Alstrynomics Straight Talk
Philly Fed: Manufacturing "contracted less severely" this Month
Alstrynomics: Manufacturing continuing to slow. Although not slowing as much as last month, we are at such a low level that if we slow anymore......there will be practically no manufacturing left in America.
Mainstream Headline: The Number of Jobless Claims Slow
Alstrynomics: OVER 600,000 NEW people filed for unemployment claims this week. That is 600,000 MORE unemployed people than we had last week. Now we have over 6 million people collecting unemployment benefits and millions more that have been unemployed for so long that they no longer qualify for benefits. If we keeping termininating 600,000 people from their jobs every week for the rest of the year......30,000,000 Americans will lose their jobs.
Mainstream Headline: Wells Fargo reports $3 Billion in Profits
Alstrynomics: According to a respected analyst, Wells Fargo likely has over $100 Billion stress related assets to write down....but because the government allows Wells Fargo and a number of other financial institution to lie about the quality loan assets, Wells reported a profit instead of Billons in losses.