Inflation Up, Sales Down, Jobless Claims Up…yet again.

Round and round we go…when the pain stops…nobody knows…

Twenty five months into the worst recession since the Great Depression- still no relief on the horizon.

In case you were confused by the pompous distortion coming from Washington (especially the left) RE will clarify the FACTS for you. The Department of Labor stated that the Consumer Price Index rose 0.1% last month, after increasing 0.4% in November. This mainly due to a RISE in food and energy costs. Great, gasoline prices are double of what they were a year ago and now food prices are climbing. Just what the American public needs right now.

Well, maybe we can offset the inflation with that raise we are all expecting, right? Oh no, that’s right. Wages have DECREASED, as real hourly earnings fell in December.

Some more sobering news,  retail sales in December fell 0.3% and excluding autos, sales decreased 0.2 percent. This was the biggest yearly sales drop on record. How about auto sales? Oh yes, they are falling just as predicted- once the CARS program ended.

Now to the employment scene, or lack thereof. Jobless claims INCREASED by 11,000 last week. Gee, only 440,750 persons applied for initial jobless benefits. What? What? What? How is that possible (asks a dumbfounded pelosi, reid, obama and the rest of the peanut gallery on the left)

Oh but wait. The rhetoric claims that even though unemployment CONTINUES, it’s slowing. Oh, I  s e e. Wow, that must be great news for the nearly 35 million total unemployed (U-6) workers in the U.S. Whew, what a relief.

Well how about housing? There must be some good news in the housing sector, no? No. Foreclosures for 2009 hit an all-time  record high with 2.8 million properties seized. For 2010, most predictions are even worse as a new crop of homeowners will fall into delinquency- because of a LACK of JOBS. Simply put, the unemployed are not going to be able to avoid impending foreclosure.

So while the left attempts to distract the public with health care and such, making outrageously false claims about adding two million jobs, etc. America keeps declining. Slowly but steadily, further declining. Folks, there is no good news at all, economically and/or socially. Things are very bleak for the majority of the country, without an immediate end in sight.

« Initial Jobless Claims (unexpectedly?) RISE in U.S. – soar to 474,000

The Albatross – forever (and still) aloft… »