America slides deeper into depression as Wall Street revels

[Goldstein1984]

It's always interesting to get the impression of outsiders looking in...

From the article:

"The labour force contracted by 661,000. This did not show up in the headline jobless rate because so many Americans dropped out of the system. The broad U6 category of unemployment rose to 17.3pc. That is the one that matters."

"Wall Street rallied. Bulls hope that weak jobs data will postpone monetary tightening: a silver lining in every catastrophe, or perhaps a further exhibit of market infantilism."

More at: http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6962632/America-slides-deeper-into-depression-as-Wall-Street-revels.html

[villager]

1. is there a bank apologist crowd here now, who unrecs this stuff?

DU is gettin' plain goofy these days, I tell ya!

[DJ13]

2. There will be no recovery until the wealthy feel the recession

Thats why the Bush/Obama support for the TBTF banks and their secretive propping up of the stock market needs to end.

They need to hurt before they'll change their destructive behavior.

[Goldstein1984]

3. I think that is the most fundamental of truths about the economy

There will be no change until the shadow government feels the fear and the pain.

[Jackpine Radical]

4. The Shadow Government isn't done sucking the blood out of the corpse.

When they get done, they will just move on to another host. They will feel no pain or fear.

[Goldstein1984]

5. They are a lot like locusts that way

Once they're extracted every last bit of wealth from this nation, they will move on to another field and and another gated community.

That's why I reject out of hand any notion that spending money is patriotic. Believing that would be like agreeing that sending money to a televangelist is "religious."

[SarahB]

6. kick nt