JOB LOSSES 533,000................Experts predicted 330,000!!!

[fdjake]

This is getting really incredible.  These job losses are just STAGGERING.

If you look at the nearest comparison you have to go back to the 1970's.  During that time, we had a comparitive quarter which lead to a GDP loss of 8.0%!!!!  Remember....the text book definition of a DEPRESSION is a GDP loss of 10% or greater.  I believe we WILL see that level of loss.

This is going to affect EVERYTHING.

Be prepared for a VERY LONG, VERY DEEP recession/depression.

[Damivon]

s&P fut -2.7%
Dow fut -2.2%
Nasdaq Fut -2.6%

You will make money today :-)

[propertymanager]

Be prepared for a VERY LONG, VERY DEEP recession/depression.

You're a doom and gloomer FDJake.  If you would only watch CNBC, you would learn the truth - that the recession is almost over and happy days will soon be here again!  The average recession only lasts 16 months and the stock market leads the way out of a recession long before the recession is over.  I'm expecting DOW 16,000 any day!  LOL!

Mike

[fdjake]

Oh man......Isn't it amazing Mike???

I tell people if you want to make money in the stock market, watch CNBC EVERYDAY.......

Then do the EXACT OPPOSITE of everything your told to do by the dopes they parade out on that channel!!!!

Yep.....Nothing like CASCADINGLY WORSE UNEMPLOYMENT numbers to BOOST the stock market.

But hey........They'll throw lot's of money at the people to speed up SPENDING........The only problem with that theory is....

PEOPLE DON'T BUY THINGS WHEN THEY DON'T HAVE A JOB!!!!!!

A lot of people are missing this.....They think because mortgage rates dropped last week by 50 basis points there's going to be a stampede into housing......NOT GONNA HAPPEN......WHY you ask????

Because they WAITED TOO LONG!!!!!!!

If the dopes in Washington had got their arms around this BEFORE OIL went to $147/barrel in July we could have probably avoided a complete SHUT DOWN of our economy.   That didn't happen....Now it's too late.  The wheels are in motion....Job losses like these will only lead to MORE job losses....and it FEEDS on itself.