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Cleaner44
08-18-2009, 05:50 PM
I thought it would be a good idea to maintain a running history of declarations of recovery. This is much like when you go back and read quotes of propaganda from 1930, 1931, 1932, etc. all saying that things are improving and the recession is over.

I should have started this months ago, but better late than never. Remember how Bernake said months ago that we would be recovering by now? Let's start with declarations I have seen today.

The global recession is now over
https://www.kitcomm.com/showthread.php?t=48236

The global recession is now over and a recovery has begun, Olivier Blanchard, the top economist for the International Monetary Fund, said Tuesday.

Cleaner44
08-18-2009, 05:59 PM
At this point the U.S. GDP is at the lowest it has been since at least 1982, no matter how you measure it.
Official government statitics put the GDP at -4%.
Alternative Shadow Stats put the GDP at -6%.

http://www.shadowstats.com/imgs/sgs-gdp.gif

http://www.shadowstats.com/alternate_data

Cleaner44
08-18-2009, 06:08 PM
Report: Economists Say Recession Over, Want Bernanke to Stay
Economists date the start of the recession to December 2007 -- defining much of Bernanke's term, which started in early 2006 -- and a majority agree that the recession is coming to an end.
http://www.foxnews.com/politics/2009/08/11/report-economists-say-recession-want-bernanke-stay/

muzungu
08-18-2009, 06:13 PM
What about the "Soft Landing" that our economy was supposed to be experiencing during 2008, as repeated ad nauseum by Bernanke, Bush, Paulson and all the parrots on CNBC early last year? Sorry guys, that concrete wall was NOT too "soft"!

Cleaner44
08-18-2009, 06:13 PM
August 18, 2009

Recovery begins, but recession leaves scars, IMF says
The global recession is now over and a recovery has begun, Olivier Blanchard, the top economist for the International Monetary Fund, said Tuesday.
http://www.marketwatch.com/story/recovery-begins-but-recession-leaves-scars-imf-2009-08-18

Cleaner44
08-18-2009, 06:17 PM
Credit crunch likely to persist, bankers say
http://www.marketwatch.com/story/credit-crunch-likely-to-persist-bankers-say-2009-08-17-14600

This kind contridicts the story that the worst is over...

Cleaner44
08-18-2009, 06:24 PM
U.S. unemployment eases at 9.4%; job losses shrink
The U.S. jobless rate eased to 9.4 percent in July from 9.5 percent the previous month, the Labor Department's Bureau of Labor Statistics reported.
http://www.bizjournals.com/denver/stories/2009/08/03/daily84.html

I wonder if these numbers will be revised later...

Cleaner44
08-18-2009, 06:29 PM
I guess 9.4% is accurate as long as one only pays attention to the U3 number and ignores U6...

I guess those people don't matter anyway and should not be counted. Thank goodness, because if we did count them, our Unemployment Rate would be over 16%! :eek:

http://www.shadowstats.com/imgs/sgs-emp.gif

http://www.shadowstats.com/alternate_data

muzungu
08-18-2009, 06:36 PM
I guess 9.4% is accurate as long as one only pays attention to the U3 number and ignores U6...

I guess those people don't matter anyway and should not be counted. Thank goodness, because if we did count them, our Unemployment Rate would be over 16%! :eek:

http://www.shadowstats.com/imgs/sgs-emp.gif

http://www.shadowstats.com/alternate_data


I have read several analysts state that, due to the way that unemployment is "officially" calculated these days, the reported unemployment rate can never and will never be greater than 14% or so, no matter how many people are REALLY out of work, due to those who lost their jobs earlier losing their unemployment benefits, and therefore falling off the lists of the "officially" unemployed.

In other words, what is commonly reported as the "Unemployment Rate" is no such thing, but is merely the percentage of those workers who are currently collecting unemployment compensation. Truly Orwellian.

GuldGosse
08-18-2009, 06:41 PM
At this point the U.S. GDP is at the lowest it has been since at least 1982, no matter how you measure it.
Official government statitics put the GDP at -4%.
Alternative Shadow Stats put the GDP at -6%.

http://www.shadowstats.com/imgs/sgs-gdp.gif

http://www.shadowstats.com/alternate_data

I bet you that if you overlay the inflation chart over the GDP growth chart you'll find that the reason GDP is constantly growing is due to constant inflation. GDP collapses right now due to the deflationary crash occuring.

Cleaner44
08-18-2009, 06:41 PM
Toxic Loans Topping 5% May Push 150 Banks to Point of No Return
More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aTTT9jivRIWE

Cleaner44
08-18-2009, 06:43 PM
August 17, 2009
Delinquency rate on bank loans up to record 6.49%
Delinquency rates for loans and leases at U.S. banks increased to a record 6.49% in the second quarter from 5.58% in the first quarter, the Federal Reserve announced Monday.
http://www.marketwatch.com/story/delinquency-rate-on-bank-loans-up-to-record-649-2009-08-17

Cleaner44
08-20-2009, 08:52 AM
August 20, 2009

Jobless claims in surprise rise
Initial filings jump unexpectedly to 576,000 in latest week, a continuing sign of labor market weakness. Continuing claims also increase.
http://money.cnn.com/2009/08/20/news/economy/initial_jobless_claims/?postversion=2009082008

Rattlesnake
08-20-2009, 08:58 AM
What an excellent thread. Good job.

tinhorn
08-20-2009, 11:06 AM
Leslie Stahl: So you think we're going to be past all this by the end of '09?
Barney Frank: Oh, I think by the end of '09 or 2010, we will be.

Cleaner44
08-20-2009, 12:09 PM
Leading indicators rise 0.6% in July
An economic recovery may begin soon, and data suggest that the recession is bottoming out, the Conference Board said Thursday.
http://www.marketwatch.com/story/leading-indicators-rise-06-in-july-2009-08-20

Norburg
08-20-2009, 01:58 PM
Leading indicators rise 0.6% in July
An economic recovery may begin soon, and data suggest that the recession is bottoming out, the Conference Board said Thursday.
http://www.marketwatch.com/story/leading-indicators-rise-06-in-july-2009-08-20

Everyday some analyst's call the bottom. Kind of reminds me of the movie Groundhog Day.
I sure would like to meet these "some analysts"
Did the MSM always make up the news or is it just getting more Blatant??

Cleaner44
08-20-2009, 04:16 PM
August 20, 2009

Foreclosures rise, driven by loss of jobs and income
Delinquency and foreclosure rates for U.S. mortgages continued to rise in the second quarter, with loans to the most qualified borrowers going bust at an unnerving clip, especially in hard-hit states such as Florida and California...

...The unemployment rate stood at 9.4 percent in July but is expected to peak above 10 percent. That means more foreclosures, which will put a drag on recovery.

"It will definitely slow down the housing market a bit, which will have a corollary effect on the overall economy coming back" to life, Sharga said.

http://www.miamiherald.com/news/politics/AP/story/1195219.html

Cleaner44
08-20-2009, 04:20 PM
August 20, 2009

Sears posts surprise loss; turnaround hopes fade
Sears Holdings Corp (SHLD.O) posted a surprise second quarter loss on Thursday as sales declines outpaced cost cuts, sending its shares tumbling and dimming investor hopes that billionaire investor Eddie Lampert can turn the retailer around...

...Sears shares fell 11.8 percent to $65.07 on Nasdaq. Through Wednesday, the stock had gained 80 percent this year, but was still less than half what it was just over two years ago.

http://www.reuters.com/article/rbssRetailDiscountStores/idUSN2050628020090820

Cleaner44
08-20-2009, 04:26 PM
August 20, 2009

Mortgage delinquencies hit record high in Q2
With the recession throwing thousands of people out of work daily, more than 13 percent of American homeowners with a mortgage have fallen behind on their payments or are in foreclosure...

...Now making $120 a week as a part-time supermarket cashier, Kennedy says she commiserates with her co-workers, some of whom are also facing foreclosure.

"We talk about it and laugh," she said. "It's not really a funny situation, but sometimes you have to laugh to keep your sanity, so you don't make yourself nuts."

http://www.google.com/hostednews/ap/article/ALeqM5jYpmPSg0IbaMEFonSzy5g-fIAR0gD9A6Q3R04

Cleaner44
08-20-2009, 04:28 PM
August 20, 2009

Stocks advance on more signs of economic pickup
More signs that the economy is creeping toward recovery encouraged investors to move further into stocks — but at a cautious pace...

...Treasury prices closed mixed, having regained some ground from earlier losses, another sign that investors are being careful. Government debt is considered one of the safest places to stash money. The yield on the benchmark 10-year note fell to 3.43 percent from late 3.46 late Wednesday.

http://www.google.com/hostednews/ap/article/ALeqM5jmT59dgLTTziX4p9X9MRBRpWZGdQD9A6RFUG0

Cleaner44
08-21-2009, 10:16 AM
August 21, 2009

Bernanke: U.S. Economy Near Recovery
The world economy is starting to emerge from its deep recession, Federal Reserve Chairman Ben S. Bernanke said Friday, owing to aggressive action by the Fed and other policymakers...

..."The view that the financial crisis had elements of a classic panic, particularly during its most intense phases, has helped to motivate a number of the Federal Reserve's policy actions," said Bernanke. "Bagehot instructed central banks -- the only institutions that have the power to increase the aggregate liquidity in the system -- to respond to panics by lending freely against sound collateral."
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/21/AR2009082101273.html

Cleaner44
08-21-2009, 10:22 AM
August 21, 2009

Fed Chairman Says American Economy Is Poised to Grow
Ben S. Bernanke, the chairman of the Federal Reserve, offered his most hopeful assessment in more than a year on Friday, asserting that “the prospects for a return to growth in the near term appear good"...

...Repeating the caution that Fed officials and most private forecasters have expressed in recent weeks, Mr. Bernanke predicted that the economic recovery “is likely to be relatively slow at first, with unemployment declining only gradually from high levels.”
http://www.nytimes.com/2009/08/22/business/economy/22fed.html

Cleaner44
08-21-2009, 10:27 AM
August 21, 2009

Banks' Foreclosure Pain Worsens With U.S. Job Losses
Foreclosures continue to pile up on bank balance sheets, and financial companies are faced with some difficult challenges to dealing with the mounting problem.

According to new data from the Mortgage Bankers Association released on Thursday, loans in the foreclosure process at the end of the second quarter rose to 4.3% of all loans, up 45 basis points from the first quarter and 155 basis points from the year-earlier period...

...Moreover, the Obama administration's Making Homes Affordable loan modification program is set to expire soon, which could soon flood the market with even more foreclosure inventory, says Brad Geisen, the founder and CEO of Foreclosure.com, a national database for distressed real estate data. The bulk of loan modifications made through the program "are going into foreclosure anyway," Geisen says.

"That's really a short-term solution to a long-term problem," he says. "We're going to see a big wave of those properties come onto the market ... probably at the end of the year into next year."
http://www.thestreet.com/story/10586042/1/banks-foreclosure-pain-worsens-with-us-job-losses.html?cm_ven=GOOGLEN

Cleaner44
08-21-2009, 11:00 AM
August 21, 2009

Unemployment Rates Rose in 26 U.S. States in July
Unemployment rates rose in 26 U.S. states in July, a sign the labor market will take time to improve and budget crises in capitals across the nation may deepen.

California, Nevada, Rhode Island and Georgia all reached their highest level of joblessness since records began in 1976, with California’s rising to 11.9 percent from 11.6 percent the previous month, the Labor Department reported today in Washington. The number of states with at least 10 percent unemployment held at 16...

...Some Americans are finding the only way to secure work is by moving to another state.

Sara Smithback, 23, relocated from her home in suburban Chicago to take a job in Houston. “I was definitely more flexible than I originally thought I would be,” said Smithback, who started applying for jobs in October during her last year as a student at the University of Chicago.

“Most of the places I interviewed at were hiring, but couldn’t hire as many people as they normally would. It was much more selective,” she said. She ultimately took a position at Reasoning Mind Inc., a nonprofit organization that designs math programs for elementary schools.

“I feel really lucky to have found something,” she said. “I like the job so far, it’s been interesting. It’s not something I had ever thought about doing before.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=aCmPzCU5Ca7Q

ziff2x
08-21-2009, 11:59 AM
Interesting thread. Im a middle aged man. Not sure this recovery will happen in my lifetime, but I guess it will be good to document the journey.

Cleaner44
08-23-2009, 05:28 PM
August 21, 2009

Georgia, Alabama Banks Shut; Toll of Failed Lenders Reaches 80
Georgia and Alabama banks with combined assets of $927 million were seized by regulators, pushing the tally of failed U.S. lenders this year to 80 amid the worst economic crisis since the Great Depression...

...Meredith Whitney, the analyst who predicted that Citigroup Inc. would cut its dividend last year, said the number of U.S. bank failures will quadruple as lenders struggle with bad loans.

“There will be over 300 bank closures,” Whitney said in an interview with Bloomberg Television from Jackson Hole, Wyoming. “The small-business owner on Main Street continues to see liquidity come away.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=aA0iBqzMFJIc

Ponce
08-23-2009, 06:16 PM
"No export = No recovery"... Ponce

And every day we export less and less........we are in for the long haul because the Fed keeps on printing money but with no income coming in.

The Federal Reserve is a racket that the US government (if they were honest) should get rid of.

graehaven
08-24-2009, 09:29 AM
We ain't seen nuthin' yet, folks. :mad: :eek:

graehaven
08-24-2009, 09:32 AM
America is just a few days away from a possible day of reckoning. I again call attention to this day, August 25, when the Federal Deposit Insurance Corporation issues its 2nd Quarter report for 2009 on the state of health of American banks.

It has not particularly alarmed Americans that its growth and prosperity have been built upon debt. The American public is a bit desensitized, particularly since the Y2K threat fizzled. We must wait and see how Americans respond to the upcoming FDIC report.

The following charts tell the story.....

http://www.lewrockwell.com/sardi/sardi116.html

graehaven
08-24-2009, 09:35 AM
"We are in a five month bear market rally that has carried the Dow from 6600 to 8500, where we believed it would end, and on to almost 9400. This constitutes a 50% move in the Dow from mid-March and a 6.2% move for the year, while the economy experiences the worst economic and financial debacle since the “Great Depression.” This rally is quite similar to the rallies of 1930 and 1932 - so do not get fooled as investors did. This is the time to be selling if you are still in the market or have cash value life policies or annuities."

http://www.marketoracle.co.uk/Article12892.html

:eek:

Cleaner44
08-24-2009, 04:37 PM
August 24, 2009

Taylor Bean Files for Bankruptcy
Taylor, Bean & Whitaker Mortgage Corp. announced it has filed for Chapter 11 bankruptcy protection, the move coming three weeks after a chain of events "crippled the company's business operation."

The death spiral began after the Federal Housing Administration suspended Taylor Bean's authority to issue FHA-insured loans. That was immediately followed by notices from Ginnie Mae and Freddie Mac suspending Taylor Bean as an issuer of mortgage-backed securities and a mortgage servicer...

..."This is a very complicated business, and the speed of its collapse has been stunning," said Neil Luria, Taylor Bean's new chief restructuring officer. "We are very appreciative of the efforts of the members of management and other company employees, along with a large team of professionals, who have worked tirelessly under very stressful circumstances to make today's filing possible. Much remains to be done, but we are committed to creating and realizing the value of the company's assets."
http://online.wsj.com/article/SB125113724702954379.html

Cleaner44
08-25-2009, 10:29 AM
August 25, 2009

Bernanke Is Nominated for Second Term as Fed Chief
Federal Reserve Chairman Ben S. Bernanke, who led the biggest expansion of the central bank’s power in its 95-year history to battle the worst economic slump since the Great Depression, was nominated to a second term today by President Barack Obama.
http://www.bloomberg.com/apps/news?pid=20601082&sid=aE6sEokA.P8U

Cleaner44
08-25-2009, 11:44 AM
August 25, 2009

White House, CBO see budget deficts for years ahead
The U.S. national debt will nearly double over the next 10 years as recession crimps government revenue while spending on retirement and medical benefits soars, official forecasts said on Tuesday...

...Orszag said that the White House numbers also assumed that some of the Bush tax cuts would be extended. Obama has pledged not to raise taxes on U.S. households earning less than $250,000 a year.
http://www.reuters.com/article/latestCrisis/idUSN25206095

Cleaner44
08-25-2009, 11:50 AM
August 25, 20009

U.S. Economy: Consumer Confidence, Home Prices Exceed Forecasts
U.S. consumer confidence climbed more than forecast and national home prices increased for the first time in three years, signaling government efforts to right the world’s biggest economy are starting to pay off...

...“The sharp freefall in prices is over,” said Michelle Meyer, an economist at Barclays Capital Inc. in New York. “People are entering the market and that is starting to normalize prices. It’s a clear positive.”

Compared with the prior month, 18 of the 20 areas covered showed an increase, while two showed a decrease. Cleveland and San Francisco had the biggest monthly gains.
http://www.bloomberg.com/apps/news?pid=20601068&sid=aUCD6r.E5yLw

Cleaner44
08-27-2009, 06:09 PM
August 27, 2009

Problem bank list tops 400
Number of troubled lenders continues to mount, hitting its highest level since June 1994, FDIC reports. Deposit insurance fund falls by 20%.

The number of institutions on the government's so-called "problem bank" list surpassed 400 in the latest quarter, climbing to its highest level in 15 years, according to a government report published Thursday.
http://money.cnn.com/2009/08/27/news/companies/fdic_list/?postversion=2009082713

Cleaner44
08-27-2009, 06:13 PM
August 27, 2009

U.S. Economy: GDP Contracts 1% as Recovery Approaches
The U.S. economy took a first step toward recovering from the worst recession since the 1930s in the second quarter as companies reduced inventories, spending started to climb and profits grew.

Gross domestic product shrank at a 1 percent annual rate from April to June, less than the 1.5 percent decline projected by economists in a Bloomberg News survey, a Commerce Department report showed today in Washington. Corporate earnings rose by the most in four years, the department also said...

...JPMorgan’s Kasman cautioned that unemployment claims will need to decline further to confirm his forecast that the labor market will soon improve. He acknowledged that U.S. consumers were likely to lag behind their global counterparts because of the need to repair tattered finances.

“This recovery has a lot going for it, but one thing it does not have going for it is an anticipation of a normalization for consumers,” Kasman said. “The economy will do better, but we aren’t going to have a full-bodied, strong recovery coming out of what has been a very damaging, deep recession.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5T5cAN8gZFY

mespe
08-27-2009, 07:15 PM
good Job, maybe this should be a sticky

DenariiForMe
08-27-2009, 11:07 PM
I second that motion

urban prospector
08-28-2009, 11:23 AM
check out this chart comparing the usa to japan ..sooky similar

http://www.bloomberg.com/apps/news?pid=20601109&sid=aKzgH4hvhh.g

Cleaner44
08-28-2009, 11:57 AM
August 28, 2009

Household Income Flat as Consumer Spending Rises
Consumers spent slightly more money in July as they took advantage of the government’s “cash for clunkers” automobile rebate program, but personal incomes were flat for the month, a sign that workers are still struggling to get by as prices of gasoline and food threaten to creep higher...

...“The savings rate got a big boost from the government subsidies, and now those are quickly fading,” said Ryan Sweet, an economist at Moody’s Economy.com. “Looking beyond the cash for clunkers, underlying consumer spending is extremely weak. Household finances are stretched. It’s unlikely that the consumer will lead us out of this recession.”
http://www.nytimes.com/2009/08/29/business/economy/29econ.html?hp

Cleaner44
08-28-2009, 12:00 PM
August 28, 2009

FDIC adds 111 banks to its troubled list
The FDIC added 111 banks to its “Problem List” in the second quarter.

