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

[unregistered]

 

[busybody..]

we dont need no steenken market

we have the MAGIC KNEE GROW

If teh KNEE GROW can make the knee GROW he can make anything GROW

NO?
































Ooooooooooooooo

O'Fendy is gonna be pisssssseddddddddddddddddddddddddd

 

[busybody..]

Insanity

keep repeating the SAME SHIT

and hope this time

it doesnt

SMELL LIKE SHIT

OBAMA SAYS U.S. PUSHING RENEWABLE ENERGY EFFORTS.

SHOCKER: Seattle Post-Intelligencer: Seattle’s “Green Jobs” Program A Bust. “Just 14 new jobs have emerged from the program. Many of the jobs are administrative, and not the entry-level pathways once dreamed of for low-income workers. Some people wonder if the original goals are now achievable.”

 

[busybody..]

Obama: “Ultimately The Buck Stops With Me, I’m Going To Be Accountable” . . . But I Inherited These Problems…


Assploding contradiction.

BLITZER: When you took office, you said this – and I’m sure you remember – you said, if I don’t have this done in three years, then there’s going to be a one-term proposition, meaning you’re going to be a one-term president.

You remember that?

OBAMA: Well, here’s what I remember, is that when I came into office, I knew I was going to have a big mess to clean up and, frankly, the mess has been bigger than I think a lot of people anticipated at the time. We have made steady progress on these fronts, but we’re not making progress fast enough.

And what I continue to believe is that ultimately the buck stops with me. I’m going to be accountable. I think people understand that a lot of these problems were decades in the making. People understand that this financial crisis was the worst since the Great Depression. But, ultimately, they say, look, he’s the president, we think he has good intentions, but we’re impatient and we want to see things move faster.

 

[unregistered]

 

[busybody..]

Editorial: Did Bo (Obama's Dog) Eat The Recovery?

Posted 08/16/2011 06:38 PM ET


Blame Game: In his inaugural address 2 1/2 years ago, President Obama called for a "new era of responsibility." Yet lately, his main goal in life seems to be escaping any responsibility for the lousy economy.

It's getting so you have to keep a list of everyone and everything Obama wants to blame for the anemic economic recovery.

So far, it includes:

• President Bush: Obama continues to blame Bush for the mess he inherited, despite the fact that the recession had pretty much bottomed out by the time Obama took office and was officially over a mere four months after he was sworn in.

• ATMs: In June, Obama blamed automated teller machines and airport check-in kiosks for the lack of jobs, saying that "businesses have learned to become much more efficient, with a lot fewer workers."

• Republicans: On Monday, Obama said that because "some in Congress would rather see their opponents lose than America win, we ended up creating more uncertainty and more damage to an economy that was already weak" — a thinly veiled attempt to blame the GOP for the economic malaise.

• Gridlock: Obama goes after partisan impasses. What he's really complaining about is that lawmakers haven't enacted his latest "stimulus" plan — spending hikes, gimmicky tax breaks and a massive tax hike — that has already been tried and failed.

• The media: In July, Obama said the "splintered" press was in part to blame for Washington's failure to boost the economy. "If you never even have to hear another argument," he said, "then over time you start getting more dug in into your positions."

• Businesses: Obama has often blamed companies needlessly sitting on massive piles of cash. In May, he insisted that firms should "step up" and start hiring.

• Misfortune: "Over the last six months, we've had a string of bad luck," he said at a town hall on Monday, citing the Arab Spring, the Japanese tsunami and Europe's debt crisis. "So there were a bunch of things taking place over the last six months that were not within our control."

Just to be clear, Obama's policies alone are to blame for the current sorry state of the economy.

In his first two years, Obama had free rein to get his economic agenda through a heavily Democratic Congress: An $830 billion stimulus, billions more in auto bailouts, mortgage bailouts and cash for clunkers, ObamaCare and Dodd-Frank.

None of those packages worked. They produced the worst recovery since the Great Depression. That was true before the Arab Spring, the tsunami, Europe's debt crisis and before Republicans won back the House.

At a press conference this summer, Obama said: "I'm not interested in finger-pointing."

But that's all he's been doing for months.

Wouldn't it be nice if Obama instead were to live up to his inaugural credo and start his own "era of responsibility" by admitting his role in the country's economic slump?

 

[Frisco_Slug_Esq]

More on the reliability of Economics...

More broadly, politicians and investors are placing a great deal of weight on a crude and rough estimate that has never been particularly reliable.

“People want the best information that we have right now. But people need to understand that the best information that we have right now isn’t necessarily very informative,” said Tara M. Sinclair, an assistant professor of economics and international affairs at George Washington University. “It’s just the best information that we have.”

