Unemployment much higher, Fed wrong

[Restrain]

You may disagree with this article, but it points out several issues with unemployment, where the stated unemployment of 5.5% is dead wrong.

http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/FedChiefStillDoesntGetIt.aspx

 

[JonGalt]

Just curious, how long have they been using the same unemployment model?

 

[Big ole Boy]

Novak at 77 . a microcosim of an inculcated mind

I was listening to Robert Novak speak last night on the Jerry Doyle radio show talking about how the talk of depression is completely "non-sensical".

... listening to Novak ...... for years .... I come away with the sense that the man now 77 ..... has been completely inculcated like so many older minds in and around Washington ....

..... the collective mind around Washington is much like the worthless unemployment and inflation models .......

..... models and minds overcome with an insane narcissim and complete lack of competency when it comes how the universe rotates around mathematical principles related to "real work".

.... A Novak ..... tiplifies the pathetic undercurrent of post depression conservtives whom have been labotimised by the left.

Novak, whom is treated by the media as a conservative .... is a flaming and weak minded liberal ..... surrouned by more flaming and weaker minded liberals .....

 

[Marcia Langley]

I don't know anything about his general conclusions but this rings true:

The bulk of gross domestic product growth in the 2003-07 up-cycle was a function of mortgage-equity extraction, and 30% to 40% of new jobs were created in real-estate-related industries. Now that's all gone.

The "system" extracted wealth from the homeowners and "created" exponentially more through their instruments.

I really don't understand how anyone could expect the stock market, for example, to not fall back to 2003 levels.