In seven minutes the U.S. Labor Department will report on July jobs numbers in the US. The entire capitalist world is on pins and needles. If jobs went up the predicted 85,000, well then things are anemic, but we’re not looking at the abyss. Stocks will probably go up. If jobs increase the itty bitty they went up last month, OMG.
What a way to run an economy. Seven billion people depending on the chaos of the market.
The Tea Party Corporation Worshippers got their way with the debt ceiling game of chicken, and trillions will be cut from the measly benefits of working people, but lo who will buy the Ipads and the Chevys. Why are people turning away from Walmart to go to the Dollar Store. Wall Street remembered that “consumer confidence” is down, factory production is down, and housing is in the toilet. And worse stocks have been going steadily down for a week.
So yesterday they panicked. 3-4% drops in stock value worldwide. And today Japan and Europe stocks kept diving.
In seven minutes, they’ll know.