Economic REALITY thread

[Zander]

The economy is still in the dumps and likely to get worse. Unemployment is growing, foreclosures are increasing, the stock market is ready to tank, and our debt is skyrocketing. This thread is about the economic reality that we are facing.

 

[Zander]

Here is some economic reality..... Defaults and Foreclosures are at a record high.....Sorry folks, the truth is often bitter.

Mortgage delinquencies drag on economic recovery - Yahoo! Finance

ASHINGTON (AP) -- The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments.

Analysts expect improvement soon, but the number of homeowners in default or at risk of foreclosure will have a lingering effect on the broader economy.

More than 10 percent of homeowners with a mortgage had missed at least one payment in the January-March period, the Mortgage Bankers Association said Wednesday. That's a record high and up from 9.1 percent a year ago.

 

[Annie]

Here is some economic reality..... Defaults and Foreclosures are at a record high.....Sorry folks, the truth is often bitter.

Mortgage delinquencies drag on economic recovery - Yahoo! Finance

ASHINGTON (AP) -- The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments.

Analysts expect improvement soon, but the number of homeowners in default or at risk of foreclosure will have a lingering effect on the broader economy.

More than 10 percent of homeowners with a mortgage had missed at least one payment in the January-March period, the Mortgage Bankers Association said Wednesday. That's a record high and up from 9.1 percent a year ago.

Yup. Lost my job a week and a half ago, though I've got to tough it through next week. I won't make my mortgage on unemployment.

 

[Paulie]

Here is some economic reality..... Defaults and Foreclosures are at a record high.....Sorry folks, the truth is often bitter.

Mortgage delinquencies drag on economic recovery - Yahoo! Finance

ASHINGTON (AP) -- The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments.

Analysts expect improvement soon, but the number of homeowners in default or at risk of foreclosure will have a lingering effect on the broader economy.

More than 10 percent of homeowners with a mortgage had missed at least one payment in the January-March period, the Mortgage Bankers Association said Wednesday. That's a record high and up from 9.1 percent a year ago.

Yup. Lost my job a week and a half ago, though I've got to tough it through next week. I won't make my mortgage on unemployment.

I'm sorry to hear that Kath.

I'm an advocate for cutting loose the teachers who aren't producing and just sucking the government payroll dry, but I have no doubt that you're a good teacher who got the short end of the stick.

I wish you well in the future. Keep your head up.

 

[KissMy]

Here is some economic reality..... Defaults and Foreclosures are at a record high.....Sorry folks, the truth is often bitter.

Mortgage delinquencies drag on economic recovery - Yahoo! Finance

ASHINGTON (AP) -- The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments.

Analysts expect improvement soon, but the number of homeowners in default or at risk of foreclosure will have a lingering effect on the broader economy.

More than 10 percent of homeowners with a mortgage had missed at least one payment in the January-March period, the Mortgage Bankers Association said Wednesday. That's a record high and up from 9.1 percent a year ago.

Yup. Lost my job a week and a half ago, though I've got to tough it through next week. I won't make my mortgage on unemployment.

Don't worry about that mortgage payment. I know people who haven't paid in 26 months & have yet to be foreclosed on or evicted. Now they are up for a redo on their mortgage.

 

[Neubarth]

Here is some economic reality..... Defaults and Foreclosures are at a record high.....Sorry folks, the truth is often bitter.

Yup. Lost my job a week and a half ago, though I've got to tough it through next week. I won't make my mortgage on unemployment.

I'm sorry to hear that Kath.

I'm an advocate for cutting loose the teachers who aren't producing and just sucking the government payroll dry, but I have no doubt that you're a good teacher who got the short end of the stick.

I wish you well in the future. Keep your head up.

A great many of the teachers who have been labeled as non productive have been given starting jobs in the inner city ghettos and told that they have to teach the 83 average percentile IQ students to achieve at reading and math proficiency as if they were average IQ students.

Most 83 IQ students can not learn to read above a third grade level. Telling a beginning teacher that they do not measure up when they are asked to do the impossible is cruel and unusual punishment. We should sterilize people with IQ's that low so they do not breed.

 

[Zander]

Yup. Lost my job a week and a half ago, though I've got to tough it through next week. I won't make my mortgage on unemployment.

