Keyword: bhoeconomy

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  • Introducing the 'Empty Restaurant Indicator' (economic indicator)

    10/02/2012 11:35:43 AM PDT · by dennisw · 67 replies
    growthstockwire. ^ | October 2, 2012 | Jeff Clark
    Introducing the 'Empty Restaurant Indicator' By Jeff Clark Tuesday, October 2, 2012 If you want to get a good indication of the health of the economy, just look at your local restaurants. Packed restaurants are a sure sign of a bustling, vibrant economy. It's hard to be bearish when you can't get a table on a Wednesday evening. Empty restaurants – like those with more staff than guests – show the opposite condition. All summer long, the restaurants in my neighborhood have been jam-packed. We'd often have to wait an hour or more just to get a table for four...
  • Biden: Middle Class 'Has Been Buried the Last Four Years'

    10/02/2012 10:50:07 AM PDT · by GOPinCa · 51 replies
    Vice President Joe Biden said the middle class "has been buried the last four yeas" at a campaign event in Charlotte, North Carolina: "This is deadly earnest, man. This is deadly earnest," Biden said. "How they can justify--how they can justify--raising taxes when the middle class has been buried the last four years... How in Lord's name..." Of course, Barack Obama has been president the last four years, and Biden has been vice president.
  • Polls: Romney leads Obama 51% to 44% in trust to handling the economy

    09/30/2012 3:06:26 PM PDT · by tobyhill · 23 replies
    the examiner ^ | 9/30/2012 | SAHIT MUJA
    Sahit Muja: Mitt Romney continues to hold a seven-point lead in voter trust over President Obama when it comes to the economy, which by far is the number one voting issue. The candidates remain more closely divided in several other key issues, but voters are shifting towards Romney when it comes to national security. A new Rasmussen Reports national telephone survey finds that 51% of Likely U.S. Voters trust Romney more when it comes to handling the economy. Forty-four percent (44%) trust the president more. Where did Obama's "Hope and Change" go? President Obama claims that government can't be fixed...
  • White House to contractors: Hold off on layoff warnings (Until AFTER the election)

    09/29/2012 5:12:45 AM PDT · by SE Mom · 62 replies
    CNN Money ^ | 28 September 2012 | Jeanne Sahadi
    NEW YORK (CNNMoney) -- The White House on Friday told government contractors worried about fiscal cliff spending cuts to hold off on warning employees about possible layoffs. The government said it would cover legal costs if contractors are forced to slash their payrolls because of the looming $109 billion in automatic cuts next year and are alleged to have violated the WARN Act. .... Defense contractors in particular have warned for months that the upcoming sequester would cost jobs in their industry. And Lockheed Martin's CEO has said publicly he may be forced to issue notice this fall of possible...
  • Nearly 400,000 More Jobs Added Than First Thought

    09/27/2012 11:13:02 AM PDT · by Oldeconomybuyer · 37 replies
    Wall Street Journal ^ | September 27, 2012 | By Ben Casselman
    The Bureau of Labor Statistics on Thursday released an early look at its annual “benchmark revision” of its payroll data. When the preliminary revisions become final early next year, the official data should show that 386,000 more Americans were working in March than previously believed. The private sector did even better, adding 453,000 jobs versus previous estimates. ... There was one symbolic significance to the revision: If the preliminary figures hold, they would suggest that more Americans are now working than when President Obama took office. That doesn’t mean much for the broader economy — there are still more than...
  • Here Is The White House Spin On Today's Disappointing Economic Data

    09/27/2012 11:38:55 AM PDT · by Perdogg · 18 replies
    A massive 13% collapse in durable goods, the biggest since January 2009; a $20 billion miss to annualized Q2 GDP estimates, and well below the lowest estimate, 60+ weeks of constant upward BLS revisions to initial claims "data" and not to mention assorted atrocious economic (note: not to be confused with market - the two are now completely unlinked) data from around the globe. And what does the White House say: the data shows that the "US is making progress." We sure wouldn't want to know what it would look like if after 3 episodes of easing, trillions injected into...
  • Durable goods orders take worst monthly drop since recession (Great "recovery"! /sarc)

