What a horrible week on the economic calandar

[lotstodo]

This was a tough week. The economy created a paltry 69,000 jobs, far less than the 170,000 expected and less than the 140k or so necessary to keep up with population. The manufacturing PMI was down and far below expectation, just barely above the 50 mark which is the line between growth and recession. Consumer confidence is in the pit. Weekly jobless claims are up. Personal income rose only .02%, well within the margin of error. Pending home sales are down 5.5%. The Dow is down by about 9% for the last month.

This is a contraction folks, but I wonder what spin the administration will put on this week's news.

 

[Guard Dad]

It's Bush's fault.

 

[lotstodo]

Yup. We're headed for another "Recovery Summer".

 

[LisaC]

It's all because of that Romney kid's insider trading allegations .... Bush is gone, if they don't start blaming Romney now, he might just get elected...