Thursday, August 13, 2009

Where's the recovery?

WASHINGTON – Retail sales disappointed in July and the number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week. The latest government reports reinforced concerns about how quickly consumers will be able to contribute to a broad economic recovery.

NEW YORK (Reuters) – U.S. home loans failed at a record pace in July despite ongoing federal and state programs to avoid foreclosures, which have severely strained housing and the economy.

Foreclosure activity jumped 7 percent in July from June and 32 percent from a year earlier as one in every 355 households with a loan got a foreclosure filing, RealtyTrac said on Thursday.

As the Today show mentioned today, some people are wondering whether the rage displayed at recent town-hall meetings is all about health care. I suspect that a lot of it has to do with the Fed pumping tens of trillions of dollars into the derivatives bubble, but nothing into the real economy. LaRouche has indicated that a lot of the rage was the work of professional "disrupters," whose function is to prevent any meaningful discussion taking place, much less making its way onto the fantasy-box known as TV.