Econ, but half not this post

Date: 2010-07-07 02:59 am (UTC)
You probably have posted on this before, but what did you think of Krugman's "stock market head and shoulders = historical sign of depression" and other recent "we are fucked and fucking ourselves worse every chance we get" column(s)?

And I think I knew it at one point, but I've forgotten. When we lose jobs but the unemployment rate goes down whilst the population is increasing, is this because . . .

(1) Supposedly vast hordes of people quit looking for work (forgetting the stupidity of that method of counting, since nearly all of them still want work and would have a job if they knew where to find it)

or

(2) They quit counting people who have been unemployed so long they can't keep getting benefits (which is a really, really really stupid measure, if so)

or

(3) Both
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