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| At least I’m lucky enough to still have my Oregon job: Oregon’s jobless rate has taken a dramatic jump, to 12.1 percent in March — a rate seen only once before since the years after World War II. The increase could put Oregon on a pace to have the highest unemployment rate in the nation when those figures are released on Friday, state labor economist Art Ayre [...] I’m hoping it’s Obama – but he’s already given away the store in the form of tax cuts and striking family planning and the National Mall renewal from the bill. Maybe he just wanted to give the Republicans enough rope to hang themselves. I certainly hope so, because even if this stimulus bill works perfectly and creates/saves 4 million jobs, it won’t get rid of [...] Congratulations! It’s the “worst recession in decades“: The American Trucking Associations (ATA) reported for-hire truck tonnage plummeted 11.1 percent in December, the largest month-to-month drop since April 1994, and the third-largest decline since the ATA began collecting this data in 1973. Compared with December 2007, the index declined 14.1 percent, the biggest year-over-year decrease since February 1996. During the fourth quarter, tonnage was down 6 percent from [...] See, Ed, I was right: The real problem is on the demand side of the economy. Consumers won’t or can’t borrow because they’re at the end of their ropes. Their incomes are dropping (one of the most sobering statistics in Friday’s jobs report was the continued erosion of real median earnings), they’re deeply in debt, and they’re afraid of losing their jobs. Introductory economic courses explain that aggregate [...] I just got my Fidelity IRA statement and don’t have the guts to open it. So far this morning, the Dow has fallen almost 360, with many wondering if it will lose 1,100 before 2pm triggering a suspension of trading. Something has to be done to quell fears of a national/international recession bordering on depression. Yes, emotion is driving the market, but their are big, bad [...] From our international banker this morning: The U.S. economy may yet slip into recession, but inflation is an even bigger risk given the “exceptionally” stimulative stance of monetary policy, Richmond Federal Reserve President Jeffrey Lacker said on Tuesday. Lacker pointed out that when adjusted for inflation, the federal funds rate for overnight lending, currently at 2%, is at its lowest level in post-war history [with [...] | Available Streams 2    | ||||
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