U.S. Economy: Retail Sales Climbed in August

[rdean]

Some 723,000 workers have been added to payrolls so far in 2010, or 8.6 percent of the 8.4 million jobs lost during the worst employment slump in the post-World War II era. The jobless rate is forecast to stay above 9 percent through 2011, according to a Bloomberg survey taken Sept. 1 to Sept. 9.

“Even though the economy is growing again,” President Barack Obama said at the White House on Sept. 10, “the hole the recession left was huge and progress has been painfully slow.”

Obama has proposed extending middle-income tax cuts while letting the top rates rise, and wants to spend at least $50 billion as part of a six-year program to improve transportation infrastructure and create jobs.

 

[Tom Clancy]

and wants to spend at least $50 billion

There's your problem.

 

[topspin]

yeah but Obama is a MUSLIM

 

[Tom Clancy]

yeah but Obama is a MUSLIM

..ok?

 

[Trajan]

what does the op test have to do with the title?

and since you mentioned it, and you don't have a link how many of these 700k jobs were census jobs that have then been let go? Or will continue to be let go?

and as far as these 700K jobs how much per job did we spend to 'create' them btw?

 

[asterism]

Some 723,000 workers have been added to payrolls so far in 2010.

I remember when a million jobs added in a quarter with 6% unemployment was considered bad by the press. What changed?

 

[8537]

what does the op test have to do with the title?

and since you mentioned it, and you don't have a link how many of these 700k jobs were census jobs that have then been let go?

Private sector jobs.

 

[uscitizen]

Some 723,000 workers have been added to payrolls so far in 2010, or 8.6 percent of the 8.4 million jobs lost during the worst employment slump in the post-World War II era. The jobless rate is forecast to stay above 9 percent through 2011, according to a Bloomberg survey taken Sept. 1 to Sept. 9.

“Even though the economy is growing again,” President Barack Obama said at the White House on Sept. 10, “the hole the recession left was huge and progress has been painfully slow.”

Obama has proposed extending middle-income tax cuts while letting the top rates rise, and wants to spend at least $50 billion as part of a six-year program to improve transportation infrastructure and create jobs.

It's Bush's fault!

 

[Toro]

what does the op test have to do with the title?

and since you mentioned it, and you don't have a link how many of these 700k jobs were census jobs that have then been let go?

Private sector jobs.

Private sector jobs have been growing at a clip of about 100k a month this year.

There has been a divergence between the household survey and nonfarm payrolls. There are many divergences in the data sets. That means we are at an inflection point in the economy. Either we are going to accelerate or decelerate. I thought we were going to decelerate but the stock market is acting like we are going to speed up.

 

[KissMy]

what does the op test have to do with the title?

and since you mentioned it, and you don't have a link how many of these 700k jobs were census jobs that have then been let go?

Private sector jobs.

Private sector jobs have been growing at a clip of about 100k a month this year.

There has been a divergence between the household survey and nonfarm payrolls. There are many divergences in the data sets. That means we are at an inflection point in the economy. Either we are going to accelerate or decelerate. I thought we were going to decelerate but the stock market is acting like we are going to speed up.

? Looks like markets think quantitative easing inflation is speeding up, not necessarily job creation. Have you seen the new high gold & silver made today? We are still at an inflection point with no catalyst & the yield curve is being smashed. WTF is up with Nucor's single stock flash crash today? Stocks are not headed higher at a faster rate than true inflation.

 

[loosecannon]

Some 723,000 workers have been added to payrolls so far in 2010.

I remember when a million jobs added in a quarter with 6% unemployment was considered bad by the press. What changed?

the demographics. It used to take 235,000 new jobs/month to keep pace with the growing workforce.

But now the workforce is shrinking, and fairly quickly. So now it takes about 150,000 new jobs/month to keep pace.

Even with August's gains, job growth has weakened in recent months and isn't enough to keep the unemployment rate from rising. Private employers have added only 78,000 jobs per month, on average, in the past three months. It would take at least 200,000 jobs a month to keep up with population growth and rehire millions of unemployed Americans.

New jobs not keeping pace with jobless | News-Leader.com | Springfield News-Leader

iow the 700,000+ new jobs are a step backwards.

Gobama! He was elected because the economy tanked and he will be replaced because the economy tanked.

 

[loosecannon]

There has been a divergence between the household survey and nonfarm payrolls. There are many divergences in the data sets. That means we are at an inflection point in the economy. Either we are going to accelerate or decelerate. I thought we were going to decelerate but the stock market is acting like we are going to speed up.

But most of the global data says we are gonna slow down. It's too bad. But it looks we have another dip to endure.

 

[asterism]

Some 723,000 workers have been added to payrolls so far in 2010.

