coming out more and more seeking and not finding jobs.
Quote from TraderZones:
The job loss is accelerating rapidly. the average workweek is falling to its lowest in a long time, and this is usually a sure sign of a lot more future layoffs.
The real joblessness is estimated at more like 15%, as there are many uneremployed, only part time employed, and those who have given up in despair.
Elderly people are in such dire straits with stock, pension and housing value losses, that they are now coming out more and more seeking and not finding jobs.
I retired several years ago, then finally my employer figured it out and they laid me off... now when I venture out to look for a job that does not exist I feel like a mole... getting old is an adventure, nothing more or less... I always sort of liked moles, maybe I had a favorite book when I was a little guy where the main character was a mole or something...
My house value has fallen but wtf do I care, I live in the dang thing just the same, it's paid for, sort of like when they took away my driver's license, wtf, the car runs without it... If I had paid off all the rentals I wouldn't have to squeeze the tenants so hard but hey... they aren't that old yet, they can stand it a little longer...
Quote from RiceRocket:
If you go on a road trip, you will see every other vehicle on the road is a tractor-trailer.
I have the highway 101 in California in front of my house. I haven't seen it this busy in a couple years.
http://www.weatherbonk.com/weather/webcams.jsp shows pictures of expressways. I am looking for trucks.