12.11.08 – Holy llama! 58,000 new applications for unemployment benefits last week, the highest rate since big-haired, soft and sissy metal bands ruled MTV in the mid-1980s, and a widening trade gap to provide icing on the crap cake. The sad part is that the news will keep getting worse well into next year.

Six Months of Job Losses and the Credit Bubble

Poof! That was the sound of approximately 62,000 jobs vanishing from the U.S. economy last month. June marks the sixth straight month of job losses. As for the month of May’s half percentage point spike in the unemployment rate to 5.5 percent – it stayed the same for June as well. Whaddya know? That huge [...]

Inflation is on the Prowl

The worst possible employment numbers were revealed before the stock market’s opening bell this morning. The U.S. economy managed to create a paltry 18,000 new jobs in the last month of 2007. The unemployment rate jumped from 4.7 to 5 percent, although average hourly wages expanded by 0.4 percent- which is a good deal more [...]