$$$TELETYPE$$$ During the last week of July there was chatter regarding deflation and worries it could happen in the USA... ...Real Estate Agents in the Carolinas are telling homeowners trying to sell that it may take 8 years for market recovery in that area... ...banks seem more reluctant than ever to loan money to individulas for purchases of homes and new cars...
Dow Repeats Great Depression Pattern... The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression, Daryl Guppy, CEO at Guppytraders.com, told CNBC earlier this summer..
The United States remains trapped in depression a full 19 months into zero interest rates, quantitative easing (QE), and fiscal stimulus that has pushed the budget deficit above 10pc of GDP.
The share of the US working-age population with jobs in June actually fell from 58.7% to 58.5%. This is the real stress indicator. The ratio was 63% three years ago. Eight million jobs have been lost.
The average time needed to find a job has risen to a record 35.2 weeks. Nothing like this has been seen before in the post-war era. (*source: UK Telegraph)
So, what may be in store for our wallets and pocketbooks?
The latest quarterly AP Economy Survey shows economists have turned gloomier in the past three months. They foresee weaker growth and higher unemployment than they did before. As a result, the economists think the Federal Reserve will keep interest rates near zero until at least next spring.
Yet despite their expectation of slower growth, a majority of the 42 economists surveyed believe the recovery remains on track, raising hopes that the economy can avoid falling back into a "double-dip" recession.
The AP survey compiles forecasts of leading private, corporate and academic economists on a range of indicators, including employment, consumer spending and inflation. (Details)
READING IS KNOWLEDGE! THIS IS WHY BLOGGING IS IMPORTANT AS EVER IN 2010!
More reading ::: via TigerHawk - Coincidences in our time: Finreg becomes law, and the SEC settles with Goldman Sachs ... Could we be headed for a new credit crisis???