Lithuanians Under Police State Attack: and the world under Washington’s attack — Paul Craig Roberts
March 25, 2015 | Original Here Go here to sign up to receive email notice of this news letter
|Russian President Vladimir Putin addresses a crowd on|
May 9, 2014, celebrating the 69th anniversary of victory
over Nazi Germany and the 70th anniversary of the
liberation of the Crimean port city of Sevastopol from the
Nazis. (Russian government photo)
|We are in deep trouble...|
We are wary about a trend toward constant accommodation of China, which is not the best way to engage a rising power.More consternation arose when Germany, France and Italy have additionally made overtures in the same direction. This worldwide trend spells utter defeat for Obama and his disastrous foreign policy.
… After years of endless wars, spying, debt, money printing, bailouts, and insane regulations, the rest of the world has had enough. And they’re looking for an alternative.Enter the China led BRICS alliance and its New Development Bank and now China’s other investment bank entry AIIB. Simon takes liberty in his interpretation of Britain and Europe’s bold rebellion after decades relegated to being a mere puppet of the US Empire: “Look, you have $18.1 trillion in official debt, you have $42 trillion in unfunded liabilities, and you’re kind of a dick. I’m dumping you.”
The war has been provoked to destroy the Russian World, to draw Europe into it, and to surround Russia with hostile countries. Unleashing this world war, America is trying to deal with its own internal problems.Current economic turmoil reverberating in Japan is in large part due to the notorious corruption of the Abe government that may soon have additional problems to contend with once accusations over a fraudulent past elections get fully exposed.
Why Are Construction Jobs and Housing Starts Telling Different Stories? Is The Problem Non-Farm Payrolls
Housing starts slumped in February by the most in four years as bad winter weather in parts of the U.S. prevented builders from initiating new projects. Work began on 897,000 houses at an annualized rate, down 17 percent from January and the fewest in a year, the Commerce Department reported Tuesday in Washington. The median estimate of 80 economists surveyed by Bloomberg called for 1.04 million. “It was just the weather, basically,” said Richard Moody, chief economist at Regions Financial Corp. in Birmingham, Alabama. Still, “my view of the recovery in single-family housing is that it’s coming more gradually than others think.”
The red line above shows seasonally adjusted housing starts for February plunged by one of the largest amounts in the post-crisis period.
The chart below shows a subset of the February non-farm payroll report, residential construction jobs. Seasonally adjusted these jobs increased by 17,200 in February, the most in two years (Feb 2013 was greater) and the second most in four years.
The vast majority of residential construction jobs are due to new housing starts. Existing housing does not create a lot of construction jobs. So while economists are blaming the weather for the plunge in housing starts, residential construction jobs were fairly robust in February. This makes no sense.* * *
Could remodeling have accounted for this discrepancy? Was there a big rush to redo kitchens in February? In Home Depot’s February 24 investor conference call, they made no mention of an unusual or a big increase in remodeling. Remodeling is so important to Home Depot that they partnered with Harvard University to create an economic series to help track sales (noted in the conference call).
If remodeling was not responsible for this discrepancy, we are left with a theme we have brought up on multiple occasions over the past few weeks. Payrolls data continues to paint a rosy picture of the economy while the rest of the economic data is doing quite the opposite.
Economists seem to start with the premise that the non-farm payroll data is correct and everything else needs to be dismissed by weather and other factors. Maybe we should ask why the non-farm payrolls number is different from everything else.