Indicators to watch out for | Bleader

Monday, October 20, 2008

Indicators to watch out for

Posted By on 10.20.08 at 11:02 AM

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* "Chicago will see a net loss of about 43,000 jobs by the end of 2009, pushing up unemployment to a short-term peak of 8.4%, predicts Sophia Koropeckyj, an economist with Moody's"

* "But a faltering economy and seized-up credit markets have brought visible work on the project to a standstill. Currently the site is simply a circular hole, 76 feet deep and 110 feet across"

* "Daley's proposed 2009 budget would reduce the Food Sanitation Section from 62 employees to 45. Fourteen of the jobs eliminated belong to sanitarians."

* Credit where credit's due: "[President Bush] also signed a companion measure providing more than $12 billion for Amtrak, which recently reported a record ridership of 28.7 million in fiscal year 2008."

* Also noted (same link): "Sen. John McCain (R-Ariz.), the Republican presidential candidate, voted against the bill earlier this month. Sen. Barack Obama (D-Ill.), the Democratic candidate, voted for it."

* "On the brink of the cold-weather months, more than 56,000 natural-gas customers in the Chicago area remain disconnected for lack of payment. That's up 36% from last year "

But, maybe some good news?

* "Simply from a technical perspective the market has already sold-off a ton. While it can still go lower I think the majority of the technical damage has been done."

* "Many signs this morning that the money markets are unfreezing." But Krugman also adds: "this just stops the credit markets from collapsing; the real economy is still rushing downhill."

* But some of that is a lack of confidence, it seems.

* Buffett: "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful."

Even better news

* Tell your boss that people who work at the office are working with the terrorists, or the petrostates, or Exxon, or something.

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