The markets are still weird, there is no common sense out there, people buying stocks are watching too much on line gaming, they are not in the real world.
Nasdaq hit an all time high, Dow and S&P are way up too.
Unemployment in the US was at 40,000,000.
Prediction for US job losses for May were for another 7.5 million, instead there was a gain of 2.5 million, a swing of 2.5 million. Canada numbers were f**ked up too, predicted was 500,000 losses, came in at a gain of 290,000. What happened, who got hired and where? How did this offset huge airline, hotel, restaurant, car dealers, cruise line layoffs, etc. ??
I'm still negative and think stock markets will get another big thud down in the next 6-12 months. I can't see how big government spending & deficits at levels unheard of ever before can buy our way out of this economic mess. And I'm still predicting our governments will spend more in the next 6-12 months on bailouts, double at least what has been committed so far.
Personal/family incomes for working people, after all this government support is spent by them, has to be causing/kicking into a very very slow recovery. At some point.
My lending experience was always 90% at the small business level, the blue collar businesses. My common sense says we are living on borrowed time, this "dip" we had can't be it. As the economy picks up again, many companies will be working at severely reduced capacity for 6 months-3 years? Many workers will not get rehired, at least on a full time basis, if at all.
I guess I am just a crazy old man in more ways than one.