Retail sales fall unexpectedly; jobless claims up
Retail sales drop 0.3 pct in December, plunge for year; new jobless claims rise
WASHINGTON (AP) -- Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.
In another disappointing economic report, the number of newly laid-off workers requesting unemployment benefits rose more than expected last week as jobs remain scarce.
Still, many economists, puzzled by the retail sales decline that follows reports from retailers of brighter holidays, cautioned that the December figures don't necessarily signal a big consumer pullback and could be a blip.
http://finance.yahoo.com/news/New-jobless-claims-rise-more-apf-1551827594.html?x=0&.v=6'Puzzled economists?' HAHAHAHAHAA!!!!! How 'bout 'economic idiots?'
There cannot be an economic 'recovery' without job growth...ain't gonna happen. 'Deepest recession in seven decades?' Someone sure doesn't want to use the 'D' word.
Record year for foreclosures as unemployment rises
MIAMI (AP) - A record 2.8 million households were threatened with foreclosure last year, and that number is expected to rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages...
Stemming the tide of foreclosures is an important step for the real estate market and the economy to recover...
The same three states that led the nation in foreclosure rate in December also posted the highest rates for the entire year: Nevada, Arizona and Florida. More than 10 percent of Nevada housing units received at least one foreclosure filing in 2009, with Florida and Arizona following with about 6 percent each.
The other states ranked in the top 10 for the year were California, Utah, Idaho, Georgia, Michigan, Illinois, and Colorado.
http://apnews.myway.com/article/20100114/D9D7AN7O0.htmlAgain,...no 'recovery' without job growth.
Is America's financial collapse inevitable?
Patrick J. Buchanan
...The five largest elements in the budget are Social Security, Medicare, Medicaid, defense and interest on the debt.
With interest rates near record lows, and certain to rise...this budget item has to grow and has to be paid...
Second, with seniors on fire against Medicare cuts in health-care reform, it would be fatal for the Obama
Democrats to curtail Social Security or Medicare benefits any further this year...The same holds true for Medicaid...
This leaves defense...
http://www.wnd.com/index.php?fa=PAGE.view&pageId=122030Even if the impossible was achieved, and our military 'killed' everyone who 'hates' us, the Pentagon would immediately 'create a new enemy to fear.' Their budgets won't be cut, no matter what. We're like the gambler who's 'in too deep' to stop now. If anything is to stop the 'inevitable financial collapse' of our country, it will be the military takeover of our government and the installation of a police state.
