Results of Michigan’s economy

I’m sitting here in my Dad’s truck right now near my house at Wendy’s and I wanted to show you a picture of something:

Empty Wendy’s Parking lot

This is of course a parking lot in a Wendy’s near my house. This restaurant has been a Wendy’s since the early 1990’s. when it was a Hardee’s prior to that.

I can honestly tell you back in the 1990s that the parking lot that I’m sitting in now around this time of the day, between 12pm and 3pm, this parking lot would literally almost be full and the restaurant packed.

Nowadays, it sets half empty, all the time. This is what the Democrats did the folks right here, what you’re looking at it that picture above, is the decimation of our economy.

To his credit, Governor Rick Snyder has done what he could do to fix it and to bring Michigan back.

But the truth is folks were into a recession deep and I think it’s going to take maybe 20 to 30 years, before were are actually able to fix what the Democrats broke, this is why we need to vote differently and I pray that Trump makes it through the primaries and gets to the general and decimates the Democrats.

They should pay for what their policies caused in this country. 😡

Just thought I’d share that.

This might be why the world economy is in the pooper

As I just wrote, the world economy is in the dumper.

Well, this here might be why; via HotAir.com:

Looks like the 2015Q4 GDP results told a broader story than some credited. The Associated Press called the results from today’s Bureau of Labor Statistics report “a sharp deceleration from recent months” (later removing “sharp” from that description), paralleling the sharper deceleration of production. The US economy added only 151,000 jobs, a miss on expectations and barely enough to tread water on population expansion:

Total nonfarm payroll employment rose by 151,000 in January, and the unemployment rate was little changed at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in several industries, led by retail trade, food services and drinking places, health care, and manufacturing. Employment declined in private educational services, transportation and warehousing, and mining.

Numerous news services heralded the a drop in U-3 rate of unemployment to 4.9%, but the number of people not in the workforce also rose by 360,000 people from last month (table A-16). That follows an increase of 284,000 the previous month. Those not in the labor force who want a job increased by 461,000, and that follows an increase of 379,000 in the previous month. The latter measure had been falling in 2015, but has reversed itself by 840,000 in two months — both in the 0.7%-growth-rate Q4. [see update above]

Needless to say, this leaves the workforce participation rates near their historic lows:

After accounting for the annual adjustments to the population controls, the civilian labor force and total employment, as measured by the household survey, were little changed in January. The labor force participation rate, at 62.7 percent, was little changed. The employment-population ratio (59.6 percent) changed little over the month but was up by 0.3 percentage point since October.

The U-3 rate dipped down to 4.9%, but that appears to be a rounding issue more than a significant shift. The broader U-6 rate remained at 9.9%, where it has been for three straight months after briefly dipping down to 9.8% in October. For comparison, October was the first time since May 2008 that U-6 scored under double digits, and the U-3 rate in May 2008 was 5.4% while the workforce participation rates were 66.1% and 62.5%, respectively.

My apologies to the gang at HotAir.com for quoting the crap out of their article. But, this is warranted. There’s more:

Update (Steve Eggleston): I have a couple quick points. First, on the “not in labor force” front, it is a seasonal phenomenon related to year-end retirements, and in the case of January, the implementation of new population controls. While the 360,000 additional people not in the workforce compared to December (on a not-seasonally-adjusted basis) is a larger add than the last couple years, it is actually lower than the average December-to-January change since 2000.

The future isn’t very bright. The January Challenger report released yesterday noted that announced job cuts surged to 75,114, the highest monthly total since July 2015 and the highest January total since 2009. The report also noted that there were 8,362 announced hiring plans last month, the 2nd-lowest January total going back to 2011.

Donald Trump might be a bit too populist for some and might be seen as a loose cannon by many. However, there is one thing that he is absolutely right about and that is that we are not on a good path as a Nation and because of that, we are dragging the World economy down with us. Something has to change and there are many disagreements about what is to change and how it is to change. However, the one clear fact that I believe everyone can and will agree on is that the path that we have been on, in this Country, for these may years, dating back to the beginning of the George W. Bush Administration and maybe even the Bill Clinton Administration; cannot continue. Otherwise, the United States of America is going to find itself in a very bad place.

