8/29/08 WASHINGTON (Reuters) - Personal income tumbled unexpectedly in July and inflation-adjusted spending shrank at sharpest rate in four years as the lift from government stimulus checks waned, a government report on Friday showed.
A big jump in prices pushed inflation to a 17-year high, the Commerce Department said, eroding what little spending power consumers had. The report suggested the economy's stimulus-related momentum was fading after a surprisingly strong second quarter.

"With the tax refund effect on spending now more or less over, we think the worst is yet to come for consumers," said Ian Shepherdson, an economist with High Frequency Economics in Valhalla, New York.
http://news.yahoo.com/s/nm/20080829/bs_nm/usa_economy_income_dc_5
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http://www.realclearpolitics.com/epolls/2008/president/us/general_election_mccai n_vs_obama-225.html
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Call it what you will. I call it Bush's last gasp. You can't just dole out a few hundred bucks to the masses and expect to save a shrinking economy when you continue to spend billions of dollars supporting a war effort that is misdirected and mismanaged in combination with huge tax breaks for the largest corporate players in the game. A stimulus package will only work if it's in combination with changes in other economic mechanisms, not proposed by the Republican platform.

This fact alone weighs heavy on the coming election. Sure, there are those who are social issue voters, but all research indicates that they aren't significant in numbers.

Clearly the Republicans and their approach to governing under these erroneous policies have little chance to hold on to the electoral votes they've had in recent elections. The GOP has been behind in polls in several key swing states for months, and there is little to suggest that will change.

http://www.realclearpolitics.com/epolls/2008/president/pa/pennsylvania_mccain_vs _obama-244.html

http://www.realclearpolitics.com/epolls/2008/president/mi/michigan_mccain_vs_oba ma-553.html

http://www.realclearpolitics.com/epolls/2008/president/wi/wisconsin_mccain_vs_ob ama-549.html

The greatest feat of the GOP is that they continue to persuade people to vote against their best economic interest.

Like my Mom always told me, "There's a sucker born every minute and two to take 'em."

9/4/08 NEW YORK - Wall Street tumbled Thursday, sending the Dow Jones industrials down nearly 300 points on more disappointing economic news: Sluggish back-to-school sales and a jump in unemployment claims.

The stock market has been highly volatile lately, reflecting investors' anxiety about the overall state of the economy. Market participants were further unsettled Thursday when many of the nation's retailers said shoppers curtailed spending last month due to higher gas and food prices. Wal-Mart Stores Inc., the world's largest retailer, beat expectations, but many teen retailers and luxury chains did poorly.

Meanwhile, the Labor Department said new applications for unemployment insurance rose by 15,000 from the previous week. That broadly missed expectations for a fourth-straight week of declines.

"The initial jobless claims number was higher than expected," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams. "Everybody is worried about the unemployment number out (Friday). It's just a perfect storm."

The market showed little reaction when the Institute for Supply Management said the service sector grew unexpectedly in July for the first time in three months as new orders increased and inflation moderated. The August reading of 50.6 was higher than the 50.0 expected, and the reading of 49.2 in July; but the sector's edging above the threshold between contraction and expansion was hardly a sign of a robust economy.

And investors are not expecting any promising news in the Labor Department's August jobs report on Friday. Economists are predicting the eighth straight monthly payrolls drop, and a rise in the unemployment rate.

With economic data still coming in spotty, Wall Street's hopes for a late-year economic rebound are all but dashed — and with the Dow down more than 15 percent for the year so far, investors don't appear to be holding out for a significant upturn in stocks, either.

Voting your wallet

Exactly!

Once my wallet is secure, Then I'll hop on a cause or issue....

The issue, Roger, is the economy.

McCain/Bush: The economy basics are in good shape.

Everyone else: Bullshit! The economy is in the tank.
Google "layoffs" or look at non military corporate profits.

The GOP has killed the economy through bad policy, bad management, bad karma and no common sense.

Now, they want the country to re-elect them into power again.

It's not going to happen. Although the GOP has starved funding for education since 1994, and to some extent that has yielded a sub par level of intelligence in the current generation of youth turning adults, it isn't going to be enough. Too many people got taken in by Republican horseshit last time around '04, but '06 was just a taste of what the results will be this time.

The American public is fed up with Republicans, conservative dogma, and the sheer stupidity of George Bush. They won't be fooled again!

Stay tuned for the jobs report tomorrow. Anybody think the traders today got a whiff of that report today?

The expectations for the month are a loss of 75,000 jobs. And keep in mind the US needs to create 125,000+ jobs per month just to keep up with population growth. So a loss of 75,000 puts us closer to 200,000 in the hole for the month.

