Dec

Private Sector Sheds 169K Jobs in Nov.

“Private-sector firms in the U.S. eliminated 169,000 jobs in November…the private-sector has shed jobs for 22 months in a row.”

Being that I don’t see the usefulness in torturing statistics in a vain attempt to predict the future, I won’t hazard to comment on December’s losses.* Suffice to say that the stimulus, TARP, and the other trillions that have leaked out of the Treasury and into private hands has done nothing to stop mounting unemployment. December will, almost certainly, see more job losses; and when the bleeding stops, recovery will be treacherously slow.

Gold, it is worth mentioning, is now over $1,200 an ounce, and climbing steadily – a predictable outcome of TARP and any other gov’t scheme that includes printing money.

People often mock those who relate the Obama “recovery” to a second Great Depression; I maintain our only saving grace is the 22nd Amendment.

*I’ve tracked this figure for many months now, and this is the first time I recall that the news story accompanying the newly released joblessness figure was not related back to a failed attempt at prediction. Maybe the “experts” have finally given up.

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