    09/27/2012 11:45:32 AM PDT · by tobyhill · 10 replies
    nbc ^ | 9/27/2012 | reuters
    New orders for long-lasting U.S. manufactured goods in August fell by the most in 3-1/2 years, pointing to a sharp slowdown in factory activity even as a gauge of planned business spending rebounded. The Commerce Department said on Thursday durable goods orders dived 13.2 percent, the largest drop since January 2009, when the economy was in the throes of a recession. Orders for July were revised down to show a 3.3 percent increase instead of the previously reported 4.1 percent gain. Economists polled by Reuters had expected orders for durable goods -- items from toasters to aircraft that are meant...
  • More Americans Now Commit Suicide Than Die in Car Crashes as Miserable Economy Takes Its Toll

    09/22/2012 10:38:53 PM PDT · by DogByte6RER · 53 replies
    The Daily Mail (UK.) ^ | 22 September 2012 | Daily Mail Reporter
    $56 million suicide prevention programme launched as study reveals more Americans take their own lives than die in car crashes Suicide is a bigger killer than car crashes, according to an alarming new study. The number of people dying from suicide has drastically increased, while car accident deaths haven lessened, making suicide the leading cause of injury death. Suicides via falls or poisoning have risen significantly and experts fear there could be en more going unrecognised, specifically in cases of overdose. 'Suicides are terribly under-counted,' said Ian Rockett, author of the study, published on Thursday in the American Journal of...
  • Study: Only 15 Percent Of Democrats Believe Economic News Is Bad

    09/20/2012 11:39:25 AM PDT · by Roberts · 44 replies
    CBS DC ^ | 9/20/12 | cbs dc
    With just 47 days before the general election and Mitt Romney attempting to pivot the focus of the election back on the state of the economy, citizens with Democratic leanings are actually doing an about-face on the economy compared to their Republican counterparts, according to a recent study from the Pew Research Center. New data found that just 15 percent of Democrats believe that recent economic news is mostly poor, a percentage that took a significant drop from the 31 percent of Democrats polled last month who did think that economic news was mostly bad. According to the study, the...
  • The “Depression that Shall Not Be Named” — things we notice that the corrupt media won’t report

    09/19/2012 12:15:19 PM PDT · by grundle · 50 replies
    hillbuzz.org ^ | Sseptember 18, 2012 | Kevin DuJan
    Full title: Ground Reports from the “Depression that Shall Not Be Named” — things we notice that the corrupt media won’t report that show this is indeed a Depression On my desk, just under the computer monitor, I have a little box full of slips of scrap paper. I’ve been doing this since I was a kid because the nuns who taught me in Catholic School refused to ever waste paper. Anything that comes into my home that’s blank on one side and has outlived its usefulness is drawn and quartered and spends some time as scrap paper in that...
  • If Obama had matched Reagan’s recovery rate, 15.7 million more Americans would have jobs

    09/17/2012 12:41:15 PM PDT · by grundle · 5 replies
    wordpress ^ | September 14, 2012 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog “Policy matters. If Barack Obama matched Ronald Reagan’s post-recession recovery rate, 15.7 million more Americans would have jobs.” The title of this post is a quote from the Wall St. Journal. On April 15, 2011, the Wall St. Journal wrote:Policy matters. If Barack Obama matched Ronald Reagan’s post-recession recovery rate, 15.7 million more Americans would have jobs.Some apologists suggest that the current recovery is so weak because the recession was so deep. But the totality of our experience in the postwar period is exactly the opposite—the bigger the bust, the bigger the boom that follows.If we...
  • Obama Bent on Re-creating ‘The Grapes of Wrath’

    09/17/2012 7:56:37 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | September 17, 2012 | Peter Ferrara
    President Obama started his Democratic Convention nomination acceptance speech with one overriding truth: “But when all is said and done – when you pick up that ballot to vote – you will face the clearest choice of any time in a generation. It will be a choice between two different paths for America. A choice between two fundamentally different visions for the future.” Truer words were never spoken. Because America is deciding in this election whether it wants to ditch the economic system that made us the richest, most prosperous nation in the history of the world, for the hope...
  • Federal Reserve launches QE3

