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Trading Now

Friday, September 4, 2009

Unemployment hits 9.7%

-216,000 for August less than forecast but still not very positive.
July revised up to 276,000
9.7% highest since 1982
A soft economy expected for some time

Special note: David Rosenberg is on Bloomberg Surveillance. Interesting stuff.
He is saying fed balance sheet of $2T and no money out into the system with no consumer spending and unemployment rising is very troubling.

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