What happened to all of the doom and gloom economic threads?

koaladumbfuck said:

Private sector jobs are so overrated.

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Where's your daily update on the markets? The Dow is up +152.5 today. Oh wait, the Dow isn't a good measure of the economy. Unless it's going down.

mercury14 said:

Where's your daily update on the markets? The Dow is up +152.5 today. Oh wait, the Dow isn't a good measure of the economy. Unless it's going down.

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Buy MORON BUY!

koalabear said:

Buy MORON BUY!

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I've been buying heavily, knowing full-well the market is going to jump once a debt deal is reached. Do you really think there's any chance of a default? Nope, zero chance. But little non-crises like this are great money makers.

mercury14 said:

I've been buying heavily, knowing full-well the market is going to jump once a debt deal is reached. Do you really think there's any chance of a default? Nope, zero chance. But little non-crises like this are great money makers.

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Chump change, and no deal is set yet.

koalabear said:

Chump change, and no deal is set yet.

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Good, I hope no deal is set for another week and comes with a dip so I can put 100% if my paycheck on the market for the rebound. This horrible Obama economy is making me a fortune. The Dow is pushing 13k now, up from 8k.

But Obama hates money, people with money, and the markets. He just shows it funny.

mercury14 said:

Good, I hope no deal is set for another week and comes with a dip so I can put 100% if my paycheck on the market for the rebound. This horrible Obama economy is making me a fortune. The Dow is pushing 13k now, up from 8k.

But Obama hates money, people with money, and the markets. He just shows it funny.

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I can't wait for the look on your face when you find out you are not in their Elite, Moron.* UD rolleyes*

koalabear said:

I can't wait for the look on your face when you find out you are not in their Elite, Moron.* UD rolleyes*

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How come you never make any sense in your posts?

mercury14 said:

How come you never make any sense in your posts?

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I'm trying to be like you. Moron

Home Depot Co-Founder: 'I'm Not Sure Obama Would Understand Anything That I'd Say'


In a discussion about the current moribund job climate, Home Depot co-founder Bernie Marcus discusses the situation today contrasted with when he first started up the retail giant in 1978. Remarkably, the darkest days of Jimmy Carter were brighter than today's despair under the failed Obama presidency.
IBD: What's the single biggest impediment to job growth today?

Marcus: The U.S. government. Having built a small business into a big one, I can tell you that today the impediments that the government imposes are impossible to deal with. Home Depot would never have succeeded if we'd tried to start it today. Every day you see rules and regulations from a group of Washington bureaucrats who know nothing about running a business. And I mean every day. It's become stifling.

If you're a small businessman, the only way to deal with it is to work harder, put in more hours, and let people go. When you consider that something like 70% of the American people work for small businesses, you are talking about a big economic impact.

IBD: President Obama has promised to streamline and eliminate regulations. What's your take?

Marcus: His speeches are wonderful. His output is absolutely, incredibly bad. As he speaks about cutting out regulations, they are now producing thousands of pages of new ones. With just ObamaCare by itself, you have a 2,000 page bill that's probably going end up being 150,000 pages of regulations.
Brutal. Yet sadly, all too true.

Marcus isn't finished hammering the hapless Obama.

IBD: If you could sit down with Obama and talk to him about job creation, what would you say?

Marcus: I'm not sure Obama would understand anything that I'd say, because he's never really worked a day outside the political or legal area. He doesn't know how to make a payroll, he doesn't understand the problems businesses face. I would try to explain that the plight of the businessman is very reactive to Washington. As Washington piles on regulations and mandates, the impact is tremendous. I don't think he's a bad guy. I just think he has no knowledge of this.

He's wrong about one thing. Obama is a bad guy. This says it all.
IBD: Why don't more businesses speak out?



Marcus: They are frightened to death — frightened that they will have the IRS or SEC on them. In my 50 years in business, I have never seen executives of major companies who were more intimidated by an administration.
It's only going to get worse.

busybody said:

Home Depot Co-Founder: 'I'm Not Sure Obama Would Understand Anything That I'd Say'


In a discussion about the current moribund job climate, Home Depot co-founder Bernie Marcus discusses the situation today contrasted with when he first started up the retail giant in 1978. Remarkably, the darkest days of Jimmy Carter were brighter than today's despair under the failed Obama presidency.
IBD: What's the single biggest impediment to job growth today?

Marcus: The U.S. government. Having built a small business into a big one, I can tell you that today the impediments that the government imposes are impossible to deal with. Home Depot would never have succeeded if we'd tried to start it today. Every day you see rules and regulations from a group of Washington bureaucrats who know nothing about running a business. And I mean every day. It's become stifling.

