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OrionTheWolf -> RE: Economy gets lift: Layoffs ease, home building up (6/16/2011 2:45:41 PM)
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~FR~
All I saw that they seem to base this off of was unemployment claims down, and new home building up. There needs to be more to the mix than this simple indicator. Manufacturing and inventory has been down, exports have been down, imports have been up, consumer spending has been down, though there has been a rise in spending on services.
While I like to see positive things, I like to see substance along with it. The fiscal policies of the government have not been worked out, there is estimates that new car sales will be down, and it is more difficult to qualify for loans on homes so not as many will be sold.
Our GDP was 1.8 for first quarter 2011, that is down from 3.1 in fourth quarter 2010. The amount of small and medium business loans are down, and while foreclosures are down the real estate market value has not gone back up that much.
I do not see a big turn around anytime soon, especially with the current political climate.
Food prices are expected to stay up and possible rise through 2012, this is due to the flooding happening.
Lower oil prices are good, and is one factor in making for a stronger dollar, but the deficit amount, along with other government factors keeps it bouncing.
I do hope this is an indicator of things turning around, but when I see some of the same faces making bad decisions, anonymous earmarks for huge spending, exports down, imports up, and homes still vacant, I do not see that much progress.
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