November 02, 2009
Wouldn't This Be Good News in Zandiland?
In the news:
If you're looking for good news on unemployment, Moodys.com chief economist Mark Zandi doesn't have it.
Zandi told CBS' "The Early Show" Monday that the nation's near 10 percent unemployment rate will "stay there through this time next year."
However, the economist said, "we're heading in the right direction."
I can't help but wonder if Zandi considers unemployment approaching 10% to be the "heading in the right direction" since he said of unemployment benefits, "The bang for the buck is very high." By that logic, if we hit 15% unemployment we'll be rich, filthy rich.
Okay, enough fun. The right direction bit probably refers to news such as this.
Posted by E. Frank Stephenson at 11:50 PM in
Economics