At the end of June, there were 416 insured institutions on the list, up from 305 on March 31. This is the largest number of institutions on the list since June 30, 1994, when there were 434 institutions on the list, according to the government fund that protects consumer deposits...

...And more than 28 percent of all insured institutions reported a loss in the second quarter, compared with 18 percent a year earlier.
http://www.bizjournals.com/sanfrancisco/stories/2009/08/24/daily66.html

Cleaner44
08-28-2009, 12:05 PM
August 28, 2009

U.S. double-dip recession "out of the question": ECRI
A weekly measure of future U.S. economic growth slipped in the latest week, though its yearly growth rate surged to a 38-year high that suggests chances of a double-dip recession are slim.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index for the week to August 21 fell to 124.4 from a downwardly revised 124.9 the prior week, which was originally reported at 125.0...

...Achuthan has recently projected that the recovery is moving at a stronger pace than any the United States has seen since the early 1980s.
http://www.reuters.com/article/ousiv/idUSTRE57R34120090828

Cleaner44
08-31-2009, 08:54 AM
August 31, 2009

No need for second U.S. fiscal stimulus package: survey
The U.S. economy does not need a second fiscal stimulus package, instead the government should cut spending over the next two years, according to a survey of business economists released on Monday.

Most economists in the National Association for Business Economics (NABE) semi-annual poll were concerned about the outlook for the U.S. government budget. Also, they doubted health-care reforms proposed by the Obama administration would lower costs while increasing access and maintaining quality...

..."Half of the economists do not believe quantitative easing actions of the Fed will be inflationary over the next couple of years, while 41 percent think they will," the NABE said.
http://www.reuters.com/article/newsOne/idUSTRE57U0LT20090831

Cleaner44
08-31-2009, 08:57 AM
August 31, 2009

Inflation Will Accelerate Next Decade, Economists Say
The Federal Reserve will be unable to prevent the trillions of dollars in government stimulus pumped into the U.S. economy from stoking inflation over the next decade, a survey of business economists showed.
http://www.bloomberg.com/apps/news?pid=20601103&sid=awguLss.uevA

Cleaner44
08-31-2009, 08:59 AM
August 31, 2009

Federal Reserve made $14 billion on turmoil loans: report
The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter.

The U.S. central bank also earned about $19 billion from interest and fees charged to institutions that tapped liquidity facilities during the global financial crisis, the report said.

If the Fed had invested the same amounted loaned out in three-month Treasury bills since August 2007, it would have earned $5 billion in interest, the FT said.

This estimate excludes company bailouts and purchases of long-term assets as well as unrealized gains or losses on the Fed's portfolio of mortgage-backed securities and Treasuries purchased as part of the $1.75 trillion asset purchase program.

The Fed was not immediately available for comment on the report.
http://www.reuters.com/article/topNews/idUSTRE57U0BF20090831

Cleaner44
09-04-2009, 12:43 PM
September 4, 2009

U.S. Economy: Payroll Losses Slow, Unemployment Rate Climbs
The pace of U.S. job losses slowed in August while the unemployment rate reached a 26-year high, signaling the recovery from recession will be slow to develop.

Employers cut payrolls by 216,000, fewer than forecast, after a 276,000 drop in July, Labor Department data showed today in Washington. The jobless rate rose to 9.7 percent; the so- called underemployment rate -- which includes part-time workers who’d prefer a full-time position and people who want work but have given up looking -- reached a record 16.8 percent...

...The U.S. recession “is bottoming out” and the economy is poised for “a slow return,” Alcoa Inc. Chief Executive Officer Klaus Kleinfeld said in a Sept. 2 interview. The head of the largest U.S. aluminum producer said government stimulus in the U.S. and China will affect the New York-based company’s earnings “positively” this year.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aa.NY.SpFOnY

Cleaner44
09-05-2009, 11:16 AM
September 5, 2009

Five More U.S. Banks Are Seized, Pushing Total for Year to 89
Lenders in Illinois, Iowa, Missouri and Arizona collapsed, pushing the number of bank failures to 89 this year amid continuing fallout from the worst economic slump since the Great Depression...

...The FDIC insures deposits at 8,195 institutions with roughly $13.5 trillion in assets and reimburses customers for deposits of up to $250,000 per account when a bank fails. The surge in failures has depleted the Washington-based regulator’s deposit insurance fund, which fell to $10.4 billion at the end of June from $13 billion in the previous quarter, the agency said. The total was the lowest since 1993.

The agency has brokered the 6th and 11th largest bank failures in history this year in Birmingham, Alabama-based Colonial BancGroup Inc. and Austin, Texas-based Guaranty Financial Group Inc.
http://www.bloomberg.com/apps/news?pid=20601087&sid=atIgNJeY9A6g

SUMOSABE
09-05-2009, 11:19 AM
You can't even get Fries w/ this..........


http://www.nytimes.com/2009/09/05/business/economy/05teen.html

PrincessDidee
09-06-2009, 09:55 PM
if the chart is any measure at all of what course needs to be charted and soon, is a massive supply side stimulation of the private sector. seemed to work well coming out of the anemic economic growth in the late 1970's. now get er done p bo before the ship of state is beyond salvage.

Goldbrix
09-07-2009, 07:56 AM
You can't even get Fries w/ this..........

http://www.nytimes.com/2009/09/05/business/economy/05teen.html

What they fail to tell you is the Convict Coming Out of Prison Population has increased across tha nation dramatically. The convict usually has to start all over again and that means at the bottom. Where the youth of America usually begin.
The Cons usually end up staying put in a job longer due to their history. Seldom move up fast, and usually slower at finding the next best job due to reluctance of the next employer taking a chance on him /her.
The plus of hiring a ex-Con you don't have to worry about Minor Labor Laws and Hour Restrictions.

6 of 1 / half a dozen of another

Cleaner44
09-08-2009, 02:42 PM
September 8, 2009

U.S. consumer credit falls a record $21.6 bln in July
Total U.S. consumer credit fell by a record $21.6 billion in July, Federal Reserve data showed on Tuesday, while June's decline was bigger than previously thought.

July consumer credit outstanding fell at a 10.4 percent annual rate to $2.47 trillion, suggesting that households were shying away from credit amid rising unemployment...
http://www.reuters.com/article/bondsNews/idUSWEQ00136620090908

Cleaner44
09-08-2009, 02:44 PM
September 8, 2009

US gold jumps above $1,000 on dollar's sharp drop
New York gold futures rose above the psychological $1,000 an ounce mark on Tuesday as a sharp decline in the dollar and an oil rally boosted the metal's appeal as a hedge against the depreciating U.S. currency as well as rising inflation.
http://www.reuters.com/article/marketsNews/idUSN0840354320090908

Cleaner44
09-08-2009, 02:47 PM
September 8, 2009

Fed banks saw economy stabilizing, weak in August
Regional Federal Reserve banks saw the U.S. economy as stabilizing though still weak in August and none wanted to raise the rate the Fed charges emergency borrowers, documents released by the Fed on Tuesday showed...

...The next meeting of the Fed's policy-setting Federal Open Market Committee is September 22-23. Policy-makers say they will keep interest rates exceptionally low for a long time.
http://www.reuters.com/article/ousivMolt/idUSTRE58754E20090908

Cleaner44
09-09-2009, 10:34 AM
September 9, 2009

Taxpayers Unlikely to Recover GM, Chrysler Investment
U.S. taxpayers are unlikely to recover their $81 billion investment in General Motors Co. and Chrysler Group LLC and were “left in the dark” on specifics of a decision to aid automakers, a congressional panel said.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aUSIL6EM5ons

Cleaner44
09-09-2009, 10:37 AM
September 9, 2009

US home loan demand at 3-month high as rates fall
U.S. mortgage applications surged last week to their highest since late May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday.
http://www.reuters.com/article/marketsNews/idUSN0932384220090909

Cleaner44
09-09-2009, 10:41 AM
September 9, 2009

Recovery rules out depression a year after Lehman
Fears of a new Great Depression, all too real after Lehman Brothers collapsed a year ago, have abated as the global economy emerges from the depths of recession with the help of massive government intervention...

...The OECD effectively called an end to the recession in the industrialized world on September 3, saying economic growth looked set to return in the current third quarter after second-quarter accelerations in China and broader Asia that resuscitated cross-border trade.

The public think-tank now sees renewed expansions of gross domestic product in the United States and the euro zone in Q3, after respectively four and five quarters of shrinkage.
http://www.reuters.com/article/ousivMolt/idUSTRE58837820090909?pageNumber=2&virtualBrandChannel=0

Cleaner44
09-09-2009, 10:45 AM
September 9, 2009

Fed's Evans: US recovery "beginning to start"
The U.S. economic recovery is beginning to start but interest rate hikes are "some time down the road", Chicago Federal Reserve President Charles Evans said on Wednesday.
http://www.reuters.com/article/bondsNews/idUSNYC00328120090909

Cleaner44
09-09-2009, 10:51 AM
September 9, 2009

FDIC may extend debt guarantee program for banks
Federal regulators may offer a limited emergency extension of a temporary rescue program that guarantees hundreds of billions of dollars in U.S. banks' debt...

...The insurance fund, which had $10.4 billion at the end of June, has slipped to 0.22 percent of total insured deposits, below a congressionally mandated minimum of 1.15 percent.
http://www.google.com/hostednews/ap/article/ALeqM5jeEYkos-kGlHtHUhGAPnFf68MZKwD9AJSFCG3

Cleaner44
09-09-2009, 12:15 PM
September 9, 2009

Treasury Says Millions More Foreclosures Coming
Only 12 percent of U.S. homeowners eligible for loan modifications under the Obama administration's housing rescue plan have had their mortgages reworked, and millions more foreclosures are coming, the Treasury Department said on Wednesday.
http://www.nytimes.com/reuters/2009/09/09/business/business-us-usa-housing.html

Cleaner44
09-09-2009, 12:20 PM
September 9, 2009

Greenspan Sees ‘Fairly Pronounced Recovery’ in U.S.
The U.S. economy will start to pull out of a recession by yearend, helped by “remarkable growth” in productivity and a depletion of inventories, former Federal Reserve Chairman Alan Greenspan said.

“A lot of pieces are falling into place for recovery,” Greenspan said today in a speech in New York. He predicted “a fairly pronounced recovery not only in the U.S.,” but globally. “Surprises are on the upside.” ...

...Greenspan warned that rising budget deficits are “unsustainable” and pose a danger to the economy. The budget deficit is projected to total $1.6 trillion this year and $1.4 trillion next year, according to the nonpartisan Congressional Budget Office.

“We are running an ever-increasing deficit” and issuing more debt, he said. The “domestic market and the global market cannot continue to absorb this type of flow.” It is “absolutely essential to close the gap as soon as possible.”
http://www.bloomberg.com/apps/news?pid=20601068&sid=aFBopI.OOyKM

PrincessDidee
09-09-2009, 01:17 PM
the key to the recovery have always been and will continue always to be "supply side economics", works everytime its been employed.

Cleaner44
09-09-2009, 11:10 PM
September 10, 2009

Economy Still Fragile, Fed Reports
An economic recovery may well have arrived, but a Federal Reserve report released Wednesday shows just how varied it is proving to be among different industries and different regions.

The mixed picture underscores how fragile the economy remains. While growth overall may have resumed, the nation is still vulnerable to new shocks as long as there are such large pockets of weakness...

...The banking sector remains a mess, and consumers and businesses are reluctant to borrow money. "Most Districts reported that loan demand was weak and that credit standards remained tight," the beige book says. The commercial real estate sector also remains in rough shape. Industry officials indicated that "demand for space remained weak and that construction continued to decline in all Districts." The Richmond Fed, whose district includes the Washington area, noted that "some landlords had postponed property improvements in an effort to conserve cash."

The mixed assessment is consistent with economic data of late.

"The beige book read like a pretty cautious assessment of the economic recovery to this point," said Peter Hooper, chief economist at Deutsche Bank Securities. The expansion that he and other economists believe is underway is driven more by temporary factors than hard evidence of the kind of underlying trends that will "ultimately be needed to sustain a recovery."
http://www.washingtonpost.com/wp-dyn/content/article/2009/09/09/AR2009090902003.html?hpid=topnews

Cleaner44
09-10-2009, 11:30 AM
September 10, 2009

U.S. Initial Jobless Claims Fell to 550,000 Last Week
The number of Americans filing first-time claims for jobless benefits dropped last week to the lowest level since July, a sign the labor market is deteriorating at a slower pace.

Applications fell by 26,000 to 550,000 in the week ended Sept. 5, lower than economists forecast, from a revised 576,000 the week before, Labor Department data showed today in Washington. The total number of people collecting unemployment insurance declined to the lowest level since April.
http://www.bloomberg.com/apps/news?pid=20601068&sid=ag9R1aoTYI_o

Cleaner44
09-10-2009, 11:32 AM
September 10, 2009

U.S. Foreclosure Filings Top 300,000 for Sixth Straight Month
Foreclosure filings in the U.S. exceeded 300,000 for the sixth straight month as job losses that boosted the unemployment rate to a 26-year high left many homeowners unable to keep up with their mortgage payments.
http://www.bloomberg.com/apps/news?pid=20601103&sid=a3dnPxhcGAxs

Cleaner44
09-10-2009, 05:38 PM
September 10, 2009

Geithner says less need for government in markets
U.S. Treasury Secretary Timothy Geithner said on Thursday a strengthening economy means the government can end some of the extraordinary support it put in place for markets and prepare for a slow recovery.
http://www.reuters.com/article/ousivMolt/idUSTRE5894YV20090910?sp=true

Cleaner44
09-10-2009, 05:40 PM
September 10, 2009

Geithner Sees 'Long Way to Go' for Recovery
A year after the peak of the financial crisis, the U.S. economy is no longer on the brink of disaster, Treasury Secretary Timothy Geithner said Thursday, but it still has a "long way to go" to recover.
http://online.wsj.com/article/SB125260323591700207.html?mod=googlenews_wsj

Cleaner44
09-10-2009, 05:44 PM
September 10, 2009

White House Says Stimulus Has Saved 1.1 Million Jobs
President Barack Obama’s $787 billion fiscal stimulus program has created or saved as many as 1.1 million jobs since its implementation in February, the White House said today.

The stimulus added 2.3 percentage points to gross domestic product in the second quarter, the Obama administration said today in its first quarterly report to lawmakers in Washington on the economic impact of the program. The White House said it expects the stimulus to add up to 3 percentage points to growth in July through September...

...The world’s largest economy contracted 1 percent from April through June, according to the Commerce Department. The drop was the fourth in a row, making it the longest contraction since quarterly records began in 1947.

“The economy is obviously still far from healthy,” the CEA said in today’s report. Economists surveyed by Bloomberg News forecast growth of 2.2 percent for the current quarter.

The Federal Reserve yesterday said 11 of its 12 regional banks reported signs of a stable or improving economy in July and August.

The labor market “remained weak across all districts,” while some regions reported an “uptick in temporary hiring and a decline in the pace of layoffs,” the Fed said in its Beige Book business survey, published two weeks before officials meet to set monetary policy.
http://www.bloomberg.com/apps/news?pid=20601103&sid=ao9EzEN0iLrE

Cleaner44
09-11-2009, 06:30 PM
September 11, 2009

U.S. econ recovery to be vigorous despite consensus
A weekly gauge of future U.S. economic growth hit a year-high in the latest week, sending its yearly growth rate to an all-time high that points to a more vigorous recovery than consensus has shown...

..."We expect non-manufacturing employment -- which is where 91 percent of us work -- to be positive by year end," Achuthan said.

"We are talking about recovery that includes jobs growth in the non-manufacturing sector, and we are talking about a recovery that includes increases in consumer spending. So, in spite of the fact that many people look at this recession as being unprecedented and unlike any other, what we're seeing in our indexes is that there are a lot of similarities to previous recessions and recoveries," he added.

This week's index was pushed higher largely to stronger housing activity, according to ECRI. (Reporting by Camille Drummond, Editing by Chizu Nomiyama)
http://www.reuters.com/article/bondsNews/idUSNYS00540420090911

Cleaner44
09-11-2009, 06:32 PM
September 11, 2009

Risks Remain on Road to Recovery, Economists Say
Economists in the latest Wall Street Journal forecasting survey mostly give the government solid marks for its handling of the financial crisis, saying the economy should begin adding jobs over the next 12 months. But they expect the unemployment rate won't peak until next year, indicating the pain for average Americans is hardly over...

...The weakness in the job market is expected to keep the Federal Reserve in neutral for the near future. On average, the economists don't expect the central bank to raise the key federal funds rate from the current 0%-0.25% range until August 2010. Before Fed officials act, said Jim Meil of Eaton Corp., "they need to know this recovery is the real thing."
http://online.wsj.com/article/SB125261100485400509.html?mod=googlenews_wsj

Cleaner44
09-14-2009, 05:24 PM
September 14, 2009

US FED: Yellen-Recession Ended This Summer; Recovery To Be 'Tepid'
San Francisco Federal Reserve President Janet Yellen said today that while she believes the recession likely ended this summer, recovery will be 'tepid' and 'vulnerable to shocks' going forward as the financial system still 'holds hazards that could derail a fragile economy.'

In comments today in San Francisco, Yellen said that the unemployment rate 'will remain elevated for a few more years' and that it may take 'several years' before the labor market is able to restore itself fully.
http://www.forbes.com/feeds/afx/2009/09/14/afx6883871.html

Cleaner44
09-14-2009, 05:31 PM
September 14, 2009

Ron Paul: Federal government ‘one giant toxic asset’
The US economy has not really recovered from last year’s financial crisis, and the policies of the Federal Reserve, the US’s central bank, are ensuring that the suffering will continue much longer than necessary, US House Rep. Ron Paul told CNN on Monday.

“They claim there’s a recovery but the recovery ought to be measured by the people working. True unemployment is now 16 percent, and the people who lost money have not regained the money. The people who lost houses have not gotten their houses back. There is no recovery,” said Paul...

...“I think the Fed has done a wonderful job for Wall Street, but … the average guy lost a lot of money. They [the Fed] come in with more credit, and pump it up and bail out all the big guys getting all these bonuses for all these individuals who should have failed — and they claim there’s a recovery.”

Added Paul: “We need enforcement of contract law … [so] that when you do something dumb, you ought to go bankrupt. We shouldn’t protect these people.

“I don’t think we seem to be recovering,” he continued. “There are more people unemployed all the time. … We’re doing everything wrong, we’re doing what we did in the Depression, we’re doing what the Japanese did in the 1990s, which is propping up bad investment.

“When you prop up bad debt and prop up these prices … it prolongs the agony. I see no good outcome from the policies that we have.”
http://rawstory.com/08/news/2009/09/14/ron-paul-no-recovery/

Cleaner44
09-15-2009, 11:56 AM
September 15, 2009

Bernanke: Despite Recovery, Economy Likely To Feel Weak
U.S. Federal Reserve Chairman Ben Bernanke Tuesday said it's likely the recession has come to an end, but he reiterated that tight credit conditions and a soft labor market will prove to be a challenge.

From a technical point, the "recession is very likely over at this point," Bernanke said in a question-and-answer session at the Brookings Institution.
http://online.wsj.com/article/BT-CO-20090915-708786.html

Stevem
09-15-2009, 12:33 PM
Sounds like 'Newspeak" to me! Goes right along with, "War is peace"

http://en.wikipedia.org/wiki/Doublespeak

Ryanferr
09-15-2009, 12:53 PM
this thread is awesome! Good work.

