The U.S. Bureau of Economic Analysis reported today that the U.S. economy grew at a compounded annual rate of 1.25% (rounded up to 1.3%) in the second quarter of 2012, down from 2% in Q1 2012. This represents a downward revision of 0.25% from the initial estimate of 1.5%, which I reported on in late July. A few months ago, I began tracking the progress of the current recovery against the | Read More »
Earlier this month the U.S. Census Bureau’s Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders for July 2012 showed that inventory stockpiles once again rose in July. The final revised numbers for July now show that the excess of nondefense inventory (excluding aircraft) over new orders hit its second highest total ever recorded at $59.8 Billion, surpassing the peak seen during the recession following the bursting of the dot-com bubble, | Read More »
From January of 2009 through August of this year, the cost of basic living necessities (consisting of the five basic necessities for most middle and lower income Americans: Rent, Medical Care, Gasoline, Home Energy, and Groceries) has skyrocketed in comparison to income, which has remained stagnant: Links to Individual Data Sets: Real Disposable Personal Income per Capita Real Personal Income Food at Home Gasoline Rent | Read More »
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