1949

Here’s some good news for a change:

https://www.washingtonpost.com/business/2021/11/24/jobless-claims-pandemic/

1950

Yes, but have you seen the price of concert tickets?! Thanks, Biden.

1951

Seriously. The ticket is $39 and by the time I finish the order it’s up to like $80 after taxes, fees, and paying off ticketmaster.

1952

This is probably a lagging indicator, but a lot of people dropped out of the workforce with the advent of COVID, and many of them haven’t gone back.

1953
1954

Good illustration of just how dumb the market can be.

Uh… potential spoiler for some new Sex and the City show or movie, I guess?

1955

An index of rich people’s feelings.

1956

And people wonder why companies that do ad placement don’t allow their products to ever be viewed in even the slightest of negative ways. It’s because people are fucking idiots.

1957

Eh, it’s been down basically the entire year.

1958

The dumb thing isn’t that people dumped peloton’s stock…
The dumb thing is that a bunch of people probably will actually harbor negative feelings about their bike, because they saw it in a fictional TV show.

1959

Looks to me like something happened November 4 that kicked Peloton’s ass, but hard to see how it’s related to this new show, which aired its first episode yesterday.

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1960

Yeah, this was on November 4th. Quarterly earnings. They said people were returning to pre-pandemic habits and sales forecast were down a lot.

1961

Same sort of thing happened to Zoom when they revealed people were doing fewer online meetings. The market is very skittish right now and good news does very little, while the hint of bad news sends investors fleeing.

Time to invest in junk food stocks I suppose. Cheetos, anyone?

1962

They’ve been taking a pounding due to strike actions. My BIL lost his job recently as a knock-on effect from one of those strikes, at least according to the company. (I don’t know the reality he’s a good guy though, one of the Alabama refugees

1963

I thought this was an interesting story.

Some highlights:

Last month, there were 3.6 million more Americans who had left the labor force and said they didn’t want a job compared with November 2019, says Aaron Sojourner, a labor economist and professor at the University of Minnesota’s Carlson School of Management.

Older Americans, age 55 and up, accounted for whopping 90% of that increase.

“Part of it is a job quality shortage,” says Sojourner. “It’s a bit of a puzzle why employers aren’t raising wages and improving working conditions fast enough to draw people back in. They say they want to hire people — there are 11 million job openings — but they’re not creating job openings that people want.”

“I can want a 65-inch TV for $50, but it doesn’t mean there’s a TV shortage, it means I’m not willing to pay enough to get somebody to sell me a TV,” said Sojourner.

1964

I wonder how many of those 11 million job openings are in the fast food industry? I get it that people don’t want those jobs, even at $13+ an hour. They are crappy, dead-end jobs that do very little to improve your resume.

Plus, even though they have raised wages, I bet most still won’t let people work full-time and get benefits.

1965

Food and retail.

1966

Surprise at the Fed today. Clearly they’re concerned about inflation not just being a temporary issue. Speeding up the tapering of their security purchase program and signaling interest rate hikes in 2022.

https://www.investors.com/news/economy/fed-meeting-stock-market-ready-for-faster-taper-but-not-this/?src=A00220

1967

Markets seem to like the news. Instantly went from a down day to an up day.

1968

It’s clear that one of the big drivers of inflation, the supply issues related to Covid, isn’t going away anytime soon, so I’m not sure why they are just now getting around to reacting. I understand the fed not wanting to panic people by being overly aggressive, but I think it’s silly they are as far behind on raising interest rates as they are.