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• “Core” CPI-U Inflation Hits Cycle High
• April Year-to-Year Inflation Softens: 2.3% (CPI-U), 2.4% (CPI-W), 9.9% (SGS)
• Real Average Weekly Earnings in Ongoing Year-to-Year Decline
• Retail Sales Were Stagnant, Statistically Insignificant

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• For Second Month, Household-Survey Employment Fell as Payroll Growth Faltered
• April Unemployment: 8.1% (U.3), 14.5% (U.6), 22.3% (SGS)
• Annual M3 Growth Weakened in April as Velocity Rose
• New Indicator Shows Intensifying Systemic Stress
• Impaired Construction Spending Continued

So, imagine my delight as I’m having supper at my favorite restaurant while the family sitting at the booth behind me is having a discussion on the evils of central banking and, specifically, the founding and nature of the Federal Reserve Bank! Included in their discussion was support for several of the principles that those of us who are adherents of the Austrian School of economics hold dear. How encouraging! (And, no, I’m not given to eavesdropping on others’ conversations. But when they are less than three feet away … and speaking in at least a normal tone of voice … it’s clear confidentiality was not one of their concerns. In other words, I couldn’t have missed what they were saying if I tried.)

And I’m glad I didn’t miss their conversation. This was a very normal-looking family – no “tin-foil hats” on – nothing to identify them with any “radical” causes as many in the media like to portray advocates of sound-money and limited government. It was just, plain encouraging to me.

But I wonder where they are getting this knowledge. Could it be that the internet is making the difference? Are we really reaching people? I watch very little television, but unless they are watching some specialized cable channel, I’ll bet they’re not learning about the FED and the economically destructive impact of central banking on TV.

Whatever the case, it was a good dinner.

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• Housing Starts Continued Three-Year Pattern of Bottom-Bouncing
• Economic Recovery Never Happened; Hyped Gains Were Based on Gimmicked Inflation Adjustments
• Current Downturn Already Exceeds Duration of Great Depression’s First Down-Leg

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• GAAP-Based 2011 Federal Deficit Likely Within Five- to Seven-Trillion Dollar Range
• Effects of High Oil Prices Still Spreading in Broad Economy
• October’s Annual Inflation: 3.5% (CPI-U), 3.9% (CPI-W), 11.1% (SGS)
• Real Retail Sales and Industrial Production Gained in October But the Series Share Inflation-Adjustment Issues

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• Monthly Payroll and Unemployment Changes Were Not Statistically Meaningful
• October Payroll Employment Not Only Was 6.5 Million Below the Pre-2007 Recession High, But Also Was 1.0 Million Below the Pre-2001 Recession High
• October Unemployment: 9.1% (U.3), 16.2% (U.6), 22.9% (SGS)
• Annual Growth in October Money Supply M3 Held at About 2.6%

October 27th, 2011

• Consumer Confidence and Sentiment Sink to Levels Never Seen Outside of the Worst Recessions
• No Economic Recovery Is in Place or in the Works
• Third-Quarter GDP Gain Not Statistically Meaningful
• GDP Nonsense: Consumption Surged 1.7% While Disposable Income Collapsed 1.7%?

www.shadowstats.com

How to you get elected to political office? By being proficient at economics or financial management? By being honest or compassionate? Perhaps by having excellent leadership skills? Forgive me for being a bit cynical, but it seems to me that you get elected to political office by being good at campaigning – and that may have nothing to do with any of the desirable characteristics just mentioned.

So I would suggest that we not get too surprised by the mess in which our country finds itself. While it would be easy to engage in lengthy political discussions relative to our current crisis, I’m going to keep this blog focused on pursuing ideas each of us can employ to succeed regardless of what or elected “leaders” do or fail to do. And I’ll leave the political battle to the other bloggers – there are plenty of them.

• Consumer and Wholesale Inflation Jumped in September
• September’s Annual Inflation: 3.9% (CPI-U), 4.4% (CPI-W), 11.5% (SGS)
• Annual PPI Inflation Hits 6.9% in September

When money is tight, those credit cards look real tempting. However, you cannot afford to get trapped in a vicious circle of debt because it will only make it more difficult for you to deal with emergency situations. Instead of spending on credit cards, work to save money and only use credit cards in emergencies. You’ll avoid more debt, which will help in the long run.