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Statistics Prove Recession is here

By Mike Fak(18,246) Mike Fak

Posted Friday, April 25, 2008
View All Blog Posts submitted by Mike Fak

For the past several months we have heard politicians and pundits and so called financial experts say we; might be in a recession, could be headed for a recession or face the possibility of a recession. Well, I’m here to tell all you high priced, flagrantly inept experts that the recession is here whether you care to admit it or not.

The statistics tell the story. New homes sales in March plunged to their lowest level in almost 17 years. Manufacturing orders fell for the third straight month which hadn’t happened since the 2001 recession which was a baby compared to what this monster might develop into. We weren’t being gouged by oil producers back then and everything dealing with inflation is tied to oil. Food and durable goods are rising rapidly because of costs of transport. Airlines are failing due to fuel consumption costs and retailers are cutting employees and closing stores to make their bottom lines profitable.

New unemployment claims dipped slightly but anyone with a brain knows that isn’t the statistic to use to judge job strength in the economy. People who lost jobs and had to take lesser paying ones aren’t factored into this category. People who are business for self an ineligible for unemployment and they are left out of this statistic. Let’s not forget all the people who fell off the rolls because their time for benefits had expired but they still weren’t working.

The real statistic as to how many Americans don’t have jobs isn’t even kept with numbers ranging from 13% to 22% depending on who you choose to use as a source. One real world statistic the Labor Department does keep is new layoffs and this March was the highest number of layoffs in five years. It should tell you right there that the numbers get skewed. The highest number of layoffs in five years but unemployment claims go down. It doesn’t add up does it?

The prices for gasoline, heating oil and electricity have gone up in near catastrophic proportions this past year but no one in Washington gives those damaging numbers anything more than a brief talking point about how we need to develop a strategy. It’s a little late for strategy. It’s time someone did something.

The President refuses to see the reality, stating just yesterday that we weren’t in a recession but in a temporary slowdown. Maybe the President and Congress should catch the news article that tells us more than any other bit of bad news that we are in hard times. Not only in America but around the world.

Both the Sam’s Clubs and Costco have announced they are limiting purchases of bags of white rice to four per customer. Although the stores didn’t state if the control of sales was due to shortages or hording by American families just the headline should tell us all something. Where else except in a report by a third world nation, have you ever heard of sales of rice being rationed at stores.

The recession is here. The problem is we can’t fix it until people stop being cowards and admit they have failed and need to change policies and direction. Things are far from hopeless. We can get out of this crisis with firm and specific direction and goals. But first everyone in politics needs to stop believing it is better to cover for their political party’s failed policies then to admit their failures and work to fix something both parties broke.


This Blog Post has been read 202 times.
Posted to ProBlogs.com on Friday, April 25, 2008
View other posts by Mike Fak

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