If you're a small businessman, the only way to deal with it is to work harder, put in more hours, and let people go. When you consider that something like 70% of the American people work for small businesses, you are talking about a big economic impact.

IBD: President Obama has promised to streamline and eliminate regulations. What's your take?

Marcus: His speeches are wonderful. His output is absolutely, incredibly bad. As he speaks about cutting out regulations, they are now producing thousands of pages of new ones. With just ObamaCare by itself, you have a 2,000 page bill that's probably going end up being 150,000 pages of regulations.
Brutal. Yet sadly, all too true.

Marcus isn't finished hammering the hapless Obama.

IBD: If you could sit down with Obama and talk to him about job creation, what would you say?

Marcus: I'm not sure Obama would understand anything that I'd say, because he's never really worked a day outside the political or legal area. He doesn't know how to make a payroll, he doesn't understand the problems businesses face. I would try to explain that the plight of the businessman is very reactive to Washington. As Washington piles on regulations and mandates, the impact is tremendous. I don't think he's a bad guy. I just think he has no knowledge of this.

He's wrong about one thing. Obama is a bad guy. This says it all.
IBD: Why don't more businesses speak out?



Marcus: They are frightened to death — frightened that they will have the IRS or SEC on them. In my 50 years in business, I have never seen executives of major companies who were more intimidated by an administration.
It's only going to get worse.

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Yeah but, but, did you see all the census jobs that were created!

You have to have a heart of stone not to feel a pang of sadness at the passing of the bookstore Borders.

The retailer is liquidating its 399 remaining outlets and letting go nearly 11,000 employees. Gone will be the era when no shopping-mall parking lot in America seemed complete without an adjoining Borders, offering up its capacious aisles to browse for books you had no idea you needed.

Nostalgia aside, the extinction of Borders is the very model of a free-market economy at work. The store fell victim to the unyielding injunction of a truly creative economy: “Adapt, or die.” It failed to keep up with evolving technology and shifting consumer preferences, and so has been forced to make way for more adept competitors.

This ruthlessly efficient reallocation of resources took place because Borders wasn’t big or politically connected enough to get a bailout; because its employees didn’t belong to a powerful union favored by the White House; and because it didn’t sell something, such as green energy, deemed worthy of taxpayer support. The upshot of the changes that buried the store, and were allowed to unspool without governmental interference, will be cheaper and more readily available books.

The story of Borders has been repeated again and again by all the countless American companies that have risen to prominence only to disappear. It started with an inspired innovation only to be overtaken by subsequent innovations. It had an advantage that, in new conditions, became a liability. It lost its footing on the free market’s ceaseless wheel of change.

...

Does anyone fear Microsoft anymore, the behemoth that government spent so much time and energy trying to cut down to size in the late 1990s? The same thing, eventually, will befall Google and, yes, even Facebook.

Government exists in an entirely different plane, characterized by stasis and the lack of market or any other kind of discipline. USA Today reports that “federal employees’ job security is so great that workers in many agencies are more likely to die of natural causes than get laid off or fired.” Washington is locked in a debate over whether health-care programs designed in the 1960s can ever be reformed to account for new realities.

If Borders were a government agency, its budget would have been fattened up during the past few years, and it’d survive in perpetuity, whatever its merits.

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Rich Lowry
NRO

koalabear said:

I'm trying to be like you. Moron

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You are the Barry Bonds* of posters, you are knocking em outa the park









































*cause like he, you are doing it with streoids............its ME sending you the funny stuff

SO IS THIS THE HOPE, OR THE CHANGE? Return of Mass Layoffs a Grim Sign for U.S. Workers.

busybody said:

SO IS THIS THE HOPE, OR THE CHANGE? Return of Mass Layoffs a Grim Sign for U.S. Workers.

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Not only that, but as the stimulus is spent, governments are laying off workers.

Thank gawd unemployment benefits have million-man math multipliers!

We're talking summer of recovery now and the proof is in the positive indicators that prove the economy is in recovery, stocks are up, oil is up, and unemployment is up, all indicators of a heated economy bustin' out!

Wisconsin created 19K new jobs

I know

Lets recall teh WHITE GUY

Put in a BLACK guy so it can be upside down!


Hurtling towards TURD WORLDSVILLE

Frisco_Slug_Esq said:

Not only that, but as the stimulus is spent, governments are laying off workers.

Thank gawd unemployment benefits have million-man math multipliers!

We're talking summer of recovery now and the proof is in the positive indicators that prove the economy is in recovery, stocks are up, oil is up, and unemployment is up, all indicators of a heated economy bustin' out!

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It's part of the Democrats effort to eliminate income inequality...everyone gets layed off and depends on the favors of Democrat politicians in order to eat and live. It's a sure way to ensure people's voting compliance.

