Bad Signs for The Economy

Following up on my posts about the economy, today the Labor Department released its employment survey. The news sent Wall Street into a nose dive. The economy actually shed jobs last month and therefore brought to an end the growth we have had since the past four years. Here is the report via the New York Times:4-Year Growth in Jobs Ends; Stocks Plunge

The bush era has been a bad one in so many ways that it’s hard to recall that his record on the economy was as bad as his record in Iraq. This growth period, measured from the bottom of the last recession [which is the way these things are always done except if you are trying to “spin” a better story!] has seen the worst job generation of any post war recovery. Bush’s record on jobs has been terrible.

And now it seems to sputtering to a halt right at a time when credit markets are in disarray. That’s not a good combination and might well presage a hit to consumer confidence. If it does, and it is looking very likely it will, then a recession surely looms in early 2008.

I have said before the economy looks strong enough to avoid recession, but these employment numbers are a very bad sign: things are looking a lot worse than they were even last week.

Rough times are on there way so button up and don’t take too many financial risks!