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  1. #8461
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    Re: Economic News/Discussion

    Forgot this one. Inflation Update

    http://blog.independent.org/2012/04/...tion-update-2/

  2. #8462
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    Re: Economic News/Discussion

    Be sure and read comments..some smart guys there LOL

    http://www.nationalreview.com/corner...=y#comment-bar

  3. #8463
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    Re: Economic News/Discussion

    Last edited by jimzinsocal; 05-04-2012 at 09:47 AM.

  4. #8464
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    May 2002
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    Twain Harte, CA
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    17,046

    Re: Economic News/Discussion

    This will be an interesting one to watch... Ace suggests the numbers might get fudged...
    Gallup: Up to 8.6%.

    ADP: Hiring slowed significantly in April (and wasn't very good in March).

    The four-week moving average of initial jobless claims rises to its highest level since December.

    And the Obama-controlled Bureau of Labor Statistics releases its April employment figures tomorrow.

    Anyone suspect another large number of Americans may be non-personed off the labor rolls entirely, so that Obama can claim that the unemployment rate remained steady or even fell?
    Tune in tomorrow...

  5. #8465
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    Posts
    24,178

    Re: Economic News/Discussion

    Quote Originally Posted by Dutchcedar View Post
    This will be an interesting one to watch... Ace suggests the numbers might get fudged... Tune in tomorrow...
    I stopped tuning in to the BLS until +2 weeks later. It's always fun to see the universally upward adjusted numbers the MSM will dutifully ignore.
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  6. #8466
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    Re: Economic News/Discussion

    Quote Originally Posted by AMDScooter View Post
    I stopped tuning in to the BLS until +2 weeks later. It's always fun to see the universally upward adjusted numbers the MSM will dutifully ignore.
    You're gonna look.

  7. #8467
    Joined
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    California
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    24,178

    Re: Economic News/Discussion

    Quote Originally Posted by Dutchcedar View Post
    You're gonna look.
    Godammit...... I know.
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  8. #8468
    Joined
    Aug 2001
    Posts
    74,684

    Re: Economic News/Discussion

    Zerohedge is doing a series on the ecomomy etc originally done by Heritage.
    Worth the save and read

    http://www.zerohedge.com/news/unabri...4-entitlements

  9. #8469
    Joined
    Aug 2001
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    74,684

    Re: Economic News/Discussion

    Monthly rate of unemployment now at 8.1%. Job creation 115K for month

    http://www.zerohedge.com/news/us-add...oyment-rate-81

  10. #8470
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    Re: Economic News/Discussion

    ^^^ Kinda figures... less people work = lower unemployment rate.
    Though the headline number indicated job creation, the total employment level for the month actually fell 169,000. The disparity likely emanates from a drop in the labor force participation rate — or the level of Americans actively looking for jobs or otherwise employed — from 63.8 percent to 63.6 percent, its lowest level since December 1981.

    The amount of discouraged workers swelled from 865,000 to 968,000, an increase of 12 percent. Those working part-time for economic reasons surged 181,000 to more than 7.8 million.
    115,000 jobs were created, but 169,000 fewer people have jobs.

    Break out the Kool-Aid.

    More about the funny way of keeping track... and let's not kid ourselves, one side will make a big deal of unemployment rate dropping... with a straight face... kinda like the guy behind the curtain talking to Dorothy and the gang...
    In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to 88,419,000.
    Last edited by Dutchcedar; 05-04-2012 at 11:25 AM.

  11. #8471
    Joined
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    California
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    24,178

    Re: Economic News/Discussion

    ^^^^ H/T S&L The unemployment rate would be 11% if US labor force the same size as when Obama took office. And if labor force participation had remained the same as it was in March, the unemployment rate would have risen to 8.4%. And let's not forget that the new jobless claims number has been quietly revised up for 15 weeks in a row, and 60 out of the last 61 weeks. Anyone wanna bet on what will happen to the new number in 2 weeks?

    Se we blew a cool trillion so the number of jobs created each month would not even keep up with population growth. Wewt. Anyone else remember back in 2010 when Plugs was claiming we were gonna see 500k a month?

    Politics Digest: Biden forecasts growth of up to 500,000 new jobs a month

    And I wish the lamestream media would have a modicum of honesty and report that the recession officially ended in June of 2009. We've had 3 years since then and there really has been no "recovery" at all if we compare the last 3 years to what has happened post every recovery since the depression. This chart should be on every news broadcast along with the jobs numbers:

    The gaping maw that ate the U.S. economy



    From the NY Fed:

    The first figure shows how these three labor market variables evolved over the four post-1973 business cycles (excluding the short 1980 cycle), along with developments in the Great Recession and current recovery. We start at the lowest level of the unemployment rate before the recession and then follow the changes for three years after the rate reaches its maximum level. For the current expansion, the maximum unemployment rate occurred in October 2009.

