Off-Topic: 800,000 more in last year
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Name:
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MartiniMan
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Subject:
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800,000 more in last year
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Date:
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2/4/2010 12:23:16 PM
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Turns out the numbers from last year were understated by 800,000. Lots of other sketchy approaches in the numbers as well. For example, they assume a certain number of jobs created by small business every month. Another underestimate.
Looks also like the Dow is headed back below 10,000. Between the budget deficit (believe it or not the average MONTHLY deficit under Obama is more than the average ANNUAL deficit under Bush), more attacks on business (banks, Toyota, etc.), growth of government employment (record 2.5 million), $1 trillion in new taxes on the productive, the apparent resolve to let the Bush tax cuts expire, etc., etc.
Folks, we are repeating the history of the government actions that caused the Great Depression and it looks to me that we are headed toward another recession. I do not believe the Q4 GDP numbers and I predict a large write down of those numbers later on.
As for my business December was a disaster and January was just above break even. We are going to lay off around 10 people over the next month. We are a B to B company and our clients (mostly multinationals) are afraid of the future and aren't spending money.
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