Posted on 04/12/2008 5:38:41 AM PDT by Kaslin
Recessions are part of capitalism. They happen every so often. We've had two in the last superprosperous 25 years. And it looks like we're entering a third one after the latest jobs-loss report.
The unemployment rate went up to 5.1%, which is still a low number in historical terms. But the March labor report showed a loss of 80,000 payroll jobs, while payrolls in the prior two months were downwardly revised by 67,000.
Nonfarm payrolls have fallen for three straight months after peaking last December. Private-sector jobs have dropped four consecutive months.
This is a big warning sign. Within the private-sector report, professional and business services payrolls — one of the biggest gainers over the past 15 years — dropped 35,000, the third straight monthly decline following a December peak.
Meanwhile, the household survey that picks up entrepreneurial small-business totals is now down 678,000 jobs since a peak in November.
The recessionary handwriting looks to be on the wall. Other recession indicators used by the National Bureau of Economic Research, such as disposable income and overall business and retail sales, are now several months below their peaks of last fall.
Lest we get too gloomy, there were some positive spots in the employment report. For example, the median duration of unemployment actually fell to a 15-month low of 8.1 weeks in March, the lowest level since December 2006.
(Excerpt) Read more at ibdeditorials.com ...
Not if the gloom-and-doomers at your CNBC channel have their way, Larry. They will insist this is “the worst economy since the Great Depression”, the line trotted out by the Democrats in every election. It beat Bush #41, even though the economy was growing at over 4% the quarter before the election. So they will certainly run with it again in the fall, no matter what the numbers say.
This Recession Could Be Over Before The Fall....
don’t tell the lib/dems and the lib/dem msm.....the sky needs to be falling at least until they install ~ b. HUSSEIN or the piaps as POTUS!!!!
It’s hard to understand that there’s a recession going on when the mall parking lots are so full I can’t find a place to park, and every second car I pass on the road is new. But small businessmen tell me they’re hurting badly. In fact, I need to order some new granite countertops and I’m hoping to do that before the company I want to order them from goes under and closes its doors.
or even over before summer, IMO.
It has to start before it ends.
Food up 50%, heat up 50%, fuel up 40%. That's the real world, not the world of the socialist, but the real world in our capitalist country. Unlike govt. we, the People, have only a certain amount of money, and unlike govt, we the People have to prioritize. Food, Shelter heat, Fuel and then disposable income.
Let's get real, drill wells, build nuclear power plants, open the closed by clinton coal fields, burn the EPA to the ground and build refineries. That will end the recession. not pipe dreams, not borrowing money from the communists, not hopes and good intentions, not telling me what light bulbs I can use. Burn the EPA to the ground, dig the coal, drill for wells, open refineries and build Nuclear power plants, or get use the the idea of being a third world country.
I think the market has already discounted a recession any way. We see the movement away from ‘defensive’ stocks back to ‘growth’ stocks.
Does it even have time to start before the fall? My dictionary says that you need two quarters of negative growth before you have a recession.
So far we have not even had one.
Slowdowns are not negative growth and as I am currently living in a "One state" recession I do know exactly what negative growth looks like.
A recession is defined arbitrarily by the NBER, and it takes them several months after the fact to say that we had one. That leaves a lot of time for speculation. I don't think there is any doubt that we are in a slow down. There are plenty of neutral sources which indicate that.
Larry Kudlow is a cheerleader who always finds the silver lining for the Republicans, frequently to the point of being unbelievable. I think McCain has some chance of winning, only because the Dems put up such poor challengers themselves. Other than that the Republicans are facing a slaughter in November, and they probably deserve it.
Yep, lib-steins will paint the economy as the worst ever and the koolaid drinkers will become gluttons on it. We are looking towards the “Obomanation” campaign that is coming to our progressive mediaites this fall.
where are you shopping, realist? Get out of there.
Where are you shopping where staples have not gone 50%?
Since 84 lumber just announced they are closing over 30 stores you might start there.
The price of a barrel of oil has doubled since dims got congress back. Job expansion that set a record while they were out of power started going backward when they got congress back. Grocery bills for the average family have gone up $70.00 per month since dims got congress back. The market has lost 10% since dims got congress back. Home prices have lost 8% since dims got congress back. Inflation has gone up the most since the early ‘90s, in the time since dims got congress back.
ALL this has happened since dims got the congress back and an economy that was ROARING along has all but stopped. dims suck.
http://www.youtube.com/watch?v=fY2dOJi41SI&eurl=http://www.google.com/reader/view/
I have managed to really cut costs by eating a good low grade dog food 3 times a week....It really grows on you after a while and as a benifit Ive dropped 5 lbs.
Okay on most of that except the need for new refineries.
Great link, everone should see it.
Did you know that Archie bunker was a prophet? Watch Archie talking about the dims. http://www.youtube.com/watch?v=7fqCS7Y_kME&feature=related
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