WorldNews版 - 10 Things About The Latest US Economic Number |
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发帖数: 2136 | 1 On Friday, headlines across the United States declared that "unemployment
remains unchanged at 9.6%". Many analysts rejoiced and heralded this
announcement as a sign that we have hit bottom and that things will be
turning around soon. But is that the truth? A closer look at the
unemployment numbers reveals some disturbing facts. For example, according
to the Bureau of Labor Statistics, a broader measure of unemployment that
includes workers that have stopped looking for work rose sharply to 17.1%.
But that is not the only troubling sign from this past week. Agricultural
commodities continue to skyrocket, which means that food price increases are
on the way. The foreclosure "robo-signing" crisis continues to escalate,
and that threatens to throw the entire mortgage industry into a state of
absolute turmoil. Meanwhile, the U.S. national debt continues to grow and
wealth continues to leave the United States at a dizzying rate http://theeconomiccollapseblog.com/archives/19-facts-about-the-deindustrialization-of-america-that-will-blow-your-mind.
So is there reason for optimism?
No, not really.
Even if the unemployment numbers had improved slightly, the longer-term
trends for unemployment are extremely troubling as you will see from the
statistics and the chart below.
At the same time when so many Americans are out of work or can barely get by
on what they are currently making, there is every indication that prices
are about to go up. Wheat, corn and soybeans all jumped in price on Friday,
and it is inevitable that at some point these price increases will be
passed on to consumers. And if that wasn't bad enough, now some Federal
Reserve officials are actually talking about purposely generating more
inflation in order to "stimulate" the U.S. economy. http://theeconomiccollapseblog.com/archives/federal-reserve-officials-americans-are-saving-too-much-money-so-we-need-to-purposely-generate-more-inflation-to-get-them-spending-again
Meanwhile, this "robo-signing" foreclosure crisis threatens to escalate
totally out of control. Will we soon see thousands of court cases popping
up from coast to coast challenging the legitimacy of foreclosure paperwork?
Will title insurers start totally backing off from foreclosed properties?
Banks were already completely overwhelmed trying to process the massive
backlog of foreclosures. Is this going to make the situation a whole lot
worse?
The truth is that more bad news for the U.S. economy comes out almost daily
now. The following are 10 things that you need to know about the latest
econ0mic numbers....
1 - Gallup's measure of unemployment, which is not adjusted for "seasonal
factors", showed a sharp increase in September. According to Gallup,
unemployment has increased from 8.9% in July to 9.3% in August and to 10.1%
in September.
2 - The seasonally-adjusted Alternate Unemployment Rate compiled by Shadow
Government Statistics shows that the real unemployment rate in the United
States is worse than it has been ever since the economic downturn began.
The Alternate Unemployment Rate calculated by SGS reflects estimated "long-
term discouraged workers", which the U.S. government stopped keeping track
of back in 1994....
3 - The number of Americans working part-time jobs "for economic reasons" is
now the highest it has been in at least five decades.
4 - 15.8% of Americans between the ages of 18 and 29 were unemployed during
the month of September.
5 - Agricultural commodities continued to move higher on Friday. Wheat,
corn and soybeans all saw their prices soar. Unfortunately for American
consumers, this is part of a broader trend of rising agricultural commodity
prices. As this continues, it is inevitable that we will all be seeing much
higher food prices at our local grocery stores.
6 - It is being reported that PNC Financial Services Group has suspended the
sale of foreclosed homes for the next thirty days. This is the fourth
major lender to take dramatic action recently. Will nearly all U.S.
mortgage lenders eventually be caught up in this crisis before it is over?
7 - Bank of America announced on Friday that it is now going to suspend
sales of foreclosed homes in all 50 U.S. states as it continues to evaluate
internal foreclosure procedures. This "foreclosure crisis" threatens to
decimate the entire U.S. real estate industry. What has happened is that
millions of U.S. mortgages were sold and resold around the globe at
lightning speed and the chain of ownership for many of these mortgages
become muddied. In addition, it is starting to emerge that many of these
lenders used fraudulent loan documents during foreclosure proceedings and
company officials often used "robo-signers" to sign important foreclosure
documents. So now mortgage lenders, title insurers and those buying or
selling foreclosed homes will be facing years of gridlock and chaos as
foreclosure-related lawsuits multiply exponentially. All of this is going
to have a dramatic effect on the U.S. |
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