Big financial markets fall

Good morning! Yes, yes, the U.S. financial markets took a big tumble on Thursday.  The DJIA fell 2.6%, its biggest percentage decline since early July of 2009.  While the S&P 500 fell 3.1%, its worst decline since April of 2009.  The big sell off is believed to...

Productivity results

Good morning! The Department of Labor released fourth quarter productivity figures this morning.  Productivity in the U.S. rose by 6.2%.  For the whole of 2009 the DoL reported that productivity rose by 5.1%. Analysis: Increases in productivity are my favorite...

Employment situation still treading water

Good morning folks! I hope that this message finds you doing well. That scion of payroll, ADP, tracks unemployment privately, in addition to efforts by the U.S. government. Today, ADP said that the U.S. economy lost 22,000 private sector jobs in January. This figure...

Consumer income exceeds spending (!)

News today from the Commerce Department says that consumer incomes rose 0.4% in December. Yet, despite this, consumer spending only rose 0.2%. I consider this to be good long-term news. Analysis: Quick, what got us into the economic debacle of the past two years? Many...

Media distortion of GDP report

First, if you haven’t read my GDP post below, do that first then come back here. The media are taking the 5.7% GDP growth figure and running with it. For example, CNN is saying, “Best economic growth in years.” Huh? Meanwhile the Wall Street Journal...