Swine Flu UpatesDavid Stockman, a former Ronald Reagan finance insider from the 80’s who helped craft Reagonomics has called the US Economy destroyed. Flatline was diagnosed this week. He ticks off four points by which the GOP (not the Democrats all though they definitely provided a serious assist) DESTROYED the US economy.
MarketWatch article – breaks down the 4 points clearly
Original Op Ed article by Stockman himself "Four Deformations of the Apocalypse"
Seven states received a wakeup call this week as new unemployment statistics confirmed that depression era level double digit unemployment has already struck.
Seven states posted unemployment rates larger than 10 percent in January, according to figures released Wednesday morning by the U.S. Bureau of Labor Statistics.
Michigan was saddled with the nation’s highest jobless rate in January, 12.5 percent in statistics that were not seasonally adjusted. It had been the only state to rise above 10 percent during the previous month, December 2008.
Also topping the 10-percent mark in January were Rhode Island (11.4 percent unemployment), Oregon (10.9 percent),...
The total debt of the United States is approaching 120% of our GDP when you combine the debt of the US Federal Government, the States and local governments, and this NEW debt we have taken on in the form of Freddie Mac, Fannie Mae and AIG.
Historically, no economy can grow quickly if at all when their debt is 90% or more of GDP. Historically, no government or economy can survive when it actually hits 120%.
This Time is Different helps explain what has happened, what is going on, where we are...
Maybe you are one of the 3 million plus people that lost a job in 2009 or maybe even one of the 5 million plus people that lost a job the year before in 2008. Either way, you are probably very happy to learn that in 2009 the Federal Government spent $787 billion dollars to create just 600,000 jobs.
Actually, according to their own numbers, ALMOST 600k jobs.
That means the government spent $1.3 million per job! ...