This past Friday’s unemployment report was truly shocking. The reported drop of 533,000 lost jobs in the month of November was substantially larger than the 350,000 median estimates by many economists and our own estimate of 300,000-400,000 for the month. This level of monthly job loss is greater than was experienced in the last recession of 2001-02 and rivals any of the worst recessions in the post-war period. In addition, the job losses previously recorded for the months of September and October were dramatically revised downward to levels averaging over 350,000 for the two months, 100,000 greater than the average previously reported. Thus, the job market, like much of the rest of the U.S. and international economies has declined severely and precipitously since last summer. But the November unemployment report is far worse than the surface numbers indicate. Yes, the job losses are widespread and worsening in the service sectors as well as manufacturing and construction. This continues the pattern of increased job erosion seen since the second half of 2007. However, the level of 500,000 monthly job losses was not expected to be seen until the first half of next year when it was expected the level of unemployment might be peaking. To be at this level in November when the economy is still declining is daunting and obviously raises the possibility of monthly job losses in the 750,000 range. Such additional job losses would easily take the unemployment rate to 7.5% or higher which would confirm the worst expectations of many economists, including ourselves. But there is something else in the government’s employment report that is causing us to look at unemployment in the current recessionary cycle as unlike anything we have experienced since the Great Depression of the 1930’s. The government report on Friday mentioned that there were 1.9 million people who were available and had looked for work over the past 12 months and not found employment and according to the government’s report “were not counted as unemployed because they had not searched for work in the 4 weeks preceding the employment survey” for November. If we add this 1.9 million to the 10.3 million reported as unemployed in the report, we get an unemployment rate of 7.9% based on a civilian labor force of approximately 155 million per government statistics. We believe this 7.9% level of unemployment is a more accurate measure of job destruction than the reported unemployment rate in the government release. We believe this is validated by the “free fall” of the U.S. economy since the second quarter of this year particularly when measured by consumer spending and retail sales over the past three months. While U.S. GDP contracted at .5% in the third quarter, we believe GDP in the fourth quarter of this year will contract at approximately 5% with another 3%-5% contraction in the first quarter of 2009. We continue to estimate virtually no growth in U.S. GDP in 2008 as economic decline in the second half of this year outweighs the modest growth in the first half. Please see our recent Economic Presentations on our Presentations Page on our website for more detailed analyses, forecasts and conclusions.
Earlier in the week, the National Bureau of Economic Research (NBER), a committee of largely academic economists, that is the official arbiter of economic cycles, declared the U.S. economy has been in recession since December, 2007. It confirms our analysis of the economy in our article, “We Think We Are Here”, March 10, 2008 in which we stated that we thought the economy was entering recession in the first quarter of this year. It was based on a sequence of weak economic data which included increased unemployment over the second half of 2007 and the first quarter of 2008; weakening industrial activity; increased credit losses in the financial system; worsening financial condition of U.S. consumers; spreading real estate weakness from residential to commercial markets; weakening corporate profits and weakening economies overseas. Since we wrote that article, all of these important facets of the economy have steadily deteriorated led by intensified weakness in the consumer sector. We have been concerned about the state of consumer finances for two years and we have consistently written about the housing bubble and overextension of consumer spending versus their income. And we warned about the doomsday scenario of a depleted consumer “knocked out” by a weakening economy leading to unemployment. Likewise we cautioned in our article “Postscripts on the Credit and Private Equity Cycles”, June 24, 2007, that the adverse credit cycle was going to get increasingly worse with dire consequences for the financial sector. In fact our byline on that article was “When a credit cycle turns negative, it does not turn negative a little bit”. Since the summer of 2007, we have witnessed the worst meltdown of the international credit system since the Great Depression of the 1930’s. The responses of world governments and central banks to the increasing credit crisis were traditional post war economic stimuli, i.e. lower interest rates and taxpayer rebate programs. We wrote in several articles, (“Can the Fed Save Wall St.”, Part 1 and 2), August 12, 2007 and September 21, 2007 and “The Treasury Plan. Is this the Solution?” December 7, 2007 the lack of success inherent in those programs given the depleted financial condition of U.S. consumers and the necessity of expunging bad debts off the books of banks and other credit intermediaries. We also believed corporate profits, the backbone of the economic and stock market growth over the 2006-07 period were weakening sooner and faster than most market analysts had expected. But in two articles, “And Then There Was…” , October 21, 2007 and “GE, The Earnings Cycle and Food”, April 14, 2008 we warned about the rapid deterioration in corporate earnings which had been a bulwark in the corporate and stock market renaissance of the 2003-2006 period. Indeed, S & P 500 Index earnings in the third quarter were down over 20% year over year and would have been at an all time low were it not for earnings from the oil industry. So what began as a mild, containable credit air bubble in subprime mortgages has ballooned into a pervasive credit finance meltdown which has resulted in a zero demand environment in both business and consumer sectors. Now, as mentioned above, chronically worsening unemployment threatens to make the current recession deeper and more extended than previously expected. We now believe GDP for the U.S. next year could also be at zero on a December to December basis. That would make U.S. GDP growth for the 2007-2009 periods less than 1% on average for the three years.
