Money & The Economy

Economic Situation Update

Last updated 10/15/09

Welcome to CDN’s economic situation update.  We constantly add information to this article as the economic situation changes.

Newest updates:

In this post you will find:

  • Opinion Polling Results
  • Information from the Bureau of Labor Statistics (employment/unemployment/jobs data)
  • Links to relevant articles on the economy
  • Actions our government is taking that will impact the economy
  • What’s happening in the global economic theater

Opinion Polling Results


  • Job creation index flat from September (10-11-09)
  • Consumer spending down 30% from year-ago levels and down roughly 5% from last month (10-11-09)
  • Consumer confidence flat (10-11-09)

Rasmussen Reports:

  • 49% believe the economy will be stronger in five years, down from 58% in July and 64% in March (10-09-09)
  • 72% tax hikes for incomes under $250,000 (10-11-09)
  • Consumer confidence falls for 6th day in-a-row
  • 62% oppose another stimulus
  • 36% believe Obama’s plan has helped economy
  • 53% oppose more regulation of corporations

Government Stats

  • Consumer Price Index up seasonally-adjusted .2 percent for September
  • Real average hourly earnings fell .1% from August to September
  • Prices increase by .6% for non-fuel imports on dollar’s weakness
  • FDIC fund balance now negative reserving for expected losses in next 12 months
  • 8% of all residential mortgages now seriously delinquent – commercial mortgages starting to show trouble
  • More than 70% of U.S. GDP is from personal spending
  • $12 trillion in personal net worth destroyed in last 7 months
  • Unemployment increases to 9.8% in October
  • Current employment numbers show that no new jobs are being created (over 263,000 jobs disappeared in last month)
  • Real earnings to be released on October 15th (key to gauging deflation vs. inflation)

Links on the Economy

Recent Actions on the Economy

  • Congress considering second stimulus
  • Bernanke likely to win second four year term as head of Federal Reserve
  • Trade deficit narrows on weak demand for imported oil and weak sinking dollar

Global Economic News

  • Canada and Australia add jobs as U.S. continues to lose them – stunning echos from 1930
  • Dollar being attacked by mid-east and Russia…
  • Central Asian banks buy up greenbacks to support the free-falling dollar – a week dollar means no one to sell to

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Rich Mitchell

Rich Mitchell is the editor-in-chief of Conservative Daily News and the president of Bald Eagle Media, LLC. His posts may contain opinions that are his own and are not necessarily shared by Bald Eagle Media, CDN, staff or .. much of anyone else. Find him on twitter, facebook and

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