Government Jobs Have Overtaken Goods-Producing Jobs
CIGA Eric
Stop the presses!
Government Jobs have overtaken goods-producing jobs.
Why don’t we just put everyone in the United States on the federal government
payroll and call it a day?" counters Rep. Jerry Lewis, R-Calif. source
Goods-Producing Works vs Government Payroll: 
More…
Jim,
What a recovery we are having in the USA. Not only is it a jobless one but all debt public and private is defaulting. My Bernanke framed time magazine "Man of the Year" award should be finished at the frame shop shortly. How about yours?
CIGA BJS
Soured Non-Agency Mortgages Rise to Record 1.81 Million Loans
By Jody Shenn
Jan. 8 (Bloomberg) — A record 1.81 million U.S. home loans backing the securities that roiled the global financial system were “nonperforming” last month, adding to threats to the housing market, according to Amherst Securities Group LP.
Mortgages at least 60 days delinquent in so-called non- agency securities equaled 32 percent of the total as of late December bond disclosures, up from 25 percent a year earlier, according to a report e-mailed yesterday by the Austin, Texas- based securities firm.
Soured mortgages ballooned last year even as new defaults eased as the Obama administration pushed loan servicers to assess homeowners for debt modifications and state moves slowed foreclosures, cutting liquidations of properties after borrowers stopped paying, according to Amherst. Higher seized-home sales as the government efforts mature may undermine a stabilization in housing after its worst slump since the 1930s.
“The housing market is taking relatively less pain now, which means it’s going to take more pain later,” Laurie Goodman, an Amherst analyst in New York, said in a telephone interview.
The firm’s report reflects payments due in November on home loans underlying securities such as subprime- and jumbo-mortgage bonds, with nonperforming loans including debt in foreclosure and already turned into seized properties. Amherst used data from First American Corp.’s LoanPerformance unit.
Jim,
Labor Report Review :
U.S. employers unexpectedly cut 85,000 jobs in December, government data showed on Friday, cooling optimism on the labor market’s recovery and keeping pressure
on President Barack Obama.
Yra Harris pens a nice blog called Notes From the Underground. Under the title Yra writes, most likely quoting a BLS statistician directly, "where 2+2=5 is also a beautiful thing."
The 2+2=5 philosophy drives many aspects of perception driven economics (spin or MOPE), but no where is this more apparent than the labor numbers.
CIGA Eric