March 20, 2006

It isn’t just you

In his commentary Nuking the Economy: Forget Iran—Americans Should be Hysterical About This, Paul Craig Roberts provides some compelling statistics about the state of the US labor market.

Many willing would-be workers are frustrated and discouraged. They are regularly being told that the economy is fine, so why is it so hard to find a job. Because, there aren’t as many as we have been lead to believe, that’s why!

Oh, yes. And those of you who do have jobs in real estate, mortgages, and anything housing related, you might not have that either in the near future, if Wamu is any example. The forecast for the housing bubble implosion seems to be right on track. Check the huge increases in “days on the market” or housing inventories for San Diego, Pheonix, Sacramento - not a pretty picture.

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