    09/13/2012 11:04:20 AM PDT · by KansasGirl · 26 replies
    CNN ^ | 9/13/12 | Annalynn Censky
    NEW YORK (CNNMoney) -- The Federal Reserve announced plans to unleash more stimulus Thursday, in its third attempt at a controversial program to rev up the U.S. economy. The policy, known as quantitative easing and often abbreviated as QE3, entails buying $40 billion in mortgage-backed securities each month. The end date remains up in the air, as the Fed will re-evaluate the strength of the economy in coming months. The Fed is wasting no time. The purchases begin Friday and are expected to total about $23 billion over the remainder of September.
  • Bernanke Echoes CBO's Report of "Massive Fiscal Cliff"

    09/12/2012 11:54:37 AM PDT · by 92nina · 4 replies
    ATR ^ | 2012-09-10 | Rhett Brooks
    At the Federal Reserve’s last conference meeting in Jackson Hole, Wyoming, Federal Reserve Chairman Ben Bernanke gave the Fed’s outlook for the U.S. economy. Taxmageddon was one of Bernanke’s biggest concerns, as he warned of a “massive fiscal cliff.” Bernanke suggested that Congress “figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date.” Bernanke’s statements echoed the CBO’s latest report on the economy that also warned of a “massive fiscal cliff”, one that would undoubtedly lead to a recession in 2013. Bernanke has made it clear in his past warnings to Congress...
  • Obama's Next Big Bounce May Be Out Of Office

    09/11/2012 8:44:23 AM PDT · by nhwingut · 17 replies
    Investors Business Daily ^ | 09/11/2012 | PHYLLIS SCHLAFLY
    The bounce expected from Barack Obama's Democratic Convention speech collapsed the following day under the reality check that the current unemployment figure is 8.1%. And 40.7% of those people have been out of work for 27 weeks or more. Those numbers tell only a small part of Obama's failure to deliver on his promises. The real unemployment figure is closer to 19%. The official count doesn't include the 8 million unemployed who have given up and stopped looking for a job, the people who have had to settle for part-time work, those who had to take lower-paying jobs that are...
  • Rhetoric can't mask unemployment numbers

    09/10/2012 12:52:50 PM PDT · by Innovative · 2 replies
    Chicago Tribune ^ | Sept 9, 2012 | John Kass
    His (Obama's) stubborn insistence that government - and not small business - is the way to grow jobs and the economy has always been wrong. That he keeps insisting, with 88.9 million Americans out of work, has become morally unacceptable. The early news coverage Friday reported that the unemployment rate fell from 8.3 to 8.1 percent, with headlines suggesting it wasn't all that bad, maybe even a slight positive for the president. It wasn't all that bad. It was worse. The reason the unemployment fell to 8.1 percent was that 368,000 Americans had given up looking for work, bringing the...
  • HP adds to layoff tally, now plans 29,000 job cuts

    09/10/2012 1:40:48 PM PDT · by massmike · 45 replies
    http://money.msn.com ^ | 09/10/2012 | n/a
    Hewlett Packard now plans to layoff 29,000 employees, increasing the total number of job cuts by 2,000 over the next two years as it tries to kickstart growth. HP, which will cut jobs through a combination of involuntary cuts and early retirement offers, expects to take charges of about $3.3 billion through the end of HP's 2014 fiscal year for the workforce reductions, it said in a regulatory filing on Monday. HP will likely have cut 11,500 jobs by end of fiscal 2012, the company has said.
  • Study: Recovery For Burger-Flippers Only

    09/10/2012 12:25:23 PM PDT · by dennisw · 13 replies
    breitbart.com/ ^ | 9 Sep 2012 | by Ben Shapiro
    According to new analysis of unemployment data by the National Employment Law Project, while 60 percent of the jobs lost during the 2008-2009 financial crisis were in middle income occupations, the vast majority – 58 percent – of jobs created under President Obama are low-wage. Those jobs include “retail sales, food preparation, home health and customer service.” “The recovery continues to be skewed toward low-wage jobs, reinforcing the rise in inequality and America’s deficit of good jobs,” said the author of the study, Annette Bernhardt. “While there’s understandably a lot of focus on getting employment back to pre-recession levels, the...
  • Obama Doubled the Jobs Deficit : There are 86,000 fewer jobs today than when he took office

