Posted on 11/24/2010 5:14:13 PM PST by Nachum
WASHINGTON (Reuters) – New U.S. claims for jobless benefits hit their lowest level in more than two years last week while consumer spending rose for a fourth straight month in October, suggesting the economy is nearing a self-sustaining recovery.
The picture was further brightened by another report on Wednesday that showed consumer sentiment in November reached its highest level since June, likely reflecting the surge in stock prices in the wake of a Federal Reserve decision to again loosen monetary policy.
But the upbeat mood was tempered somewhat by unexpected declines in new home sales and in orders for long-lasting manufactured goods in October.
(Excerpt) Read more at news.yahoo.com ...
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A “recovery” is easy to “sustain” if you’re not required to create any actual jobs.
Gaining momentum....hmmmm.....Imagine what it would be like with Obongo out of office.
‘This is just another reprieve. Buy gold, silver and food. Sell stocks to those still drinking the cool aid.’
One cannot eat gold and silver. No matter how much food someone stores, it would not protect a family living in a community. It would be in our best interest to make strong connections in our communities with our neighbors. We have to think in larger, broader terms. ‘Every man for himself’ won’t work.
Just my 2 cents.
I think about the best we can say at this point is that signs are mixed. But there are some positive signs.
OTOH, the Japanese have been in the doldrums for a LONG time now. So it’s possible to kill an economy for the long term.
Hopefully the idiots in charge won’t manage to do that, but we are in fact skating on thin ice.
Look for these numbers to be constantly revised.
Seriously, how can we trust any news from our government anymore, and how can we respond intelligently when we have no trust in anything they say?
Am I being unnecessarily cynical here?
ML/NJ
OR: The economy will not be self-sustaining until taxes are lowered and the tons of monies that go to illegals and welfare frauds, pork projects, and gvt waste, are stopped.
This is going to be SOP for the next two years. The newspaper employees may not be able to get into their offices because of the soup lines wrapped around their building,
But the lamestream media will give us nothing but cheery news when it comes to the economy.
All this to ensure that the One continues as their president.
Well, it’s sustaining in a downward direction.
Hail the great Teleprompter! Inventor of the downward recovery.
The only thing self-sustaining about this economy is the steady stream of BS about some mythical "recovery".
Has someone discovered some magic value-added quality hidden within a non-producing "service" economy? I doubt it. Probably some more hair-brainless schemes from our Ivy League retards to mass-market some more fraudulent securities to gullible investors.
Have any of the 42,000 factories that closed since 2000 started producing something besides rust? Probably not.
Has some secret mining, timber, manufacturing, or agricultural operations started producing something without notifying the job-killing Democrats and RINOs? Probably not.
Wealth is created by turning raw materials into usable and marketable products, basically food, clothing, shelter, energy, transportation, and luxury items beyond that, and exporting our surplus. That's value-added effort.
Passing the same ragged dollars around the table for rubdowns, hairstyling, back-slaps, drinks, and entertainment does not create wealth. Stealing those ragged dollars from each other under the pretense of "financial services" ('scuse me; "financial products") does not create wealth. Buying and selling worthless paper IOUs among the participating bar crowd does not create wealth.
Burning our seed corn for fuel, and increasing our food imports to compensate for the loss does not create wealth.
Two hundred years into this New Dark Age®, tribal elders will be sitting around the campfires at night, teaching the youngsters about how bad things were before this Recovery® began.
I do hope that this is happening. A great way to spur the confidence for a sustained recovery would be to cut the deficit and achieve meaningful entitlement reform.
Agree. Since I am retired now we are looking at ways we can be a resource to our sons families. Whatever we can accumulate in real assets is for them as well.
There are people looking at any data as a reason things are getting better.
I don’t believe it. If anything things will get worse.
The MSM, MSNBC, etc. look at the slightest duped figures put out as proof of a recovery.
Pipe dream.
Must be all those ACORN workers they hired in October to go around and vote everywhere.
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