Truthmatters
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- May 10, 2007
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Instant view: Jobless claims, producer prices, trade
NEW YORK | Thu Oct 14, 2010 11:08am EDT
NEW YORK (Reuters) - The number of people filing new claims for unemployment insurance rose to a higher-than-expected 462,000 in the latest week, while rising food and energy prices pushed inflation at the wholesale level up twice as fast as expected last month.
...
I'm sure the economy is looking great to the few that are making money off of stocks, gold, short sales and foreclosures. Not so good for the unemployed, those working part time, or under employed. They just watch as more join their ranks and food and energy prices rise:
Instant view: Jobless claims, producer prices, trade | Reuters
It is amazing how everything bad with this administration is 'unexpected':
Instant view: Jobless claims, producer prices, trade
NEW YORK | Thu Oct 14, 2010 11:08am EDT
NEW YORK (Reuters) - The number of people filing new claims for unemployment insurance rose to a higher-than-expected 462,000 in the latest week, while rising food and energy prices pushed inflation at the wholesale level up twice as fast as expected last month.
...
you are absolutely clueless if you thought the recession was spooked into place.I'm with Baruch... Democrats grasping at straws.
Hell yes, I want the economy to pick up, but the Democrats talked us into this problem when they began attacking Bush. They started claiming we were in a recession before we were actually in one and they actually talked us into one. They scared the hell out of the American people and actually fear mongered us into a recession. Then they blamed it on Bush. Then in February, 2009 after Obama took office, they started telling us it was not as bad as they thought it was.
It was easy as pie to scare us into a recession. They are finding out it is not as easy to lie their way out.
Immie
[/QUOTE]while rising food and energy prices pushed inflation at the wholesale level up twice as fast as expected last month.
...
you are absolutely clueless if you thought the recession was spooked into place.I'm with Baruch... Democrats grasping at straws.
Hell yes, I want the economy to pick up, but the Democrats talked us into this problem when they began attacking Bush. They started claiming we were in a recession before we were actually in one and they actually talked us into one. They scared the hell out of the American people and actually fear mongered us into a recession. Then they blamed it on Bush. Then in February, 2009 after Obama took office, they started telling us it was not as bad as they thought it was.
It was easy as pie to scare us into a recession. They are finding out it is not as easy to lie their way out.
Immie
while rising food and energy prices pushed inflation at the wholesale level up twice as fast as expected last month.
...
while rising food and energy prices pushed inflation at the wholesale level up twice as fast as expected last month.
...
That's hilarious since BenBe is saying the fed is ready to install a new round of quantitative easing just to deliver 2% inflation. He is lying about his motives of course. And 2% inflation is far too little even if that was his goal.
Americans spent more money on cars, furniture and at hardware stores to boost retail sales to a third monthly increase in September. The string of gains since July followed declines in May and June. Those had raised worries that the country could be in danger of toppling back into recession. Economists caution that while the economy is growing, the expansion is not strong enough to lower face high unemployment and offset weak income growth.
So you dont want the economy to recover?
you are absolutely clueless if you thought the recession was spooked into place.I'm with Baruch... Democrats grasping at straws.
Hell yes, I want the economy to pick up, but the Democrats talked us into this problem when they began attacking Bush. They started claiming we were in a recession before we were actually in one and they actually talked us into one. They scared the hell out of the American people and actually fear mongered us into a recession. Then they blamed it on Bush. Then in February, 2009 after Obama took office, they started telling us it was not as bad as they thought it was.
It was easy as pie to scare us into a recession. They are finding out it is not as easy to lie their way out.
Immie
Actually it may have been spooked into place. But if so it was Paulson, Bernanke and the rest of the plunge protection team that began doing what is absolutely blasphemy for a fed chair or a major econ agency chair, shrieking like scared cats in a room full of rocking chairs and demanding gazzillions of dollars by next week or the world will explode.
Any ranking economic administrator knows that since the economy is based on confidence, and a quasi ponzi arrangement at it's core, that leadership must first and foremost instill confidence. Not cause panic, which is exactly what they did.
To date we have no proof of any kind that disaster would have struck if bailouts did not materialize. We know some banks would have been crushed, but we have no reason to believe that the economy would have followed.
But none of this was the dems doing. It was the Bush econ team that went code red.
That's hilarious since BenBe is saying the fed is ready to install a new round of quantitative easing just to deliver 2% inflation. He is lying about his motives of course. And 2% inflation is far too little even if that was his goal.
If memory serves, food nor energy prices are figured into the general inflation figures, no?
Yeah they are, there is a secondary index which excludes food and energy called "core inflation". I didn't pay a lotta attention to the details but skimming the headlines this morning I saw data about .1% inflation in a new government report. No idea if that was the CPI or core inflation.
Thanks for the term 'core', never can remember that.
Core prices lowest in decades as CPI edges up Economic Report - MarketWatch
Economic Report
Oct. 15, 2010, 11:40 a.m. EDT
Core prices lowest in decades as CPI edges up
Consumer price index up 0.1% in September
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) The index for U.S. consumer prices rose 0.1% in September, supported by gains in food and gasoline, as the annualized rate of core inflation was the lowest in nearly five decades, according to a Labor Department report released Friday.
The food index rose 0.3% in September, its largest gain since October 2008. Meanwhile, the energy index rose 0.7%, with gasoline up 1.6%.
But core prices, which exclude volatile food and energy, did not change in September, with a growth rate of 0.0%.
Over the last 12 months, overall consumer prices are up 1.1%, before seasonal adjustment. Core prices rose 0.8% for the year, the lowest 12-month gain since 1961...
The only real stats imho are; GDP per quarter and the jobs created per month rate...the rest is all smoke that goes back and forth on the breeze.
you are absolutely clueless if you thought the recession was spooked into place.
Actually it may have been spooked into place. But if so it was Paulson, Bernanke and the rest of the plunge protection team that began doing what is absolutely blasphemy for a fed chair or a major econ agency chair, shrieking like scared cats in a room full of rocking chairs and demanding gazzillions of dollars by next week or the world will explode.
Any ranking economic administrator knows that since the economy is based on confidence, and a quasi ponzi arrangement at it's core, that leadership must first and foremost instill confidence. Not cause panic, which is exactly what they did.
To date we have no proof of any kind that disaster would have struck if bailouts did not materialize. We know some banks would have been crushed, but we have no reason to believe that the economy would have followed.
But none of this was the dems doing. It was the Bush econ team that went code red.
i think the fed's helped the banx, but the fiscal bailout was a gargantuan waste. i'd have done better, anyhow.
if i had to call a spooking moment, it was the run on northern rock in '07. doused the mortgage futures markets like when that kid in the crowd said the emperor had no clothes on. there was no turning back, rosetinting or sugarcoating from there on out.
i look at shit like that as being inevitable, though. overinvestment from an overdue, easy money bubble with a finserve epicenter, to make matters worse.