I don't want to ruin the parade for some of the green shoots people who are in love with Obama and this about 50% rally in the stock market since March 9th, but we're still losing jobs!!!
Cash for Clunkers is a government run program via your tax dollars that will make the economy post a Q3 GDP that is positive. I have no reason to believe that GDP would looj that good in Q3 without that. Some of it is inventory rebuilding, especially with the auto manufacturers. If you read the BLS report they claim that auto manufacturing jobs rose by 28,000. Hmm do we see a Cash for Clunker's program in there somewhere to push sales now only to create lack of sales and more layoffs later (or two government auto firms that start losing their shirts again because they don't lay people off so Obama can be right on with his create of save 3.5 million jobs. Count everyone in the auto industry that they assume would cease to exist if he didn't break Constitutional Law, as a way who specialized in Constitutional Law.
The seasonal adjustments are flawed too because this is normally a time when auto workers pare duty but not they're ramping up because of cash for clunkers and then soon they'll remain for the new '10 models. This is not a typical year and the government did not adjust data for that because they're trying to push the idea that Obama saved the world. The fortunate thing is that Americans are becoming much more informed on the games our government is playing and you can see it with the town hall meetings with the health care debate! Traditional Americans are now mobs being funded by the pharmaceutical firms. but wait, I didn't get any finding for my TEA party speech. Where's my paycheck for it?? Oh blah blah blah... isn't it the left that gets funding from the government to do protests?? No? ACORN gets no funding from the government? You might want to check your facts on that before you rant at me about that one. Go read my blog and you'll see the head of ACORN straight up said there was not a Republican they supported in their history. And well, it's not like Republicans are conservatives these days! I still believe many of them are playing party politics
The unemployment rate dropped to 9.4% from 9.5%. Now I'm not saying it's phony data because the unemployment rate is lower yet we had jobs lost last month. It's that people are exhausting their benefits now and they're dropping out of the labor force because they aren't finding jobs or they've gotten so discouraged. So don't take that down tick as a positive, even though the stock market did.
The key is to look at the data in full. For things to get better the drop needs to be less. We are getting that in the employment pictures so yes, things are getting less bad, the rate of decline in the economy is becoming less. As I said, I expect Q3 to have a positive GDP number and it might be significantly positive. But when will the private sector turn around without government help. You got these fools saying oh the banks repaid TARP, etc. That's because they borrowed from the FDIC's TGLP program (Temporary Liquidity Guaranty Program) so the debt is backed by the gov't and you have nothing to fear so they borrow short term at 2% rather than 6% and hell you pay less in interest and you look oh so wonderful. Ask Goldman Sachs what the interest charges of $20 billion at 2% is, compared to 6%. It's significant and yes, we the taxpayer are on the hook if the screw up and if they don't, they reap all the benefits of it thru sickening bonuses.
The day is not as good as it looks on the surface and it is being manipulated to push the green shoots and keep this stock market soaring, until it stops. Yes the bottom was made but at some point reality must set in and people will realize the multiple for the market is way too high given the anemic growth we will see from the private sector. Should you own stocks, well as long as green shoots and this game is working, yes, but I still believe it will turn around and have a correction. But if you find the right companies that aren't caught up in this mess, I'd say you can feel safe investing in them. There are always companies that are bucking the trends. Even in the Great Depression there were companies that did well despite 25% unemployment.
Hopefully though for people this is all a sign of some confidence. Even though in my opinion, the numbers aren't as good as stated, the rate of decline isn't steepening and that needs to happen before recovery happens. Still lots of things to play out from commercial real estate to small business and CIT which is still a question mark about survival and then how that might affect small business. I am waiting but hopeful we are moving slowing in the right direction. I jus think the government is making is actually last longer by doing what they're doing.
Friday, August 7, 2009
Thursday, August 6, 2009
Its costing you three times more than you thought
Yes the buy your neighbor a car program continues on, via an extra $2 billion for what they call "Cash for Clunkers." I still am wondering why Target Car wouldn't have been considered a clunker. Shouldn't it be cash for gas guzzlers? I'm a little bit lost in the logic behind this, if you as a public official believe in free markets. If any of these Republicans that voted for this say they are for the free market, they are liars and shouldn't be trusted. I know Corker is one of those people so he can go rot in pig urine and feces.
They say it worked so wonderfully. Yeah it wasted $1 billion of taxpayer money to pur perfectly well running vehicles off the road and they cannot be resold so.... Nothing like wasting metal and sending commodity prices like aluminum soaring ever higher. I know Alcoa likes it but who else does?
Whose going to buy a car after this is done?? Why isn't the free market determining when its time to buy a car LIKE I HAD TO DO. Funny I bought a car this year, 2009 but I get zero government handouts for myself. Oh Dave you bought too early, we set these programs up afterwards because you an evil TEA party participant. Yes folks, I am Un-American to our government.
The vote went 60-37. There were amendments that Senators wants to make sure this wasn't a hand out to the rich but that's exactly what it is for. As amendments to keep it for middle and low income families got shot down. Then we're going to hear how we're out of recession when Q3 GDP is positive. No doubt in my mind that we are going to have positive Q3 GDP.
But if that means the recession is over, then how come we we're in recession in Q2 of 2008 when there was what 3% positive GDP from the $600 checks Bush gave out. I really need to ask you a question. What happened 4 or 5 months after this stuff ended. Didn't the economy TANK?? So doesn't it seem to be a bit excessive that these clowns could not put the program on hold and make these amendments if they were goingto do the next batch?? Don't you think with al lthe green shoots talk and these fools on TV saying the recession is over, that this should stop!! If the recession is really over, why does the government need to continue to ramp up deficits like there's no tomorrow. The consumer is 70% of the economy and the government wants to cut that out and become more. That's what will happen when they eventually take over healthcare and I'll need to travel to Asia for a surgery. then we know what happens. What made American great (everyone coming here for specialized surgery) will make east Asia dominate in the New World Order because the true Americans will go there and we'll pay for it ourselves like responsible people unlike community organizers that are chastising other forms of community organizing that respect the nation and the reasons it was founded. Maybe it's because they don't respect America but they do respect the people who don't get good grades but get the job because of affirmative action and they respect those that don't know the language and don't pay taxes or have social security numbers. It is very interesting indeed.
It's pretty sad when my uncle, whose not a US citizen is sending me an e-mail and telling me how scary the privacy is becoming in this nation and the lack of it. Even someone who fled America and despises many things about this country and always pushed us to vote Democrat is saying this. It makes you wonder. It's not just America, the world is watching and the world is saying, whoa that American government has really gonna off the deep end. Sadly it's true and we can only hope like hell in two years things will be different when some party politics creates gridlock. Though the two parties are both bad, the gridlock will spare us from dictatorship that I believe this administration wants.
We need to take America back. Power to the people, not the clowns we're paying healthcare for we know as Congress and the President. Their feces stinks like anyone else, in fact it might stink more because they probably don't take care of themselves as well knowing it's we who are paying their medical expenses.
Here's who voted for this piece of garbage that will make Q3 GDP look great and then our economy can falter back again and the car industry can suffer. Let me tell you another thing. Since people think this is party politics and the RATS vote for this and CANNOTS vote against it. Here is the role call:
Grouped By Vote Position
As you see we had some good Democrats (Leahy, McCaskill, Nelson, Warner) and we some some imposters for Republicans and one surprises me as I thought I could respect him but Senator Corker, I hope you get voted out!!
So the CANNOTS that voted for more taxpayer waste in the stimulus bill were: (Alexander, Bond, Brownback, Collins, Corker, Snow and Voinovich.
Both Tennessee Senators, Alexander and Corker, likely because of auto plants in their districts even though production will get crushed next year and these fools will all get laid off. I can see that with Voinovich as well being in OH which has been hard hit. Anything it takes to get re-elected. It's not about what is right, it's about keeping your corrupt job in Washington. I hope all of those CANNOTS get voted out when their term is up.
America is TIRED OF THE ACT!!
They say it worked so wonderfully. Yeah it wasted $1 billion of taxpayer money to pur perfectly well running vehicles off the road and they cannot be resold so.... Nothing like wasting metal and sending commodity prices like aluminum soaring ever higher. I know Alcoa likes it but who else does?
