They say the unemployment report is a lagging indicator...Try telling that to the one who is unemployed...I would guess that they would tell you that is the leading indicator for their financial problems right now.
Don't get me wrong, I understand what they mean by "lagging indicator" but this latest report tells me a lot, it confirms a lot too. One thing I cant help but think about is the unemployment benefits extension plan as part of the American Recovery and Reinvestment Act (ARRA) that was signed by President Obama back in February. Are our unemployment issues, as bad as they seem to be right now, really a whole lot worse? There are a lot of people that are struggling right now, family, friends and close acquaintances. Some have made bad decisions, some have put too much faith in others (people they thought they could trust.) Most are struggling right now as a result of bad decisions made by a very small percentage of our population, very small group of individuals.
What will spark the turn around? (comment here)
In my opinion...You have to make money in order to spend it. And the only way you can make money is buy working, using your talents to create something of value that people will want to use and share. Unless your the Federal Reserve, why then you can really just "make" money.
My 2 cents for what it is worth...Stay protected, use common sense, ask a lot of questions and most of all be honest with each other and yourself.
Thanks for reading, Coach Nuge
As for my current positions due to the short trading week, I am holding and will be looking for adjustment opportunities next week.
Stay tuned.
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