On Fri, 08 Aug 2003 03:06:02 GMT, "Jim"
wrote:


Ahh, but if you bothered to read my entire post, it was not only a one week drop I
reported but a drop in the month of July. Spin it anyway you want to. The fact is
that unemployment dropped in July.


I'm only jumping into this, because it is somewhat related to boating,
as this economy is impacting all industries.

It has not been shown that unemployment dropped, only that the folks
being put out of work dropped. Not that alone, the media that spins
this news routinely forgets to mention that thousands of folks finally
run out of their benefits, and are no longer a "statistic." It
doesn't mean they've entered the workforce, or it would show in other
data. Jobs are moving overseas, and will continue to do so.
Companies are myopic in this regard, because their only concern is
profits, which makes corporate executives rich, and gives analysts
their fuel to prosper.

Another spin on your part. The fact is that productivity increased for 2 straight
quarters.

Spin? Productivity.........Part of Greenspan's "new economy."
Productivity is wonderful for corporate America, as it drives, that's
right, profits. Take a look at what the media and analysts purport to
be "surprisingly good earnings" for Q2. Earnings on cost cutting, tax
benefits, aquisitions, and a weak dollar are not earnings.

Companies are now finding that they can squeeze more work out of each
employee, so they're unlikely to hire. Moreover, they'll use these
current metrics when the economy does start to recover, so as business
does improve, the rate of adding new employees will be much lower than
in the past. Q2 GDP was driven almost exclusively by mortgage
activity, and with interest rates surging upward, GDP likely won't see
this benefit in Q3.

Bear in mind that you don't see the full story unless you dig for it.
The media, analysts and economists work in concert to spin even poor
data, making sure everyone has a good prescription for their rose
colored glasses. Talk to folks on the front line, and they'll look at
you cross-eyed if you start talking "recovery".