Wall Street Journal headline this morning:
Dow at 10,000 as Crisis Ebbs
My ass.
How is the shockingly high percentage of homes in foreclosure and a 10% unemployment rate the ebbing of the crisis.
The only positive thing I see here is at least some people are recovering losses in their retirement plans.
I'm waiting for teh double dip on this thing. Banks are still ridiculously exposed on consumer loans and mortgages, families are still losing whatever wealth their homes represent, and with one in every ten people LOOKING for a job unable to find one, and however many people that represents who have given up and aren't even looking anymore, well, I don't see how a recovery is going to be sustainable.
But you know, that's just me. I hardly own any stocks and I just rent and my job is pretty secure, so screw you, WSJ.
My ass.
How is the shockingly high percentage of homes in foreclosure and a 10% unemployment rate the ebbing of the crisis.
The only positive thing I see here is at least some people are recovering losses in their retirement plans.
I'm waiting for teh double dip on this thing. Banks are still ridiculously exposed on consumer loans and mortgages, families are still losing whatever wealth their homes represent, and with one in every ten people LOOKING for a job unable to find one, and however many people that represents who have given up and aren't even looking anymore, well, I don't see how a recovery is going to be sustainable.
But you know, that's just me. I hardly own any stocks and I just rent and my job is pretty secure, so screw you, WSJ.