Recovery, what recovery???<\/p>\n
There’s no good news in the economic data released today<\/a>… If President Obama and the Democrats in Congress where hoping improving economic indicators would help rescue their health care reform plans there out of luck.<\/p>\n Retail Sales fell 0.1 percent last month, while new jobless claims increased to a seasonally adjusted 558,000, from 554,000 the previous week and foreclosures rose 7 percent<\/a> in July:<\/p>\n Retail sales disappointed in July and the number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week. The latest government reports reinforced concerns about how quickly consumers will be able to contribute to a broad economic recovery.<\/p>\n “There is really no positive spin to put on these numbers,” Jennifer Lee, an economist with BMO Capital Markets, wrote in a research note. “The U.S. consumer remains very weak. The jobs situation, while slowly improving, is still dismal.”<\/p>\n The Commerce Department said Thursday that retail sales fell 0.1 percent last month. Economists had expected a gain of 0.7 percent.<\/p><\/blockquote>\n France and Germany<\/a> have both shown GDP growth in second quarter while the US economy declined an additional 1% in the same period.<\/p>\n I don’t see a lot of positive signs for the economy horizon, frankly, I think Ed Morrissey’s right<\/a>, the radical policy agenda being pushed\u00a0 by the Obama administration and Democrats in Congress is keeping a lot of capital sidelines. Investors aren’t going to jump into American markets while our political leadership is hell bent pushing radical, business-hostile legislation like cap and trade through Congress.<\/p>\n Related<\/strong><\/p>\n Recovery, what recovery??? There’s no good news in the economic data released today… If President Obama and the Democrats in Congress where hoping improving economic indicators would help rescue their health care reform plans there out of luck. Retail Sales fell 0.1 percent last month, while new jobless claims increased to a seasonally adjusted 558,000, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[26],"tags":[1363,787,788,706],"class_list":["post-2602","post","type-post","status-publish","format-standard","category-economy","tag-economy","tag-foreclosures","tag-retail-sales","tag-unemployment","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-FY","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3175,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/01\/14\/train-wreck-retail-sales-fall-jobless-claims-rise-foreclosures-set-record-and-the-dollar-crisis\/","url_meta":{"origin":2602,"position":0},"title":"Train Wreck: Retail Sales Fall, Jobless Claims Rise, Foreclosures set Record and the Dollar Crisis","author":"Jeff","date":"January 14, 2010","format":false,"excerpt":"Whew, I can't believe I got all that in headline! Anyone who has read this blog for any period of time knows I'm a pessimist on the economy, in short I don't see any reason to be hopeful: Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3225,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/02\/18\/new-jobless-claims-rise-unexpectedly-again\/","url_meta":{"origin":2602,"position":1},"title":"New Jobless Claims Rise… Unexpectedly… Again…","author":"Jeff","date":"February 18, 2010","format":false,"excerpt":"Here we go again... another week, another \"unexpected\" rise in new jobless claims: The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economic recovery. Initial claims for state unemployment benefits increased 31,000\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3421,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/07\/01\/weekly-initial-jobless-claims-rise-unexpectedly-yet-again\/","url_meta":{"origin":2602,"position":2},"title":"Weekly Initial Jobless Claims Rise… Unexpectedly… Yet Again…","author":"Jeff","date":"July 1, 2010","format":false,"excerpt":"This is getting silly, it seems like every time new jobless claims rise the media uses words like \"unexpected' or \"surprising\" to describe the news... There's nothing surprising or unexpected about this week's jobless report, not after reports on plunging new home sales in May, and the sharp drop in\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3239,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/02\/25\/initial-jobless-claims-rise-unexpectedly-again\/","url_meta":{"origin":2602,"position":3},"title":"Initial Jobless Claims Rise… Unexpectedly… Again","author":"Jeff","date":"February 25, 2010","format":false,"excerpt":"Here we go again, another week and another, um, \"unexpected\" rise in initial jobless claims: The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows caused layoffs to rise. In addition, many state agencies in the mid-Atlantic and New England regions that process the claims\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3199,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/02\/04\/first-time-jobless-claims-rise-unexpectedly-again\/","url_meta":{"origin":2602,"position":4},"title":"First-time Jobless Claims Rise Unexpectedly… Again","author":"Jeff","date":"February 4, 2010","format":false,"excerpt":"This is getting ridiculous, and as predictable as sunrise... Just how many times can new jobless claims rise \"unexpectedly\" before the Associated Press realizes there's nothing unexpected about it: The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly last week, evidence that layoffs are continuing\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2976,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/11\/07\/ap-what-recovery\/","url_meta":{"origin":2602,"position":5},"title":"AP: What Recovery?","author":"Jeff","date":"November 7, 2009","format":false,"excerpt":"The Associated press has been one of the President's biggest cheerleaders but with unemployment now topping ten percent even they're asking What recover? Just when it was beginning to look a little better, the economy relapsed Friday with a return to double-digit unemployment for only the second time since World\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/2602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=2602"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/2602\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=2602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=2602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=2602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n