Replies

Articles with ominous foreboding predictions seem popular these days on FR. 0bama won, so hunker down. But, articles of this type selectively quoting statistics and then predicting doom — I call bul1$4i7. If the economy were lurching so close to disaster, the stock market averages would have already reacted in a strong negative direction. For those who did not take economics class in college, I will tell you early on you learn about leading and lagging indicators — labor figures are by the nature of how they are collected are lagging. Not a peep or a mention of the expansion of oil and gas industry in the U.S. and the falling price of domestic energy used by heavy industry. Domestic energy for industry is at multi-decade lows as is the cost of financing the oil and gas industry build out. The economy of 2025 will be unrecognizable from what we see today. The overspending by various levels of government is only overspending for a $14+T economy, but sustainable for a $20+T economy. Look at the empirical evidence in your own lives before going woe is we every time you read articles like the one above.

Let me see

I have a friend who is living in a garage.

My brother can not afford to fix his car a $250 because his hour have been cut way back.

My other brother has had his work hours reduced as well.

I have a cousin who can’t find work and I hired him so he can pay his rent this month.

And you say look around as see that this article is not telling the truth, looks real here.

"falling price of domestic energy used by heavy industry"

When heavy industry has so dramatically decreased, why be surprised if the volume of domestic energy used by that industry has also dramatically decreased?

“articles of this type selectively quoting statistics”

Where is the author using selective statistics? He has simply looked at the actual numbers that the BLS has published and that are ignored by the main stream media. That is the point of the article"actual unemployment numbers are not being reported". And please save your, economics 101 lessons. Significant unemployment, means lower GDP. One more quarter of lower GDP and we are officially in a recession!