847,000 Americans Fell Victim To ‘Meritocracy’ Last Week

Good news! "Only" 847,000 Americans filed for unemployment benefits last week. This is yet another week when market participants (and pundits who used to be market participants) get to cite an objectively horrendous jobless claims print as a positive development. There is, of course, nothing "good" about initial claims printing 847,000. Outside of the pandemic context, that would surely be a misprint. And yet, so accustomed to this situation are we, that figures like that count as "beats" when

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One thought on “847,000 Americans Fell Victim To ‘Meritocracy’ Last Week”

It’s about time the Government in DC started focusing on and being held accountable for basic social economic measures like the ‘blue line’ in the chart above. Maybe it seems like they are, but look at their public remarks and simple measures are quickly lost in a sea of obfuscation, finger pointing and running for cover. Mainstream media is complicit as they appear eager to let the pols control the dialogue. Now I’m going to spit in the wind and see how that works.