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2010-12-08 Economy

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Posted by Fred 2010-12-08 00:00|| || Front Page|| [11126 views ] Top

#1 We've seen some encouraging signs that a recovery is beginning to take hold. Whoever believes that is either a fool or a liar.

The problem has been kept mostly hidden from the public eye. No, it has been out in the open for anyone who cared to look. Very few have cared to look. Math is Soooo boring.

Posted by Anguper Hupomosing9418 2010-12-08 00:20|| 2010-12-08 00:20|| Front Page Top

#2 Another sign of economic recovery:
Walmart will be eliminating extra pay for working on Sundays. This will apply to workers hired after 1/1/11. Current employees not affected.

Posted by Anguper Hupomosing9418 2010-12-08 05:32|| 2010-12-08 05:32|| Front Page Top

#3 Well, for a store that is open 24/7, what's one day from another? I'm old enough to remember real Puritan 'Blue Laws' in the states with the only thing open on Sundays were pharmacies for 'medical' purposes, which is why they evolved from simple drug and pill dispensing to mini pre-Walmarts.

Posted by Procopius2k 2010-12-08 08:58|| 2010-12-08 08:58|| Front Page Top

#4 Red States are in the black, Blue states are in the red, pretty simple math here folks.

Posted by 746 2010-12-08 09:07|| 2010-12-08 09:07|| Front Page Top

#5 The only 20th Century example of a State defaulting on its bonds was Arkansas. However, in the Panic of 1837 took out Illinois, Indiana, Maryland, Michigan, Pennsylvania, Arkansas, Louisiana, Mississippi, and the Territory of Florida.

In that case, in the State of Mississippi, things were only finally resolved in 1996. Thats when the state Supreme Court dismissed a case brought by the heirs of British bondholders who sought $13.8 million for the $1.5 million of debt they held, plus 152 years of simple interest.

Posted by Anonymoose 2010-12-08 10:37|| 2010-12-08 10:37|| Front Page Top

#6 The states and local communities have started reducing staffing in response to their dire financial situation. This is going to be a drag on unemployment numbers for quite some time. It would be interesting to see employment reports broken down into private and public numbers and trends. (It's probably in a table somewhere, but I haven't noticed anyone talking about it.)

Posted by trailing wife 2010-12-08 12:05|| 2010-12-08 12:05|| Front Page Top

#7 I understand from a dad who has a son in Afghanistan that the quality of new recruits has fallen. Reason given was sign up bonus has stopped.
I don't know myself for certain.

Posted by Dale 2010-12-08 16:18|| 2010-12-08 16:18|| Front Page Top

#8 the quality of new recruits has fallen. Dale

When the service "leadership" endorses bum buggering such declines should be expected.

Posted by Besoeker 2010-12-08 16:22|| 2010-12-08 16:22|| Front Page Top

#9 Property tax appeals swamp US local governments (Bloomberg) This is the link between the collapse of the housing bubble and falling tax receipts for local governments, which are calculated from real estate valuations. From Los Angeles to Atlantic City, the New Jersey gambling resort whose credit rating Moodys Investors Service cut by three levels last month, property owners are demanding lower taxes after real-estate values plunged. The disputes over billions in dollars come as municipalities are already slashing services such as police and fire protection and may depress revenue further as communities try to recover from the longest recession since the 1930s.

Posted by Anguper Hupomosing9418 2010-12-08 16:27|| 2010-12-08 16:27|| Front Page Top

#10 Lowest pay raise for military since 1962?

Posted by Anguper Hupomosing9418 2010-12-08 16:31|| 2010-12-08 16:31|| Front Page Top

#11 I feel for the military, but most non-gov't workers took significant pay CUTS a couple of years ago. Except for our friends the bankers, of course.

Posted by Black Charlie Chinemble5313 2010-12-08 17:01|| 2010-12-08 17:01|| Front Page Top

#12 AH I'm glad you said bubble.

These debts were really run up during the disastrous credit bubble. If that had been reigned in, then the economy would seem to "shrink" because of the damage the current taxation system does to money velocity.

Posted by Bright Pebbles 2010-12-08 19:54|| 2010-12-08 19:54|| Front Page Top

#13 Lowest pay raise for military since 1962?

Coulda've fooled me. I still remember being in Gerard Ford's Whip Inflation Now'a army when they were giving us about 2% when the inflation rate was running towards the teens. It wasn't much better in Jimmy's army either as inflation started over that mark.

Posted by Procopius2k 2010-12-08 22:33|| 2010-12-08 22:33|| Front Page Top

00:05 trailing wife
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