Whose going to buy a car after this is done?? Why isn't the free market determining when its time to buy a car LIKE I HAD TO DO. Funny I bought a car this year, 2009 but I get zero government handouts for myself. Oh Dave you bought too early, we set these programs up afterwards because you an evil TEA party participant. Yes folks, I am Un-American to our government.
The vote went 60-37. There were amendments that Senators wants to make sure this wasn't a hand out to the rich but that's exactly what it is for. As amendments to keep it for middle and low income families got shot down. Then we're going to hear how we're out of recession when Q3 GDP is positive. No doubt in my mind that we are going to have positive Q3 GDP.
But if that means the recession is over, then how come we we're in recession in Q2 of 2008 when there was what 3% positive GDP from the $600 checks Bush gave out. I really need to ask you a question. What happened 4 or 5 months after this stuff ended. Didn't the economy TANK?? So doesn't it seem to be a bit excessive that these clowns could not put the program on hold and make these amendments if they were goingto do the next batch?? Don't you think with al lthe green shoots talk and these fools on TV saying the recession is over, that this should stop!! If the recession is really over, why does the government need to continue to ramp up deficits like there's no tomorrow. The consumer is 70% of the economy and the government wants to cut that out and become more. That's what will happen when they eventually take over healthcare and I'll need to travel to Asia for a surgery. then we know what happens. What made American great (everyone coming here for specialized surgery) will make east Asia dominate in the New World Order because the true Americans will go there and we'll pay for it ourselves like responsible people unlike community organizers that are chastising other forms of community organizing that respect the nation and the reasons it was founded. Maybe it's because they don't respect America but they do respect the people who don't get good grades but get the job because of affirmative action and they respect those that don't know the language and don't pay taxes or have social security numbers. It is very interesting indeed.
It's pretty sad when my uncle, whose not a US citizen is sending me an e-mail and telling me how scary the privacy is becoming in this nation and the lack of it. Even someone who fled America and despises many things about this country and always pushed us to vote Democrat is saying this. It makes you wonder. It's not just America, the world is watching and the world is saying, whoa that American government has really gonna off the deep end. Sadly it's true and we can only hope like hell in two years things will be different when some party politics creates gridlock. Though the two parties are both bad, the gridlock will spare us from dictatorship that I believe this administration wants.
We need to take America back. Power to the people, not the clowns we're paying healthcare for we know as Congress and the President. Their feces stinks like anyone else, in fact it might stink more because they probably don't take care of themselves as well knowing it's we who are paying their medical expenses.
Here's who voted for this piece of garbage that will make Q3 GDP look great and then our economy can falter back again and the car industry can suffer. Let me tell you another thing. Since people think this is party politics and the RATS vote for this and CANNOTS vote against it. Here is the role call:
Grouped By Vote Position
| YEAs ---60 | ||
| Akaka (D-HI) Alexander (R-TN) Baucus (D-MT) Bayh (D-IN) Begich (D-AK) Bennet (D-CO) Bingaman (D-NM) Bond (R-MO) Boxer (D-CA) Brown (D-OH) Brownback (R-KS) Burris (D-IL) Cantwell (D-WA) Cardin (D-MD) Carper (D-DE) Casey (D-PA) Collins (R-ME) Conrad (D-ND) Corker (R-TN) Dodd (D-CT) | Dorgan (D-ND) Durbin (D-IL) Feingold (D-WI) Feinstein (D-CA) Franken (D-MN) Gillibrand (D-NY) Hagan (D-NC) Harkin (D-IA) Inouye (D-HI) Johnson (D-SD) Kaufman (D-DE) Kerry (D-MA) Klobuchar (D-MN) Kohl (D-WI) Landrieu (D-LA) Lautenberg (D-NJ) Levin (D-MI) Lieberman (ID-CT) Lincoln (D-AR) Menendez (D-NJ) | Merkley (D-OR) Murray (D-WA) Nelson (D-FL) Pryor (D-AR) Reed (D-RI) Reid (D-NV) Rockefeller (D-WV) Sanders (I-VT) Schumer (D-NY) Shaheen (D-NH) Snowe (R-ME) Specter (D-PA) Stabenow (D-MI) Tester (D-MT) Udall (D-CO) Udall (D-NM) Voinovich (R-OH) Webb (D-VA) Whitehouse (D-RI) Wyden (D-OR) |
