Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Jobless Claims Up -- Ray and I were published on the American Thinker blog this morning
We discuss the rising Jobless Claims numbers and the reports of hospital layoffs and conclude:
To read the posting, go to:
Why are we letting China buy American Companies?
Tradereform.org notes that the New York Post featured an excellent commentary by Diane Francis on December 15 entitled Why are we letting China buy American Companies?. It's about a Chinese company's purchase of U.S. pork producer Smithfield Foods of Virginia. Francis predicts the following:
Francis' concern about the loss of American technology is valid and important. And there is another important concern....
The Media Silence on the Explosion in Unemployment Insurance Claims
In the week ending December 7, the advance figure for seasonally adjusted initial claims was 368,000, an increase of 68,000 from the previous week's revised figure of 300,000. The advance number of actual initial claims unadjusted, totaled 461,422 in the week ending December 7, an increase of 146,241 from the previous week. The 461,422 figure is consistent with an economic downturn.
Regular readers of this blog know that we believe the number of unemployment insurance claims filed is one of the most important indicators of economic activity and is the most up-to-date of any of the important indicators. Going into the recession of 2008-09, both the seasonally-adjusted and unadjusted figures were under 400,000 until July, 2008. They rose consistently throughout the remainder of 2008 and 2009, reaching numbers of 600,000+ in January, 2009. ...
Mixed Trade Report for October
According to statistics just released by the Commerce Department, U.S. net exports improved slightly in October, though the three month trend is still downward. The best news is that net U.S. goods exports to China increased by $605 million for the year ending in October to a negative $320,419 million from a negative $321,024 million for the year ending in September.
A careful examination of the graph below shows that U.S. net goods exports to China stopped going down in 2013, after declining steadily throughout 2010, 2011 and 2012.
Journal of Economic Literature:
Atlantic Economic Journal: