OKFU, Part IV

[Sonny Limatina]

U.S. Economy: Consumers Gain Confidence as Job Outlook Picks Up

April 27, 2010, 11:48 AM EDT

By Courtney Schlisserman

April 27 (Bloomberg) -- Consumers in the U.S. turned more optimistic in April as the growing economy raised hopes jobs will become available.

Americans’ outlook for the next six months climbed to the highest level since October 2007, two months before the recession began, as almost one in every five people polled thought the world’s largest economy and employment would improve. Another report showed home prices in the 12 months to February rose less than forecast, showing the housing market recovery will take time to unfold.

“The sentiment numbers tell us the labor market is improving, suggesting the consumer is going to continue to spend,” said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts, whose confidence estimate of 57 matched the highest. “We still don’t have any firm, underlying housing recovery in place yet.”

<snip>

Exceeds Forecasts

The median forecast of 78 economists surveyed by Bloomberg projected the confidence index would rise to 53.5. Estimates ranged from 48 to 57. The Conference Board revised the March figure to 52.3 from a previous estimate of 52.5.

Pessimism is starting to abate after employers boosted payrolls in three of the past five months. More job growth will be needed to spark bigger gains in confidence, incomes and spending, which accounts for about 70 percent of the economy.

The Conference Board’s report stood in contrast to a preliminary survey by Reuters/University of Michigan issued earlier this month, which showed sentiment unexpectedly dropped as Americans fretted about jobs and health care.

Another report showed home prices climbed less than forecast, a sign the housing recovery will take time to develop. The S&P/Case-Shiller index of property values in 20 cities rose 0.6 percent in February from the same month last year. The median forecast of economists surveyed by Bloomberg projected a 1.3 percent advance.

<mortgage/foreclosures snip>

The Conference Board’s confidence measure of present conditions rose this month to the highest level since May. The gauge of expectations for the next six months jumped to 77.4 from 70.4.

The share of respondents expecting more jobs to become available rose to a seven-month high of 18 percent from 14.1 percent. Nonetheless, the proportion of people who expect their incomes to rise over the next six months dropped to 10.3 percent from 10.8 percent.

Employment Gains

The labor market is showing signs of improving. Employers in March added 162,000 jobs, the most in three years, Labor Department figures showed April 2.

Joblessness may still be slow to decline as the improving economy entices more people to re-enter the labor force. Economists surveyed by Bloomberg earlier this month project the unemployment rate, at 9.7 percent in March, will end the year at 9.4 percent.

<bernanke snip>

Spending Improves

Americans are beginning to spend more. Consumer purchases probably rose at a 3.1 percent annual rate in the first three months of this year, almost double the fourth-quarter pace and the most in three years, according to a Bloomberg survey ahead of an April 30 report.

The Commerce Department’s advanced figures on first-quarter gross domestic product will probably also show the nation’s economy grew at a 3.3 percent annual rate, according to the median forecast in a Bloomberg survey.

Starbucks Corp., the world’s largest coffee-shop operator, raised its annual forecast after reporting second-quarter profit that beat analysts’ estimates.

“We’re benefiting from a consumer who’s feeling just a little bit better,” Troy Alstead, chief financial officer of Starbucks, said in a telephone interview after the Seattle-based company announced earnings on April 21.

Whirlpool Corp., the world’s largest appliance maker, yesterday boosted its forecast for the year and said sales for the first quarter were 20 percent higher than a year earlier.

 

[IrezumiKiss]

[Firespin]

Things are looking up, huh?

Flotsam & Jetsam Corp. of North America just laid off 295,453 workers in order to hemmorhage off the liabilities from a possible water poisoning in the aquifer beneath their processing plant:

http://www.almostsmart.com/upload/files/2006/Mar/graph.jpg

Robb & Steele Co., the foremost manufacturer of aluminum ball bearings for video game joysticks, just announced that they can't figure out if Obama's light rail proposal will benefit them in the next ten years, nor can they anticipate any positive outcome from having to give their minority Hispanic and Belgian workforce fulltime access to the healthcare they'll have to fork over now, thanks to his law:

http://img104.imageshack.us/img104/411/frgraphasofjanuary08qb8.jpg

although according to that chart, the pre-emptive measures they took prior to Obama's election keeps them aloft during these deficit-down times.