| NAYs ---37 | ||
| Barrasso (R-WY) Bennett (R-UT) Bunning (R-KY) Burr (R-NC) Chambliss (R-GA) Coburn (R-OK) Cochran (R-MS) Cornyn (R-TX) Crapo (R-ID) DeMint (R-SC) Ensign (R-NV) Enzi (R-WY) Graham (R-SC) | Grassley (R-IA) Gregg (R-NH) Hatch (R-UT) Hutchison (R-TX) Inhofe (R-OK) Isakson (R-GA) Johanns (R-NE) Kyl (R-AZ) Leahy (D-VT) Lugar (R-IN) Martinez (R-FL) McCain (R-AZ) McCaskill (D-MO) | McConnell (R-KY) Murkowski (R-AK) Nelson (D-NE) Risch (R-ID) Roberts (R-KS) Sessions (R-AL) Shelby (R-AL) Thune (R-SD) Vitter (R-LA) Warner (D-VA) Wicker (R-MS) |
| Not Voting - 3 | ||
| Byrd (D-WV) | Kennedy (D-MA) | Mikulski (D-MD) |
As you see we had some good Democrats (Leahy, McCaskill, Nelson, Warner) and we some some imposters for Republicans and one surprises me as I thought I could respect him but Senator Corker, I hope you get voted out!!
So the CANNOTS that voted for more taxpayer waste in the stimulus bill were: (Alexander, Bond, Brownback, Collins, Corker, Snow and Voinovich.
Both Tennessee Senators, Alexander and Corker, likely because of auto plants in their districts even though production will get crushed next year and these fools will all get laid off. I can see that with Voinovich as well being in OH which has been hard hit. Anything it takes to get re-elected. It's not about what is right, it's about keeping your corrupt job in Washington. I hope all of those CANNOTS get voted out when their term is up.
America is TIRED OF THE ACT!!
Housing recovery is intact, more to come I'm sure
In fact it's going so great that the government run Fannie Mae needs ANOTHER BAILOUT this time of $10.7 billion of taxpayer money because of a $15.2 billion 2nd quarter loss.
This is a sign that the housing market is back right? More bailouts!! The factthat the government can't turn the company around because they cannot stop foreclosures. Oh wait, Barney frank wants to amke them stop it. Oh so Fannie Mae will have to reduce the principle and the taxpayer can eat the principle to the idiot that bought the house thinknig home prices go up 10% every year and that it didn't matter if they could pay their mortgage cuz with 10% increase per year, they can refinance every year with a lower Loan to Value and even take money out of the house because it was the piggy bank. Because you know, money grows on trees.
No?? You mean in the spring when the leaves sprout and turn green that's not a sign of money growing on trees?? I could have sworn that is what our government thought and I learned from the greats like Barney Frank that money grows on trees. Darn!! No wonder I've been struggling to figure this out. Hmmm when will I get my bailout? I've been considering the idea of turning in my citizenship because I'd get treated better as an illegal alien. what do you all think?? Not a bad idea huh?
I just don't get it... I thought the stock market going up meant the recession was over. The leaves sprouting on the trees were green shoots that meant the recession is over. Oh are you saying in the fall when they turn brown and fall the recession will be back? No... you're kidding right? This is the Obama Administration and he's going to save us and save the nation with trillions in spending for healthcare reform once he is able to get rid of the wackos like me that speak at TEA parties and go to organizational meetings about our corrupt government. Just look at their plans, they're trying to find a way to attack people like me and belittle me for having a brain that's bigger than theirs. It's people like this guy below, yeah he's just going CRAZY I think someone should fear for the safety of others because he called a politician a liar!! No politicians don't lie, who are you kidding!!! They're all wonderful people trying to steal out money to fly on Gulfsteam jets build by General Dynamics from our tax dollars!!
Last three months housing starts are up the recession is over, Fannie Mae only loses $15.2 billion and the news of the day is that healthcare reform is like the Erie Canal!!
The well dressed people are because those people actually work for a living and have jobs. It was kind of funny coming from a racist who tried to pin black people against black people! How come nobody was calling the left angry mobs (though they'd set fires and such) over Bush. Are the RATS scared that the truth is becoming known. As this continues, the President;s approval will continue to go down the tubes because the cops act stupidly and we've all seen the pictures of the so calledracist cop helped Gates in his cane at the White House while Obama said the hell with the black man cuz he's the Messiah and can do as he pleases. You tell me whose the bad guy here
This is a sign that the housing market is back right? More bailouts!! The factthat the government can't turn the company around because they cannot stop foreclosures. Oh wait, Barney frank wants to amke them stop it. Oh so Fannie Mae will have to reduce the principle and the taxpayer can eat the principle to the idiot that bought the house thinknig home prices go up 10% every year and that it didn't matter if they could pay their mortgage cuz with 10% increase per year, they can refinance every year with a lower Loan to Value and even take money out of the house because it was the piggy bank. Because you know, money grows on trees.
No?? You mean in the spring when the leaves sprout and turn green that's not a sign of money growing on trees?? I could have sworn that is what our government thought and I learned from the greats like Barney Frank that money grows on trees. Darn!! No wonder I've been struggling to figure this out. Hmmm when will I get my bailout? I've been considering the idea of turning in my citizenship because I'd get treated better as an illegal alien. what do you all think?? Not a bad idea huh?
I just don't get it... I thought the stock market going up meant the recession was over. The leaves sprouting on the trees were green shoots that meant the recession is over. Oh are you saying in the fall when they turn brown and fall the recession will be back? No... you're kidding right? This is the Obama Administration and he's going to save us and save the nation with trillions in spending for healthcare reform once he is able to get rid of the wackos like me that speak at TEA parties and go to organizational meetings about our corrupt government. Just look at their plans, they're trying to find a way to attack people like me and belittle me for having a brain that's bigger than theirs. It's people like this guy below, yeah he's just going CRAZY I think someone should fear for the safety of others because he called a politician a liar!! No politicians don't lie, who are you kidding!!! They're all wonderful people trying to steal out money to fly on Gulfsteam jets build by General Dynamics from our tax dollars!!
Last three months housing starts are up the recession is over, Fannie Mae only loses $15.2 billion and the news of the day is that healthcare reform is like the Erie Canal!!
The well dressed people are because those people actually work for a living and have jobs. It was kind of funny coming from a racist who tried to pin black people against black people! How come nobody was calling the left angry mobs (though they'd set fires and such) over Bush. Are the RATS scared that the truth is becoming known. As this continues, the President;s approval will continue to go down the tubes because the cops act stupidly and we've all seen the pictures of the so calledracist cop helped Gates in his cane at the White House while Obama said the hell with the black man cuz he's the Messiah and can do as he pleases. You tell me whose the bad guy here
Wednesday, August 5, 2009
Baseball is back
With a 2 1/2 game lead on Boston heading into the big 4 game series this weekend, we got a preview from Walstreetpro2
Tuesday, August 4, 2009
Senator Schumer actually does something good!
Despite his 5th grade mentality and lack of attention to details in realizing that Mary would be female name and hence would be a Chairwoman rather than a Chairman as mentioned on July 27th, this afternoon, Mary Schapiro took the high road and did something good for a change, after her disgraceful years as head of FINRA and not noticing that Bernie Madoff had a fraudulent brokerage firm.
Last week, the 3rd ranking RAT in the Senate, Charles Schumer sent a letter to Ms. Schapiro (see I know how to spell her name) about FLASH trading which basically allows the scum we know as Goldman Sachs to see your orders a split second before they actually go onto the market and they can step in between. Anyone who has used market orders may have been harmed by this action.
As we see here it is widely believed that flash trading will soon become illegal. We have some perspective here from Joseph Saluzzi of Themis Trading!
It's a step in the right direction and this government needs to stop protecting Goldman freggin Sachs. If they can make shitloads of money on a fair playign scale fine. You have a faster computer, fine, but see my order before the market does and use your faster computer to get in between me, no that's bullshit! It's about time Charles Schumer pushed for something I'll agree with. I'm sure I still disagree with him on 95% of topics but I will give him credit here for pushing it. Most of the credit should go to the other bloggers that are so beyond hard core into these things like you Tyler over at Zero Hedge! Keep it up, it seems like slowly as this government resists the Marxist to a slight extent and listens to the people a slight extent, we're taking our country back. It doesn't mean though that healthcare, etc. will go the right way.
