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Thom, you have to read past the front page--the companies that are crashing and burning make the mainstream news, not the ones that are rebounding well.
As for your core point about employment, I'll let history provide the proof. People spend based on how they feel, not based on what they actually have. I understand that 5.8% vs 3.8% unemployment is no fun for that 2%, but the impact on the total demand in the economy is minor compared to how the rest of the people feel about their prospects.
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