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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Neil H who wrote (79068)	7/4/2010 2:20:44 PM
From: tejek	Read Replies (1) \| Respond to of 149317

Re: Bullish signs - Lots of spin out there and for good reason. Here is a look behind the scenes at some of the numbers and the picture is not so pretty. As this site or my copying skills do not take the graphs (which are many) I will also link to the site which you can read the whole letter for free by entering your email. This guy is a good read but usually on the pessimistic side, but supports all his thoughts with facts. I already know that the employment picture is not good. Employers have been reluctant to hire more people....slightly worse than normal. Instead, they are adding overtime. I think its a testament to the severity of this recession. People are still afraid. Both our banks and gov't failed us........its clear that both can be screwing up and we are the last to find out. At the same time, your article doesn't point out that typically BLS understates its numbers because it is estimating changes. Frequently there revisions are up, not down. A year and half ago, economists were wanting a bigger stimulus. Many Rs and Dems refused to go with the higher number. Some Rs and Dems didn't even want to go with the lower number. It seems the economists were right back then. Having said that, I still think we will come out of this mess albeit more slowly than expected. Restarting construction of a TM plant in MISS and GM not closing down plants for vacation are definitely positive signs.