They are so in-the-bag for economic recovery via Obammie the Commies socialist spending it is nauseating.
I skip over their absurd “spin” stories and go right to the comments, where I have unearthed mines full of good information.
Seriously, troll the comments on MW articles, FReepers, if you want to learn a lot about economics and finances.
Ignore the stories.
You are spot on!
Some MarketWatch comments:
“Meanwhile, the latest sales reports of leading retailers look nasty indeed — massive declines across the board. With 70% of the U.S. GDP generated by (mindless, senseless) consumer borrowing and spending, those phoney “green shoots” and that “3rd Quarter pick-up” of the comatose economy remain a pipe dream.”
“Air France CEO said this morning that the situation is as bad as it’s ever been. No green shoots whatsoever. Cargo has dropped. Business class empty.”
“And what about expected layoffs from state and local governments that can no longer add to their employment roles because they have spent every nickel they had or could borrow (i.e. California and every other state and city in the country). Most of these entities (as well as school districts, etc.) have no yet started to really layoffs employees and in fact many have increased as part of the stimulus.”
“Just more bad news trying to be spun as positive.
So I should be happy that over half a million people did one of the following:
1. Got laid off
2. Got laid off and used up all their severance pay (for those lucky enough to get it)
3. Got laid off and tired of living off their savings with no money coming in
4. Finally got awarded unemployment benefits after fighting with the employer that claims the worker was fired for “lack of performance”.
Yea, these numbers a real party starter alright.”
Amazing that they’re allowed to get away with citing “the insured unemployment rate” of 5.1% when the enemployment rate is about 10%.
That is purely a device to confuse people.