Last week, the 3rd ranking RAT in the Senate, Charles Schumer sent a letter to Ms. Schapiro (see I know how to spell her name) about FLASH trading which basically allows the scum we know as Goldman Sachs to see your orders a split second before they actually go onto the market and they can step in between. Anyone who has used market orders may have been harmed by this action.
As we see here it is widely believed that flash trading will soon become illegal. We have some perspective here from Joseph Saluzzi of Themis Trading!
It's a step in the right direction and this government needs to stop protecting Goldman freggin Sachs. If they can make shitloads of money on a fair playign scale fine. You have a faster computer, fine, but see my order before the market does and use your faster computer to get in between me, no that's bullshit! It's about time Charles Schumer pushed for something I'll agree with. I'm sure I still disagree with him on 95% of topics but I will give him credit here for pushing it. Most of the credit should go to the other bloggers that are so beyond hard core into these things like you Tyler over at Zero Hedge! Keep it up, it seems like slowly as this government resists the Marxist to a slight extent and listens to the people a slight extent, we're taking our country back. It doesn't mean though that healthcare, etc. will go the right way.
Thursday, July 30, 2009
May the green shoots please continue!
As typical of a Thursday morning at 8:30 am, new jobless claims numbers came out and this week they were 584,000 which was worse than last week and worse than analysts' expected.
The interesting part of this is that the media outlets (CBS, NBC, CNBC, MSNBC, ABC, CNN, and probably FoxNews too) continue to try and spin this along with the banks that got government aid.) One can talk about seasonally adjusted numbers and non-seasonally adjusted numbers but the point is that they're adjusted to reflect typical things that go on in certain areas of the nation. So I want to focus in on how the media was saying this is good news.
The number at 584,000 was worse than the 570,000 consensus estimate and worse than the 559,000 shown for last week. We can say oh Dave it's only one week and there is improvement going on. Well the big ticket item to the media was that the 4 week running average dropped to 559,000 as well, and the 4 week average smoothes out week to week fluctuations, BUT with 584,000 being higher than the 4 week average, I want to know how are we getting a green shoot from that? Lat week's jobless claims number was 559,000 and the week before that was in the 520,000 range. So for two straight weeks, the jobless claims numbers have increased. Meanwhile unemployment is high. The higher it gets, the less jobs there are to lose because less people have jobs. These current numbers don't give sign for economic growth, but do give sign for less of an economic contraction. How much of it is because of government spending??
Well about a week into the Cash for Clunkers program (I can't believe they called it clunkers. You trade in a perfectly good car for something with better gas mileage.) My Target Car, rest that baby is peace (ok I didn't want to get personal but I must here), would not qualify because it got more than 18 MPG. But is this a clunker to you?
If that's not a clunker I don't know what is. I was driving THAT car until April 2009 folks! That car would be ineligible not because it didn't drive but because it got better than 18 MPG. Well now the fund they're claiming is exhausted in a week. They're doing everything they can for you to buy your neighbor's car thru the tax code. don't worry you'll be paying for it later on when all these bonds from the record auctions come due, don't worry, it will happen, either thru taxes or deflating the dollar and the cost of our food and energy skyrocket like it's 2008 all over again, while they say there's no inflation because it's not CORE inflation.
This makes me think back to other incentive plans. Oh yeah that's right, it means everyone has a new car and they won't need to buy one and hence it hurts future demand. you watch what happens when this short term blip ends and then NOBODY wants a car. Good luck Government Motors, Chrysler and Ford, etc. I hope Ford never needs taxpayer assistance because this program hurt them and we know it's going to hurt them. Is the government soon going to make everyone buy a new car every 4 years or ban any car that's more than 5 years old from being driven to promote continuous car sales in the new fascist dictatorship we know as the Obamanation?? Oops did I just give those cronies an idea! Hey I'm not writing the laws they are. Don't look at me!!
