More economic good news: Existing home sales up for fourth straight month

Discussion in 'Politics' started by rightwinger, Aug 21, 2009.

  1. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Bernanke, housing drive summer rally
    The Fed chief says a recovery is coming. Existing-home sales rise for 4th straight month. Oil prices hit the highest level of 2009.
    Posted by Elizabeth Strott on Friday, August 21, 2009 9:22 AM

    Updated at 1:05 p.m. ET



    The economy is starting to recover, according to Federal Reserve Chairman Ben Bernanke.



    The global economy is "beginning to emerge" from a recession, thanks to the steps taken by the Fed, other central banks and governments, Bernanke said today in a speech at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming.



    Bernanke's optimistic comments, along with higher oil prices and an unexpected jump in existing home sales, helped spark a nice summer rally this afternoon.



    At 1:05 p.m. ET, the Dow Jones Industrial Average ($INDU) was up 138 points, or 1.5%, to 9,488. The Nasdaq Composite Index ($COMPX) had added 25 points, or 1.3%, to 2,015, and the Standard & Poor's 500 Index ($INX) had gained 16 points, or 1.6%, to 1,024.
     
  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Higher oil prices are helpful?

    LOL
     
  3. Dr.House
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    Dr.House Lives on in syndication!

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    I'm sure this means a lot to all those new people who just lost their jobs recently...
     
  4. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Huge jump in the stock market today!

    Market up 10.2% for the year

    Index of leading economic indicators up three months in a row

    Economists predicting the recession will end sometime this fall.

    Economy is showing signs of recovery!

    :clap2::clap2::clap2::clap2:
     
  5. Meister
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    Meister Platinum Member Supporting Member

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    Unexpected higher unemployment. It all depends on what indicators you want to follow.
     
  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Lemme see, higher unemployment, dollar crushed, higher oil prices, USA losing AAA credit rating.

    Yeah, that's a classic recovery
     
  7. Dr.House
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    Dr.House Lives on in syndication!

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    Awesome.... Now those newly out-of-work people can gamble in the stock market...

    w00t...
     
  8. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Employment is the last thing to recover in an economic rebound.
    Rising market means more disposable income
    Increase in home sales means buyers have more confidence in their employment and overall confidence

    Gee.....I'd get the impression some people are rooting for the economy to fail??

    Why would that be??
     
  9. Meister
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    Meister Platinum Member Supporting Member

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    Not the $8,000 dollar give away?
    I'm hoping the economy does rebound, but it's way too soon to be accurate. A lot of economists are predicting a double dip, which does happen. Also, I'm concerned about the debt if the government keep spending the stimulus bill money.
    If we come out of the recession will the stimulus bill still be spent? I have an idea that Pelosi will make sure of it.
     
  10. Dr.House
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    Dr.House Lives on in syndication!

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    Because you're stupid...

    You're trying to put perfume on a turd and tell us it's a thing of beauty...

    Cherry picking stats while ignoring those that disagree with your "assessment" is just plain partisan hackery...
     
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