ragerunner

President Obama decided to deploy another 50,000 troops to Afghanistan to fight that expensive war that Bush had botched. We were still fighting Bush's war in Iraq until one year ago. Those wars cost a lot of money. Income tax receipts to the federal treasury decreased and that added to the deficit. Millions of people were kept in their homes by unemployment insurance. Unemployment payments, Medicaid, and food stamps added to the deficit. The "prescription drug program" Bush launched was unfunded and added to the deficit. You Republicans like to act like none of that would have happened if your "MBA President" had still been running things for the last four years. If we had not been making support payments like unemployment insurance, families would not have been able to keep their homes and dumped them on the market or been foreclosed upon. The real estate market would have been in a deeper hole at a time when " banks weren't lending". The US GDP would have decreased annually instead of getting the modest growth that occurred. Something tells me that you have not been reading the same newspapers that I have. I will not engage in a political conversation on this thread. I am not a Republican or a Democrat and believe both parties are a mess and are owned by Wall Street and big business. Both groups continue to line Wall Street pockets and the banking groups. In my book, once you try and turn economics just into a political conversation you have already missed what is really going on.

In the 'good ole days' the taxpayer was not the one on the hook. Also there is a difference between debt that is being taken on a balance sheet and debt that goes into the loss column. The post above are more about debt that is being taken on, not just about losses.

Speaking of debt that is being taken on by Freddie and Fannie and the taxpayer. It is actually a very simple game, the banks make money by dumping the debt/risk onto the taxpayer backed agencies. It is a shame that most American's have no idea what is going on. Banks book record profits off Fannie and Freddie "FORTUNE -- Bank executives ought to be picking out nice holiday gifts for Fannie Mae and Freddie Mac. Financial firms have made a mint this year offloading home loans on the giant government-backed mortgage insurers. In the third quarter, bank profits from that business hit an all-time high." "Much of the improvement, though, appears to be coming from loans sales, and much of those profits appear to be coming from the mortgage business. Wells Fargo (WFC), for instance, made $248 million selling residential home loans predominantly to Fannie and Freddie in the third quarter. That compares to a loss of $75 million for all other loan sales." http://finance.fortune.cnn.com/2012/12/04/bank-profits-fannie-freddie/?source=yahoo_quote

Freddie and Fannie debt as of the 2008 takeover and its just keeps getting bigger as it supports more and more of the housing market. All backed now by the US taxpayer. "The two GSEs have outstanding more than US$ 5 trillion in mortgage backed securities (MBS) and debt; the debt portion alone is $1.6 trillion." http://en.wikipedia.org/wiki/Federal_takeover_of_Fannie_Mae_and_Freddie_Mac

The Federal Reserve is the central banking system of the United States. While people may debate its constitutionality there is no doubt that its debts are backed by the United States (taxpayer). Even if its debt are put into a different column on the United States governments spreadsheet. Freddie and Fannie are now publicly owned by the US and its debts are backed by the United States (taxpayer). This backing has been affirmed by the taxpayer funded bailout(s) it has received and will receive in the future. (Matter of fact, there has been recent news reports that in 2013 they make as for more taxpayer money.) However you wish to look at things the "Debt owned by the public jumped to $10.1 trillion in January 2012 from $5.75 trillion in January 2009." (It took decades for the US debt to rise to $5.75 trillion, but only 3 years to almost double it. All of this happened after TARP and other official bailouts were basically over.)

When you focus on little things like TARP you miss the real growth in taxpayer/public backed debt/stimulus. This is not something that is now over, it's growing everyday at an incredible rate. There is no way this type of growth in debt will not have negative consequences in the future. One hand offers and the other hand buys. But at the end of the day the same 'person' (US government/taxpayer) owes the debt. Treasury Scarcity to Grow as Fed Buys 90% of New Bonds "Even as U.S. government debt swells to more than $16 trillion, Treasuries and other dollar fixed- income securities will be in short supply next year as the Federal Reserve soaks up almost all the net new bonds." "Gross U.S. borrowing through Treasury sales rose to more than $2.1 trillion in each of the last three years from $922 billion in 2008, according to government data. Debt owned by the public jumped to $10.1 trillion in January 2012 from $5.75 trillion in January 2009." "Programs to pay for the bailout of the financial system, an extension of unemployment benefits and to bolster housing helped caused the size of the U.S. taxable debt market to swell 27 percent since 2007 to $31.3 trillion, according to Nomura Holdings Inc. The figures exclude money-market securities such as commercial paper." http://www.bloomberg.com/news/2012-12-03/treasury-scarcity-to-grow-as-fed-buys-90-of-new-bonds.html

