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Archive for April 25th, 2012

New orders for durable goods fell 4.2 percent last month. Orders have dropped two out of the last three months. When the orders for durable goods drops, it can herald the beginning of the end of whatever business expansion we’re in. It’s the scary canary in the economic coal mine. However, falling orders for durable goods does not necessarily signal the beginning of the end, but it is always the first step.

Durable goods are those things that ordinarily last three or more years, like pipes, computers, cars, toilets, stereos and stuff like that.

We should keep an eye on financial events as they unfold because the next recession could come quickly and with savage intensity since the rich are getting an ever greater share of the total national income through their political power over Republicans and Democrats alike. The one percent heisted 93 percent of the total national income growth from 2009 to 2010, and it is likely their share is about the same for the 2010 to 2011 fiscal year. That means there’s less money among the 99 percent to demand the goods and services necessary to keep the economy floating and to increase the number of jobs, while the rich have more money and political clout to demand and get legislation that redistributes even more income into their already fat wallets.

So hold on to your jobs, because the recession could be coming soon. Oh, and by the way. We’re still in the Second Great Depression that began in December 2007.

Click here for the full durable goods story

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Are you standing in line longer to pay your parking tickets? Or to go through the metal detectors? Is it more difficult to find a court person to answer questions? If your answer is yes, blame free trade treaties.

On Monday, Aimee Green of the Oregonian newspaper reported that budget cuts were slowing Oregon’s courts. Of course that wasn’t true, and Ms. Green knew this. Free trade has slowed down the courts by shipping much of the tax base overseas, thereby forcing budget cuts on the courts of Oregon.

“By May 1, court administors expect expect to eliminate the equivalent of 95 full time employees statewide.” That means there will be fewer employees who will take your money for your parking tickets at the counter, to answer questions, to get files from the archives, “to enter warrants into the computer system and to staff courtrooms that hear criminal and civil cases.”

These newest cutbacks mean 296 jobs will have been cut since 2009.

The Oregoninan never reports the truth in these matters simply because it is the voice of the one percent in Oregon. The purpose of the newspaper is to help its corporate masters redistribute income and wealth from the 99 percent to the one percent by misleading the vast majority of Oregonians. And that is precisely what Aimee Green has done.

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