533,000. That's the total number of jobs lost in the November, you can read for yourself here. This is in conjunction with upward revisions of the September and November numbers that totaled another 70,000+ and second but less painful modest wage gains for those still employed. It's been said greed and fear are the two most powerful human emotions. Unfortunately these emotions are not created equal, with fear being by far the more powerful of the two. This fear building among the masses with every job loss and negative headline is what I believe could push us into the inescapable vicious cycle that I've talked about before. This would invariably make our current recession much much worse. I'll be blogging on deflation, which I think is the government's biggest concern regarding this cycle a little later.