The growth rate that the government announces roughly one month after the end of each quarter — news much anticipated in Washington and on Wall Street — has been off the mark over the period from 1983 to 2009 by an average of 1.3 percentage points, compared with more fully analyzed figures released years later, according to federal data.

The second and third estimates, announced at subsequent one-month intervals, are no more reliable. The first quarter this year offers a typical example. The government estimated the annual growth rate at 1.8 percent in May and 1.9 percent in June before issuing its most recent estimate of 0.4 percent.

Perhaps more important, the government underestimated the depth of the recession by a wide margin, initially calculating that the economy contracted by an annual rate of 3.8 percent in the last quarter of 2008. It now estimates the contraction rate at 8.9 percent. Instead of an annual growth rate of 0.2 percent from the fourth quarter of 2007 through the first quarter of 2011, the government now estimates that the economy contracted at an annual rate of 0.2 percent during that period.

The basic problem is easy to understand: More than half of the ingredients in the first estimate are based in whole or in part on projections from past months. The government doesn’t actually know how much people spend on their cellphone bills or how much companies spend on construction. It simply makes an educated guess based on past spending. Even in the third estimate, 22 percent of the data still comes from projections.

If basic assumptions start changing rapidly — business failures during a recession, start-ups during a recovery — the estimates can quickly lose touch with economic reality.

“When we most want timely information is when they’re least able to give it to us,” said Professor Sinclair. “That’s exactly when those historical patterns are breaking down.”

http://www.nytimes.com/2011/08/17/b...s-fuzzy-picture.html?_r=1&partner=rss&emc=rss

 

[JAMESBJOHNSON]

The perfessers and politicians never learn what makes the world go round. Offer people what they want and the means to get it.

WALMART doesnt get it either. Back in 1958 when hula-hoops were a craze Sam Walton put everyone to work making hula-hoops. Within a day his store was full of hula-hoops, and his cash register was full of money. Today the Harvard perfessers who run WALMART are clueless, and WALMART operates like a traditional army commissary or PX...it sells what it has NOT what you want.

 

[Frisco_Slug_Esq]

Except for its gun selection, I'm pretty happy with Walmart...

 

[JAMESBJOHNSON]

Economics is anuther black art like palm reading, crystal ball gazing, and studying chicken guts. Your factory built economist is about as clueless and useless as a psychologist. Economics and psychology are rackets like the gypsies pull on old people.

 

[Frisco_Slug_Esq]

That's because economics is the study of Human Action and too many are delusional enough to think they can treat it like The Glass Bead Game...




The Chicago Way

 

[JAMESBJOHNSON]

Except for its gun selection, I'm pretty happy with Walmart...

The dollar stores and flea markets are kicking WALMARTS ass. I shop at DUMPSTER DIVE DELI and eat better, cheaper than with WM. I mean, a chiquita banana is a fucking banana at both stores but one sells for a lot less at DDD. WM tosses its ripe bananas and DDD sells them 1/2 price.

 

[Frisco_Slug_Esq]

Gov. Rick Perry scorched the political pot on Tuesday with a red-hot rhetorical attack on Fed-head Ben Bernanke. When asked about the Fed reopening the monetary spigots, Perry said, “If this guy prints more money between now and the election, I don’t know what y’all would do to him in Iowa, but we — we would treat him pretty ugly down in Texas.”

And that wasn’t all. In a more controversial slam, Perry said, “Printing more money to play politics at this particular time in American history is almost treacherous — or treasonous — in my opinion.” (Italics mine.)

Pretty rough stuff. Very aggressive language. And undoubtedly way too strong. It was poorly received in the financial world.

No, Ben Bernanke is not a traitor. This is a policy dispute; it’s not a matter of patriotism. However, and this is an important however, the rest of Perry’s statement suggests that his analysis of Fed policy is right on target. In other words, wrong words, right analysis.

The Texas governor, who by some polls is the new Republican presidential frontrunner, went on to say, “We’ve already tried this. All it’s going to be doing is devaluing the dollar in your pocket. And we cannot afford that.”

Well, to me that is exactly right.

Let’s take a quick look at Bernanke’s QE2 record of pump-priming: The dollar fell 12 percent on foreign-exchange markets. The consumer price index jumped over 5 percent at an annual rate. And the $600 billion cheapening of the greenback led to skyrocketing commodity prices, including oil, gasoline, and food. That oil-price shock is one of the principal factors behind the 0.8 percent first-half economic stutter. As a result of the jump in inflation linked to QE2, real consumer incomes slumped badly and consumer spending fell substantially.

Before QE2 the economy was growing about 2.5 percent, even though it was already blunted by numerous tax and regulatory obstacles. But the cheap-dollar oil shock came perilously close to pushing us into recession.

So it turns out that Governor Perry — even with his overly strong language — is a pretty sharp economic and monetary analyst.

