Unemployment for December 2008
Chuck Simmins | January 9, 2009
With the release of the unemployment figures for December 2008, the era of the Bush economy can be said to have ended for comparative purposes.
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Unemployment Numbers for October 2008
Chuck Simmins | November 7, 2008
Nonfarm payroll employment fell by 240,000 in October, and the unemployment rate rose from 6.1 to 6.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. October’s drop in payroll employment followed declines of 127,000 in August and 284,000 in September, as revised. Employment has fallen by 1.2 million in the first 10 months of 2008; over half of the decrease has occurred in the past 3 months.
Canandaigua National Bank on Credit Availability
Chuck Simmins | October 17, 2008
Reports from places that do not vote Democrat seem to suggest that local banks are in much better shape than the media and Congress would have you believe. This is what CNB has to say on their web site
Debt, Debt and More Debt
Chuck Simmins | October 10, 2008
CNN Money and Fortune Magazine tally the top corporations in the United States yearly. In the midst of this credit crisis, I thought it might be interesting to look at the debt burden of the top ten American corporations. I used the latest quarterly balance sheets as posted on Yahoo Finance.
Unemployment for September 2008
Chuck Simmins | October 7, 2008
Unemployment rates have been worse in the last thirty years. For Blacks and Hispanics, the current rates are as close to record lows as they are to peak unemployment rates. Overall, it appears that unemployment rates are trending lower if you consider the period 1980 to date.
Mark to Market Changed for Now
Chuck Simmins | October 1, 2008
Securities based on mortgages have a value, despite the refusal of the players to make a market. That will change in a month, and no company should be penalized by accounting rules for the momentary oddities of the marketplace.
Bailout Fails!
Chuck Simmins | September 29, 2008
Looks like the majority of the House agreed with me. The financial bailout in its current form is dead.
The usual way to fix this is for Congress to lard up to bill with pork so that more Congresscritters will vote for it. Watch for that approach to be forthcoming. Congress can be bought. It’s just a matter of the price, now.
Opposing the Bailout
Chuck Simmins | September 29, 2008
The bailout uses your money. From your pocket. Do you really want to spend your money? Do you really want the Federal Government to take your money and spend it however they wish? Here are some of the others opposing the financial bailout.
Emergency Economic Stabilization Act of 2008
Chuck Simmins | September 28, 2008
Here is a link to the Financial bailout agreement. It is in PDF form. It is a long and complex document but a very quick scan reveals some issue for the American taxpayer.
Is This Mortgage Worthless?
Chuck Simmins | September 28, 2008
We, American taxpayers, are being fed a steaming pile of bull by elected officials bought and paid for by the mortgage industry. This crisis was manufactured solely to ensure that mortgage holders receive a higher price for mortgages than a reasonable buyer would pay.
It think it’s time to fire Congress.
Financial Disaster Coming?
Chuck Simmins | September 28, 2008
Read this. Send it to all your friends. Send it to your enemies and even strangers. This is the absolute truth about the Congress. No bull.
Bailout Blues
Chuck Simmins | September 25, 2008
Why should we trust the Federal Government to do the right thing?
Economic Downturn or Murder?
Chuck Simmins | September 18, 2008
The fundamentals of the American Economy are sound. They are. Unemployment is low. Inflation is low. Productivity is good. Interest rates are low. GNP numbers are ok.
It is not a crisis if economic measurements are not at historic numbers. Every week, every month, every year cannot set a new record. It is the trend that counts. The only trend damaging our economy at this time is that of government interference in the economy.
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