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

[unregistered]

 

[Ulaven_Demorte]

I know you're supporting one so STFU! Put me on Iggy, dunce.

Nah, it's way too much fun watching you hoist yourself daily by your own stupid petard. Especially when you then pretend it never happened.

You and your fellow RWCJ compadres are endlessly entertaining, the desperation ramping up notch by notch every day.

 

[4est_4est_Gump]

Disappointing GDP. But if you're going to post jobless claim numbers at least mention that they dropped more than expected... to a 2-month low.

I am shocked and disappointed to find that you have abandoned rolling averages...

 

[4est_4est_Gump]

Nah, it's way too much fun watching you hoist yourself daily by your own stupid petard. Especially when you then pretend it never happened.

You and your fellow RWCJ compadres are endlessly entertaining, the desperation ramping up notch by notch every day.

WITH your own petard you fucking retard...

(From a line in Shakespeare's Hamlet.) She intended to murder her brother but was hoist with her own petard when she ate the poisoned food intended for him.

The vandals were hoist with their own petard when they tried to make an emergency call from the pay phone they had broken.

 

[4est_4est_Gump]

You wouldn't know a Marxist or a socialist if the corpse of old Karl himself rose from the grave and bit you square on the ass.

Just keep spewing your usual tripe, and ignore any and all questions eh Vette.. Or pretend you didn't see it.. twice.. Par for the course.

Marx was a Communist.

“There is one good thing about Marx: he was not a Keynesian.”
Murray N. Rothbard

 

[4est_4est_Gump]

Let us give them something to cheer about!

(Reuters) - President Francois Hollande's Socialist government unveiled sharp tax hikes on business and the rich on Friday in a 2013 budget aimed at showing France has the fiscal rigor to remain at the core of the euro zone.

...

To the dismay of business leaders who fear an exodus of top talent, the government confirmed a temporary 75 percent super-tax rate for earnings over one million euros and a new 45 percent band for revenues over 150,000 euros.

http://www.reuters.com/article/2012/09/28/us-france-budget-idUSBRE88R0AK20120928


PROGRESS!!!


Watch the economic miracle!

 

[4est_4est_Gump]

Player Piano

Can the Fed Fight Droids and Win? Apple's SIRI, Driverless Trucks, What's Next?
Riveting Video: Are Droids Taking Our Jobs?

Today, as single farmer can produce as much goods a 100 farmers a half-century or less ago. That freed up labor for manufacturing and the service economy.

However, droids are now replacing humans in both manufacturing and services.

When does it stop?

Every time I go into a grocery store, I see more self-service checkout lanes and fewer manned ones. When RFID checkout comes into vogue, and it will quickly, an entire grocery basket will be scanned at once, and even fewer checkout clerks will be needed.

For a discussion of RFID, please see JCPenney to Eliminate All Checkout Clerks, Instead Using RFID Chips and Self-Checkout.

With each technological advance more and more goods and services are produced by fewer and fewer people. In isolation, that drives down costs, and in the process, standards-of-living have soared.

Because of ever-increasing productivity, it's easy to show that deflation is the natural state of affairs.

But what does that mean looking ahead? Will there be any jobs left? If so where? And what happens to the Fed's effort to prevent falling prices?

...

Can the Fed Fight Droids and Win?

The Fed wants to increase jobs and wages. It is fighting a battle it cannot possibly win. Forcing down interest rates while hoping to force up labor costs simply increases desire of companies to replace humans with droids.

We would get there anyway, as technology always improves. However, the Fed, by attempting to do the impossible, is actually speeding up the loss of jobs.

Living Wages

Who (besides the Fed and seriously misguided economists) does not like falling prices?

The problem with the "living wage" concept is not that wages are too low, but rather excess money from the Fed has driven up costs of goods and services.

People have been conditioned (by the Fed) to believe they need higher wages. What they really need is lower prices.

Technology, demographics, attitudes, and increasing lifespans, all mandate a need for lower, not higher prices.

If the Fed "succeeds" in further driving up prices, it will destroy the middle class because the technological rampage is sure to increase job losses for skilled labor, at least for the foreseeable future.

The Fed cannot defeat droids. Unfortunately, the Fed does not understand it is exacerbating the problem. Sadly , the Fed does even understand the nature of the forces it is fighting.