Look for the unemployment rate to go over 6% tomorrow.

Can't wait to hear the data McCain trots out to highlight the "strength" of the economy.

You seem to think I am riding in the McCain KLOWN KAR.... I made 4 grand last year and am looking at 3,500 this. AT least I am holding on with the company and not yet canned though they have been promising better times for two years now.... things are supposed to jump in FEB heard that before.... And yes I have hit everything and been everywhere. Spent more delivering pizzas than I made. hoping for some seasonal retail, but with the economy so far down how much EXTRA hiring will they do? Media companies have sub par techs on the tv and no radio. Sucks to know you can deliver a better performance, but still they go with the kidz. BIG reason wife wants to get us out of here and get home to fam and friends. But Not much going on there either is there?

Sorry, Too many promises from too many politicians for too long, so excuse me for not embracing the dynamic Obama as the magic cure.

3 or 4 years from now I will be more than willing to say you fellas were spot on should things go well, and applaud Mr.O for a job well done. For me, I want to see the show before I pay for the ticket!


Now on the other hand,

So what happens if he blows it, then what will you say?

Well, we could say that on the fencers like you didn't put up when it was needed to get him over the top!

Seriously, what's the harm Roger?

So it sucks huge right now.

What? Are you gonna no-vote, stay home this year?

Doing that gets you what exactly? I'm sure it's something, but is it worth not taking a shot?

Obama isn't the magic cure. The real cure for this crap is some movement on a different path, and involvement enough to over come the inertia we are seeing right now.

Things continuing to suck, should Republicans get elected, is near certain outcome, meaning a Republican vote makes almost no sense right?

Now, there is a shot at some change and having that change do some good. Obama is saying some good stuff. Have to admit that, right?

Why not roll the dice then?

It's a smart wager!

All it costs is a bit of time, and if things are sucking, you've got that like everybody else does.

$4000 last year? I made $4000 this week. Not to be harsh, but if you are an able-bodied person, you are not trying hard enough. I have a client that makes more than $4000 a year collecting cans for recycling (he's also employed as a garbage man, but makes the effort to cash in on those that choose not to cash in their pop/beer cans) A minimum wage job in Oregon would gross around $16K per year. There are thousands of jobs available if you're willing to do the work. It sounds like you're too full of excuses and too light on motivation.

Wasn't it McCain that said our economy in America is strong?

I am proud to say I have never flipped a burger at a fast food joint in my life. However if I really need some income I suggest Burgerville. They're locally owned and after 6 months on the job if you're working 20 or more hours a week you receive health care for $15 a month. Full timers pay $30 a month. They want to keep their employees around because having to retrain costs money.

Plus if you're into sustainable practices Burgerville is setting the industry on its ear. Eric Scholsser the writer of Fast Food Nation calls Burgerville "the real thing."

Tom Mears who was the CEO for many years and recently stepped aside to help start the fast food chains parent company The Holland Inc, is a member of my church. He's a man of high integrity and a visionary and truly cares about the well being of his employees.

Like Vitalogy my wife and I have been blessed with a good steady income with work we enjoy and love. But sometimes you have to take mini-steps to get to where you really want to be.

Just my 2 cents take them for what they are. Trying to be encouraging.

"if you're working 20 or more hours a week you receive health care for $15 a month

Heck, even some union outfits don't get this. Thumbs up to Burgerville's labor practices as always.

Not to be harsh, but if you are an able-bodied person, you are not trying hard enough.

Sort of a blanket swipe at older workers here, eh? Outsourcing and downsizing hurts older workers hard. At this time in their lives, retraining to do physical labor ain't gonna fly. Even if they are extremely motivated, they are shut out of a considerable amount of job openings -- deliver mattresses for Sleep Country? I think not.

...."What? Are you gonna no-vote, stay home this year?"

Haven't missed an election or primary since I was old enough to vote. The Boosh Gore mess and Washington state's last GOOBER natorial election ought to prove that EVERY vote counts and those that sat out could have made a difference.