    09/10/2012 7:28:39 AM PDT · by SeekAndFind · 6 replies
    National Review ^ | 09/10/2012 | Bob Beauprez
    President Obama has spun the latest jobs report in a desperate effort to keep his own job, stressing to voters that August saw modest job growth in the private sector. What the president won’t say is that the growth is measured only against the previous month’s report from the Bureau of Labor Statistics and that 86,000 fewer jobs exist in America today than when he took office in January 2009. Moreover, whatever modest jobs growth the president can claim in recent months is dwarfed by the increase of the work-force population. During the Obama administration, the jobs deficit has doubled...
  • Obama ISO Idiots

    09/10/2012 4:20:52 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | September 10, 2012 | Lurita Doan
    President Obama's acceptance speech at the Democratic National Convention was scary. What Americans heard is a thinly disguised plan to continue with an effort to further the addiction of American voters to government subsidies, aid and handouts. Every person in the nation should already understand that our government has made promises that it cannot afford to honor. Yet, our president, incredibly, advances ideas that would expand entitlements at the very time when a rising debt and 4 years of shameful $1 trillion dollar annual deficits have eroded American prosperity. Mr. Obama’s only plan, it seems, is to continue looting the...
  • Middle Class Jobs Are Being Replaced By Burger-Flipping, Retail Sales, And Other Lousy McJobs

    09/06/2012 4:16:43 AM PDT · by tobyhill · 93 replies
    business Insider ^ | 9/4/2012 | Aaron Task
    There's been a lot of talk in recent years about the "hollowing out" of the American middle class. A new study by the National Employment Law Project (NELP) confirms the troubling trend. NELP broke down jobs into low/ middle/and high-wage groups based on median incomes. Looking at the period from early 2008 through the first quarter of 2012, the study found: "High-wage" occupations accounted for 19% of the jobs lost during the Great Recession and 20% of the jobs gained during the recovery. "Mid-wage" occupations suffered 60% of job losses during the recession but only 22% of the growth during...
  • UH-OH: Orders Of Heavy Duty Trucks Have Collapsed

    09/05/2012 10:13:03 AM PDT · by fella · 35 replies
    businessinsider. ^ | Aug. 6, 2012 | Matthew Boesler
    UH-OH: Orders Of Heavy Duty Trucks Have Collapsed Matthew Boesler|Aug. 6, 2012, 5:18 PM|9,386|15 Almost everything everyone owns in America has spent at least some time in a truck. As such, the health of the trucking industry is a pretty reliable indicator of the health of the economy. In July, NAFTA Class 8 truck (basically heavy duty trucks) orders collapsed – 12,900 new orders were booked for trucks, short of the consensus of analysts, who were expecting 16,000-17,000. And it's not just seasonality that played a role. Nigel Coe, an equity analyst covering multi-industry stocks for Morgan Stanley, alerted clients...
  • The Question Nobody Wants to Answer

    09/05/2012 5:23:51 AM PDT · by SeekAndFind · 17 replies
    Townhall ^ | 09/05/2012 | Jonah Goldberg
    You have to feel a little sorry for Team Obama as they squirm to explain why the question "Are you better off now than you were four years ago?" is so unfair. After all, there is only one way to answer it and retain any credibility. Which is why Maryland's Democratic Gov. Martin O'Malley, when asked, responded, No, we're not. Within 24 hours, he reversed himself, by all accounts because the Obama campaign forced him to. I haven't checked the video to see if he was blinking T-O-R-T-U-R-E in Morse code as he did so. The idea that presidents "run"...
  • America's Truckers Have Some Bad News About The US Economy

    08/28/2012 9:13:09 AM PDT · by blam · 16 replies
    TBI ^ | 8-28-2012 | Sam Ro
    America's Truckers Have Some Bad News About The US Economy Sam Ro Aug. 28, 2012, 10:50 AM Almost every good we own has been in a truck at one point or another. As such trucking volumes are a key bellwether of the U.S. economy. Unfortunately, truck volumes are looking "weaker than normal" so far in August. This is according to Christian Wetherbee, Citi's trucking analyst. From his note to clients: Last week we conducted a series of channel checks in the Truckload sector and while July freight was in line with expected seasonality, and up from last year’s relative weakness,...
  • HUGE MISS: CONSUMER CONFIDENCE PLUNGES TO 60.6

