August 6, 2010

Unemployment Unexpectedly Flat

Well, I was wrong. I thought the unemployment rate would tick up to 9.6% but it stayed flat at 9.5%. Not surprisingly, the station I was listening to stated the U.S. economy 'unexpectedly lost' jobs. In the 100,000+ range - I didn't catch the actual number.

It didn't move the unemployment rate but it sure doesn't seem like a recovery is under way. Not a robust recovery like Reagan provided. Calling it tepid would be being generous.

It makes you wonder about that stimulus that never worked. $787 billion and then an omnibus bill for over $400 billion. What did that money buy America besides more debt? It has to be the single biggest swindle in the history of the world. Theft on a monumental scale.

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