This program that was just started will add almost 500 billion to the Feds balance sheet over the next 12 months. Also the FEDs balance sheet has grown by $2 trillion dollars and is still growing today and into the future. US Fed balance sheet to grow 5% to $2.9 trillion end-2012 - Cleveland Fed study "The balance sheet of the U.S. Federal Reserve will expand about 5 percent to around $2.9 trillion by the end of 2012 as a result of its latest plan to purchase additional mortgage-backed securities (MBS), according to a study by the Federal Reserve Bank of Cleveland. The Federal Reserve's policy-making body, the Federal Open Market Committee (FOMC), decided on Sept. 13 to expand its purchase of assets to strengthen the U.S. economy and improve the jobs market, a move known as QE3 (Quantitative Easing 3). The Federal Reserve's balance sheet was just under $900 billion in early 2008 but it has expanded to just over $2.8 trillion currently, following earlier rounds of purchases of assets, such as Treasury bonds, MBSs and other debt issued by government agencies. Under the latest asset purchase program, the Federal Reserve will purchase $40 billion of agency MBSs a month." http://www.centralbanknews.info/2012/09/us-fed-balance-sheet-to-grow-5-to-29.html After the bailout: few fans but no fix for Fannie and Freddie "But more dramatic actions could be politically treacherous in an election year. Home buyers still rely on the government backstop in nine of 10 new mortgages, and the fragile market must be weaned slowly from its dependence on federal programs providing financial backing." http://www.reuters.com/article/2012/04/23/us-usa-housing-idUSBRE8350MS20120423 These are just two of the programs currently being done to stimulate the economy with more debt to manipulate the housing market. The first one is a QE program and the other one is a backdoor stimulus program. This brings up the question, should the taxpayer be used to manipulate homes sales and home prices? The growth in these two programs alone will/have been well over a trillion dollars (and will be next year as well). Maybe its worth it? If it wasn't for the growth in RE construction and sales GDP would have been negative in the 3rd quarter. Maybe the US economy has to have easy, cheap debt or it can't grow? Even with these efforts 3rd quarter GDP looked like this: "A closer look at the report shows consumer spending, the biggest part of the economy, was revised downward to a 1.4 percent pace, the slowest in more than a year. Moreover, a big chunk of the pickup in growth came from a stronger-than-projected buildup of inventories, which poses a potential headwind for this quarter." "Wage gains also were revised downward for the past two quarters, helping explain why American consumers may have restrained purchases and hardly encouraging for the outlook in coming months unless the labor market begins to show faster Among the other not-so-rosy details, business investment in equipment and software fell instead of being unchanged last quarter, the GDP revisions showed. And while exports expanded, the pace was the weakest in three years. That leaves housing as the one silver lining: growth in residential investment almost matched the previous estimate." http://go.bloomberg.com/political-capital/2012-11-29/gdp-pushed-up-yet-look-closer/

The "quantitative easing" by the Federal Reserve does not cost "the US Treasury". A trillion dollars of stimulus was spent one year, in 2009, and has discontinued. The TARP bank bailouts cost the public about $60 billion and that is over, too. What stimulus to get "a low positive GDP" is adding trillions of debt per year? I am sure that extended unemployment benefits and food stamps are not a trillion dollars per year. It cost the FEDs and at the end of the day the taxpayers does give support to that institution's balance sheet. Also the FEDs are buying the treasury debt to keep interest rates low. We are also on the hook for billions as the taxpayer now backstops Freddie and Fannie for every 9 out of 10 home loans now being given out.

