Friday, May 04, 2012

The Economy Is Still Bad. Maybe Even Worse.

Two items of note:

1)  Labor-force participation is at its lowest rate in 30 years; it's now >88,400,000.  More:  3.638 million more people (according to the BLS) in the country compared to 12 months ago, but there are 141,995 - 139,661 or 2.334 million more people employed.  That is, on a working age non-institutionalized population-change-subtracted basis we have lost 1,304,000 jobs compared to the same point one year ago.  --Ticker

2)  ECRI's smoothed annualized growth rate index dropped below zero today, allowing for a possible recession in the next 12 months or so.

ObozoNomics!!  What COULD we do without it??


Jim said...

It's the lack of spending.

neomom said...

The lack of spending? Are you out of your freaking mind? Have you actually looked at how much Odumbo and his merry band of thieves have been printing and borrowing to spend? The debt has gone up over $5T since he took office. If you think that isn't enough, please, PLEASE, move to Greece.

What has actually happened is that there is so much government spending and debt that it is crowding out any hope at private investment. We have reached the end of Keynes.