In fact, Perry’s analysis actually channels recent Fed dissents by reserve-bank president’s Dick Fisher of Dallas, Charles Plosser of Philadelphia, and Narayana Kocherlakota of Minneapolis. They object to a two-year extension of the Fed’s zero-interest-rate policy, and in so doing have set down an opposition marker to a potential new shock-and-awe quantitative easing that many fear will be announced on August 26 when Bernanke speaks to the Jackson Hole Fed conference.

Larry Kudlow
NRO

 

[JAMESBJOHNSON]

That's because economics is the study of Human Action and too many are delusional enough to think they can treat it like The Glass Bead Game...

The Chicago Way

I have my own theory about economics and commerce: 98% of the time 98% of the people do what theyre always done 98% of the time. They play it safe.

The other 2% get wild and crazee and do weird shit; 2% of the time it advances civilization.

 

[Frisco_Slug_Esq]

Life is a bell curve...

You can flatten it, or stretch it, but the numbers at the ends are going to remain pretty consistent.

 

[Frisco_Slug_Esq]

Jobberwacky

One of the trial balloons currently being floated is that the president will announce a new Department of Jobs. This has got to be a joke. Here's a paragraph on the U.S. Department of Labor. It details the history of this federal agency, now approaching its 100th year of existence:

The organic act establishing the Department of Labor was signed on March 4, 1913, by a reluctant President William Howard Taft, the defeated and departing incumbent, just hours before Woodrow Wilson took office. A Federal Department of Labor was the direct product of a half-century campaign by organized labor for a "Voice in the Cabinet," and an indirect product of the Progressive Movement. In the words of the organic act, the Department's purpose is "to foster, promote and develop the welfare of working people, to improve their working conditions, and to enhance their opportunities for profitable employment."

Reads pretty much like a Jobs Department to me. Has anyone talked to Labor Secretary Hilda Solis about any new "Jobs Department"? What is she supposed to do, how is she supposed to labor, if we have another Jobs Department?

Then, of course, we have the U.S. Commerce Department. The Mission Statement of this department makes it sound like it, too, is a Jobs Department:

The U.S. Department of Commerce promotes job creation, economic growth, sustainable development and improved standards of living for all Americans by working in partnership with businesses, universities, communities and our nation's workers.

Reading these official statements -- cranked out by people whose salaries we all pay -- reminds us of Ronald Reagan's famous line. The closest thing to eternal life we will see on this earth is a government program.

If the function of the U.S. Secretary of Commerce is to promote job creation and economic growth, it sure seems that -- how can I say this charitably? -- this distinguished public servant has been falling down on the job of late. Like the last two and a half years.

If I were Mr. Obama's Commerce Secretary, I'd want to get out of town, and fast. In fact, that's exactly what Secretary Gary Locke did. Having done such yeoman's work in promoting job creation and economic growth here, Gary Locke was recently sworn in as our Ambassador to China .

Now, there's a jobs plan! If you can't beat 'em, join 'em. Ambassador Locke can now observe job creation and economic growth from a unique vantage point: Beijing.

Ken Blackwell
The American Spectator

 

[Frisco_Slug_Esq]

*chuckle*

RUSH: You know, this whole business of "we reversed the recession" until bad luck hit, he shoulda started that story with "Once upon a time..." Sounds like a bedtime story to his two daughters. "Once upon a time there was this great president, an historic president -- a man loved, worshiped, and idolized by nearly everyone -- and then a rash of bad luck hit!" He said three things. Obama said three things set back the economy: The Arab spring uprisings, the tsunami in Japan, and the European debt crisis. Now, he took credit for the Arab spring. Do you remember Tahrir Square, which is not a square, in Egypt? When that uprising started, Obama and the regime gang took to the television cameras and tried to make it look like the people in Egypt were replicating his 2008 campaign.

They tried to make it look like Obama was responsible for the Arab spring. It was a wonderful thing -- and we had our own conservative intelligentsia, our own media, "Yes siree, Bob! It's democracy in full flower," when all it was was the Muslim Brotherhood taking over in Egypt. But tell me, how did the Arab spring uprisings, a tsunami in Japan, and the European debt crisis -- how did those events -- contribute to the bankruptcy of the solar panel company in Massachusetts? Wait 'til you hear about this.

All kinds of green energy companies have gone kaput. How did the Arab spring uprisings, the tsunami in Japan, and the European debt crisis contribute to the pathetic sale of the Chevy Volt, and how did they contribute to the horrible economy before any of these occurred? He wants to run on these excuses. If the so-called Arab spring is destroying the American economy, why did Obama try to take credit for it? Is that why Obama hasn't demanded that murderous thug in Syria step down and is looking away from the daily slaughter? It's simply Obama's brilliant plan preventing America from a triple-dip recession? Is he gonna blame that on Bashar Assad

__________________
We had reversed the recession, avoided a depression, got the economy movin' again, created two million private sector jobs over the last 17 months, but over the last six months we've had a run of bad luck, some things that we could not control.
Barack Hussein Obama
August 15, 2011

 

[Frisco_Slug_Esq]

Liar liar, pants on fire!

