Global Financial Crisis (10 Viewers)
- Thread starter Dostoevsky
- Start date
I'm buyin me a town.Obama says that we should not follow the same economic policies that we have followed before the disaster began in 2007, and since he's taken office, he has taken a different path. How the hell is that true?
The same policies that got us into this mess (cheap credit, low interest rates, increasing current account deficit, et cetera) have been continued under Obama and actually expanded.
So that's just another misrepresentation/lack of understanding from the administration.
The same policies that got us into this mess (cheap credit, low interest rates, increasing current account deficit, et cetera) have been continued under Obama and actually expanded.
So that's just another misrepresentation/lack of understanding from the administration.
Another poor week for job data, and another week of excuses.
Jobless claims rise unexpectedly
PROVIDED BY Reuters - 08:34 AM 02/25/2010
WASHINGTON (Reuters) - The number of workers who filed initial claims for unemployment benefits rose unexpectedly in the latest week to 496,000, a U.S. Labor Department report showed on Thursday.
Analysts surveyed before the report had expected jobless claims to fall to 455,000 from 474,000 the week ended February 13, which was previously reported at 473,000.
A Labor Department official said the unexpected large rise could partly reflect a backlog of claims that were unable to be processed in four Mid-Atlantic and New England states because of heavy snowfall.
The blizzard also likely led to more workers having to file claims because they were unable to work, he said.
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Yeah, blame it on the weather. How original.
This is a horrible number. And with unemployment benefits running out soon, this looks even worse. But the government and media just can't tell you that things aren't getting any better, can they.
The lifeboats are full and our stern is completely submerged. Mayday, mayday, mayday...
Jobless claims rise unexpectedly
PROVIDED BY Reuters - 08:34 AM 02/25/2010
WASHINGTON (Reuters) - The number of workers who filed initial claims for unemployment benefits rose unexpectedly in the latest week to 496,000, a U.S. Labor Department report showed on Thursday.
Analysts surveyed before the report had expected jobless claims to fall to 455,000 from 474,000 the week ended February 13, which was previously reported at 473,000.
A Labor Department official said the unexpected large rise could partly reflect a backlog of claims that were unable to be processed in four Mid-Atlantic and New England states because of heavy snowfall.
The blizzard also likely led to more workers having to file claims because they were unable to work, he said.
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Yeah, blame it on the weather. How original.
This is a horrible number. And with unemployment benefits running out soon, this looks even worse. But the government and media just can't tell you that things aren't getting any better, can they.
The lifeboats are full and our stern is completely submerged. Mayday, mayday, mayday...
WASHINGTON (MarketWatch) - U.S. nonfarm payrolls declined for the 25th time in the past 26 months, falling by 36,000 in February to 129.5 million, the Labor Department estimated Friday. Job losses were concentrated in construction, schools, retail and publishing. Manufacturing jobs rose by 1,000, the second increase in a row. The unemployment rate was steady at 9.7%. Severe snow storms during the survey week may have depressed the payroll count, but the Bureau of Labor Statistics said it could not quantify the impact. Total hours worked fell by 0.6%, likely due to weather-related shutdowns. The employment report was better than expected, as economists surveyed by MarketWatch were forecasting a drop of 90,000. They expected the unemployment rate to rise to 9.8%.
http://www.marketwatch.com/story/nonfarm-payrolls-fall-36000-jobless-rate-97-2010-03-05
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Well, not "as bad as expected", whatever that means, in terms of hard employment numbers that are supposedly accurate.
But what the hell, hours worked fell 0.6% due to "weather"? I understand that we had some massive Nor'Easters during the past month, but that contained to only a few states. Methinks that it's not just because of the weather, which is an easy excuse to use.
http://www.marketwatch.com/story/nonfarm-payrolls-fall-36000-jobless-rate-97-2010-03-05
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Well, not "as bad as expected", whatever that means, in terms of hard employment numbers that are supposedly accurate.
But what the hell, hours worked fell 0.6% due to "weather"? I understand that we had some massive Nor'Easters during the past month, but that contained to only a few states. Methinks that it's not just because of the weather, which is an easy excuse to use.
'Never seen anything like it'
Commentary: Wall Street is far more upbeat than the typical consumer
ANNANDALE, Va. (MarketWatch) -- "The disparity between hope on Wall Street and malaise on Main Street continues. I have never seen anything like it."
So wrote Ned Davis earlier this week. Davis, of course, is President and Senior Investment Strategist at Ned Davis Research, a quantitative research firm that caters to institutional investors.
Just consider the disparity. On the one hand, Wall Street is positively upbeat. On the other hand, Main Street's malaise is so thick you could cut it with the proverbial knife. Consumer confidence, for example, dropped in February to its lowest level since the early 1980s. ( Read my Feb. 24 column.)
And mutual fund investors continue to be overwhelmingly skeptical of the bull market, having pulled more money out of stock funds over the last year than new money they put in. ( Read my Jan. 13 column.)
This dichotomy is giving contrarians fits. Is the mood out there too positive (which would be bearish), or is it too negative (which would be bullish)?
