Items concerning the economy noted this past week.
Housing foreclosures in August rose to the highest level they have been since the current recession started. Six more banks failed. With the holidays and winter upcoming, indications are that neither the real estate nor the home construction industry will improve any before spring of 2011.
Gender pay difference. It was noted that women are now receiving 83% of the pay of a man, up from 76%. It was noted that there are more men than women looking for work. What was not noted is that this indicates that employers are jettisoning their higher paid workers.
Consumer price index up in August. Wage index down. Indicating that consumers are struggling to make ends meet.
Personal wealth on the decline. Caused by depreciation in home prices, a stagnant stock market, and interest rates so low that savings don't even come close to keeping up with inflation, even though inflation is low.
Poverty level up to 7% of American households. The highest level it has been since Lyndon Johnson was in office.
This article should not be construed to be a political statement. I hate political statements.
Barak Obama ran on a plank of "Change": when he ran for President.
His supporters must have believed that change was necessary.
After two years, though, the above items indicate that what change that has been made has been unnecessary or completely wrong.
President Barak Obama, if you can read this,
"MAKE A CHANGE THAT MATTERS!!!"
No comments:
Post a Comment