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Economy gets lift: Layoffs ease, home building up - 6/16/2011 12:46:59 PM   
Owner59


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From: Dirty Jersey
Status: offline 		http://beta.news.yahoo.com/economy-gets-lift-layoffs-ease-home-building-174020897.html




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RE: Economy gets lift: Layoffs ease, home building up - 6/16/2011 1:55:25 PM   
Fellow


Posts: 1486
Joined: 9/21/2009
Status: offline 		Mainstream (AP) economic writers try to find some positive signs and then blow them up into a positive forecast message. Obviously, this is what they are ordered to do (or given some kind of sign this is what gets printed). The US economy growth data are rather disappointing. 
See for example:
http://economix.blogs.nytimes.com/2011/06/15/the-great-g-d-p-disappointment/?ref=economy

The economy is good for 40% of the country and this is the status the government tries to maintain at all cost. 

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RE: Economy gets lift: Layoffs ease, home building up - 6/16/2011 1:58:53 PM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline 		Oh. Is that how it works.

Nice of you to keep us informed. Thanks.

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RE: Economy gets lift: Layoffs ease, home building up - 6/16/2011 2:18:10 PM   
SilverMark


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quote:

ORIGINAL: Musicmystery

Oh. Is that how it works.

Nice of you to keep us informed. Thanks.

Yes being a good Patriotic American Citizen, he knows everything....Oh wait, he's from Canada...damn..I misled you!...So sorry MM.

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RE: Economy gets lift: Layoffs ease, home building up - 6/16/2011 2:30:54 PM   
MasterSlaveLA


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RE: Economy gets lift: Layoffs ease, home building up - 6/16/2011 2:45:41 PM   
OrionTheWolf


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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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RE: Economy gets lift: Layoffs ease, home building up - 6/16/2011 3:01:06 PM   
Fellow


Posts: 1486
Joined: 9/21/2009
Status: offline 		Reading the article over, I must say, I may be wrong about the author. There is a contradiction between the title and the content. The text of the article reports mostly news that do not give much optimism.
My initial reaction was due to the fact that most economic forecasters see chronically depressed economy.
For example:
David Rosenberg, chief economist at Gluskin Sheff & Associates, says there is a 99% Chance of Another Recession by 2012. Rosenberg also talks about the outlook for the U.S. economy.

http://globaleconomicanalysis.blogspot.com/2011/06/rosenberg-says-99-chance-of-another.html


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RE: Economy gets lift: Layoffs ease, home building up - 6/16/2011 5:19:32 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		^ I just came from the store.   yeah- everything is rosy.   Way way rosy.



/sarc

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