Re: Employment - not good

Allan Smith wrote:
nick,

Then you might be interested in this.

http://www.reuters.com/article/companyNews/idUSN0622178520080406

Allan


Indeed, I found the article interesting. To my mind, the article supports what Dan and I have been saying. There is an economic slowdown but there has not been such a slowdown as to say we are in a recession. Time will tell if that were to happen. As of now, economists are saying two things; we are in a recession or we are heading towards a recession. If they don't know one way or another, why would I think economic novices know what's happening.

As of now, the tossed coin is in the air. We have yet to know how it will land. To my mind, if congress would tell environmentalists to kiss-off and approve the search for energy, just the announcement alone may send the market soaring and stimulate spending, which in turn opens the job market. After all, the people wanted change and elected a democrat congress who has still done nothing much to stimulate economic conditions.

It has been acknowledged that unemployment numbers have risen, especially in Michigan. Recently, ATA airlines filed for bankruptcy and shut down operations throughout the country placing thousands more out of work. Fuel costs and service costs have risen greatly. Attempts are being made to blame the decline in auto sales and the many personal as well as business bankruptcies on the administration, when in fact the administration is trying to bolster the economy. Now may be a time to ponder, whatever happened to the Iraqi oil stupid Euros have claimed the US invaded Iraq to take for its own use. Oh well, why pick on Euro's when we have our own home grown idiots who also lie (perhaps intentionally) but won't admit they do.


As for the Reuters article:

"..... people are going to be looking more at the consumer than the housing market," said Paul Nolte, director of investments at Hinsdale Associates, in Hinsdale, Illinois. "People want to look and see if the consumer is really pulling back. If they do slow their spending, that will have a lasting impact on the economy."

"Even though the employment report was lousy, investors' minds were already wrapped in the fact that we're in the early stages of recession," said Fred Dickson, market strategist and director of retail research at D.A. Davidson & Co. in Lake Oswego, Oregon. "The attention's turning towards earnings and everyone will be holding their breath because it's one more dark cloud for investors to deal with."

"If the equity markets are able to hold financials at an even keel, that would be seen as a positive ahead of earnings."

Such statements serve to show economists have not yet determined a recession is just around the corner. It may well be, Allan, but that's not what's being debated. What's being debated is the saying the recession is here and now, when it isn't. High unemployment numbers are not the result of this administration's economic policies. It's the people's spending habits and the need for big business to increase profits that have brought about the countries economic slowdown. The halting of the search for energy resources is the result of both a Democrat and Republican congress who appears to be afraid of the voting power of environmental organizations, which brings us right back to the apparent indifference of the people.

Economists are looking at housing starts, general construction, unemployment numbers, quarterly reports, etc.. I would venture to say, if this shitty congress would announce the lifting of the ban for oil explorations, seemingly overnight, the nation would be lifted out of its doldrums and recessionary talk would soon disappear. Just by opening potential reserves and starting the search for energy the dollar value will rise as the price of oil starts to come down, thereby increasing the amount of money available for discretionary spending. Having done that, the job market will again be open and another near miss recession will just go down in history.

BTW, in closing I'll add, the US gives too much money away to other nations. I would like to see a congress (either democrat or republican) who will greatly reduce the US's foreign spending habits. It's time for this nation to pour money into developing clean energy resources and since the investments will be huge, it it's time for the US government to support and invest in US enterprise. We can recycle waste but we need to create safe clean reliable energy.








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