Lost in the news this morning was the Bureau of Labor Statistics report: 142K jobs, 5.1% unemployment, labor participation rate down to 62.4%. And the previous two months’ reports were adjusted downwards. This is all rather bad news. In fact, as Bloomberg Business put it:
“When you look through all the details of the data, there just isn’t anything good to hang your hat on,” said Thomas Simons, a money-market economist at Jefferies LLC in New York. “It’s been years since we’ve seen such an unambiguously bad report.”
I had a bunch of half-understood stuff about interest rates written here, but it was indeed only half-understood and if you fully understand it you don’t need me nattering at you. Suffice it to say that the economy’s in neutral and it’s staying there for a while. Happy happy, joy joy…
This is bad and then think how much worse it would be without the effect of $40 / bbl oil . At the consumer level , I guess it to be worth an extra $1200 to $1500 extra ‘income’ per driver , per car . ( 12000 miles /year , 20 mpg , $2 a gallon cheaper ) . Or there abouts . If any of the R’s had a brain between their ears they would be shouting that this is how free market capitalism works ..
Yeah. If fracking had been banned like asbestos – like the “progressive” Left wanted to* – then the economic figures would have been one teenager away from a slasher flick.
*They claim to love science – they worship a pre-industrial agrarian utopia that never actually was.**
**Pre-industrial agrarian times did have fewer pesky humans around – progressives, for example.
not really even in neutral.
Statistics… yeah, right. The actual unemployment figures will have to wait for the next Republican POTUS. The Media will be sure to tell them.
I cannot understand for the life of me why so many Republican candidates want to be President.
Don’t they realize what a s**t-storm awaits them?
“I picked a bad day to give up drinking.”