Lots of economic news – all bad:
People are unhappy:
Mounting gloom over the outlook for jobs and wages caused American consumers to lose confidence in September, indicating spending will take time to recover…
Because they’re broke:
U.S. median household income fell 3 percent in 2009 to $50,221, the second straight annual drop, the Census Bureau said…
And their home values are dropping:
…Ten of the 20 cities in the index showed a year-over-year increase, led by an 11 percent gain in San Francisco. That left 10 cities showing a decrease, up from five in June, led by a 4.9 percent drop in Detroit…
While gloomy CEOs surely aren’t helping matters:
Chief executive officers in the U.S. turned less optimistic in the third quarter as fewer projected sales and hiring will improve, a survey showed…
Meanwhile, people are hiding ever more of their money in gold:
Gold prices continued to push higher Tuesday, reaching another record high, amid ongoing concerns about the economy…
Which, along with our absurd debt, is causing the dollar to drop:
The dollar traded at almost a five- month low against the euro after U.S. home prices rose at a slower pace in July, fueling speculation the Federal Reserve will ease monetary policy…
And that last bit about the Fed getting ready to print bags of money for the Banksters is, naturally, getting the stock market to rally – proving that no one put pure, unadulterated idiots remain in stocks.
So much for the “Recovery Summer” now – now it is the Fall of the Recovery, and Depression heads towards us like an oncoming train.
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