Saturday, November 27, 2010

Worrying Economic Statistics

http://www.marketoracle.co.uk/Article24598.html
Published at Market Oracle by Lew Rockwell

Rockwell itemizes his stats:

#1 In November 2006, the "official" U.S. unemployment rate was 4.5 percent. Today, the "official" U.S. unemployment rate has been at 9.5 percent or greater for more than a year.

#2 At Thanksgiving back in 2006, 26 million Americans were on food stamps. Today, there are over 42 million Americans on food stamps and that number is climbing rapidly.

#3 According to the U.S. Census Bureau, median household income in the United States fell from $51,726 in 2008 to $50,221 in 2009. Median household income declined the year before that too. Meanwhile, prices have continued to rise throughout that period.

#4 At the end of the third quarter in 2006, 47 banks were on the FDIC "problem list". At the end of the third quarter in 2010, 860 banks were on the FDIC "problem list".

#5 California home builders began construction on 1,811 homes during the month of August, which was down 77% from August 2006.

#6 In 2006, new home sales in the United States were near record highs. In 2010, new home sales in the United States are at record lows as the following graph from Calculated Risk demonstrates....

#7 A recent survey of last year's college graduates found that 80 percent moved right back home with their parents after graduation. That was up substantially from 63 percent in 2006.

#8 According to one analysis, the United States has lost a total of 10.5 million jobs since 2007.

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