“Now the policy cupboard is bare, and “we can see what the emperor looks like disrobed. It’s not a pretty picture.”The economy, Dave goes on, is in a very fragile state. Which isn’t all that surprising since it still bears the scars of the credit...
Main Street Depression
We can determine precisely what the Birth-Death contribution to the "jobs added" over the past year has been. The result: 606K, or 52% of the NSA jobs added (and 58% of the actual, seasonally adjusted jobs).
Does anyone seriously believe this rally is based on fundamental strengths in the U.S. and global economy? Uh, sure. Let's be honest, the whole thing reeks of massive goosing by proxies with the goal being perception management.
Transfer payments include welfare (financial aid), social security, and other subsidies by the government to certain businesses (i.e., ethanol). I was amazed to see the above chart. Government transfers now make up 22% of household income...
This chart needs no commentary. At 64.1%, the Labor Force Paritipcation rate just dropped to a fresh 25 year low:
We're confident that we have a new winner. It shows the average duration of unemployment, and it's skyrocketing without any hint of slowing down.
After that miserable jobs report, the pace of the recovery looks as horrible as ever.
This looks like we're just barely positive on employment trends. But that's misleading, and misleading the public is what the media is all about this morning, as they're saying that we had a positive number. We most-emphatically did not.
Absolute disaster. Total jobs per the establishment survey: +18K on expectations of 105K. The household survey was down by 445K from 139,779 to 139,334. Birth death adjustment + 131,000.
Minnesota lost its top credit rating on Thursday as Fitch Ratings downgraded the state's general obligation bonds one notch to AA-plus, citing the budget impasse. Minnesota's state government has been shut since last Friday, when Democratic Govern
First introduced to the Android Market on Wednesday, the Bitcoin app for Android turns your smartphone into a wallet for Bitcoins, a form of alternative, decentralized currency that has been circulating the web for a few years.
It isn’t often that you hear about a stolen laptop being returned to its rightful owner — but still, that’s not really news. Toss in a police raid in Argentina and the recovery of about a $1 million in counterfeit U.S. bills — now you have a story.
Host:
Ernest Hancock
Dave - "Escape Harassment" is a Volunteer Group of Researchers and Educators. / Drew Phillips - Dime Cards at Porcfest / whatisthiscoinworth.info / Sheriff Richard Mack - Grant County, Oregon: The Solution To Tyranny
More and more of the world economy is crumbling and America doesn’t seem too far behind.
Host:
Ernest Hancock
Dave - "Escape Harassment" is a Volunteer Group of Researchers and Educators. / Drew Phillips - Dime Cards at Porcfest / whatisthiscoinworth.info / Sheriff Richard Mack - Grant County, Oregon: The Solution To Tyranny
Jun 23 2011 MSNBC The Dylan Ratigan Show -- Former CBO director David Stockman and panel talks about the Federals Reserve's acknowledgment of disappointing growth, higher inflation and a weakening labor market.
zz right now about inflation but also talk of renewed stagnation with the Fed’s QE2 program having ended in June. Could renewed stagnation trigger enough deflation to counter inflation? Or might we get the worst of both worlds—stagflation—as in the 1
"The problem is at the consumer level, confidence is low and that is because, as you showed, showed we had underemployment with one out of every six Americans.
The banking system and fractional reserve explained.
A nice, sanely paced sitdown interview with the Conway Daily Sun from Dr. Paul's holiday weekend visit to New Hampshire. VIDEO
CNN host Ali Velshi gave Republican presidential candidate Rick Santorum some math advice Tuesday after the former Pennsylvania senator claimed President Barack Obama’s stimulus had resulted in 30 million fewer jobs.
If the Great Depression teaches us anything, it is that government spending does not create wealth and does not create economic growth. Both Presidents Herbert Hoover and Franklin Roosevelt followed the recommendation of John Maynard Keynes, a very
America celebrates Independence Day with many flags and no reflection. We refer to the day as July 4th rather than Independence Day, and rightfully so.
To patch a $4 billion budget hole, 1,600 Florida state government employees were laid off, and another 562,000 began paying into their pension plans for the first time in 37 years. The 1,600 are a very small fraction of the state's overall government
The Detroit Three carmakers captured more than half the sales in the US market for the first time since September 2008 amid supply shortages caused by the Japanese quake, industry data showed Friday.
My trip to Porcfest2011
Expecting insight about the economy from Barack Obama is like hoping to learn about Paul Revere from Sarah Palin.
As the deadline to raise the debt ceiling draws closer, many are now wondering if Barack Obama will try to go around Congress if a deal is not reached by August 2nd.
Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress...
