"Oops. Back in August, I said that I thought there was only about a 1 in 3 chance that unemployment would break the 10 percent barrier. I think it was a well-reasoned analysis, but sure did turn out wrong. The data from the establishment survey -- which is completely separate from the household survey by which the unemployment rate is calculated -- wasn't quite as bad. This is the figure that the markets tend to trust more, which is one reason the Dow is slightly up today (although I do think it's somewhat overvalued and has been for a month or so). Still, even the "good" report had the economy shedding another 190,000 jobs."
- Steven Perez
from Bookmarklet
Deficit reduction died Tueday this sealed it, Stimulus 2 is certainly on the way...
- WarLord