Cleaner44
09-16-2009, 11:03 PM
September 16, 2009

Volcker Says ‘Long Way to Go’ for Full U.S. Recovery
Paul Volcker, the former Federal Reserve chairman who’s an economic adviser to President Barack Obama, said there’s a “long way to go” before the economy returns to pre-recession levels.

“It will be a long slog -- a matter of years -- with the risk of some relapses along the way,” Volcker said today at a financial conference in Beverly Hills, California. While Volcker said he sees signs that the economy is in the “early stages of recovery,” he also warned that “it is way too soon to resume business as usual.”
http://www.bloomberg.com/apps/news?pid=20601103&sid=a9FIT6a2gei4

Cleaner44
09-16-2009, 11:07 PM
this thread is awesome! Good work.

I am glad that my efforts are appreciated. It would probably be helpful if people rated the thread. A few stars could help others see things... :)

Cleaner44
09-18-2009, 06:10 PM
September 18, 2009

IMF chief sees global recovery in 1st half of 2010
The global economy should recover from recession in the first half of 2010, but it will take time for unemployment levels to decline, International Monetary Fund Managing Director Dominique Strauss-Kahn said.

In a transcript of an interview conducted by an IMF staffer which was published on Friday, Strauss-Kahn said recovery could happen even sooner, citing what he described as good recent economic figures...

...The IMF chief acknowledged that the Fund had not been "as good as we should have been in terms of warning early about the risks of crisis. We're working very hard on this and are reshaping our surveillance to that effect."
http://www.reuters.com/article/gc04/idUSTRE58H4O220090918



August 18, 2009

Recovery begins, but recession leaves scars, IMF says
The global recession is now over and a recovery has begun, Olivier Blanchard, the top economist for the International Monetary Fund, said Tuesday.
http://www.marketwatch.com/story/recovery-begins-but-recession-leaves-scars-imf-2009-08-18

Cleaner44
09-18-2009, 07:38 PM
September 18, 2009

ECRI: 'No relevant roadblocks' to US econ recovery
A weekly gauge of future U.S. economic growth rose to a level last seen one year ago, while its annual growth rate hit a fresh record high, feeding hopes of a recovery immune to looming economic threats.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 126.2 in the week to Sept. 11 from an upwardly revised 126.0 the prior week, a figure ECRI originally reported as 125.4...

...Such a rise in ECRI's WLI growth to a record high "confirms that in the coming months, the economic recovery will surprise a cautious consensus," Achuthan said.
http://www.reuters.com/article/economicNews/idUSNYS00542020090918

Cleaner44
09-21-2009, 09:35 PM
September 21, 2009

F.D.I.C. May Borrow Funds From Banks
Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government.

Senior regulators say they are seriously considering a plan to have the nation’s healthy banks lend billions of dollars to rescue the insurance fund that protects bank depositors. That would enable the fund, which is rapidly running out of money because of a wave of bank failures, to continue to rescue the sickest banks...

...Borrowing from the industry is allowed under an obscure provision of a 1991 law adopted during the savings and loan crisis. The lending banks would receive bonds from the government at an interest rate that would be set by the Treasury secretary and ultimately would be paid by the rest of the industry. The bonds would be listed as an asset on the books of the banks.
http://www.nytimes.com/2009/09/22/business/22bailout.html?hp

Stormdancer
09-21-2009, 09:41 PM
September 21, 2009

F.D.I.C. May Borrow Funds From Banks
Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government.

Senior regulators say they are seriously considering a plan to have the nation’s healthy banks lend billions of dollars to rescue the insurance fund that protects bank depositors. That would enable the fund, which is rapidly running out of money because of a wave of bank failures, to continue to rescue the sickest banks...

...Borrowing from the industry is allowed under an obscure provision of a 1991 law adopted during the savings and loan crisis. The lending banks would receive bonds from the government at an interest rate that would be set by the Treasury secretary and ultimately would be paid by the rest of the industry. The bonds would be listed as an asset on the books of the banks.
http://www.nytimes.com/2009/09/22/business/22bailout.html?hp

man! These guys just keep on turning the screws. Can't find any credit worthy consumers who want to borrow? Bring on the FDIC....the bonds are assets against which more loans can be made...wonder who'll be their next customer? Ahh....maybe the Social Security system......

Mryoga
09-21-2009, 11:25 PM
September 18, 2009

ECRI: 'No relevant roadblocks' to US econ recovery
A weekly gauge of future U.S. economic growth rose to a level last seen one year ago, while its annual growth rate hit a fresh record high, feeding hopes of a recovery immune to looming economic threats.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 126.2 in the week to Sept. 11 from an upwardly revised 126.0 the prior week, a figure ECRI originally reported as 125.4...

...Such a rise in ECRI's WLI growth to a record high "confirms that in the coming months, the economic recovery will surprise a cautious consensus," Achuthan said.
http://www.reuters.com/article/economicNews/idUSNYS00542020090918

And this from May 2009, ECRI says recovery is close at hand.http://www.reuters.com/article/companyNewsAndPR/idUSNYS00503420090501 "With the level of the WLI in an upswing for seven weeks
now, an end to the U.S. recession is now in clear sight," said
Lakshman Achuthan, managing director at ECRI.

Cleaner44
09-22-2009, 06:02 PM
September 21, 2009

Meltdown 101: Leading economic indicators
The Conference Board's leading economic indicators are offering positive signs about the economy's future. They've risen for five months straight — a sign not only that the recession has likely ended, but also that we'll probably see growth continue into next year.

Good news, right? Not so fast.

Some argue that the dramatic steps the government has taken to address the recession have skewed the indicators' ability to tell how much the economy is hurting. Also, the indicators don't tell us when we'll see the key indicator of health for most Americans: new jobs.

So how should we interpret these numbers? Here are some questions and answers about the leading economic indicators, and what they say about the state of the economy.
http://www.google.com/hostednews/ap/article/ALeqM5i8mGgbpEpt6XsVhYqQJavf3O2kqAD9ARU2NG0

Cleaner44
09-22-2009, 06:06 PM
September 22, 2009

U.S. economy at "beginnings" of recovery: Geithner
U.S. Treasury Secretary Timothy Geithner on Tuesday said that the U.S. economy appeared to be picking up steam and G20 leaders gathering in Pittsburgh this week would strive to ensure the recovery was balanced.
http://www.reuters.com/article/ousivMolt/idUSTRE58L38L20090922

Cleaner44
09-24-2009, 10:12 AM
September 24, 2009

Sales of U.S. Existing Homes Unexpectedly Decrease
Sales of existing U.S. homes unexpectedly fell in August for the first time in four months, signaling the housing recovery will be slow to gain speed.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXe9QqyAM40s

Cleaner44
09-24-2009, 10:20 AM
September 24, 2009

Treasury says US economic recovery just beginning
The nation's economic recovery has just begun and "we still have work to do," a senior Treasury official told Congress on Thursday, the strongest signal yet that the administration is prepared to extend its $700 billion bank bailout fund.

Herbert Allison, the department's assistant secretary for financial stability, cited declining prices in commercial real estate that could continue to weigh down bank balance sheets as evidence there is a long way to go before a true recovery takes hold...

...According to the administration's latest report on TARP, the Treasury has obligated $443.8 billion from the fund to specific institutions. Banks have paid back the Treasury $70.3 billion of the assistance they received, and they have paid nearly $9.4 billion in dividends and interest payments.
http://www.google.com/hostednews/ap/article/ALeqM5jLb8ppA3yXK4XMNuQYNazJ4QzfmQD9ATOMA00

Cleaner44
09-25-2009, 11:47 PM
September 25, 2009

New Signs That Recovery May Come in Dribs and Drabs
New figures on home sales and manufacturing activity suggested on Friday that economic recovery was likely to occur in fits and starts because of high unemployment, a mercurial stock market and shaky consumer demand.

“It’s not going to be smooth,” said Bernard Baumohl, managing director of the Economic Outlook Group, who is expecting a strong rebound. “We will be moving three steps forward and one step back. But on the whole, I expect this recovery’s going to be moving upward.”
http://www.nytimes.com/2009/09/26/business/economy/26econ.html

Cleaner44
09-25-2009, 11:55 PM
September 25, 2009

U.S. economic recovery is 'far from fragile'-ECRI
A weekly gauge of future U.S. economic growth climbed higher in the latest week, while its yearly growth rate reached a new all-time high, reaffirming projections of a brisk, uninterrupted recovery. The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to a 60-week high of 127.8 in the week to Sept. 18 from an downwardly revised 126.1 the previous week, which was originally reported as 126.2.
http://www.reuters.com/article/bondsNews/idUSNYS00543920090925



September 10, 2009

Economy Still Fragile, Fed Reports
An economic recovery may well have arrived, but a Federal Reserve report released Wednesday shows just how varied it is proving to be among different industries and different regions.

The mixed picture underscores how fragile the economy remains. While growth overall may have resumed, the nation is still vulnerable to new shocks as long as there are such large pockets of weakness...

...The banking sector remains a mess, and consumers and businesses are reluctant to borrow money. "Most Districts reported that loan demand was weak and that credit standards remained tight," the beige book says. The commercial real estate sector also remains in rough shape. Industry officials indicated that "demand for space remained weak and that construction continued to decline in all Districts." The Richmond Fed, whose district includes the Washington area, noted that "some landlords had postponed property improvements in an effort to conserve cash."

The mixed assessment is consistent with economic data of late.

"The beige book read like a pretty cautious assessment of the economic recovery to this point," said Peter Hooper, chief economist at Deutsche Bank Securities. The expansion that he and other economists believe is underway is driven more by temporary factors than hard evidence of the kind of underlying trends that will "ultimately be needed to sustain a recovery."
http://www.washingtonpost.com/wp-dyn/content/article/2009/09/09/AR2009090902003.html?hpid=topnews

Cleaner44
09-25-2009, 11:58 PM
September 25, 2009

Housing recovery still fragile
Sales of new U.S. homes inched up just 0.7 percent in August compared with July, to a seasonally adjusted annual rate of 429,000, the Commerce Department said today.

Economists had expected a pace of 440,000.
http://economy.kansascity.com/?q=node/4022

Cleaner44
09-29-2009, 03:51 PM
September 29, 2009

FDIC Proposes Banks Prepay Deposit Fees Through 2012
The Federal Deposit Insurance Corp. proposed asking banks to prepay three years of premiums to replenish reserves dented by a rash of bank failures that the agency said will cost $100 billion through 2013.

The insurance fund will run a deficit as of tomorrow after 120 banks failed in the past two years, the agency said today. Half the costs from seized banks have been incurred already and prepaying the fees will raise $45 billion, the FDIC said. The agency rejected options for a second special fee or borrowing from the Treasury Department...

...The agency has authority to borrow against a Treasury line of credit that Congress in May increased to $100 billion. This option would have put the FDIC in the position of borrowing from taxpayers in the wake of public anger over the bank bailout.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aidlDq7Z4Yyk

Cleaner44
09-29-2009, 03:56 PM
September 29, 2009

NY Fed's Cumming: U.S. recovery likely to be sluggish
Recent data has suggested the U.S. recession may be coming to an end but the recovery will likely be sluggish and risks remain, a senior Federal Reserve official said on Tuesday.

"It appears that we are at the bottom of the recession, but it seems it won't be the easiest and snappiest recovery ahead of us," Christine Cumming, first vice president of the Federal Reserve Bank of New York, said in a lecture at Eastern Connecticut State University.

Cumming, the New York Fed's number 2 official, said the U.S. recession -- which began in December 2007 -- has been the deepest and will likely be the longest since World War II.
http://www.reuters.com/article/GCA-Economy/idUSTRE58S43420090929

Cleaner44
09-30-2009, 11:41 AM
September 30, 2009

Mixed Data Reflect Fragility of Economic Recovery
Home prices rose once again in July, but a drop in consumer confidence in September underscored the fragile state of the economy's recovery.
http://online.wsj.com/article/SB125422914801649093.html?mod=WSJ_hpp_sections_rea lestate

Ponce
09-30-2009, 08:43 PM
Read today that one out of eight houses will be a loss........however.... why can't they pay for their houses? simple..........no jobs, and why are there no jobs.......simple, we can create (or hold) X ammount of jobs for internal consumption.........and the rest of the jobs??? export.

"No Export = No Recovery"... Ponce ....................WAKE UP

Everyone ignores the elephant in the living room or cannot see the forest because of the three.

I just don't get it, honest.......if a dumb Cuban refugee like me can see it then why not those with a coat and tie and a PhD or a Dr before their names?

Cleaner44
10-01-2009, 11:52 AM
October 1, 2009

Jobless claims report is setback to recovery
The number of first-time filers for unemployment insurance jumped last week, according to a government report issued Thursday, with the increase exceeding economists' forecasts.

There were 551,000 initial jobless claims filed in the week ended Sept. 26, up 17,000 from an upwardly revised 534,000 the previous week, the Labor Department said in a weekly report.
http://money.cnn.com/2009/10/01/news/economy/initial_jobless_claims/?postversion=2009100110

Carpenter
10-01-2009, 12:08 PM
MSNBC is citing those numbers as a reason for todays selloff on Wall Street.
I thought it was a lagging indicator.:rolleyes:

Cleaner44
10-02-2009, 02:25 PM
October 2, 2009

U.S. Economy: September Job Losses Exceed Forecast
U.S. job losses accelerated last month and the unemployment rate climbed to the highest level since 1983, stark reminders of how the worst financial crisis in more than seven decades may undermine consumer spending and economic growth in the months ahead.

Today’s Labor Department figures underscore forecasts for the Federal Reserve to keep its benchmark interest rate near zero through next year, and may spark calls for stronger government efforts to shore up jobs. The dollar tumbled against the yen and euro, while stocks slid before recouping gains.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a1KG0mykNjZ8

Cleaner44
10-02-2009, 02:28 PM
October 2, 2009

U.S. Job Losses May Be Even Larger as Labor’s Model Breaks Down
The U.S. economic slump earlier this year was so severe it short-circuited the government’s model for calculating payrolls, raising the risk that today’s jobs report may be too optimistic.

About 824,000 more jobs may be subtracted from the payroll count for the 12 months through last March when the figures are officially revised early next year, a Labor Department report showed today. The revision would be the biggest since the government started adjusting the numbers in 1991...

...“This birth/death model is still assuming that we are getting new jobs from new-business creations,” David Rosenberg, chief economist at Gluskin Sheff & Associates Inc. in Toronto, said in an interview.

“These additions are coming somewhere from ‘Alice in Wonderland,’” he said, referring to the novel by Lewis Carroll detailing the adventures of a girl that fell down a rabbit hole into a fantasy world.

“Even though the current data is bad, the numbers are actually even worse,” Rosenberg said.
http://www.bloomberg.com/apps/news?pid=20601103&sid=aXoQJ14iSlWg

Cleaner44
10-02-2009, 02:31 PM
October 2, 2009

FOREX-US dollar falls after weaker-than-expected jobs data
The U.S. dollar fell against most major currencies Friday after a weaker-than-expected jobs report reinforced expectations U.S. interest rates will stay near zero for some time.
http://www.forbes.com/feeds/reuters/2009/10/02/2009-10-02T184305Z_01_N02529587_RTRIDST_0_MARKETS-FOREX-UPDATE-9.html

Cleaner44
10-02-2009, 02:33 PM
October 2, 2009

U.S. recovery 'unlikely to falter' anytime soon-ECRI
An index of future U.S. economic growth slipped in the latest week, but its yearly growth rate climbed to a new record high, indicating a smooth recovery in the near-term, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index slipped to 127.1 in the week to Sept. 25 from an upwardly revised 127.9 the prior week, which was originally reported as 127.8
http://www.reuters.com/article/marketsNews/idUSNYS00546420091002

Cleaner44
10-05-2009, 06:47 PM
October 5, 2009

TREASURIES-Bonds hold ground, underpinned by weak job market
Treasury debt prices held steady on Monday as a well-received auction and lingering economic concerns mitigated the drag from an improved reading of activity in the U.S. services sector.

A negative perception of the labor market and doubts over the prospects for a robust recovery continued to support government bonds following dismal jobs data last week.

"The fears over the economic situation still predominate," said Kim Rupert, managing director of global fixed income analysis at Action Economics LLC in San Francisco.
http://www.reuters.com/article/bondsNews/idUSN054980720091005

Cleaner44
10-05-2009, 06:51 PM
October 5, 2009

Fed's Dudley sees U.S. economy in weak recovery
The U.S. economy will recover slowly from its worst recession in generations, so inflation will not be a problem for the foreseeable future, New York Federal Reserve President William Dudley said on Monday.

This means the Fed will be able to keep its benchmark interest rate at exceptionally low levels for an "extended period," Dudley said in prepared remarks for delivery at Fordham Law School.

"The recovery will turn out to be moderate by historical standards," he said.
http://www.reuters.com/article/bondsNews/idUSNYS00547220091005

Cleaner44
10-06-2009, 03:19 PM
October 6, 2009

Gold Jumps to Record as Inflation Outlook Fuels Investor Demand
Gold rose to a record on speculation that currencies will depreciate, spurring inflation and boosting the appeal of the precious metal for investors seeking to preserve their wealth.

Gold futures climbed as high as $1,045 an ounce in New York, topping the previous record of $1,033.90 in March 2008. The spot price is headed for a ninth straight annual gain, the longest rally since at least 1948. The dollar fell as much as 0.7 percent against a basket of six major currencies.
http://www.bloomberg.com/apps/news?pid=20601091&sid=a_0KV3_1FIp4

Cleaner44
10-06-2009, 03:30 PM
I have to add my observation that the Federal Reserve sees "The Recovery" as a return of inflation. To them the problem is mainly the contraction of the credit market and they are desparately trying to reinflate the money supply. Recovery to them means restoring the bubble, not seeing people get back to work. The recovery is not about businesses increasing sales or anything else that 98% of the people define recovery as. It is purely a desire to reinflate and then hopefully to maintain. Big banks with lots of capital = recovery.

Cleaner44
10-07-2009, 09:51 PM
October 7, 2009

Fed says banks slow to take commercial losses
The Federal Reserve told bank examiners last month that banks were slow to take losses on their commercial real estate loans that have suffered as property values sink.

The Wall Street Journal initially reported the Fed's concern and Fed sources on Wednesday confirmed a presentation was made on the topic to regulators but described it as a training exercise for examiners about potential real estate issues.
http://www.reuters.com/article/ousivMolt/idUSTRE5963NN20091007

Trader
10-08-2009, 08:28 AM
In case you didnt know about it;
http://newsfrom1930.blogspot.com/

Cleaner44
10-08-2009, 02:45 PM
October 8, 2009

34 banks don't pay their quarterly TARP dividends
The U.S. taxpayers' investments in smaller banks are increasingly at risk.

In a sign that more banks are under great pressure from the recession, 34 financial institutions did not pay their quarterly dividends in August to the Treasury on funds obtained under the Troubled Asset Relief Fund (TARP). The number almost doubled from 19 in May when payments were last made, and also raised questions about Treasury's judgment in approving these banks as "healthy," a necessary step for them to get TARP funding.
http://www.usatoday.com/money/industries/banking/2009-10-07-banks-tarp-dividends_N.htm

Cleaner44
10-08-2009, 02:49 PM
October 8, 2009

FHA Shortfall Seen at $54 Billion May Lead to Bailout
The Federal Housing Administration, which insures mortgages with low down payments, may require a U.S. bailout because of $54 billion more in losses than it can withstand, a former Fannie Mae executive said.

