People without jobs cannot buy houses, or much else.
It's Just Business: FedEx missed its predicted earnings by 1 cent. The market sold the shares lower. To make up for this terrible result the company is going to close 100 facilities and lay off 1,700 employees.
Shorty: September's Philly Fed Index 'suggests' economic growth has stalled. New orders fell, as did shipments. The average work week was shorter, while unemployment claims stuck at 450,000, but the 4 week average was a snappy 465,000. About that job creation thingy the Republicans are against...
Flash Bang: So far this month US drones have killed more than 60 people in 13 missile strikes in Pakistan. That's a new 'record level' of drone attacks. Does that mean we're winning?
Dealing: Forest Pharmaceuticals has agreed to plead guilty to 1) selling an unapproved thyroid medication, 2) promoting an adult antidepressant for use on children (the side effect was suicide) and 3) obstructing federal agents. Ordered to cease and desist, the company increased production.
Sound Off: As you walk down the street, count the people you see by sevens: One, two, three, four, five, six, poor. And repeat.
Name That Loon: Masturbation is a replacement for marital sex. School prayer and Bible studies would prevent mass shootings. Those with AIDS are not victims (leaving you to figure out the unspoken alternative…) And most importantly, “if we as a nation tolerate sin, generations to come will reap the effects.” If she’d been taught the Bible in school she would have said 'whirlwind’.
Countdown: Every time a county commission cuts back on a public service, every time a school board cuts another 5%, every time a governor puts more first responders on furlough, we take another step back. Then we applaud the frugality and no new taxes...
Pen Pals: If you write to a political prisoner in this country, the odds are pretty good that a copy of your letter will be sent to the FBI office nearest your home identifying you as a probable activist, extremist or anarchist. Wear a beard and false nose while writing those letters.
Contrarian: Alan 'Bubbles” Greenspan says it is time to raise taxes and to cut stimulus spending. But he cautioned that “all bets were off” if house prices fall further due to high levels of unsold inventory. No problem, Maestro, I'm pretty sure banks are going to raise the asking price on their backlog of foreclosed houses.
Flip a Coin: "Population growth, uncontrolled urbanization, migration, and climate change will place greater demands on the planet's water resources...” Today a billion people lack access to potable drinking water and 2.5 billion lack basic sanitation. By 2025 those numbers will climb to 1 out of 2 – over 3.5 billion people lacking adequate water supplies.
Time Marches On: There were 325,000 foreclosure filings – default notices, auctions and bank repossessions – in July. That makes 17 consecutive months with over 300,000 foreclosures and the eighth consecutive month of increases in the numbers foreclosed.
Precisely: "Is the U.S. heading toward another recession?" What do you mean “another”?