- So much for economic "green shoots."
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- The Obama administration and the Federal Reserve, along
with the servile corporate media, have been quick to grasp at and trumpet
every little suggestion that things might be improving, as they did when
the Labor Dept. announced last week that new unemployment claims had dropped
to "just" 434,000, from a high of 684,000 in the week ended March
28 or last year.
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- Or when the Commerce Dept. reported last month that November
housing starts had risen by 8.9% compared to the prior month.
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- Of course, what none of the rosy analysts and politicians
mention is that the number of new unemployment claims would be bound to
fall even if the economy were getting worse, because so many of the people
who are covered by unemployment insurance have been laid off already for
months, or even for more than a year already, and so the total pool of
those eligible to file claims is much smaller....
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- For the rest of this article, please go to:
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- http://www.thiscantbehappening.net
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