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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (23403)	2/11/2005 6:06:21 PM
From: kailuabruddah	Read Replies (4) \| Respond to of 116555

go buy three condos before they go up 80% If you can't do that, at least do your fair share of sacrificing: One of the more amusing spectacles in the ongoing circus on Wall Street occurs monthly as economic contortionists attempt to twist horrific trade reports into positive news for the American economy. Such was the case today on CNBC, as Steve Leisman and a guest described American consumption as being "a sacrifice," and American consumers as "bearing the brunt of world consumption," and of having an "obligation to consume." safehaven.com and pick up a mini mansion with an interest only mortgage: Firefighter Bruno Gonzalez, his wife and three children are moving next week into a new, $1.1 million ``mini-mansion,'' as he calls it, in Pleasanton, California. The mortgage requires them to pay only interest for the first seven years. quote.bloomberg.com

To: mishedlo who wrote (23403)	2/11/2005 6:32:44 PM
From: Chispas	Read Replies (1) \| Respond to of 116555

Ugly "R" Word - Ohio ......... ...... . ........ 12:39 PM EST Friday Poverty report: Ohioans still struggle Ohio has lost 4 percent of its jobs since 2000, with the state still sagging from a deteriorating economy that has sapped income from poor and rich alike, according to a new study. Triggered largely by deep cuts in the manufacturing sector, the state's job losses from 2000 through last year totaled 228,656, according to the report from the Ohio Association of Community Action Agencies, an advocate for those trying to escape poverty. The report, which paints a bleak picture of the state's economy, said the erosion of above-average-wage production jobs -- 139,705 manufacturing jobs were lost in those four -- has made it increasingly difficult for Ohioans. In its seventh annual "State of Poverty in Ohio" report, the group said the incomes of average taxpayers fell in 26 of Ohio's 30 most-affluent communities during the recession. That's a reversal from trends that had developed in the 14 years before the recession slammed Ohio. "During the recession, Ohio's rich have gotten poorer and Ohio's poor have gotten poorer. A falling tide sank all boats," the organization said in a study brief. Indeed, the study's researchers contend Ohio remained mired in recession into last year, saying the state's job growth has trailed the national average for a record 106 consecutive months. The nation lost 0.5 percent of its jobs during the recession, the group said. The report follows calls to pare some public assistance programs as Ohio lawmakers struggle to balance the state's budget. "Since hundreds of thousands of families are suffering across Ohio, this is no time to cut supports for our low-income families who are trying to escape poverty," association Executive Director Phil Cole said. The study also stated: * Three of the nation's 20 poorest cities are now in Ohio -- Cleveland, which tops the list, followed by Cincinnati at 15th and Toledo at 20th. * 64 of Ohio's 88 counties lost jobs between 2000 and last year. * Federal census data may have undercounted the number of poor children receiving public assistance, especially those in Columbus, Cleveland, Akron and Youngstown. Further, poverty rates likely are higher than the 2000 census reported because data was collected before the economic downturn. © 2005 American City Business Journals Inc. bizjournals.com