    08/28/2012 7:20:43 AM PDT · by SeekAndFind · 22 replies
    Business Insider ^ | 08/28/2012 | Mamta Badkar and Eric Platt
    Consumer confidence missed big in August falling to 60.6. The reading is the lowest since November 2011. Meanwhile, July's reading was revised down to 65.4. "Consumers were more apprehensive about business and employment prospects, but more optimistic about their financial prospects despite rising inflation expectations," according to Lynn Franco, Director of Economic Indicators at The Conference Board. "Consumers' assessment of current conditions was virtually unchanged, suggesting no significant pickup or deterioration in the pace of growth." But the number is still above 60, showing the report wasn't a complete disaster. Here are some highlights from the report: The percent saying...
  • REPORT: Almost Every Household Is Worse Off Now Than It Was Three Years Ago

    08/27/2012 12:05:02 PM PDT · by GlockThe Vote · 76 replies
    BI ^ | 8/27/2012 | Jill Krazny
    As the economy sputters along, consumers are feeling the squeeze in their annual paychecks. That's according to Sentier Research, whose latest report found household incomes have been declining ever since the recovery began in June 2009. The numbers are striking: Yearly household income dwindled by 4.8 percent between June 2009 and 2012 from $53,508 to $50,964, although several types of households fared much worse than that. "Based on our data, almost every group is worse off now than it was three years ago, with the exception of households with householders 65-years-old and over," said researcher Gordon Green.
  • CBO sees deeper "fiscal cliff" recession next year

    08/22/2012 8:25:12 AM PDT · by Kartographer · 6 replies
    Reuters via Yahoo News ^ | 8/22/12 | David Lawder
    The Congressional Budget Office said failure to avoid the so-called "fiscal cliff" of expiring tax cuts and automatic spending reductions would cause U.S. gross domestic product to shrink 0.5 percent in 2013. Previously, the non-partisan CBO forecast full-year GDP growth of 0.5 percent. The first half of 2013 will be particularly difficult, the CBO said in its mid-year forecast update. Tax hikes and spending cuts will cause GDP to shrink 2.9 percent in the first half, compared with a prediction in May for a 1.9 percent contraction. There will still be a slight bounceback in the second half of 2013,...
  • Economist Richard Duncan: Civilization May Not Survive 'Death Spiral'

    08/22/2012 6:30:24 AM PDT · by jpl · 79 replies
    Money Morning ^ | Wednesday August 22, 2012 | Terry Weiss
    Richard Duncan, formerly of the World Bank and chief economist at Blackhorse Asset Mgmt., says America's $16 trillion federal debt has escalated into a "death spiral, "as he told CNBC. And it could result in a depression so severe that he doesn't "think our civilization could survive it." And Duncan is not alone in warning that the U.S. economy may go into a "death spiral." Since the recession, noted economists including Laurence Kotlikoff, a former member of President Reagan's Council of Economic Advisers, have come to similar conclusions. Kotlikoff estimates the true fiscal gap is $211 trillion when unfunded entitlements...
  • Focus of Presidential Campaign Shifts Away From Economy

    08/21/2012 5:40:39 AM PDT · by SoFloFreeper · 9 replies
    NY TIMES ^ | 8/21/12 | Richard W. Stevenson
    Actually, it’s not the economy. At least not this week. A presidential campaign that Republicans wanted to be focused relentlessly on President Obama’s job-creation record seems to be about almost everything else at the moment. In part that’s the result of a monthslong effort by the Obama campaign to shift attention to Mitt Romney’s wealth and business record. In part it’s the result of what now appears to be a strategic shift by Mr. Romney, who had spent much of this year hammering home his credentials as Mr. Economic Fix-It. His choice of Paul D. Ryan as his running mate...
  • Swing-State Voters Say They Are No Better Off Than in 2008

    08/20/2012 6:49:42 AM PDT · by RobinMasters · 20 replies
    Gallup ^ | August 20, 2012 | Jeffrey M. Jones
    PRINCETON, NJ -- A majority of voters in key 2012 election swing states say they are not better off than they were four years ago; 40% say they are better off. Swing-state voters' assessments of their situation compared with 2008 have varied little since last fall.
  • Women should stay out of workforce (Letter to Editor)

