Wednesday, September 30, 2009

Are things getting worse?

Hey, I'm just a blogger in upstate NY, but this sentence from the Wall Street Journal is just poorly written.

"The pace of layoffs didn't slow much in September, raising questions about the strength of the recovery."

Companies continue to layoff workers at roughly the same rate as the did in August so that leads you to question the "strength" of the "recovery"? If businesses slowed the pace of HIRING perhaps you could say that raised concerns about the strength of the recovery, but when firms are still laying off hundreds of thousands of people every month it's hard to call it recovery.

Anyway, the news of the day seems to be the wildly volatile ADP survey which comes out 2 days prior to the actual jobs report. I don't have a good read on this month's jobs report. I suspect government and education hiring remained strong, while private sector jobs weakened substantially. I imagine the BLS will futz with the Birth/Death model to plug in a number that makes the market happy (call me a cynic), but the market is jittery and if we get a disappointing number look out.

CIT seems to be teetering on the brink again. Maybe someone will step up to save them, but if they do, it seems likely that the equity will get wiped out (but that doesn't mean people will stop buying the stock --- see GM as an example).

Perhaps the most distressing piece of news this morning is the fact that the Chicago Purchasing Managers Index fell back below 50 in September. A reading below 50 indicates more people said business conditions were worsening than said they were improving and September's reading was 46.2. Chicago is considered a good gauge for the US economy because of it's mix of manufacturing and service businesses.

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Finally, if you're a regular reader (and even if you're not), I'm going to ask a favor of you......

Would you consider adding the Alexa Toolbar? It's a simple add-on from Amazon that let's you see where every website is ranked -- ie, google is #1, facebook is #2, etc. The more people that use Alexa and visit your site, the higher your ranking. Well, I've climbed from a rank about 8,108,564 into the top 1.2 million websites in the past few months. If a few more readers added the Alexa toolbar, I think I could really get solidly into the top million :)

Here's the link for the Alexa Toolbar.......

Cheers!

1 comment:

Anonymous said...

A double negative occurs when two forms of negation are used in the same clause. In some languages (or varieties of a language), negative forms are consistently used throughout the sentence to express a single negation. In other languages, a double negative is used to negate a negation, and therefore, it resolves to a positive. In the former case, triple and quadruple negation can also be seen, which leads to the terms multiple negation or negative concord.

I think that's what the WSJ was trying to say :)
SMTF