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Friday, January 8, 2010

Unemployment is Horrendous and Yet Markets Still Not Going Down

History repeats itself. Market is manipulated and complacency abounds. People still do not seem to understand that there is no jobless recovery, nor even a slow down in the increase in unemployment. Also, the real unemployment rate is nowhere near the low 10% number that is being told to the public, but rather a grizly 17%+. The latest report today, Jan 8, showed 85k more job losses. The real number is even higher considering this number is calculated from a survey of a selected group and given all the other little games we have witnessed from the economic data from the Labor Department there is no way that group was selected randomly.

This just points that the economy is horrendous, there was no recovery whatsoever, and the economy will continue getting much worse. What does this say about the stock markets? They will eventually crash given that fundamentals eventually win over any manipulation or complacent stupidity.

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