Saturday, January 11, 2014
The contrarian indicator of all contrarian indicators is out. More economists see a "glass half full," so I guess they didn't get the memo that less than 43 percent of working-age Americans report a true full-time job, continuing a downward trend of recent years. Only 63 percent of us have work of any kind, the lowest percentage ever recorded, and this number has shrunk rather steadily the past twelve years. So either a huge portion of working-age Americans have happily removed themselves from the world of employment, or these optimistic economists are looking at their own stock portfolios much more closely than the lives of their fellow Americans.