As I've stated, I absolutely HATE the nastiness aimed at both candidates. the garbage being spewed from the party kool-aid sippers, the Rush Limb-nuts, and his contemporaries on the other side, bloggers and posters, kind of clouds the issues. So, I'll do what I always do, wade thru the muck and slime, try to pick out what I believe a candidate can actually accomplish as opposed to what they are promising, then make my decision. One reason I visit various websites is to read what REAL people have to say. I value opinions posted by the general population: Intelligent guys like yourself, more than blowhard multi millionaire talk show hosts, and obviously biased commentators. I expect nothing from the "I approved this message" blubs that populate the airwaves, and dismiss any one that doesn't concentrate on their own agenda but rather tells me why the other guy sucks. I don't want an Obama commercial to mention McCain nor McCain to tell me Obama isn't ready to lead. Tell me why YOU ARE. STICK TO WHAT YOU ARE GOING TO PRODUCE NOT WHY THE OTHER GUY ISN"T READY!

So when a guy like you posts I like Obama because..... I give that some serious thought because you are a working stiff juggling the bills just like myself. When groups like the hollywood elite, continue to throw support to who they perceive to be the furthest left candidate, or the dittoheads the furthest right, I find that extremly troubling from a standpoint that they get so much media attention. NO fricking so called news or infomation program should ever mention what Rush thinks as a talking point. Nor should any "celebrity" use their own forum (oprah) to push their personal choice whether blatant or subliminal. I'm interested in YOUR opinion. Don't give a rats ass what George Clooney or Janine Garfaolo thinks.....

When a thread degenerates into half truths, undocumented rumor, unrelated personal info, and just plain pissy meaness, like Mc Same owns 58 houses and will send troops into IRAN; He's part of the group that allowed Karl Rove to instigate the Georgia/Russia conflict to keep oil prices up for his cronies, Sarah had a secret affair, Biden had hair implants, Barrack was born in Kenya, he's a coke head, his wife was a symbionese liberation army sympathizer and any other off the wall made up stuff that is unsubstantiated, then I kind of question whether a candidate is valid if the best that a regular Joe can come up with is bags of poopy about the one they DON'T support.

Last time out I was more sypathetic to Kerry NOT for his proposals and ideas which I found less than appealing, but rather because the BOOSH machine spent all their time undermining him rather than pushing their own agenda. Prior to that, Gore offered NOTHING remotely interesting, BOOSH was just flat the wrong person for the job, and I went third party.

So you can list all the reasons you like Obama, even better if you can add at least a small nod to something the other guy has to offer as well.

ANYONE who can say that ONE SIDE HAS ALL THE ANSWERS and THE OTHER GUY DOESN'T HAVE ONE VALID POINT, might as well not vote. I see too many people that don't even need a name on the ballot, they just look for the D or the R.
Actually, for me, one candidate has some solid ideas, but can they deliver, or will it be like Hillary and Bills first attempt at health care Pushed...Killed...Forgotten...
Then I like some ideas from the other guy as well, but do the things I don't like outweigh them?

Finally can the next President actually work with congress, or is the House and Senate going to continue on with their own agendas. If Obama is the candidate for change, Then shouldn't we continue the ground swell and clean house in congress as well? Will people get fired up enough to sweep out the status quo across the board?



I have eight weeks to be swayed. I'm going to use them all.

Heh..

For me, it's not at all about who has all the answers, but who is using what process.

Nobody has THE answers! There are only choices.

Choices range from great to shitty.

At this time in life, Obama is making some really great choices. He's making more great choices than shitty ones. FISA was shitty. Pissed at him for that still. Deciding to largely take the high ground and engage the people at many levels are great choices.

I like the process he's using. I like it because we make better choices when the dialog is at many levels, not just top down. I like it because that, combined with taking the higher ground, forces people to consider what really matters and when they do that in the aggregate, we end up living with far better choices than we would, if only a few people are doing that.

McCain isn't using that same process, so it really does not matter what HIS answers are. The primary thing is that he has the PROCESS wrong.

Let's be totally fair and say his choices might be great ones. Could happen.

I think the likelihood of that being actually true is considerably lower because of the process problem.

And that's why I wrote it's a smart wager!

I'm going full ticket this year. Yep. Looking for the D, double checking the names, just to be sure a few asses didn't slip in, then voting the ticket full on.

Would be nice to see some new blood in Congress too. That's only gonna happen if we see more primary challengers.

Have written about that many times. There are progressive Democrats pushing for more and better Democrats. That's how it's done. I'm seeing the results of that with new people like Webb and Tester, both of whom engaged people at many levels, had good grass roots campaigns and won their races.

They've done some good stuff too. Webb, pushed hard for the GI bill improvements and got them. There are other examples.

If I were you, I would network, phone bank, go knock on some doors, do something after you get motivated some how.

The contacts you make just might help with employment as much as it will help move that better process along nicely enough to cement it for our benefit for a few years.