Read more at http://globaleconomicanalysis.blogspot.com/#EwEUrm9KqE8FyIbj.99
__________________
Don't shoot me! Ahm just the passion play's Player Piano player.
A_J, the Stupid

 

[4est_4est_Gump]

An Economic Primer: Why Americans Won’t Invest in Themselves
David P. Goldman
September 27, 2012

Consider these Americans:

Our first case is one of five million Americans unemployed for more than 27 weeks:

http://pjmedia.com/spengler/2012/09/27/an-economic-primer/?singlepage=true

A second American is part owner of a $20 trillion investment fund.

A third American is terrified that her pension fund will go bust (as the Illinois teachers’ fund will some time during the next ten years, among many others).

The $20 trillion fund squirrels away its money in safe, low-yielding assets. It won’t invest in the kind of risky investments that put bricks on top of mortar and hires workers.

Because American #2 at the $20 trillion investment fund won’t take risks, American #1 can’t find a job. And because low-risk investments now pay very little — investment-grade corporate bonds and mortgage-backed securities with federal backing yield barely 3% — pension funds can’t earn enough to meet their obligations to prospective retirees, and American #3 won’t have enough retirement income to live on.

All these Americans could well be the same individual, and probably are members of the same family.

Pension and retirement funds in the United States control $16 trillion in assets. That’s more than double the total assets of the whole U.S. banking system, and more than five times the total assets of hedge funds world-wide. The retirement savings of ordinary Americans dominate the capital markets, not the sort of fat-cats caricatured in the press. Add another $4 trillion in life insurance assets, which mainly reflect the retirement savings of the middle class, and the middle class investment fund now stands at $20 trillion.

Americans won’t take risks on each other. That’s our problem. A decade ago, at the peak of China’s investment in American securities, I quipped that a rich Chinese won’t lend money to a poor Chinese, unless the poor Chinese moves to America. That’s starting to change. China’s huge trade surplus has shrunk to nearly zero as the Chinese consume more at home. The problem now is that middle-class Americans won’t invest in themselves.

Why?

We’re not talking about greedy Wall Street cheating Main Street: The plain fact of the matter is that $20 trillion of middle-class retirement savings refuse to invest in the sweat and ingenuity of the same people who own the savings. Corporations have about $2 trillion of cash on hand, and a lot has been written about the risk-aversion of U.S. companies. But that’s a tenth of the money available to pension funds.

There are two possible explanations.

One is that something has frightened Americans out of risk assets, such that the only thing we have to fear is fear itself, and maybe also Barack Obama and his legion of fiscal inquisitors.

The other is that we’re just not good enough: we’re lazy, under-educated, spoiled, petulant, unable to compete with the lean and hungry Asians.

If the second explanation is correct, it means we’ve already turned into Greece or Spain. I don’t believe that for a moment. We lag in a number of areas, but America still has the best technology, highest productivity, and by far the best research universities in the world. And we have plenty of people willing to work, and work hard.

The other explanation is that something is preventing us from investing in ourselves. Why won’t we use our $20 trillion in retirement savings to build factories and stores and offices and generating stations and oil rigs and mines?

Let me count the ways.

We have the highest corporate tax rate in the world.

We have an administration that sandbagged one of the biggest contributions to energy independence to become available in decades, namely the Keystone project.

We have a regulatory environment that makes it next to impossible to build a nuclear power plant.

We have a health care program that puts the biggest weight of a new entitlement program right on the economy’s weak spot — firms with fifty workers.

We have an administration that can’t get its act together to steer the economy away from a fiscal cliff.

We have an out-of-control budget deficit as far as the spreadsheet can extend to the out-years, which means much higher taxes in the future.

Mitt Romney needs to persuade Americans that he can bring us together, to give us the confidence to take risks on ourselves and our neighbors. Obama appeals to resentment against the 1%. But the solution lies not with the 1%, but with the 99%, who have to trust each other. The politics of resentment spread fear and distrust and cause economic paralysis. Barack Obama has turned us into our own worst enemies.

Romney might also tell the government-union base of the Democratic Party that their pensions and retirement health care will go down the drain as long as economic growth languishes around 1.5%, because there won’t be enough income to pay for them.

