Unemployment Up in May 2012

[Dammy]

http://finance.yahoo.com/news/job-growth-falters-may-123604088.html

U-3 is worthless as it's too manipulated to bother with. I'll post U-6 for May as soon as I can find them. Point to this post, things are sinking as they are in Europe and Asia and we will be feeling the recession bite in about the time of the US general election. Hope you all have been hedging by buying gold/silver because QEIII is going to throw some gasoline on the inflation inferno.

 

[faethor]

Definitely an interesting time in the USA. What we see is Q1 2012 isn't great. Though it is improve compared to any other than Q1 for about the past 5 years. Also, it appears the world is in a recession. The USA has the best numbers per capita out of any nation. Meaning if it's bad here it's worse everywhere else in the world.

The last time we saw a world recession start outside the USA was 1998. The result of this was lower food and lower fuel prices in the USA. Which in turned helped the USA get out of it sooner than any other nation and make greater inroads. Of course if we knew what'd happen this time we'd be making too much money to spend the day on Whyzzat.

 

[cecilia]

isn't it amazing that some Americans are So insulated that they don't understand what is going on in the rest of the world?

 

[faethor]

No doubt. Unfortunately quite a bit of American's don't get there's a bigger world out there. Which is why I've previously said the most important person to Obama's reelection isn't Obama but likely Germany's Andrea Merkel.

 

[FluffyMcDeath]

The last time we saw a world recession start outside the USA was 1998.

This one started in the US - in 2007. Any "recovery" in between was smoke and mirrors. 2007 wad when the system revealed itself to be broken. It remains broken to this day despite whatever the bean counters do to shuffle the numbers.

 

[robert l. bentham]