Tag Archives: Shadowstats
Did we already collapse?
A couple of days ago, I posted about the convergence of economic bellwethers that pointed to economic collapse in the near future.I have more detail on the unemployment situation. Two of my go-to sources have indicated that the BLS report on employment last month are ‘problematic’. As you may be aware, the ‘headline’ unemployment figure […]
93 million: an update
Since I seem to be in update mode, I thought I’d share this. I’ll try to keep things simple. Back in May I wrote that a count of adults unemployed or underemployed in the current economy indicated that there were some 93 million working age Americans who weren’t in the workforce in any reasonable way […]
Cheap gas and economic collapse
I was hoping to keep this short when I started writing it back in early December, but (to quote Ralph Waldo Emerson), “things are in the saddle and ride mankind.” Oil prices have fallen off a cliff in recent weeks, declining some 45%. It has been a good time for motorists–and for the peak […]
Commemorate the CCC and WPA!
Wikipedia I write this on the morning that a recently-released Gallup poll revealed unemployment to be the number one concern of Americans, with almost three times as many people considering it to be a bigger problem than the deficit (23% versus 8%). For those joining us late, I’ve been posting about the subject of unemployment […]
Huzzah! Unemployment fell to 6.7% (NOT)
Per the Bureau of Labor Statistics, we find that the US added a paltry 74,000 jobs in December (I’m assuming that’s seasonally adjusted and doesn’t include people hired for holiday retail). And yet despite that, the Unemployment rate fell to 6.7%. Huzzah!Praise be to Obama! Praise be to the fiscally responsible Republicans who refused to […]
Unemployment drags on
A pair of articles recently in the Huffington Post about unemployment. The first was about Ben Bernanke’s Federal Reserve, and its prediction that unemployment will stay above 6.5% for the next two years at least. The Fed thus sees no good reason to raise interest rates. Parenthetically, the lousy returns on savings and CD’s are […]