So economic news continues to be bad, but it feels as if we are reaching the bottom of a trough rather than simply sliding down a mountainside. Stimulus money is just starting to reach the economy. The stock market indices have rebounded from their lows, up nearly 30%. Even my 401(k) is starting to look something like it did last year. But mostly it's the psychology, my psychology, that's changed. I feel optimistic that the job market will be opening up again next spring. I think many people feel that way. That anyone feels optimism at all with nearly 10% unemployment (more than 11% in CA) tells you something. I went to dinner at a new restaurant last night - opened 3 weeks ago - and it was crowded. So was the rest of the town out that night.
What are your stories out there? Any "green shoots" to be seen, as Bernanke put it? We know that jobs come back last in a recovery, although except for corporate insiders, nothing much matters except jobs.
Saturday, June 13, 2009
Are we turning the corner?
Posted by The Law Talking Guy at 3:42 AM
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2 comments:
I had some of the same feelings, but when all of the recent violence broke out (abortion clinic, museum) and I feel like there will be more, my psychological recovery took a hit. I feel like we are headed for a civil war.
If I can detour here, has anybody heard about what Rep. Kirk (R) Illinois, did recently? He went to China, our largest creditor, and told them not to believe the US budget numbers the Obama admin is reporting. He told them we are not a good risk and not to trust America. Now I ask you, isn't that some sort of treason?
It's not treason, but it is obnoxious.
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