The United States enters the twilight zone
May 4th, 2012 07:27 by News
03-May (Reuters) — ZeroHedge
points out that the amount of U.S.
There is nothing quite like a $70 billion debt
auction settlement at the last day of a month to bring total US debt to a
record $15.692 trillion, which happens to be just $600 billion shy of the
$16.394 trillion debt ceiling … And now that we know what Q1 GDP was at the end
of Q1, or namely $15.462 trillion, it is simply math to divine that today alone
total US/debt to GDP rose by 50 bps to a mindboggling 101.5%.
Now there is a whole school of thought, which counts
New York Times columnist Paul Krugman among its
leaders, that says that despite the amount of debt the federal government has
incurred, more government spending and debt are needed given the stagnant state
of the economy. Krugman elaborated on this idea in a
recent interview with Julian Brookes of Rolling Stone:
A lot of people find emotionally unacceptable the
idea that economic suffering on this scale could have a relatively trivial
cause. But this has happened again and again through history. And it could be
fixed fairly easily, by having government step in and spend.
The U.S.
…But propping
up the entire economy by issuing more debt can’t be sustained for much longer U.S.
People Not In Labor Force Soar By 522,000, Labor
Force Participation Rate Lowest Since 1981
May 4th, 2012 06:54 by News
04-May (ZeroHedge ) — It is just getting sad now. In April the number of people not in the labor force rose by a whopping
522,000 side, and the reason why the
unemployment dropped to 8.1% is that the
labor force participation rate just dipped to a new 30 year low of 64.3%
PG View : Nobody should be touting that teeny dip in the
jobless rate as an encouraging sign…