    08/20/2012 4:24:15 AM PDT · by rightwingintelligentsia · 77 replies
    Washington Observer-Reporter ^ | August 14, 2012 | Donn C. Drummond
    Prior to World War II and immediately thereafter, most married women in this country worked in their homes raising their children and keeping house. Then during the late 1960s, radical feminists encouraged young women to set aside their traditional family roles as homemakers, helpmates, child nurturers and husband civilizers for something trumpted as much more rewarding. Women were told that being a stay-at-home mom was nothing more than enslavement perpetrated by their male chauvinist husbands. Forget family life and children. Women could be happy and achieve fulfillment by capably competing with men in the workplace for equal jobs with equal...
  • Potentially Devastating News on the Obama Economy

    08/18/2012 9:31:18 AM PDT · by NMRed · 45 replies
    American Thinker ^ | 08/18/2012 | William Tate
    The Gallup Organization had some bad news for Barack Obama on Friday. It's not that Obama fell behind Mitt Romney by two points in Gallup's daily tracking poll, although that couldn't have helped the the O-Team's spirits heading into the weekend. Between now and the election, polls are likely to be less stable than Joe Biden's thought process. The really bad news for the Chicago mob is that Gallup's unemployment survey shows the Obama economy is getting even worse. Gallup reported an uptick in joblessness in their latest survey of 30,000 households.
  • Gallup:August Unemployment Not Looking Good

    08/18/2012 6:55:54 AM PDT · by lbryce · 18 replies
    Gallup.com ^ | August 17, 2012 | Staff
    New Gallup unemployment data suggest an increase in the government's seasonally adjusted unemployment rate for August when it is reported on Friday, Sept. 7. During recent months, Gallup's measurements have been more optimistic than those of the BLS. Barring a sharp reversal in this relationship, the government's unadjusted unemployment rate might be expected to stay the same or increase in August. Gallup's Daily tracking of the unemployment situation is based on interviews with more than 30,000 adults over the 30 days ending Aug. 15, and shows essentially no change in the unadjusted unemployment rate at 8.3% compared to 8.2% in...
  • Unemployment Up in 44 States; Down in DC

    08/18/2012 5:55:20 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | August 18, 2012 | Mike Shedlock
    Unemployment was up in 44 States, down in two states, down in D.C, and unchanged in four others. There has been no improvement nationally this year. Bloomberg reports U.S. Joblessness Rise Broad-Based as 44 States Show Gain
  • Five years on, the Great Recession is turning into a life sentence

    08/12/2012 5:35:34 PM PDT · by bruinbirdman · 8 replies
    The Telegraph ^ | 8/12/2012 | Ambrose Evans-Pritchard
    Five years into the Long Slump it almost seems as if we are back to square one. China is sufficiently alarmed by the flint hardness of its "soft-landing" to talk up trillions of fresh stimulus. The European Central Bank is preparing to print “whatever it takes”to save Spain and Italy. Markets are pricing in an 80pc chance of yet more printing by the US Federal Reserve in September or soon after. There is no doubt that the three superpowers acting in concert can launch a mini-cycle of growth early next year - assuming they deliver on their rhetoric - but...
  • Back-to-school shoppers in no mood to splurge

    08/12/2012 7:56:23 AM PDT · by Hojczyk · 33 replies
    Yahoo Finance ^ | August 11,2012 | Dhanya Skariachan
    Teenager Fanta Bagayoko personifies U.S. retailers' worst nightmare this back-to-school season. "I feel like the economy is messed up," the 18-year-old said while shopping at a Walmart in New Jersey, for herself and her niece. "Money wise, I still feel like we are in a recession." It has been more than three years since the official end of the brutal U.S. recession, but Bagayoko and several other U.S. shoppers said they are not feeling better about the economy or their own finances, and are spending only on essential items. That does not bode well for U.S. retailers that are hoping...
  • Obama: Let's repeat auto industry success with every manufacturing industry

    08/09/2012 1:06:47 PM PDT · by GregNH · 59 replies
    POLITICO ^ | 8/9/2012 | DONOVAN SLACK
    VIDEO LINK
  • Used Vehicle Prices Plunge Signaling End Of Auto Party

