Employers cut 80,000 jobs in March, most in 5 years: Another cause for optimism?

[Pale Blue Dot]

Take a look at this article from MSNBC. I think it sums up the thinking in the financial sector right now:

"Wall Street’s main stock indexes were lower Friday and Treasurys rallied following news that the economy gave up 80,000 jobs last month, the biggest loss in five years.

Although the job losses are a significant sign of economic weakness, some investors were reassured that the total was not 100,000 or more."

http://www.msnbc.msn.com/id/3683270/

In other words, the news is horrible, but it's not quite as horrible as it could have been, so that's good news! To use a sports analogy, that's like throwing a party because your team only lost by 25 points when they were expected to lose by 30.

The most significant feature of these job loses is that there is currently no mechanism in our economy to bring those jobs back. The housing downturn and the upswing in food prices have left people without cash. They're spending less, so retailers and manufacturers are cutting jobs and/or sending them overseas. This, in turn, decreases furthur the amount of money people have to spend. It's a death spiral, and the financial sector and other economic optimists have yet to come to terms with it.

It doesn't matter right now whether the unemployment rate is bad, really bad, or really, really bad. The point is that unless we are willing to make some drastic changes, those jobs are gone forever. We've lost the game, America. It's time to deal realistically with that fact.

[Tandalayo_Scheisskopf]

1. Economic Security...

Is at least as important as military security. Perhaps we will learn that someday.

First, we need to get the sociopaths and meatheads out of government.

[LiberalEsto]

2. Message to the 19%

Are you better off than you were in 2000?

[maseman]

3. At least we're fighten' them over there

and no over here.

[LiberalEsto]

4. Oh, I think they're fighting us here

"They" being BushCheneyCorporations vs "us" poor and working class Americans.

[maseman]

12. you're dead on my friend

Fighten' over there while getting butt-rammed over here.

[Red Zelda]

5. Sure

Stocks go up when jobs get cut. It's our fascist economy.

[Pale Blue Dot]

11. I think they actually BELIEVE it's going to get better.

It's not, and they're going to get burned too (eventually).

[TahitiNut]

6. Hear that sound? That's the sound of our standards being lowered again.

Pity the "ownership class" ... having to rely on "furriners" working to create their wealth. :nopity:

[spanone]

7. but but but our economy is 'robust'

:sarcasm:

[ProfessorGAC]

9. No, No. You're Right

I heard it on TV! It must be true. Even John Fund said so, and he works for WSJ, so he just MUST know what he's talking about!

I don't think i need the sarcasm thingie!
The Professor

[Stinky The Clown]

8. NutJobJohn said, just the other night on Letterman, that we have created millions of jobs

He's confident in the economy.

[ProfessorGAC]

10. He's Right, Though

What he didn't mention is that we're about 3 million jobs short. Those inconvenient facts!
The Professor