October Employment Sails Off the Cliff
I really should avoid drinking coffee on an empty stomach and writing about the media, it certainly isn’t a calm start of the day for me. Readers should remember it gets complicated, the blogosphere can’t survive without professional reporters and I wouldn’t get so angry at the little yappers in the journalism corps if we didn’t need them to perform so much better, dern them.
Adding to the all the national joy this day is the fresh employment report, far worse than anyone expected. Retail sales have vanished, industrial production just hit a 20 year low and now unemployment just smashed through the shoulder barrier. Currently the market is in another dead cat bounce after losing 8% in the last two days.
Stimulus can greatly alleviate the pain and get the economy back on the right track—if it’s stimulus for the little people instead of lying rich bankers. Food stamps, unemployment benefits, public works. Congress has shown interest in such amazing common sense this week and Bush has threatened to veto it, of course, the little people mean nothing to Republicans. Well? Why else would Bush veto public stimulus?
Simply reviewing the utterly outrageous scenario above I am reminded again why I make no excuses for occasionally ranting and being acidly profane. I don’t care if it takes a thousand years, oceans of sweat and blood with enough profanity to eternally damn me, one day this country will be set up and run for the little people, I swear to god.