Bill McBride, channeling Krugman, is reminded of Wall Street's "dirty little secret": It likes...

|By:, SA News Editor

Bill McBride, channeling Krugman, is reminded of Wall Street's "dirty little secret": It likes the unemployment rate on the high side. It "keeps wage growth down, and helps with margins and earnings - and higher unemployment also keeps the Fed on the sidelines... a slowly declining unemployment rate (even at 9%) with some job growth is considered OK."