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| Economy |
| Spengler on US Economy |
| 2014-02-05 |
| When employment hit an air pocket in December, most analysts brushed off the dreadful jobs number as an anomaly, or a function of the weather. They chose to believe Ben Bernanke rather than their lying eyes. It’s hard to ignore a second signal that the U.S. economy is dead in the water, though: on Monday the Institute for Supply Management reported the steepest drop in manufacturing orders since December 1980. ...Business won’t invest in brick, mortar, equipment and labor. Part of this is due to the Obama adminstration’s regulatory reign of terror. Part of this is due to Obamacare, which adds to business costs. Part of this is due to secular trends–what Nobel laureate Edmund Phelps calls a “structural slump.” We no longer have high-tech companies: we have instead aging monopolies run by patent lawyers. |
| Posted by:g(r)omgoru |
| #4 No surprise here - as said times before, OWG GLOBAL JUNKERS GRUPPES. |
| Posted by: JosephMendiola 2014-02-05 20:41 |
| #3 We no longer have high-tech companies: we have instead aging monopolies run by patent lawyers. Patent lawyers who just months, years ago were Capital Hill aides and executive branch bureaucracy employees who crafted the rules and regulations. |
| Posted by: Procopius2k 2014-02-05 09:06 |
| #2 The wealthy knew the storm on the horizon was coming. They have unloaded. Sell high buy low. In December or earlier the Baltic dry index was extremely poor,low shipping numbers. So low inventories. Low expectations. Then at least your on hand inventory tax will be low. Corporate prudence to hold onto cash. Borrowing is out of the question. That just digs your hole deeper. High paying jobs will be hit first. Part timers will lose hours. Raise minimum wage and even more cuts. Management will be required to fill in the holes period !, if they want their job. Federal and State governments do not care. They can lose millions, billions even trillions and are not held accountable. |
| Posted by: Dale 2014-02-05 08:19 |
| #1 Eleven states with more people on welfare and rocking chair money than employed. |
| Posted by: Besoeker 2014-02-05 07:02 |