Whoo-Hoo!
Those were some kick ass employment numbers. For the month of December, only 524,000 people were fired—keeping the national unemployment rate at a lowly 7.2%. And, to make matters better, the November fired data was revised up to 584,000 people getting the ax.
Mind you, 524,000 folks is less than 600,000 and 700,000.
People, I got to tell you, this is great news for the markets. Sure, if you factor in temp workers and other losers, the unemployment rate is about 12%. But remember, Obama is going to print $1 trillion dollars, in order to make new sewer caps and underground pipe fittings.
We’re saved!
Most of my Wall Street buddies, who are recently out of work, will likely take Obama up on his construction machinations and put down their 24 karat commission pens for a nice yellow hard hat.
Hell, I expect the market to punch the life out of the bears today, as Wall Street rejoices and basks in the glory of such a prodigious number.
Think about it: it could have been worse.
With that being said, after enjoying today’s trading session, I’ll be sure to scurry on over to the local pub, with a few of my Wall Street buddies, in order to celebrate this fine number. God willing, we may be able to share our good nature with some blue collar folk. I am sure they feel just as rambunctious, as the coked out money managers at Legg Mason putting in market orders for DRYS this morning.
We’re saved and rally time!
Comments »