Apparently, for some, happiness is based on economic disaster. Or at least reading articles about it! To funny. You act like the data I post is made up by me. I guess you should avoid Bloomberg news, Marketwatch, the Telegraph and other such publications that make up most of the posts. Along with the ISM government release, the employment reports, GDP, Freddie and Fannie reports, the growth in the Federal debt, etc. Because if you avoid these things it will magically turn to wonderful fairy dust and it will not have any impact on you or others. I am sure the 10,000 of thousands that have lost their jobs over the last month or two, that I have been posting about, probably think this stuff is a little bigger deal. I remember all the comments in the first housing/economic thread that the info or viewpoint was just to much doom and gloom, this info can't be right, until we ended up in the greatest recession since the great depression and millions lost their homes, jobs, etc. Now here we are 5 years later and the citizens of this country must add billions/trillions in debt every year just to get a very low positive GDP print. I think that is a real issue.

ISM index drops to 49.5% in November "WASHINGTON (MarketWatch) - U.S. manufacturers contracted in November and activity fell to the lowest level since July 2009, as new orders sank and employment plans were scaled back, according to the closely followed ISM index." http://www.marketwatch.com/story/ism-index-drops-to-495-in-november-2012-12-03?dist=lcountdown U.S.construction spending jumps 1.4% in October "WASHINGTON (MarketWatch) - Outlays for U.S. construction projects surged in October, the Commerce Department reported Monday." http://www.marketwatch.com/story/usconstruction-spending-jumps-14-in-october-2012-12-03 Euro-zone manufacturing shrinks for 16th month "FRANKFURT (MarketWatch) -- Manufacturing activity across the 17-nation euro zone contracted for a sixteenth consecutive month in November, according to the final reading of the Markit purchasing managers' index, or PMI, for the sector released Monday. Manufacturing PMI came in at 46.2, matching a preliminary estimate, and marking the sixteenth consecutive month the index has posted a reading below the 50.0 level, signaling a contraction in activity." http://www.marketwatch.com/story/euro-zone-manufacturing-shrinks-for-16th-month-2012-12-03 Loss of income caused by banks as bad as a 'world war', says BoE's Andrew Haldane "The economic impact of the global financial crisis has been as bad as a world war and as a result public anger at banks was reasonable and understandable, said Andrew Haldane, a senior Bank of England official. "If we are fortunate, the cost of the crisis will be paid for by our children. More likely it will still be being paid for by our grandchildren." http://www.telegraph.co.uk/finance/financialcrisis/9719300/Loss-of-income-caused-by-banks-as-bad-as-a-world-war-says-BoEs-Andrew-Haldane.html And a quick look at the political 'white noise' of the day. Blah, Blah, Blah. Republicans, Democrats play political dare ahead of more fiscal talks this week Read more: http://www.foxnews.com/politics/2012/12/03/geithner-democrat-fiscal-plan-in-detailed-and-balanced/#ixzz2E0YXh6yr Dollar at Risk From Budget Squabbling http://online.wsj.com/article/SB10001424127887323401904578156702917139468.html?mod=googlenews_wsj

Hopefully, happiness is not based off of economic success (as a country and/or as an individual).

A list of some of the job cut annoucements just over the last couple of days. LivingSocial expected to lay off 400 in U.S. http://www.bizjournals.com/washington/blog/techflash/2012/11/major-layoffs-set-for-livingsocial.html Body armor manufacturer in Eden to lay off 280 employees http://myfox8.com/2012/11/29/body-armor-manufacturer-in-eden-to-lay-off-280-employees/ Hundreds of SBB&T Employees Being Laid Off "Up to 600 bank employees between Ventura and San Jose could lose their jobs." http://www.keyt.com/news/local/Santa-Barbara-Bank--Trust-Employees-on-Notice-181384731.html Northrop Grumman to cut 200 jobs at two sites "Northrop offers voluntary buyouts to workers at its electronics division complexes in Woodland Hills and Salt Lake City amid efforts to cut the defense budget." http://www.latimes.com/business/la-fi-northrop-job-cuts-20121130,0,593340.story Citigroup Securities Unit Said to Cut Bonuses, 150 Jobs http://www.businessweek.com/news/2012-11-29/citigroup-said-to-pare-bonuses-as-investment-bank-cuts-150-jobs