I'm sorry to hear that Kath.

I'm an advocate for cutting loose the teachers who aren't producing and just sucking the government payroll dry, but I have no doubt that you're a good teacher who got the short end of the stick.

I wish you well in the future. Keep your head up.

A great many of the teachers who have been labeled as non productive have been given starting jobs in the inner city ghettos and told that they have to teach the 83 average percentile IQ students to achieve at reading and math proficiency as if they were average IQ students.

Most 83 IQ students can not learn to read above a third grade level. Telling a beginning teacher that they do not measure up when they are asked to do the impossible is cruel and unusual punishment. We should sterilize people with IQ's that low so they do not breed.

Eugenics is a debunked theory that was responsible for millions of deaths. You really need to get help if you believe that crap. Seriously.

 

[uscitizen]

Neubarth is proof that Eugenics works

 

[Neubarth]

Neubarth is proof that Eugenics works

Good genes are good genes. MY Great Grandfather was the World famous naturalist Berthold Neubarth. My mother's father was a doctor. Her brother was a doctor. My father was a doctor. My mother was president of her class in college and editor of her school newspaper. Very capable minds usually produce children who are equally capable. I had the highest SAT score in my high school class yet enlisted in the Navy out of high school because we were in the Vietnam War and I wanted to serve.

I retired at 51, a millionaire.

I left the Navy after having spent 12 years of my life in service to my country (You do not get rich that way.) So, even though I had orders to Naval Post Graduate School, I quit a very successful naval officer career to become a manager with Pacific Bell Telephone. 18 years later in 2000 I retired. I have used my funds to raise children 90 percent of whom were not mine. We just took them in off of the streets.

Instead of watching mindless drivel on television every night, I read and learn. I have done so all of my adult life. My family motto for all of my 30+ children has been, "Learn as much as you can about everything!"

All of my children have done so and are very well rounded individuals. You can take average potential kids and turn them into A students. I have proven that many, many times. Sadly, you can not take stupid and turn them into honor students. You have to start with some potential. If you are starting with an 85 or lower IQ, you are lucky if you can teach them to read with limited understanding. That does not mean that you can not teach them to work.

 

[Neubarth]

I'm sorry to hear that Kath.

I'm an advocate for cutting loose the teachers who aren't producing and just sucking the government payroll dry, but I have no doubt that you're a good teacher who got the short end of the stick.

I wish you well in the future. Keep your head up.

A great many of the teachers who have been labeled as non productive have been given starting jobs in the inner city ghettos and told that they have to teach the 83 average percentile IQ students to achieve at reading and math proficiency as if they were average IQ students.

Most 83 IQ students can not learn to read above a third grade level. Telling a beginning teacher that they do not measure up when they are asked to do the impossible is cruel and unusual punishment. We should sterilize people with IQ's that low so they do not breed.

Eugenics is a debunked theory that was responsible for millions of deaths. You really need to get help if you believe that crap. Seriously.

Zander, that is the stupidest thing you have posted to date and it is an outrageous lie.

Eugenics has never been responsible for millions of deaths. War has, but not eugenics which is usually defined as intelligent breeding. Retarded people with IQ's below 90 produce retarded children with fantastic consistency. That is a scientific fact. Low IQ in equals low IQ out.

If you are too fucking stupid to know that, I suggest you read a little. It is idiotic ignorant attitudes like yours that have given us city cores where the average IQ of the school students is below 85. We have millions of retarded people in our major cities all across the nation. Most of those retarded parents are on social security because they can not function in society. They are breeding at an alarming rate and millions of them are set up by the system in our inner cities. In Detroit they are averaging 5.3 children per female. As soon as the kids reach 18 they are put on social security and they start breeding again at the same alarming rate.

Every dozen years we double our numbers of retarded on Social Security. It is because the system is breeding a race of retarded who have only one function in the Social Security system, and that is to breed. We need to sterilize them so they do not breed.

That is eugenics. It is practical and reasonable and there is nothing wrong with it. We do not need to be producing "welfare mothers" by the millions every year. If they are too dumb to work, they should not be breeding. If you want them to breed for your perverse amusement, then you can pay for them and watch them all you want. I think paying them to breed endless generations of retards with our public money is a waste.

