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It is quite clear the US economy is sliding back towards recession, if not still in it. The average consumer understands that, yet the average economist doesn’t. How is it that the average consumer has a better grip on the economy that the average economist? Regardless of the answer, here are some interesting survey results from Americans . . . → Read More: 65% Fear Double-Dip, 71% Say US is Fundamentally Broken, Net 32% Expect to Reduce Spending It boggles the mind to think that anyone can possibly think of Olympics as doing anything more than throwing taxpayer money straight down the toilet. Of course vendors and real estate agents do not give a damn about the long-term consequences as long as a quick buck can be made. Now it’s payback time as Vancouver taxpayers . . . → Read More: Olympic Disaster in Vancouver, Taxpayers on Hook for $1 Billion "Ghost Town"  Billion "Ghost Town"">Leave a comment  Mish  2010 olympic games, 2016 olympics, asset management firm, investment advisor representative Consumers have had enough of high interest rates on credit cards but its a case of one plastic for another. Bloomberg reports Cardholders Prefer Debit as Credit-Card Use Falls Total payment volume for debit cards surpassed credit-card volume for . . . → Read More: Consumers Shun Credit Cards – Credit Card Usage Drops, Debit Card Usage Rises The risk aversion trade was back in play today with treasuries, the dollar, the Yen, and gold all rallying while the Euro and European government bonds (except German Bunds) were under significant pressure. Please consider Stocks, Irish Bonds Drop, Gold, Yen Rally on Europe Concern One problem with the NBER recession dating analysis is that it is months and sometimes years late in making its assessments. Marcelle Chauvet, professor of economics at the University of California addresses those shortfalls in an interesting article called Real Time Analysis of the U.S. Business Cycle On Sunday, I received an email from B.J. Lawson saying he has pulled into a small lead over incumbent David Price. B.J. Writes … This election will be proof positive that public sentiment has shifted towards shrinking the size of the federal government, restoring the Constitution and returning to fiscal responsibility. This shift is essential — not . . . → Read More: B.J. Lawson Pulls Into Lead in North Carolina Over Democratic Incumbent The president’s pandering to public unions has backfired and now he wants to create an “infrastructure bank” which would be run by the government but would pool tax dollars with private investment. The New York Times reports Obama Offers a Transit Plan to Create Jobs. It’s Labor Day. The markets are closed. Those working for government, banks, schools etc have the day off. All totaled, 17.3 million citizens do not have a job today nor a job they can return to on Tuesday. Another 8.9 million will not work as many hours as they would like, this week, next week, or . . . → Read More: Labor Day Insanity from Clinton’s Secretary of Labor In response to Reflections on the “Recovery” reader “Thomas” has an interesting question regarding U6 unemployment that I would like to share. Thomas writes … Always look forward to your analysis. One small question. How many living, breathing, frustrated, suffering, hopeless, and poverty stricken actual human beings does the U-6 number 17.6% translate to? . . . → Read More: "Destitute Index" Here is an interesting article on Bloomberg regarding prescription drug usage. The study is from 2008. Please consider Prescription Drug Use Rose to Include Half of Americans in 2008. One of . . . → Read More: Hooked on Prescription Drugs – Half of US Took at least One Prescription Drug in Previous Month |
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