U.S. consumer spending drops in October Incomes flat as Hurricane Sandy disrupts work routines "If the effects of Sandy are discounted, however, the government’s spending and incomes report was still disappointing, especially after September’s strong gains, economists say." http://www.marketwatch.com/story/us-personal-spending-drops-in-october-2012-11-30 More stuff sitting in the warehouse, consumer spending is starting to drop, business investment is falling and income growth was revised downward. The strength, people are buying houses? The first four items on the list do not support long term housing growth. So something will have to give, one way or the other. Its a good thing the taxpayer is back stopping interest rates and home loans or the economy would be well in negative GDP territory. Look for Bernanke to make good on his comment, the other day, about trying to loosen home loan standards to increase home sales or future GDPs are not going to look so good. GDP Pushed Up — Yet Look Closer "The latest figures on third-quarter economic growth are best described by a cliché: The devil is in the details. Gross domestic product accelerated to a 2.7 percent annual rate, revised upward from a 2 percent pace previously reported by the Commerce Department and well above the 1.3 percent gain in the second quarter of 2012." "A closer look at the report shows consumer spending, the biggest part of the economy, was revised downward to a 1.4 percent pace, the slowest in more than a year. Moreover, a big chunk of the pickup in growth came from a stronger-than-projected buildup of inventories, which poses a potential headwind for this quarter." "Wage gains also were revised downward for the past two quarters, helping explain why American consumers may have restrained purchases and hardly encouraging for the outlook in coming months unless the labor market begins to show faster Among the other not-so-rosy details, business investment in equipment and software fell instead of being unchanged last quarter, the GDP revisions showed. And while exports expanded, the pace was the weakest in three years. That leaves housing as the one silver lining: growth in residential investment almost matched the previous estimate." http://go.bloomberg.com/political-capital/2012-11-29/gdp-pushed-up-yet-look-closer/

Here is the latest revised down data, now that the elections are over. September's numbers were revised down noticably as well. Sales of new homes decline 0.3% in October "The sales pace in September was revised down to 369,000 from a prior estimate of 389,000. Economists surveyed by MarketWatch had expected new-home sales in October to remain steady at a rate of 390,000 on more demand and lean inventories. The median sales price in October declined 4.2% to $237,700, and is up 5.7% from October 2011. The supply of new homes increased to 4.8 months at October's sales rate from 4.7 months in September." http://www.marketwatch.com/story/sales-of-new-homes-decline-03-in-october-2012-11-28?link=MW_story_latest_news http://www.zerohedge.com/news/2012-11-28/surprise-right-after-election-new-home-sales-tumble-downward-revised-two-year-high

The Housing Recovery Is Getting Real "Home builders up 2 percent on strong housing starts data. October housing starts at 894,000, the highest level since July 2008. Single-family home starts were basically flat, but there was a big increase in multifamily home starts. Bottom line: The housing recovery is real, and housing starts are approaching the psychologically important 1 million level. This is far below the record of 2.2 million set in 2006, but those were unrealistic levels — the 10-year average is close to 1.2 million units." http://www.cnbc.com/id/49900307 Credit Card debt is rising and HELOC's are back to 2008 levels. This type of debt increase worked out so well last time. Why not try it again?!!! Home Equity Loans Make Comeback Fueling U.S. Spending "Home equity lines of credit that fueled a spending spree during the U.S. property boom are back. After six years of declines, lending for so-called Helocs will rise 30 percent to $79.6 billion in 2012, the highest level since the start of the financial crisis in 2008, according to the economics research unit of Moody’s Corp. Originations next year will jump another 31 percent to $104 billion, it projected." http://www.bloomberg.com/news/2012-11-26/home-equity-loans-make-comeback-fueling-u-s-spending-mortgages.html What is all that new credit card debt and HELOC fueling? The crazy game of debt equals growth surges again. Retailers hail holiday shopping weekend as best ever "The biggest holiday shopping weekend of the season still has one day left, but retailers can already consider it their best yet. More shoppers came out Thanksgiving night, more shoppers hit stores on Black Friday, more shopped online and everyone spent more. The result: more than $59 billion in estimated sales from Thursday through Sunday, according to a BIGInsight survey conducted for the National Retail Federation. That's up from $52.4 billion last year. And all signs point to a huge Cyber Monday, as more consumers turned to their computers or mobile devices to shop during the weekend." http://www.freep.com/article/20121126/BUSINESS07/121126018/Retailers-hail-holiday-shopping-weekend-as-best-ever

