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

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It was not too long ago that the looney Lit Left was cheering the election of Socialist François Hollande and how he and France would show America the way to turn around an economy and give their guy, Barack Obama, the flexibility to act out on his Socialist belief system to a greater degree than he already had. Go get the rich was the thought process...

“The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF.

“The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.”

...

French economic growth has been near zero for the past five quarters. It may have tipped into recession over the summer as the malaise spread from Italy and Spain, according to Banque de France.

New car registrations were down 7.7pc in the third quarter from a year earlier. Unemployment has been creeeping up, reaching a post-euro high of 10.6pc.

The fear is that a fiscal shock in 2013 will tip the economy into a sharp downward slide. “France needs more fiscal austerity right now like a hole in the head,” said sovereign debt strategist Nicholas Spiro.
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http://www.telegraph.co.uk/finance/...ury-against-disastrous-Francois-Hollande.html

Well, France socked it to the rich!

When we say employers are terrified of Obama, we're told, "That's just anecdotal, I can make up plenty of anecdotes and pass them off as fact..."

When we say that Capital flees from taxation, we are told, "Oh yeah, show me where it goes you fucking liar!"

When we say the economy is stagnant, mired in a lost decade we're told, "Bullshit!Liar! the economy is growing as long as it is not shrinking! Even if it is growing too slowly to keep up with population growth, it is still growing!"

When we say the deficits are too large and growing at a rapid pace, we're told "YOU FUCKING LIAR, we're growing it at 25% less than what was projected! That's REAL progress! One-point-four trillion is a helluva lot better than One-point-six trillion!"

;) ;)
 
Not All Jobs Are Created Equal
Matt Patterson & Crissy Brown
October 17, 2012

Once upon a time, there was a company called General Motors. It made cars. But the company was poorly run, and the high cost of its unionized workforce drove it to insolvency. But before the doors were shuttered forever, a great and benevolent benefactor swooped in and bailed out the failing company.

That benefactor was you.

And by you, we of course mean Uncle Sam, who in 2008 stepped in to flood GM with billions from the Troubled Asset Relief Program (TARP), a desperate attempt to shore up a variety of decrepit institutions whose imminent collapse threatened the entire U.S. economy (or so we were told). The initial bailout was followed in summer 2009 with another round of auto stimulus; all told, the taxpayer tab for General Motors bailout was a cool $50.7 billion.

What did we get for that money? It's true that some jobs were saved. But President Barack Obama loves to embellish what the bailout actually achieved. He claimed at an April campaign event, for example, that the bailout "saved probably a million jobs" and that "GM is now the number-one automaker again in the world."

In truth, GM employed a total of only 91,000 workers in the U.S. before it entered into bankruptcy in the summer of 2009. As John Lott notes for National Review, "[y]ou can reach a 400,000 total by assuming that all of GM's jobs, as well as all the jobs of its parts suppliers and car dealers, would have been lost." In 2011, the entire U.S. auto industry employed only 717,000 people

Ironically, that money could have supported a million households for about a year. For $50 billion, we could have given 980,392 families $50,678, the average household income in 2011 according to the latest figures provided by Sentier Research.

...

According to OpenSecrets.org, in 2008, the United Auto Workers (UAW) political action committee spent $13 million total on the election, including $2 million to candidates for the House and $171,000 for Senate candidates. About 99 percent of this campaign cash went to Democrats. That is more than enough money to pocket you a politician -- or ten
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http://www.americanthinker.com/2012/10/not_all_jobs_are_created_equal.html

Boy, can Barry pic'em...
 
4es卍_4es卍_gump;42260387 said:
It was not too long ago that the looney Lit Left was cheering the election of Socialist François Hollande and how he and France would show America the way to turn around an economy and give their guy, Barack Obama, the flexibility to act out on his Socialist belief system to a greater degree than he already had. Go get the rich was the thought process...
Click to expand...

That's right, Chief, splutter in your trademark impotent rage about France and stuff, because we both know your not gonna find enough fuel for your patented situational outrage in the American business news.
 
How the Obama-Biden Plan Raises Taxes on One Million Small Businesses

Plan calls for a 40 percent tax rate on small businesses.


The Obama-Biden tax plan calls for a hike in the small business tax rate from 35 percent today to over 40 percent next year. President Obama and his supporters will often argue that “only” three percent of small business owners will be affected by his tax rate hike. While this is true, it masks the fact that this is a tax increase on one million successful small businesses (i.e. three percent of the 30 million small business tax returns filed annually).

The Obama-Biden plan will raise taxes on a majority of small business profits and hit those companies which employ a majority of Americans who work for small businesses. Here’s how:

Unlike corporations, small businesses usually don’t pay their own taxes. Rather, business profits flow through to the business owner. The business owner pays taxes on her small business by adding the profits to her income tax form. Therefore, personal income taxes are the same thing as small business taxes.

The Obama-Biden plan to raise the top two marginal income tax rates (from 33 and 35 percent today to 36 and 39.6 percent, respectively) is a hike in America’s small business tax rate. This does not include Obamacare’s 3.8 percent small business surtax.

