With initial claims worse than forecast, with an increase to 414,000 initial applications, with the 4 week moving average rising as well, though continuing claims fell slightly.
When you look at this, and a weak Beige Book from the Fed, and the fact that there were absolutely no jobs created in August, the idea that we are in any sort of recovery is laughable.
We're in a deflationary spiral, and the already inadequate stimulus has been on the down slope for over 6 months, and somehow or other people believe that the austerity fairy will solve things, when it's actually going to make it worse.
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Matthew Saroff, Mechanical Engineer, Owings Mills, Maryland, US
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Matthew Saroff, Mechanical Engineer, Owings Mills, Maryland, US
I reserve the right to reprint any email correspondence on my blog.
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A member of the Democratic wing of the Democratic party, and a fan of Bernie who thinks Neoliberal (DLC/New Dem) trickle down conomics sucks.Mechanical Engineer with a background in defense, electronics packaging, medical & food equipment, transportation, and manufacturing.
In my spare time (Hah!), I am the developer of the Firefox addon, bbCode for Web Extensions (bbCodeWebEx).
I have two cats, a black cat, and a gray and white long hair cat, who keep me on my toes. (Because he keeps attacking my feet)
I am a Jew and a Zionist, who is married to a woman with exquisitely bad taste in men, and I have two remarkable children with her.
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I am a complete whore, so assume that any review is the result of free stuff, and/or under the table payments.
I will do my level best to reveal such conflicts when I remember to.
Contents © Matthew G. Saroff, 2007 — 2023
2 comments :
You are absolutely correct, this is indeed the dreaded deflationary spiral, when it comes to wages and personal wealth. Unfortunately, the inflation genie is also emerging, with energy and food reaching new highs with the devaluation of the currencies.
This does not follow standard (flawed) economic models. We are in for a very rough ride for the next few years.
I would argue that this is a fairly classic Keynsian scenario, with the addition of excessive rent taking (speculation in food and commodities) causing price increases in those areas.
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