Does anyone actually think that the outcome of the election depends on whether voters think Obama or Romney will be tougher on China?

 

[RobDownSouth]

An Economic Primer: Why Americans Won’t Invest in Themselves
David P. Goldman
September 27, 2012

We have the highest corporate tax rate in the world.

http://pjmedia.com/spengler/2012/09/27/an-economic-primer/?singlepage=true

It's a shame you never went to college AJ.

You might have learned the difference between "nominal tax rate" and "effective tax rate".

...but that wouldn't fit The Narrative...

 

[Busybody]

Health Premiums Up $3,000; Obama Vowed $2,500 Cut





During his first run for president, Barack Obama made one very specific promise to voters: He would cut health insurance premiums for families by $2,500, and do so in his first term.

But it turns out that family premiums have increased by more than $3,000 since Obama’s vow, according to the latest annual Kaiser Family Foundation employee health benefits survey.

Premiums for employer-provided family coverage rose $3,065 — 24% — from 2008 to 2012, the Kaiser survey found. Even if you start counting in 2009, premiums have climbed $2,370.

What’s more, premiums climbed faster in Obama’s four years than they did in the previous four under President Bush, the survey data show.

There’s no question about what Obama was promising the country, since he repeated it constantly during his 2008 campaign.

 

[4est_4est_Gump]

Health Premiums Up $3,000; Obama Vowed $2,500 Cut





During his first run for president, Barack Obama made one very specific promise to voters: He would cut health insurance premiums for families by $2,500, and do so in his first term.

But it turns out that family premiums have increased by more than $3,000 since Obama’s vow, according to the latest annual Kaiser Family Foundation employee health benefits survey.

Premiums for employer-provided family coverage rose $3,065 — 24% — from 2008 to 2012, the Kaiser survey found. Even if you start counting in 2009, premiums have climbed $2,370.

What’s more, premiums climbed faster in Obama’s four years than they did in the previous four under President Bush, the survey data show.

There’s no question about what Obama was promising the country, since he repeated it constantly during his 2008 campaign.

Health Care reform was going to be "the" thing to get our economy back to health.

 

[4est_4est_Gump]

What was it 60 Trillion jobs that it was going to create?

We left corporate America, which is a lot of what we're asking young people to do. Don't go into corporate America. You know, become teachers. Work for the community. Be social workers. Be a nurse. Those are the careers that we need, and we're encouraging our young people to do that.
Michelle Obama

 

[RobDownSouth]

Health Care reform was going to be "the" thing to get our economy back to health.

That's not true.

 

[mercury14]

It's a shame you never went to college AJ.

You might have learned the difference between "nominal tax rate" and "effective tax rate".

...but that wouldn't fit The Narrative...

He prefers to believe two massively different things are the same. If he's honest about facts he can't sell his economic position.

 

[unregistered]

 

[koalabear]

Stocks falter on Spain worries

 

[RobDownSouth]

Didn't the harridan Pelosi claim that Obama care would create 400,000 jobs "almost immediately?" Take a look at this video you can see Reid trying to keep from pissing his pants when she said it:

http://www.youtube.com/watch?v=QJKGWEkkE7E

I'd heard the claim about 250K new jobs, but 400K new jobs is the "best case scenario".

Here's the research documenting the statistical certainty between lower premiums and more new jobs.

Unfortunately for you, most of these new jobs will likely be of a semi-skilled nature, so your chances of ending your decade-long unemployment probably won't improve.

 

[koalabear]

Stocks fall on economy worries

 

[unregistered]

 

[koalabear]

I'd heard the claim about 250K new jobs, but 400K new jobs is the "best case scenario".

Here's the research documenting the statistical certainty between lower premiums and more new jobs.

Unfortunately for you, most of these new jobs will likely be of a semi-skilled nature, so your chances of ending your decade-long unemployment probably won't improve.

Neither would yours, you have to be mobile, you wobble too much. One of the hazards of high school football, right.

 

[unregistered]

 

[unregistered]

 

[koalabear]

He works from home testing stool softeners.

Suppositories no doubt, they just forgot to tell him not to stick them in his ear.

 

[unregistered]

 

[koalabear]

USPS on verge of $5B default