Here's a great overview of trends and composition of the defecit from 538.  Sort of "economical talk" since Nate Sliver discusses this as a % of GDP, showing the relative impact of spending vis a vis the larger economy.

 

What is Driving the Growth in Government Spending

 

I’ll be looking principally at government spending as a share of the overall economy, specifically as compared to the gross domestic product. In the long run, the overall economic health of the country is the most important constraint on fiscal policy. A growing economy gives us a lot of good choices: maintaining or expanding government programs, cutting taxes or holding them at a moderate level, reducing or managing the national debt. A stagnant economy means that everything gets squeezed.

 

...Silver also looks at the impact of state & local budgets:

 

 

While most discussions of government spending focus on what the federal government spends, state and local governments are a bigger part of the picture than you might think. Their collective spending is now the equivalent of about 15 percent of the gross domestic product, not counting money which is granted to them by the federal government for programs administered by states and localities. (By comparison, federal government spending, including grants to the states and interest on the national debt, has recently been about 24 percent of the gross domestic product.)

 

The states also spend their money much differently than the federal government....

 

(and plenty of neat charts at the link)

 

 

 

 

 

Measure of future growth up 0.5% in December

 

WASHINGTON -- A measure of the U.S. economy designed to signal future activity increased in December from November, suggesting growth may strengthen in 2013.

 

http://www.cleveland.com/business/index.ssf/2013/01/measure_of_future_growth_up_05.html#incart_river_default

 

 

S&P 500 breaks through 1,500, first time since '07

 

NEW YORK  -- The Standard & Poor's 500 index traded above 1,500 for the first time since December 2007 following a sudden drop in claims for unemployment benefits, another sign that the labor market is healing.

 

http://www.cleveland.com/business/index.ssf/2013/01/sp_500_breaks_through_1500_fir.html#incart_river_default

 

 

U.S. jobless claims drop to 5-year low of 330,000

 

WASHINGTON -- The number of Americans seeking unemployment aid fell last week to the lowest level in five years, evidence that employers are cutting fewer jobs and may step up hiring.

 

The Labor Department said Thursday that weekly unemployment benefit applications dropped 5,000 to a seasonally adjusted 330,000. That's the fewest since January 2008.

 

http://www.cleveland.com/business/index.ssf/2013/01/us_jobless_claims_drop_to_5-ye.html#incart_river_default

Measure of future growth up 0.5% in December

 

WASHINGTON -- A measure of the U.S. economy designed to signal future activity increased in December from November, suggesting growth may strengthen in 2013.

 

http://www.cleveland.com/business/index.ssf/2013/01/measure_of_future_growth_up_05.html#incart_river_default

 

 

S&P 500 breaks through 1,500, first time since '07

 

NEW YORK  -- The Standard & Poor's 500 index traded above 1,500 for the first time since December 2007 following a sudden drop in claims for unemployment benefits, another sign that the labor market is healing.

 

http://www.cleveland.com/business/index.ssf/2013/01/sp_500_breaks_through_1500_fir.html#incart_river_default

 

 

 

The stock market is not a very good gauge to use to determine the health of our economy. Its more a gauge about profit margins that frequently come at the expense of main street (job cuts). The DOW is about to break its all time record. Does anyone really believe the actual US or world economy is doing better than any other time in history? Or even better than back in 2006 during the peak of the 'boom'?

U.S. jobless claims drop to 5-year low of 330,000

 

WASHINGTON -- The number of Americans seeking unemployment aid fell last week to the lowest level in five years, evidence that employers are cutting fewer jobs and may step up hiring.

 

The Labor Department said Thursday that weekly unemployment benefit applications dropped 5,000 to a seasonally adjusted 330,000. That's the fewest since January 2008.

 

http://www.cleveland.com/business/index.ssf/2013/01/us_jobless_claims_drop_to_5-ye.html#incart_river_default

 

From the article link above.

 

"The decline may reflect the government's difficulty adjusting its numbers to account for layoffs after the holiday shopping season. Layoffs spike in the second week of January and then plummet. The department seeks to adjust for those seasonal trends, but the figures can still be volatile."

 

They also point out this issue that affected the numbers.

 

"The number of applications was estimated for California, Virginia and Hawaii because of the holiday-shortened week, the Labor Department spokesman also said."

http://www.bloomberg.com/news/2013-01-24/jobless-claims-in-u-s-decrease-prolonging-seasonal-swings.html

Measure of future growth up 0.5% in December

 

WASHINGTON -- A measure of the U.S. economy designed to signal future activity increased in December from November, suggesting growth may strengthen in 2013.

