James Hamilton expresses some doubt about what the gathered economic information tells Us; I tend to trust his graphics more than he does. We have Cash for Clunkers, and auto sales only about two-thirds normal. We are about one million Jobs away from a sustainable decreasing Unemployment rate. Disposable Income is evaporating into new Cars, still non-necessary if the program propelled them to actually purchase early. Government Spending has made the NAPM index artificial, without which We would still be at the low point of the chart. Reality might state We are still wandering in the Swamp, having not even found the few trails through the morass. We need less Spending, and more Judgement, while focusing on Job Creation. We really can’t afford a Jobless Recovery.
I present this boring tract for the Reader, though you will feel somewhat ripped off yourself, unless you are into the minutiae of banking. Bankers should not be empowered to resale your mortgage in the first place; limited to selling a Part mortgage on their own institution, based upon a combination of assets and liabilities of the borrower bank proscribed by regulation. These should be a combination of collateral–a percentage of Bank stock, a percentage value of the profitability of a list of Demand deposits, and the paying mortgages for which replacement Cash is desired. This has the desirable effect of retaining the borrower banks within the risk field throughout the length of the mortgages in question, with high desire to achieve full repayment of all mortgages. I am not a banker, though they tried to make me one once. I still am assured that my program of action will maintain the identity of all Participants throughout the trail of financial transactions. I doubt if anything else will, and one cannot achieve responsibility without accountability.
I provide this link to show the Reader that Canadians suffer about the same attrition as does the United States, and Gordon like Hamilton, has the will to actually publish hard statistical data. So Few do in this era of bad Numbers. I feel heartened by the efforts of A Few Good Men, who will tell the Internet that the few Green Shoots happen to be Weeds. I will stick to Words, as Statistics are not my forte. Words can be disbelieved, but so can Numbers; yet Wage losses are hard to deny, and We will still have plenty of them (not an advance Warning about the Unemployment report coming out). Hamilton mentions that it takes a quarter million Jobs per quarter to reduce Unemployment increase to zero. I would mention that it would take some 24 such quarters to get Employment back to previous Record. We need something which will generate 2 million new Jobs per quarter, and no one knows what that could be. Maybe Canada should declare War upon the United States to ramp up Production–like the old movie! lgl