“It appears destined for a taxpayer bailout in the next 24 to 36 months,” consultant Edward Pinto said in testimony prepared for a House committee hearing in Washington today. Pinto was the chief credit officer from 1987 to 1989 for Fannie Mae, the mortgage-finance company that is now government-run.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aOmu318hOZr4

Cleaner44
10-10-2009, 04:08 PM
October 10, 2009

The Great Recession: The numbers tell the story
A year ago this weekend, the Dow Jones industrial average had just finished a slow-motion crash. Over eight days, it fell 2,400 points, or 22 percent, and stood at 8,451....

...Here's a by-the-numbers look at the stock market and the economy since the eight-day crash one year ago:
http://www.google.com/hostednews/ap/article/ALeqM5hLwm50DTgKtUWg7pqsizxZwR41RgD9B8C5R82

Cleaner44
10-12-2009, 10:54 AM
October 12, 2009

Recession may be over, but recovery is painful
More than 80% of top economists believe that the recession that started almost two years ago is finally over. But most don't expect meaningful improvement in jobs, credit or housing for months to come.
http://money.cnn.com/2009/10/12/news/economy/recession_nabe/?postversion=2009101210

Cleaner44
10-13-2009, 03:07 PM
October 13, 2009

Kohn Sees Subdued Recovery, Vows Vigilance On Inflation
Federal Reserve Vice Chairman Donald Kohn said Tuesday he expects the U.S. economic recovery to be subdued, with sluggish growth keeping inflation at bay.

"I don't think a V-shaped recovery is the most likely outcome this time around," Kohn cautioned in a speech at the National Association for Business Economics annual meeting here. "All told, I expect that the recovery in U.S. economic activity will proceed at a moderate pace in the second half of this year before strengthening some in 2010."
http://online.wsj.com/article/BT-CO-20091013-711593.html

Cleaner44
10-13-2009, 03:11 PM
October 13, 2009

Recession over, unemployment seen at 10 percent
The worst U.S. recession since the Great Depression has ended, but weak household spending as the labor market struggles to create jobs will slow the pace of the economy's recovery, according to a survey released on Monday.

The survey of 44 professional forecasters released by the National Association for Business Economics, also known as the NABE, found that 80 percent of the respondents believed the economy was growing again after four straight quarters of declines.

"The great recession is over," NABE President-Elect Lynn Reaser said.
http://www.reuters.com/article/domesticNews/idUSTRE59B33T20091013?sp=true

Cleaner44
10-13-2009, 03:15 PM
October 13, 2009

Lawrence Summers says the worst is over
The panic is over.

The worst of the financial crisis is behind us.

But now that that’s the case, economic decision makers need to focus on getting people back to work, Lawrence Summers, a top aide to President Barack Obama, told a group of economists meeting in St. Louis on Monday.
http://www.bostonherald.com/business/general/view/20091013lawrence_summers_says_the_worst_is_over/

silverstasher
10-13-2009, 04:19 PM
October 13, 2009

Lawrence Summers says the worst is over
The panic is over.

The worst of the financial crisis is behind us.

But now that that’s the case, economic decision makers need to focus on getting people back to work, Lawrence Summers, a top aide to President Barack Obama, told a group of economists meeting in St. Louis on Monday.
http://www.bostonherald.com/business/general/view/20091013lawrence_summers_says_the_worst_is_over/

Break out the cupcakes.:rolleyes:

Cleaner44
10-14-2009, 05:48 PM
October 14, 2009

U.S. Fed sees economy in "restrained" recovery
The U.S. Federal Reserve (Fed) policymakers saw the economy is emerging from recession, but the recovery is "restrained" by high unemployment and still tight credit, according to documents released on Wednesday.

Minutes of the Federal Open Market Committee (FOMC), the Fed's monetary policy decision meeting held on Sept. 22-23, showed that Fed Chairman Ben Bernanke and his colleagues saw much more positive signs about the economy's prospects compared with an assessment made in August. Many Fed officials raised their "projection for real GDP growth over the second half of 2009 and over 2010."..

...The Fed said that "with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time."

The central bank said that it will "maintain the target range for the federal funds rate at 0 to 1/4 percent" and to keep the rate at this historical low "for an extended period."
http://news.xinhuanet.com/english/2009-10/15/content_12234388.htm

Cleaner44
10-21-2009, 10:38 AM
October 21, 2009

States Post Widespread Job Losses
U.S. employment opportunities remain bleak as September's regional and state unemployment rates climbed in 23 states and the District of Columbia, the U.S. Labor Department reported Wednesday.
http://online.wsj.com/article/SB125613391710198857.html

Cleaner44
10-22-2009, 08:40 AM
October 22, 2009

Reducing Deficit Key to US Rating: Moody's
The United States, which posted a record deficit in the last fiscal year, may lose its Aaa-rating if it does not reduce the gap to manageable levels in the next 3-4 years, Moody's Investors Service said on Thursday.
http://www.cnbc.com/id/33426521

Cleaner44
10-22-2009, 08:44 AM
October 22, 2009

Jobless claims dent recovery hopes
The number of first-time filers for unemployment insurance rose last week, snapping two weeks of significant declines, according to a government report issued Thursday.

There were 531,000 initial jobless claims filed in the week ended Oct. 17, up 11,000 from an upwardly revised 520,000 the previous week, the Labor Department said in a weekly report. The week included the Columbus Day holiday.

A consensus estimate of economists surveyed by Briefing.com expected 515,000 new claims.
http://money.cnn.com/2009/10/22/news/economy/initial_claims_jobless/?postversion=2009102209

Cleaner44
10-22-2009, 06:21 PM
October 22, 2009

Survey: Lengthy recovery results in pessimism
The stock market's moving up and some economists are declaring an end to the recession. So, why are people still so pessimistic?

A new national survey says the reality has sunk in that true financial recovery for most people won't come soon. As a result, consumers aren't very interested in spending money, they've concluded retirement is even further away and they're increasingly skeptical that Social Security will be there when they need it.

The survey by Sun Life Financial Inc. shows 77 percent of adults between 18 and 66 say they're cutting spending, that's a 10 percent increase from a similar survey completed earlier this year.

Of those cutting spending, nearly eight in ten are spending less on entertainment and eating out, and more than half have put off a home improvement project or buying a car.

What's more, the bad news for retailers is that 60 percent said they will spend less on holiday shopping.

"Americans are looking at all different aspects of their lives and trying to figure out how they can secure a financial future given the economic factors that they're living with," says Julie DiCarlo, a Sun Life Financial spokeswoman.

The survey results are supported by report from the Bureau of Economic Analysis released on Friday that showed the personal savings rate in the second quarter increased to 4.9 percent, up from 3.7 percent in the first quarter.

The recession and stock market collapse of the past year, and its impact on retirement savings has translated into a strikingly more pessimistic mindset.

More than half of those surveyed — 55 percent — said they will still be working at age 67, that's up from 52 percent a year ago. In the recent survey 28 percent said they expect to work full-time past age 67, up from 19 percent a year ago.

And Americans don't have much confidence that the government's going to be there to help. Some 58 percent said they don't believe Social Security will be available when they retire, up from 47 percent in last year's survey.

How much longer do people think they'll have to work? A year ago barely half said they'd have to work at least a year past 67. That rose to 65 percent this year. And more people now predict they'll have to work at least five more years — until at least age 72. With 27 percent saying that now, compared with 24 percent a year ago.

The random telephone survey of 1,451 people between the ages of 18 and 66 was conducted between Aug. 14 and Sept. 14. It has a statistical margin of error of plus or minus 2.5 percent.
http://www.google.com/hostednews/ap/article/ALeqM5hquiJtZqy7Y9VXCJ5JNEm2yaGcagD9BG7HS80

Praxis
10-23-2009, 03:35 AM
Thanks to You, Cleaner, for keeping up with this. It is a service!

hugo mandeville
10-23-2009, 05:05 AM
October 22, 2009

Survey: Lengthy recovery results in pessimism
The stock market's moving up and some economists are declaring an end to the recession. So, why are people still so pessimistic?

A new national survey says the reality has sunk in that true financial recovery for most people won't come soon. As a result, consumers aren't very interested in spending money, they've concluded retirement is even further away and they're increasingly skeptical that Social Security will be there when they need it.

The survey by Sun Life Financial Inc. shows 77 percent of adults between 18 and 66 say they're cutting spending, that's a 10 percent increase from a similar survey completed earlier this year.

Of those cutting spending, nearly eight in ten are spending less on entertainment and eating out, and more than half have put off a home improvement project or buying a car.

What's more, the bad news for retailers is that 60 percent said they will spend less on holiday shopping.

"Americans are looking at all different aspects of their lives and trying to figure out how they can secure a financial future given the economic factors that they're living with," says Julie DiCarlo, a Sun Life Financial spokeswoman.

The survey results are supported by report from the Bureau of Economic Analysis released on Friday that showed the personal savings rate in the second quarter increased to 4.9 percent, up from 3.7 percent in the first quarter.

The recession and stock market collapse of the past year, and its impact on retirement savings has translated into a strikingly more pessimistic mindset.

More than half of those surveyed — 55 percent — said they will still be working at age 67, that's up from 52 percent a year ago. In the recent survey 28 percent said they expect to work full-time past age 67, up from 19 percent a year ago.

And Americans don't have much confidence that the government's going to be there to help. Some 58 percent said they don't believe Social Security will be available when they retire, up from 47 percent in last year's survey.

How much longer do people think they'll have to work? A year ago barely half said they'd have to work at least a year past 67. That rose to 65 percent this year. And more people now predict they'll have to work at least five more years — until at least age 72. With 27 percent saying that now, compared with 24 percent a year ago.

The random telephone survey of 1,451 people between the ages of 18 and 66 was conducted between Aug. 14 and Sept. 14. It has a statistical margin of error of plus or minus 2.5 percent.
http://www.google.com/hostednews/ap/article/ALeqM5hquiJtZqy7Y9VXCJ5JNEm2yaGcagD9BG7HS80

that is exactly todays ' " "Spirit of the World".

Cleaner44
10-26-2009, 06:28 PM
October 26, 2009

Economic Reports Point to Bumpy Recovery
Regional economic reports on Monday suggested the U.S. economy has clambered back to levels associated with the end of recession, but recovery will be patchy and may prove fleeting.

Economic activity and manufacturing data for the U.S. Mid West and Texas hinted the impact of the global financial crisis is slowly abating as the economy emerges from the longest recession in 70 years.

However, an index of national economic activity slipped on a monthly basis and a Texas manufacturing output index fell.

"Those kind of reports tend to support the argument that this recovery will be more uneven and less V-shaped, but with the caveat that these are somewhat narrow regional surveys," said Kevin Flanagan, fixed-income strategist for global wealth management with Morgan Stanley in Purchase, New York.
http://abcnews.go.com/Business/wireStory?id=8918916

Cleaner44
10-26-2009, 06:32 PM
October 26, 2009

Survey: Hiring, spending pickup seen in next 6 mos
Results from a new economic survey may ease concerns about rising unemployment and its effect on consumer spending, as forecasters say more employers appear willing to hire in the coming months.

The latest quarterly survey from the National Association for Business Economics, set for release on Monday, shows that unemployment is moderating. It also signals an improved hiring outlook over the next six months, which may help alleviate worries that the nation's unemployment rate will continue to jump and constrict consumer spending, the main driver of the U.S. economy.
http://www.google.com/hostednews/ap/article/ALeqM5hOxsi8PrpiN_3etuv7DrPm_HlZuQD9BIOGP87

Mryoga
10-26-2009, 06:49 PM
October 22, 2009

Jobless claims dent recovery hopes
The number of first-time filers for unemployment insurance rose last week, snapping two weeks of significant declines, according to a government report issued Thursday.

There were 531,000 initial jobless claims filed in the week ended Oct. 17, up 11,000 from an upwardly revised 520,000 the previous week, the Labor Department said in a weekly report. The week included the Columbus Day holiday.

A consensus estimate of economists surveyed by Briefing.com expected 515,000 new claims.
http://money.cnn.com/2009/10/22/news/economy/initial_claims_jobless/?postversion=2009102209

I heard this on the radio(NPR), so no link, only hearsay. Their economist talking head said that 531,000 is actually 100,000 less than 6 months ago. So, things are definitely getting better. Meanwhile, I'm screaming at the radio "How long can this go on?":eek:

chancemonky
10-26-2009, 08:26 PM
Is this so called unemployment recovery a success.

With the United States House of Representatives shamefully succeeding in dragging out and prolonging HR 3548 we will continue to see an extremely large increase in unemployment.

All part of the big plan.

What's much much more important right now is that everyone takes their swine vaccine immediately, like asap. We're in a State of Emergency, take your viral virus protection shot asap. Don't worry about wearing a bio suit, oxygen mask and gloves. It's not that much of an emergency, but enough of an emergency for our government to insist on sticking you with some viral virus swine flu vaccine substance asap.

Job recovery will start just as soon as you take your swine substance shot.

Let's just face it, USA civilian unemployment is being blocked out. Being blocked out and sold out. Being blocked out by main stream media. Being blocked in exchange for ridiculous amounts of miss-information. Being blocked out by our Government & by our Federal Reserve.

Truth be told, unemployment is not going to be making any form of a recovery at all for a very long long time.

Short term corrupt corporate profits will continue to rule the law here and the US Congressional Senate will continue to insure us of this.

Prepare for the worst,
God bless America

All statements above are explicitly my own humble opinion.
I'm a realist. :D :D

Cleaner44
10-27-2009, 11:00 AM
October 27, 2009

Consumers: Current economy at 26-year low
A key measure of consumer confidence continued to slip in October, with consumers' gauge of the current economic situation falling to a 26-year low, a research group said Tuesday.

The Conference Board, the New York-based research group said its Consumer Confidence Index fell to 47.7 in October from an upwardly revised 53.4 in September.

Economists were expecting the index to increase to 53.5, according to a Briefing.com consensus survey. The figure, which is based on a survey of 5,000 U.S. households, is closely watched because consumer spending makes up two-thirds of the nation's economic activity...

...Economists predict GDP, the broadest measure of economic activity, rose at an annual rate of 3.2% in the third quarter of this year after a 0.7% drop in the second quarter. The government will release its advance third-quarter GDP report Thursday.
http://money.cnn.com/2009/10/27/news/economy/consumer_confidence/?postversion=2009102711

PrincessDidee
10-27-2009, 01:09 PM
the 1970's carter recession saw the fed acting by injecting 13% more fiat into the economy in order to stabilize and stimulate, then later in order to ring that additional fiat out of the rapidly inflating economy paul volker fed chair ramped up interest rates to 20%. now today we have seen a similar action by fed over the past year, though this time they have injected 120% more fiat into the economy in order to stabilize banks and stimulate ( excepting they really would prefer that the banks not lend anything at this time) because they are going to have to wrestle with inflation once again. in order to wring out inflation, question is this time, how are they going to do it without a whip saw of the economic system. if the rates climbed in the 1970's early 80s to 20%, how high must rates go this time in order to do the same. my calculated guess is in the neighborhood of 200%. if this is to come along, we will be in i supposed what is referred to as hyper inflation. it is at this time i would guess that the world banksters will now have american republic and its people where they have dreamed of for over 50 years. this kind of scenario will give world banksters the leverage they need to bring american freedom and republican capitalism to its knees. having lived thru this playbook on fractional reserve banking in the 1970's is it a foolish measure to prepare now for the worst inasmuch as it would seem that the Lord has provided additional time for preparations.

Cleaner44
10-29-2009, 10:39 PM
October 29, 2009

A Recovery at Last
Yesterday's report of 3.5% growth in the third quarter confirmed what stock and credit markets have been signaling for weeks: The recession finally ended during the summer. Investors promptly bid up stocks after some jittery days, and we join in the relief that the worst is over and the risks of a deflation have passed. The question going forward is whether this recovery from a deep and unusual recession can turn into a durable expansion.
http://online.wsj.com/article/SB10001424052748703363704574503612183545516.html

Cleaner44
10-29-2009, 10:43 PM
October 29, 2009

Economy growing but recovery could be at risk
Fueled by government stimulus, the economy grew last quarter for the first time in more than a year. The question now is, can the recovery last?

Federal support for spending on cars and homes drove the economy up 3.5 percent from July through September. But the government aid — from tax credits for home buyers to rebates for auto purchases — is only temporary. Consumer spending, which normally drives recoveries, is likely to weaken without it.
http://www.google.com/hostednews/ap/article/ALeqM5gNiyJ905Ho0Ur96V2TQhsBX19lGwD9BKSM080

Cleaner44
10-29-2009, 10:46 PM
October 29, 2009

STIMULUS WATCH: Stimulus jobs overstated in report
The White House is promising that new figures being released Friday will be a more accurate showing of progress in President Barack Obama's economic recovery plan. It aggressively defended an earlier, faulty count that overstated by thousands the jobs created or saved so far.

Ed DeSeve, serving as Obama's stimulus overseer, said the administration has been working for weeks to correct mistakes in early counts that identified more than 30,000 jobs paid for with stimulus money. He said a new stimulus report Friday should correct many mistakes an Associated Press review found that showed the earlier report overstated thousands of stimulus jobs.
http://www.google.com/hostednews/ap/article/ALeqM5jMNoef6xDenBbHWO0Im6rIjDmAgAD9BL1D800

Cleaner44
10-29-2009, 10:53 PM
October 29, 2009

Mixed Data Show Recovery's Rocky Path
New-home sales fell but orders for durable goods rose in September, according to two government reports released Wednesday that show the economy remains on a wobbly path upward.

Sales of new homes fell 3.6% in September as the effect of the federal government's tax credit for first-time home buyers faded, the Commerce Department said Wednesday. A separate Commerce report showed that orders for big-ticket items such as cars and washing machines increased 1% in September and that a key measure of business spending rose, suggesting consumer demand and business confidence are inching back.
http://online.wsj.com/article/SB125673286433612857.html?mod=WSJ_hpp_sections_rea lestate

Cleaner44
10-29-2009, 10:57 PM
October 29, 2009

Geithner Says Commercial Real Estate Woes Won’t Spark Crisis
U.S. Treasury Secretary Timothy Geithner said commercial real estate woes won’t set off a new banking crisis, in remarks to the Economic Club of Chicago.

“I don’t think so,” Geithner said, when asked whether commercial real estate could set off another banking meltdown. “That’s a problem the economy can manage through even though it’s going to be still exceptionally difficult.”

The global economy has accelerated since the worst of the recession and banking crisis last year, Geithner said, noting a U.S. Commerce Department report today showing the economy expanded 3.5 percent in the third quarter.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGGKUQhUZqaQ

Cleaner44
10-29-2009, 11:00 PM
October 29, 2009

GDP rises, but expert says recovery still needs help
It's too soon to break out the party favors, but go ahead and put away the Kleenex: Gross domestic product is up for the first time in more than a year, meaning the longest recession in U.S. history may finally be drawing to an end.

Though a sustained recovery is far from assured, Uncle Sam deserves a thank you for what is a "first step" toward better days, said Gus Faucher, director of macroeconomics for Moody's Economy.com in West Chester.
http://www.philly.com/inquirer/breaking/business_breaking/20091029_GDP_rises__but_expert_says_recovery_still _needs_help.html

Cleaner44
10-30-2009, 02:35 PM
October 30, 2009

Consumer spending retreats after clunkers program ends
U.S. consumer spending fell sharply in September after the government's cash-for-clunkers program expired, while after-tax incomes dropped for the fourth month in a row, the Commerce Department estimated Friday.

On a real (inflation-adjusted) basis, consumer spending sank a seasonally adjusted 0.6% in September, a reversal from the 1% gain seen during in August, the government's data showed. It was the largest decline in spending since December.
http://www.marketwatch.com/story/consumer-spending-retreats-after-clunkers-ends-2009-10-30

Cleaner44
10-30-2009, 02:40 PM
October 30, 2009

U.S. October auto sales seen up, but no sign of recovery
U.S. auto sales in October are expected to provide more evidence that the worst of the industry's four-year downturn has passed, while leaving open doubts about the speed and strength of the recovery.

