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    More: News, Great Depression, Labor Department, Unemployment, Layoff, labor market, economists' dire predictions, Labor Department's Bureau, U.S. unemployment rate  
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2613 clicks; posted to Business » on 05 Jun 2020 at 2:55 AM (1 year ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-06-05 1:16:40 AM  
6 votes:
But what's U-6?
 
2020-06-05 8:29:26 AM  
3 votes:

vygramul: U-6


You have sunk my battleship.
 
2020-06-05 12:24:33 PM  
2 votes:
Fark user imageView Full Size

Welcome to the stock market, where the numbers are made up and the facts don't matter.
 
2020-06-05 1:00:45 AM  
1 vote:
The amount the Dow went up this month ?
 
2020-06-05 3:54:20 AM  
1 vote:
Stonks are pure cryptocurrency now. It's all completely speculative trading values and the money is made on the bets. It's like craps meets Monopoly.

/ Except ALL the old, floppy worn-out shoes get thrown into jail.
 
2020-06-05 7:53:04 AM  
1 vote:

thisispete: At the peak of the Great Depression in 1933 it was 24.9%.


I've said it in other threads, but we'll cross that at the end of this month.  46 state governments and their public schools and universities have been treading water on last fiscal year's budget, but the new budget year starts July 1st.
 
2020-06-05 8:19:35 AM  
1 vote:

thisispete: At the peak of the Great Depression in 1933 it was 24.9%.


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2020-06-05 10:19:38 AM  
1 vote:

Sajuuk Khar: QFarker: Somewhere between 13% and 14%.

13.3%, gain of 2.5 million jobs in May.


I just saw this. What is going on?

I doubt this.
 
2020-06-05 12:27:02 PM  
1 vote:

dragonchild: CrazyCurt: Stonks are pure cryptocurrency now. It's all completely speculative trading values and the money is made on the bets.
Have you been living under a rock the past 15 years?

I'll give you that this was widely regarded as true, way back when.  But there's nothing speculative about the stock market today.  It's the exact opposite.  The stock market could not be any less speculative.  The federal government has made it consistently clear through its actions that it will bail out the rich at any cost to the country.  Plague, civil unrest, economic depression -- fark the country; they will throw everything they have at protecting the stock market over any other priority.  With that level of brazen dedication, it's actually a darn safe move to put your money there.  If anything, it could be the safest investment in the world right now, so why wouldn't it be up?  The real economic impact of the pandemic is inconsequential to the stock market if the government response was to protect the latter from the former.

The health of the stock market has nothing to do with what's going on out there, because the health of the stock market has literally nothing to do with what's going on out there.  It's not so much a casino as it is analogous to a mammoth trust fund for the rentier class that's got a giant pump and hose connecting it to the U.S. Treasury.


WeWork.  Shut up.
 
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