We are LOSING OVER 600K jobs per week!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
It appears many of you think my projections for OVER 30% unemployment is outlandish where I view them as convervative based on the current data and recent press releases from many important corporations and municipalities about future job losses.
My Favorite Foolish Fool TMF Deej and I had a fun exchange in the previous blog......
Let's get a key ground rule down so we are all using the same data....Alstrynomics uses NOT SEASONALLY adjusted U6 Department of Labor stats for his projections.
In a something over a year, this number has about doubled to 16.2%.
Based on current rate of jobs being lost......OVER 600K PER WEEK......it is simply my projection that reported NOT seasonally adjusted U6 unemployment will exceed 30% by the end of the year.
If weekly job losses slow, or the government begins a massive hiring program.....then adjustments will be made to my projections. At this point, based simply on the current data and current press releases about future job cuts......my 30% projections seems conservative, (especially once you factor birth/death adjustments)......despite what every other so called expert puff.
It is not that I wish these numbers on the ecnonomy, these are the numbers that are presented to Alstry..... and applying Alstrynomics.....these the are conclusions and projections made without emotion or intent to deceive.
I truly wish someone could present FACTS to refute the above projections.