The current debate over the economy has been written to suit political whims and the needs of floundering mainstream news outfits, such as CNN.

There is no doubt that the current shape of the US economy is wanting, but what is most ironic, is that despite claims to the contrary, Republicans demanded (and got) a slowing of government spending. Then ( Read more... )

The government issues benchmark revisions to its jobs estimates every couple of years or so, upon reviewing more complete, and correct data. Often this comes after extensive reviews of tax receipts. This time, US income data from 2010 strongly suggests that there was actual net job destruction, again, during that year, compared with current ( Read more... )

Despite the addition of another solid month of jobs gains in the private sector according to the medium to large sized businesses who were sampled, initial jobless benefits claims and also the official U3 Household Survey Unemployment Rate both rose significantly last month.

Initial Unemployment Claims (Source: Econoday.com)

( Read more... )

Long Post: The Good The Bad & The Ugly

Now the bad news: The Payroll Survey suggests December took far more back than were added in November, with a net loss during the month of 85,000. But much, much worse, the Household Survey suggests that outright massive losses are still ongoing, with a net job loss in December of an astounding five hundred- ( Read more... )

OK! Hopefully ElJay won't delete my post this time. (Grrr ( Read more... )