Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
... on the Market Ticker blog. Red is Fed statement. Green is quotes from the blogger.
Release Date: June 23, 2010
Information received since the Federal Open Market Committee met in April suggests that the economic recovery is proceeding and that the labor market is improving gradually.
The economy is falling off a cliff. The Federal Government has blown over $1.5 trillion a year for the last two years to try to get private parties to lever up again, but they have no more credit capacity and still have no jobs.
Household spending is increasing but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.
Housholds can't spend what they don't have, and they don't have. There has been no income growth other than government handouts. Household "wealth" has been revealed to be an empty suit, devoid of any substance, as it was simply a $100,000 VISA credit line, which has now been slashed to $100.
Business spending on equipment and software has risen significantly; however, investment in nonresidential structures continues to be weak and employers remain reluctant to add to payrolls.
Nobody in their right mind would hire anyone with the economy this crappy and the only consumer and business spending that is taking place is coming from the nipple of a government tit. Businesses are taking seller-financed OptionARM equipment deals, which will soon start bankrupting the firms that were idiotic enough to do that.
Housing starts remain at a depressed level.
New home sales printed the lowest number on record today. "Depressed"? Well, yes. As in DEPRESSION. Welcome to our use of that word. Expect it to expand.
... on the Market Ticker blog. Red is Fed statement. Green is quotes from the blogger.
Release Date: June 23, 2010
Information received since the Federal Open Market Committee met in April suggests that the economic recovery is proceeding and that the labor market is improving gradually.
The economy is falling off a cliff. The Federal Government has blown over $1.5 trillion a year for the last two years to try to get private parties to lever up again, but they have no more credit capacity and still have no jobs.
Household spending is increasing but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.
Housholds can't spend what they don't have, and they don't have. There has been no income growth other than government handouts. Household "wealth" has been revealed to be an empty suit, devoid of any substance, as it was simply a $100,000 VISA credit line, which has now been slashed to $100.
Business spending on equipment and software has risen significantly; however, investment in nonresidential structures continues to be weak and employers remain reluctant to add to payrolls.
Nobody in their right mind would hire anyone with the economy this crappy and the only consumer and business spending that is taking place is coming from the nipple of a government tit. Businesses are taking seller-financed OptionARM equipment deals, which will soon start bankrupting the firms that were idiotic enough to do that.
Housing starts remain at a depressed level.
New home sales printed the lowest number on record today. "Depressed"? Well, yes. As in DEPRESSION. Welcome to our use of that word. Expect it to expand.
What a difference two months makes. It's right back into the crapper. People continue to drop out of the job market, the housing market is back into a serious slump (deservedly so), and available/new private sector jobs are scarce.
mmmm mmmm mmmm
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
