Mish's Global Economic Trend Analysis |
Posted: 12 Aug 2013 08:51 PM PDT Following several months of 30% readings (not that 30% is anything to brag about), U.S. Satisfaction Sinks to 22% in August U.S. satisfaction suffered a setback this month, after a two-month upswing. Twenty-two percent of Americans say they are satisfied with the direction of the country, down from 28% in July and 27% in June. Three-quarters of Americans are now dissatisfied with the nation's course, up from 68% in July.Gallup expressed the opinion the drop in satisfaction levels was political rather that economic. I suggest otherwise, but it's hard to say given the up and down fluctuation this year. Regardless, it's time for a musical tribute. Link if video does not play: Rolling Stones: "Satisfaction!" Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
Finding Hope When It's Hopeless Posted: 12 Aug 2013 03:50 PM PDT The New York Times reports Greek Economy Shrinks for 20th Straight Quarter The Greek economy posted its 20th consecutive quarterly decline in the three months through June, government data showed on Monday, but a slower pace of contraction provided a glimmer of hope for beleaguered Greeks.Illusion of Hope Allegedly GDP improving from negative 4.6% to the target of negative 4.2% provides a glimmer of hope. Please be serious. This is what the Greek unemployment rate looks like. Youth unemployment is about 65%. Let's assume the Greek economy improves steadily over the next two years and by 2015 Greece does even better than expected and achieves 0% growth. Three Questions
Hope is an illusion provided by economists who think Greece should stay committed to the Euro even as the cancer of unemployment spreads and numerous structural problems remain unsolved. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
You are subscribed to email updates from Mish's Global Economic Trend Analysis To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google Inc., 20 West Kinzie, Chicago IL USA 60610 |