Morgan Stanley’s Doom Scenario: Major Recession in 2013 "The global economy is likely to be stuck in the “twilight zone” of sluggish growth in 2013, Morgan Stanley has warned, but if policymakers fail to act, it could get a lot worse." "The bank’s economics team forecasts a full-blown recession next year, under a pessimistic scenario, with global gross domestic product (GDP) likely to plunge 2 percent." "Morgan Stanley isn’t alone in warning about a recession next year. Noted bear, Nouriel Roubini warned on Monday that certain key developments would exacerbate the downside risks to global growth in 2013. “Until now, the recessionary fiscal drag has been concentrated in the euro zone periphery and the U.K.. But now it is permeating the euro zone’s core,” Roubini wrote. “And in the U.S., even if President Barack Obama and the Republicans in Congress agree on a budget plan that avoids the looming “fiscal cliff,” spending cuts and tax increases will invariably lead to some drag on growth in 2013 – at least 1 percent of GDP.” http://www.cnbc.com/id/49898014 Dallas Fed Mfg Survey "Perceptions of broader business conditions worsened in November. The general business activity index fell to minus 2.8 from plus 1.8 in October, returning to negative territory. The company outlook index moved down to minus 4.8 in November from plus 2.4 in October, registering its first negative reading since April. Labor market indicators were mixed. The employment index edged up to 6.7 in November, with more than 20 percent of firms reporting hiring compared with 15 percent reporting layoffs. The hours worked index dipped from minus 5.9 to minus 7.1. Indexes reflecting future business conditions fell sharply in November. The index of future general business activity plunged from 16.8 to minus 5.3, its lowest reading in four months. The index of future company outlook dropped from 20.9 to 1.8. Indexes for future manufacturing activity also fell this month but remained positive." http://bloomberg.econoday.com/byshoweventfull.asp?fid=451659&cust=bloomberg-us&year=2012&lid=0

Looks like Argentina may have taken a few pointers from Iceland. Argentina at risk of default after US court ruling on debt "Argentina is at risk of defaulting on $24bn (£15bn) of debt after hedge funds were awarded more than $1.3bn by a US court, a move which its economy minister called “legal colonialism”. “All we need now is for [Judge Thomas] Griesa to send us the Fifth Fleet,” said Hernán Lorenzino, Agentina's economy minister. However, New York District Court Judge Grisa was firm. “Argentina owes this and owes it now,” he said. “After 10 years of litigation this is a just result.” A deadline for payment was set for December 15. Cristina Fernandez de Kirchner, Argentina’s outspoken president, had vowed that the government will not pay “one dollar” to the funds. Payment could divert money from other bondholders, tipping the nation into a technical default." http://www.telegraph.co.uk/finance/financialcrisis/9697724/Argentina-at-risk-of-default-after-US-court-ruling-on-debt.html EU summit: budget talks collapse as David Cameron says 'non' to Brussels Talks on a new European Union budget have collapsed as David Cameron accused Brussels of 'living in a parallel universe' and said there could not be a 'deal at any cost.' "Talks on a new European Union budget have collapsed after David Cameron won German support in a row with France about his demands for more cuts in spending. The Prime Minister accused Brussels of 'living in a parallel universe' and said there could not be a 'deal at any cost.' Speaking at the end of the failed summit Mr Cameron said: "We're not going to be tough on budgets at home just to come here and sign up to an increase." http://www.telegraph.co.uk/news/politics/9699264/EU-summit-budget-talks-collapse-as-David-Cameron-says-non-to-Brussels.html

