Unemployment jumps 5.5%, and what Obama’s reading

And even me, the eternal market optimist, has to say uh-oh. A quick check at the market open suggests it will be a rough Friday. I thought I’d share a comment I read from the WSJ MarketWatch article:

Hey, the USA is a loser. The whole country depends on the government to solve the problems by spending money printed on a press. Wake up and smell the coffee. Your era of dominance is over, kaput. You’ve sent your jobs and you money to China, India, Vietnam, Mexico, etc seeking cheaper labor. You closed all your productive enterprises and became a nation of paper shufflers, and now those jobs are sent to India as well. Better learn how to work again and make something the rest of the world will buy from you.

This comment corresponds well with the next photo and description. Maybe Presidential candidate Barack Obama agrees? He’s caught on an the tarmac with The Post-American World.

From Omnivoracious:

Meanwhile, let’s summarize: here we have the current frontrunner (barely) to be the 44th president of the United States (the son of a Kenyan man and an American woman, named Barack Obama), reading the top-selling current events book of the season (by an immigrant from Mumbai named Fareed Zakaria) called The Post-American World. Some evidence that we may not be living in Nixonland anymore.

The site is a good one for book lovers. Hang around for a while if you go there. It’s written by the book editors of Amazon.com.


As to my own reading list, I finished Dreams from My Father last night. It’s worth reading. If you are planning to vote for Obama and haven’t read the books, I guess I have to ask why you’d choose such an angry, militant man as leader for our country. He defines his world as black vs. white, and I’ve always thought that to be the basic definition of racism.


PS – I just figured out how to embed and RESIZE a photo in html. And on one cup of coffee, too!


  1. Still half…

  2. Not only did unemployment jump to 5.5%, but the Dow dropped 400 points after oil rose to $140 per barrel. None of these are signs that the economy is headed in the right direction.

  3. True Zach. On the other hand, the Euro ETF I bought a year ago just tallied a 20% return. And, in a month, it could be a whole different story.

  4. And I suppose some of you are longing for the socialist Dems to increase taxes and that will cause the economy to rally, oil to drop back to $60, and inflation will go to virtually nothing. It won’t be long and you’ll be moaning that somehow Bush left them with big problems. It will always be his fault even though he really has nothing to do with any of it. It’s Congress’ fault for you novices!

  5. Idiots blame the President for all our problems. Pseudo-Intellectuals blame Congress because it’s posh.

    The real blame? That’s not quantifiable, but both of the latter share PART of the blame.

  6. We both forgot to place the blame where it really belongs…on the electorate which continues to vote for the same awful politicians year-after-year. WE have the power to change things but we don’t seem to care about anything but our wallets. I use “we” in the general sense.