Yes, jobless claims are dropping, but I don't like the spin here. Let me put it this way - Once you lose so many jobs, you are going to be at the bottom, and not lose any more. So new jobless claims will drop. But it doesn't matter. New jobless claims can drop to zero, but you still have a crapload of people out of work, and that is key. The big question is this: When are the jobs coming back? Zero jobless claims, if it should go that low, might be nice, but they dont' tell the true story, or show the whole picture. They are just a blurb, just something to spin, while people suffer for the sins of a kakistocracy. Kakistocracy? What is that, you ask?WASHINGTON — New requests for unemployment benefits fell sharply last week after rising in the past three weeks. Still, claims remain much higher than they would be in a healthy economy.
Kakistocracy - Rule by the incompetent.
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