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Economic Minutia

5 August 2010 No Comment

Today, the jobless claims numbers came out.  They weren’t good.  They were higher than anticipated.  A few weeks ago, it was the opposite.  What does all this mean?  Should we even care?

There is plenty of economic minutia that is thrown around every single week for individuals engaged in the stock markets and the economy.  While I wouldn’t say that you shouldn’t watch these indicators, I think you can get lost in them and lose perspective of larger trends.

The questions we shouldn’t be concerned with are what will the jobless claims numbers look like next thursday.  Rather, we should be concerned with larger questions such as:

  • Where will the economic growth come from that will bring a new batch of jobs?
  • How will our economy become more productive?
  • How will Americans repair their balance sheets and become more financially healthy?
  • Is our economic strategy as a nation simply more debt and more government intervention?  How will the economy stand on its own eventually?  Will it ever?

The economic data week-in and week-out is great as long as you’re still focusing on questions like the ones listed above.  View the minutia in the context of the larger picture..

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