"skep sez "Sort of a blanket swipe at older workers here, eh?..... "

Exactly! As for taking Whatever... that is always on the table. The only issue is the law of diminishing returns. While I am readily willing to drive the five miles to suck up my pride and work Mickey D, I'm not willing to drive 60 miles to do it.

VIT....

yeah, I'm able bodied, but not as strong physically at 50+ as at 20+....
My first job was in a factory at 15 1/2 doing work that violated child labor laws. Pumped gas, flipped burgers, sold cars, was a census taker. Did what ever I could do, while focusing on a specific career. Was a Mr.Mom while the wife got her degree. Got me two of them kollege DEE-GREES myself so I wouldn't have to do the crappy jobs any more. Hey that's what my industry wanted. In the 80s companies were using education as a screening tool not as an actual requirement.

Gee we like you if only you had a tech school certificate. but I have experience.

ok got it.

Gee if only you had a two year degree. but I have experience and trade school.

ok got it.

gee, if you had a bachelors we would bring you in.
uhh, I have experience and eduacation....

ok got it.

Wow so many people with college degrees, we have 50 apps for one opening.....
Starting to seem like a scam.....

ok so the job hunt is now a lottery draw.

SO the career choice might as well have been horseshoe maker, or covered wagon repairman.

The fact is in a slowing economy there are far more people applying for burgerville and other entry level places than openings. With all things equal, do you honestly hire the 18 year old, or the 51 year old with the business admin and radio and telly degrees at 7 bucks an hour?

So when you accidently omit some of the educational stuff on the app, is the 51 year old an attractive choice?

Then again your response was pretty generic in nature as was my answer. But each area of the country is different... some areas stronger than others. here it absolutely sucks but the upside is cheap housing for anyone moving in...(almost none) plenty getting out though....

Don't know how old you are...

However, when I get an response like yours I always say this.... If you think it a motivation issue try this.....

On your day off make the rounds pick up apps from the local fast food places and other "ANY JOB" type place. fill them out and drop them off at your convienence. See how many calls you get. The younger you are, the more offers you will get. Now this costs you nothing but a little time on your off hours, and since you are fully employed you aren't under obligation to take an offer. You will see that your response was a bit flippant. If you are 50 or older you will get almost no response. AT the very least you will then be able to speak from experience.

NOW, if the economy is so great that even a lazy, unmotivated guy like me can go out today and get A JOB if I really wanted one, No need to vote for change. That BOOSH fella must be doing fine, so we might as well stay the course with 4 more years of McSame and Booshs 3rd term. Why rock the boat and change course with an unproven 1 term senator with no management experience........

So, which way is it?

I can remember some of those $4,000 weeks myself that was a good week as a car manager. Of course to be fair there were plenty of 100 dollar weeks as well. Betting the car guys are seeing alot more 100 dolar weeks now than 4k weeks.

We can surely not see eye to eye on things but DON'T call into question my personal traits unless we have met or been aquaintances for an extended period. But, since you have spit venom and made personal comments about public figures unrelated to their platform, I guess I should expect no less..........

I'm 36 and college educated. And even if I was 50+ without an education, I would be doing what it took to make more than $4000 per year. Guaranteed. But, that's just me. I'm a motivated person. I guess that's why I do well in an industry where I don't draw a salary or hourly wage and am basically self employed with company benefits.

Look, my mother in law who is 62 years old works at JC Penney for about $9 per hour. And she's a little old lady who has a British accent and is in her own world. If she can do it, anyone can.

Bottom line, either you are not trying hard enough, or when people meet you, you turn them off big time. Both of those issues can be overcome if you're willing to overcome them.

Vitalogy, you don't get it. Sorry. It's a brutal market and since whatever industry you're in hasn't been effected, don't underestimate how far there is to fall and even "motivated" people are finding brick walls between them and making enough to break even. Please check your ego at the door.

Meanwhile:


9/5/08 WASHINGTON - The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.

ADVERTISEMENT

The Labor Department's report, released Friday, showed the increasing toll the housing, credit and financial crises are taking on the economy.

The report rattled Wall Street again. The Dow Jones industrial average was down about 40 points in midday trading. All the major stock indexes tumbled into bear territory Thursday as investors lost hope of a late-year recovery. With the employment situation deteriorating, there's growing worry that consumers will recoil, throwing the economy into a tailspin later this year or early next year.

The jobless rate jumped to 6.1 percent in August, from 5.7 percent in July. And, employers cut payrolls for the eighth month in a row. Job losses in June and July turned out to be much deeper. The economy lost a whopping 100,000 jobs in June and another 60,000 in July, according to revised figures. Previously, the government reported job losses at 51,000 in each of those months.

