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

[rightwinger]

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.

 

[CrusaderFrank]

Higher oil prices are helpful?

LOL

 

[Dr.House]

I'm sure this means a lot to all those new people who just lost their jobs recently...

 

[rightwinger]

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!

 

[Meister]

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!

Unexpected higher unemployment. It all depends on what indicators you want to follow.

 

[CrusaderFrank]

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

Yeah, that's a classic recovery

 

[Dr.House]

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!

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

w00t...

 

[rightwinger]

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!

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

w00t...

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??

 

[Meister]

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!

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

w00t...

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??

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.

 

[Dr.House]

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

Why would that be??

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...

 

[rightwinger]

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

Why would that be??

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...

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.

Looking good!

Start of the year the stock market had lost 50% of its value
Housing market had crashed
Unemployment was in a free fall
Banks were failing
Auto industry was collapsing

Looks like the economy is starting to turn around. Great for America

 

[LibocalypseNow]

Wow are people incredibly ignorant & gullible or what? The very same people who caused our economic meltdown are still in charge and now they're saying that everything is just rosy. Bernanke,Dodd,and Frank caused all our economic pain and they have not been held accountable. Now these same inept & corrupt cretins are telling us that everything is looking just great. I would be very wary of anything these cretins say. Unfortunately this is the way our Government currently works...We continue to allow the same corrupt cretins who got us into this terrible mess to B.S. us into thinking that they're gonna be the ones to fix their terrible mess. Until these corrupt cretins are removed,nothing is going to really get any better.

 

[Dr.House]

Looks like the economy is starting to turn around. Great for America

Hundreds of thousands of newly out-of-work Americans disagree with your spin...

 

[LibocalypseNow]

In fact i would have to ask why aren't Bernanke,Dodd,and Frank in Prison by now? People really are too gullible if they believe these same people who created so much pain & suffering are going to be the same people who are going to fix things. Why should i believe anything Bernanke says? Why should anyone believe anything Bernanke says? More Americans need to start asking that important question.

 

[rightwinger]

Given the severity of our economic colapse in 2008, any recovery is going to be cautious. But Good News is still Good News

Economic indicators are up. Does it matter?
The Leading Economic Index rose for the fourth straight month, according to data released Thursday. It indicates that the recession is fading, but some analysts say the recovery will be weak.

By Mark Trumbull | Staff writer/ August 20, 2009 edition
Print this Letter to the Editor Republish Get e-mail alerts RSS

The Monitor's Dave Cook talks with reporter Mark Trumbull about the possibility of a near-term economic recovery.

Dave Cook


--------------------------------------------------------------------------------
The road ahead for the US economy is looking brighter. But that doesn’t mean Americans will be on Easy Street.

A widely watched index of indicators that forecast the economy’s future direction rose in July for the fourth straight month, the Conference Board in New York reported Thursday. The business research group said its Leading Economic Index rose 0.6 percent for the month.

To many forecasters, this adds to growing evidence that the US and global economies are beginning to leave recession behind after a financial crisis of historic proportions.

But very few see this improvement translating quickly into what feels like strength in the job market, the housing market, or retail sales.

Perhaps no one has made the point more bluntly than Olivier Blanchard, the chief economist at the International Monetary Fund, did this week.

“The turnaround will not be simple,” he wrote in an article released by the IMF. “The crisis has left deep scars, which will affect both supply and demand for many years to come.”

Because the recession was not run-of-the-mill, and the recovery won’t be either, he warned.

What’s hopeful is that the big declines in economic activity appear to be over. Six of the leading index’s 10 components improved last month, three fell, and one was neutral. In an important shift, two of the factors showing improvement were tied to the job market: initial claims for unemployment insurance and average weekly hours worked in manufacturing.
Economists generally expect to see US gross domestic product grow in the current quarter and beyond, while other key nations around the world also may have turned a corner toward growth.

Some forecasters say the recovery could prove to strong, despite the lingering effects of the financial crisis.

 

[LibocalypseNow]

Until corrupt cretins like Bernanke,Dodd,and Frank are held accountable and removed,i'm not buying anything this Government tells us. Yea the same cretins who created this terrible mess are going to fix this terrible mess. Keep on dreaming America. It just aint gonna happen.

 

[rightwinger]

It amazes me the number of people who actively root against any sector of the economy improving. They actually enjoy seeing people out of work, losing their savings, their homes....their livelyhoods

All for a political agenda

 

[Ringel05]

Cool, good news is good news.
But at this point we've just received the ball on our own one yard line with most of the team banged up. I won't declare real progress until we're at least at the 50 yard line or predict a touch down until we're at the goal line on first down and the other team's so banged up they can't stop us.

 

[KittenKoder]

It amazes me the number of people who actively root against any sector of the economy improving. They actually enjoy seeing people out of work, losing their savings, their homes....their livelyhoods

All for a political agenda

Well ... according to Obama's way of thinking, any recovery we see now is a result of Bush ...

 

[JakeStarkey]

The economy is beginning to turn, and the Dems are going to tell the public righteously next year that the "Pubs tried to screw you over one too many times." We are toast in the next election. Time to work for moderate Pubs and conservative Dems. Everybody on right and left gets tossed walks the plank.