Government social spending creates the demand that drives the economy therefore wealth must be taken from the rich and given to the poor to turn everyone into the middle-class, otherwise the economy would collapse over night!

*nods*

__________________
There will be no medieval magic when one turns to government to be their champion. Government is not a shining knight on a strong horse; it is a night mare.
A_J, the Stupid

HOME DEPOT CO-FOUNDER BLASTS OBAMA:
EVEN ‘BRAIN-DEAD ECONOMISTS’ GET IT


First it was Steve Wynn, head of the famed Wynn resort empire, speaking out against Obama. Now its Bernie Marcus, co-founder of The Home Depot.

In an interview with Investor’s Business Daily (IBD), Marcus blasted Obama and his policies, saying “even brain-dead economists understand that when you raise taxes, you cost jobs.”



That’s some tough talk. But really, it’s only the beginning:




Those are some harsh words. And as we get further into this administration, it’s becoming all too common. However, Marcus‘s biggest revelation may not be about Obama’s policies, but more about his administration’s alleged thuggery. According to him, CEOs are scared to speak out for fear of retaliation:



http://www.theblaze.com/stories/home-depot-co-founder-blasts-obama-even-brain-dead-economists-get-it/


How long do you think it will take for the loonies to call a boycott on Home Depot?

obama is out of touch with reality - new around of layoffs

http://finance.yahoo.com/blogs/daily-ticker/return-mass-layoffs-grim-sign-u-workers-190228219.html


some day, hopefully, you dumb ass obama supporters will wake up

Do you fuck up every title line on purpose, haste, or stu...........





Never mind.

Frisco_Slug_Esq said:

Do you fuck up every title line on purpose, haste, or stu...........





Never mind.

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Who you callin

Stew?

Ped!

An article worth reposting in this thread:


Horror Story

BARRON'S, Up & Down Wall Street
Alan Abelson


The economy burns while Washington Fiddles - and what our chosen representative and the administration are fiddling with is not the great American job machine, which, as June's downright putrid employment report demonstrated beyond cavil, badly needs cranking up. Instead, they are laboring unstintingly on how to plug the deficit gap by such smarmy tactics as changing the way inflation is reckoned to make it easier to stick it to the geezers.

Social Security and Vets' Disability payments are tied to the cost of living, and, in their infinite wisdom, the politicos have concluded that the current gauge overstates inflation.

For the life of us, we cannot remember any sober being in full possession of his faculties believing that the Bureau of Labor Statistics has ever overstated - and we must stress overstated - inflation. We have our reservations about the number crunchers, but none of them to our knowledge has exhibited an irrepressible urge to commit occupational suicide.

It's not the first time, of course, that Washington has sought to tackle the thorny issue of inflation by manipulating how the cost of living is calculated (elimination of food and energy when they were rising vigorously, remember, gave us "core inflation", which just happens to invariably lag behind plain old inflation).

Understand, we hold no brief for the particular yardstick Uncle Sam used to measure he cost of living. Quite the opposite. With something approaching glee, we've passed along, from time to time, John Williams' blistering critiques of it from his perch at Shadow Government Statistics. However, John's take is that for decades, the rise in the cost of living has been greater than the official measurements indicate. It's just that we think such silly tinkering is symptomatic of how much at a remove Washington is from what's happening to the economy (and just about everything else, for that matter).



The atrocious June job numbers bring that disconnect into sharp relief. Although the incurable bulls strained to put a smiley face on the report, prattling on about a soft patch and trying to change the subject to the second half of this year, which they naturally envisioned as a period of quickening recovery, unimpeded by the absence of stimulus, the continuing drag of a bum housing market and a dismal job picture.



Give us a break. Which, come to think of it, is just what the bulls may get, but not, needless to say, the kind they're looking for.


The street soothsayers were a tad off in their prognostications, anticipating a rise in payrolls to around 125,000. In fact, a grand total of 18,000 jobs were added. That was the feeblest increase since September of last year, in case you're keeping score. Moreover, the two previous months were revised downward, by 29,000 in May and 15,00 in April.

And if you add the 131,000 slots plucked pretty much out of thin air by the BLS's birth/death computer models, what our friends Philippa Dunne and Doug Henwood at the Liscio Report dub "an unspinnably disappointing report" becomes even more disappointing. The private sector generated 57,000 jobs.

The unemployment rate edged up to 9.2% from May's 9.1%, and would have been a bit higher but for the shrinkage in the labor pool, which occurred likely as not because more folks without a job got discouraged and stopped looking for one. Even working stiffs had something tangible to beef about: Earnings in June fell a penny an hour, and the workweek contracted, as well.