And Ubetyourlyfe Corporate Management Systems has had an indefinite hiring freeze since Obama took office, in lieu of any uptick on the Dow since his inauguration:

http://william.professormcgill.com/blog/wp-content/uploads/2008/05/coolimage_1.jpg

So yeah, you keep on going with that "change" and "hope," Mr. Magoo.

[/Firespin]

 

[Sonny Limatina]

[Firespin]

Things are looking up, huh?

Flotsam & Jetsam Corp. of North America just laid off 295,453 workers in order to hemmorhage off the liabilities from a possible water poisoning in the aquifer beneath their processing plant:

http://www.almostsmart.com/upload/files/2006/Mar/graph.jpg

Robb & Steele Co., the foremost manufacturer of aluminum ball bearings for video game joysticks, just announced that they can't figure out if Obama's light rail proposal will benefit them in the next ten years, nor can they anticipate any positive outcome from having to give their minority Hispanic and Belgian workforce fulltime access to the healthcare they'll have to fork over now, thanks to his law:

http://img104.imageshack.us/img104/411/frgraphasofjanuary08qb8.jpg

although according to that chart, the pre-emptive measures they took prior to Obama's election keeps them aloft during these deficit-down times.

And Ubetyourlyfe Corporate Management Systems has had an indefinite hiring freeze since Obama took office, in lieu of any uptick on the Dow since his inauguration:

http://william.professormcgill.com/blog/wp-content/uploads/2008/05/coolimage_1.jpg

So yeah, you keep on going with that "change" and "hope," Mr. Magoo.

[/Firespin]

Righteous.

 

[RobDownSouth]

[Firespin]

Things are looking up, huh?

Flotsam & Jetsam Corp. of North America just laid off 295,453 workers in order to hemmorhage off the liabilities from a possible water poisoning in the aquifer beneath their processing plant:

http://www.almostsmart.com/upload/files/2006/Mar/graph.jpg

Robb & Steele Co., the foremost manufacturer of aluminum ball bearings for video game joysticks, just announced that they can't figure out if Obama's light rail proposal will benefit them in the next ten years, nor can they anticipate any positive outcome from having to give their minority Hispanic and Belgian workforce fulltime access to the healthcare they'll have to fork over now, thanks to his law:

http://img104.imageshack.us/img104/411/frgraphasofjanuary08qb8.jpg

although according to that chart, the pre-emptive measures they took prior to Obama's election keeps them aloft during these deficit-down times.

And Ubetyourlyfe Corporate Management Systems has had an indefinite hiring freeze since Obama took office, in lieu of any uptick on the Dow since his inauguration:

http://william.professormcgill.com/blog/wp-content/uploads/2008/05/coolimage_1.jpg

So yeah, you keep on going with that "change" and "hope," Mr. Magoo.

[/Firespin]

This is the most dead-on imitation of firespin I have EVAR seen.

Oh, and by the way, Consumer Sentiment hit a two-year high of 78 yesterday.

 

[IrezumiKiss]

This is the most dead-on imitation of firespin I have EVAR seen.

Damn, I forgot I even did that! I should bookmark it, it's something that has infinite reuse value!

 

[RobDownSouth]

Damn, I forgot I even did that! I should bookmark it, it's something that has infinite reuse value!

It's an inspired piece of satire, the quality of which has not been seen on this board in quite a while.

 

[Sonny Limatina]

Damn, I forgot I even did that! I should bookmark it, it's something that has infinite reuse value!

This one too, I like to think: http://forum.literotica.com/showpost.php?p=33669198&postcount=24

By the way, I just discovered that the iphone's spell-check thinks that instead of Firespin, I must mean foreskin. First thing it's ever gotten right.

 

[IrezumiKiss]

This one too, I like to think: http://forum.literotica.com/showpost.php?p=33669198&postcount=24

That is a fucking Lit GB classic. Can't top that, IMO.

 

[RobDownSouth]

Lest we forget....

One of my fave threads from 2009: Post Like Ishmael

I think I seriously pissed some folks off using some of Ish's more generic hate-spews in reply to their comments.

Dick lick.

Ishmael

 

[Sonny Limatina]

One of my fave threads from 2009: Post Like Ishmael

I think I seriously pissed some folks off using some of Ish's more generic hate-spews in reply to their comments.

Dick lick.

Ishmael

You were a ninja in that thread. Brilliant.

 

[Sonny Limatina]

That is a fucking Lit GB classic. Can't top that, IMO.

I had a major (if unintentional) assist from Foreskin, who had been in rare form in that thread--or maybe a different one running concurrently.