That's down only 23% year to date.
Pretty remarkable, that. I mean, look at these first time claims for unemployment over the last two weeks: 8.7 million not-seasonally-adjusted, 9.9 million seasonally-adjusted.
The market in the past has often risen on bad jobs numbers, but this is ridiculous. It's a total disconnect. These are apocalyptic numbers, yet the market is holding on just 23% down.
There's trillion$ of aid in the pipeline to bail out businesses and individuals, but how long can that last? And to what effect? At some point the laws of supply and demand and inflation will have their say, and it isn't going to be pretty, especially if a 4th bill is passed in the Congress, which now seems likely. Had economics ever been susceptible of replacement by passing bills, we would have done it long ago and enjoyed prosperity without work all this time!
Yeah, right.
The coronavirus infection is a momentous turning point for America.
