Today's Economic News: the Good, the Bad, and the Ugly

The good: In keeping with a recent semi-trend of semi-good news, GE and Citibank didn't do as horribly as expected in their latest earnings reports.

The bad: Paul Krugman, like Flavor Flav, says don't believe the hype, arguing that the news is still consistently bad, the good reports smell funny, and that even after the recovery begins, unemployment will continue to rise. Locally, that rise continued as Boeing handed out 300 pink slips this morning, with many more expected to come.

The ugly: Differentiating the bad--or even the supposedly good--from the ugly is kinda hard these days, but today's ugly award goes to this P-I account of the anxiety of college seniors about to enter the job market. The recent UW job fair sported a line that, according to the story, went all the way to the quad. Here's hoping the writer confused the lawn in front of the student union building for the quad, because the quad is a good 100 yards or so from the student union building. College students definitely aren't the worst-off in the recession, but long lines like that are depressing regardless, like a hint of a bread line to come. And recent grads are telling this year's seniors, "stay in school."

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