 

http://www.cleveland.com/business/index.ssf/2013/01/measure_of_future_growth_up_05.html#incart_river_default

 

 

S&P 500 breaks through 1,500, first time since '07

 

NEW YORK  -- The Standard & Poor's 500 index traded above 1,500 for the first time since December 2007 following a sudden drop in claims for unemployment benefits, another sign that the labor market is healing.

 

http://www.cleveland.com/business/index.ssf/2013/01/sp_500_breaks_through_1500_fir.html#incart_river_default

 

 

 

The stock market is not a very good gauge to use to determine the health of our economy. Its more a gauge about profit margins that frequently come at the expense of main street (job cuts). The DOW is about to break its all time record. Does anyone really believe the actual US or world economy is doing better than any other time in history? Or even better than back in 2006 during the peak of the 'boom'?

 

Listen up, for those who don't already know:

 

The Dow Jones Industrial Average is a terrible measure of the economy overall. It consists of only the 30 largest (give or take a few) publicly traded companies and it's price weighted. Yuck -- an awful modern financial barometer if I ever saw one. The pros only watch it becuase everybody else does.

Where was anything posted about the Dow Jones?  My link was for the S&P which includes 75% of US equities....

I was agreeing with ragerunner's assessment about the Dow. The S&P is a much better instrument if you ask me.

I was agreeing with ragerunner's assessment about the Dow. The S&P is a much better instrument if you ask me.

 

I still don't believe the S&P gives you an accurate reflection of the economic health of Main Street.

That is why I hardly ever post about the stock market. It is becoming more and more disconnected to what is actually happening to Main Street. Its also probably another big bubble.

 

We have become a country that just blows one big bubble after another.

The Philly index is dropping, the NY index is dropping and now the Richmond and KC indexes go negative as well.

 

Richmond Fed business index falls in January

"WASHINGTON (MarketWatch) - The Richmond Fed's index of manufacturing activity fell in January to negative 12 from 5 in December, the bank said Tuesday. The decline is another sign of weak conditions in the manufacturing sector."

http://articles.marketwatch.com/2013-01-22/economy/36472550_1_business-index-west-virginia-south-carolina

 

 

Kansas City Fed Manufacturing Unexpectedly Falls To -2

Read more: http://www.businessinsider.com/kansas-city-fed-january-2013-1#ixzz2Ivn3KfMT

The next housing bubble is starting to get its legs under it. What a mess.

 

As prices rise, rental home investors seek new markets

"Rapid price increases are forcing real estate investors to shift their focus, and money, to new markets as they scramble to buy more homes to rent."

http://www.usatoday.com/story/money/business/2013/01/21/rental-housing-investors/1851187/

 

 

Manufacturers cutting white-collar jobs now, too

"NEW YORK — Manufacturers have been using technology to cut blue-collar jobs for years. Now, they're targeting their white-collar workers, too."

http://www.wral.com/manufacturers-cutting-white-collar-jobs-now-too/12018324/

I was agreeing with ragerunner's assessment about the Dow. The S&P is a much better instrument if you ask me.

 

I still don't believe the S&P gives you an accurate reflection of the economic health of Main Street.

That is why I hardly ever post about the stock market. It is becoming more and more disconnected to what is actually happening to Main Street. Its also probably another big bubble.

 

 

That's certainly true as well. I simply prefer the 500 as a measure of the market, not the economy as a whole.

A look at the 'rebound' of new home sales. It hard to believe that in some markets new home prices are nearing peak bubble prices again with such low volume taking place. Something tells me there is a good chance some of these buyers today will be underwater in a few years.

Kind of amazing to see what we have gotten for trillions that have been used to spur low interest rates, and back home loans.

 

Source: St. Louis Fed

http://research.stlouisfed.org/fred2/series/HSN1FNSA

^

I dont see any bubble in that chart?  We are bouncing around at a low level, below the two other big postwar recessions...

Where are the new houses reaching bubble prices, actual desirable areas or more cornfield McMansions?

All that happy talk of the EU recovery just keeps getting hit with reality.

 

UK heads for triple dip as GDP contracts 0.3pc

"The UK economy shrank by 0.3pc in the final three months of last year, raising the prospect of a triple dip recession, as Britain’s manufacturers suffered their worst year since the financial crisis."

http://www.telegraph.co.uk/finance/economics/9826019/UK-heads-for-triple-dip-as-GDP-contracts-0.3pc.html

 

 

Britain is experiencing 'worse slump than during Great Depression'

"Britain's recent economic performance is the worst since records began in the pre-Victorian era, experts said today, apart from the two immediate post-war slumps.

