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Tell you guys what, the next GDP release by the BEA is tomorrow morning.. We can see who is right about the direction of the economy at that time. Next week is the updated unemployment figures/payroll employment changes for April.
And for the record, the Census hired close to 1 million people all over the country between February and April. New hiring peaked the second week of this month, so we should see positive job growth for April..
The numbers I heard for first quarter GDP is 3.4%. They are currently spending a massive amount of money to buy every percentage point of GDP they can and also spending trillions to buy down interest rates. The FOMC meeting was yesterday and basically their actions show that they don't believe what they say to the media. If the economy was recovering then they would have raised the funds rates. Expect the media to pump up the highly manipulated GDP as a very positive reading in order to increase peoples confidence. Also you don't get through the fallout from the largest housing bubble in history in two years which a real economic recovery currently would depend on.
Last edited by 73-79 ford fan; 04-29-2010 at 10:20 PM..
My feeling on this is that some people just don't know proper interview dress and conduct whereas others are on unemployment and going through the paces to show that they're looking for work, but purposely act or dress in such a way that they know they won't get the job. Some peoples' conduct is so inappropriate that it's hard for me to believe that they don't know any better. I think some people send resumes out, hoping to not get an interview, and when they do, they don't show up or they botch it.
How to not get a job: write your resume in crayon and wear bunny slippers to the interview. Works like a champ.
My peeve; trolling for sympathy as if it were a selling point. Excuses are an endless resource that have the appearance of being free, if only it didn't cost them their very lives.
The numbers I heard for first quarter GDP is 3.4%. They are currently spending a massive amount of money to buy every percentage point of GDP they can and also spending trillions to buy down interest rates. The FOMC meeting was yesterday and basically their actions show that they don't believe what they say to the media. If the economy was recovering then they would have raised the funds rates. Expect the media to pump up the highly manipulated GDP as a very positive reading in order to increase peoples confidence. Also you don't get through the fallout from the largest housing bubble in history in two years which a real economic recovery currently would depend on.
Funny how "the economy is not recovering" and yet "Companies in the Standard & Poor's 500 index have reported 76 percent higher operating earnings than a year ago — on pace to be the biggest year-over-year increase ever, according to S&P analyst Howard Silverblatt. Nearly half the companies in the index have reported earnings so far."
Sorry buddy, but the economy IS recovering - and recovering SUBSTANTIALLY.
The REASON they have not raised rates yet is because they want to be SURE the recovery will hold - NOT that there is no recovery. It's really not that hard to understand you know.
Recovery Tilting to V-Shape as Profits Prompts Growth Revision
April 19, 2010, 3:02 AM EDT
April 19 (Bloomberg) -- Surging profits are prompting economists to revise their estimates for growth, tilting the recovery more in the direction of a V-shape as businesses from Intel Corp. to JPMorgan Chase & Co. boost spending.
“Companies have a lot more capital, and they’re going to deploy it for equipment and hiring rather than sit on it, said Joseph LaVorgna, chief U.S. economist in New York at Deutsche Bank Securities Inc. “It’s quite possible the economy produces a recovery significantly stronger than people anticipate.”
LOL and when did most of these individuals lose their jobs???????...... Uh I think most of them lost their jobs under Bush as the largest increases in unemployment occurred during his watch. Have you seen a chart demonstrating the number of jobs lost during both administrations? Most jobs were lost under Bush, consequently those making half of what they formerly made are the victims of the Bush administration, not Obama’s. Nice try though.
No excuse. Obama is now well into his presidency, close to a year and a half.
Since 99 weeks is the maximum time for the unemployed but only in some states, in most states 26 weeks is the limit, it's doubtful most of the unemployed were unemployed when Bush was still in office. At any rate once they quit receiving unemployment handouts, they're no longer counted as unemployed so you'd be wrong.
The numbers I heard for first quarter GDP is 3.4%.
This is what it actually says:
Quote:
The median forecast for first-quarter gross domestic product growth is for a +3.4 percent annualized rate versus +5.6 percent in the fourth quarter.
You can attribute the 4th QTR rate to holiday spending, so the economy hasn't grown at all.
Quote:
Originally Posted by malamute
At any rate once they quit receiving unemployment handouts, they're no longer counted as unemployed so you'd be wrong.
You can thank Bill "BJ" Clinton for that. He changed the procedure in 1997 in order to hide the fact that the economy was starting to collaspe then.
Quote:
Originally Posted by Frankie117
And for the record, the Census hired close to 1 million people all over the country between February and April. New hiring peaked the second week of this month, so we should see positive job growth for April.
There's no doubt in my mind you've never worked for the US Census Bureau. The majority will be out of work by the end of June, just in time to catch up on past due bills and have nothing to spend for the rest of the summer.
people can spin it any way they want, but here is yesterday's BLS report:
The number of long-term unemployed (those jobless for 27 weeks and over) in-
creased by 414,000 over the month to 6.5 million. In March, 44.1 percent of
unemployed persons were jobless for 27 weeks or more.
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