Initial jobless claims down

The headline on money.cnn.com reads "Weekly jobless claims plummet" lets just put that one down to hyperbole. I mean a decline of 53,000 on 600,000+ base does not a plummet make. Still there is hope in this news, this might be the worst, the darkest before the light. One can only hope.

My fear is that a lot of people who lost there jobs last year and who were lucky enough to get a severance package are now starting to run out of money and this is when the real impact of the layoff really comes home to these people and in turn impacts all those around them.

In the case of places like NYC where the financial industry has shed countless jobs, a lot of these dollars were spent to sustain an incredibly expensive life in the city. When the funds are no longer there will the city survive or will it go back to the Dinkins era? remember the rotten apple back then? Piss smell everywhere, gangsters, potholes, grime, graffiti and filth all over. This is a real possibility.