Proof positive that there is no Recovery. We are languishing in Deepening Depression.

Discussion in 'Economy' started by Neubarth, Mar 19, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    Over the past four weeks, using Yahoo's Economic Calendar to scope the data, I have gathered the following

    http://biz.yahoo.com/c/e.html It is Proof positive that there is no Recovery. We are languishing in Deepening Depression.
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    Industrial Production was up 0.1% for February. If that continues, it will not keep up with the rate of inflation.

    Durable Goods Orders excluding transportation were reported down (–0.6%). That is frightening.

    Consumer Confidence for February plunged to a frightening level of 46 from the previous months 56.

    Housing is continuing to collapse in frightening fashion.

    Housing Starts fell to 575K in February from 622K in January. They used to be 2,300,000 a month four years ago.

    Building Permits fell to 612 K. They used to be 2,276,000 a month four years ago.

    New Home Sales fell to an all time low of 309 K. Could this really happen in America?

    The FHFA Housing Price Index for December was down –1.6 and falling.

    The Case Shiller 20 City Home Index for December was down –3.08 and falling

    Construction Spending fell –0.6% in January and was down –1.2% the month before. Lots of Industrial Builds for rent signs everywhere, but nobody signing leases. Same with Office Buildings. Consequently the construction industry is suffering 75% unemployment all across the nation. Ugh!

    Now, with all that bad news above, Retail Sales were up on average 0.2% for the past two months, thus keeping up with population growth, but not much more.

    Our Trade deficit is Ugly! Current Account Balances for the Fourth Quarter were reported at 116 Billion Dollars and the initial Trade Balance numbers for January were Minus 37 Billion Dollars. That points towards Imports of foreign goods exceeding Exports of American Goods by half a Trillion Dollars a year! To put it in layman’s terms, “That Really Sucks!”

    Whatever happened to “Buy American!”???

    Considering how seriously we were in debt to foreign countries before this Depression, things are getting a lot worse with each passing month.

    I feel like crying for our country.
     
    Last edited: Mar 19, 2010
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    Industrial Production being up 0.1 percent for February does not speak well for the country. The east coast had about 0.2 increase but the rest of the country had no increase, thus averaging out to 0.1
     

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