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We're Starting to See Some Good Economic News

Posted by libhom Monday, October 11, 2010

Last winter, the economy was improving. Absent a new problem, we were headed towards a recovery.

Then, Greece happened.

Obviously, it was much shittier for the Greeks, but it dramatically slowed our economy. For months, our economy started to look as if it were heading towards a double dip recession. Since then, our unemployment rates have remained stagnant.

Now, we are starting to get some good news again. It looks as though we've starting to get through the temporary problems caused by the Greek crisis/bankster holdup. Here are some examples.

US jobless claims hit 3-mo low as soft patch fades (Reuters 10/7/10)

Mortgage Rates At Record Lows (ABC News 10/7/10) [Note: Rates have been artificially high compared to the prime rate since the Crash of 2008.]

U.S. service sector growth picks up (CBC )

GDP report: Economic growth slightly faster (CNN Money 9/30/10)

Things aren't fabulous, but they are starting to show early signs of improvement. The freezes on home foreclosures by many major banks caught doing illegal foreclosures should help the economy too.

 

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