The MSM is trumpeting the slightly lower unemployment figure for November 2009. Wowee!!! Dropped from 10.2% to 10.0%. MSM is falling all over itself to give credit to the Second Carter Administration.
Last week we were supposed to be psyched about the possibility that Black Friday sales would be robust and result in an uptick in our consumption economy. Actual results were mixed.
Back to unemployment. I would be extremely surprised if unemployment did not drop in November and again in December. Why? Simple answer here.
Many, if not most, retail establishments hire additional staff during the holidays. For many businesses, the Christmas season is a significant amount of sales. Some retailers have 25% or more of their sales in November and December. In years past, I recall news stories about businesses that would not be able to survive to the new year without the significant increase in business from holiday sales.
Just look at how many companies fold right after the holiday season. Not too many years back Montgomery Ward folded its tent after holiday sales failed to keep it afloat. Look to see a whole lot of well-known retailers close up shop in the first quarter of 2010.
My response to the much-heralded November unemployment figures: Keep on Prepping.
My prediction is that after two months of slight decreases in unemployment (November and December), unemployment figurs will increase by at least 0.5% for January and keep climbing. The Obamessiah, after claiming credit for the drop in November and December, will be clueless as to the increased unemployment next year. After all, he has never held a private sector job or had any management experience prior to becoming Marxist-in-Chief.
We are not out of the woods. As a number of other commentators have said recently, this will not end well.
Silver Takes the Elevator Down, Report 30 April, 2017
45 minutes ago