According to the IRS, most small business profits face taxation in households making more than $200,000 per year. The IRS keeps track of two types of small business income: sole proprietors, and “pass-through” entities like partnerships and S-corporations.

A majority of small business profits will face a tax rate hike under the Obama-Biden plan. There are 30 million tax returns reporting small business income. On net (profits reduced by losses), these owners report business profits of $590 billion. A large chunk of this net profit--$477 billion—faced taxation in households making more than $200,000 per year.

Sole proprietors: There are 22 million tax returns reporting sole proprietor income. On net (profits reduced by losses), these owners report business profits of $245 billion. A large chunk of this net profit--$80 billion—face taxation in households making more than $200,000 per year. 37 percent of sole proprietor profits will face a tax rate hike under the Obama-Biden plan.

S-corporations and partnerships: There are 8 million partners and S-corporation shareholders. On net (profits reduced by losses), these owners reported business profits of $345 billion. Virtually all of this profit faced taxation in households making more than $200,000 per year. Aggregate pass-through entity profits will almost entirely fall in households making more than $200,000 per year. These are real small businesses. For example, there are 250,000 doctor and dentist offices organized as S-corporations or partnerships. They employ millions of workers making less than $250,000 per year. These jobs are endangered by the Obama-Biden tax rate hike.

The Obama-Biden tax hike plan will kill small business jobs. Obama and Biden claim they are raising taxes on “millionaires and billionaires” but are actually targeting successful small companies. A new study by Ernst and Young projects that this tax rate hike will kill 710,000 small business jobs.

Posted by Ryan Ellis on Tuesday, October 16, 2012 1:28 PM EDT


Read more: http://atr.org/obama-biden-plan-raises-taxes-one-a7252#ixzz29YvZfFoQ
 
And Reagan did it with a much higher tax rate for everyone, yet the RW mantra is that if the Bush tax cuts expire on the top 2% the economy will collapse.
 
Housing starts surged 15% last month.


Housing starts surge in positive sign for economy

(Reuters) - Groundbreaking on new homes surged in September to its fastest pace in more than four years, a sign the housing sector's budding recovery is gaining traction and supporting the wider economic recovery.

Housing starts increased 15 percent last month to a seasonally adjusted annual rate of 872,000 units, the Commerce Department said on Wednesday.

That was the quickest pace since July 2008, though data on starts is volatile and subject to substantial revisions.

The U.S. economy has shown signs of faster growth in recent months as the jobless rate has fallen and retail sales data has pointed to stronger consumer spending.

The data showed housing, which was battered by the 2007-09 recession, is increasingly one of the brighter spots in the economy and could add to growth this year for the first time since 2005.
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http://www.reuters.com/article/2012/10/17/us-housing-idUSBRE89G0RG20121017
 
Last edited:
We are currently experiencing a pre-election surge in all economic metrics; and then comes the hangover as can be confirmed by looking at hiring plans. Morgan Stanley's Business Conditions Index (a multi-factor real-time bottom-up economy tracker) has tumbled this month, giving back most of the very recent gains but it is the 'outlook for hiring' that is the most worrisome. Despite the stronger than expected employment report for October, both hiring indices fell to multi-year lows. The hiring index dropped 10 points to 44%, its lowest since December 2009, and the hiring plans index sunk 13 points to 44%, lowest since August 2009. Due to its leading indicator nature, this means that imminent payrolls may not stop rising; but in a few short months will post the first sequential decline since 2010. What this means for the unemployment rate is self-explanatory - but by then the election will be decided.http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/10/20121017_jobs_0.png
 
TurnerLeaf said:
We are currently experiencing a pre-election surge in all economic metrics; and then comes the hangover as can be confirmed by looking at hiring plans. Morgan Stanley's Business Conditions Index (a multi-factor real-time bottom-up economy tracker) has tumbled this month, giving back most of the very recent gains but it is the 'outlook for hiring' that is the most worrisome. Despite the stronger than expected employment report for October, both hiring indices fell to multi-year lows. The hiring index dropped 10 points to 44%, its lowest since December 2009, and the hiring plans index sunk 13 points to 44%, lowest since August 2009. Due to its leading indicator nature, this means that imminent payrolls may not stop rising; but in a few short months will post the first sequential decline since 2010. What this means for the unemployment rate is self-explanatory - but by then the election will be decided.
Click to expand...

You don't think that Morgan Stanley is a good source of economic data though.
 
The WSJ reports that domestic oil production will increase 28% this decade. And that is Obama's fault:D
 
mercury14 said:
You don't think that Morgan Stanley is a good source of economic data though.
Click to expand...

you posted something from Zandi


he isnt,

we went thru that

I even read the whole link you provided and showed where it was a PROBLEM:cool:
 
TurnerLeaf said:
you posted something from Zandi


he isnt,

we went thru that

I even read the whole link you provided and showed where it was a PROBLEM:cool:
Click to expand...

besides

that CHART is not opinion, its a fact based chart

unlike ZANDI that relied on a MODEL that was shown WRONG!
 
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