As bad as the recession is in the U.S. it has spread in full force overseas as we recounted in our articles “Is This the End”, September 9, 2007 , “The Other Shoe”, January 7, 2008 and our International Economics article, “The Virus Has Spread”, August 6, 2008 and it is worse overseas as we stated in the August 6th commentary. The U.S. recession has suppressed the exports many foreign economies depend upon for their growth, credit losses from international and domestic asset declines have created an international banking crisis, and the collapse of commodity prices has torpedoed the high flying economies selling oil and other industrial and agricultural commodities that led world economic growth since 2004. The results are economic recessions in Western Europe, Japan, Australia and now Canada in addition to the U.S. While not in recession, India and China, the locomotives of world economic growth over the past four years have slowed dramatically to mid single digit rates and in fact have had to institute multi-billion dollar stimulus programs to keep their economic growth from falling further. In addition there are major economic stimulus programs underway in Europe and Japan. The weakness overseas is expected to be a major depressant to world economic growth in 2009.
With most major industrialized and emerging industrialized economies instituting economic stimulus programs to battle the worldwide recession that has taken hold, it is appropriate to evaluate the theory and success of these programs. We have commented in previous articles on the futility of the U.S. rescue programs (“Can the Fed Save Wall St”, Parts 1 & 2, August 12 and September 21, 2007 and “The Treasury Plan. Is This the Solution?”, December 7, 2007) up to the current time. Finally, last March, the U.S. government caught on to the need to remove bad credits from lenders and pump massive amounts of liquidity into the banking system. That restored credit stability within the banking system and then inexplicably, the U.S. government recently switched gears and decided to back consumer loans to mitigate increasing losses. We and a number of other analysts are puzzled by the unevenness of the U.S. government’s response to the current credit crisis. The capital markets have rallied recently hoping the new economic team of President elect Obama will have a more successful program. However, given the aforementioned severe increase in unemployment and the cutback in consumer spending, we believe nothing less than a targeted second consumer rebate program IN ADDITION to a resumption of purchasing bad credits from lenders and capital infusions to the banking industry is the formula for ultimate recovery from this recession. If consumers are expected to consume, they need to get their balance sheets de-leveraged and have enough liquidity to begin to exercise discretionary spending. Giving money to banks and auto companies will not move “goods off the shelves” in the current demand freeze. In the absence of a resuscitated consumer, this recession will last well into next year.
Likewise, the stimulation of overseas economies by government spending programs will have limited success for two major reasons. First, nobody will get exports “cranked up” as long as the U.S., Western Europe and Japan are in recession. Second, the collapse of commodity prices will severely depress the stimulative spending of commodity based economies like Canada, Australia and now the Middle East. So in the end, worldwide economic recovery will depend on the U.S. as it has since World War II. To be sure, the U.S. and foreign governments and their central banks are sparing no expense or spending to cure the worldwide financial crisis and recessions. As a result fiscal budget deficits and increases in national debt will increase substantially over this year and next. We have previously written about the large future cost to U.S. and other credit and currency markets to the deteriorating national balance sheets, particularly for the U.S. Consistent with the worldwide recessions and deteriorating economic outlooks for 2009, worldwide capital markets have virtually collapsed this year. U.S. equity markets are down approximately 40% year to date and overseas equity markets which have outperformed those of the U.S. for the past three years, are down by more than 50%. In addition, international credit markets have been crippled in the non-government sectors by the international banking and mortgage security losses. Now the spread of recession to the corporate sectors have depressed corporate bond prices and increased the spreads over non-government securities. This will continue until economic conditions stabilize. After outstripping all other asset markets over the past four years, the recent collapse in commodity prices has thrown previous profits in commodity assets into big losses since the summer. In addition, one of the biggest capital market casualties this year has been the hedge fund industry. After excessive proliferation over the past four years, a “shakeout” of this industry was inevitable. The demise of leveraged derivatives, the collapse of equity and non-government bond markets, the cutoff of bank credit and finally a stampede of redemptions by investors have caused hedge funds to sell marketable assets further depressing capital markets and have resulted in an increasing number of hedge funds to close. In addition, the “drying up” of credit and the erosion of corporate profitability has put an end to the leveraged buyout mania of private equity funds. We had warned about the speculative excesses of the merger and acquisition craze in our article “Caution: Asset Bubble Building”, November 19, 2006 and the demise of this cycle is creating quite a bit of pain for the managements and investors in these firms who have “overpaid” with high amounts of leverage for firms that are now “reeling” in this recession. As a result of the credit and capital markets meltdown will be a new era of regulation, transparency and more financial discipline in investing. The attrition and change in hedge fund and private equity strategies is positive for sound investment in these sectors going forward. In fact we believe a shift of private equity firms to infrastructure investment is very attractive for investors.