So we continue to get these lies and spin and though I admit doomsday and the Great Depression II is off the table for now. this government might be setting us up for a day when it is so destructive there will be riots and looting and it will look like a 3rd world nation here as globalization continues. It's only hurting America unfortunately that our government puts in these policies that harm traditional Americans (not the protected rich elite like Goldman Sachs) and help illegal immigrants and foreign workers!
Just ask yourself is the 4 week jobless claims average is below the recent week's jobless claims in the midst of the worst recession in 70 years a good sign?? somehow it must be to CNBC. When Q3 has positive GDP cuz of the government spending and everyone says see we we're right there recession is over, I'll bring you all back to Q2 of 2008 when the economy grew at roughly 3% and George W. Bush said see the economy is just fine. Yeah that was so right on too. As I've felt, this recovery will be lackluster, might dip right back into recession might not, but the robust growth days aren't coming back for awhile and this might in fact just be like Japan. Very lackluster growth for what now 15-20 years, when Japan is growing. That's kind of what I see here with some government manipulated data that will show some quarters to do great because of inventory buildup, etc. I feel Q3 will be a positive quarter for all you folks out there.
The interesting part of this is that the media outlets (CBS, NBC, CNBC, MSNBC, ABC, CNN, and probably FoxNews too) continue to try and spin this along with the banks that got government aid.) One can talk about seasonally adjusted numbers and non-seasonally adjusted numbers but the point is that they're adjusted to reflect typical things that go on in certain areas of the nation. So I want to focus in on how the media was saying this is good news.
The number at 584,000 was worse than the 570,000 consensus estimate and worse than the 559,000 shown for last week. We can say oh Dave it's only one week and there is improvement going on. Well the big ticket item to the media was that the 4 week running average dropped to 559,000 as well, and the 4 week average smoothes out week to week fluctuations, BUT with 584,000 being higher than the 4 week average, I want to know how are we getting a green shoot from that? Lat week's jobless claims number was 559,000 and the week before that was in the 520,000 range. So for two straight weeks, the jobless claims numbers have increased. Meanwhile unemployment is high. The higher it gets, the less jobs there are to lose because less people have jobs. These current numbers don't give sign for economic growth, but do give sign for less of an economic contraction. How much of it is because of government spending??
Well about a week into the Cash for Clunkers program (I can't believe they called it clunkers. You trade in a perfectly good car for something with better gas mileage.) My Target Car, rest that baby is peace (ok I didn't want to get personal but I must here), would not qualify because it got more than 18 MPG. But is this a clunker to you?
If that's not a clunker I don't know what is. I was driving THAT car until April 2009 folks! That car would be ineligible not because it didn't drive but because it got better than 18 MPG. Well now the fund they're claiming is exhausted in a week. They're doing everything they can for you to buy your neighbor's car thru the tax code. don't worry you'll be paying for it later on when all these bonds from the record auctions come due, don't worry, it will happen, either thru taxes or deflating the dollar and the cost of our food and energy skyrocket like it's 2008 all over again, while they say there's no inflation because it's not CORE inflation.
This makes me think back to other incentive plans. Oh yeah that's right, it means everyone has a new car and they won't need to buy one and hence it hurts future demand. you watch what happens when this short term blip ends and then NOBODY wants a car. Good luck Government Motors, Chrysler and Ford, etc. I hope Ford never needs taxpayer assistance because this program hurt them and we know it's going to hurt them. Is the government soon going to make everyone buy a new car every 4 years or ban any car that's more than 5 years old from being driven to promote continuous car sales in the new fascist dictatorship we know as the Obamanation?? Oops did I just give those cronies an idea! Hey I'm not writing the laws they are. Don't look at me!!
So we continue to get these lies and spin and though I admit doomsday and the Great Depression II is off the table for now. this government might be setting us up for a day when it is so destructive there will be riots and looting and it will look like a 3rd world nation here as globalization continues. It's only hurting America unfortunately that our government puts in these policies that harm traditional Americans (not the protected rich elite like Goldman Sachs) and help illegal immigrants and foreign workers!