As Philippa and Doug comment, there were "no consolations in the household survey," which showed a loss of 445,000 jobs, and, even adjusting to match the payroll concept, was down a non-inconsiderable 401,000, They note with some dismay that the rise in unemployment was most emphatic "at the extremes of the duration spectrum, which includes those jobless five weeks or less at one end and people out of work or more." They call the increase in the ranks of the newly unemployed "especially alarming".



What we find alarming s well is the rise in U-6, which includes both the unemployed and the underemployed, to 16.2% from 15.8%
This all-inclusive category hasn't been so high since back in December.

And while there are roughly 14 million people out of work by the usual count of unemployment, there are, uncomfortably, some 25 million by the U-6 measure.


That translates into an awful lot of unhappy people. And, if nothing else, we have a hunch that many of them may decide to vote come next year's election. Consider this a heads-up to any stray pol who can read the report without making his lips tired.



The estimable Dave Rosenberg, Gluskin Sheff's man about market and economies, calls the employment report a "mega reality check." Like Philippa and Doug, he views the jobs tally as "horrible... not just the headlines but also the details." And it casts severe doubt, he feels, on the popular notion among many economists and strategists that the lag in growth in the first half of the year can be blamed on myriad transitory factors.

Obviously, Dave says, last month's consumer-confidence surveys were so weak because of the crummy job market, which, we might add, somehow seemed to elude the ken of any number of economists and strategists. And, the dismal employment situation reflects in no small way why the private sector is hiring so gingerly.

Pure and simple, business is jittery about the macroeconomic outlook, "especially with the Fed fading into the background and fiscal policies swinging from stimulus to restraint."
(see post above)
http://forum.literotica.com/showpost.php?p=38132574&postcount=6818


While, he allows, employment picked up some earlier this year, the uptick was largely in response "to the psychological effects of illusionary prosperity" inspired by the monetary and fiscal largess unleashed last fall. As it emerges, these stimuli gave the economy "a brief sugar high, with no lasting multiplier impact."



Now the policy cupboard is bare, and "we can see what the emperor looks like disrobed. it's not a pretty picture."



The economy, Dave goes on, is in a very fragile state. Which isn't all that surprising since it still bears the scars of the credit and market collapse of the Great Recession that accompanied. it.

However, historically such ugly episodes - and there are quite a few slumps and crashes in the postwar period - are not typically followed by recoveries as flaccid and as pathetic as this one has been.

Particularly rare is to see an economy that's supposedly well into recovery produce the likes of a puny 18,000 monthly job gain. For a recovery worthy of its name, Dave contends, celebrating its second anniversary you would expect employment to rise more on the order of 180,000. It's hard to overlook that missing zero in Friday's headlines.

Scanning the gory details of the data, Dave notes that the total of unemployed in June swelled by 173,000 and exceeded 14 million for the first time this year. Including discouraged workers, the pool of available labor soared by 483,000 to 20.6 million, which works out to seven people vying for every job opening. The normal ratio is closer to three.

The logical question , he writes, is what are the prospects for a rebound in July? Not great, he says. In the June report, virtually all of the tell-tale indicators of what's ahead - temp hiring, the decline in the workweek, since "hours tend to lead bodies," and the revisions, which have a habit of feeding on themselves - were negative.

In his summing up, Dave points out that: "here we are, two years into an economic recovery, and the level of employment at 131 million is actually lower than it was in March 2000. At this stage of the cycle, what is normal is that payrolls are making new cyclical highs. This time around, barely 20% of the recession losses have been recouped."

He scoffs at the "myopic attention paid to a second-half revival," which he considers "a classic failure to look at the forest past the trees." The U.S. economy, "sadly enough, is saddled with numerous structural headwinds from excessive non-corporate debt, excessive housing inventories, excessive reliance on imported oil and excessive labor market supply."

And, he adds facetiously, "Did we mention excessive denial?"



Dave, as our readers doubtless know, is given to morose musings about the economy and the markets. But, you disregard his cautions at your peril. he was indisputably on the money in plugging for bonds when just about everyone else on this aching planet was bearish. And Dave has also been right as rain about gold.


One small absence in his list of excesses currently bedeviling the economy: He didn't comment on excess of blockheads in Washington - perhaps, we suspect, he believes that's a given.

OH!

it wasnt ME!


I always assume when somejuan gets called STEW PID, they are talkin to me

Stew PID and stupiDER...

Frisco_Slug_Esq said:

Government social spending creates the demand that drives the economy therefore wealth must be taken from the rich and given to the poor to turn everyone into the middle-class, otherwise the economy would collapse over night!

*nods*

__________________
There will be no medieval magic when one turns to government to be their champion. Government is not a shining knight on a strong horse; it is a night mare.
A_J, the Stupid

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hum if obama is driving, why is he aiming for the concrete wall? sure hope this vehicle has airbags