New jobless claims ticked down a bit? And why are people eating so much and buying clothes? Not everyone can make the cover of Vogue folks. Come on, this is the end of the world to hear Obama tell it.
Feb. 12 (Bloomberg) -- Sales at U.S. retailers unexpectedly halted a record six-month slide in January, reflecting higher gasoline prices and more spending on items such as clothing and food.
The 1 percent increase followed a revised 3 percent drop the prior month, the Commerce Department said today in Washington. Purchases excluding automobiles gained 0.9 percent.
The labor force has grow by half since 1982? Doesn't that make these numbers less severe than 1982's, ... when we didn't mortgage our children's future to survive?
In slightly better economic news, the Commerce Department reported Thursday that retail sales jumped 1 percent in January, reversing six months of decline and defying expectations of a 0.8 percent drop.
The rise in sales follows a 2.7 percent plunge in December, which marked the weakest holiday selling season since at least 1969.
The 631,000 new jobless claims filed two weeks ago was the highest tally since October 1982, when the economy was emerging from a steep recession, though the labor force has grown by about half since then.
The recession of the 80's do not fit into the Dems and obamas template, no gov spending to cure it, tax cuts and tax reform took care of it then.
Posted by: 13yankeebravo | Thursday, February 12, 2009 at 11:50 PM