Analysts and executives expect U.S. auto sales will be above 10 million vehicles on the annualized basis tracked by the industry.

That would mark the strongest result of the year with the exception of July and August, when car sales got a short-lived boost from the U.S. government's "Cash for Clunkers" trade-in incentives.
http://www.reuters.com/article/GCA-Autos/idUSTRE59T3GA20091030

chancemonky
10-30-2009, 04:36 PM
Here's some breaking news about our recovery, this is a must see.

http://www.msnbc.msn.com/id/21134540/vp/33550264#33550264

Here's the news article.

http://www.msnbc.msn.com/id/33546194/ns/politics-washington_post/

Cleaner44
11-01-2009, 08:27 PM
October 31, 2009

Nine U.S. banks seized in largest one-day haul
U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans.

The move brought the total number of failed banks in 2009 to 115 -- their highest annual level since 1992 -- with analysts expecting more to come. Among the lenders seized Friday was Los Angeles-based California National Bank, in what was the fourth-largest U.S. bank failure this year.
http://news.yahoo.com/s/nm/20091031/ts_nm/us_usbancorp

Cleaner44
11-01-2009, 08:28 PM
November 1, 2009

CIT Files Bankruptcy; U.S. Unlikely to Recoup Money
CIT Group Inc., a 101-year-old commercial lender, filed for bankruptcy to cut $10 billion in debt after the credit crunch dried up its funding and a U.S. bailout and debt exchange offer failed.

CIT listed $71 billion in assets and $64.9 billion in debt in a Chapter 11 filing in U.S. Bankruptcy Court in Manhattan. The U.S. Treasury Department said the government probably won’t recover much, if any, of the $2.3 billion in taxpayer money that went to CIT.
http://www.bloomberg.com/apps/news?pid=20601103&sid=a3.t_GrxbL2U

Cleaner44
11-01-2009, 08:29 PM
November 1, 2009

Geithner Urges Banks to Resume Lending, Help Recovery
U.S. Treasury Secretary Timothy Geithner said the country’s economic recovery and job creation hinge on banks taking more risk and restoring the flow of credit to businesses.

“The big risk we face now is that banks are going to overcorrect and not take enough risk,” Geithner said in an interview today on NBC’s “Meet the Press” program. “We need them to take a chance again on the American economy. That’s going to be important to recovery.”
http://www.bloomberg.com/apps/news?pid=20601068&sid=aBG6IqPjtD1k

Cleaner44
11-01-2009, 08:35 PM
November 1, 2009

Geithner: 'Choppy' U.S. recovery under way
A "choppy" and "uneven" U.S. economic recovery is under way, Treasury Secretary Timothy Geithner said Sunday.

Appearing on NBC's "Meet the Press," Geithner said encouraging economic signs are emerging, but warned a recovery "could be a little choppy, it could be uneven, and it's going to take a while."
http://www.upi.com/Top_News/US/2009/11/01/Geithner-Choppy-US-recovery-under-way/UPI-88061257109349/

Cleaner44
11-01-2009, 08:40 PM
November 1, 2009

Obama Says New Data Shows Economy Recovering
President Barack Obama said on Saturday this week's positive job and economic growth figures proved that his big spending efforts to stimulate the economy were working.

But he cautioned in his weekly radio address to Americans that "we have a long way to go before we return to prosperity" and more job losses were likely in coming days.
http://abcnews.go.com/Business/wireStory?id=8967190

HardlyPeeved
11-01-2009, 08:55 PM
I see statements that are attempting to re-define what "good" is in the economy and "prosperity".

Its like they know things are going to really be very bad, so they are trying to spin it like so they can blow sunshine up our rears.

sham, shuck, and jive.

7867

Cleaner44
11-02-2009, 05:02 PM
November 2, 2009

President Obama Warns of Future Job Loss, “We are just not where we need to be yet”
“We are just not where we need to be yet,” said President Obama in kicking off today’s meeting of the President’s Economic Recovery Advisory Board (PERAB), “We have got a long way to go.”

The President cited recent positive news such as last Thursday’s GDP numbers, which showed the country’s economy growing for the first time in more than a year. However, he also mentioned that production levels continue to be “significantly below peak levels” and, most distressingly, he said, job growth continues to lag.

“We anticipate that we’re going to continue to see some job losses in the weeks and months to come,” the President warned twice during the top portion of his meeting.
http://blogs.abcnews.com/politicalpunch/2009/11/president-obama-warns-of-future-job-loss-we-are-just-not-where-we-need-to-be-yet-.html

Cleaner44
11-06-2009, 12:39 PM
November 6, 2009

U.S. Unemployment Rate Hits 10.2%, Highest in 26 Years
For Americans who wake up each morning thinking about their job hunt, Friday’s unemployment report offered little reassurance that their search would soon pay off, even as the broader economy showed signs of strengthening.

The United States economy shed 190,000 jobs in October, and the unemployment rate reached a 26-year high of 10.2 percent, up from 9.8 percent in September, the Department of Labor said Friday in its monthly economic appraisal.
http://www.nytimes.com/2009/11/07/business/economy/07jobs.html

Cleaner44
11-06-2009, 12:43 PM
November 6, 2009

Gold Jumps to Record Above $1,100 on U.S. Interest-Rate Outlook
Gold futures jumped to a record, topping $1,100 an ounce, on mounting speculation that low U.S. borrowing costs will drive the dollar lower, boosting the appeal of the precious metal as an alternative investment.

The metal reached $1,101.90 in New York, heading for a ninth straight annual gain. The dollar is down 6.9 percent this year against a basket of six major currencies as the Federal Reserve keeps its benchmark interest rate at zero to 0.25 percent to revive economic growth.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNhLqiexpaas&pos=2

Cleaner44
11-06-2009, 01:00 PM
November 6, 2009

Fannie Mae Posts Big 3Q Loss; Asks Treasury for More Money
Citing 22.0 billion of credit-related expenses, Fannie Mae Thursday night announced it lost a net $18.9 billion in the third quarter of 2009. Losses in the second quarter totaled $14.8 billion and $30 billion in the third quarter of 2009.
http://www.mortgagenewsdaily.com/11062009_fannie_mae_posts_big_3q_loss_asks_treasur y_for_more_money.asp

Cleaner44
11-06-2009, 01:03 PM
November 6, 2009

ECRI US economic growth index climbs to 4-week high
A weekly measure of future U.S. economic growth rose to a four-week high in the latest week while its yearly growth rate edged lower, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index ticked up to 128.8 in the week to Oct. 30, from a revised 128.3 the previous week, which the group originally reported as 128.4.
http://www.reuters.com/article/economicNews/idUSNYS00750720091106

Cleaner44
11-06-2009, 01:06 PM
November 6, 2009

US FDIC to meet Nov. 12 to finalize bank fee plan
U.S. regulators will meet Nov. 12 to finalize their proposal to have banks prepay three years of industry assessments, which would give the government cash to handle the rising tide of bank failures.

The Federal Deposit Insurance Corp, which posted the meeting agenda on its website on Friday, has proposed collecting a lump sum of about $45 billion as an alternative to levying another hefty emergency fee on the industry.
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0613776720091106

Cleaner44
11-06-2009, 05:28 PM
November 6, 2009

U.S. Consumer Credit Fell in September, Eighth Drop
U.S. consumer credit fell in September for an eighth straight month, the longest series of declines on record, as thousands of Americans lost their jobs and banks tightened access to loans.

Borrowing fell more than economists predicted, declining by $14.8 billion, or 7.2 percent at an annual rate, to $2.46 trillion, according to a Federal Reserve report released today in Washington. Credit dropped by $9.86 billion in August, less than previously estimated. The consecutive declines were the most since records began in 1943.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aBNPBxgUiCjk&pos=2

Cleaner44
05-13-2010, 12:02 PM
Obama's tricky task of delivering economic news during slow recovery

May 13, 2010

President Obama's trip to Buffalo on Thursday highlights one of the central dilemmas for any president presiding over a slow economic recovery: how to balance the good news and the bad news, the continuing misery and the hopeful signs.
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/13/AR2010051301475.html

Cleaner44
05-13-2010, 12:04 PM
U.S. Home Seizures Reach Record as Recovery Delayed

May 13, 2010

U.S. home foreclosures climbed to a record in April, a sign that government mortgage relief efforts have yet to turn the tide of property seizures, according to a report by RealtyTrac Inc.

“Right now it appears that the banks are focusing on processing the loans already in foreclosure, and slowing down the initiation of new foreclosure proceedings as a way of managing inventory levels,” Rick Sharga, RealtyTrac’s executive vice president, said in an e-mail. “We’ll probably see this trend continue for a while.”

Bank repossessions rose to 92,432 in April, up 45 percent from a year earlier, Irvine, California-based RealtyTrac said today in a statement. Foreclosure filings, including default and auction notices, fell 2 percent to 333,837. One out of every 387 households received a filing.
http://www.businessweek.com/news/2010-05-13/u-s-home-seizures-reach-record-as-recovery-delayed-update1-.html

gold skool
05-13-2010, 05:04 PM
I have always stated that we will have a 'double dip' and that the second dip will be far worse than the first, i.e. a DEPRESSION

All of my friends cannot stand it when I bring that up; they hate the thought of it, and so do I ......................

DenariiForMe
05-13-2010, 06:09 PM
http://allianceqblog.qaaqblogs.com/wp-content/uploads/2009/04/head-in-sand.bmp

Cleaner44
05-20-2010, 11:57 AM
Jobless Claims Increase

May 20, 2010
In a troubling sign for the U.S. labor market, the number of workers filing new claims for unemployment benefits unexpectedly surged last week to wipe out most of the recent declines.

Separately, sharply lower building permits caused the index of leading economic indicators to fall in April for the first time since March 2009.

The Labor Department said in its weekly report Thursday that initial claims for jobless benefits rose by 25,000 to 471,000 in the week ended May 15. Economists who were surveyed by Dow Jones Newswires had predicted claims would fall by 4,000.

The previous week's level was revised upward as well, to 446,000 from 444,000.

The Labor Department's report on Thursday showed that the four-week moving average, which aims to smooth volatility in the data to help paint a better picture of the underlying trend, increased for the week ended May 15. The four-week moving average went up by 3,000 to 453,500 from the previous week's unrevised average of 450,500...
http://online.wsj.com/article/SB10001424052748703559004575256112299027150.html?m od=WSJ_hps_LEFTWhatsNews

Cleaner44
05-20-2010, 12:01 PM
U.S. Economy: Leading Indicators Drop in Sign Recovery to Cool

May 20, 2010
The index of U.S. leading economic indicators unexpectedly declined in April, a sign the economic expansion may cool in the second half of the year.
http://www.businessweek.com/news/2010-05-20/u-s-economy-leading-indicators-drop-in-sign-recovery-to-cool.html

Cleaner44
05-20-2010, 12:03 PM
Fed says Europe crisis threatens US economy, banks

May 20, 2010
Europe's debt crisis poses a risk to the U.S. economic recovery, both through financial market stresses and damage to international trade, Federal Reserve Board Governor Daniel Tarullo will say on Thursday.
http://www.reuters.com/article/idUSWBT01393420100520?type=marketsNews

Seraphim
05-20-2010, 12:07 PM
i keep saying the same thing and i am losing my friends and family because i try to help them understand for their own good. but they all hate it and would rather talk about mainstream gossip bullshwaa and petty meaningless nothing.

the problem is that people are creatures of habit and most cannot visualize life any other way then they have known it. they are absolutely terrified to leave their comfort zone. they dont understand how many things our quality of life is dependent on, and how these variables are on the brink...

and that is plain ignorance.

not because they just dont know. but because they dont WANT to even hear it and have no desire to hear anything that doesnt sound appealing... they swear life is going to continue on the same no change its just a market cycle everythings gonna be fine blah blah

in reality i believe most of our quality of life is going to hit rewind for a few years as a result of the worsening depression...

don't get torn up about it. Friends...forget em if they put you down or/and act dumb. Family i can see the stress about it...but people are morons. straight up: delusional twitts. When you are able to buy up a solid company for pennies on the dollar with your PM's and they line up to you for jobs you will have your redemption. Or you're the one just having no problems eating and housing urself. either way, you win. brains over brawn; information over propaganda.

Cleaner44
06-01-2010, 11:26 AM
Problem bank list hits 775

May 20, 2010
NEW YORK (CNNMoney.com) -- The government's list of troubled banks climbed to its highest level since 1992 in the first quarter, although the pace of growth moderated, according to a government report published Thursday.

The numbers, published as part of a broader survey on the nation's banking system by the Federal Deposit Insurance Corporation, revealed that the number of banks at risk of failing climbed to 775 during the first quarter.

That figure stood at 702 in the fourth quarter of 2009. A year ago, the number of banks on the FDIC's watch list was 305. Loan losses, particularly in areas like commercial real estate, have hit many lenders hard.
http://money.cnn.com/2010/05/20/news/companies/fdic_list/

graehaven
06-02-2010, 11:38 AM
OMG, you post like a madman! :D

jayjay
06-02-2010, 12:28 PM
i keep saying the same thing and i am losing my friends and family because i try to help them understand for their own good. but they all hate it and would rather talk about mainstream gossip bullshwaa and petty meaningless nothing.

the problem is that people are creatures of habit and most cannot visualize life any other way then they have known it. they are absolutely terrified to leave their comfort zone. they dont understand how many things our quality of life is dependent on, and how these variables are on the brink...

and that is plain ignorance.

not because they just dont know. but because they dont WANT to even hear it and have no desire to hear anything that doesnt sound appealing... they swear life is going to continue on the same no change its just a market cycle everythings gonna be fine blah blah

in reality i believe most of our quality of life is going to hit rewind for a few years as a result of the worsening depression...

This is just one of the results of the educational system's failure to educate. To most people born after 1960, history started with their birth, and they have no desire to know anything prior to that. An egocentric attitude doesn't allow for much knowledge.

GoldBullDog
06-03-2010, 10:22 AM
To most people born after 1960, history started with their birth, and they have no desire to know anything prior to that.

You mean things happened before 1966? I thought everything was in black-and-white back then. I've seen the newsreels with my own eyes... :rolleyes:

Cleaner44
06-04-2010, 03:24 PM
June 04, 2010

Duration of Unemployment in U.S. Rises to Record 34.4 Weeks
Unemployed Americans are facing the longest wait on record to find work, a sign faster economic growth is needed to reduce the jobless rate from close to a 26- year high.

The average duration of unemployment jumped to 34.4 weeks in May from 33 weeks the prior month and 16.5 weeks in December 2007, when the recession began, a Labor Department report showed today in Washington. The number of unemployed has almost doubled to 15 million since the start of worst slump since the 1930s...
http://www.businessweek.com/news/2010-06-04/duration-of-unemployment-in-u-s-rises-to-record-34-4-weeks.html

Cleaner44
06-04-2010, 03:30 PM
June 4, 2010

Hiring weak in May except for Census workers, U.S. says
Nonfarm payrolls grew by a seasonally adjusted 431,000 in May, but virtually all the new jobs were temporary jobs at the U.S. Census, leaving private-sector hiring very weak, the Labor Department reported Friday.

Excluding 411,000 temporary Census workers, payrolls rose by 20,000 in May. According to the survey of 400,000 business establishments, private-sector payrolls increased by 41,000, the fifth straight monthly gain.

"A disappointing private payroll number to be sure," said John Ryding and Conrad DeQuadros of RDQ Economics...
http://www.marketwatch.com/story/hiring-weak-in-may-except-for-census-workers-2010-06-04-83100?dist=countdown

Miteysquirrel
06-04-2010, 03:41 PM
Why are census jobs even counted? What a farce, it never ends.

These people must think we are all idiots.

Cleaner44
06-04-2010, 03:47 PM
Why are census jobs even counted? What a farce, it never ends.

These people must think we are all idiots.

Well the stock markets did tank today as a result.

Cleaner44
06-04-2010, 04:00 PM
June 4, 2010

Obama calls May jobs report proof of recovery
President Barack Obama said Friday that the economy's addition of 431,000 jobs in May is another sign that an economic recovery is underway, though he also warned that there are going to be "some ups and downs" in the months ahead.

"The economy's getting stronger by the day," he said. But the recovery is "still in its early stages."

Obama made his remarks during a visit to a commercial truck dealership in Hyattsville, Maryland.

While the addition of 431,000 jobs was the largest monthly gain since March 2000, temporary hiring for the U.S. Census was responsible for 411,000 of the new positions, according to the Labor Department. Private sector employers only added 41,000 jobs.

Economists surveyed by Briefing.com had forecast an overall gain of 500,000 jobs in May...
http://edition.cnn.com/2010/POLITICS/06/04/obama.economy/

graehaven
06-07-2010, 07:06 AM
June 4, 2010

Obama calls May jobs report proof of recovery
President Barack Obama said Friday that the economy's addition of 431,000 jobs in May is another sign that an economic recovery is underway, though he also warned that there are going to be "some ups and downs" in the months ahead.

"The economy's getting stronger by the day," he said. But the recovery is "still in its early stages."

Obama made his remarks during a visit to a commercial truck dealership in Hyattsville, Maryland.

While the addition of 431,000 jobs was the largest monthly gain since March 2000, temporary hiring for the U.S. Census was responsible for 411,000 of the new positions, according to the Labor Department. Private sector employers only added 41,000 jobs.

Economists surveyed by Briefing.com had forecast an overall gain of 500,000 jobs in May...
http://edition.cnn.com/2010/POLITICS/06/04/obama.economy/

I guess the "downs" would be when all the extra Census workers are laid off? :eek: :D

Cleaner44
06-10-2010, 06:56 PM
June 10, 2010

Soros Says `We Have Just Entered Act II' of Crisis
Billionaire investor George Soros said “we have just entered Act II” of the crisis as Europe’s fiscal woes worsen and governments are pressured to curb budget deficits that may push the global economy back into recession.

“The collapse of the financial system as we know it is real, and the crisis is far from over,” Soros said today at a conference in Vienna. “Indeed, we have just entered Act II of the drama.”
http://preview.bloomberg.com/news/2010-06-10/soros-says-we-have-just-entered-act-ii-of-crisis-as-europe-s-woes-spread.html

Cleaner44
06-11-2010, 05:17 PM
June 11, 2010

Less spending by Americans could slow recovery
Americans are pulling back on their spending, a trend that could slow the economic recovery if it continues.

A sharp drop in retail sales revenue for May shows that shoppers remain cautious, and it could lead economists to curtail their expectations for growth.

Analysts cautioned against overreacting to Friday's Commerce Department report. It could signal a return to modest growth after two unusually strong months fueled by tax refunds, rebates for energy-efficient appliances and higher gas prices.

The 1.2 percent plunge in sales revenue was the largest drop in eight months. But excluding three of the most volatile sectors — autos, building materials and gasoline station sales — the figures actually rose one-tenth of a percentage point in May...
http://www.google.com/hostednews/ap/article/ALeqM5gNiyJ905Ho0Ur96V2TQhsBX19lGwD9G9A6200

Cleaner44
06-11-2010, 05:19 PM
June 11, 2010

Fed's Plosser: Sustainable Economic Recovery Is Now Underway
With a sustainable economic recovery now underway, policy makers will soon have to start thinking about pulling back their monetary stimulus to ensure inflation stays low and inflation expectations remain well-anchored, Philadelphia Federal Reserve President Charles Plosser said Friday.