I remember when a million jobs added in a quarter with 6% unemployment was considered bad by the press. What changed?

the demographics. It used to take 235,000 new jobs/month to keep pace with the growing workforce.

But now the workforce is shrinking, and fairly quickly. So now it takes about 150,000 new jobs/month to keep pace.

Even with August's gains, job growth has weakened in recent months and isn't enough to keep the unemployment rate from rising. Private employers have added only 78,000 jobs per month, on average, in the past three months. It would take at least 200,000 jobs a month to keep up with population growth and rehire millions of unemployed Americans.

New jobs not keeping pace with jobless | News-Leader.com | Springfield News-Leader

iow the 700,000+ new jobs are a step backwards.

Gobama! He was elected because the economy tanked and he will be replaced because the economy tanked.

So a slight net positive under Bush was bad but a major net negative under Obama is "heading in the right direction?"

Thanks.

 

[loosecannon]

Looks like markets think quantitative easing inflation is speeding up

Not according to the DXY, real estate prices or wages. According to every factor besides the CPI we seem to be stuck at the cusp of deflation. At least that's the way I read the tea leaves.

And what quantitative easing for that matter? Buying 10 year bonds if the need arises?

Lending at near zero interest to banks who won't lend?

If it is true, as John Williams says, that the money supply is shrinking at 6%/anum, and the velocity of the money supply is decelerating as people hoard, I can't see inflation occurring no matter how much money we print.

Just look at Japan. The volume of yen they distributed in the Carry Trade is staggering, and yet it was never enough to escape a deflationary trap.

I think that we don't yet know how to cure deflation short of total war. But I am here to learn.

 

[loosecannon]

So a slight net positive under Bush was bad but a major net negative under Obama is "heading in the right direction?"

Thanks.

apparently so. I question this quote by the OP:

or 8.6 percent of the 8.4 million jobs lost during the worst employment slump in the post-World War II era

I don't know if the roles of the unemployed have dropped by 8.6% this year. I sorta think that was a weasel statement.

 

[Trajan]

Private sector jobs.

Private sector jobs have been growing at a clip of about 100k a month this year.

There has been a divergence between the household survey and nonfarm payrolls. There are many divergences in the data sets. That means we are at an inflection point in the economy. Either we are going to accelerate or decelerate. I thought we were going to decelerate but the stock market is acting like we are going to speed up.

? Looks like markets think quantitative easing inflation is speeding up, not necessarily job creation. Have you seen the new high gold & silver made today? We are still at an inflection point with no catalyst & the yield curve is being smashed. WTF is up with Nucor's single stock flash crash today? Stocks are not headed higher at a faster rate than true inflation.

along sector lines, Barrons has semi conductors flat for the rest of the year, software seems to be okay, but tech. is slowing down...that will think affect x-mas sales drastically as well. Gold is going to 1500, by May if that long, , deflation scares be damned.

 

[KissMy]

Looks like markets think quantitative easing inflation is speeding up

Not according to the DXY, real estate prices or wages. According to every factor besides the CPI we seem to be stuck at the cusp of deflation. At least that's the way I read the tea leaves.

And what quantitative easing for that matter? Buying 10 year bonds if the need arises?

Lending at near zero interest to banks who won't lend?

If it is true, as John Williams says, that the money supply is shrinking at 6%/anum, and the velocity of the money supply is decelerating as people hoard, I can't see inflation occurring no matter how much money we print.

Just look at Japan. The volume of yen they distributed in the Carry Trade is staggering, and yet it was never enough to escape a deflationary trap.

I think that we don't yet know how to cure deflation short of total war. But I am here to learn.

The Money Supply is no longer shrinking!

 

[loosecannon]

The Money Supply is no longer shrinking!

WTF!

How?

edited to add, that's a good thing btw. Inflation is what we should all be hoping and praying for, as much as possible. Double digit for ten years? PRAISE JESUS!

 

[KissMy]

The Money Supply is no longer shrinking!

WTF!

How?

edited to add, that's a good thing btw. Inflation is what we should all be hoping and praying for, as much as possible. Double digit for ten years? PRAISE JESUS!

It's John Williams shadowstats chart updated 2 days ago. The Fed is pouring money into the system buying up 10 year treasuries. Banks have to do something else with their money now.

 

[loosecannon]

It's John Williams shadowstats chart updated 2 days ago. The Fed is pouring money into the system buying up 10 year treasuries. Banks have to do something else with their money now.

The Jackson Hole Summit featured the Fed asserting that they would buy 10 year bonds IF the situation called for it, right?

And even if they did how does that force banks to lend?

You are leaving out far more than you are saying.