Based on the several hundred investment advisers I track, I'd have to say that bullish sentiment is approaching dangerously high levels. Consider the Hulbert Stock Newsletter Sentiment Index (HSNSI), which represents the average recommended stock market exposure among a subset of short term stock market timers tracked by the Hulbert Financial Digest.
http://www.marketwatch.com/story/advisory-bullishness-reaching-too-high-levels-2010-03-05
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Well of course Wall Street is more upbeat than mainstreet. They actually have jobs and bonuses. That's no freakin' surprise that they're "upbeat" and think the economy is improving because they live in their own bubble of risk-free trading, risk-free investments, and consequent bailouts.
Typical crap from a bunch of financial terrorists.
Commentary: Wall Street is far more upbeat than the typical consumer
ANNANDALE, Va. (MarketWatch) -- "The disparity between hope on Wall Street and malaise on Main Street continues. I have never seen anything like it."
So wrote Ned Davis earlier this week. Davis, of course, is President and Senior Investment Strategist at Ned Davis Research, a quantitative research firm that caters to institutional investors.
Just consider the disparity. On the one hand, Wall Street is positively upbeat. On the other hand, Main Street's malaise is so thick you could cut it with the proverbial knife. Consumer confidence, for example, dropped in February to its lowest level since the early 1980s. ( Read my Feb. 24 column.)
And mutual fund investors continue to be overwhelmingly skeptical of the bull market, having pulled more money out of stock funds over the last year than new money they put in. ( Read my Jan. 13 column.)
This dichotomy is giving contrarians fits. Is the mood out there too positive (which would be bearish), or is it too negative (which would be bullish)?
Based on the several hundred investment advisers I track, I'd have to say that bullish sentiment is approaching dangerously high levels. Consider the Hulbert Stock Newsletter Sentiment Index (HSNSI), which represents the average recommended stock market exposure among a subset of short term stock market timers tracked by the Hulbert Financial Digest.
http://www.marketwatch.com/story/advisory-bullishness-reaching-too-high-levels-2010-03-05
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Well of course Wall Street is more upbeat than mainstreet. They actually have jobs and bonuses. That's no freakin' surprise that they're "upbeat" and think the economy is improving because they live in their own bubble of risk-free trading, risk-free investments, and consequent bailouts.
Typical crap from a bunch of financial terrorists.
As long as the financial terrorists have a stranglehold over the system, we're in big trouble. They're already quite far in the process of blowing up Greece, and once that job is complete they will shift their "expertise" back West towards the United States. The Euro is currently being targeted, then they'll go back to blowing up the Pound, and then they'll go back to destroying the Dollar.
These terrorists are the number one issue to me. If Obama isn't going to do anything about them, then he's one of them IMO. We need to get people in office who address this issue because our system will fail with all this bezzle going on.
These terrorists are the number one issue to me. If Obama isn't going to do anything about them, then he's one of them IMO. We need to get people in office who address this issue because our system will fail with all this bezzle going on.
*CBO SAYS DEFICIT THIS YEAR TO AMOUNT TO $1.5 TRILLION
*CBO SAYS PUBLICLY HELD DEBT TO GROW TO 90% OF GDP BY 2020
*CBO SAYS OBAMA BUDGET WOULD PRODUCE $9.76 TRILLION IN DEFICITS
Congressional Estimates Show Grim Deficit Picture
By ANDREW TAYLOR
Washington (AP) -- A new congressional report says the
United States' long-term fiscal woes are even worse than
predicted by President Barack Obama's grim budget submission
last month.
The nonpartisan Congressional Budget Office predicts that
Obama's budget plans would generate deficits over the upcoming
decade that would total $9.8 trillion. That's $1.2 trillion <-------oh my!!
more than predicted by the administration.
The agency says its future-year predictions of tax revenues
are more pessimistic than the administration's.
For the ongoing budget year, CBO predicts a record $1.5
trillion deficit. That's actually a little better than
predicted by the White House.
The deficit picture has turned alarmingly worse since the
recession that started at the end of 2007.
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Holy shit. We are so fucked.
*CBO SAYS PUBLICLY HELD DEBT TO GROW TO 90% OF GDP BY 2020
*CBO SAYS OBAMA BUDGET WOULD PRODUCE $9.76 TRILLION IN DEFICITS
Congressional Estimates Show Grim Deficit Picture
By ANDREW TAYLOR
Washington (AP) -- A new congressional report says the
United States' long-term fiscal woes are even worse than
predicted by President Barack Obama's grim budget submission
last month.
The nonpartisan Congressional Budget Office predicts that
Obama's budget plans would generate deficits over the upcoming
decade that would total $9.8 trillion. That's $1.2 trillion <-------oh my!!
more than predicted by the administration.
The agency says its future-year predictions of tax revenues
are more pessimistic than the administration's.
For the ongoing budget year, CBO predicts a record $1.5
trillion deficit. That's actually a little better than
predicted by the White House.
The deficit picture has turned alarmingly worse since the
recession that started at the end of 2007.
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Holy shit.
We are so fucked.Mathematical evidence the US will NEVER pay off its debt
http://www.debtorsprisonblog.org/jo...hematical-perspectiv.html?SSScrollPosition=43
http://www.debtorsprisonblog.org/jo...hematical-perspectiv.html?SSScrollPosition=43