Here is hoping that there are people elected that can figure this out and make the needed changes, without causing many innocent people to suffer as a result.

Oh, Wonderful: World economy trapped in ‘death spiral’ says Citigroup

Oh joy… :roll:

The global economy seems trapped in a “death spiral” that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi strategists have warned.Some analysts — including those at Citi — have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S.”The world appears to be trapped in a circular reference death spiral,” Citi strategists led by Jonathan Stubbs said in a report on Thursday.”Stronger U.S. dollar, weaker oil/commodity prices, weaker world trade/petrodollar liquidity, weaker EM (and global growth)… and repeat. Ad infinitum, this would lead to Oilmageddon, a ‘significant and synchronize – Source: Citi: World economy trapped in ‘death spiral’

Makes you want to go right out and spend a bunch of money, doesn’t it? :roll:

U.S. adds 173,000 jobs in August, unemployment at 5.1%

I guess this is supposed to be good news:

WASHINGTON (MarketWatch) – The U.S. economy created a modest 173,000 new jobs in August to mark the smallest gain in five months, but the unemployment rate fell to 5.1% from 5.3%, the government said Friday. That’s the lowest level since April 2008. Economists polled by MarketWatch had expected a gain of 213,000 nonfarm jobs. On the more positive side, employment gains for July and June were revised up by a combined 44,000. The Labor Department said 245,000 new jobs were created in July instead of 215,000. June’s gain was revised up to 245,000 from 231,000.

Source: U.S. gains 173,000 jobs in August; unemployment 5.1% – MarketWatch

To be honest, until I see massive hiring everywhere, for good paying jobs and some protection for people like me; who haven’t had a job in ages — I really do not feel this news to be of merit. I haven’t worked since 2003 and had a long term job since 2000. So, this news means nothing.

Not to mention that the growth is paltry.

 

So much for that economic recovery! 

So much for the recovery promised by President Obama eh?

The economy got off to an even weaker start this year than first thought, the government reported Friday, as economic activity contracted amid a disappointing trade picture and continued caution on spending by businesses and consumers alike.The 0.7 percent decline in economic output in the first quarter of 2015 was a reversal of the initial 0.2 percent advance for the period reported last month by the Commerce Department.While statistical quirks and one-time factors like wintry weather in some parts of the country played a role, as did a work slowdown at West Coast ports, the lackluster report for January, February and March underscores the American economy’s seeming inability to generate much momentum.Source: U.S. Economy Contracted 0.7% in First Quarter – NYTimes.com

One thing I feel the need to write about and correct is this; Ed Morrissey over at the neoconservative blog, HotAir.com says the following:

Get ready to hear a lot about supposedly harsh winter weather in supposedly the warmest year on record, and port closings in a period where imports seemed to have no trouble coming on shore.

 Allow me to share something with you; I recently applied for a got my sales tax ID. I am back in the business of selling 12 volt electronics, mainly for cars. One of the other things that I can get are 10 meter mobile amateur radios. Well, one of the brands that I can get are the Ranger line of 10 meter radios. Well, this is what I see, when I log on to one of my many supplier’s website; they’re all out of stock:

rangeroutofstock

Because of a labor dispute, the radios for this company are super slow about coming off of the ships. If Ranger has product on these ships; so do others too. So, the story about import slow downs due to labor disputes is very true; despite what some neocons want you to believe. :)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The problem is, it is not just this supplier; it is all of them and I am told the next time that Ranger is going to try to ship any, is in July. Now, this really does not bother me; because this stuff is not my main line of sales. I am more into the car stereo end of things. But, could you really imagine being heavily invested into the CB/10 meter end of things and have a huge customer base and then find out that you cannot get this stuff? Ouch.

So, Ed is wrong about the part about imports, there is a labor dispute going on. They are working without a contract and thus the slowdown. This all plays into the status of the economy. Also too, inflation and globalism all play a part into as well.

Others:  Wall Street Journal, White House.gov Blog, Truth Revolt, Outside the Beltway and The Week (via Memeorandum)