A bad data series shows bad data and a very big tech company wants to buy a mediocre one. On to the weekend...
- We're not so sure about the third word in this Bloomberg story ("The U.S. unexpectedly lost jobs for the first time in more than four years"), but the fact remains: This morning's BLS data weren't pretty.
- And ohbytheway: The benchmark revision for 2007 employment data suggests that the BLS overstated job creation by more than 14% in 2007. Barry Ritholtz has the story. The bottom line of the current employment picture is that it's anemic at best.
- Calculated Risk has been on this theme for a few months now: The growing cultural acceptance of simply walking away from one's home. On this theme, Barry noted a telling development on the web earlier this week.
- Via Yves Smith, yet more evidence that the U.S. needs some serious rebuilding of household balance sheets.
- We recommend the WSJ's Real Time Economics today, in particular "One Weird Employment Report" and "ISM Indicates Perplexingly Strong GDP Growth."
