“Millions of trees will be saved if the NY Times and other lib papers DIE.”
I love it! Could we persuade a bunch of liberal protestors to start a movement to “Save a Tree! Cancel the Times!”
That would be delicious.
^^^^^^^^^^^^
700K jobs lost. That’s what we traders call an Armageddon print, folks.
Yup.
The rule of thumb is that > 400K jobs in two successive reports is cause to worry about a recession.
We’re well past that point.
My bet: We’re going to see an unemployment rate over 10% by the end of 2009. If we don’t, I’ll be happy to be proven wrong.
But the economists and policy wonks have been consistently under-estimating the job losses, coupling and debt failures in this crisis, and I’m going to bet that the Fed’s 9% prediction is going to be on the low side. The Fed has yet to get one of their predictions right throughout this mess.