02 Apr 2009

Jobless Claims "Unexpectedly" Jump

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Whoa, I don’t get it? Just because the government nationalizes the banks and car companies, flushes a few trillion down the toilet, and promises to raise taxes and take over the energy and health care sectors… All of that’s somehow supposed to adversely affect the productivity of labor? Apparently. It’s just so strange, because if there was one thing I thought all free market economists could agree on, it was that printing new money brought down unemployment.*

I am tempted to say, “This ‘unexpected’ jump should be no surprise to Free Advice readers,” but such cherry-picking is unbecoming of a financial blogger.

* A warning to the newcomer: I am being sarcastic. I am poking fun at many colleagues who say, “Don’t get me wrong, there will be inflation down the road, but the recession is over since Bernanke started pumping in money.”

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