Initial Jobless Claims are down again this week putting in doubt the prognostication that we’re going into the double dip recession. That would be the recession that the Republicans have been working so hard to engineer before the election. Jobless Claims are in fact down 15% from this time last year. This is of no comfort for those who have become permanently unemployed under the universal corporate policy of never hiring people who are unemployed. A permanent oblivion that workers can be cast into focuses the minds of the Neo-feudal serfs.
Gasoline prices continue fall putting cash in the hand of consumers, and retailers are hoping this will trigger a huge surge in back to school sales. There is a certain amount of pent up consumer demand, and the urge to buy stuff for the kids is usually a leading indicator of renewed consumer confidence.