from July 1999, when the economy was booming and companies were complaining about how hard it was to find workers, through July of this year, when the economy was mired in the deepest and longest recession since World War II. For the decade, there was a net gain of 121,000 private sector jobs, according to the survey of employers conducted each month by the Bureau of Labor Statistics.
Brought to you by economic cycles - Hip, hip hurrah! The Recession is over - redux! Just ignore how the economy has sucked for a decade and you've been running on Visa and Mastercard all of that time.
Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...time to check out the Funnies!
We don't believe that the U.S. massive stimulus programs and money printing can solve a problem of excess debt generation that resulted from greed and living way beyond our means. If this were the answer Argentina would be one of the most prosperous countries in the world.
I should note Comstock seems to validate what midtowng wrote about the stock market rally being for suckers.
This seems to us to be a "mini bubble" of stocks reacting to an abundance of "money printing" by governments all over the world since stocks are rising worldwide
For all folks wanting universal health care or the public option, according to Business Week, the war is already over, even if legislation is passed, and guess who won? Surprise, surprise, lobbyists.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
With all of the media spin on both economic indicators as well as health care, I thought this week we'd take a little diversion from economics to look at mass psychology and it's role in creating public perception and opinion.
A BBC Adam Curtis documentary, The Century of the Self delves into this topic. Mass psychology is also the father of marketing and public relations.
The business and, increasingly, the political world uses psychological techniques to read and fulfill our desires, to make their products or speeches as pleasing as possible to us. Curtis raises the question of the intentions and roots of this fact. Where once the political process was about engaging people's rational, conscious minds, as well as facilitating their needs as a society, the documentary shows how by employing the tactics of psychoanalysis, politicians appeal to irrational, primitive impulses that have little apparent bearing on issues outside of the narrow self-interest of a consumer population.
The massive and unprecedented amount of debt being issued by the Treasury Department, and the relatively finite amount of savings in the world, has left the country vulnerable to a currency crisis. The place where evidence of this crisis might first turn up is in the treasury bond market.
That evidence might have happened in the last two weeks.
Just last week a treasury auction of 5-year bonds nearly failed.
but for the primary dealers the bid-to-cover was less than one, meaning that some of the issue would have been left on the table.
That's a fail; but for the primary dealers the issue would not have subscribed.
We might as well put on every post, Americans are flat busted!
The Federal Reserve released today the consumer credit numbers.
Consumer credit decreased at an annual rate of 5-1/4 percent in the second quarter.
Revolving credit decreased at an annual rate of 8-1/4 percent, and nonrevolving credit decreased at an annual rate of 3-1/2 percent. In June, consumer credit decreased at an annual rate of 5 percent.
Currently in Detroit, says Samuels, "I have approximately 65 to 70 bodies that are ready to be buried. Of those 65 or 70, I can tell you, are 35 or 40 where families have signed off on the bodies and they don't have the funds to bury them." It costs the state - or the county, if the state declines to help - $750 to bury an unclaimed decedent in a potter's grave in Western Wayne County.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
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