Skip to comments.Slowest Recovery Since 1882: Homebuilder Enthusiasm, Inflation and Industrial Production
Posted on 10/16/2012 10:17:53 AM PDT by whitedog57
As Professor John Taylor of Stanford University has observed, this is the slowest economic recovery since President Chester Arthur in 1882. Hence, I am not surprised that economic indicators struggle to increase to pre-recession levels.
The National Association of Homebuilders Confidence Index rose to 41 in September from 40 in August. While this this is the highest reading since the end of the recession, it is still below the breakeven point of 50.
Well, confidence could be attributed to the Feds mega-pushdown of mortgage rates.
While one can say Its about time! since the recession ended in June 2009, other economic indicators are (finally) rising again. Industrial production rose from a slump of -1.2% in August to 0.4% in August.
Once again, it is still below the 100 mark that was last attained before the most recent recession.
Capacity utilization rose to 78.3% from a downward revised reading of 78%. However, it is still below the 80% benchmark which has not been reached since the recession ended.
Inflation? The Consumer Price Index for Urban Consumers rose to its highest level since June 2009. Of course, this is due to rising food and gasoline prices, hardly comforting to consumers.
This is an agonizingly slow recovery. And when the Wall of Taxes hits in 2013, that will put a further drag on future economic growth.
(Excerpt) Read more at confoundedinterest.wordpress.com ...
Really, 1882?.. Thats not the way I remember it.. Hmmmmmm :)
very simple. BHusseinO has so raised the risk of lending, the risk of investing, and the risk of hiring new employees that most large, sophisticated capital is moving more and more overseas.... and many small businesses don’t even get started anymore due to his higher risks and costs...(and open hatred for people that try to “build” anything, especially a business that might employ people... and it is small businesses that, in normal times with a normal government in WashingtonDC, it is small businesses that do the majority of the hiring).
One thing he is .. is consistent. Anyone who votes for re-electing this guy will get more poverty, disinvestment, and layoffs. Oh yes, and he’s halfway already to his stated goal of $10 gasoline
With regrets to the homebuilders (and I’m in that industry) we don’t need to be building a lot of houses right now.
This just increases the supply at the bottom end so that more and more RE gets freed up for illegal immigrants to live in. We can’t keep building and building to satisfy the increase in numbers of illegal immigrants.
“President Chester Arthur”
WOW, now that is not a name you hear every day!
The Progressives are absolutely positive that this is their time with the MEDIA, Hollywierd, Unions, teachers/professors, and the teat suckers in their communist clutches no matter how bad Odumbo does, they will win.
No facts can dissuade them from completing the finishing touches outlined in the communist manifesto. Even if they have to rig the voting.