Posted by kevinbrunt on February 5, 2008
The Institute for Supply Management reported that its index of service sector business activity declined to 44.6 in January from a revised reading of 54.4 in December. I believe they were forecasting 53. Of course this is abysmal.Utilities, professional services and educational services were the only sectors reporting increases. The others were down.
New orders fell to 43.5 while employment fell to 43.9. The employment picture is especially discocerting as it is looking forward.
We are in recession! K
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Posted by kevinbrunt on February 3, 2008
As of now I am an Obama supporter for no other reason than its time for some change. The debate last night cemented my decision.
I have ruled Hillary Clinton out, for the simple reason that there has only been a Clinton or a Bush in the White House for what? 20 years? Time for a change. Bill and Hillary have shown their true colors in the last few weeks by bringing race into the picture.
My first choice was Bill Richardson. He was by far the most qualified man for the job so of course he would drop out early in the game. Biden and Dodd were also highly qualified, but alas, no suport for them.
As for the Republicans:Mitt Romney….too rich and out of touch with the middle class Mike Huckabee…….being a Baptist minister disqualified me with him immediately…….Fred Thompson…..phony………John McCain….would continue Bush’s policies in Iraq.
So…….Barack Obama it shall be………..Kevin
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Posted by kevinbrunt on February 2, 2008
Some I have seen today: Housing Decline 25% Ahead!
17k Jobs Lost Last Month
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Posted by kevinbrunt on February 1, 2008
The Fed has certainly let us know what they think about the economy. It sucks ass! Some things are a bother though to me. Have they forgotten inflation? Are they just trying to placate the market? These cuts are going to be inflationary for sure….
My doubts are still intact for the stimulus plan. First, if they agree on it anytime soon I will be greatly surprised. If they do manage to hammer out agreements I am betting most are going to pay down debt instead of running out and buy something. I am not quite sure how that would help anything.
Gold and silver continue to rise..1000 bucks this month. Some are beginning to call it a gold bubble I don’t believe it. I don’t buy the physical gold myself. The way to do it is to buy ETFs such as GLD…..Kevin
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