Economic News for Mon 30 Aug 2010

[Cheryl Nelson]

Consumer Spending Rises 0.4% In July http://finance.yahoo.com/news/Consumer-spending-rises-04-apf-3440216038.html?x=0 Stocks Drop As Investors Enter Week Cautiously http://finance.yahoo.com/news/Stocks-drop-as-investors-apf-4071777060.html?x=0 Gasoline Prices Fall Ahead Of Labor Day Weekend http://finance.yahoo.com/news/Gasoline-prices-fall-ahead-of-apf-1216523617.html?x=0 Bernanke Calls For Help To Revive The Stuttering US Economy http://www.guardian.co.uk/world/richard-adams-blog/2010/aug/27/ben-bernanke-jackson-hole-federal-reserve Joel Skousen: Inflation: What It Takes To Get There http://rense.com/general91/hypp.htm Stock Markets Face "A Blood Bath," Warns SocGen Strategist Albert Edwards http://www.telegraph.co.uk/finance/markets/7966529/Stock-markets-face-a-bloodbath-warns-SocGen-strategist-Albert-Edwards.html Jim Quinn: The Age Of Mammon http://www.zerohedge.com/article/guest-post-age-mammon Bancor: The Name Of The Global Currency That A Shocking IMF Report Is Proposing http://theeconomiccollapseblog.com/archives/bancor-the-name-of-the-global-currency-a-shocking-imf-report-urges-the-world-to-adopt Record 1-in-6 Getting Government Aid http://www.usatoday.com/news/washington/2010-08-30-1Asafetynet30_ST_N.htm Jobs Data To Show Severity Of Economic Malaise http://www.reuters.com/article/idUSTRE67S22820100829?feedType=RSS&feedName=businessNews&rpc=23&sp=true Wells Fargo: 'Our view is that the recovery is petering out, not sliding into a double dip' Obama: No Magic Bullet For Struggling Economy http://www.reuters.com/article/idUSTRE67S2GL20100829?feedType=RSS&feedName=businessNews&rpc=23&sp=true More Million-Dollar Homes Falling To Foreclosure http://www.latimes.com/business/realestate/la-fi-luxury-foreclosures-20100829,0,7308058.story HUD: No Decision On Reviving Homebuyer Tax Credit http://www.reuters.com/article/idUSTRE67S18L20100829?feedType=RSS&feedName=politicsNews&rpc=22&sp=true Policy Options Dwindle As Economic Fears Grow http://www.nytimes.com/2010/08/29/weekinreview/29goodman.html?_r=2&hp Democrats Face Economic Facts: Updraft Unlikely http://www.nytimes.com/2010/08/29/weekinreview/29goodman.html?_r=2&hp Investors Embark On Treacherous Month http://www.reuters.com/article/idUSTRE67R06520100829?feedType=RSS&feedName=businessNews&rpc=23&sp=true UK: Graduates Warned Of Record 70 Applicants For Every Job http://www.guardian.co.uk/education/2010/jul/06/graduates-face-tougher-jobs-fight "Class of 2010 told to consider flipping burgers or shelf stacking to build skills as they also compete with last year's graduates." OTHER: Collapse: Theatrical Trailer https://www.youtube.com/watch?v=WAyHIOg5aHk&feature=player_embedded# Yes, this is about an economic collapse. I like this quote: "If you are in a camp and a bear attacks, you don't have to be faster than the bear. You just have to be faster than the slowest camper."

[Kim B]

Know what you mean. :( We are another business hanging in there by threads. And the longer we do not pick up work, the more the threads keep snapping.

Weiynala of Styx said:

Dismal news Cheryl... I just did my August sales in my tiny shop here in N. Michigan... and sadly found this August to be the lowest in the 17 years I've been open. I took in $461.00! Good thing my bills are paid. Just had to cancel our home insurance, a first for us since we moved in in 1974! Scary but necessary for right now. Thank goodness for Bridge Cards.. Hanging in there by a thread... Happy and Healthy in Northern Michigan...