 

[Zander]

More Economic REALITY. Leading economic indicators drop. If you think this is bad, wait until next months report.........

Leading indicators drop 0.1 percent in April - Yahoo! Finance
NEW YORK (AP) -- A private research group's index of leading economic indicators unexpectedly slipped in April, its first drop in more than a year and a sign that growth could slow this summer.

The Conference Board said its gauge of future economic activity edged down 0.1 percent last month, the first decline since March 2009. Economists polled by Thomson Reuters had expected a gain of 0.2 percent.

The index is designed to forecast economic activity in the next three to six months.

The decline "suggests a recovery that will continue through summer, although it could lose a little steam," said Ken Goldstein, an economist at the Conference Board.

While the recovery from the recession has spread more broadly through the U.S. economy this spring, a big drop-off in plans to build homes and a debt crisis in Europe may have weighed on growth, discouraging employers from hiring.

The research group also revised its March growth estimate to 1.3 percent, slightly less than the 1.4 percent growth it had previously estimated.

Six of the index's 10 components deteriorated in April. The biggest drags on the index: U.S. residents filed fewer applications to build homes, vendors were slower in delivering supplies to companies, the unemployed filed more claims for jobless aid and consumers' confidence dropped.

Four components improved, including higher stock prices, on average; a sharper difference between overnight and 10-year borrowing costs, historically a positive signal; more hours worked in factories and an increase in manufacturers' orders for capital goods.

 

[Zander]

More economic Reality.....new claims for unemployment benefits jump. Jobless claims rise by largest amount in 3 months - Yahoo! News

WASHINGTON – The number of people filing new claims for unemployment benefits unexpectedly rose last week by the largest amount in three months. The surge is evidence of how volatile the job market remains, even as the economy grows.

Applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week, the Labor Department said Thursday. It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February.

The total was the highest since new claims reached 480,000 on April 10. It also pushed the average for the last four weeks to 453,500.

 

[boedicca]

Here is some economic reality..... Defaults and Foreclosures are at a record high.....Sorry folks, the truth is often bitter.

Yup. Lost my job a week and a half ago, though I've got to tough it through next week. I won't make my mortgage on unemployment.

I'm sorry to hear that Kath.

I'm an advocate for cutting loose the teachers who aren't producing and just sucking the government payroll dry, but I have no doubt that you're a good teacher who got the short end of the stick.

I wish you well in the future. Keep your head up.

Ditto that. I wish you the very best of luck in beating the odds and finding a good job soon.

 

[boedicca]

Neubarth is proof that Eugenics works

Good genes are good genes.

Could we please leave eugenics out of this discussion and focus on the economy?

Thank you.

 

[Neubarth]

Neubarth is proof that Eugenics works

Good genes are good genes.

Could we please leave eugenics out of this discussion and focus on the economy?

Thank you.

Alas, boedicca, you do not understand that money spent on the massive welfare state that we have created in the past thirty years is money that is not being spent on infrastructure that would keep our economy strong. The collapsing infrastructure is costing us jobs by the millions.

When it comes to the economy, do we need to sacrifice it to put twenty million more on Social Security at the age of 18 because they are the children of retarded Social Security parents who were the children of retarded Social Security parents who were the children of the original Welfare mothers that we put on Social Security so we could claim that we had reduced the welfare rolls in states all across the nation?

Do you have any idea how many hundreds of billions will be spent on this growing mass of retarded citizens all living off of the public teat in the major cities all across this land. It quite frankly is our major growing economic problem in America right now. Ignoring it will not make it go away, even if you squeeze your eyes shut as hard as you can. The problem will still be there and growing.

 

[boedicca]

Sadly, the real answer is to just Let It Burn.

Until the federal government collapses under its own weight, we are just re-arranging the deck chairs. Almost all proposals just defer the problem, and actually make it worse.

 

[Neubarth]

More economic Reality.....new claims for unemployment benefits jump. It also pushed the average for the last four weeks to 453,500.

As you should know by now, Zander that did not happen. Unemployment claims actually went down as reported by the states. We are in the period that I told you people was coming when the Goldman Sachs boys want to bring the market down to capitalize on their derivative investments.

