Improvement in the U.S. Economy?

Improvement?  I does not seem to be the case.

The last 420+ days of our economy using a diverse model rather than a focus on Wall Street
rather than where our government wishes us to turn our vision.
Click on this chart if you wish a larger version.

My point here is not to make a political statement.  I feel our government, collectively, are a bunch of incompetent fools.  Some of my other thoughts and observations can be seen here:

http://la-economy.blogspot.com/search/label/economy

During the election debates the economy was improving.  Perhaps it was the attention on the antics of the candidates in the media.  Perhaps it was that the Republican party and Tea Party folks were too busy to stop the wheels of government dead in it's track on each and every issue.   Perhaps it was manipulation by the people in office with big business to make things look better and reduce on of the glaring arguments of the opposition.  Perhaps it was dumb luck and chance.

Click on "read more" for the more complete story.

Whatever the reason, the volatility in the economy with no direction started to improve.  Unfortunately that trend has not only reversed, it now paints an even more graphic picture that our nation has no direction.  

The employment situation has continued to decline with no change in direction since 2008.  The "numbers" may look better depending on who publishes them but people such as the "99ers" and those who have been dropped from the roles of those counted allow our government to paint an inaccurate picture.  Today there are more people unemployed than at any time since the fall of the economy in 2008.  Figures such as these are posted:  In the week ending May 5, the advance figure for seasonally adjusted initial claims was 367,000, a decrease of 1,000 from the previous week's revised figure of 368,000. The 4-week moving average was 379,000, a decrease of 5,250 from the previous week's revised average of 384,250.  The largest increases in initial claims for the week ending May 5 were in Missouri (+2,569), New York (+2,276), Pennsylvania (+1,674), California (+1,613), and Texas (+1,229)

These figure may look like an improvement yet they are little more than a slight decrease in what could be compared to the fall of a airplane which is falling to the ground.  These figures do not show the number of people who are not employed, just those added to the ranks of the unemployed.  From my point of view, the loss of almost a half a million jobs every WEEK is something that cannot be ignored.

So, from me to our collective government, no matter who you want to blame as you point to the past rather than assure the future - Shame on all of you.  Yes, YOU.

5/16/12 - This was written a few days ago.  Things have continued to decline.  This month is now the worst month since September 2011.

I am registered as a Democrat.  I try to see the logic in our President's antics and the lack of effectiveness of all parts of our government but no matter how I try to look at things, we appear to be a nation of no direction, no leadership, no Captain at the proverbial helm of the ship.

The logic that the current administration was handed a big problem was something that made sense to me and many other Americans ... for a while... but this excuse is a bit old at this point.  If one looks at the data such as the chart below or the unemployment situation, or many other indicators, it is clear that we have no leadership in our nation and no strength in our leadership.

Chart at the end of the market on 5/16/12.
The scale on the bottom of the chart are days
Click on the chart for a larger and more clear version.

California, my own home state, has been singled out as the worst state in the nation in which to attempt to do business.

http://www.latimes.com/business/money/la-fi-mo-california-worst-state-20120502,0,461178.story

http://www.latimes.com/business/money/la-fi-mo-los-angeles-financially-distressed-20120516,0,7305392.story

As if things were not bad enough it seems as if they are going to get worse based on statements from our Governor and the Mayor of Los Angeles.

For those who may think I am being something of an alarmist, perhaps look at just a few of the reports of people who joined the ranks of the unemployed  this month.  Some are already out of work and others will receive their termination news in the next two weeks.

These are just a few of the companies that are large enough and are required to report this information.  Bottom line - things are not getting better.

Things are not getting better regardless of what we are told by our elected officials.

Things continue to decline for our veterans who are returning home

2,606 soldiers who have come home only to file for
unemployment in one week.  If the number above does
not scare you do a little math.  Over 10,000 of our veterans file for
unemployment EVERY month!
Click on the image if you wish a larger presentation.

In the week ending May 12, the advance figure for seasonally adjusted initial claims was 370,000, unchanged from the previous week's revised figure of 370,000.  This is over 1.5 million more Americans who have filed for unemployment in the last month.

More news which attempts to put a positive slant on a bad situation.
The reason the unemployment rate declines is that the earlier
waves of people who lost their jobs are no longer counted when their
benefits expire after 99 weeks.

Don't forget those who are out of benefits, who are no longer counted, who are dropped from the ranks of those counted, who never filed at all and were never counted, those part time workers in small businesses who had no benefits, those who just gave up trying to find work, etc.

6/1/2012

http://finance.yahoo.com/news/dow-plunges-more-200-dismal-153758397.html

Under the heading of "you've got to be joking" ... I just saw a news story on television where John Boehner was shown in a clip talking about the unemployment situation in the country.  He said that action needs to be taken rather than do nothing due to politics.  Talk about the pot calling the kettle black, Boehner has been the master of talking, arguing, posturing,    pontificating and being at the head of the line in stopping this country from moving in ANY direction or allowing any form of change.  

- Perhaps more later -