Thursday, March 05, 2009

On Unemployment Rate's Eve

Today I bet 25 cents that the national unemployment rate -- announced tomorrow at 8:30 am -- will hit 8 percent and another 25 cents that the month's job loss will near 700,000. I wrote an imaginary lede for such a story and then played with headlines starting with P until someone called out "Peak Reached." We all laughed: we won't know the peak until long after this recession depression.

Are we at the end of the United States' ascendancy, as many people abroad think? Will the next power be the European Union, which as a nonpower will transcend power?

Every moment feels like a crisis to those who live it, as we do not know the outcome of what we are undergoing. What we know seems static and necessarily the state of things. Did an American slave in 1840 guess at a Mr. Lincoln drawing up the Emancipation Declaration? Who during the Cold War expected the Soviet Union to dissolve without a shot fired?

How odd that we only know the meaning of what we are experiencing long after it has happened, long after our power to change events has faded. Who knows? Maybe the rate will go down and it is a recession, after all.

5 comments:

Joan said...

I doubt the EU will be; I am more concerned about China, India and the Islamic nations.

Cecilieaux said...

Not toworry. There's a whole blog post there.

Hendaque said...

Hey! You were right and then some at 8.1%. You got your $.25 and a cup of coffee. But do I hear some optimism at the end of the blog? How uncharacteristic. Is it because all must think positively or we will never get out of this situation?

Anne said...

When I read this blog on Thursday I, too, thought the finale unusual...and so satisfying! Cecilieaux, are you feeling spring in your soul?

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Woeful imaginations by folks such as that China & the rest of the world will call in their debts...but “there will be war first" are doomsday.

I'd rather not put my stock in Igor Panarin's schadenfreudic prediction, at all. Why should I buy into a belief from an entity from which nothing good ever came?

I recently went through a bout in which I happily would have had a mountain fall on me. Even though I did not know the outcome I had to cling like crazy to the trio of the modern three graces (plus a few other things like restructuring my own life).

I have do the same and be optimistic that within this country's administration and in conjunction with global nations a wonderful (r)evolution is going on.

On the other hand, no matter what is going on terribly around us, some people will never learn… my young nephew’s best buddy bummed a ride with another 16 yr old in her personal, brand new Hummer…and it hit a tree. Where were her parents’ brains?

I have to have confidence in a higher power, even if we do go through an all-out depression.

Anne

Anne said...

It is an irony, though, "Obama: Crisis is time of `great opportunity'" that we rely on Chinese wisdom.