so when do bankers start jumping out of windows and throwing themselves in front of trains?
in other news, just when thought your tour of bizarro world was over, statistics come out indicating that job cuts for the month of february are the highest in five years, yet the unemployment rate dropped last month from 4.9 percent to 4.8 percent.
Friday, March 07, 2008
Have A Cup O' Depression This Morning
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6 comments:
i think the unemployment rate doesn't count people who have given up and stopped looking. correct me if i'm wrong.
oh and p.s. - the banks will continue to be bailed out until all private banks are owned by the chinese government / the united arab emirates.
(for those of you who think i'm wearing a tinfoil hat, google it)
i know why the rate dropped. i mention the drop in the unemployment rate because the juxtaposition of the two numbers highlights the absurdity of the way the rate is calculated.
yes it is absurd.
Bankers jumping? Its just evolution is action. :) Only the stupid bankers will be ruined and will have to jump thereby pruning up the gene pool a bit. :)
Granted it is going to drag us all down some.
Plenty of people did not jump into the sub-prime sludge pit. Annaly (NLY) has nothing but A-rated mortgages and will probably be buying up more as the genetic dead ends have to sell their good paper at discounted prices to cover their bad paper.
Buy some NLY if you can.
I think Emily2 makes a good point about private banks though.
i'm just hoping to hold on to my job, so i can take advantage of lower housing prices. that's assuming, of course, that we avoid the bankers jumping out of windows scenario which would indicate systemic failure is under way and my biggest worry will be where my next meal is coming from, shelter be damned. by the end of it, we'll be owned by arab autocrats and chinese communists. how capitalist-like and free-markety that will be.
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