The revisions to the data produced just before the election are starting to come in. Of note consumer sentiment actually only rose .1, in other words their was no noticable rise in consumer sentiment. But it made for great headlines. NOTE: This is not a political statement. If a republican president had been in office the same would have happened and has in the past. What is interesting about this number is it usually is not revised much in either direction. U.S. initial jobless claims drop to 410,000 Filings remain elevated as Northeast grapples with Sandy fallout "Applications for jobless benefits soared in the prior week as the deadly late-season superstorm slammed into the Northeast. Claims rose a revised 90,000 to 451,000 in the prior week, up from the initial estimate of a 78,000 increase to 439,000." http://www.marketwatch.com/story/us-initial-jobless-claims-drop-to-410000-2012-11-21?dist=lcountdown Final UMich sentiment reading revised lower "WASHINGTON (MarketWatch) -- Consumer sentiment in November gained slightly to a reading of 82.7 but wasn't as strong as initially estimated, the University of Michigan and Thomson Reuters said Wednesday. Initially, they had reported a reading of 84.9 in November from a final October reading of 82.6. Economists polled by MarketWatch had expected a downward adjustment to 84.0." http://www.marketwatch.com/story/final-umich-sentiment-reading-revised-lower-2012-11-21?dist=lcountdown

You mean we have some underlining structural economic issues that have not been solved with bailouts and QE dumps and are creating challenges to growth?!! What a shock. Economy has lost some fundamental pop: Bernanke "WASHINGTON (MarketWatch) — The financial crisis appears to have lowered how quickly the economy can grow in the long term, Fed Reserve Board Chairman Ben Bernanke said Tuesday. Before the crisis hit, the growth rate of potential output was about 2.5%. But evidence indicates that the crisis has cut that rate, Bernanke said Tuesday in a speech at the New York Economic Club." "Josh Shapiro, chief U.S. economist at MFR Inc., said the Congressional Budget Office estimates that potential growth is near 1.6%." http://www.marketwatch.com/story/economy-has-lost-some-fundamental-pop-bernanke-2012-11-20 SEC alleges largest-ever insider-trading scheme CR Intrinsic Investors is owned by Steven A. Cohen’s firm "WASHINGTON (MarketWatch) — A hedge-fund manager and a doctor are at the heart of what securities regulators said Tuesday may be the largest insider-trading scheme ever pursued, a case that now has implicated one of the highest-profile investors on Wall Street." http://www.marketwatch.com/story/sec-alleges-largest-ever-insider-trading-scheme-2012-11-20?dist=afterbell

Oh FFS, I'll take the bait. From 30 seconds of googling below is a sampling from the past three days. Obviously the fiscal cliff is a major wildcard, and things are still messy, but the high doom and gloom ratio here is the very definition of cherry-picked. Housing Market Posts Gains Sales of Previously Owned Homes Rose in October; Supply of Properties Shrinks http://online.wsj.com/article/SB10001424127887324307204578128900029337018.html California posts strong job gains as employers add 45,800 workers http://articles.latimes.com/2012/nov/17/business/la-fi-california-jobs-20121117 GDP Accelerating to 2.9% Helping U.S. Overcome Sandy Woes http://www.bloomberg.com/news/2012-11-19/gdp-accelerating-to-2-9-helping-u-s-overcome-sandy-budg.html Thanks for the post. But I have already posted on most of those items. I always post about GDP and I have dozens of post about the growth in housing and home prices. What I didn't post is the California job increase, which I didn't see. Good find.

Debt crisis: Eurozone remains split on Greek aid - live "Eurogroup leader Jean-Claude Juncker and Finland raise doubts about reaching a deal on Greek aid as eurozone finance minister prepare to meet in Brussels later today." http://www.telegraph.co.uk/finance/debt-crisis-live/9688943/Debt-crisis-Eurozone-remains-split-on-Greek-aid-live.html France's rating downgrade a warning for banks "PARIS, Nov 20 (Reuters) - French banks were reminded of risks to their own growth and credit ratings when Moody's stripped France of its triple-A badge because of an uncertain fiscal and economic outlook." http://www.reuters.com/article/2012/11/20/france-moodys-banks-idUSL5E8MK3XI20121120

