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Saturday, November 07, 2009

Economic Recovery is Here at Last!

The CEO of NuCor Steel was on Squawk Box this morning. He said actual unemployment is 13-15% if you calculate it the way they did prior to the 80s when they changed it for obvious political reasons. The radio guy that tells you employment lags behind economic recovery hasn't looked at a graph. There is little-to-no statistical correlation between the stock marketand employment because a) public companies employ a fraction of people and b) public companies and private company employment aren't correlated. Experts have no idea what's going to happen. Our prior experience does not apply to the current situation. Have a nice day.

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