Hard hitting global and local news
Gallup Reports Upper-Income Spending Worst November Ever With the generally upbeat spending reports on black Friday and cyber-Monday, Gallup paints a different point of view in its most recent poll that shows U.S. Consumer Spending Holds Steady, Consistent With 2011 Americans’ self-reported daily spending averaged $73 in November, essentially on par with September and October.
See the article here: Mine-Sniffing Dolphins Lose Their Jobs to Robots; Sea Lion Jobs Safe for Now
Right-to-Work provisions are at long last coming to Michigan. Reuters reports ‘right-to-work’ law exempts existing union contracts Right-to-Work could be approved within a week Stunning blow to organized labor Immediate impact blunted by "grandfather" clause Opponents vow to overturn new law The proposed Michigan "right-to-work" law will not apply to existing union contracts, a leading sponsor of the proposal said on Friday, which may blunt its immediate impact on the huge auto industry in the state.
For the rest of the trend, consider my comment in today’s job report: Establishment Survey +146,000; Household Survey -122,000 Jobs; Unemployment 7.7% as Labor Force Shrinks by 350,000 In the last year, the civilian noninstitutional population rose by 3,733,000.
Continue Reading: Small Business Owners’ Hiring Intent Plunges to 2008 Lows; Don’t Blame Sandy or Fiscal Cliff
Read the original post: Geithner Says Obama Willing To Go Over Fiscal Cliff: Game Theory Bluff Or Reality?
Read the article: ECB Leaves Rates Unchanged, Significantly Downgrades 2013 Economic Forecast; Is Italy Falling Into the Abyss?
Anyone believing those myths needs to consider Euro Countries (and the IMF) Can Learn from Latvia’s Economic Success . In 2008–09, Latvia lost 24 percent of its GDP.
View the original here: Charts of the Day: Consumer Debt Components Since 2003 and Since the Start of the 2007…
