Death of the Dollar

[exstatic]

yeah the economy is in shambles as the unemployment rate is at record lows.

Unemployment figures are a Fig Newton of someone's imagination, and have been massaged many different times to reflect low percentages. They, in no way, represent the percentage of Americans out of work.

[Nbadan]

No doubt people are working longer and harder...but...

Late payments on a cluster of consumer loans, including those for autos, home improvement and certain home equity loans, climbed in the summer to their highest point since the country's last recession in 2001.

The American Bankers Association reported Thursday that the delinquency rate on a composite of consumer loans increased to 2.44 percent in the July-to-September quarter. That was up sharply from 2.27 percent in the previous quarter and was the highest late-payment rate since the second quarter of 2001, when the economy was suffering through a recession.

Link

[SouthernFried]

All economic numbers are usually BS. Not just unemployment ones. I always smile when people diss one economic stat, and then use another one in a different debate.

After taking 24 hours of economics when I was in business school, I came to the realization, economists don't have a ing clue what they're talking about. And the numbers are so close to arbitrarily made up, that I pretty much deem them all irrelevant. Just change your database, or subs ute an X in an equation for a Y...And if I heard one more "let's assume..."

Probably the reason most business's have accounting/marketing/production etc, departments...but no "economics" one. Mostly used by politico types to justify a position...on both sides of the debate. Just find the "right thinking" economist to support your side, cuz you always can.

SIG

[Bunz]

Plus the unemployment rate is going up. Its the highest since Nov. 2005

[Nbadan]

Dubya goes into a XRay hallucination....

WASHINGTON (AP) -- President Bush said Friday that while there is some uncertainty about slowing economic growth, the nation's "financial markets are strong and solid."

Bush spoke after meeting with his top economic advisers about possibly drafting a package to stimulate the U.S. economy as it weathers the housing slump, rising oil prices and an uptick in unemployment.

"This economy is on a solid foundation," Bush said. But he also said it can't be taken for granted, and there are some signs of concern that require the administration and Congress to be careful to ensure economic strength.

"There are signs that cause us to be ever more diligent in making sure good policies come out of Washington," he said.

Sitting around a table with his economic advisers in the Roosevelt Room, the president warned Congress against taking steps that would increase taxes. "If the foundation is strong yet indicators are mixed, the worst thing Congress could do is raise taxes," Bush said.

CNN

Where by "strong" he means "almost completely ed", I guess

o Dow currently: 12,807.74 -248.98 -1.91%

o Dow gain over last 12 months: about 5% (but dollar lost over 10% against Euro, so in 'real' money Dow LOST over 5%)

o Unemployment now 5% (official, playing all kinds of games with jobs 'assumed created')

o Irony is lost on these guys: "with his economic advisers in the Roosevelt Room . . . "

[SouthernFried]

Where by "strong" he means "almost completely ed", I guess

o Dow currently: 12,807.74 -248.98 -1.91%

o Dow gain over last 12 months: about 5% (but dollar lost over 10% against Euro, so in 'real' money Dow LOST over 5%)

o Unemployment now 5% (official, playing all kinds of games with jobs 'assumed created')

When did the EURO become the basis for "real money?" It only means if you changed the dollar into Euro's, you would get less Euro's.

So, In Euro's...the Dow has went down. In Dollars, the Dow has went up. That is all that particular statistic means. If you used the Japanese Yen as your basis for "real money," the Dow's value has been steadily increasing since 1995.

And all through the latter half of the 20th century, 7% unemployment has been considered "full employment."


Like I said...people decry stats that make the other side look better, then turn around and use different ones just as innapropriately...to make their side look better.

so it goes...and goes...and goes...ad nauseum

[boutons_]

dubya getting worried, in the Mad "What? Me worry?" style, about the super strong economy:

http://www.nytimes.com/2008/01/04/wa...hbY8wz/PJOR50w

[SouthernFried]

If you cannot process a coherent thought...just post the email of the persons thoughts your using.. instead of a link.

We'll all be much happier trading emails with the person who's actually doing the thinking...than with the middleman who is just relaying messages.

Thanks.
SF

[BradLohaus]

When did the EURO become the basis for "real money?" It only means if you changed the dollar into Euro's, you would get less Euro's.

So, In Euro's...the Dow has went down. In Dollars, the Dow has went up. That is all that particular statistic means. If you used the Japanese Yen as your basis for "real money," the Dow's value has been steadily increasing since 1995.

Yeah, gold is the true money. But comparing the Dow to gold over the last 5 or so years isn't pretty. That tells us all we need to know about real returns.