Going forward, we view worldwide equity markets, particularly U.S. equity markets, as much undervalued looking forward 2-3 years. Many market analysts are increasingly of the opinion that much of the bad economic news is already known and discounted in the U.S. stock market. However, our more pessimistic outlook on unemployment and the uncertainty of a more successful economic rescue program add to the continued downside risk to U.S. and overseas equity markets. As a result, the risk in equity markets at this juncture is that the U.S. recession lasts longer than calendar 2009 and is more severe in terms of corporate earnings declines and failures. For bond markets, there is more risk in that this is still a credit erosion cycle. Non-government bonds will continue to sell at inflated spreads over U.S. Treasuries until the recession bottoms. Longer term, we believe there will be a dramatic increase in interest rates as economic and financial conditions stabilize and then improve in the 2009-2011 period. The huge financing of the current economic stimulus and recovery programs will necessitate large bond offerings that will cause a large increase in yields from current levels. Commodities and commodity stocks will be depressed for most of 2009, reaffirming our economic forecast in our August 11, 2008 article on the “Dollar, Commodities and Geo-Politics”. We would still maintain a defensive posture in regards to capital asset strategy with well above normal cash positions. We would avoid fixed income instruments, particularly sovereign debt. There are some attractive fixed income opportunities in municipal debt markets but here also selectivity and credit due diligence is required. State and local governments are another big casualty of this recession and their creditworthiness is being increasingly strained. Downgrades in municipal credits are to be expected over the next two years. Once the current economic cycle bottoms, we expect huge stock market rallies led by U.S. equities and followed subsequently by overseas markets. We continue to be attracted to infrastructure investment as the long term need for infrastructure upgrade and expansion is large. Other sectors we view as attractive for investment include electric power generation, energy conservation, agriculture, water conservation and development, healthcare and education overhaul.
We invite questions regarding our current views and forecasts of the economy and capital markets for the remainder of this year and next and the longer term economic and capital market outlooks
About the Author
Morris Segall, President of SPG Trend Advisors, is an author, financial industry expert and investment adviser with more than 25 years of experience dedicated to capital markets strategy, global economic trends and institutional wealth management for entities with more than $1 billion in assets. Before co-founding SPG Trend Advisors, Mr. Segall was Senior Vice President at Mercantile Bank and Trust Company and at Mellon Financial Corporation. Prior to that, he was founder and CEO of Segall Financial Management, Inc.
Known for his well-researched and astute financial analyses and forecasts of global economic and geo-political market forces, Mr. Segall has been a guest commentator on Neil Cavuto’s popular Fox News financial show and has been interviewed by the Wall Street. Transcript and other news media. He authored Sea Change, a financial newsletter focusing on global economic, geo-political and capital market issues and trends.
A frequent speaker at financial forums, Mr. Segall has addressed organizations including Vistage, TMI Executive Resources, the Beard Miller Company, the Greater Baltimore Technology Council and the Urban Land Institute, providing valuable insights into global market conditions, based on his extensive market research.
Mr. Segall is a graduate of the University of Baltimore, a Chartered Financial Analyst and Chartered Investment Counselor. His professional affiliations include the: CFA Institute, Baltimore CFA Society and Investment Advisor Association.
