Friday, November 7, 2008

Stock Market Up as Jobs Go Down?!

You didn't ask me, but I know very little about economics or financial markets

But what I do know is what a greedy pig is when I see or smell one.

And institutional investors in the stock market are those greedy pigs.

the Labor Department reported that the economy had lost 240,000 jobs in October, lifting the unemployment rate to 6.5 percent, from 6.1 percent. The economy has lost more than 650,000 jobs in the last three months and 1.2 million this year.

And what does the stock market do?

It goes up - because those greedy pigs like fewer jobs because that means less payroll and more corporate profits!

“The market isn’t the economy, that’s basically what’s happening here,” said Alan W. Kral, managing director at Trevor Stewart Burton & Jacobsen.

No, not by a mile. The market is simply another casino - and it seems to be betting on American workers misfortune all over again.

Is this one fucked-up system or what?