    08/08/2012 7:00:38 PM PDT · by nascarnation · 43 replies
    Zero Hedge ^ | 8/8/12 | Tyler Durden
    However, there is one index that tends to see through all the unreality much more clearly than our analysis above, that is the Used Vehicle Price index. Each time this index has dropped and broken below its two-year average, the auto industry has tended to fade rapidly.
  • WaPo Random Act of Journalism: US Economy Lost 1.2 Million Jobs in July

    08/06/2012 8:28:29 PM PDT · by Kaslin · 5 replies
    Rush Limbaugh.com ^ | August 6, 2012 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Want to go back to the unemployment numbers that came out Thursday and Friday. You know, the employment number went up to 8.3%. The Bureau of Labor Statistics said that 163,000 new jobs were created. We used BLS numbers ourselves to show you how this isn't true. We talked about "seasonal adjustment." But a random act of journalism -- a stunning random act of journalism -- in the Washington Post yesterday in the Sunday paper. They actually wrote (this was the headline): "Wait, the US Economy Actually Lost 1.2 Million Jobs in July? -- The US economy...
  • Unemployment rises, hundreds of thousands quit looking (UE rate drop since 2009 due to giving up)

    08/06/2012 10:00:53 AM PDT · by xzins · 15 replies
    UPI: Outside View ^ | Aug. 3, 2012 | Peter Morici
    The U.S. economy added 163,000 jobs in July. Although an improvement over the first quarter, the ranks of the unemployed swelled another 45,000. ...The unemployment rate rose to 8.3 percent even as 348,000 workers quit looking for work and were no longer counted in the official jobless tally. In the weakest recovery since the Great Depression, nearly the entire reduction in unemployment since October 2009 has been accomplished through a significant drop in the percentage of adults participating in the labor force -- either working or looking for work. Growth slowed to 1.5 percent in the second quarter as consumers...
  • Bernanke: despite recovery, many struggling

    08/06/2012 12:48:45 PM PDT · by John W · 24 replies
    Reuters via Yahoo News ^ | August 6, 2012 | Reuters
    WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Monday that although broad measurements of the economy point to recovery, many people and businesses are facing tough times. "Even though some key aggregate metrics -- including consumer spending, disposable income, household net worth, and debt service payments -- have moved in the direction of recovery, it is clear that many individuals and households continue to struggle with difficult economic and financial conditions," he said in prepared text. Bernanke was speaking to a research conference on the topic of economic measurement. He did not discuss the outlook for monetary policy...
  • July Jobs Report: We Tried President Obama’s Plan And It Didn’t Work

    08/06/2012 12:33:13 PM PDT · by 92nina · 3 replies
    ATRF ^ | 2012-08-03 | Jeremy Sawyer
    Speaking about the economy recently on the campaign trail, President Obama stated, “We tried our plan and it worked.” Yet new data released this morning by the Bureau of Labor Statistics confirm that the president is living in an alternate reality if he truly believes that statement. The Reagan recovery began in November 1982 with the end of the early 1980s recession. Through the first 37 months of that recovery, 9.817 million nonfarm jobs were added to the American economy. That represented a solid 11.06 percent change in total nonfarm employment. Meanwhile, President Obama has overseen a far different recovery...
  • Fearing an Impasse in Congress, Industry Cuts Spending

    08/06/2012 11:01:49 AM PDT · by SeekAndFind · 26 replies
    New York Times ^ | 08/06/2012 | NELSON D. SCHWARTZ
    A rising number of manufacturers are canceling new investments and putting off new hires because they fear paralysis in Washington will force hundreds of billions in tax increases and budget cuts in January, undermining economic growth in the coming months. Executives at companies making everything from electrical components and power systems to automotive parts say the fiscal stalemate is prompting them to pull back now, rather than wait for a possible resolution to the deadlock on Capitol Hill. Democrats and Republicans are far apart on how to extend the Bush-era tax breaks beyond January — the same month automatic spending...
  • I don’t believe ‘em (The fraud that was last week's jobless report)

