Why Over 8% Unemployment ?

Why Over 8% Unemployment Could Lie Ahead

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 Published: Monday, 18 Feb 2013 | 6:17 AM ET

By: Matt Clinch News Assistant

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Severe fiscal tightening in the U.S. will lead to no growth or a contraction in the first two quarters of 2013 and will push unemployment over the 8 percent level, according to Lombard Street Research.

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The unemployed look for job opportunities at the South Florida Workforce center in Miami, Florida.

The knock-on effect will mean pain for the business sector, with corporate profits falling after a hit to consumer spending power, the firm said.
"Our view that unemployment could rise above 8 percent and that profits will be squeezed reflects a forecast of nil to negative 2013 (first quarter) growth, and further stagnation in (the second quarter)," a Lombard Street report released on Friday said.
The view contrasts sharply with that of other analysts who are considerably more bullish on the U.S. economy.
Keith McCullough, CEO of Hedgeye Risk Management told CNBC last week that he thinks employment could actually improve below 7 percent by the fourth quarter, adding that from a housing and employment perspective U.S growth is "pretty solid".

Misstep in gun bill could defeat the effort

One of the major gun-control efforts in Olympia this session calls for the sheriff to inspect the homes of assault-weapon owners. The bill’s backers say that was a mistake.

By Danny Westneat

Seattle Times staff columnist

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So these guys in the legislature sign bill without reading them? How irresponsible... (February 16, 2013, by ail) MORE

Perfectly reasonable gun-control is not something that the Democrats are capable of... (February 16, 2013, by Alaskabobc) MORE

Please tell me, Gestapo, what exactly is an "assault-weapon"? (February 16, 2013, by Soarer) MORE

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Forget police drones flying over your house. How about police coming inside, once a year, to have a look around?

As Orwellian as that sounds, it isn’t hypothetical. The notion of police home inspections was introduced in a bill last week in Olympia.
That it’s part of one of the major gun-control efforts pains me. It seemed in recent weeks lawmakers might be headed toward some common-sense regulation of gun sales. But then last week they went too far. By mistake, they claim. But still too far.
“They always say, we’ll never go house to house to take your guns away. But then you see this, and you have to wonder.”
That’s no gun-rights absolutist talking, but Lance Palmer, a Seattle trial lawyer and self-described liberal who brought the troubling Senate Bill 5737 to my attention. It’s the long-awaited assault-weapons ban, introduced last week by three Seattle Democrats.