While complete healing from the deepest downturn since the Great Depression will take time, Plosser said the recovery is becoming more "broad based," which should leave the economy to grow by around 3.5% this year and next, somewhat stronger than the underlying trend growth rate of the economy, which he believes to be about 2.75%.

"I believe the economic recovery is on a sustainable path, and I expect further progress even as we unwind the accommodative monetary and fiscal stimulus put in place during the crisis," Plosser said...
http://online.wsj.com/article/BT-CO-20100611-705213.html?mod=WSJ_latestheadlines

eaglevalue
06-11-2010, 07:09 PM
This is just one of the results of the educational system's failure to educate. To most people born after 1960, history started with their birth, and they have no desire to know anything prior to that. An egocentric attitude doesn't allow for much knowledge.

I sometimes think its the goal of the educational system to make the people think 'let the politicians do their thing' and not care about such topics.

Cleaner44
06-15-2010, 04:06 PM
June 14, 2010

Fed's Bullard: strong global recovery under way
A strong global economic recovery -- led by Asia -- is under way, and is unlikely to be thrown off course by European debt woes or the improbable event of the bursting of an asset bubble in China, a top U.S. Federal Reserve official said on Monday.

"While the sovereign debt crisis in Europe is indeed a serious matter, the global recovery at this point looks very strong and seems unlikely to be derailed," said St. Louis Federal Reserve Bank President James Bullard in remarks prepared for delivery to a conference in Tokyo...
http://www.reuters.com/article/idUSTKC00585720100614

minermite
06-15-2010, 04:20 PM
I'm with the spirit of this thread now. I'll look out for all the bollox on my ticker, starting tomorrow.:cool: Bookmark.Bookmark.

Cleaner44
06-15-2010, 06:30 PM
I'm with the spirit of this thread now. I'll look out for all the bollox on my ticker, starting tomorrow.:cool: Bookmark.Bookmark.

These are the Pros and Cons of Keynesians.

Cleaner44
06-18-2010, 02:47 PM
June 18, 2010

California unemployment report fosters doubts on recovery
The addition of 28,300 jobs in May mostly represents temporary census positions, adding to fears that the state's climb out of the recession will take longer than expected.

California added 28,300 jobs to its payrolls in May, but many were temporary government jobs, adding to fears that the economic recovery will be even more sluggish than originally anticipated.

The state added 30,000 federal government jobs in the month, according to the Employment Development Department. Many of them were census jobs. The manufacturing, information and professional and business services sectors also posted slight gains in the month...
http://www.latimes.com/business/la-fi-0619-caljobs-20100619,0,6303878.story

Cleaner44
06-18-2010, 02:52 PM
June 18, 2010

TREASURIES-U.S. debt prices rise on weak economic data
U.S. Treasury prices climbed on Thursday, 30-year bonds adding a full point, after a rise in jobless claims and weaker than expected manufacturing data suggested a fragile economic recovery.

Consumer prices notched their largest decline in nearly 1-1/2 years, suggesting inflation poses little threat to bond holdings.

Weekly Jobless claims rose for the week and the Labor Department revised the previous week's claims number higher. The Philadelphia Federal Reserve Bank reported factory activity in the Mid-Atlantic region June had plummeted -- another positive for safe-haven Treasuries...
http://www.reuters.com/article/idUSN1720177320100617

Carpenter
06-18-2010, 04:00 PM
June 11, 2010
Fed's Plosser: Sustainable Economic Recovery Is Now Underway.

With a sustainable economic recovery now underway, policy makers will soon have to start thinking about pulling back their monetary stimulus to ensure inflation stays low and inflation expectations remain well-anchored, Philadelphia Federal Reserve President Charles Plosser said Friday.




The fed calls for the Coup de grâce to save us from inflation?

At least they have a sense of humor.

Cleaner44
06-23-2010, 04:04 PM
June 23, 2010

Housing market struggles without government aid
Americans showed far less appetite to buy new homes last month after the government stopped offering a homebuyer tax credit. The news signaled a renewed housing slump that threatens the broader economy.

Sales of new homes fell in May to their lowest level on record, plunging 33 percent from the month before. The bleak data followed a report earlier this week that sales of existing homes dipped, too.

The Federal Reserve, mindful of the fragility of the housing market, struck a more cautious tone Wednesday in its read on the economy. It said only that the recovery is "proceeding." It had previously said the rebound was strengthening.

The Fed repeated its pledge to hold interest rates at record lows to fuel economic growth. That has helped keep mortgage rates down, but even ultra-low rates couldn't overcome the chilling effect on new-home sales caused by the end of the tax credits.

The government offered up to $8,000. To qualify, buyers had to sign a contract by April 30...
http://www.google.com/hostednews/ap/article/ALeqM5gNiyJ905Ho0Ur96V2TQhsBX19lGwD9GH6S502

Cleaner44
06-23-2010, 04:07 PM
June 23, 2010

Fed strikes more cautious tone on US recovery
The Federal Reserve struck a more cautious tone about the strength of the U.S. economic recovery, indicating Europe's debt crisis poses a risk to it.

Wrapping up a two-day meeting Wednesday, the Fed in a 9-1 decision retained its pledge to hold rates at record-low levels for an "extended period." Doing so is intended to energize the rebound.

The Fed expressed confidence that the recovery will stay intact despite threats from abroad and at home. But Chairman Ben Bernanke and his colleagues offered a slightly more reserved outlook than the last time they convened.

The Fed said the economic recovery is "proceeding." That was a bit less upbeat than the view at the April meeting when the Fed said economic activity continued to "strengthen." The Fed also said the labor market is "improving gradually."

While not mentioning Europe by name, the Fed said "financial conditions have become less supportive of economic growth ... largely reflecting developments abroad."

The fragile economic picture increases pressure on President Barack Obama and lawmakers in Washington. Near-double-digit unemployment is certain to factor into the way Americans vote in congressional midterm elections this fall. If it fails to come down after that, the jobless rate could play a significant role in the 2012 presidential election...
http://www.google.com/hostednews/ap/article/ALeqM5g_S5cSA_kwYiaPl9e-FmlENxHSxwD9GH740G4

Cleaner44
06-23-2010, 04:10 PM
June 23, 2010

World stocks fall on worries over US recovery
World stock markets fell Wednesday as an unexpected drop in U.S. existing home sales sparked worries over the pace of recovery in the world's largest economy.

A 2.2 percent drop in sales in May suggests the U.S. property market, which was the original epicenter of the global financial crisis, is not healing as quickly as many had hoped and that households remain cautious about the economic outlook.

After losses in Asia, Britain's FTSE 100 fell 0.5 percent to 5,221.78 and Germany's DAX lost 0.4 percent to 6,247.25. France's CAC-40 shed 0.6 percent to 3,683.25.

Wall Street was expected to recover only a fraction of the previous day's losses at the open later. Dow futures were up 0.3 percent at 10,264 after the index slumped 1.4 percent on Tuesday. Standard & Poor's 500 futures were up 0.1 percent at 1,091.80.

Besides the weak U.S. data, sentiment in Europe was hurt by a report showing economic activity slowed in June. The The eurozone's Purchasing Managers' Index, a survey of professionals' views in various sectors, edged down for both manufacturing and services...
http://www.google.com/hostednews/ap/article/ALeqM5h3kgMAkbLwyfxBdjzw8Pc4KZ7DhQD9GGT5H00

Cleaner44
06-23-2010, 04:14 PM
June 23, 2010

Gold May Gain in New York as Recovery Concerns Spur Demand
Gold, little changed in New York, may gain for a second day as concern that the world economic recovery could falter spurs demand for the metal as a means to protect wealth.

Asian equities slid for a second day and European stocks were little changed after a U.S. report yesterday showed sales of previously owned homes unexpectedly fell. Purchases of new houses plunged last month, analysts forecast data to show today. Bullion climbed to a record $1,266.50 an ounce on June 21.

“The market is still jittery,” said Bernard Sin, head of currency and metals trading at bullion refiner MKS Finance SA in Geneva. “Weakness in equities may continue to support gold. Gold will continue to be bullish.”

Gold futures for delivery in August added $3.80, or 0.3 percent, to $1,244.60 an ounce at 8:16 a.m. on the Comex in New York. Gold for immediate delivery in London was 0.3 percent higher at $1,243.88.

Bullion rose to $1,243 an ounce in the morning “fixing” in London, used by some mining companies to sell output, from $1,236 at yesterday’s afternoon fixing...
http://www.businessweek.com/news/2010-06-23/gold-may-gain-in-new-york-as-recovery-concerns-spur-demand.html

Cleaner44
07-08-2010, 02:41 PM
July 8, 2010

U.S. should cut deficit to spur recovery, IMF says
The Obama administration is overestimating U.S. economic growth and needs to reduce its budget deficit far more aggressively, the International Monetary Fund said on Thursday in a report that targeted Social Security, the home mortgage interest deduction and other politically sensitive policies as ripe for cutting.

And in its first-ever analysis of the U.S. financial sector, the agency warned that the recovery and seeming health of the banking industry may be illusory, threatened by an expected wave of defaults on commercial real estate loans and possibly in need of another large injection of capital. Small- and medium-size firms, clustered on the West Coast and in the South, are at particular risk from what may be a trillion dollars worth of bad loans for offices and other commercial buildings, IMF officials said in a briefing...
http://www.washingtonpost.com/wp-dyn/content/article/2010/07/08/AR2010070802309.html

Cleaner44
07-14-2010, 01:39 PM
July 14, 2010

Fed discussed steps to bolster sputtering recovery
WASHINGTON — Federal Reserve officials at their June meeting weighed whether new steps would be needed to keep the economic recovery alive.

A new document, released Wednesday, also revealed that Fed policymakers lowered their forecasts for economic growth this year in light of Europe's debt crisis, a volatile Wall Street, a stalled housing market and high unemployment.

With risks now growing, Fed officials at their June 22-23 meeting saw the need to explore new options for bolstering the economy. That's a turnaround from earlier this year when they were moving to wind down crisis-era supports.

No new specific steps were disclosed or agreed upon.

In the end, Fed Chairman Ben Bernanke and his colleagues agreed to hold a key interest rate at a record low near zero to help energize the economy. And they repeated a pledge to keep rates there for an "extended period."

At that time, Fed policymakers said they didn't think the slowing in the economy seen thus far warranted new stimulative actions besides those already in place, according to the minutes of the June meeting...
http://www.google.com/hostednews/ap/article/ALeqM5g1oxREFfFMcuUcB9TWYRzro-AMywD9GUVPF80

Cleaner44
07-30-2010, 01:05 PM
July 30, 2010

U.S. recovery sputters
The U.S. economy continued to grow during the second quarter, the government reported Friday. But the pace slowed more than economists were expecting, raising concern about growth - or even another recession - in the months ahead.

Gross domestic product, the broadest measure of the nation's economic activity, rose at a 2.4% annual rate during the three months ended June 30, the Commerce Department said...
http://money.cnn.com/2010/07/30/news/economy/gdp/

Cleaner44
08-02-2010, 10:09 AM
August 1, 2010

Greenspan: Slow economic recovery 'in a pause'
Former Federal Reserve Chairman Alan Greenspan says he thinks the economy is having a modest recovery, but right now there's a "pause" in that recovery, so it feels like a "quasi-recession."

Greenspan says long-term unemployment is pulling the economy apart even though large banks are doing much better and large companies are in excellent shape.

Greenspan predicts that unemployment will remain where it is, hovering around 9.5 percent, for the rest of the year.

Cheering the comeback of the stock market, Greenspan tells NBC's "Meet the Press" that a rising stock market will do more to stimulate the economy than any of the remedies now being discussed.
http://www.msnbc.msn.com/id/38512512/ns/business-stocks_and_economy/

Cleaner44
08-02-2010, 10:21 AM
August 2, 2010

Bernanke Says Economy Still Short of Full Recovery
The economy is improving but has yet to recover fully, with high unemployment and a weak housing market weighing on consumers, Federal Reserve Chairman Ben Bernanke said on Monday.

In remarks to state legislators that focused heavily on the problems faced by budget-strained state and municipal governments, Bernanke said constraints at the local level were also hindering the national rebound.

"We have a considerable way to go to achieve full recovery in our economy, and many Americans are still grappling with unemployment, foreclosure, and lost savings," Bernanke said...
http://abcnews.go.com/Business/wireStory?id=11304937

fl57caveman
08-02-2010, 01:56 PM
http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html

check this out Cleaner..interactive map of unemployment, broken down by counties. found this on another forum,

hope & change..green shoots right?

i don't think so

Cleaner44
08-03-2010, 12:26 PM
August 3, 2010

Geithner Says U.S. Unemployment May Rise Again Before Declining
Treasury Secretary Timothy F. Geithner said U.S. unemployment may rise again before it falls and the economy isn’t recovering rapidly enough.

“It’s possible you’re going to have a couple months where it goes up,” he said on ABC’s “Good Morning America” program. “People start to come back into the labor force, and that can cause the measured unemployment rate to go up temporarily.”

The U.S. economy grew at a slower-than-expected 2.4 percent pace in the second quarter as consumer spending slowed, according to Commerce Department data. Companies probably added about 90,000 jobs in July, according to the median estimate in a Bloomberg News survey before the Labor Department’s Aug. 6 employment report. The jobless rate is forecast to rise to 9.6 percent from 9.5 percent...
http://www.bloomberg.com/news/2010-08-03/geithner-says-unemployment-may-rise-again-economy-recovering-too-slowly.html

Cleaner44
08-06-2010, 11:28 AM
August 6, 2010

Private Growth Is Tepid as U.S. Economy Sheds Jobs Overall
With the American economic recovery hanging in the balance, private employers added 71,000 jobs in July, up from a downwardly revised 31,000 in June but well below the consensus forecast of 90,000. The unemployment rate stayed steady at 9.5 percent.

Over all, the nation lost 131,000 jobs last month, but those losses came as 143,000 Census Bureau workers left their temporary posts, the Labor Department said. June’s number was revised dramatically downward to a total loss of 221,000 jobs. The agency originally reported that the nation lost 125,000 jobs in June...
http://www.nytimes.com/2010/08/07/business/economy/07econ.html?src=busln

Cleaner44
08-06-2010, 11:34 AM
August 6, 2010

Thanks for the Invitation Mr Geithner, But You Forgot to Mention Which Planet You’re On
Tim Geithner recently wrote an Op-Ed piece in the New York Times titled, "Welcome to the Recovery."

The title sort of says it all, but just by skimming over it my immediate conclusion is that Mr. Geithner is either outright insane or a total liar. Neither of those are welcome realizations, though I doubt they are news to anyone with a working brain. However, for the sake of manners, I'll simply assume Mr Geithner is outright insane, in which case I am indeed, quite honored to be invited to his recovery... I only wish he'd mentioned the planet where it was taking place.

Let’s have a look at some data points on Earth, courtesy of the Bureau of Labor Statistics...
http://www.zerohedge.com/article/thanks-invitation-mr-geithner-you-forgot-mention-which-planet-you%E2%80%99re


August 2, 2010
Welcome to the Recovery
THE devastation wrought by the great recession is still all too real for millions of Americans who lost their jobs, businesses and homes. The scars of the crisis are fresh, and every new economic report brings another wave of anxiety. That uncertainty is understandable, but a review of recent data on the American economy shows that we are on a path back to growth...
http://www.nytimes.com/2010/08/03/opinion/03geithner.html

DenariiForMe
08-06-2010, 11:36 AM
Keep up the good work Cleaner, this is a great thread

I suggest everyone take a look at the 6 month chart of the DJIA...what does that look like to you?

http://thebsreport.files.wordpress.com/2009/05/sheep_off_cliff.jpg

Cleaner44
08-10-2010, 11:27 AM
August 10, 2010

Fed leaders meet as U.S. economic recovery loses steam
As Federal Reserve policymakers meet Tuesday, they will face the challenge of a faltering economic recovery without a clear consensus on what, if anything the central bank should do about it.

Fed leaders still think that the recovery is on track, though the pace of growth has slowed and the risks of a dip back into recession have risen since their last policymaking meeting in late June...
http://www.washingtonpost.com/wp-dyn/content/article/2010/08/09/AR2010080906080.html

Cleaner44
08-10-2010, 05:02 PM
August 10, 2010

Fed takes fresh steps to support fragile recovery
The Federal Reserve on Tuesday took a small but significant step to counter a weakening U.S. economic recovery, saying it would use cash from maturing mortgage bonds it holds to buy more government debt.

The decision to reinvest proceeds from the nearly $1.3 trillion in mortgage-linked debt, acquired during the 2008 financial crisis in an effort to keep borrowing costs down, represents a significant policy shift for the central bank...
http://www.reuters.com/article/idUSTRE6753HW20100810?type=politicsNews

golditiki
08-11-2010, 02:43 AM
August 10, 2010

Fed takes fresh steps to support fragile recovery
The Federal Reserve on Tuesday took a small but significant step to counter a weakening U.S. economic recovery, saying it would use cash from maturing mortgage bonds it holds to buy more government debt.

The decision to reinvest proceeds from the nearly $1.3 trillion in mortgage-linked debt, acquired during the 2008 financial crisis in an effort to keep borrowing costs down, represents a significant policy shift for the central bank...
http://www.reuters.com/article/idUSTRE6753HW20100810?type=politicsNews

recycle maturing mortgage bonds?
Doubt these bonds worth a lot.
The wording most probably a cover for under the radar moneyprinting.
Another of those mother FED lullabies to soothe the worldbaby.

Golditiki +++

Cleaner44
08-13-2010, 12:40 PM
August 13, 2010

Hoenig Says Fed Zero-Rate Policy Reinforces Doubts on Recovery
The Federal Reserve’s commitment to keep its target interest rate near zero may backfire by fanning doubts the recovery can be sustained, Kansas City Fed President Thomas Hoenig said.

“If in an attempt to add further fuel to the recovery, a zero interest rate is continued, it is as likely to be a negative as a positive in that it brings its own unintended consequences and uncertainty,” Hoenig said today in a speech in Lincoln, Nebraska. Keeping the rate after a year of expansion “gives legitimacy to questions about the sustainability of growth.”

Hoenig dissented from this week’s decision to bolster the recovery by keeping the Fed’s holdings of securities at $2.05 trillion and has objected to every statement this year. The Fed’s longest serving policy maker today also dismissed concerns that deflation poses a risk to the recovery and said monetary policy isn’t a cure-all for the economy...
http://www.bloomberg.com/news/2010-08-13/hoenig-says-fed-s-zero-rate-policy-reinforces-doubts-on-economic-recovery.html

Cleaner44
08-19-2010, 01:19 PM
So it has now been 1 year since I started this thread. I started the thread in response to "the authority's" propaganda that the recession was over and the recovery had started. I usually only post headlines in this thread as opposed to my thoughts. Today is a special occasion.

The appearance of recovery is created by government intervention, but it does not change the reality. In fact it delays any real recovery.

Census jobs temporarily gave the illusion that the unemployment problem was easing, only to then cause a new spike in unemployment numbers once those jobs were finished. We see over and over again how the government and Federal Reserve declare things are looking up, quickly followed by reports to the contrary.

The United States are filled with many capable people and business will transpire regardless of government intervention. A recovery will take place, not because of the government's intervention in the markets, but in spite of it. The United States are strong and our entrepreneurs will continue to work hard. In the meantime our government's central planners will get in the way and impede progress, while attempting to take credit for the recovery when it finally does happen.

Let us continue to watch and see with our own eyes how this story of "recovery" unfolds.

Every person must make their own choices in life and I no longer recognize "the authority".

