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Lol, the stock market reflects corporate profitability. And as has been well documented very few companies are achieving top line growth. Most growth is coming through cost cutting.
“Consumer spending may continue to grow relatively slowly in the near term,” he said Aug. 27 at the Kansas City Fed’s annual monetary policy symposium in Jackson Hole, Wyoming.
The U.S. economy expanded at a 1.6 percent annual rate in the second quarter, according to revised figures from the Commerce Department released Aug. 27. Corporate profits grew at the slowest rate in a year, employee wages were revised lower and consumer spending rose at a 2 percent annual rate.
"Companies created 51,000 jobs on average from May through July, down from 200,000 in the prior two months, according to Labor Department data. The jobless rate may climb to 9.6 percent this month from 9.5 percent in July, and private payrolls increased by 46,000 workers, according to the median forecast of economists surveyed by Bloomberg before a Labor Department report on Sept. 3."
I must admit I am enjoying the desperation of the left. We haven't even kicked Pelosi out of her office yet and they are trying to pin Obama's mess on Republicans. Nice try.
If the republican policies are so good for our economy, why would we be feeling desperation right now? Do you not think that we enjoy a prosperous economy?
Those of us who see the devastated economy from GWB beginning to improve, shudder at the thought of Republicans destroying it again!
If the republican policies are so good for our economy, why would we be feeling desperation right now? Do you not think that we enjoy a prosperous economy?
Those of us who see the devastated economy from GWB beginning to improve, shudder at the thought of Republicans destroying it again!
Because the left is composed largely of idealogues who would prefer to see the economy stagnate than see wealthy accumulate more wealth.
And there are others who are simply uninformed and have no idea how the economy functions.
PRINCETON, NJ -- Americans reported spending an average of $80 a day last week, the highest such weekly spending average in more than 17 months, and Gallup's Job Creation Index, at +8 last week, continues to reflect the recent pattern of more positive reports of hiring at Americans' places of employment. These two positive economic trends have occurred despite a slight erosion of Americans' expressed confidence in the U.S. economy in the last several weeks.
Gallup research indicates that job creation is correlated with consumers' self-reported daily spending, a relationship seen in the concomitantly positive increases in both measures in recent weeks.
This is not just a recession this is an economic restructuring. If you look at the historical periods in this country where we have economic restructuring i.e. The Great Depression and the recession of the mid to late 1970 to mid 1980's the amount of time to get the economy going was more than 2 years.
The problem with most American people is that they don't understand that the economy is being RESTRUCTURED and it going to take several years. That goes against the immediate gratification mentality that most Americans have.
I do understand. I do not think we will ever go back to what we had.
We are in a transition period. Good for third world countries that are growing and increasing their standard of living and purchasing power but bad for us because we will have to lower ours so that we meet somewhere in the middle.
Global economy..global workforce. Is global governance next on the agenda ?
Pathetic and anemic. we are scraping along in a jobless recovery, narrowly avoiding a double dip each month. This is depressing.
It is clear the unemployment numbers show we were entering a fantastic Recovery Summer™! Go ahead and ask Biden, he'll tell you.
Month Unemployment
2010-01 9.70%
2010-02 9.70%
2010-03 9.70%
2010-04 9.90% A little uptick shows we are entering a booming spring!
2010-05 9.70%
2010-06 9.50% Summer starts out with a bang but
2010-07 9.50% as summer drags on
2010-08 9.60% it gets worse but
2010-09 9.60% Biden and Obama will say it is all good so it's all good!
Yeah, love that false 7.2% GDP growth, but you seem to be forgetting the 10.8% unemployment that went with it. The increase in deficit that went with it, and was the underlying cause of the problems we face now. The anemic wage growth (except for those at the top 1%) of the 99% of the U.S. versus the 90's where EVERYONE's wages increased.
You left wingers sure do squirm when you see that huge growth rate under Reagan. Seriously, I cannot get enough of it. Belittle that much growth all you want, but I would take 7.2% over 2.0% any day of the week.
That growth rate was for 1984, unemployment was in the 7% range, so please do not lie to me. The 10.8% rate was hit in 1982 at the depth of the recession. From December 1982 to December 1984 was the largest 2 year drop in the unemployment rate recorded by the BLS.
And for the record, there was more wage growth during the economic boom from 1983 to 1989 than there was during the entire decade of the 70s, where between 1970 and 1980, wages actually declined.
Isn't it an amazing coincidence that immediately (days) before the mid-term elections, 'reported' figures on economic growth, unemployment, Afghanistan status, etc. all show a remarkable improvement. -- Reminds me of the Health Care Bill passage --- A week later, a near-term funding shortfall of about $115B was 'suddenly' discovered!
The politicians and media are killing us! -- Where are the true leaders when we need them?
PRINCETON, NJ -- Americans reported spending an average of $80 a day last week, the highest such weekly spending average in more than 17 months, and Gallup's Job Creation Index, at +8 last week, continues to reflect the recent pattern of more positive reports of hiring at Americans' places of employment. These two positive economic trends have occurred despite a slight erosion of Americans' expressed confidence in the U.S. economy in the last several weeks.
Gallup research indicates that job creation is correlated with consumers' self-reported daily spending, a relationship seen in the concomitantly positive increases in both measures in recent weeks.
Yikes, that is like bragging about being the worlds tallest midget.
If the economy is so splendid why is the Fed talking about QE2? (google it, it's not a ship)
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