Read the article - its chucked full of economic activity data including unemployment figures.
Long story short, there is some minor improvement, still plenty of messes, and a sense that the bottom is here or near.
Reuters: U.S. durable goods orders rise, jobless claims ease
New orders excluding transportation climbed 0.8 percent in April after declining 2.7 percent in March, boosted by orders for communications equipment, machinery and fabricated metal products, the Commerce Department said.
In another sign of the bleak housing market, one out of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process...
3 comments:
It's really pathetic that the banks and many of the other legions of weasals that caused this are escaping without a scratch , but the homeowners are bearing the full brunt of this fiasco on top of paying for it again as taxpayers. This is backassward. Rewarding the villians is a really bad move on the Gov't's part no matter what the reasoning in the short term. What's to stop these same characters from just doing it again? As for regulations , where are they TIM? My guess is when all is said and done it will be even easier for the pirates and vandals to do this again. It's obvious Wall st. owns DC.
I'm with you on the banks, and I think most people are onto it as well. People go to major universities and they have refined intelligence that they will use to exploit the business rules. They find the loopholes, invent the practices that circumvent the standards. There should be no doubt in anyone's mind that there will be a repeat of this type of thing. A few very highly educated, smart individuals with virtually no concern for anything other than their immediate power and wealth accumulation, will do it all again. Its a guarantee.
Locks only keep out honest people. Thieves just break your window and walk in. So it will be with this so called reform. It's worse we'll allow the thieves to to place the locks and decide the combinations beforehand. Then after they've divided the loot with the pols that put them inside the cycle will start over again.
I'm afraid my friend we are now operating under what I call the WC Fields rule. "Never give a sucker an even break."
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