Cleaner44
08-19-2010, 01:20 PM
August 20, 2009

Jobless claims in surprise rise
Initial filings jump unexpectedly to 576,000 in latest week, a continuing sign of labor market weakness. Continuing claims also increase.
http://money.cnn.com/2009/08/20/news/economy/initial_jobless_claims/?postversion=2009082008


August 19, 2010

Jobless Claims in U.S. Rose to Highest Since November
Claims for U.S. jobless benefits jumped to the highest level since November and Philadelphia-area manufacturing shrank for the first time in a year, indicating the economy may be slowing faster than forecast.

The number of unemployment claims unexpectedly shot up by 12,000 to 500,000 in the week ended Aug. 14, Labor Department figures showed today in Washington. The Federal Reserve Bank of Philadelphia’s general economic index turned negative in August, signaling contraction.

“There’s a red flag being waved right now that says ‘Danger,’” said Mark Vitner, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “Growth is going to slow in the second half and we might face something a little more ominous than that.”

Stocks dropped, led by declines in the largest U.S. companies including 3M Co., General Electric Co. and Boeing Co. that would be hurt by a slowdown in the recovery from the worst recession since the 1930s. A lack of jobs raises the risk that consumer spending will weaken further, just as manufacturing, which led the rebound, shows signs of stumbling...
http://www.bloomberg.com/news/2010-08-19/jobless-claims-in-u-s-rose-to-500-000-highest-since-november.html

Cleaner44
08-19-2010, 01:23 PM
August 19, 2010

TREASURIES-U.S. debt prices rise on new recovery weakness

Philly Fed business index falls for first time in a year

Jobless claims come in higher than expected

30yr yield hits new 16-month low; 10s-30s spread shrinks

Two-year yield touches new record low of 0.48 percent (Adds 30-year futures contract info & quote, updates prices)


By Emily Flitter

NEW YORK, Aug 19 (Reuters) - U.S. Treasuries prices rose on Thursday after an unexpected decline in factory activity signaled new trouble for economic recovery and sent investors out of riskier assets into safe-haven government debt.

The 30-year bond gained two full points in price, driven higher by news that factory activity in the U.S. mid-Atlantic shrank for the first time since July 2009. Traders said a large purchase of a particular type of 30-year futures contract on the Chicago Board of Trade also contributed to the long bond's rise...
http://www.reuters.com/article/idUSN1925996520100819

Cleaner44
08-19-2010, 01:54 PM
August 18, 2009

Recovery begins, but recession leaves scars, IMF says
The global recession is now over and a recovery has begun, Olivier Blanchard, the top economist for the International Monetary Fund, said Tuesday.
http://www.marketwatch.com/story/recovery-begins-but-recession-leaves-scars-imf-2009-08-18

August 11, 2010

The great false choice, stimulus or austerity
By Olivier Blanchard and Carlo Cottarelli
The debate on the need for further fiscal stimulus or quicker retrenchment has become too ideological, and too extreme. Underneath it, however, there is more agreement on the basics than may be apparent at first blush. Indeed, despite the warring comments that have appeared in these pages, there is actually no necessary conflict between restoring fiscal sustainability and maintaining support for the recovery.

Despite rising fears of a double-dip recession in both the US and UK in recent days, the basic facts remain unchallenged. Government debt in advanced Group of 20 countries will reach 115 per cent of gross domestic product by 2015 – almost 40 percentage points above pre-crisis levels. Some commentators look at these numbers and question the earlier fiscal stimulus. But only a 10th of this new debt is attributable to those attempts to boost their economies. The vast majority is due to the recession, and related revenue losses. No one believes that budgets should have been cut to offset this revenue loss. Indeed, allowing deficits to increase put a floor under what otherwise would have been a calamitous collapse in demand.

Today’s debt problems, therefore, result not from how fiscal policy was managed during the crisis, but rather from how it was mismanaged before the crisis. Advanced countries entered the crisis with some of the highest public debt ratios ever reached in the absence of a major war. A basic fiscal policy lesson of sowing in good times and reaping in bad times was ignored...
http://www.ft.com/cms/s/0/ea8e8acc-a57b-11df-a5b7-00144feabdc0.html

Cleaner44
08-19-2010, 02:09 PM
August 17, 2009
Delinquency rate on bank loans up to record 6.49%
Delinquency rates for loans and leases at U.S. banks increased to a record 6.49% in the second quarter from 5.58% in the first quarter, the Federal Reserve announced Monday.
http://www.marketwatch.com/story/delinquency-rate-on-bank-loans-up-to-record-649-2009-08-17

August 13, 2010
Mortgage loan delinquency rates continue to rise
Foresight Analytics, an Oakland-based research firm, recently reported that national delinquency rates for residential and commercial mortgages continue to rise in the second quarter of this year, despite modest growth in the national economy. bank delinq.JPG However, the group projected slower increases in problem mortgages than in recent periods. Problem construction, commercial and industrial loans are expected to hold steady or see a slight improvement compared to first quarter figures...
http://blogs.sacbee.com/the-public-eye/2010/08/bank-loan-delinquency-rates-continue-to-rise.html


Charge-off and Delinquency Rates
http://www.federalreserve.gov/releases/chargeoff/delallsa.htm

Cleaner44
08-20-2010, 01:37 PM
August 20, 2010

US stocks fall as recovery fears weigh
US stocks fell today after fears about the pace of the US economic recovery continued to weigh on investor sentiment.

By midday, the S&P 500 was down 1.1 per cent at 1,063.91, falling 1 per cent for the week. The Dow Jones Industrial Average had lost 1.2 per cent to 10,151.78, lower by 1.1 per cent on the week, and the Nasdaq was 0.9 per cent lower at 2,160.09, losing 0.2 per cent over the five days.

Wall Street followed global equity markets, suffering from a flight from risk sparked by weak manufacturing data from the Philly Fed and worse-than-expected US initial jobless claims figures released on Thursday. All 10 main sectors of the S&P 500 slid, with energy and industrials heading the falls...
http://www.ft.com/cms/s/0/1e6067d8-ac63-11df-a532-00144feabdc0.html?ftcamp=rss

MoMoney
08-20-2010, 02:20 PM
No recovery seen here in my part of the world. (Northeast) :mad:

Cleaner44
08-26-2010, 01:33 PM
August 25, 2010

Latest Reports Suggest Recovery in Danger
Stocks retreated again after another disappointing report on housing and weak durable goods orders brought more gloom about the economy.

The Dow Jones industrial average fell about 20 points in late morning trading Wednesday following news that sales of new homes fell last month to the lowest level on record. It was the latest indication that home sales are stagnating after the expiration of a homebuyer tax credit this spring.

A separate report from the Commerce Department showed that durable goods orders grew only slightly last month, falling shy of expectations and disappointing investors who had been hoping that the U.S. manufacturing sector would continue to pick up...
http://www.cbsnews.com/stories/2010/08/25/business/main6804471.shtml

Cleaner44
08-27-2010, 12:52 PM
August 27, 2010

Downward revision of GDP growth a strong signal of stalled recovery
Second-quarter economic growth was revised to an anemic 1.6%, a decline that was slightly less than many economists had predicted. But the report was a sobering cap to a week of bad economic news that has raised fears the nation could plunge into another recession. Bernanke says the Fed is ready to step in to provide additional stimulus.

The Commerce Department on Friday downgraded the nation's economic growth in the second quarter, providing the most important evidence yet that the recovery has stalled.

The anemic annualized growth rate of 1.6% was down from last month's estimate of 2.4%. The drop was slightly less than many economists had predicted, but the report still put an exclamation point on a week of bad economic news that has raised fears the nation could plunge into another recession...
http://www.latimes.com/business/la-fi-gdp-bernanke-20100828,0,3591753.story

Cleaner44
08-27-2010, 12:57 PM
August 21, 2009

Bernanke: U.S. Economy Near Recovery
The world economy is starting to emerge from its deep recession, Federal Reserve Chairman Ben S. Bernanke said Friday, owing to aggressive action by the Fed and other policymakers...

..."The view that the financial crisis had elements of a classic panic, particularly during its most intense phases, has helped to motivate a number of the Federal Reserve's policy actions," said Bernanke. "Bagehot instructed central banks -- the only institutions that have the power to increase the aggregate liquidity in the system -- to respond to panics by lending freely against sound collateral."
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/21/AR2009082101273.html


August 21, 2009

Fed Chairman Says American Economy Is Poised to Grow
Ben S. Bernanke, the chairman of the Federal Reserve, offered his most hopeful assessment in more than a year on Friday, asserting that “the prospects for a return to growth in the near term appear good"...

...Repeating the caution that Fed officials and most private forecasters have expressed in recent weeks, Mr. Bernanke predicted that the economic recovery “is likely to be relatively slow at first, with unemployment declining only gradually from high levels.”
http://www.nytimes.com/2009/08/22/business/economy/22fed.html


August 27, 2010

Bernanke Says The Economy Remains Vulnerable
The jobs picture is disappointing but the economic recovery is moving at a "modest pace," Federal Reserve Chairman Ben Bernanke said this morning after the government revised downward its figures for growth of U.S. goods and services in the second quarter.

But the second-quarter revision of gross domestic product to 1.6 percent from 2.4 percent is not quite as bad as economists expected. Bernanke, speaking at the Kansas City Federal Reserve Symposium in Jackson Hole, Wyoming, acknowledged "the task of economic recovery and repair remains far from complete."

The Fed is ready to step up its efforts if the economy deteriorates, he said. It will also be vigilant looking for deflationary signs. Falling prices are generally a bad sign for the economy, leading to lower investment and layoffs by corporations...
http://abcnews.go.com/Business/bernanke-economy-remains-vulnerable/story?id=11495986

Cleaner44
08-27-2010, 01:05 PM
August 28, 2009

U.S. double-dip recession "out of the question": ECRI
A weekly measure of future U.S. economic growth slipped in the latest week, though its yearly growth rate surged to a 38-year high that suggests chances of a double-dip recession are slim.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index for the week to August 21 fell to 124.4 from a downwardly revised 124.9 the prior week, which was originally reported at 125.0...

...Achuthan has recently projected that the recovery is moving at a stronger pace than any the United States has seen since the early 1980s.
http://www.reuters.com/article/ousiv/idUSTRE57R34120090828

August 27, 2010

U.S. econ growth gauge rises to 2-week high - ECRI
A measure of future U.S. economic growth rose to a two-week high in the latest week, but held at a level that suggests the recovery will remain sluggish, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 120.9 in the week ending August 20 from a revised 120.7 the previous week.

That was the highest level since August 6, 2010, when it was 122.0.

The previous week's index was originally reported at 120.80.

The index's annualized growth rate rose to minus 9.9 from a revised minus 10.1 percent a week earlier.

The growth rate was originally reported at minus 10.0 percent.
http://www.reuters.com/article/idUSNLLRJE6E420100827

Cleaner44
09-02-2010, 01:47 PM
August 27, 2009

Problem bank list tops 400
Number of troubled lenders continues to mount, hitting its highest level since June 1994, FDIC reports. Deposit insurance fund falls by 20%.

The number of institutions on the government's so-called "problem bank" list surpassed 400 in the latest quarter, climbing to its highest level in 15 years, according to a government report published Thursday.
http://money.cnn.com/2009/08/27/news/companies/fdic_list/?postversion=2009082713


August 28, 2009

FDIC adds 111 banks to its troubled list
The FDIC added 111 banks to its “Problem List” in the second quarter.

At the end of June, there were 416 insured institutions on the list, up from 305 on March 31. This is the largest number of institutions on the list since June 30, 1994, when there were 434 institutions on the list, according to the government fund that protects consumer deposits...

...And more than 28 percent of all insured institutions reported a loss in the second quarter, compared with 18 percent a year earlier.
http://www.bizjournals.com/sanfrancisco/stories/2009/08/24/daily66.html


September 5, 2009

Five More U.S. Banks Are Seized, Pushing Total for Year to 89
Lenders in Illinois, Iowa, Missouri and Arizona collapsed, pushing the number of bank failures to 89 this year amid continuing fallout from the worst economic slump since the Great Depression...

...The FDIC insures deposits at 8,195 institutions with roughly $13.5 trillion in assets and reimburses customers for deposits of up to $250,000 per account when a bank fails. The surge in failures has depleted the Washington-based regulator’s deposit insurance fund, which fell to $10.4 billion at the end of June from $13 billion in the previous quarter, the agency said. The total was the lowest since 1993.

The agency has brokered the 6th and 11th largest bank failures in history this year in Birmingham, Alabama-based Colonial BancGroup Inc. and Austin, Texas-based Guaranty Financial Group Inc.
http://www.bloomberg.com/apps/news?pid=20601087&sid=atIgNJeY9A6g

September 1, 2010

FDIC: 829 Banks on the Brink
The Federal Deposit Insurance Corporation (FDIC) warns that 829 of the nation's 7,800 banks were on its problem list at the end of June, up from 775 three months earlier.

So far this year, 118 banks have failed, compared to 140 closed by regulators during all of 2009...
http://www.consumeraffairs.com/news04/2010/09/bank_failures0901.html

Cleaner44
09-10-2010, 01:01 AM
September 8, 2009

US gold jumps above $1,000 on dollar's sharp drop
New York gold futures rose above the psychological $1,000 an ounce mark on Tuesday as a sharp decline in the dollar and an oil rally boosted the metal's appeal as a hedge against the depreciating U.S. currency as well as rising inflation.
http://www.reuters.com/article/marketsNews/idUSN0840354320090908

September 9, 2010

Gold dips, heads for 1st weekly drop in over a month

Gold edged down on Friday, heading for its first weekly decline in more than a month as stock markets gained, but bargain hunting could cushion the fall, with sentiment in the financial markets still fragile. Gold hit a two-month high above $1,262 an ounce this week on renewed global economic concerns before losing some gains to profit taking and better-than-expected U.S. data on jobless benefits. Silver was also off its highest since early 2008...
http://www.reuters.com/article/idUSSGE68901U20100910

Cleaner44
09-10-2010, 01:16 AM
September 8, 2009

Fed banks saw economy stabilizing, weak in August
Regional Federal Reserve banks saw the U.S. economy as stabilizing though still weak in August and none wanted to raise the rate the Fed charges emergency borrowers, documents released by the Fed on Tuesday showed...

...The next meeting of the Fed's policy-setting Federal Open Market Committee is September 22-23. Policy-makers say they will keep interest rates exceptionally low for a long time.
http://www.reuters.com/article/ousivMolt/idUSTRE58754E20090908


September 8, 2010

Falling Rates Aid Debtors, but Hamper Savers
Households and corporations alike are refinancing their loans in droves to take advantage of interest rates that seem impossibly cheap. But those same low rates come with a flip side, driving down the income of retirees and others who live off their savings.

It is a side effect of a government policy meant to push down interest rates to a point that businesses and consumers are compelled to borrow and spend again, and yet it is hurting anyone with a savings account...
http://www.nytimes.com/2010/09/09/business/economy/09rates.html?src=busln



September 9, 2010

What Should the Federal Reserve Do Next?
Editor's note: A prolonged period of near-zero interest rates and unprecedented asset purchases by the Federal Reserve has failed to return the U.S. economy to robust growth or make an appreciable dent in unemployment. It is now commonly asserted that the Fed is "out of ammunition." Is it? We asked six authorities on monetary policy what the Fed should do next.
http://online.wsj.com/article/SB10001424052748704358904575477580959771188.html

Cleaner44
09-10-2010, 01:27 AM
September 9, 2009

US home loan demand at 3-month high as rates fall
U.S. mortgage applications surged last week to their highest since late May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday.
http://www.reuters.com/article/marketsNews/idUSN0932384220090909

September 8, 2010

US home buying up in week, but down 40 pct in year
Americans applied to buy homes at the highest pace last week since May, but more than 8 ofevery 10 loan requests was for a refinancing, Mortgage Bankers Association data show on Wednesday.

August employment and July pending home sales surpassed forecasts and could portend a rise in deeply depressed homesales, economists said.

Still, about 82 percent of all loans last week were for refinancings rather than purchases, with unemployment still high at 9.6 percent and the U.S. housing market groping for a bottom.
http://www.foxbusiness.com/markets/2010/09/08/home-buying-week-pct-year/

Cleaner44
09-10-2010, 01:41 AM
September 9, 2009

Fed's Evans: US recovery "beginning to start"
The U.S. economic recovery is beginning to start but interest rate hikes are "some time down the road", Chicago Federal Reserve President Charles Evans said on Wednesday.
http://www.reuters.com/article/bondsNews/idUSNYC00328120090909

August 24, 2010

Fed's Evans: US Economy In 'Extremely Modest' Recovery
Federal Reserve Bank of Chicago President Charles Evans said Tuesday that the economic recovery is "extremely modest," and the pace of the recovery "slower than we had hoped for."

However, he said the rebound is continuing from the worst slowdown since the Great Depression, and he views as unlikely that the economy will fall into a double-dip recession.

"A double-dip recession is not the most likely outcome," Evans said, although he noted that the risk of a double-dip is higher than it was only six months ago...
http://online.wsj.com/article/BT-CO-20100824-707681.html

Cleaner44
09-10-2010, 01:47 AM
September 9, 2009

FDIC may extend debt guarantee program for banks
Federal regulators may offer a limited emergency extension of a temporary rescue program that guarantees hundreds of billions of dollars in U.S. banks' debt...

...The insurance fund, which had $10.4 billion at the end of June, has slipped to 0.22 percent of total insured deposits, below a congressionally mandated minimum of 1.15 percent.
http://www.google.com/hostednews/ap/article/ALeqM5jeEYkos-kGlHtHUhGAPnFf68MZKwD9AJSFCG3

September 8, 2010

FDIC's Bair Warns of Government "Exposure" in Mortgages
A key U.S. banking regulator raised concern on Wednesday about the risk of "exposure" the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.

"We should all be concerned about the type of exposure that the government is taking on through guaranteeing so many mortgages right now and make sure that we do have some prudent underwriting standards," Federal Deposit Insurance Corp Chairman Sheila Bair suggested in an interview on CNBC.

"The government is taking on a lot of exposure and guaranteeing most mortgages that are being originated these days," she said. "And I think the policymakers here are trying to balance the need for prudent underwriting with a need to support... what is still a very distressed housing market."

Mortgage finance giants Fannie Mae and Freddie Mac, under government control since September 2008, and the Federal Housing Administration, currently back some 90 percent of new U.S. mortgages...
http://abcnews.go.com/Business/wireStory?id=11589815



September 9, 2010

FDIC insurance limit of $250,000 is now permanent
The current FDIC insurance limit on bank deposit accounts of $250,000 is now permanent. On July 21, 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law which made the limit permanent. Prior to the passage of this law, the limit was set to drop back to $100,000 per depositor on January 1, 2014. Keep in mind that this permanent increase also applies to accounts at federally insured credit unions under the National Credit Union Share Insurance Fund (“NCUA Share insurance”)...
http://www.boston.com/business/personalfinance/managingyourmoney/archives/2010/09/fdic_insurance_3.html

Cleaner44
09-10-2010, 02:00 AM
September 10, 2009

U.S. Initial Jobless Claims Fell to 550,000 Last Week
The number of Americans filing first-time claims for jobless benefits dropped last week to the lowest level since July, a sign the labor market is deteriorating at a slower pace.

Applications fell by 26,000 to 550,000 in the week ended Sept. 5, lower than economists forecast, from a revised 576,000 the week before, Labor Department data showed today in Washington. The total number of people collecting unemployment insurance declined to the lowest level since April.
http://www.bloomberg.com/apps/news?pid=20601068&sid=ag9R1aoTYI_o

September 9, 2010

Jobless Claims in U.S. Decreased 27,000 to 451,000 Last Week
Applications for U.S. unemployment benefits declined more than forecast last week, easing concern that employers will accelerate firings as the world’s largest economy cools.

