Whats Happening Today?

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Whats Happening Today?
Today, we have a new report by ADP stating that non-farm employment rose by 9,000 jobs in the past quarter - that equates to 180 jobs per state. Hurrah! We've torned - what? thats not enough??
Yes, folks, this is NOT enough. Remember, these figures from ADP - ANYTIME - only reflect those using ADP's payroll services - so in fact they're about as close to reality as Cheney is to a nun - not at all.
For every user of ADP's services, I'd reckon that {conservatively} 120 other business's don't use them, and that of (those) you can bet that a great percentage of them will be farm's and small business's that just cant afford a service like that. So in effect, ADP's reports are from the section of business that is currently doing OK in this economy.

Onward - Here's a chilling report by AGI News (click for full article)- essentially, this article states that by 2016 over 6% of the U.S. workforce will be over 65 - and earning about the same os their juniors - senior employment has risen steadily since 1995, with current numbers looking to soar when the dreaded Baby Boomers turn 65 - this year and forward. Currently, workers over 75 years of age has increased by 172% since 1997 - so, be kind to those Wal -Mart greeters - you just never know...

With Fannie Mae and Freddie Mac in the 'soup' so to speak, it looks like time is growing shorter and shorter to cash in on those glorious house sale prices, for I forsee a quick instant turnaround when a new president is announced. Simply put, I believe Bush will ride this until the end of his term, leaving the problem squarely in the hands of a successor, whoever it may be. Numbers on this are stunning : exact figures are hard to come by, but putting all the other capital losing banks etc. together losses MUST run to the trillions by now - add to that today's report from Bloomberg (click for full article)- with cost of living now at a 17 year high, with a rise of 5.6% this year to date. Not including food and energy prices. Add those to the mix and you could say cost of living has gone up over 10% or more.

More later -thanks.