Ministers today admitted Britain is facing "very, very grave difficulties" after figures showed the economy did not grow at all in 2012."

http://www.telegraph.co.uk/news/9826857/Britain-is-experiencing-worse-slump-than-during-Great-Depression.html

 

 

Hasbro expects to cut about 550 jobs

http://www.valleybreeze.com/2013/01/25/pawtucket/hasbro-expects-to-cut-about-550-jobs

 

 

3M to Cut 300 Jobs in Restructuring Move

"3M is eliminating 300 jobs as it merges its securities systems division with its traffic safety systems division."

http://tcbmag.com/News/Recent-News/2013/January/3M-to-Cut-300-Jobs-in-Restructuring-Move

 

 

United Airlines to cut 600 jobs

http://www.bellinghamherald.com/2013/01/24/2850956/united-airlines-to-cut-600-jobs.html

 

 

Pentagon laying off 46,000 staff

"The US defence department says it has begun laying off most of its 46,000 temporary employees, as automatic defence budget cuts loom in March."

http://www.bbc.co.uk/news/world-us-canada-21205323

^

I dont see any bubble in that chart?  We are bouncing around at a low level, below the two other big postwar recessions...

 

The bubble seems to be in prices not in actual sales and in investors starting to buy in large quanities. I know here in Denver many areas have seen home prices rebound over the last year by about 10%.

 

I think that is really the point. New home sales are still near all time lows yet prices are rising noticably. Why? Supply and Demand issue? Because in a historic context prices should not be rising at all. Probably should still be falling.

Where are the new houses reaching bubble prices, actual desirable areas or more cornfield McMansions?

 

I guess it depends on your definition of desirable areas. Here in Denver its seems to be in the suburbs as well as the core urban neighborhoods. Of course many of the core urban neighborhoods its about rents not sale prices. In the suburbs it more about sales and not rental prices. (both rent and sale prices are rising)

In some places McMansion areas were so oversupplied (also, other less expensive types of sprawl) that they became very undesrieable.

Housing to drive economic growth (finally!)

 

The bursting of the housing bubble plunged the economy into a recession from which it has yet to fully recover. But economists say this could finally be the year that housing lifts us out of the doldrums.

 

Just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. The rest were split fairly evenly between consumer spending, increased domestic energy production and stimulus from the Federal Reserve as major growth drivers.

 

http://money.cnn.com/2013/01/27/news/economy/housing-economic-growth/index.html?iid=HP_LN

Housing to drive economic growth (finally!)

 

The bursting of the housing bubble plunged the economy into a recession from which it has yet to fully recover. But economists say this could finally be the year that housing lifts us out of the doldrums.

 

Just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. The rest were split fairly evenly between consumer spending, increased domestic energy production and stimulus from the Federal Reserve as major growth drivers.

 

http://money.cnn.com/2013/01/27/news/economy/housing-economic-growth/index.html?iid=HP_LN

 

Clearly the FEDs are putting most of their chips on the housing market being strong enough to keep the US economy from entering a technical recession this year. They are even going to bet 1 trillion dollars to keep interest rates low and buy mortgage backed securities to make this happen. It shows you just how much our economy has come to rely on home building for economic growth.

 

Question: How much debt should the FEDs take on to increase housing activity and pump up prices?

Orders for U.S. durable goods jump 4.6%

Bookings for Boeing lead, but U.S. business investment weakens

"WASHINGTON (MarketWatch) — Orders for big-ticket items made in the U.S. soared 4.6% in December, fanned by a big batch of bookings for military and commercial aircraft."

http://www.marketwatch.com/story/orders-for-long-lasting-goods-jump-46-2013-01-28

 

 

Have they ever wonder if the rise in prices are already hurting sales?

 

Pending home sales fall in December

"December saw pending-home-sales declines of 8.2% in the West, 5.4% in the Northeast and 4.5% in the South. There was a gain of 0.9% in the Midwest."

http://www.marketwatch.com/story/pending-home-sales-fall-in-december-2013-01-28

 

 

Looks like Australia is starting to join a very unpopular party. Lets see who is already at the recession table, Japan, almost all of Europe, and the US is currently declining and China and India are seeing declines as well. The FEDs better really pump our housing market this year, because international demand is not going to keep our GDP moving forward.

 

Land Down Under faces Europe-style downturn

Commentary: Australia’s commodities boom nears a bitter end

"But Australia’s economic outlook is deteriorating. The commodity boom, predicted to go on forever, is slowing sharply."

http://www.marketwatch.com/story/land-down-under-faces-europe-style-downturn-2013-01-27

 

 

And when Fannie's balance sheet shows these loses who is going to fill the hole again, taxpayers.  It has been amazing to watch how much money and changes to rules have been done to keep the housing market from readjusting to a more historic norm.

 

Fannie Adds Bailout For Underwater Walkaways: Mortgages

"Non-delinquent borrowers with illness, job changes or other reasons they need to move will become eligible in March to apply for a so-called deed-in-lieu transaction that erases the shortfall between a property’s value and the size of its mortgage. It follows a change in November that lets on-time borrowers sell properties for less than they owe, known as short sales, wiping out the remaining mortgage debt. Normally, the lenders could pursue people to recoup their losses."

"Fannie Mae and Freddie Mac have drawn almost $190 billion in taxpayer aid since they were taken into conservatorship in September of 2008 when investments in risky loans pushed them to the brink of insolvency. They’ve paid a combined $50 billion in dividends back to the U.S. Treasury. The companies own or guarantee $5.2 trillion of mortgages, more than half the outstanding U.S. home loans.

“The government is saying you can just turn in your home and we’re not going to come after you for the money you still owe,” said Peter Schiff, chief executive officer of Connecticut-based brokerage firm Euro Pacific Capital. “Some of these are going to be people who might otherwise have stayed in their homes and kept making payments.”

http://www.bloomberg.com/news/2013-01-28/fannie-adds-bailout-for-underwaters-walkaways-mortgages.html

 

 

Through The Wire: Reuters Layoffs

Last week was a bleak one at Thomson Reuters, the financial news and wire service giant. According to sources, as many as 3,000 people were let go, out of approximately 50,000 employees around the globe. Most of the layoffs came from the financial sector—the sales, training and analysts’ divisions—but some were on the editorial side.

http://observer.com/2013/01/through-the-wire-reuters-layoffs/

 

 

This will add to our already over built retail RE.

 

Up to a third of Barnes & Noble stores to close, report says

http://www.latimes.com/business/money/la-fi-mo-up-barnes-noble-stores-close-20130128,0,5751045.story

 

 

VMware to cut 900 jobs

http://www.marketwatch.com/story/vmware-to-cut-900-jobs-2013-01-28?link=MW_home_latest_news

Dollar General to open 635 stores, add 6,000 jobs

 

GOODLETTSVILLE, Tenn. (AP) — Dollar General, the Goodlettsville-based chain of discount retail stores, announced it would open 635 new stores this year and add 6,000 new jobs.

 

Dollar General also announced Wednesday in a news release that it would relocate 550 stores in 2013. The company said it plans to open the chain's 11,000th store before the year's end and the company's 75th anniversary in 2014.

 

http://www.knoxnews.com/news/2013/jan/23/dollar-general-to-open-635-stores-add-6000-jobs/

Dollar General to open 635 stores, add 6,000 jobs

 

GOODLETTSVILLE, Tenn. (AP) — Dollar General, the Goodlettsville-based chain of discount retail stores, announced it would open 635 new stores this year and add 6,000 new jobs.

 

Dollar General also announced Wednesday in a news release that it would relocate 550 stores in 2013. The company said it plans to open the chain's 11,000th store before the year's end and the company's 75th anniversary in 2014.

 

http://www.knoxnews.com/news/2013/jan/23/dollar-general-to-open-635-stores-add-6000-jobs/

 

Glad to see the jobs (works out to about 9 employees per store). Interesting that the growth in the retail industry seems to be towards the 'dollar general' end of things. I guess it shows where demand is. I wonder how many dollar general stores can fit into a vacant, Borders, Barnes and Nobles, Best Buy footprint?

 

Here are a couple of articles that talk about what the growth in these types of stores show about the economy.

 

Dollar Stores, Growth For Another Decade (DG, DLTR, FDO, WMT, SHLD, NDN)

"The trade-down economy and the grab-up approach from dollar stores almost secures the sector’s growth ahead as a boost for the lower-end retailers."

Read more: Dollar Stores, Growth For Another Decade (DG, DLTR, FDO, WMT, SHLD, NDN) - 24/7 Wall St.

http://247wallst.com/2010/11/03/dollar-stores-growth-for-another-decade-dg-dltr-fdo-wmt-shld-ndn/#ixzz2JILKaAia

 

 

The two sides of Dollar General's post-recession growth

"FORTUNE -- Dollar General was one of the few retail bright spots during the recession. Its success was a direct barometer of the economy: The worse Americans felt about their finances, the more they sought out the retailer's low-priced goods."

http://money.cnn.com/2010/06/06/news/companies/dollar_general_economy.fortune/index.htm

 

Snyder: 14 companies to invest $1.1 billion, add 4,590 jobs in state

Wednesday, January 23, 2013

 

 

 

LANSING, Mich. - Gov. Rick Snyder today announced the Michigan Strategic Fund's approval of state incentives to support 14 business expansions that are expected to generate more than $1.1 billion in investments and add 4,590 jobs in Michigan.

 

"Our reinvention of Michigan is all about more and better jobs for families and bright futures for our children," Snyder said. "At the end of the day, that's what this announcement really means. The fact that these companies are choosing to stay and grow in Michigan reinforces our well-earned reputation as America's comeback state. The commitment and innovation of these job creators, coupled with the high quality of Michigan's talent, will keep our state moving forward. I applaud this tremendous investment in Michigan's future."

 

http://michigan.gov/snyder/0,4668,7-277-57577-293295--,00.html

This takes us back to the conversation about California. Its great to see job growth, but they have a long ways to go just to get back to break even (2006 levels). Matter of fact, Michigan lost 11,000 jobs - from major employers - just in December of 2012, with a total gain of 13,000 for the year (much better than in the past decade but saw declines 6 out of the last 8 months of the year). Its clearly an uphill battle for many states. Of course the state lost about 279,000 jobs between 2007-2010. So at this rate the state might regain those lost jobs in about 20+ years. The other thing to note in all of these annoucements are that these jobs are 'planned' to be created over X amount of years (time). When you see most job losses being posted it is about to happen or already has. There is a big difference between a long term 'plan' verses what is happening almost over night.

 

 

State's unemployment rate stays at 8.9% in December

"Meanwhile, a survey of major employers showed that major companies shed 11,000 jobs in December.

The business and professional services sector lost 6,000 jobs and retail trade lost 3,000. Manufacturers added 2,000 jobs during the month."

"Despite those monthly losses, Michigan's major employers added 13,000 jobs overall during 2012, the state survey showed."

http://www.freep.com/article/20130117/BUSINESS06/301170267/State-s-unemployment-rate-stays-at-8-9-in-December

Software firm AirWatch adding 800 jobs in Atlanta

 

The Atlanta Journal-Constitution

 

Mobile software company AirWatch will add 800 jobs at its Sandy Springs headquarters in the next two years.

 

The business plans to spend another $4 million upgrading its equipment.

 

AirWatch chairman Alan Dabbiere said the company has already begun hiring as it more than doubles its staffing in metro Atlanta, where it already has about 650 workers. Jobs to be added include software developers and data analysts.

 

“This is a huge opportunity and we’re so proud to do it in Georgia,” he said. “And we probably couldn’t do it anywhere else but Georgia.”

 

 

 

http://www.ajc.com/news/news/software-firm-airwatch-expected-to-announce-about-/nT6kd/

Here is an interesting article about these state job annoucements. This is from Indiana, but I know that Michigan and Ohio and many other states have a very similar situtation. That is why they are careful to state these are 'planned' expansion or investments.

 

Reality Check: Indiana job numbers don't add up

"Since its creation, IEDC boasts more than 100,000 new jobs on its success list, and when the agency and the governor talk about job numbers, the "Indiana Economic Successes" list is what they are talking about.

But 13 Investigates discovered many of the state's "economic successes" aren't really successes at all.

They are empty fields and deserted factories where the state claims there are supposed to be thousands of jobs."

 

"In fact, as many as 40% of statewide jobs listed as so-called economic successes have not happened -- and most of them never will -- according to an analysis by Eyewitness News."

 

"Not every deal we announce is going to work out exactly as we plan it to work out. That's just the reality," explained Mitch Roob, who is Indiana's Secretary of Commerce and IEDC director. "We are very proud of our record here in the state of Indiana in terms of helping companies to create jobs."

WTHR first asked Roob about IEDC's statistics and "Indiana Economic Successes" list in November.

"I don't know that we call it ‘success' … what we call it is a ‘job commitment,'" he explained."

http://www.wthr.com/global/story.asp?s=12066021

 

Software firm AirWatch adding 800 jobs in Atlanta

 

The Atlanta Journal-Constitution

 

Mobile software company AirWatch will add 800 jobs at its Sandy Springs headquarters in the next two years.

 

The business plans to spend another $4 million upgrading its equipment.

 

AirWatch chairman Alan Dabbiere said the company has already begun hiring as it more than doubles its staffing in metro Atlanta, where it already has about 650 workers. Jobs to be added include software developers and data analysts.

 

“This is a huge opportunity and we’re so proud to do it in Georgia,” he said. “And we probably couldn’t do it anywhere else but Georgia.”

 

 

 

http://www.ajc.com/news/news/software-firm-airwatch-expected-to-announce-about-/nT6kd/

 

Keep posting. Since January 1, 2013 I have posted about 75,000 job cuts annoucements. You have a ways to go.  :wink:

and only 15,000 job cuts were in the private sector...fact is the private sector is GROWING.   

Alright guys, lets not turn this into an anecdotal evidence posting war.  It's senseless and doesn't work to prove much except who's spending more time searching for stories that buttress their argument.

and only 15,000 job cuts were in the private sector...fact is the private sector is GROWING.   

 

Private sector or public sector, it doesn't change that these people are becoming unemployed.

Housing to drive economic growth (finally!)

 

The bursting of the housing bubble plunged the economy into a recession from which it has yet to fully recover. But economists say this could finally be the year that housing lifts us out of the doldrums.

 

Just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. The rest were split fairly evenly between consumer spending, increased domestic energy production and stimulus from the Federal Reserve as major growth drivers.

 

http://money.cnn.com/2013/01/27/news/economy/housing-economic-growth/index.html?iid=HP_LN

 

Clearly the FEDs are putting most of their chips on the housing market being strong enough to keep the US economy from entering a technical recession this year. They are even going to bet 1 trillion dollars to keep interest rates low and buy mortgage backed securities to make this happen. It shows you just how much our economy has come to rely on home building for economic growth.

 

Question: How much debt should the FEDs take on to increase housing activity and pump up prices?

 

Clefan98,

I would still like to hear your thoughts on how much debt the FEDs should take on to boost the private sector housing market? I really am interested.

2 more...........trillion. 

there's no correlation between Fed debt and reality.

there's no correlation between Fed debt and reality.

 

:? :? :? :?

 

Well if that is the case, we should run their 'credit card' for every financial need we have. Matter of fact, we should transfer some of the other debt onto their balance sheet. We could be debt free in no time and all of our debt problems would be solved. :clap:

And yes, they are the ones holding interest rates low and buying almost all of the mortgage back securities (debt). To the tune of 90% this year. Which is just over $1 Trillion dollars in 2013. To say these type of intervention has no impacts on reality (RE markets) is  :-o.

These comments might take some damage control?!! He might consider himself luck if they just remove he from his position. This type of truth telling is a big no no.

 

France 'totally bankrupt', says labour minister Michel Sapin

"France's labour minister sent the country into a state of shock on Monday after he described the nation as “totally bankrupt”.

“There is a state but it is a totally bankrupt state,” Mr Sapin said. “That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective.”

http://www.telegraph.co.uk/finance/financialcrisis/9832845/France-totally-bankrupt-says-labour-minister-Michel-Sapin.html

 

 

Caterpillar is generally consider one of the guages on were the economy is headed. Of course now days what use to be used as a measuring tool is of little value. Its has become more about how much paper the FEDs will suck up and when will the next QE arrive.

 

UPDATE 4-Caterpillar sets cautious tone for year after low profit

"Jan 28 (Reuters) - Caterpillar Inc, the world's largest maker of construction equipment, posted a 55 percent drop in quarterly profit on Monday and set a cautious tone for the year, citing weak demand and oversupply."

http://www.reuters.com/article/2013/01/28/caterpillar-results-idUSL1N0AX1FW20130128

 

 

Like that is going to happen.

 

China tells U.S. to slow money printing presses

"(Reuters) - A senior Chinese official said on Friday that the United States should cut back on printing money to stimulate its economy if the world is to have confidence in the dollar."

http://www.reuters.com/article/2013/01/25/us-davos-currencies-idUSBRE90O10620130125

 

GM adding third shift, 2630 jobs at Brazil complex - company

 

(Reuters) - General Motors Co (GM.N) will add a third production shift at a complex in Brazil, a move it expects will create 2,630 factory and supplier jobs, the company said Sunday in a statement on its website.

 

GM will add the shift at the Gravataí Industrial Complex, in the south of Brazil, where it makes the Chevrolet Celta and Onix, according to the company.

 

http://www.reuters.com/article/2013/01/27/us-gm-brazil-shift-idUSBRE90Q0JN20130127

Two Central Ohio projects are among 11 statewide set to create 410 jobs with more than $20 million in new payroll thanks to tax incentives from the Ohio Tax Credit Authority. :clap: :clap: :clap:

 

http://www.bizjournals.com/columbus/news/2013/01/28/kroger-adding-23-jobs-at-expanded.html

Consumer confidence drops in January

"WASHINGTON (MarketWatch) — Dropping past analysts’ expectations, a gauge of consumer confidence fell this month to its lowest level in more than a year, led by gloomier expectations and views of the present situation, according to data released Tuesday."

http://www.marketwatch.com/story/consumer-confidence-drops-in-january-2013-01-29-101032528?dist=lcountdown

 

 

Note: YoY prices are up about 5.5%

 

Home prices decline in November, Case-Shiller says

http://www.marketwatch.com/story/home-prices-decline-in-november-case-shiller-says-2013-01-29

 

 

Once again, this may turn out to be one of the biggest 'thefts' in world history. If you had a mortgage, saving account, etc. it affected you financially. I am amazed more citizens are not outraged by the level of manipulation and the amount of coordination by the banks, that took place to pull this off. Maybe main street just can't process how big this really is. Of course if the MSM would shine a big light on this maybe more people would take note.

 

Libor Lies Revealed in Rigging of $300 Trillion Benchmark

"Details are only now revealing just how far-reaching the scam was."

“Pretty much anything you could do to increase the revenue of your organization appeared legitimate,” says Martin Taylor, chief executive officer of London-based Barclays Plc from 1994 to 1998. “Here was the market doing something blatantly dishonest. I never imagined that people in the financial markets were saints, but you expect some moral standards.”

Where Libor is set each day affects what families pay on their mortgages, the interest on savings accounts and returns on corporate bonds. Now, banks are facing a reckoning, as prosecutors make arrests, regulators impose fines and lawyers around the world file lawsuits claiming the manipulation pushed homeowners into poverty and deprived brokerage firms of profits."

http://mobile.bloomberg.com/news/2013-01-28/libor-lies-revealed-in-rigging-of-300-trillion-benchmark.html

GM adding third shift, 2630 jobs at Brazil complex - company

 

(Reuters) - General Motors Co (GM.N) will add a third production shift at a complex in Brazil, a move it expects will create 2,630 factory and supplier jobs, the company said Sunday in a statement on its website.

 

GM will add the shift at the Gravataí Industrial Complex, in the south of Brazil, where it makes the Chevrolet Celta and Onix, according to the company.

 

http://www.reuters.com/article/2013/01/27/us-gm-brazil-shift-idUSBRE90Q0JN20130127

 

Are you now posting job creation overseas?

Home prices see best yearly gain since 2006

 

(Reuters) - Home prices rose in November to rack up their best yearly gain since the housing crisis began, a further sign that the sector is on the mend.

 

http://www.reuters.com/article/2013/01/29/us-usa-economy-homes-index-idUSBRE90S0JZ20130129

 

Home prices rose 5.5% in the 12 months through November, providing more evidence of a recovering housing market, a closely-followed report showed Tuesday.

 

The Standard & Poor's Case-Shiller index of 20 major cities showed prices rising in 19 of the 20 cities for the 12-month period. Prices fell only in New York — by 1.2%.

 

http://www.usatoday.com/story/money/business/2013/01/29/november-home-prices-case-shiller/1872575/

GM adding third shift, 2630 jobs at Brazil complex - company

 

(Reuters) - General Motors Co (GM.N) will add a third production shift at a complex in Brazil, a move it expects will create 2,630 factory and supplier jobs, the company said Sunday in a statement on its website.

 

GM will add the shift at the Gravataí Industrial Complex, in the south of Brazil, where it makes the Chevrolet Celta and Onix, according to the company.

 

http://www.reuters.com/article/2013/01/27/us-gm-brazil-shift-idUSBRE90Q0JN20130127

 

Are you now posting job creation overseas?

 

You post job layoffs and other unrelated world news in this thread...

GM adding third shift, 2630 jobs at Brazil complex - company

 

(Reuters) - General Motors Co (GM.N) will add a third production shift at a complex in Brazil, a move it expects will create 2,630 factory and supplier jobs, the company said Sunday in a statement on its website.

 

GM will add the shift at the Gravataí Industrial Complex, in the south of Brazil, where it makes the Chevrolet Celta and Onix, according to the company.

 

http://www.reuters.com/article/2013/01/27/us-gm-brazil-shift-idUSBRE90Q0JN20130127

 

Are you now posting job creation overseas?

 

You post job layoffs and other unrelated world news in this thread...

 

I believe most of my job layoff posting are for the US. I can tell you really don't want to have a valid conversation about the economy. Because if you did, you would recognizing that the EU and Japan (posts) are in recessions and other countries are following have a very direct impact on the US and its economy. Or that the Libor rigging had a major impact on consumers and appears to include US banks as well. Your one line comments don't support an economic point of view or issue. You have also avoided explaining your one liners.