So far this year, job losses totaled 605,000.

No Andy, I DO get it. That's why I'm in a place where I can give advice. My industry has been affected like others, some say even more. That just means I have to adapt at how I run my business. No need to check my ego. Just telling it like it is. Anybody making $4000 a year is not trying hard enough, period, end of story.

Sorry, it's just not that easy. You can't just walk away from an existing set of commitments and work a $9 per hour job that consumes 40 hours in which you can not be tending to a business that you may have a lot of time and money invested in. You have to ride it out until either things improve or you land something that by itself will equalize your cash flow.

Like I said, you don't get it. You're only 36. In twenty years when you're my age, you will realize (hopefully) that you can't walk away so quickly when the going gets rough. I agree with almost everything you've said, sans the "not trying hard enough" part.
Don't be judgmental when you've not been walking in the shoes of whom you judge. Go ahead, have the last word, but the ability to identify your own shortcomings is a sign of maturation. I've had several absolutely dismal years under the Bush administration because my most lucrative clients lost their sales due to Republican's pulling educational funding out of the budget and therefore didn't need my services to design, install and proof. If I followed your guidelines, I'd be working at the QFC bagging groceries which just won't pay the bills nor leave me significant time to find new clients, new directions, etc.
Keep doing what your doing, but don't judge others without some thought.

I am impressed by and greatly respect Roger's viewpoint on taking his time, collecting, and (most importantly) screening information on the different candidates in the upcoming election.

On the employment issue, I can share an experience that I believe to have been a serious mistake on my part. I was in a round of layoffs in 2002. I didn't find employment until 14 months later. During my unemployed time, I ran across a lot of advice, some good and some bad. One piece of advice that was bad in retrospect was to not take any part-time jobs, as this would decrease the amount of unemployment benefits that I could receive in the future. In retrospect, the unemployment benefits were small, and I think that If I had taken a part time job--even a trivial one--I could have reaped two benefits:
1) I would have something to put on my resume so as not to give the impression that I was too lazy to work or that I had specialized myself into a corner.
2) I would have had the opportunity to network to find leads to better or full-time jobs.

The difference in my situation was that I had not invested any time or money into building my own business.

My wife and I lost two full time jobs back in 91 and 92. By the time I was let go my wife was 2 months pregnant with our first child. We had a mortgage and new car payment and of course everything else. We both spent a year on unemployment and still found no full time gigs.

However just before I was fired in Nov of 92 my wife asked if she could get off employment benefits and focus on our finances and see what she could find. I agreed.

Over the next two months I would come home for lunch and at the end of my work day and my wife had small little piles of papers all over the dining room floor and table. The moment I got home she gave me about 15 minutes to make dinner and then I would listen to what she learned.

It was during this time we really buckled down financially. Created a bare bones budget, cut the fat including a life insurance policy that was, at the time, over blown. Made some other changes. To this very day, that budget remains in place even though our situation is drastically different.

Roger it's not what you make it's how you spend it. My wife and I have this ability to rise to the challenge set forth and found non-traditional methods and other creative ways to earn a living.

Alfredo is correct that taking a part time job to create some kind of income is a good idea. I know you're not out in Oregon currently but like I said Burgerville or IKEA seem to take care of their employees from what I've read and from those I've talked too.

This could be your benchmark moment work wise. My suggestions, for what it’s worth, write down what you're skilled at doing. What you're interested in and what brings you joy. Look at any hobbies you might have and see if there is a way to create income.

Since you're not being offered a job is there anyway you can create something from home? Maybe check out the National Association for the Self-Employed or other like-minded web sites. There are currently over 24 million self-employed micro-businesses in America creating well over a third of all new jobs.

Roger I think Vitalogy is actually trying to encourage you, even though it may have come across a bit rough. It sounds like you've been trying, so all I'm adding to the mix is maybe its time to be creative.

Just trying to bounce some ideas your way.

Countrywide

Bear Stearns

Fannie Mae

Freddie Mac

Lehman Brothers

Merrill Lynch

Today: 500 point drop on the Dow Jones Industrial Average

Well I guess the Shrub was wrong. The basics of the economy are not strong. When the banks can't stay afloat, though, Congress bails them out. The Feds give them money. When citizens fail, they get bupkus. Nada. Zip.

This Bush economy will prove to be the worst mis-management of the American economy in history. All because of the Iraq war, thank you Republican bastards.

It will be the same as Hoover. I guess the GOP does believe in the Robin Hood Principle. Rob from the Poor give to the Rich.