Wednesday, August 24, 2011

Economy Report - August 24, 2011 : Paul Buzby - Rare Coin Wholesalers

Survey: Employers consider ending health coverage
We are watching the collapse of the American health care system unless we change direction.

CBO: Budget deficit to hit $1.28T, down slightly
We are spending at record levels and they have the temerity to say the yearly deficit is down slightly.

Higher durable-goods orders ease economic worries
Private business (70% of U.S. GDP) is slowly recovering. Numbers are down overall because Public employees who have been shielded for the last three years are now having extreme problems like the rest of us.

Oil climbs on stronger manufacturing activity
Summer oil spike is almost over and manufacturing knows this and is increasing production in expectation of dropping prices.

Local wheat sees revival in former grain states
Ethanol farm subsidies are pushing all food prices up. This will be repealed and when it is, the price of food will drop big.

Europe, US stocks rise on upbeat economic report
Europe temporally stabilized. They will have more problems which are more severe. U.S. private businesses (70% U.S. GDP) is recovering.

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