The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Good News! Unemployment Hits 9.8%

Posted on | December 3, 2010 | 11 Comments

It’s the most wonderful time of the year isn’t it? New York Times:

In a jolting surprise to the economic recovery and market expectations, the United States economy added just 39,000 jobs in November, and the unemployment rate rose to 9.8 percent, according to the Department of Labor.

Did somebody say “surprise”? Yes! Which can only mean . . . ? Yes, it’s time for the magic word!

Employers added fewer jobs than forecast in November and the unemployment rate unexpectedly increased, vindicating the Federal Reserve’s decision to pump more money into the economy to spur growth.

Everybody loves unexpected surprises this time of year, don’t they? And why are you so very merry this Christmas season? Because when I said, “Hey, maybe Glenn Beck’s got a point with this gold thing” — in May, when gold was under $1,200 an ounce — you listened.

You did listen, didn’t you?

Gold prices jumped back above $1,400 an ounce Friday to settle at a fresh record-high as the U.S. dollar slid following a surprisingly weak report on the nation’s job market.
February gold futures rose $16.90, or 1.2%, to settle at a nominal all-time high of $1,406.20 an ounce.

Yes, you are having a happy, happy holiday! And what makes it even happier? Because you know that those 1,800 soon-to-be-unemployed Democrat congressional staffers will be entering the worst U.S. job market in 30 years!

Ho, ho, ho!

UPDATE: And welcome, Instapundit readers!


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