Thursday, February 28, 2013

All Better Now

No jobs report tomorrow. It'll be out next Friday. No crystal ball, but I'm guessing we'll just continue to slip sideways. I used to root for bad news. Not actual bad news, just the worst possible measurement of it, in hopes that bad news might spur the people who rule us to do something about it. And, yes, the Fed has done stuff through the ineffective banking channel. Probably better than nothing, but unless they fire up the helicopters there isn't much they can achieve.

Even if B. Barry Bamz was our benevolent dictator, and didn't have to worry about those pesky congresscritters, I'm not sure anything would spur action. High unemployment is the new normal.