The economy in four acts

The economy is beyond the means of mortal people to understand, which doesn’t prevent me from trying.

Let’s take a look, for example, of this morning’s economic reporting, in the order I consumed. it.

Act 1: I heard this on Marketplace last evening….

Right now about 75 percent of companies have reported, and we’re on pace to have record earnings. You know, that beats 2007, when the earnings were all phony banking profits.

Act 2: – Unemployment dips in sign of improved job market

The number of people seeking unemployment benefits dipped last week, a sign the job market may be improving slowly.

Sweet.

Act 3: Target reported its earnings this morning. Phil Picardi reported on them as I drove in this monring…

Minneapolis-based Target says a key sales figure rose more than 4 percent last month as shoppers bought groceries and health and beauty products. Target says overall sales for the four-week period climbed 6 percent from the same quarter last year to 4-point-8 billion dollars.

Six percent? That’s great, right?

Over to you, Wall Street. Bring it on home!

Act 4:

Ruh roh.