Relentless Panic

clipped from pajamasmedia.com Finally, people can position themselves for the time when things touch bottom. Spengler says that despite the white coat photo-ops and outward confidence, there’s a sense of foreboding in the councils of power. “Panic is starting to take hold at the Obama White House over the relentless deterioration of the job market. US jobs in September declined by about 263,000 jobs, worse than the 175,000 drop expected by Wall Street economists. To the 15.1 million on the official unemployment count, add 9.2 million “involuntary part-time workers” and 2.2 million who were dropped from the tally because they had not sought work in the past month, and the unemployment rate would rise to 17.1 million.”

They meant to say 17.1%.