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The history and impact of the new global economy are made clear–and compelling–in Commanding Heights: The Battle for the World Economy. This three-part, six-hour documentary does an astonishingly thorough job of dissecting and explaining macroeconomics and their current political and social importance without ever causing a loss of consciousness for the viewer. Part 1, The Battle of Ideas, chron…
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See how industrialization, urbanization and consumerism led to the Stock Market Crash of 1929. Learn about FDR’s New Deal reforms – the WPA, TVA and the SEC – and listen as Roosevelt reassures Americans during a Fireside Chat. Discover how WWII’s wartime economy ended the Depression, initiating unprecedented economic growth and launching the U.S. into the global economy….
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New – Contemporary / American English Jim Braddock is a successful boxer in New York. But in October 1929 the American economy fails, and at the same time Jim starts to lose in the boxing ring. Does the true story of Jim Braddock – the Cinderella Man – have a happy ending?
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New – One of a series of regional guides and part of the “Economist Pocket” series, this book covers the background, politics, economy and brief history of the region and the countries in it.
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Used – The wide-spread fear that the global economy could be marred by another global sovereign debt crisis on top of the deepest recession we have had since the 1930s makes it worthwhile to explore the historical patterns of sovereign default one more time and analyze whether currently almost defaulting countries that are not usually associated with such behavior actually fit them. Traditional measures of default likelihood fail to account for the debt crash of non-emerging European economies,
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Used – In a time of struggling economy, religious intolerance of fundamental Christian beliefs, and amoral political correctness, believers need encouragement for everyday life. In this commentary on 1 and 2 Thessalonians, the author exhorts the reader to continue walking after the things of God, and to trust that one day God will make everything right.
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New – In a time of struggling economy, religious intolerance of fundamental Christian beliefs, and amoral political correctness, believers need encouragement for everyday life. In this commentary on 1 and 2 Thessalonians, the author exhorts the reader to continue walking after the things of God, and to trust that one day God will make everything right.
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Used – In a time of struggling economy, religious intolerance of fundamental Christian beliefs, and amoral political correctness, believers need encouragement for everyday life. In this commentary on 1 and 2 Thessalonians, the author exhorts the reader to continue walking after the things of God, and to trust that one day God will make everything right.
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10 Economy Knee Boot
$1.99
New – 10 Insider Secrets to a Winning Job Search offers a complete step-by-step roadmap on how to get the job you want–fast–even in tough times! This book will motivate you, increase your self-confidence, and show you how to sell yourself so companies want to hire you. You’ll have an unfair advantage when searching for a job! Todd Bermont shares with you the secrets he has learned to find a job in any economy, secrets that he used to get six job offers his senior year of college, to land three
$1.99
Used – 10 Insider Secrets to a Winning Job Search offers a complete step-by-step roadmap on how to get the job you want–fast–even in tough times! This book will motivate you, increase your self-confidence, and show you how to sell yourself so companies want to hire you. You’ll have an unfair advantage when searching for a job! Todd Bermont shares with you the secrets he has learned to find a job in any economy, secrets that he used to get six job offers his senior year of college, to land thre
$7.08
Used – Three hours–that’s all it takes to discover one’s ideal job, even in today’s economy. This self-paced workshop helps readers find a job they can actually enjoy, while earning the money they deserve. (Careers/Job)
$9.62
New – Three hours–that’s all it takes to discover one’s ideal job, even in today’s economy. This self-paced workshop helps readers find a job they can actually enjoy, while earning the money they deserve. (Careers/Job)
$26.14
New – A veritable “Globalization for Dummies,” 10 REASONS TO ABOLISH THE IMF lays bare the most common myths of globalization in a clear and understandable way.Looking with hope to grassroots movement-building on a global scale, Danaher presents ten arguments for abolishing the IMF and World Bank and replacing them with democratic institutions that would make the global economy more accountable to an informed and active citizenry. Conceived as an effort to educate the public about how internat
$7.08
New – A veritable “Globalization for Dummies,” 10 REASONS TO ABOLISH THE IMF lays bare the most common myths of globalization in a clear and understandable way.Looking with hope to grassroots movement-building on a global scale, Danaher presents ten arguments for abolishing the IMF and World Bank and replacing them with democratic institutions that would make the global economy more accountable to an informed and active citizenry. Conceived as an effort to educate the public about how internat
$5.25
New – A veritable “Globalization for Dummies,” 10 REASONS TO ABOLISH THE IMF lays bare the most common myths of globalization in a clear and understandable way.Looking with hope to grassroots movement-building on a global scale, Danaher presents ten arguments for abolishing the IMF and World Bank and replacing them with democratic institutions that would make the global economy more accountable to an informed and active citizenry. Conceived as an effort to educate the public about how internat
$26.14
Used – A veritable “Globalization for Dummies,” 10 REASONS TO ABOLISH THE IMF lays bare the most common myths of globalization in a clear and understandable way.Looking with hope to grassroots movement-building on a global scale, Danaher presents ten arguments for abolishing the IMF and World Bank and replacing them with democratic institutions that would make the global economy more accountable to an informed and active citizenry. Conceived as an effort to educate the public about how interna
$26.14
Used – A veritable “Globalization for Dummies,” 10 REASONS TO ABOLISH THE IMF lays bare the most common myths of globalization in a clear and understandable way.Looking with hope to grassroots movement-building on a global scale, Danaher presents ten arguments for abolishing the IMF and World Bank and replacing them with democratic institutions that would make the global economy more accountable to an informed and active citizenry. Conceived as an effort to educate the public about how interna
$10.35
New – Filled with savvy tips on how to live, eat, shop, and have fun on a small budget, this work compiles the best ideas for living the good life in a bad economy. 40 color illustrations.
