Our Older Posts
- 5 Deeply Obnoxious Things We Learned About Donald Trump This Week @alternet alternet.org/election-2016/…@CliffordF2 1 day ago
- iDrop News is giving away an iPhone 7 in February! Enter to win now. wn.nr/3bVtZZ@CliffordF2 1 day ago
- RT @iDropNews: Here's how every iPhone user can use a VPN to keep their online identity safe #applenews ow.ly/Zzuu306raWu https://t.c…@CliffordF2 1 day ago
- 22,813 hits
Most used TagsAccra Africa Amazon Kindle Angel AOL Arts Bavaria Business CBS Charming cheat CNN Confidence trick Copyright notice deceive E-book Email address exploit Extract Facebook Family FOX. Ghana Girlfriend? Google Government Greetings Helina Helina Nartey Hostel (2005 film) Image Information Irkutsk Oblast I Will Always Love You Kim lie Limited liability company London Lord Love Mobile phone Moscow MSNBC Multi-part story NBC Netlog Olga Flippova People Personal postaweek2011 Prince Publishing Quora Recreation Relationships Retired men Russia Russian language Saint Petersburg Sandhausen Social network Social network service swindle Terms of service Travel Travelogues Trust Twitter Uncategorized ABC United States USA Usolye Webcam Windows Live Youth
Daily Archives: June 4, 2011
As a follow-up to several of my posts:
Here is the current US economic situation as of today… There is no joy in Mudville!
It’s Friday, June 3rd, the end of week 23 and the May jobs report is out. As others have said, it is a disaster! Briefly:
- The unemployment rate is now 9.1%, but the average work week has risen from 34.3 to 34.4 hours per week. Average hourly earnings grew 0.3% vs. expectations of 0.2%. This is more evidence that additional people are not being hired; existing workers are
- There were just 54,000 new jobs created in May, 2011. The forecast was 154,000 – three times reality. I need to get a set of those rose-colored glasses that they wear in Washington DC. (Along with one of those white fedoras that Mat Lauer sported in Rome this week!)
- Private sector jobs? No joy; just 83,000 jobs were created and again, way below expectations.
- Manufacturing employment went down 5,000 jobs. This is the very sector we need to pull us out of this longest-running recession in modern times!
You can read the full Bureau of Labor Statistic report, ‘THE EMPLOYMENT SITUATION — MAY 2011’ here.
You can read Joe Weisenthal’s excellent report, May Jobs Report Disaster – Unemployment reaches 9.1% in Business Insider.
From my side of the peninsula, a double dip recession is inevitable! Mind you that I am no economist but common sense tells me that with interest rates near zero (no chance of lowering them further) and the fact that almost half of the current mortgages in many areas of our country are ‘underwater’, and manufacturing jobs gone for good, how can you come up with any other conclusion?
If you have any money available for investment, buy gold or silver. I’d love to tell you to get back into the stock or bond markets, (futures are sliding hard on the news today), I just can’t in good conscience tell you to do anything else!
What a mess!