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Tuesday, June 19, 2018

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I know I have mentioned before that our way out of the current mess is largely going to be determined by attitude. Our faith that things will get better and yes, sometimes it seems like blind faith but here is some eye opening information to bring some clarity to all of us. Here we go:

To all those newswriters and general naysayers, let's see how we stack up against The Great Depression:

Decade Data 1929-1939:

Key Stat: Unemployment 25%

Dow Jones: Down 89%

GDP (Gross Domestic Product): Down 11% or $103 Billion

Current Market Data

Key Stat:... Read More

The recession began in December 2007. That was fifteen months ago. Since that time, the U.S. economy has lost 4.4 million jobs. According to the Department of Labor more than half of those 4.4 million loses have happened in the last four months – three of which are while Obama has been president.

He promised reform and recovery. So far he’s delivered speeches with the help of teleprompters, flown all over the United States on a “spiffy” plane, named at least four people to his cabinet who don’t think they have to pay taxes and treated British Prime Minister Gordon Brown like a red-headed... Read More

The country’s unemployment rate stands at 7.6 percent, meaning that more than 11 million Americans are now without jobs. However, while the employment rate among high school graduates with no college education hovers at eight percent, those with bachelor’s degrees or higher are seeing the unemployment rate drop by more than half, to 3.8 percent, according to the U.S. Labor Department.

Additionally, the average annual salary for individuals with graduate or doctoral degrees is $75,000, while bachelor’s degrees command an average salary of $51,000. For... Read More

The headlines the other day were ominous; GM will cut 47,000 jobs (upwards of 10% of their workforce) and in order to stave off total financial ruin for the U.S. economy, they need an additional 18 Billion, with a B, dollars from the U.S. Government.At first blush these numbers would seem to lend credence to the idea that the sky is indeed falling and Chicken Little is right, but in fact, a quick look at the “actual” numbers tell a far different story. GM will indeed cut 47,000 jobs worldwide, but only 20,000 of those will be in the U.S. And those half a million jobs which are so... Read More

In the past year, we have all asked the question how did we (the United States) get to where we are now, in terms of our economy. I cannot say that it was greed or lack of forsight but here is my take on how we got here and what the journey ahead may look like in the coming months.When the economy was on an upswing around 2003/2004, a lot of things came easily. Loans, houses, jobs, bonuses, opportunity, all of it was free flowing and didn't seem to have an end in sight. The tech bubble was deflating and everyone was getting their real estate license and making a lot of money selling houses.... Read More

The Great American Work FarceMcCain spoke of the great American worker’s ethics. I have seen this work force in action as have some of you. I went to court the other day and had to pass an electronic metal detector much like the ones at the airport, when the officer in charge of security who was supposed to observe people entering , was engrossed in text messaging. She did not even notice me or look up to see me passing through the detector, I beeped, she had me run through again after removing my keys from my pocket, and did not even look at me the second time, again still in her mid texting.

... Read More

“I’m sorry sir, the card is declined”, said the middle aged Arab looking man with a twinkle in his eye I didn’t quite appreciate. I was at Thanasi’s, my former favorite liquor store, trying to put a $20 bottle of vodka on my credit card. I knew it wasn’t overdrawn because I’d happened to check the balance that morning. “There should be plenty on that card….”, I said. He ran the card again. “Still declined. We have an ATM right there”, he said, pointing to a machine that will mug me for $2.50, in addition to the $2 Bank of America will charge me. He was still staring at me with that damn twinkle... Read More

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