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_ Jobs eliminate themselves
That's right, today's jobs report not only show an anemic gain for July (just 32,000 when nearly 300,000 were being whispered around the financial centers), but the jobs that were reported in the two prior months of May and June were adjusted downward by 61,000 jobs making this the poorest economic recovery for American workers since the great depression of the 1930's. I predict that August will be reported once again with a major job surge for the economy (driven only by statistical slight of hand, but played up following the GOP/NRC). There will be much fanfare by republicans and those who question the data will be labeled as nay-sayers, pessimists and un-American, who have no faith in the American spirit and optimism.
Well, I walked down the isles of the local K-Mart store (Orlando FL) this afternoon and they were practically deserted of any customers. The Super Wal-Mart in my area is doing a little better, but the parking lots are only half filled. A new super up-scale shopping mall that opened three years ago boasting up-scale department stores such as Neumann Marcus, Lord & Taylors and numerous fashion shops that appeal to high end consumer market, are beginning to show clear signs of slowing down in my area. One would think that this segment of affluent consumers with all its generous tax refunds and earning power would be out-spending the rest of us into prosperity, at least according to Bush's trickle-down supply-side economic engine that our president is giving lessons on in many of his speeches.
Well, a gallon of milk just went up again to $3.89, when just 12 months ago after being at $2.49 for years, dairy items began their relentless monthly price climb. My company medical insurance payments increased this past April, while benefits went down and co-pays rose. My take-home pay is $100.00 less per month as a result. The cost of DVD movie rentals jumped $1.00, movie theater tickets rose $.50 last month, popcorn, soft drinks, those big boxes of candy you get in movies all went up and my favorite theater that offered two free refills of popcorn on the largest size, stopped doing that.
The stock market knows all of this and more. So I expect a major free fall in the coming months. The Bushit line will be that the economy is in a correction mode and don't be surprised if Bush actually comes our prior to the election and says, "The economy did turn the corner for some Americans and I know who they are, prosperity is just around the corner for the rest of all hard working Americans. And you know who you are!"
The overwhelming reply to that crap should be, "We know who Kerry and Edwrads are and we'll be voting for them, not you and Dick Cheney. So, do you know where the exit door is Mr. Bush? Don't let it bang too hard as you leave."
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