$9.25
Used – Filled with savvy tips on how to live, eat, shop, and have fun on a small budget, this work compiles the best ideas for living the good life in a bad economy. 40 color illustrations.
$0.99
Used
$1.99
Used
$59.63
New – The greatest challenge of our time is to build a world based on the sustainable use of renewable power. Our massive dependence on fossil fuels has upset the very climatic system that made human evolution possible. The global economy and its financial system are in jeopardy, running hot on overtly cheap yet increasingly costly and fast depleting oil. A 100 per cent renewable world is seen by many as an impossible dream in anything but the very long term. But not only do a growing number of
$10
Used – The greatest challenge of our time is to build a world based on the sustainable use of renewable power. Our massive dependence on fossil fuels has upset the very climatic system that made human evolution possible. The global economy and its financial system are in jeopardy, running hot on overtly cheap yet increasingly costly and fast depleting oil. A 100 per cent renewable world is seen by many as an impossible dream in anything but the very long term. But not only do a growing number of
$59.63
Used – The greatest challenge of our time is to build a world based on the sustainable use of renewable power. Our massive dependence on fossil fuels has upset the very climatic system that made human evolution possible. The global economy and its financial system are in jeopardy, running hot on overtly cheap yet increasingly costly and fast depleting oil. A 100 per cent renewable world is seen by many as an impossible dream in anything but the very long term. But not only do a growing number of
$49.2
New – The greatest challenge of our time is to build a world based on the sustainable use of renewable power. Our massive dependence on fossil fuels has upset the very climatic system that made human evolution possible. The global economy and its financial system are in jeopardy, running hot on overtly cheap yet increasingly costly and fast depleting oil. A 100 per cent renewable world is seen by many as an impossible dream in anything but the very long term. But not only do a growing number of
$13.56
100 Ways to Profit in a Volatile Economy
$1.61
Used – 100 battle-tested business strategies and new initiatives from the American Recovery and Reinvestment Act of 2009
$4.8
New – 100 battle-tested business strategies and new initiatives from the American Recovery and Reinvestment Act of 2009
$7.53
Used
$6.21
Used
$5
Used
$7.59
Used
$7.77
Used
$6.21
Used
$1.99
Used
$0.99
Used – Vividly illustrated, this lively book presents the first in-depth study of the traveling salesman, illuminating his role in American culture from 1830 to 1920. Drawing on letters, diaries, and autobiographies, as well as on literary works by Crane, Dreiser, Lewis, and Miller, Spears examines the impact of the commercial traveler both on the national market economy and on American imagination.
$1.49
Used – Vividly illustrated, this lively book presents the first in-depth study of the traveling salesman, illuminating his role in American culture from 1830 to 1920. Drawing on letters, diaries, and autobiographies, as well as on literary works by Crane, Dreiser, Lewis, and Miller, Spears examines the impact of the commercial traveler both on the national market economy and on American imagination.
$65.92
New – Vividly illustrated, this lively book presents the first in-depth study of the traveling salesman, illuminating his role in American culture from 1830 to 1920. Drawing on letters, diaries, and autobiographies, as well as on literary works by Crane, Dreiser, Lewis, and Miller, Spears examines the impact of the commercial traveler both on the national market economy and on American imagination.
$4.63
New – Vividly illustrated, this lively book presents the first in-depth study of the traveling salesman, illuminating his role in American culture from 1830 to 1920. Drawing on letters, diaries, and autobiographies, as well as on literary works by Crane, Dreiser, Lewis, and Miller, Spears examines the impact of the commercial traveler both on the national market economy and on American imagination.
