No question the economy is slowing down so this article from Forbes.com is not surprising: The Conference Board found there was a total of 3,733,200 online-advertised job vacancies, a 0.6% decline from March 2007 and the first year-on-year fall in total numbers since the index began in 2005. The Board said the decline reflects a slowing in annual growth in 42 states, with 14 states showing negative growth. Yes, I know, the index is only a few years old, but there is enough data to show the present-day trend. Here is some anecdotal information from the survey: The online-ad volume in California dropped 118,000, or 19%, below its March 2007… Read More
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Why do the so-called experts consistently error on the doom-and-gloom side of economic prediction? The latest numbers via CNNMoney.com’s Jobs grow more than expected: Employers added fewer workers to U.S. payrolls in November, according to a closely-watched government reading on labor market strength released Friday that still came in a bit stronger than Wall Street expectations. Folks, you ever notice they always expect worse numbers? Note how they open the article with a negative comment even though the number is 24,000 jobs higher than expectations. The number will be revised later and the economy is cooling off after a torrid pace during the summer. But it is still strong.
Continue ReadingFinancing Via Job Change
I enjoy skewering the mainstream media for “talking down the economy” which is a practice they condemned back in 2000. But all signs point to a slowdown in this red-hot economy which has led the Federal Reserve to target a soft landing. I’m no economist, but I found this article by John Sumser quite interesting. His take on the economy is one I have not heard (emphasis mine): The veterans, burnt by the dot com bust and the post 911 recession will argue that business will contract and layoffs will ensue. That’s the prototypical recession profile. Everywhere you turn, this scenario is forecast or implied. … Or, there may be… Read More
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