Worst economy since Herbert Hoover!
It's the worst economy since Hoover!!!
Hydroshock, why do you try so hard to post evidence that the US economy is in the dumper?
5% unemployment and 4% inflation equates to stagflation?
I wonder if this author was alive at that time or is cognoscente of what this term really meant to embody?
Liz is just a piker. If you want real doom and gloom, gotta post a Paul Craig Roberts article.
It's what's calculated to bring in a Dem government once more so that the NWO can do even more to make us a third world rival.
Is this one of the libs on the "business block" on Fox's Saturday am shows?
Hey Hydro, just for fun why don't search for good news every now and then? It might do you good.
Are you as depressing to yourself as you are to the rest of us?
Inflation? Unemployment? Not here.
Where I'm at they're desperately looking for salestypes, IT techies, anyone and cannot find them. The only choice is to kill the project or outsource the IT work to India... not due to price, but due to lack of qualified people here. And they'll have to figure out something when all those salestypes age 60-65 soon retire.
I have a rental vacancy coming up. I haven't raised rent in 4 years. I put out ads with a 10% jump in rent to the next even number. It has become very clear to me that I will have to return to my 2003 rents and will not be able to raise the rent here in cornland. I checked the internet for Chicago burbs I know well. They also have an oversupply of rentals and a weak demand market.
No inflation in rents. The reason is supply and demand. Due to the lowest unemployment ever, and plentiful cheap mortgage money and poor people now able to buy their own house.... and due to the increased demand for housing from millions of immigrants (legal and illegal) the result is that there is strong demand to buy and sell housing. Thus housing prices continue upward making rich those of us who bought earlier.
But there is weak demand for rental housing. Pity us poor landlords ... maybe we should ask for subsidies "because the economy is too good."
Tuesday's price and retail sales data were further evidence that the economy is slowing. Consumer spending drives two-thirds of growth in gross domestic product, and it was so robust in the first quarter that it pushed GDP to 5.3%, the highest in more than two years. But most economists say GDP is expected to slow significantly for the second half of the year, particularly if consumer indebtedness and high energy prices combine to crimp spending.”
Unemployment at 4.6% and GDP at 5.3%. Boy was the economy bad then (June 2006) as compared to now!!!! /s