$72.92
New – Vividly illustrated, this lively book presents the first in-depth study of the traveling salesman, illuminating his role in American culture from 1830 to 1920. Drawing on letters, diaries, and autobiographies, as well as on literary works by Crane, Dreiser, Lewis, and Miller, Spears examines the impact of the commercial traveler both on the national market economy and on American imagination.
$33.12
Used – 100+ tasty $10 meals is an essential cookbook for every household. We all need recipes for affordable meals we can manage to make on a week night, that the household will love and that use ingredients we already have. Seasonal vegetables, inexpensive staples and a small amount of good-quality lean protein, teamed with a delicious seasoning – these are the keys to culinary economy for busy cooks. So the recipes in this book are useful not only for families, but for flatters, students and
$33.12
New – 100+ tasty $10 meals is an essential cookbook for every household. We all need recipes for affordable meals we can manage to make on a week night, that the household will love and that use ingredients we already have. Seasonal vegetables, inexpensive staples and a small amount of good-quality lean protein, teamed with a delicious seasoning – these are the keys to culinary economy for busy cooks. So the recipes in this book are useful not only for families, but for flatters, students and r
$2
Used – Imagine trying to capture the mood, the zeitgeist, the face of the new, revitalized New York City at the turn of the millennium, brimming with confidence, self assurance, and immense satisfaction with the way things are going: with the city, with the economy, with one’s prospects in a city remade by a bullish Wall Street and the redoubtable Mayor Rudolph Giuliani. Try capturing this in a picture, a composite picture…in the heart of New York….Photographer Neil Selkirk has done just tha
$7.76
New – Imagine trying to capture the mood, the zeitgeist, the face of the new, revitalized New York City at the turn of the millennium, brimming with confidence, self assurance, and immense satisfaction with the way things are going: with the city, with the economy — a city remade by a bullish Wall Street and the redoubtable Mayor Rudolph Giuliani.Tibor Kalman, famed designer and consulting art director for the 42nd Street Development Project, commissioned Selkirk to complete such a task. The pu
$2.69
Used – Crammed full of facts and tips, “1001 Little Ways to Spend Less and Live Well” will soon set you on the road to a happier and healthier bank balance and get your financial life in control, helping to give you financial stability in an unstable marketplace. You will learn how to create more money-making opportunities, how to cut back on nonessentials, and find the best bargains in everything from clothing to food to electronic goods. An essential guide to surviving in today’s economy, the
$11.96
New – Crammed full of facts and tips, “1001 Little Ways to Spend Less and Live Well” will soon set you on the road to a happier and healthier bank balance and get your financial life in control, helping to give you financial stability in an unstable marketplace. You will learn how to create more money-making opportunities, how to cut back on nonessentials, and find the best bargains in everything from clothing to food to electronic goods. An essential guide to surviving in today’s economy, the b
$5.97
New – Crammed full of facts and tips, “1001 Little Ways to Spend Less and Live Well” will soon set you on the road to a happier and healthier bank balance and get your financial life in control, helping to give you financial stability in an unstable marketplace. You will learn how to create more money-making opportunities, how to cut back on nonessentials, and find the best bargains in everything from clothing to food to electronic goods. An essential guide to surviving in today’s economy, the b
$11.93
New – Crammed full of facts and tips, “1001 Little Ways to Spend Less and Live Well” will soon set you on the road to a happier and healthier bank balance and get your financial life in control, helping to give you financial stability in an unstable marketplace. You will learn how to create more money-making opportunities, how to cut back on nonessentials, and find the best bargains in everything from clothing to food to electronic goods. An essential guide to surviving in today’s economy, the b
$1.99
Used – Hiring the right people is critical to maintaining a competitive edge in today’s economy. However, many employers repeat the same hiring mistakes that can be very costly to their organizations. Based on interviews with kev human resource professionals, this book identifies 101 hiring mistakes employers make — from asking the wrong questions to failing to verify credentials. Each mistake is followed by advice from seasoned HR professionals who share their insights into how to avoid such m
$59.11
101 Trends Every Investor Should Know about the Global Economy
$1.99
Used – Distilling information on foreign countries and providing cutting-edge commentary and analysis, “101 Trends” presents key economic stats their interpretations. 101 charts, graphs, & tables.
$34.98
New – Distilling information on foreign countries and providing cutting-edge commentary and analysis, “101 Trends” presents key economic stats their interpretations. 101 charts, graphs, & tables.
