Double-Dip Double-hype

[Nbadan]

The economy grew since July at the fastest rate in a year...


~ Dow back above 12,000 mark as all three markets rise
~ S&P 500 and Nasdaq indexes both jump four per cent
~ Dow is on pace for its biggest monthly gain in history
~ U.S. economy grew since July at fastest rate in a year

... reports on the U.S. economy have improved... The economy grew at a 2.5 per cent annual rate from July through September on stronger consumer spending and business investment. That nearly doubled the economy's 1.3 per cent growth in the earlier quarter and helps calm worries about another pending recession.

DailyMail (http://www.dailymail.co.uk/news/article-2054206/Wall-Street-surges-Euro-bailout--China-prepares-foothold-Western-economy.html)

Gallup Finds Significant Drop in Unemployment During October Unemployment, without seasonal adjustment, fell to 8.3% in the 30 days ending Oct. 23

http://sas-origin.onstreammedia.com/origin/gallupinc/GallupSpaces/Production/Cms/POLL/assglsemkuk54qwdohmgfq.gif

All this, plus the tar-sands in North Dakota are prompting a boom

[admiralsnackbar]

I'll believe it when we're out of the woods.

[Nbadan]

I'll believe it when we're out of the woods.

That's gonna take time, even under the best circumstances, but good to see that Obama is righting the ship and things are headed in the right direction again after 8 years of a sinking economy..

[admiralsnackbar]

I voted for Obama, and while I still think he was the best available option, I am confident that if this recession ends, it will have had very little to do with him.

[Nbadan]

I voted for Obama, and while I still think he was the best available option, I am confident that if this recession ends, it will have had very little to do with him.

Well, technically were not in a recession....but Obama does deserve some credit, just as Bush deserves much of the blame....Congress may control the purse strings but the President does sign the checks....

[Nbadan]

...still Obama's gotta do more than just sign a couple of executive orders to help out with his base...

[admiralsnackbar]

Well, technically were not in a recession....
What metrics are you going by?


but Obama does deserve some credit
Oh?

[hitmanyr2k]

That's gonna take time, even under the best circumstances, but good to see that Obama is righting the ship and things are headed in the right direction again after 8 years of a sinking economy..

Republicans aren't going to let their ace in the hole slip away. I'm sure they'll pull something out of their collective asses to slow shit up. That's what the debt ceiling fiasco was all about this summer...do anything to slow the economy or make it worse in preparation for 2012.

[Nbadan]

Republicans aren't going to let their ace in the hole slip away. I'm sure they'll pull something out of their collective asses to slow shit up. That's what the debt ceiling fiasco was all about this summer...do anything to slow the economy or make it worse in preparation for 2012.

Oh, there's no doubt that the GOP is doing what it can to sabotage the US economy in preparation for the 2012 election but they tried to do the same thing to Clinton and shit still got done....the economy has a lot of inertia...growth begets more growth.....assuming we've navigated past the pitfalls....all this with a very limited stimulus package...imagine what a real progressive jobs package would do...

[Nbadan]

What metrics are you going by?


Oh?


the traditional one....negative or zero growth in GDP in consecutive quarters....we haven't had zero growth in any quarter....so even by the most conservative definition, we are not in a recession..

[boutons_deux]

the jobs depression and the mortgage disaster are as bad as ever with no relieve in sight, so fuck GDP and fuck Wall St/Oilco profits.

[Halberto]

^I'm not following this statement. Why fuck GDP and Wall St/Oilco profits?

[Drachen]

the jobs depression and the mortgage disaster are as bad as ever with no relieve in sight, so fuck GDP and fuck Wall St/Oilco profits.


^I'm not following this statement. Why fuck GDP and Wall St/Oilco profits?

Be fair Halberto, you know why "fuck Wall St/Oilco profits". B_D has made that very clear over and over and over and over and over and over and over and over and over and over and over and over and over and over again. However, I am a little curious as to why "fuck GDP" too.

Oh and BD, thanks for your input.

[boutons_deux]

GDP and Wall St successes are obviously detached from the 99%, esp the jobless and housing disasters, both which will keep a recovery from really pulling the 99% anywhere near where they were, and with a future that looks more than negative.

UCA has discovered how to pile up $2T+ in cash and find growth in foreign markets (and foreign manufacturing imported to US) without the need for US jobs.