Just ask yourself is the 4 week jobless claims average is below the recent week's jobless claims in the midst of the worst recession in 70 years a good sign?? somehow it must be to CNBC. When Q3 has positive GDP cuz of the government spending and everyone says see we we're right there recession is over, I'll bring you all back to Q2 of 2008 when the economy grew at roughly 3% and George W. Bush said see the economy is just fine. Yeah that was so right on too. As I've felt, this recovery will be lackluster, might dip right back into recession might not, but the robust growth days aren't coming back for awhile and this might in fact just be like Japan. Very lackluster growth for what now 15-20 years, when Japan is growing. That's kind of what I see here with some government manipulated data that will show some quarters to do great because of inventory buildup, etc. I feel Q3 will be a positive quarter for all you folks out there.
The man with the male escort service bashing banks again
Yes we know that is Barney Frank, cuz running a prostitution ring out of your apartment is ok, just deny deny deny like your name is Ben Bernanke or justify it like your name is Hanky Panky and you'll be just fine.
Now Barney Frank, like Obama, wants to say screw contract law. You see this, just like he was tellign the banks, if you won't lend to the future deadbeats, we'll find someone who will, now he says to the banks, if you don't stop foreclosing the deadbeats, we'll make you.
Barney Frank likes legislating from the bench. He wants to authorize the judicial system to take over his power of law writing or determining what is ok and what isn't. Barney Frank needs to go to jail! He'll fit in just fine there being the way he is, I'm very sure he might actually enjoy it in a high security prison. I think Barney Frank should go to an all female high security prison to be tortured!! This man is corrupt, he;s a liar and he has no respect for contract law, just like Obama when he took the Constitution and shredded it by telling secured lends to screw off ad that unsecured creditors are better deserving since it's a union than bankrupted Chrysler, LLC. Oh screw the banks right? Well what if it's me. What if you don't pay me for something you buy and I give you the loan? Should Barney Frank say... oh that guy voted Libertarian, he's for LIBERTY and I'm for.... male escorts services and I'm for the deadbeats getting what they do not deserve. As we know from Savage, Liberalism is a Mental Disorder! Barney Frank has a mental disorder as well. Too bad he's got that damn pension from our tax dollars. It's truly a shame when Congress gets deals the rest of America can't. I think that's fascist in it's own righ to say if you don't stop foreclosures, I'll make legislation that forces you too. Cuz yeah contracts don't matter anymore. I think I should stop paying my student loan... or maybe when I take the mortgage out of my grandmother's estate, maybe I won't pay for it. But no Barney Frank won't come to my aid. I'm a Libertarian (until the Republican Party decides they're not going to be corrupt and be conservatives once again. Yes you too, Chris Christie in NJ. Dream on about getting my vote!)
Now Barney Frank, like Obama, wants to say screw contract law. You see this, just like he was tellign the banks, if you won't lend to the future deadbeats, we'll find someone who will, now he says to the banks, if you don't stop foreclosing the deadbeats, we'll make you.
Barney Frank likes legislating from the bench. He wants to authorize the judicial system to take over his power of law writing or determining what is ok and what isn't. Barney Frank needs to go to jail! He'll fit in just fine there being the way he is, I'm very sure he might actually enjoy it in a high security prison. I think Barney Frank should go to an all female high security prison to be tortured!! This man is corrupt, he;s a liar and he has no respect for contract law, just like Obama when he took the Constitution and shredded it by telling secured lends to screw off ad that unsecured creditors are better deserving since it's a union than bankrupted Chrysler, LLC. Oh screw the banks right? Well what if it's me. What if you don't pay me for something you buy and I give you the loan? Should Barney Frank say... oh that guy voted Libertarian, he's for LIBERTY and I'm for.... male escorts services and I'm for the deadbeats getting what they do not deserve. As we know from Savage, Liberalism is a Mental Disorder! Barney Frank has a mental disorder as well. Too bad he's got that damn pension from our tax dollars. It's truly a shame when Congress gets deals the rest of America can't. I think that's fascist in it's own righ to say if you don't stop foreclosures, I'll make legislation that forces you too. Cuz yeah contracts don't matter anymore. I think I should stop paying my student loan... or maybe when I take the mortgage out of my grandmother's estate, maybe I won't pay for it. But no Barney Frank won't come to my aid. I'm a Libertarian (until the Republican Party decides they're not going to be corrupt and be conservatives once again. Yes you too, Chris Christie in NJ. Dream on about getting my vote!)
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