I know the media wants us to think the economy is “down down down” and we are in the worst depression since ‘29 but I can’t see it here.
My stocks are down, but other than that business is picking up a bit, and life is good. Our business ended last quarter on the rise and that rise has continued. Gas prices seem to have stabilized, which seems to compare with all other prices out there.
Of course, our “new Fearless Leader” has not really had a chance to step in and “change” things yet, so maybe the worst is yet to come.
People are saying that 7.69% unemployment is unreasonable. Let me review some history.
In the 80s we changed the way we look at unemployment. The current percentage is figured as the number of people that are collecting unemployment benefits divided by the number of W-2 employees that have contributed to the UI fund. This means that all those people who do not pay unemployment tax (a big chunk of the work force is unemployed) are not even figured in.
Previously the unemployment figures were based on census figures. So the 31% unemployment rate reached in the “Great Depression” is still great, and we aren’t even close.
It’s true that people are not working. The big companies have used this media induced “panic” to trim fat, cut deadwood, however you want to say it, because public opinion is on their side now. So really the same people that weren’t working before are not working now, they just aren’t getting paid a salary for it.
I look at it this way. I can panic, run in a hole, take all my money out of the bank, put it in a mattress and board the windows. Or I can keep on working my business, helping people, spending what I need to spend and get on with life.
I choose option 2.