    The employment-to-population ratio displays a classic V-shape recession and recovery pattern in the 1970s and 1980s. In the recession and recovery of the early 1990s, however, the employment-to-population ratio instead displays a U shape, only returning to its pre-recession level three years after the peak in the unemployment rate. In the recession and recovery of the early 2000s, neither the participation rate nor the employment-to-population ratio returns to its previous level, so we see an incomplete U-shape pattern.

    In the most recent cycle, the employment-to-population ratio traces out an L shape, but the unemployment rate falls because the participation rate declines substantially (a much more gradual decline was expected by many given the aging of the baby boomers); in other words, a larger share of the population is out of the labor force rather than participating and being unemployed.
    Good thing the Obama White House pivoted to healthcare reform after passing the stimulus. It’s work was done.
    But I digress. The SCOAMF will pimp the 8.1% and the MSM will fawn over the great job he's doing... blaming everyone else for his failures.

    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  12. #8472
    Joined
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    Location
    California
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    24,178

    Re: Economic News/Discussion

    HA notes that Reuters is dutifully carrying the messiah's water:

    Update III: Yes, but what does Reuters say? The rose-colored-glasses wire service calls this a “mixed” report:

    Employers decreased hiring for the second straight month in April but the unemployment rate still fell to 8.1 percent, giving mixed messages about the economy’s strength ahead of President Barack Obama’s November re-election bid.

    Employers added 115,000 workers to their payrolls last month, the Labor Department said on Friday.

    The reading keeps fears alive that the U.S. economy is losing momentum and dampens hopes that a stretch of strong winter hiring signaled a turning point for the recovery.

    The unemployment rate ticked a tenth of a point lower to a three-year low, as people left the work force. The jobless rate is derived from a separate survey of households, which showed a drop in the number of jobs in April.
    So what was the “mixed” part? The BLS adjusted the jobs gains numbers in February and March upward, but you have to love how Reuters frames it:

    Still, the government revised upward its initial estimates for payroll growth in February and March by a combined 53,000. That left the six-month average of job growth at 197,000, nearly exactly where it would have been had April job growth come in as expected at 170,000.
    But, er … it didn’t. So what does that tell us about the economy and jobs growth? It ain’t a mixed message.
    "Mixed message"...
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  13. #8473
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    17,046

    Re: Economic News/Discussion

    ^^^ The mixed message is that on one side we have the truth, that job growth is negative... on the other side we have the lies, with phony numbers indicating a growth in jobs.

  14. #8474
    Joined
    Mar 2002
    Location
    California
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    24,178

    Re: Economic News/Discussion

    I hate to chartfu the thread to death (ok... not really) but FFS we're in a world of hurt MSM... start reporting it!!!! We're all the way back to 1980's levels! Think there are a "few" more folks here than then..

    People Not In Labor Force Soar By 522,000, Labor Force Participation Rate Lowest Since 1981

    it is just getting sad now. In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to
    88,419,000. This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.

    Labor force participation Rate:



    People not in labor force:

    Obama.. the post-jobs president.
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  15. #8475
    Joined
    Sep 2001
    Location
    Colorafornia
    Age
    41
    Posts
    12,731

    Re: Economic News/Discussion

    Quote Originally Posted by AMDScooter View Post
    ^^^^ H/T S&L The unemployment rate would be 11% if US labor force the same size as when Obama took office. And if labor force participation had remained the same as it was in March, the unemployment rate would have risen to 8.4%. And let's not forget that the new jobless claims number has been quietly revised up for 15 weeks in a row, and 60 out of the last 61 weeks. Anyone wanna bet on what will happen to the new number in 2 weeks?

    Se we blew a cool trillion so the number of jobs created each month would not even keep up with population growth. Wewt. Anyone else remember back in 2010 when Plugs was claiming we were gonna see 500k a month?

    Politics Digest: Biden forecasts growth of up to 500,000 new jobs a month

    And I wish the lamestream media would have a modicum of honesty and report that the recession officially ended in June of 2009. We've had 3 years since then and there really has been no "recovery" at all if we compare the last 3 years to what has happened post every recovery since the depression. This chart should be on every news broadcast along with the jobs numbers:

    The gaping maw that ate the U.S. economy



    But I digress. The SCOAMF will pimp the 8.1% and the MSM will fawn over the great job he's doing... blaming everyone else for his failures.

    It's like I've been saying all along. If you want the real numbers for unemployment, look at the number of people on food stamps. It's the highest by far that it's ever been, it's jumped by almost 20 million people in just 5 years, and it continues to go up. I have to ask, with the cost of food going nowhere but up, more people out of work than have been in decades, and more people on food stamps than at any time in history, where will the money come from to fund that program? Lol, I forgot, BO will tax the rich and make it all better!

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