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Oil is up 2% today alone. Expect $3.50-$4.00/gal for gas by summer. That does not bode well for economic recovery. It does however help push up oil stocks and the DJIA.
I live in Las Vegas which depends totally on disposable income. Our economy is not improving at all, in fact if anything we are still losing more jobs. The reason the numbers don't look so bad is two fold here: first many people who were on unemployment lost their homes and have left and second many people who are still here and unemployed have used up their benefits and now no longer count towards the unemployment numbers. I have heard that real unemployment here in the Vegas valley is at 20 percent at least if not higher.
While there are many indicators that some parts of our economy is beginning to function again, I would be highly surprised to see any true recovery this year. In fact I would not be surprised to see, as one poster already mentioned, permanent unemployment right at the 10 percent mark.
While we are not in the doom and gloom days at the moment, one little thing could either stop the recover or reverse it all together.
Are we getting the 20% that moved to china when GW was around back?
"Trade with China will not only extend our nation's unprecedented economic growth, it offers us a chance to help shape the future of the world's most prosperous nation and to reaffirm our own global leadership for peace and prosperity."
Oil is up 2% today alone. Expect $3.50-$4.00/gal for gas by summer. That does not bode well for economic recovery. It does however help push up oil stocks and the DJIA.
Higher gas prices will or should kill the incipient recovery.
That is the effect of printing a bunch of money. Now put the money in the consumer sector. (Moral hazard) And you wound get fast growth in the economy. They are trying to get money to be loaned out again. Well the tide has turned on the debt bubble. The only thing pumping it up is the deficit spending by our government. If you take that away then the total debt is collapsing.
"Trade with China will not only extend our nation's unprecedented economic growth, it offers us a chance to help shape the future of the world's most prosperous nation and to reaffirm our own global leadership for peace and prosperity."
Higher gas prices will or should kill the incipient recovery.
That is the effect of printing a bunch of money. Now put the money in the consumer sector. (Moral hazard) And you wound get fast growth in the economy. They are trying to get money to be loaned out again. Well the tide has turned on the debt bubble. The only thing pumping it up is the deficit spending by our government. If you take that away then the total debt is collapsing.
Following up Fridays positive job numbers, and the continuing pick up in factory orders and retail sales, todays service sector report shows a surge in that sector as well. This summer things are going to really start to pick up.
The long nightmare is coming to an end.
The U.S. services sector grew in March at its fastest pace in nearly four years, according to an industry report released on Monday. The ISM non-manufacturing index rose to 55.4 in March. The Institute for Supply Management said its services index jumped to 55.4, its strongest reading since May 2006, from 53.0 in February.
Do you believe these two have no bearing on recovery? Employment Situation Summary
In March, the number of unemployed persons was little changed at 15.0 million,
and the unemployment rate remained at 9.7 percent.
So... what do people have against the service sector exactly?
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