Apparently, the market actually thinks a 9.6% unemployment rate is just swell, sending the S&P500 up 3.5% for the week. This is a major move up for a 5 day period, and a reversal in a recent market downturn from prior weeks. While the unemployment numbers were better than “expected”, they’re still not rosy by any means. With the birth/death rate and other adjustments, it may be quarters or even years before we get the headline rate back down below 9%, let alone, the longer run rates of 5-6% Americans have grown so used to. I’ll take it though, I’m 100% long equities in all my retirement accounts and while I’m hedged somewhat in my trading account, I’m still making money in an up market – just surprised.
Market stuff aside, there were some great reads around the web this week, and in case you missed some articles I wrote in the recent past, I’ve included them for your perusal at the bottom. Check out the best of the web from the past 2 weeks:
Best of the Web:
Lazy Man and Money – Blogger Takes on Bullshit MLM Company and Gets Threatened and Blackmailed (check this out and support Lazy Man’s Right to Free Speech)
Financial Highway – 10 Tips to Curb Impulse Spending
TaxVox – HomeBuyer Tax Credit – AGAIN???
The Mish – Jobs Numbers: A Look Beneath the Surface
The Yakezie.com – Check it out!
Financial Sumarai – How To Get Girls If You Live At Home With Mom & Dad
Free From Broke – Blogging Essentials
Wealth Pilgrim – IRA FAQ
Aspiring Millionaire – Yakezie Carnival
at Darwin’s Money:
- This Nasty-Gram Got Me a New $2800 Fridge ASAP
- Want to Be Your Own Boss? It Stinks – Here’s Why
- 5 Ways Obama is Wrecking the US Economy
- Beware: Realtors Do Better for Themselves than Their Clients
- 20 Insanely Hot ETFs in a Down Stock Market
- New Alerian MLP ETF: High Yield, Beats the Market and No Messy Tax Forms
- Collar Fund Review: Do Options Collars Fit The Bill?
at Darwin’s Finance:
- Is the McMansion Dead?
- Tutoring Gone Wild in America
- Who Would Make the Best Use of $Billions – Bill Gates or US Govt?
at Complex Search: