@H2O MAN,
The economy died, all right! The DOW hit over 15,000 today based on new job reports.
God, I hate it that Obama has failed to reduce our unemployment rate, and our stock market is hitting new highs.
Don't know what we're going to do with our added $$$$$$$ to our investments.
@cicerone imposter,
Quote:Don't know what we're going to do with our added $$$$$$$ to our investments.
Obarmy is banking on folks like you.
@cicerone imposter,
cicerone imposter wrote:
The economy died, all right! The DOW hit over 15,000 today based on new job reports.
DOW be DAMNED!
The job reports are terrible and they have been for the last 4.5 years, thanks to Obama.
@spendius,
Smart people like what Obama has done with our economy - with a world recession on-going in most parts of this planet - including the UK.
Quote:Telegraph.co.uk
Forecasters warn of 'triple dip' recession
George Osborne is bracing himself for more grim economic news with figures expected to show this week that Britain has lurched into its first “triple dip” recession.
We love what Obama has done, and don't admire your Osborne very much! LOL
@cicerone imposter,
But the TDR did not arrive.
And kids love the aunties who feed them teeth rotting candies.
@spendius,
I know you blokes don't have candy in the UK. Is that what makes you so sour? LOL
@cicerone imposter,
Our teeth are in a lot worse shape than yours are.
FUN WITH NUMBERS (Part 1)
I've listed below the total number of employed Americans as of the end of December of each of the last 10 years as well as for the end of April, 2013. The numbers in parentheses are the numbers of jobs added or lost for each year. The numbers are for Total Non-farm jobs (Public as well as Private sector) and are from the BLS.
Ready? Go.
2003 ............ 130,353,000
2004 ............ 132,372 (+2,019)
2005 ............ 134,856 (+2,484)
2006 ............ 136,927 (+2,071)
2007 ............ 138,042 (+1,115)
2008 ............ 134,425 (-3,617)
2009 ............ 129,373 (-5,052)
2010 ............ 130,395 (+1,022)
2011 ............ 132,498 (+2,103)
2012 ............ 134,691 (+2,193)
4/2013 ........ 135,474 (+783)
H20 would argue, I guess, that Obama's starting point should be on inauguration day and Obama 1st term started with the 134,425 and ended with 134,691 employed. No gain.
A more generous soul might suggest that Obama's term of influence should start after a year or so. His starting point should be the 129,373. (By the way, some 800,000 jobs were lost in January, 2009. Who should get the blame for that? Bush or Obama).
A couple of observations....
< a rule of thumb is that we need to add 150,000 net new jobs a month just to keep up with population growth, That's 1,800,000/year. We are struggling right now to do that;
> the unemployment rate for younger and less educated people is almost 3 times what it is for older, more educated people. I wish we could adopt some sort of WPA program to create (temporary) jobs rather than continuing on with the notion of demand for more goods stimulating job growth (through low interest rates);
> the average work week fell in April from XX.4 to XX.3 hours. This is troubling although seemingly minor. It might signal that the economy, like in Europe, is headed down once more. One wag calculates that even a small decline translates into the equivalent of thousands of full time workers.
> I included private as well as public employees in the numbers above. The public sector declined by 89,000 last month alone. Since the recession started the government sector has lost a million or so jobs (my guess).
That is good, right?
@realjohnboy,
Quote:By the way, some 800,000 jobs were lost in January, 2009. Who should get the blame for that? Bush or Obama?
Obama took office on January 20, 2009. He sure was effective in the loss of jobs with only 11 days left in the month! WOW.
@cicerone imposter,
The silence is deafening!
BTW, my funds are up over 10% YTD. Obama is doing such a lousy job!
Time to celebrate?
@cicerone imposter,
you're living well at the expense of the young, who are being driven into debt to finance your spending. you had better pray to be dead by the time young americans figure out that they have been lied to and robbed of any chance a having your good life.
The debt that Obama has run up so far is unfuckingbelievable.
Combine that with the spreading cancer called ObamaCare and
it's no wonder our economy continues to suck donkey balls.
@H2O MAN,
our economy is being propped up with lies, tricks and debt...aka bubble gum
Trick will mean $60B for U.S. coffers
Quote:The interesting hitch in this accounting tale is that Fan and Fred don’t actually have the money to pay the dividend. Remember, we’re talking here about an accounting adjustment, not an actual surge in cash flow. So to make the payments, Fan and Fred will have to borrow the money, which it can readily do at something just above the government’s low borrowing rate.
And that’s where the delicious irony comes in. For although Fan and Fred are now effectively creatures of the federal government, their financial accounts are still separate. As a result, any dividend payment would have the effect of increasing Fan and Fred’s debt while reducing, by the same amount, the annual deficit of the government that now owns them.
As you might expect, there are big political implications to this left pocket-right pocket charade: A $60 billion dividend payment would postpone the day when the Treasury will bump up against the government’s borrowing limit, the debt ceiling, and be unable to pay all its bills.That’s the next budget showdown with President Obama that congressional Republicans have been hankering for. With the Fan/Fred dividend and the general pickup in tax revenue, some analysts are estimating that might not come now until October.
In effect, then, what we have is a set of off-balance-sheet entities (Fan and Fred) using clever accounting to re-create an asset that it can turn into cash and use to pay a bid dividend to an owner/sponsor (the Treasury) anxious to pump up its financial results.
Haven’t we seen this movie before? Of course, it’s Enron—only this time it’s the government that’s doing it
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/05/04/this-accounting-tweak-by-fannie-mae-and-freddie-mac-will-mean-60-billion-for-the-u-s-government/
@hawkeye10,
One writer does not make future economic reality - especially when they can't support what they say.
CLUE: It's impossible to predict the world's economic future, because they are always in flux with different influences from one period to the next.
There's been doomsayers that predicts the worst of times, and much of it has happened during Obama's presidency.
Our economy has been slowly improving, and we didn't go over the 'cliff' like many pundits predicted.
Home sales are on the upswing as well as their values. Most have paid down their debt, and have recovered most of what they lost from the Great Recession. More Americans are spending money for foreign travel, eating out, and drinking wine.
You just don't have a clue, hawk. Fan and Fred does not make our economy. That's called myopia.
@cicerone imposter,
cice's the troll... don't feed the troll.
@cicerone imposter,
Quote:CLUE: It's impossible to predict the world's economic future, because they are always in flux with different influences from one period to the next.
wrong, when the economy is being held together by bubble gum being applied by politicians we can with 100% certainly predict a near term crash. Six years into the crisis the system is getting worse not better. this is not a phase that will get us back to vigor, this is the end.
This system is terminal.
@hawkeye10,
You wrote,
Quote: when the economy is being held together by bubble gum.
Please describe this "bubble gum?"
