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Friday, November 21, 2008

Look at the picture...you don't need a Ph.D. in Economics to figure out what it means.


From Alan Krueger's blog (via Phil Rothman). The vertical axis is the percentage of workers who say their firm is either hiring (top line) or letting folks go (bottom line). The graphs are the three-day rolling averages of those percentages.
I am now prepared to say that double digit unemployment is a very real possibility, and soon.

1 comment:

derekp said...

Normally I avoid discussing any advice regarding buying or selling of stocks, but I felt this is important enough to share and warn you since this explosive situation might prove to be yet another ENRON.

Please review any holdings you might have in the
following stocks: American Can, Interstate Water,
National Gas Company, Northern Tissue Company.

Due to uncertain market conditions, I advise you to sit tight on your Can, hold your Water, and let go of your Gas. You may be interested to know that Northern Tissue touched a new bottom today, millions were wiped clean and millions more flushed down the toilet.

It's a tough market out there. Be careful!