July 31, 2009
– Comments (9)
Looks more like roots forming than shoots.......
MORE BS HEADLINES......
Psychology Key to Recovery
Psychology has nothing to do with a recovery....money does!!!
When people have no jobs....they have no money.
When cities have no tax receipts and high debt...they have no money.
His graph needs to be updated. And notice how the market crashed when GDP crashed? And notice how the market has rallied as that GDP graph bar has gone up, once updated (use a mental image of going up to -1)? At least we are now talking about the stuff that makes the market's really move, namely GDP.
Get ready for millions more layoffs this Fall as America continues shutting down....pretty soon, if this continues, there will not be many people in America left with a job.
The Post Office is considering closing more than 650 facilities nationwide, though officials told the Washington Post the number is expected to be smaller.
Officials are also considering other cost-cutting measures including reducing hours of operation and removing the blue mailboxes from some locations.
It is tough to revive the GDP when money is running out and the Zombulator is slashing and cutting.
The Zombulator NEVER rests....
By a 4-3 vote, the Detroit City Council approved on Tuesday a 10% pay cut for nonunion city employees proposed by Mayor Dave Bing. "That's just a step in the process," Bing said afterward, adding he was pleased with the vote.
Just a few more steps in the process and pretty soon people will be paying ot work.
Well unfortunately there is little clarity for unemployment prognostication except for working off recession cycle experiences from the past. From just a historical perspective expectations are that unemployment will peak then start to decline early mid 2010. Now if it doesn't, then re-evaluations need to be made, which could make Roubini's concern of a potential double dip a reality, but we have at least 6 months to go before we will have a better picture. So either 2010 could be a repeat of last year, or could be a great year.
Another five bite the dust.
What is so significant about these bank closings is that there is no geographical concentration. We are seeing banks in trouble in every geographical region in the country.
This is consistent with my view that the nation is headed on a systemwide Zombulation based on current policies.
What you are seeing is what I have stated elsewhere, the economy, US and the world, absorbing all the economic growth it created off the excesses built off the "debt" bubble. How far and how longer it must contract time will tell, but "zombulation" is not the endgame.
Comments (3) go here for a good discussion of GDP. I didn't use YOY