A jobless recovery is when all the bankers and wallstreet dudes make money, and your blue collar ass still can’t find a job. So you can’t find a job, can’t pay your mortgage, and you get your poor ass get foreclosed on.
Don’t believe me? Look at the current market condition:
1) Dow is back up to 10K
2) Goldman Sachs doing well, paying more bonuses
3) Jobless claim up last week, more expected
4) Foreclosure rate up 25% from last year
5) No free health insurance for you, but you will be required to have health insurance
I’ll be first to admit that I know very little about the economy and politics, but it doesn’t take a genius to see that this is not cool.