At long last the year of losing half of my stock investments ended. Now we will be entering the pivotal reporting period when the retail numbers for December come out, which will really see if this recession has legs. If the numbers point to a huge drop in retail sales and major retailers go bankrupt, then the unemployment rate will shoot up in the double digits nationwide and cause some serious panic. If the number are not a big change from last year than we will have dodged one bullet. Let us see when the numbers come out what happens with the retail numbers.
In the news today, the legislative author of the subsidized federal loan passed away today. In memoriam I will soon put up an economics lesson on the effect of subsidies on price and output showing why student loans cause the price of college to rise very quickly.
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