Originally Posted by Donna
The Dow closed today over the 14,000 mark, a major milestone, especially with the unemployment figures still not good....
Right! I've long since concluded that the market doesn't really track with the unemployment numbers (even though a lot of pundits are attributing today's rally to the jobs numbers).
Let's face it: it is the job of the "job creators" to create as few jobs as possible. That's not cynical; it's capitalism. The more employers learned from the hard times just past about computer power, outsourcing, robotics, using bankruptcy to abrogate contracts, and just plain doing more with less, the better it is for stockholders and the worse it is for the unemployed. If anything, the relationship between the numbers over time might well be inverse.
Even worse for the chronically unemployed, many of their skills are now obsolete.
There is a big-time difference between this recovery and the ones before. I feel sorry for those caught in the trap. It's unfortunate but true: it's not the job of capitalism to be charitable.