    08/06/2012 8:29:33 AM PDT · by SeekAndFind · 3 replies
    New York Post ^ | 08/06/2012 | John Crudele
    <p>It’s cheatin’ time in Washington. I’ve long believed the Labor Department’s monthly employment statistics are horribly inaccurate. So bad, in fact, that they are hardly worth compiling.</p> <p>But I never thought the numbers were fudged — until now. The government reported yesterday that 163,000 jobs were created in July and that the unemployment rate rose by 0.1 percentage points to 8.3 percent.</p>
  • Washington Post loses $15.9 million in Q2

    08/03/2012 11:53:50 AM PDT · by mandaladon · 12 replies
    Politico ^ | 3 Aug 2012 | DYLAN BYERS
    The Washington Post continued to struggle in the second quarter even as its parent company reported 13.6 percent increases in profit. The newspaper division, which includes the newspaper's website and the online magazine, Slate, reported an operating loss of $15.9 million in the second quarter, compared to a $2.9 million loss for the same period a year ago. Print advertising suffered a 15 percent drop year-on-year in the second quarter, as daily print circulation fell 9.3 percent in the first six months of 2012 to an average of 482,100 copies. Sunday circulation was down 6.1 percent in the same period...
  • Obama Wins The Gold For Worst Economic Recovery Ever

    08/02/2012 6:58:46 AM PDT · by SeekAndFind · 5 replies
    Forbes ^ | 08/02/2012 | Louis Woodhill
    If mismanaging an economic recovery were an Olympic event, President Obama would be standing on the middle platform right now, accepting the gold medal. Deep recessions are supposed to be followed by strong recoveries, but, under Obama, the worst recession since the 1930s has been followed by the slowest economic recovery in the history of the republic. In a very real sense, there has been no recovery at all—things are still getting worse. To win the gold for economic mismanagement, Obama had to beat out some very tough competitors, including the previous Olympic record holder, George W. Bush. Let’s look...
  • Low-paying jobs are here to stay (Obama's Fault)

    08/02/2012 4:17:17 AM PDT · by tobyhill · 13 replies
    cnn ^ | 8/2/2012 | By Tami Luhby
    Stuck in a job with lousy pay? Better get used to it. Some 28% of workers are expected to hold low-wage jobs in 2020, roughly the same percentage as in 2010, according to a study by the Economic Policy Institute. The study defines low-paying jobs as those with wages at or below what full-time workers must earn to live above the poverty level for a family of four. In 2011, this was $23,005, or $11.06 an hour. The economy won't support much growth in jobs with higher salaries, said Rebecca Thiess, policy analyst at the left-leaning Economic Policy Institute, who...
  • Weekly jobless claims rise less than expected

    08/02/2012 6:53:17 AM PDT · by traumer · 22 replies
    WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits rose less than expected last week, but the data continues to be influenced by distortions from seasonal auto shutdowns. Initial claims for state unemployment benefits rose 8,000 to a seasonally adjusted 365,000, the Labor Department said on Thursday. The prior week's figure was revised up to 357,000 from the previously reported 353,000. "The claims number is not that bad. There does seem to be some difficulty dealing with the seasonals this time of year whether it's auto plant closures or lack thereof," said Cary Leahey, a senior...
  • Gallup: Unemployment went up in July

    08/02/2012 7:14:09 AM PDT · by SeekAndFind · 16 replies
    Hotair ^ | 08/02/2012 | Ed Morrissey
    Two more indicators previewing tomorrow's July jobs report are in today, and neither look particularly good. First, weekly jobless claims went back up again after a sharp drop the week before --- which was amended upward in today's report, too: In the week ending July 28 the advance figure for seasonally adjusted initial claims was 365,000, an increase of 8,000 from the previous week's revised figure of 357,000. The 4-week moving average was 365,500, a decrease of 2,750 from the previous week's revised average of 368,250.The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending July...
  • Manufacturing Gaffes

    08/02/2012 4:58:21 AM PDT · by expat1000 · 8 replies
    Sultan Knish ^ | Wednesday, August 01, 2012 | Daniel Greenfield
    If you read the newspaper, watch the telly or turn the radio dial to something besides talk or the greatest hits of the 70's, 80's and today, then you know that Romney's international trip was a disaster. How do you know that? Well you know it the same way that Soviet citizens knew that their economy was booming and it would only be a matter of time before the oppressed slaves of capitalism threw off their shackles and bowed their arrogant heads to the hammer and sickle. They read it in the paper. We read things in the paper too....