The Observation Deck

While some of us might depressed with the news that a record number of homes are in foreclosure, over 1,000,000 nationwide.

Or a little depressed with the thought that a record number of car loans have also fallen into default, and repossession.

We can at least smile and relax knowing that 5,000 yes that is right Five Thousand jobs were created nationwide last month.

Shall we debate recession, depression, or going third world together?

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Jim this is what I read.....

"The U.S. economy shed 63,000 jobs in February, a far weaker result than analysts had been expecting and marking the worst month since March 2003. On average, economists were looking for an addition of 23,000, according to a Bloomberg survey.

With the decline, employment has contracted for two straight months and provides the latest evidence that the domestic economy is continuing to slow. The Labor Department, which had initially reported that 17,000 jobs were lost in January, now says the figure was in fact 22,000. Also, December's gain of 82,000 was revised down to 41,000. The unemployment rate last month fell to 4.8% from 4.9% in January."

By the way 38,000 government jobs were added in February. So in actuality 101,000 jobs were lost in the private sector.

And how is it that jobs were lost yet the unemployment rate actually dropped? Because of an increase in the number of "disaffected workers." Folks who have completely given up finding employment and are no longer even looking. These people are no longer considered unemployed by our government statisticians. But they don't have jobs.

Maybe today I'll try to write about how inflation statistics like the CPI are so thoroughly manipulated as to be virtually meaningless.

that is a good idea about the CPI Tim. If it explains how the cost of living and requirements of living have gone up it could institute a wave of grass roots and civic reforms that return most nuclear families to 1 person incomes. Unemployment would be lower if fewer people were seeking jobs. Gains in productivity theoretically means more households should be thriving on a single full time income, and that the breadwinner should also have more vacation time than 30 or 40 or 50 years ago. that is the implication of the ideas anyways.

OK Ryan here you go. Some fun facts about CPI manipulation....

1) “Substitution Effectsâ€

that is very interesting, Tim.

I was flipping through different editions of a book called "The value of a dollar" at the library recently.

50 to 60 years ago, spending the night in a hospital cost most patients less than 1 percent of an average yearly income for most workers in most sectors. and most people didn't have "health insurance" back then. The comparisons on the cost of education were nearly as daunting. It is weird how the numbers stack up as time goes by.