William J. Polley has made the Suggestion that We will have an uncomfortable Weekend, which could extend into an unenviable Year. The 191k knockdown from the monthly Job claims when there is a total Employment of 138.1 Million is not a serious concern in itself, especially after consideration of only 7.6 Million Unemployed. My Concern consists of the fact of about 4 Million hidden Unemployed not caught by the aggregated numbers, and an Underemployment number focusing around 22 Million. These Numbers are far more worrisome, as they could only increase with Recession, though I must say I think We have already passed the Recession stage. I would also state that no Stimulus Package is likely to affect the Numbers I cited.
Employment Numbers bad, Chinese inflation is up, and the Oil companies profit at Record rates. The Whole is enough worry even the Childish, and I am feeling particularly Bratish this morning. I could really enjoy federal legislation insisting on a mandated retention of the Oil Profits for the express purpose of locating future Reserves; well, maybe a little Alternative Energy research as well. I just wonder at the practice of paying off Found and Drilled Reserves so well, most of which have been producing since Oil was $30/barrel. Does that make Me sound like a Miser?
This should explain the Mood I am in today, as I agree with an amazing amount of the material written here; and no, I am not a Conservative in Pink Tights! I simply desire the Reader to understand the basic Unrest which has shaken the American economic structure, and the ideas expressed may be too extreme for an Economy still statistically growing, if you ignore the 4% Inflation rate. I just hope the Fed is smart enough not to pump Money into an Economy which has lost its Growth fundamentals. lgl
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