The October employment report shows there are 5.8 million fewer jobs than last year. This trend is a tad better than September, when the economy was down 6 million jobs. These year-over-year stats show the trend is improving. In the 2001 recession, the economy did not regain health until this number trended up. Although that recession only lasted 8 months, it led to 29 months of job losses. (See Google Spreadsheet Employment)

Read more...

Sometimes you just gotta do the right thing. Secretary of Veterans Affairs (VA) Eric K. Shinseki announced the Federal government will spend $3.2 billion to rehabilitate 154,000 homeless veterans. This includes $2.7 billion on medical services to treat the debilitating depression and PTSD often caused by war. The remaining $500 million will be spent on homeless programs.

Will this help the economy get back on its feet, create jobs or increase GDP growth? We will never know. The results may never be measured. As discussed by Riane Eisler in her book The Real Wealth of Nations, GDP doesn't measure at-home child care, the cost to dispose of plastic or the misery of a veteran living on the streets. If it did, our society would change. Which is exactly what she argues. Until then, sometimes you just gotta trust your gut and know when its time to do the right thing.

Read more...

Gold hit another all-time record of $1,081.70 an ounce, thanks to India's purchase of 200 metric tons from the IMF (International Monetary Fund).

One of the key arguments in Obama's healthcare reform proposal is that the government can lower healthcare costs by 1.5% a year, by negotiating lower prices and reducing other inefficiencies. The annual healthcare bill is $2 trillion, so this would save $30 billion a year.

A recent "60 Minutes" show, repeated by many sources, says Medicare fraud costs $60 billion a year, which would negate the savings in the Obama plan. However, my About.com colleague and professional journalist Pierre Tristam reports the true cost is closer to $19 billion at most. My own estimates put fraud costs between $14-$30 billion.

Share Your Opinion - Should Healthcare Be Reformed

Read more...