ragerunner

Retail sales sparkle in November Signals economy on firmer footing "WASHINGTON (MarketWatch) -- Consumer spending was solid in November, suggesting that the economy is on sounder footing than previously thought." http://www.marketwatch.com/story/retail-sales-sparkle-in-november-2009-12-11 Glad to see numbers are up. But, I don't think its as good as the media would like us to think. The majority of the increase came from Gas. If you take away the gas increase you get about a .6% growth. It was also pointed out in the report that for the quarter retail sales are still below last year (which was terrible). It should be interesting to see the retailers report in January. I don't think they will reflect such strong sales.

Initial jobless claims rise 17,000 to 474,000 Total jobless claims, including extended benefits, top 10 million "WASHINGTON (MarketWatch) -- The number of people filing claims for state unemployment benefits rose by 17,000 to a seasonally adjusted 474,000 in the week ending Dec. 5, while the total number of people claiming benefits of any kind topped 10 million, a sign of very sluggish hiring, the Labor Department reported Thursday." http://www.marketwatch.com/story/initial-jobless-claims-rise-17000-to-474000-2009-12-10-83100 Guess what, the economist were surprised by this. Now there is a shock. Also, the unadjusted umemployment numbers for the Department of Labor shows initial claims at 664,865, up 204,703 from the previous week.

This almost brought tears to my eyes. To hear someone that still has some influence finally tell it like it is. Hopefully more and more of this reality will be presented to Main Street. Ex-Fed chief Paul Volcker's 'telling' words on derivatives industry "The former US Federal Reserve chairman told an audience that included some of the world's most senior financiers that their industry's "single most important" contribution in the last 25 years has been automatic telling machines, which he said had at least proved "useful". Echoing FSA chairman Lord Turner's comments that banks are "socially useless", Mr Volcker told delegates who had been discussing how to rebuild the financial system to "wake up". He said credit default swaps and collateralised debt obligations had taken the economy "right to the brink of disaster" and added that the economy had grown at "greater rates of speed" during the 1960s without such products." http://www.telegraph.co.uk/finance/economics/6764177/Ex-Fed-chief-Paul-Volckers-telling-words-on-derivatives-industry.html

I can only do so much people! Look at it as a last stand.

Gallup: Holiday spending off 21% from 2008 "After a diffident start to the Christmas shopping season, consumers have turned pessimistic — very pessimistic. According to the latest Gallup survey, sales have dropped 21% compared to 2008, a year that was itself a disaster:.." http://content.usatoday.com/topics/article/Organizations/Companies/Gallup/0ffJh2Jebz78E/1 This won't be good for the economic 'rebound'.

The debt concerns me because it will ultimately lead to high cost to brough from other nations to continue our lifestyle. It will also burden the taxpayer soon or later with higher taxes to pay the interest on the debt. While I don't believe we are at default levels yet, countries like England and Japan have debt levels that may lead to such an event. This would shock the world financial system severely.

Here are two very interesting charts to take a look at. The first chart shows how much debt the FEDs (taxpayer) has taken onto the books. http://s.wsj.net/public/resources/images/P1-AS590A_Fed_NS_20091119194042.gif The second chart shows the growth of our debt vs GDP. http://img177.imageshack.us/img177/5528/graphfeddebtrecent.jpg These charts should make the average American very concerned for the long term stability of our country's financials.

That's because of seasonal employment. It'll go back up. It should be interesting to watch since the services sector contracted in November.

Just the tooth fairy I am not sure even this tooth fairy would go for this one.

Jobless rate unexpectedly falls to 10 percent "The U.S. unemployment rate unexpectedly fell to 10 percent in November as employers cut the smallest number of jobs since the recession began, the Labor Department announced Friday morning. The rate had been expected to remain at 10.2 percent, the same as in October, a 26-year high." http://www.ibj.com/jobless-rate-unexpectedly-falls-to-10-percent/PARAMS/article/14942 Wow, what a turn around in our fortunes. :wink: I don't think I have ever seen this type of spread between ADP's data and the FEDs?!!! You know one of two things happened here, either our employment situation really improved or the FEDs are taking the data manipulation to a whole new level.

That is why the 'economist' have become a joke. They have sold their souls to big business and can no long objectively review data and project future data.

I think you left out a 't' in your first line. That extra 't' would help define the Wall Street 'economist' a little better. Butt...butt... butt.... butt....

Productivity surges 8.1 percent, most in 6 years "Productivity surged in the third quarter by the largest amount in six years while labor costs fell. While that indicates inflation is remaining under control, it also signals that workers' wages are getting squeezed, raising doubts about the durability of the economic recovery. The U. S. Commerce Department said Thursday productivity rose at an annual rate of 8.1 percent in July-September period, the biggest jump since 2003, while unit labor costs fell at a 2.5-percent rate." http://www.ibj.com/productivity-surges-81-percent-/PARAMS/article/14893 What is 'good' for Wall Street short-term doesn't always equal something good for main street, short-term and/or long-term. Less employment, lower wages, equals less spending. This 'recovery' has almost no legs.

