1987
Posted on 03/04/2013 11:14:06 AM PST by blam
Agreed.
The list contains 2 things that are worrisome, #1 insider buying down and #2 personal income down.
#3 Detroit, being rescued by the it's state is not a big deal. Katrina wiped out New Orleans and it barely made a dent.
8 items are about europe. #4Italian unemployment, #5 Italian youth unemployment, #6 Italian Debt, #7 Greek Unemployment, #8 Greek youth unemployment, #9 Portugal austerity protests, #6 European unemployment & #10 Eurpoean bank deposits are down.
The last item isn't even a stat. It's merely China saying they are prepared for a currency war. Of course they are, they've been waging one for the last 3 or 4 decades. China is making noices because they are afraid they are going to get their comeupance.
I feel the same way. There is so much spinning no one knows what to do.
In order to suck all the goody out of the wealth and savings of the citizens of the country, this false “recovery” or runup will convince a lot of people to lose a lot of money when it crashes at the end of it.
I am sure that there will be some ugly downward fluctuations and a continue collapse process, but when? A debt regime with low real, domestic production (not only American “based”) can continue, as long as enough bond investors are duped.
Somebody has to be right and somebody has to be wrong.
Personally, I'm gearing up for a major collapse.
#2 could be the dead cat bounce of accelerated income into CY 2012 for tax purposes. People who have great control over their earnings streams took their January earnings into December. Later, things will smooth out.
So, even #2 is suspect.
#1; well, that is a single variable that is disconcerting.
I have a different reason for massive pessimism:
Q: What public policy anywhere in the world is likely to succeed in helping business grow?
A: Nothing, nowhere.
We have every single act by every single government for over 5 years being 180 degrees the wrong direction. Until they stop doing harm and start doing useful things, economies will continue sub-par performance.
Michael Snyder is an idiot. His article is birdcage liner.
Personal income went down because companies did special distributions in December to dodge the new 2013 tax rates.
Europe’s troubles don’t mean a collapse for the U.S., either...just the opposite: European money runs to safe U.S. banks.
Good grief. There should be an IQ test that bars idiots like Snyder from having internet access.
1987
Raising import tariffs would help the American economy at the expense of China and other third world countries. But nobody is talking about that. Instead they still want create more free trade zones with countries that have much lower wages than us and continue the drain of American jobs.
At the end of the day, I’m going to make the following assumptions, since you’re a freeper: You are productive, you know how to work; you don’t cause serious problems for others; you have common sense.
You’ll see us and we’ll see you. Don’t sweat the small stuff.
However, the half who aren’t worried should be.
Us? Like water off a ducks back. Hang tough.
Which polices? We don't even agree on FR which policies are to blame. The likelihood that the people will get the blame right for a collapse is very very low.
Heck people blamed the Smoot-Hawley tarriff for the great depression, when the depression was already well underway before the tariffs were passed.
Even the Tea Party can't get it right. They think if they just cut entitlements all will be well. They don't have a clue about what is wrong with the economy or how to fix it.
The labor force counts all the people of working age - from 16 to 65 years of age who are able bodied and able to work. Then it tallies how many of them actually work.
This gives us a much clearer picture of what is actually happening in the job market.
The 'unemployment rate' numbers have been so manipulated over the years so as to be virtually meaningless. They are political numbers that have been 'massaged' and manipulated so that they tell us nothing about what is actually happening in the job market.
Politicians are more adept at hiding problems than solving them. Like how they 'solved' bread lines. They didn't actually eliminate the bread line, they only took it off the sidewalk. The new bread line is the number of people on "FOOD STAMPS", and it's nearly 50 million souls long.
You can clearly see that the labor force increased from 146,842,000 to 154,063,000 during Bush's last four years.
Under GW Bush, the labor force expanded by nearly 8 million in his last four years. Since the Labor Force Participation rate stayed steady at about 66%, that means that 66% of those new job market entrants found jobs - roughly 5.5 million of them.
Obama started with a labor force of 154,063,000, of whom 66% were working or 101,681,580 jobs. After four years, the economy has only 98,849,290 or nearly 3 million less jobs than when he won the election.
Had he maintained the same Labor Force Participation Rate that Bush did over his last four years, there would be 102,731,640 - or roughly some 4 million more jobs than there are today.
Yeah! If we raise import tariffs (RAISE TAXES!!) that will help Uncle Samuel, and no other country would do the same to us on our exports, so it’s totally a win.
< / trade war >
Those numbers don't lie.
1/10th oz American Gold Eagles are very easy to convert into spendable cash.
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