Data suggest economy stagnating

Source: Reuters

The housing market has still not reached bottom, the number of workers drawing jobless benefits has hit a 2-1/4-year high and consumers are tightening their purse strings, reports on Thursday showed, suggesting the economy may have screeched to a halt.

Pending sales of previously owned homes fell by 1.5 percent in December and were off a sharp 24 percent from a year ago, the National Association of Realtors said.

Separately, the Labor Department said new claims for unemployment aid edged down from a two-year high last week but the number of workers remaining on the benefit rolls has reached a level not seen since October 2005 in the aftermath of Hurricane Katrina.

Read more: http://www.reuters.com/article/ousiv/idUSWNAS984120080207

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Cheney said that R~gan proved deficits don't matter

!?WHAT?! THAT'S BULLSHIT!!!

Living on borrowed money =
Living on borrowed time
& the Crem de la Creme
get a free ride

while the vast majority of us
struggle to stay allive

+++++++++++++++++++++++++++++
two Americas do not =
One Great Nation

the bottom. According to estimates, the biggest hit will be March of this year. That's when the highest number of mortgages will reset to higher interest rates.

That's when people jump off the Housing Merry go Round and walk away.

Of course, it will take some time for the real estate market to stabilize.
I don't think anyone really knows when the market will reach some kind of equilibrium.
================
Deficits don't matter?
Every time I read about the mortgage meltdown, I think about Cheney.
Stupid fool.

have a "workforce" that is desperate to wash, wax and oil your vintage car collection - or do anything else that you tell them to.

This economy has been so hurting for so long. How long does the lying scum media keep up the cover stories.

Maybe a recession!
Maybe slowed economic growth!
Gas prices may be higher - goes with record profits for oil companies!
Wages may be stagnant - price of everything up 20%!
Housing market may be in a downturn!

http://www.delawareonline.com/apps/pbcs.dll/article?AID=/20080203/BUSINESS/802030353

Gasoline prices take a back seat to $4.50 for a gallon of milk

The six Azevedo children love milk. But lately, parents Sarah and Craig have been buying less of it.

As prices continue to hover above $4 a gallon, working families are cutting consumption and contending with another case of 21st century sticker shock. "We go through easily three gallons a week," said Sarah, 32, who lives in Bear and is contending, like most families, with a barrage of price hikes, from eggs to gasoline....In 2007, milk prices rose 19 percent, a leap that has puzzled even the people who produce and sell the stuff. Understanding the dynamics of the market requires a lesson in macroeconomics and a short course in modern globalism.

or Moral?

who said that he thought that we were only about 40% into the housing crash so far.

Read the Shock Doctrine.


Destroying the economy is one of the Goals of the republicans

is forcing us to pay it back with interest.

It's a Class War

It's REALITY that suggests the economy is stagnating!

:eyes:
rocknation

:eyes:

.
.
.

It's in free-fall, and gonna get worse.

Long overdue methinks. Why should a country supposedly as rich as the USA owe billions of dollars to China, and who knows how much else around the globe?

I'm a poor man, but I owe next to nothing. NO credit cards, no loans, no mortgage.

I live within my means, albeit meager.

When I get a chunk of money,

it's all mine.

Now why can't a "rich" country like the USA just work on what they "have" instead of what they "want"?

Oh, it's that greed thing.