Sunday, March 11, 2012

General Update

There isn't much to report this month in economics. Things are going much the same as they were last month. Slow growth in the economy, in all sectors of the US economy. But the government continues to spend like a drunken sailor on shore leave and both the government and the people are sliding further into debt, keeping us on a course to follow Greece into financial meltdown in a few years.

In spite of all the liberals have done, the economy is gaining, even if it is at a snails pace (200,000 is neutral).

Payrolls in U.S. Climb 227,000
Employers in the U.S. boosted payrolls more than forecast in February, capping the best six- month streak of job growth since 2006 and sending stocks higher.

The 227,000 increase followed a revised 284,000 gain in January that was bigger than first estimated, Labor Department figures showed today in Washington.

The following, also, is actually good news for our economy.
The participation rate, which indicates the share of working-age people in the labor force, rose to 63.9 percent from 63.7 percent.

Private payrolls, which exclude government agencies, rose 233,000 in February after a revised gain of 285,000 the prior month that made it the biggest increase since February 2006. They were projected to climb by 225,000. Manufacturing payrolls increased by 31,000 after a revised 52,000 gain.

Still, at this rate, it will take something over 10 years to fully recover our employment, and 10 years will not make a scratch on our debts.

Moody's has cut Greece's credit rating again, citing a risk of default despite a recent debt write-off deal. Moody's cut Greece's rating to "C" from "Ca", the lowest level on its scale. The firm said on Friday: "Today's rating decision was prompted by the recently announced debt exchange proposals for Greece, which imply expected losses to investors in excess of 70%."

I will have an article on Smartcards and Biometrics in a few more days. This took longer to research and, while I did learn quite a bit, I have less to report than I expected.

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