In a town hall meeting in Iowa last night Mr. Obama, while bemoaning how unkind the fates have been to him after doing so much to resuscitate the economy, claimed that over 2 million private sector jobs had been created since he assumed office but that the Arab Spring, a tsunami in Japan, the Republicans etc etc had all conspired to reverse all his hard work to save the America.

Beyond the laughable and pathetic aspect of listening to a President of the United States whining about his fate in life, he deliberately told another outright lie. The private sector has not produced 2 million jobs since January of 2009, when he was inaugurated.

In January 2009 the Bureau of Labor Statistics, in its Employment Situation News Release showed that total employment in the United States was at 142.1million. Of that number, 22.4 million were employed by governments at all levels. Thus 119.7 million were in the private sector and overall unemployment rate was 7.6%.

Fast forward to June of 2011; the Employment Situation News Release for that month revealed that total employment was at 139.3 million (a drop of 2.8 million from January 2009). Within the total employment number were 22.1 million government workers at the federal, state and local levels. In summary there were thus 117.2 million employed in the private sector, a decline of 2.5 million. The overall unemployment rate: 9.2%.

The reality is 2.5 million jobs in the private sector were eliminated since Obama assumed office.

It is painfully obvious, even to those without access to the BLS reports, that average Americans instinctively know by their own experiences that there has been no job creation in the private sector since Obama became President; yet he so casually and easily can throw out a lie to further his ambitions.

http://www.americanthinker.com/blog/2011/08/obamas_iowa_speech_lie.html

 

[busybody..]

INFLATION? WHAT INFLATION? Record Number Of People Say They Are Paying More For Groceries Now Than Ever Before. I’ve really noticed the increase in prices.


U.S. wholesale inflation runs hotter in July as core PPI rises 0.4%; pricier tobacco cited


This is where UD chimes in and says

Dept of Labor??????????????? HAHAHA!!!!!!!!!!!!!!!!! *points and laughs*


Right UD?

DUMMY!

 

[busybody..]

RECOVERY BUMMER (CONT’D): Residential starts drop 1.5%, single-family starts drop 4.9% in July.

 

[unregistered]

 

[busybody..]

JOHN HAWKINS TWEETS: The WTC is still a hole in the ground, NASA doesn’t fly shuttles anymore, & we lost our AAA rating. Reelect Obama! His work isn’t done yet!

 

[Frisco_Slug_Esq]

JOHN HAWKINS TWEETS: The WTC is still a hole in the ground, NASA doesn’t fly shuttles anymore, & we lost our AAA rating. Reelect Obama! His work isn’t done yet!

A massive campaign must be launched to restore a high-quality environment in North America and to de-develop the United States...,
John P. Holdren
White House Office of Science and Technology Director

“And guess what this liberal will be all about? This liberal will be all about socializing, uh, uh… would be about basically about taking over the government running all of your companies.”
Maxine Waters

“Some years down the pike, we’re going to get the real solution, which is going to be a combination of death panels and sales taxes.”
Paul Krugman

"The System WORKED!"
"We had resources there from Day One. This was a situation that was treated as a possible catastrophic failure from, from Day One!"
Janet Napolitano

 

[busybody..]

Tell me O'FENDY!

Who the real racists are?

Tell me

Its OK

I'll wait

 

[Frisco_Slug_Esq]

"We own the economy. We own the beginning of the turnaround and we want to make sure that we continue that pace of recovery, not go back to the policies of the past under the Bush administration that put us in the ditch in the first place."
Debbie Wasserman Schultz

We had reversed the recession, avoided a depression, got the economy movin' again, created two million private sector jobs over the last 17 months, but over the last six months we've had a run of bad luck, some things that we could not control.
Barack Hussein Obama
August 15, 2011

If you ask me, I think what we're experiencing isn't in fact closer to a "growthless" recovery than to a jobless one. Because GDP started to grow more than a year and a half ago, but with the exception of just a couple of quarters, growth has not been noticeably above its trend rate of about 2-1/2 percent a year. I don't rejoice at the news that we added 216,000 jobs in March. About a hundred thousand of that 216,000 is needed every month just to keep up with the growth in the labor force. At this rate of job growth, it would take most of the decade to replace the eight 8-1/2 million jobs that were lost in the recession.
Christina Romer
Chairwoman of Obama's White House Council of Economic Advisors


"The System WORKED!"
Janet Napolitano