FDIC reports biggest drop for business loans on record "U.S. banks are earning money again, but they're writing fewer business loans, threatening a fragile economic recovery. "Until small businesses are able to borrow, we can't have a robust economy, because that's your largest source of jobs," says Richard Posner, a law professor at the University of Chicago and a federal circuit judge. The Small Business Administration has said that small businesses created 64% of new jobs in the past 15 years." http://www.usatoday.com/money/industries/banking/2009-11-24-fdic-bank-profits_N.htm It has become very clear Banks are not loaning money to anyone. Not for home loans, business loans, etc. What they are doing is using the taxpayer money to buy stocks, commodities and government debt. All at 0% interest rate. Most people could make money if the money they are getting it basically free. The great American wealth transfer continues on.

You are just to nice. I think they work very hard not to look at X. They knew the number was inflated and it's still inflated. Give them a year or two or three and it will be half what it was originally reported. Its sad, but I will give them one thing, they have been very consistent over the last few years with the process of reporting one number then reducing it before the next number comes out. (Not just GDP, but almost all the data they report.) Sheep, are we awake yet or are the majority of the flock still listing to the bearded shepard tell bedtime stories.

I like it!!!! One sentence and the truth is revealed.

The green build incentives have been adopted.

Economic survey: Job losses to bottom out in 1Q "Economists expect the joblessness that has weighed down the nation's economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey." http://news.yahoo.com/s/ap/20091123/ap_on_bi_ge/us_nabe_survey Lets fix this first quote of the article: Wall Street Voodoo experts looked into their crystal ball hoping that the joblessness that has weighed down the nation's economics might some how, hopefully stop falling in 2010, but their crystal ball clearly says consumers will continue to keep a tight rein on spending, according to a survey completed by those employed by Wall Street financial firms. Anyone else like to take a shot at it?

Panel votes to audit the Fed; cap its spending at $4 trillion Measure would audit the Fed's monetary policies such as interest rates "WASHINGTON (MarketWatch) -- Rep. Ron Paul, who has sought to audit the Federal Reserve for 26 years, has inched ever so much closer to his goal. A key congressional panel on Thursday approved legislation introduced by the Texas congressman that - for the first time in the central bank's 95-year-history -- would require government audits of Federal Reserve monetary policy, as well as how much the central bank has lent and will lend to specific banks. Fed Chief Ben Bernanke and other key members of the Obama administration, including Treasury Secretary Tim Geithner, had vigorously opposed the move." http://www.marketwatch.com/story/panel-votes-to-audit-feds-balance-sheet-2009-11-19 This should be interesting to watch and could have significant inpacts on the way the FEDs do business in the future.

China has now become the biggest risk to the world economy "US unemployment is already 17.5pc under the broad "U6" gauge followed by Barack Obama. Realty Track said that 332,000 properties were foreclosed in October alone. More Americans have lost their homes this year than during the entire decade of the Great Depression. A backlog of 7m homes is awaiting likely seizure by lenders. If you are not paying attention to this political time-bomb, perhaps you should." "The world economy is still skating on thin ice. The West is sated with debt, the East with plant. The crisis has been contained (or masked) by zero rates and a fiscal blast, trashing sovereign balance sheets. But the core problem remains. The Anglo-sphere and Club Med are tightening belts, yet Asia is not adding enough demand to compensate. It is adding supply." http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6575883/China-has-now-become-the-biggest-risk-to-the-world-economy.html This is far from being over, internally in the US or externally on a World stage.

This should help the Bengal's reputation. Nothing like adding someone that has been found guilty for outburst against women and anti-gay slurs.

Most U.S. Stocks Fall as Industrial Production Trails Estimates “This industrial production number is pointing to weak manufacturing in the United States as well as weak demand,” said Chad Morganlander, a money manager in Florham Park, New Jersey, at Stifel Nicolaus & Co., which oversees about $98 billion in client assets. “This could put a wet blanket on the optimists for a day or two.” http://www.bloomberg.com/apps/news?pid=20601087&sid=al0N.nHBofjU&pos=3 Nothing to see here, party on, party on.

So are you saying that companies in general are making better profits than they were in 2008? Because if you look at the spreadsheet of most companies that would not be true.

October retail sales rise 1.4% on rebound in autos, U.S. says Excluding cars, monthly sales increase by 0.2% "Compared with last October, retail sales were down 1.7% to $347.5 billion, while sales excluding autos were down 2.6% to 288.5 billion. The figures are not adjusted for price changes." "Through the first 10 months of 2009, sales have totaled $3.38 trillion, down 8.2% compared with the same period a year earlier." http://www.marketwatch.com/story/retail-sales-rise-14-on-rebound-in-autos-2009-11-16 2008 Oct. $353.6B This type of data continue to show the weakness in the retail industry. While its great to see small improvements over the last few months (they revised September down to get a big October up) we are still well below 2008 data and that data was in the heart of the deepest recession in US history. So how are we still not in a deep recession since retail makes up a large percentage of the US economy and its worse than last year? And this is with all the trillions from the stimulus? Nothing more than FED, Wall Street spin. At this time last year the Dow was at 8,200 with better retail sales data. Now we have a Dow at 10,400 with worse retail sales numbers. Just thinking.

Thanks for putting the thread together.