Economic News/Discussion

[jimzinsocal]

^^I agree.

[Dutchcedar]

An ownership survey conducted by GfK Media found that about 6.9 million homes abandoned pay TV last year, a shocking number that industry sources chalk up to the sagging economy

....Younger Americans, minorities and low-income homes, socked by unemployment and the economy have jumped the cable ship in the highest numbers.

That's surprising. There's something like 120 million households isn't there. That's a lot of people cuttin' the cord.

link

[kbohip]

^^^And I'm one of them! I ditched Directv a year ago April. Guess what? I'm still not missing it NEARLY enough to start shelling out $95.00 a month again to them either. Any shows I like to watch I buy from Amazon. I still get everything from CBS, NBC, Fox, and ABC in HD off of an antenna in my house. My only monthly fee now is the $12.95 a month I pay for an HD Tivo. I pay for only the stuff I want, not the dozen foreign language channels or stupid home shopping networks or million sports channels that I never watch. The first satellite content provider to go a la carte will be the one that gets me to sign up with them again....I guess.

[jimzinsocal]

Weakly unemployment report

http://www.dol.gov/opa/media/press/eta/ui/current.htm

[jimzinsocal]

Will some firms hire more if Obamacare is struck down?

http://news.investors.com/article/61...or-economy.htm

[Dutchcedar]

Stockton, CA... filing for bankruptcy.

[BlackDragon24]

Stockton, CA... filing for bankruptcy.

^^^I'm surprised it didn't happen sooner. When I was living in Pleasanton I got the pleasure of driving on the 580 into the city and that happened to be the same freeway that all of the Stockton to San Jose/Stockton to San Francisco commuters used. Couldn't believe how many people were willing to move 70-80 miles from their workplace just to be able to afford a home in a shitty cow-town, but there were plenty of suckers. Now most of those suckers are now sitting a couple hundred thousand under water, don't even have the job to commute to any more, and still live in Stockton. I can't think of anything much more depressing.

[AMDScooter]

^^^I'm surprised it didn't happen sooner. When I was living in Pleasanton I got the pleasure of driving on the 580 into the city and that happened to be the same freeway that all of the Stockton to San Jose/Stockton to San Francisco commuters used. Couldn't believe how many people were willing to move 70-80 miles from their workplace just to be able to afford a home in a shitty cow-town, but there were plenty of suckers. Now most of those suckers are now sitting a couple hundred thousand under water, don't even have the job to commute to any more, and still live in Stockton. I can't think of anything much more depressing.

Back in the height of the .bomb I knew a tonne of people who commuted from Stockton, Moodesto, Los Banos and destinations even further away for "cheap" housing. Land and housing in a desert is cheap.. I still don't wanna live in one.

The whole state is a disaster. Like most states in the worst financial condition it's run by libberals who think they can spend their way to prosperity. Gubbenor Moonbeam still wants to spend billions on high speed rail despite sitting on a $16 Billion (and growing) budget deficit. The pooblic unions and the twits they help elect run this place. I say let them. The faster they run this joint into the dirt the faster people will hopefully wake up to how badly the liberals they keep voting for are mismanaging the place into fiscal oblivion.

Sucks it takes bankrupcy to wake up the kool aid swillers in this state. But there it is. The pooblic sector unions here had it great but simply went too far. There will be no GM style bailout for them now.. all their benifits will be chapter sumthin' away entirely now. Reap what ye sow sh*theads.. but keep voting democrat. Food stamps are cool!

[jimzinsocal]

Weekly new claims for Unemployment just out at 8:30

http://www.dol.gov/opa/media/press/eta/ui/current.htm

For the day: Strike one

In the week ending June 23, the advance figure for seasonally adjusted initial claims was 386,000, a decrease of 6,000 from the previous week's revised figure of 392,000. The 4-week moving average was 386,750, a decrease of 750 from the previous week's revised average of 387,500.

[jimzinsocal]

This is pretty amazing to consider. Kevin and a few others will find this interesting, particularly the change since Obama took office.

People collecting Disability. And Im not slamming folks that heve gone here.

When Obama took office: 7,442,377
As if May 2012 8,707,185

Give the article a read. What is also striking beyond the pure number increase is the rate.

http://cnsnews.com/news/article/8733...-new-york-city

[jimzinsocal]

Today's entry for "Something Media Wont Say Anything About"
The difference between Obama and FDR

Weve heard for years now that Obama is attempting to imitate FDR on Jobs. The attempt is obvious for some of us that media would like us to associate what Obama proposes finds ideological refuge somehow under the wing of FDR.
Paul Krugman would like us to believe Obama and FDR are the same.

Not so fast Mr Nobel Prizewinning Economist..not so fast.
What FDR did with his various Works plans was far different than the bottom to top changes Obama pushes as a solution.
What FDR did was supply temporary jobs for unemployed folks to get them off various welfare programs.
Ive never once associated the word "temporary" with any Obama job proposal. Leave alone the concept of self liquidating jobs.

Give this a read and judge the tenor of the article. Think about what FDR says and think about what Obama suggests.
Im as conservative as they come but I was struck with how different the two guys are..Obama and FDR.

Old article by the New York Times from a time when they reported news, not political opinion. Look for words like self liquidating

http://graphics8.nytimes.com/package...A/35_01_05.pdf

[Keven]

This is pretty amazing to consider. Kevin and a few others will find this interesting, particularly the change since Obama took office.

People collecting Disability. And Im not slamming folks that heve gone here.

When Obama took office: 7,442,377
As if May 2012 8,707,185

Give the article a read. What is also striking beyond the pure number increase is the rate.

http://cnsnews.com/news/article/8733...-new-york-city

Record numbers of people on SSDI, record numbers of people on unemployment, used car sales through the roof, apartments more popular than ever, pawn stores seeing record profit.

Welcome to Barack Obama's America.

[SteveW]

This is pretty amazing to consider. Kevin and a few others will find this interesting, particularly the change since Obama took office.

People collecting Disability. And Im not slamming folks that heve gone here.

When Obama took office: 7,442,377
As if May 2012 8,707,185

Give the article a read. What is also striking beyond the pure number increase is the rate.

http://cnsnews.com/news/article/8733...-new-york-city

Probably just more of those pesky "Baby Boomers" and "Old" folks in general.....

[jimzinsocal]

Probably just more of those pesky "Baby Boomers" and "Old" folks in general.....

It would be interesting to get a read of the breakdown by occupation, location, age etc. And again I dont doubt the legitimacy of the claims its simply interesting to know there is some relationship..obviously...with economic downturn and health/injury issues. Id also be curious if government has changed criteria.

[myv65]

Ive never once associated the word "temporary" with any Obama job proposal. Leave alone the concept of self liquidating jobs.

Maybe not as proposed, but you gotta admit that lots of Obama's jobs have been temporary. Seems darn near all his "green" jobs funded via *cough* "loans" *cough* have been temporary. . .

I'd LOL, but it hurts too much to laugh.