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Saturday, May 5, 2012

How bad is the economy?

This is just one page of articles from one website on one day.

News and Trends

May 4, 2012

People Not In Labor Force Soar By 522,000, Labor Force Participation Rate Lowest Since 1981- Zero Hedge--5.4.12
The number of people not in the labor force rose by 522,000 in April alone. This is the highest rise on record for people leaving the labor force. The author explains that the reason the unemployment rate dropped is because the labor force participation rate just reached a 30-year low.

Oil in Free Fall as Economic Worries Spur Selling - CNBC--5.4.12
Oil prices saw a free fall on Friday as many worried about a weakening global economy and less fear of a confrontation with Iran. Many are also concerned that the US economy is not strong enough to supposed a weak European economy and slower growth in China.

Lies, Damned Lies and Government Jobs Data - Fox Business--5.2.12
As analysts dig into the government jobs numbers, questions are being raised about the reliability of the data. 59 out of the last 60 weeks, the weekly jobless numbers have been revised after the fact to a higher number. The unemployment rate has been questioned too because the number doesn't include people who stopped looking for work, but still want a job.

Our central bankers are intellectually bankrupt - Financial Times--5.2.12
According to Ron Paul, the current financial crisis has exposed the intellectual bankruptcy of the world's central bankers. He goes on to say that interest rates are prices and the manipulation of those will have a serious negative impact on the economy.

Why U.S. House Prices Won't Recover - Smart Money--5.1.12
According to the author of the article, housing prices are likely never to recover. He explains this by saying that the natural rate of price appreciation is zero after inflation. Prices will eventually resume rising, but its unlikely to rise faster than inflation.

Occupy Wall Street Plans Global Disruption of Status Quo - Bloomberg--4.30.12
Wall-Street protestors are planning a global march tomorrow in order to call attention to abuses of power and wealth. They will be joining labor organizations on May 1, also known as International Workers' Day, and plan to march from Unions Square to Lower Manhattan.

We Are in Age of ‘Late Great Depression’: Shiller - CNBC--4.30.12
Expert Robert Shiller believes that the world is in a state of "late Great Depression" and the world is in a "new age of austerity." He goes on to say that the entire economy has been affected by variations in confidence and people are not in a trusting mood right now.

Disruptions: With No Revenue, an Illusion of Value - NY Times--4.29.12
According to the author of the article, some start-up businesses in Silicon Valley are advised by investors to not make money. This way the investors can come up with what ever valuation they want. For these start-ups, fewer numbers in the equations mean a valuation can be made out of thin air.

A parable for our times - Daily Inter Lake--4.28.12
The author compares the lives of two famous singers, Pat Boone and Elvis Presley, and how even though they lived very different lives, they were perceived as a bad influence and a threat against the country. While many saw Presley as a threat during the high point in his career, Pat Boone is seen as one today by some of the faculty at Adrian College, a small college in Michigan.

Maybe no housing rebound for a generation: Shiller - Chicago Tribune--4.24.12
According to the authors of the article, the housing market will likely remain weak and may take another generation to rebound. According to one expert, this is due to a weak labor market, high gas prices and a general sense of uneasiness among consumers.

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