Fast food. French fries will outlast everything. There's the wrinkle: "the 40 largest publicly traded companies." And what kinds of businesses create most new jobs? Bad News for Small Business: VC Investments Decline "Recently, we posted here about the growth in angel capital investments. Now, there’s some not-so-good news for small businesses about venture capital. The most recent MoneyTree survey from PricewaterhouseCoopers and the National Venture Capital Association reports that in the third quarter of 2012, VC investments shrunk both in terms of overall dollars (down by 11 percent from the second quarter of 2012) and in terms of deal volume (down by 5 percent from the second quarter of 2012)." http://www.networksolutions.com/smallbusiness/2012/11/bad-news-for-small-business-vc-investments-decline/ Small Businesses Grow Wary, See Fewer Hires, Investments "Confidence among U.S. small businesses cooled in September as fewer companies said they planned to hire or invest in new equipment, a survey found." Read more: Small Businesses Grow Wary, See Fewer Hires, Investments Important: Can you afford to Retire? http://www.moneynews.com/Economy/Small-Businesses-Hires-Investments/2012/10/09/id/459211

Investment Falls Off a Cliff U.S. Companies Cut Spending Plans Amid Fiscal and Economic Uncertainty "U.S. companies are scaling back investment plans at the fastest pace since the recession, signaling more trouble for the economic recovery. Half of the nation's 40 biggest publicly traded corporate spenders have announced plans to curtail capital expenditures this year or next, according to a review by The Wall Street Journal of securities filings and conference calls. Nationwide, business investment in equipment and software—a measure of economic vitality in the corporate sector—stalled in the third quarter for the first time since early 2009. Corporate investment in new buildings has declined." http://online.wsj.com/article/SB10001424127887324595904578123593211825394.html

Nope. But I am listings major job losses. Since the first of September job losses has increase over the last year significantly and these losses will impact job numbers over the next several months. Most of these jobs are also higher paying not just Wal mart type retail jobs. Feel free to post job gains, most that I have seen lately are jobs that are expected to be created by X company over the next X amount of years. Not exactly locked in job growth.

Average US Credit Card Debt Per Borrower up in 3Q "Americans cranked up their use of credit cards in the third quarter, racking up more debt than a year ago, while also being less diligent about making payments on time, an analysis of consumer-credit data shows. The average credit card debt per borrower in the U.S. grew 4.9 percent in the July-to-September period from a year earlier to $4,996, credit reporting agency TransUnion said Monday." http://abcnews.go.com/US/wireStory/average-us-credit-card-debt-borrower-3q-17757527#.UKnETIdfBmo If Bernanke reduces the requirements for home loans this number will go through the roof. Nov. builder sentiment hits six-plus-year peak "The National Association of Home Builders/Wells Fargo housing market index rose 5 points to a seasonally adjusted level of 46, the highest point since May 2006." http://www.marketwatch.com/story/nov-builder-sentiment-hits-six-plus-year-peak-2012-11-19 US taxpayers bail out California homeowners, as banks fail to pay their share "Contrary to what voters were led to believe, California took the unprecedented step this month to give banks and struggling homeowners up to $100,000 in taxpayer funds to reduce underwater mortgages. Originally, banks and lenders were supposed to pay 50 percent of the cost of reducing the principal for those whose homes are worth less than their mortgage. But when the banks refused, California took the controversial step of paying the entire amount, up to $100,000." Read more: http://www.foxnews.com/politics/2012/08/20/us-taxpayers-bailout-california-homeowners-as-banks-fail-to-pay-their-share/#ixzz2CgbgzQE2 United Technologies laying off 500 workers, including 4 in Charlotte area Read more here: http://www.charlotteobserver.com/2012/11/16/3670382/united-technologies-laying-off.html#storylink=cpy Medical giant Stryker cuts 1,170 jobs, citing ObamaCare Read more: http://www.foxnews.com/politics/2012/11/16/medical-supply-giant-stryker-corp-makes-pre-emptive-strike-against-pending/#ixzz2CgdTHNA1 Kaiser Permanente lays off 530 employees in Southern California http://www.presstelegram.com/breakingnews/ci_22014897/kaiser-permanente-lays-off-530-employees-southern-california