Witness actual UI claims are falling. The Euro is still above its average against the dollar. I remember when ninety cents American could buy a Euro. Now, it takes $1.22 to buy a Euro. From this they get the sheeple to panic. Ha! Yet, the sheeple do panic because they always believe what they are told.

It used to be that a fifth rate country like Guatemala or Greece defaulting on their loans would not have mattered to the major markets of the world.

All it was was another fifth rate country failing to understand finance.

Happens all the time in the fifth rate country world.

Now, all of a sudden the sheeple are told that they are supposed to panic because Greece might be thrown out of the Euro consortium. So the sheeple panic. I have protected my investments in anticipation of what the sheeple will do once thus stimulated. It amazes me that people can be so stupid all of the time. Goldman Sachs can get them to do anything.

 

[Zander]

More economic REALITY......http://www.telegraph.co.uk/finance/...-1930s-pace-as-Obama-eyes-fresh-stimulus.html
US money supply plunges at 1930s pace as Obama eyes fresh stimulus

The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.

The money supply is shrinking......last time this happened was the last time we had massive government intrusion on the free markets - the Great Depression...

The M3 figures - which include broad range of bank accounts and are tracked by British and European monetarists for warning signals about the direction of the US economy a year or so in advance - began shrinking last summer. The pace has since quickened.

The stock of money fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6pc. The assets of insitutional money market funds fell at a 37pc rate, the sharpest drop ever. "It’s frightening," said Professor Tim Congdon from International Monetary Research. "The plunge in M3 has no precedent since the Great Depression. The dominant reason for this is that regulators across the world are pressing banks to raise capital asset ratios and to shrink their risk assets. This is why the US is not recovering properly," he said.

The US authorities have an entirely different explanation for the failure of stimulus measures to gain full traction. They are opting instead for yet further doses of Keynesian spending, despite warnings from the IMF that the gross public debt of the US will reach 97pc of GDP next year and 110pc by 2015.

Stimulus failed? No problem!! We'll double down!! Brace yourselves, it is going to get worse........

 

[william the wie]

More economic REALITY......US money supply plunges at 1930s pace as Obama eyes fresh stimulus - Telegraph
US money supply plunges at 1930s pace as Obama eyes fresh stimulus

The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.

The money supply is shrinking......last time this happened was the last time we had massive government intrusion on the free markets - the Great Depression...

The M3 figures - which include broad range of bank accounts and are tracked by British and European monetarists for warning signals about the direction of the US economy a year or so in advance - began shrinking last summer. The pace has since quickened.

The stock of money fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6pc. The assets of insitutional money market funds fell at a 37pc rate, the sharpest drop ever. "It’s frightening," said Professor Tim Congdon from International Monetary Research. "The plunge in M3 has no precedent since the Great Depression. The dominant reason for this is that regulators across the world are pressing banks to raise capital asset ratios and to shrink their risk assets. This is why the US is not recovering properly," he said.

The US authorities have an entirely different explanation for the failure of stimulus measures to gain full traction. They are opting instead for yet further doses of Keynesian spending, despite warnings from the IMF that the gross public debt of the US will reach 97pc of GDP next year and 110pc by 2015.

Stimulus failed? No problem!! We'll double down!! Brace yourselves, it is going to get worse........

I doubt that the congress will pass any such stimulus prior to the election. If the Republicans gain control of either house it will have to pass in a lameduck session over GOP filibuster in the Senate which would be a nightmare scenario for the DNC. So while I agree the administration wants to do this they ain't going to be able to do this.

 

[antagon]

the great depression came about when the government took no action to increase the money supply in a recession. the US has not required banks to leverage more assets. how do you or your article account for what is going on in the US?

i account for it as continued, persistent deflation. the inflationary indications of spending, deficit spending in particular, is a solution, rather than a problem - a solution out of milton friedman's action plan, rather than the misattribution to maynard keynes your article made. typical brits, taking all the credit.

in light of the deflation indicated in the housing market, the upward trending dollar, and this money supply trend, the idea that austerity will solve anything for the US is ignorance. what do you think will happen if the government pulls the brakes on expenditure? do y'all have a clue?