Home prices see best yearly gain since 2006

 

(Reuters) - Home prices rose in November to rack up their best yearly gain since the housing crisis began, a further sign that the sector is on the mend.

 

http://www.reuters.com/article/2013/01/29/us-usa-economy-homes-index-idUSBRE90S0JZ20130129

 

Home prices rose 5.5% in the 12 months through November, providing more evidence of a recovering housing market, a closely-followed report showed Tuesday.

 

The Standard & Poor's Case-Shiller index of 20 major cities showed prices rising in 19 of the 20 cities for the 12-month period. Prices fell only in New York — by 1.2%.

 

http://www.usatoday.com/story/money/business/2013/01/29/november-home-prices-case-shiller/1872575/

 

Already post this and noted that prices are up YoY by 5.5%. Despite low levels of sales for new homes and the lack of rise in consumer income. Which brings back the conversation about the FEDs and their efforts, despite low demand still, to pump up housing and home prices with low interest rates and the purchase of mortgage backed securities.

Auto parts supplier plans for additional 530 jobs :clap:

 

TECUMSEH, Mich. — An automotive parts supplier with a facility in Tecumseh is reportedly planning a major expansion that would add hundreds of jobs to its Michigan workforce.

 

Documents from the state show that Van-Rob Tecumseh — formerly Lenawee Stamping Corp. — is planning a two-stage, $30.7 million project that the company says will ultimately add 530 jobs.

 

More than half of the jobs are marked for the plant in Tecumseh, with the remainder to be added at a yet-to-be determined location in Michigan.

 

State documents show the company intends to create 272 jobs in Tecumseh to build underbody parts destined for General Motors plants in Michigan and Indiana.

 

http://www.toledoblade.com/Economy/2013/01/29/Auto-parts-supplier-plans-for-additional-530-jobs.html

Your link posted stated housing market declined in Nov.  Mine differed...

 

Consumer confidence drops in January

"WASHINGTON (MarketWatch) — Dropping past analysts’ expectations, a gauge of consumer confidence fell this month to its lowest level in more than a year, led by gloomier expectations and views of the present situation, according to data released Tuesday."

http://www.marketwatch.com/story/consumer-confidence-drops-in-january-2013-01-29-101032528?dist=lcountdown

 

 

Note: YoY prices are up about 5.5%

 

Home prices decline in November, Case-Shiller says

http://www.marketwatch.com/story/home-prices-decline-in-november-case-shiller-says-2013-01-29

 

 

^Not true!

GEICO Plans to Hire 800 in Buffalo, N.Y., Region in 2013

 

GEICO, a Chevy Chase, Md.-headquartered auto insurance unit of Berkshire Hathaway, has announced plans to hire 800 people for its Buffalo-area office in 2013.

 

The insurer currently employs about 2,400 people at its service center in the suburb of Getzville, N.Y.

 

Company officials said last Friday that the new hires will be for a variety of positions, including sales and customer service.

 

http://www.insurancejournal.com/news/east/2013/01/28/279067.htm

 

Wells Fargo Plans To Hire 200 In Georgia

 

Mike Donnelly, the bank’s regional president, saysa Wells Fargo is trying to hire new employees to keep pace with economic improvements.

 

http://atlanta.cbslocal.com/2013/01/25/wells-fargo-plans-to-hire-200-in-georgia/

Consumer confidence drops in January

"WASHINGTON (MarketWatch) — Dropping past analysts’ expectations, a gauge of consumer confidence fell this month to its lowest level in more than a year, led by gloomier expectations and views of the present situation, according to data released Tuesday."

http://www.marketwatch.com/story/consumer-confidence-drops-in-january-2013-01-29-101032528?dist=lcountdown

 

 

Note: YoY prices are up about 5.5%

 

Home prices decline in November, Case-Shiller says

http://www.marketwatch.com/story/home-prices-decline-in-november-case-shiller-says-2013-01-29

 

 

^Not true!

 

What is not true? That I posted that home prices rose 5.5% YoY but, that home prices fell MoM.

 

YoY, MoM, seasonally adjusted, not seasonally adjusted all very different things. The one I look at most is YoY and that is what has initiated my comments about home prices rising even though income and sales levels clearly don't support such a rise. But, if you keep rates low enough people can afford slightly higher prices without their monthly payments going up. Its what the FEDs are working hard to create (and taking on a lot of debt to do so). Keep the monthly cost about the same, but boost prices with lower rates. Of course this can work until rates start rising then prices will start falling again, unless incomes significantly rise over inflation. Good luck with that one happening any time soon.