US consumers are still not consuming, and the corps know it, so they export, export, export, while selling imported stuff to US consumers.

[boutons_deux]

10.4 Million American Families Slide Toward Losing Their Homes -- Is It Time for Debt Forgiveness?

“We are in the reverse New Deal,” Christopher Whalen, a savvy banking expert at Institutional Risk Analytics, told me. He meant that events are dismantling the ingenious engine that helped generate America’s broad middle-class. Homeownership was the main driver in accomplishing that great social change. For three generations, people of modest means could buy a house knowing it would secure their place in the middle-class and allow them to accumulate significant savings. If the family held the standard 30-year, fixed-rate mortgage, they were painlessly saving for the future every time they made a payment, acquiring greater equity in the home as they did so. With moderate inflation, the house would steadily increase in value even as their monthly mortgage payments stayed the same. So the cost of housing actually declined for the family, as a percentage of its income. Meanwhile, the accumulating equity became a nest egg for retirement or something to pass on to the kids.

That virtuous process, originated by New Deal reforms, is in peril and has already shut down for tens of millions, especially working-class families whose incomes are no longer rising. As described by the brokerage investment firm Amherst Securities, the housing picture is ugly. Among the 55 million families with mortgages, one in five is underwater—they owe more on their mortgage than their house is worth—or already delinquent. That’s 10.4 million families who are sliding toward failure and foreclosure. Virtually all of them will become renters, since no bank is likely to give them a new mortgage.

http://www.alternet.org/module/printversion/152897

so just fuck GDP and Wall St bonuses, and fuck MSM for not hyping the disasters that need to be hyped.

[Halberto]

GDP and Wall St successes are obviously detached from the 99%, esp the jobless and housing disasters, both which will keep a recovery from really pulling the 99% anywhere near where they were, and with a future that looks more than negative.

UCA has discovered how to pile up $2T+ in cash and find growth in foreign markets (and foreign manufacturing imported to US) without the need for US jobs.

US consumers are still not consuming, and the corps know it, so they export, export, export, while selling imported stuff to US consumers.

I understand your Wall St. point of view, but I'd rather have them be successful than not.

GDP disconnected from the 99%? The 1% aren't the ones putting in the labor to produce the GDP...

Other than slight greediness (you can't be a successful business without being a little greedy) I don't understand all the hate towards oil companies. Oil companies are a constant supplier of well paying jobs, no matter what your education is.

[boutons_deux]

"hate towards oil companies."

Oilcos abuse their cartelized power to finance progaganda against anti-global warming, against alternative fuels and vehicles, buy politicians to obtain gratuitous subsidies of $Bs/year, accelerated depreciation rates on investments, buy politicians and regulators to suppress, eg, studies on how fatally polluting their businesses are (one of the worst is Chevron/Texaco in Ecuador), eg, studies of fracking pollution have been suppressed and cancelled due to oilco power, suppress studies showing cancer clusters among the refinery/plant workers and neighboring communities.

[Wild Cobra]

"hate towards oil companies."

Oilcos abuse their cartelized power to finance progaganda against anti-global warming, against alternative fuels and vehicles, buy politicians to obtain gratuitous subsidies of $Bs/year, accelerated depreciation rates on investments, buy politicians and regulators to suppress, eg, studies on how fatally polluting their businesses are (one of the worst is Chevron/Texaco in Ecuador), eg, studies of fracking pollution have been suppressed and cancelled due to oilco power, suppress studies showing cancer clusters among the refinery/plant workers and neighboring communities.
Well, there is propaganda both ways. Even if you are correct, and the oilco's pay to have people lie, what about those who lie to say that CO2 is worse than it is?

[boutons_deux]

"there is propaganda both ways"

You Lie, bitch.

Scientists, 1000s of them, worldwide, across many disciplines, are reporting what they find, oilco whores are paid to lie. You, PussyEater, Darrin spread lies for free, I suppose.

[boutons_deux]

Nearly One-Third Of The Unemployed Have Been Out Of Work For A Year Or More

http://thinkprogress.org/wp-content/uploads/2011/11/longtermunemployment1102.jpg


http://thinkprogress.org/economy/2011/11/02/359095/one-third-long-term-unemployment/

===

another hockey stick! :lol