Initial jobless claims dropped by 27,000 to 451,000 in the week ended Sept. 4, the lowest level in almost two months, Labor Department figures showed today in Washington. The total number of people receiving unemployment insurance was little changed, while those getting extended payments rose.

Job creation needs to pick up to prevent a slide in consumer spending, which accounts for 70 percent of the economy, and reduce the risk of a relapse into recession. The Federal Reserve said yesterday in its latest regional survey that the economy maintained its expansion while showing signs of a “deceleration” from mid-July through August...
http://www.bloomberg.com/news/2010-09-09/jobless-claims-in-u-s-decreased-by-more-than-estimated-27-000-to-451-000.html

Cleaner44
09-10-2010, 02:08 AM
September 10, 2009

Geithner says less need for government in markets
U.S. Treasury Secretary Timothy Geithner said on Thursday a strengthening economy means the government can end some of the extraordinary support it put in place for markets and prepare for a slow recovery.
http://www.reuters.com/article/ousivMolt/idUSTRE5894YV20090910?sp=true


September 10, 2009

Geithner Sees 'Long Way to Go' for Recovery
A year after the peak of the financial crisis, the U.S. economy is no longer on the brink of disaster, Treasury Secretary Timothy Geithner said Thursday, but it still has a "long way to go" to recover.
http://online.wsj.com/article/SB125260323591700207.html?mod=googlenews_wsj

September 9, 2010

Treasury Secretary Geithner Urges Approval of Economic Tax Proposals
Treasury Secretary Timothy Geithner on Thursday urged Congress to approve President Obama’s recently proposed tax measures aimed at kick-starting the economy, arguing that quick approval would instill confidence in U.S. businesses...
http://www.foxbusiness.com/markets/2010/09/09/treasury-secretary-geithner-urges-approval-economic-tax-package/

Cleaner44
09-10-2010, 02:17 AM
September 10, 2009

White House Says Stimulus Has Saved 1.1 Million Jobs
President Barack Obama’s $787 billion fiscal stimulus program has created or saved as many as 1.1 million jobs since its implementation in February, the White House said today.

The stimulus added 2.3 percentage points to gross domestic product in the second quarter, the Obama administration said today in its first quarterly report to lawmakers in Washington on the economic impact of the program. The White House said it expects the stimulus to add up to 3 percentage points to growth in July through September...

...The world’s largest economy contracted 1 percent from April through June, according to the Commerce Department. The drop was the fourth in a row, making it the longest contraction since quarterly records began in 1947.

“The economy is obviously still far from healthy,” the CEA said in today’s report. Economists surveyed by Bloomberg News forecast growth of 2.2 percent for the current quarter.

The Federal Reserve yesterday said 11 of its 12 regional banks reported signs of a stable or improving economy in July and August.

The labor market “remained weak across all districts,” while some regions reported an “uptick in temporary hiring and a decline in the pace of layoffs,” the Fed said in its Beige Book business survey, published two weeks before officials meet to set monetary policy.
http://www.bloomberg.com/apps/news?pid=20601103&sid=ao9EzEN0iLrE


September 8, 2010

Factbox: Obama plan is latest rescue effort for economy
President Barack Obama on Wednesday will propose tax breaks for businesses and spending on public works programs in a package the White House says will eventually cost $180 billion. It is the latest in a series of plans to rescue the U.S. economy.

Following are steps to boost the economy taken by Obama, who inherited the worst recession since the 1930s Great Depression when he took office in January 2009.

* ECONOMIC STIMULUS PACKAGE - Obama and his Democrats passed a $787 billion package in February 2009 that authorized spending for roads, bridges, railways and social safety-net programs along with tax breaks.

The non-partisan Congressional Budget Office now estimates the total cost at $814 billion.

The White House says the package brought about a recovery in an economy that was in free fall. But Republicans point to the 9.6 percent unemployment rate as evidence it did not work...
http://www.reuters.com/article/idUSTRE6874BG20100908

Cleaner44
09-10-2010, 11:43 AM
September 11, 2009

U.S. econ recovery to be vigorous despite consensus
A weekly gauge of future U.S. economic growth hit a year-high in the latest week, sending its yearly growth rate to an all-time high that points to a more vigorous recovery than consensus has shown...

..."We expect non-manufacturing employment -- which is where 91 percent of us work -- to be positive by year end," Achuthan said.

"We are talking about recovery that includes jobs growth in the non-manufacturing sector, and we are talking about a recovery that includes increases in consumer spending. So, in spite of the fact that many people look at this recession as being unprecedented and unlike any other, what we're seeing in our indexes is that there are a lot of similarities to previous recessions and recoveries," he added.

This week's index was pushed higher largely to stronger housing activity, according to ECRI. (Reporting by Camille Drummond, Editing by Chizu Nomiyama)
http://www.reuters.com/article/bondsNews/idUSNYS00540420090911

September 10, 2010

US economic growth gauge rises to 4-week high-ECRI
A measure of future U.S. economic growth rose to a four-week high in the latest week but held at a level that suggests the recovery will remain sluggish, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 122.0 in the week ended September 3, up from 120.5 the previous week, originally reported at 120.6.

That was the highest level since August 6, when it stood at 122.0.

The index's annualized growth rate rose to minus 10.1 percent from minus 10.2 percent a week earlier, originally reported at minus 10.1 percent. That was the highest since August 20, when it stood at minus 9.9 percent.
http://www.reuters.com/article/idUSNLLAKE6G820100910

Cleaner44
09-16-2010, 10:35 AM
September 16, 2010

More Americans live in poverty than ever before in recorded history
The number of people living in poverty in America rose by nearly 4 million to 43.6 million in 2009 —the largest figure in the 51 years for which poverty estimates are available — the Census Bureau said Thursday.

The bureau said in a statement on its website that the official poverty rate was 14.3 percent, or 1 in 7 of Americans, the highest level since 1994.

The number of people in poverty in 2008 was 39.8 million, or 13.2 percent. It was the third consecutive annual increase...
http://www.msnbc.msn.com/id/39211644/ns/us_news-life/

Cleaner44
09-16-2010, 10:40 AM
September 16, 2010

U.S. Home Seizures Reach Record for Third Time in Five Months
U.S. home seizures reached a record for the third time in five months in August as lenders completed the foreclosure process for thousands of delinquent owners, according to RealtyTrac Inc.

Bank repossessions climbed 25 percent from a year earlier to 95,364, the most since the Irvine, California-based data provider began keeping records in 2005. Foreclosure filings, including default and auction notices, fell 5 percent to 338,836. One out of every 381 U.S. households received a filing, RealtyTrac said today in a statement...
http://www.bloomberg.com/news/2010-09-16/bank-seizures-of-u-s-homes-reach-record-for-the-third-time-in-five-months.html

Cleaner44
09-21-2010, 12:20 PM
September 20, 2010

Natl Bureau Of Economic Research: Recession Ended In June '09
The longest recession of the post World War II period now has an end date.

The National Bureau of Economic Research announced Monday that the downturn that started in December 2007 ended in June of last year. The 18 month contraction was longer than the 1973-1975 and 1981-1982 recessions.

The unofficial referee of the U.S. business cycle said in a statement on its website its determination the recession ended has little to say about the current state of the economy.

"The committee did not conclude that economic conditions since that month have been favorable or that the economy has returned to operating at normal capacity."

Instead, "the committee determined only that the recession ended and a recovery began in that month."

The NBER's determination makes it effectively impossible to have the much feared double dip recession, wherein economic activity turns negative again after a period of positive momentum...
http://online.wsj.com/article/BT-CO-20100920-708528.html

Cleaner44
09-21-2010, 12:22 PM
September 21, 2010

Recession is officially over, but anxiety lingers
On the day that the Great Recession was officially declared to be part of history, President Obama confronted deepening angst from business leaders and ordinary Americans who have little faith that the recovery is for real.

The determination that the U.S. recession ended in June 2009, made by a panel of private economists who are the arbiters of business cycles, confirms that the 18-month downturn was the longest recession of the post-World War II era.

The nation - and the political system - remain haunted by that downturn. Vast majorities of Americans think the nation is still in recession, regardless of what scholars say...
http://www.washingtonpost.com/wp-dyn/content/article/2010/09/20/AR2010092006355.html

Cleaner44
09-24-2010, 07:14 PM
August 18, 2009

Recovery begins, but recession leaves scars, IMF says
The global recession is now over and a recovery has begun, Olivier Blanchard, the top economist for the International Monetary Fund, said Tuesday.
http://www.marketwatch.com/story/recovery-begins-but-recession-leaves-scars-imf-2009-08-18


September 18, 2009

IMF chief sees global recovery in 1st half of 2010
The global economy should recover from recession in the first half of 2010, but it will take time for unemployment levels to decline, International Monetary Fund Managing Director Dominique Strauss-Kahn said.

In a transcript of an interview conducted by an IMF staffer which was published on Friday, Strauss-Kahn said recovery could happen even sooner, citing what he described as good recent economic figures...

...The IMF chief acknowledged that the Fund had not been "as good as we should have been in terms of warning early about the risks of crisis. We're working very hard on this and are reshaping our surveillance to that effect."
http://www.reuters.com/article/gc04/idUSTRE58H4O220090918

September 12, 2010

Recovery May Not Create Job Growth, IMF's Strauss-Kahn Says
The global economy may not generate much employment growth in coming years, with Europe most at risk of a sluggish and jobless recovery, International Monetary Fund Managing Director Dominique Strauss-Kahn said in an interview.

“The recovery is not enough, you need to have a recovery with jobs,” Strauss-Kahn told Bloomberg Television yesterday in Oslo. “The worst thing to do would be to believe that because we escaped -- at the edge of the cliff -- the big crisis that could have happened 1 1/2 years ago, we are safe. We’re not safe yet.”

IMF chief economist Olivier Blanchard last week warned that joblessness in the U.S., Europe and elsewhere will likely linger for months. The Organization for Economic Cooperation and Development said policy makers may need to extend or bolster stimulus programs as growth proves slower than projected...
http://www.bloomberg.com/news/2010-09-13/global-economic-recovery-may-not-spur-job-growth-imf-s-strauss-kahn-says.html

Cleaner44
09-24-2010, 07:21 PM
September 22, 2009

U.S. economy at "beginnings" of recovery: Geithner
U.S. Treasury Secretary Timothy Geithner on Tuesday said that the U.S. economy appeared to be picking up steam and G20 leaders gathering in Pittsburgh this week would strive to ensure the recovery was balanced.
http://www.reuters.com/article/ousivMolt/idUSTRE58L38L20090922

September 24, 2010

Buffet, Geithner say US recession not over
Who says the US recession is over? Not Treasury Secretary Timothy Geithner. And not legendary investor Warren Buffett.

The private-sector National Bureau of Economic Research, considered the arbiter of recessions, announced on Monday it had pegged June 2009 as the end of the slump. That was no surprise to Wall Street economists, most of whom had long ago concluded the recession ended in the summer of last year.

But it put the Obama administration in an awkward position. How can policymakers declare the recession is over when nearly 15 million people are still out of work?

"I'm not an economist, and I'm not an academic," Geithner said on Wednesday when a Republican lawmaker tried to pin him down on whether he thought the recession was over. "And I would just say the following: This is still a very tough economy."

That answer didn't satisfy Representative Bill Posey, who at one point told Geithner to "man up" and give a clear yes or no answer...
http://www.moneycontrol.com/news/world-news/buffet-geithner-say-us-recession-not-over_486632.html

Cleaner44
09-24-2010, 07:23 PM
September 15, 2009

Bernanke: Despite Recovery, Economy Likely To Feel Weak
U.S. Federal Reserve Chairman Ben Bernanke Tuesday said it's likely the recession has come to an end, but he reiterated that tight credit conditions and a soft labor market will prove to be a challenge.

From a technical point, the "recession is very likely over at this point," Bernanke said in a question-and-answer session at the Brookings Institution.
http://online.wsj.com/article/BT-CO-20090915-708786.html


September 24, 2010

Bernanke: Efforts Failed to Produce Recovery With 'Sufficient Vigor'
Federal Reserve Chairman Ben Bernanke reiterated his dissatisfaction with the course of the recovery Friday and suggested the Fed may downgrade its forecast for economic growth when it next meets.

His comments came during a largely academic speech at Princeton University on lessons learned from the financial crisis.

"Although financial markets are for the most part functioning normally now, a concerted policy effort has so far not produced an economic recovery of sufficient vigor to significantly reduce the high level of unemployment," he told a conference at the Ivy League university where he taught from 1985 to 2002...
http://online.wsj.com/article/SB10001424052748703499604575512242273196062.html?m od=googlenews_wsj

Cleaner44
09-24-2010, 07:32 PM
September 10, 2009

Economy Still Fragile, Fed Reports
An economic recovery may well have arrived, but a Federal Reserve report released Wednesday shows just how varied it is proving to be among different industries and different regions.

The mixed picture underscores how fragile the economy remains. While growth overall may have resumed, the nation is still vulnerable to new shocks as long as there are such large pockets of weakness...

...The banking sector remains a mess, and consumers and businesses are reluctant to borrow money. "Most Districts reported that loan demand was weak and that credit standards remained tight," the beige book says. The commercial real estate sector also remains in rough shape. Industry officials indicated that "demand for space remained weak and that construction continued to decline in all Districts." The Richmond Fed, whose district includes the Washington area, noted that "some landlords had postponed property improvements in an effort to conserve cash."

The mixed assessment is consistent with economic data of late.

"The beige book read like a pretty cautious assessment of the economic recovery to this point," said Peter Hooper, chief economist at Deutsche Bank Securities. The expansion that he and other economists believe is underway is driven more by temporary factors than hard evidence of the kind of underlying trends that will "ultimately be needed to sustain a recovery."
http://www.washingtonpost.com/wp-dyn/content/article/2009/09/09/AR2009090902003.html?hpid=topnews


September 25, 2009

U.S. economic recovery is 'far from fragile'-ECRI
A weekly gauge of future U.S. economic growth climbed higher in the latest week, while its yearly growth rate reached a new all-time high, reaffirming projections of a brisk, uninterrupted recovery. The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to a 60-week high of 127.8 in the week to Sept. 18 from an downwardly revised 126.1 the previous week, which was originally reported as 126.2.
http://www.reuters.com/article/bondsNews/idUSNYS00543920090925


September 25, 2009

Housing recovery still fragile
Sales of new U.S. homes inched up just 0.7 percent in August compared with July, to a seasonally adjusted annual rate of 429,000, the Commerce Department said today.

Economists had expected a pace of 440,000.
http://economy.kansascity.com/?q=node/4022


September 30, 2009

Mixed Data Reflect Fragility of Economic Recovery
Home prices rose once again in July, but a drop in consumer confidence in September underscored the fragile state of the economy's recovery.
http://online.wsj.com/article/SB125422914801649093.html?mod=WSJ_hpp_sections_rea lestate

September 22, 2010

Global recovery still fragile: BHP
The world’s biggest resources company, BHP Billiton, remains concerned about the fragile state of the global economy but says economic growth in Asia, where it has key markets, is robust.

BHP Billiton chairman Jac Nasser said while the global economic outlook has improved, the recovery ‘‘remains fragile’’.

‘‘Despite a near-term slowing in China, we continue to believe that the fundamentals driving Asian growth are robust,’’ Mr Nasser said in the company’s annual report released today...
http://www.smh.com.au/business/global-recovery-still-fragile-bhp-20100922-15mg9.html

Cleaner44
09-24-2010, 07:38 PM
September 24, 2010

U.S. gold hits record above $1,300 an ounce
U.S. gold futures ended higher on Friday, hitting a record above $1,300 an ounce on worries over economic uncertainty after the Federal Reserve raised expectations of new measures to stimulate growth...
http://www.reuters.com/article/idUSN2458659820100924

RFID trumps
09-27-2010, 08:30 AM
Adding to the history soon, Bllomberg news just said Dubai is going to sell $1 Billlllion in debt, I'll be the first to admit, I aint the one buyin'...:p

Earlier same bobble heads said Spain saw an increase in tax reciepts, revenue and such... Euro banks haulting sales of gold I saw someone said in the gold forum, is the Euro securing up? Who's going to buy Dubai's debt and why? Options on PM's are right now at play...all of this will affect history as it unfolds...

Cleaner44
09-29-2010, 05:29 PM
September 29, 2010

Rosengren Says Federal Reserve Should Respond Vigorously to Slow Recovery
Federal Reserve Bank of Boston President Eric Rosengren said the central bank still has tools to boost an “anemic” recovery and should consider further action to cut unemployment and raise the inflation rate.

Policy makers must respond “vigorously, creatively, thoughtfully and persistently, as long as we have options at our disposal,” Rosengren said in the text of remarks to the Forecasters Club of New York today. “And we do have options, despite having pushed short-term rates to the zero lower bound.”

Rosengren’s comments put him at odds with Charles Plosser, head of the Philadelphia Fed, who said earlier today that he’s against further monetary expansion because he sees “little risk” of deflation. Central bankers said after a meeting on Sept. 21 that too-low inflation and sluggish growth may warrant an easing of monetary policy, including resuming large-scale asset purchases...
http://www.bloomberg.com/news/2010-09-29/rosengren-says-federal-reserve-should-respond-vigorously-to-slow-recovery.html

Cleaner44
12-03-2010, 11:30 AM
December 3, 2010

Greenspan: Rising Stock Markets Are Key to Recovery
Former Federal Reserve Chairman Alan Greenspan told CNBC Friday that rising stock values have played a critical role in the economic recovery. The stock market got a boost from the Fed policy to boost liquidity, which drove interest rates down and pushed investors toward riskier investments like stocks.

Equities have risen more than 80% from the lows set during the financial crisis, noted Greenspan, benefiting investors and helping fuel the recovery...
http://www.dailyfinance.com/story/investing/greenspan-rising-stock-markets-are-key-to-recovery/19743325/

Cleaner44
12-03-2010, 11:31 AM
December 3, 2010

Jobs Report: Recovery? Nope.
Like a beat-up truck on its last legs, the nation's economic recovery is all stop-and-go, one month lurching forward, the next month grinding to a halt. After a few autumn months of modest yet encouraging gains, the economy faltered again in November, according to the latest monthly report from the Department of Labor.

The headline unemployment rate ticked up to 9.8 percent, from 9.6 percent in October. The economy added just 39,000 jobs last month—a disappointment considering that economists had predicted gains of 130,000. The number of unemployed Americans remains historically high, at 15.1 million, and the ranks of those out of work for six months or more, the crippling "long-term unemployment" I chronicled in detail here, held steady at 6.3 million, or 42 percent of all unemployed workers. And there were 1.3 million "discouraged" workers—jobless people who've stopping looking for work altogether—in November, an increase of 421,000 from last year...
http://motherjones.com/mojo/2010/12/jobs-unemployment-labor-report

Cleaner44
12-03-2010, 11:33 AM
December 3, 2010

US unemployment surges to 9.8 percent
The US jobless rate surged to 9.8 percent in November, a hammer blow to the economic recovery and to President Barack Obama's hopes for a quick end to high unemployment.

The world's largest economy created many fewer jobs than expected and the unemployment rate rose from 9.6 percent to its highest level since April, the Labor Department reported.

A measly 39,000 jobs were created during the month, well short of the 130,000 predicted by economists and well beneath the levels needed to dent unemployment rates...
http://www.google.com/hostednews/afp/article/ALeqM5in4iTKQMfyWpJSGldEJHWF8R4qBw?docId=CNG.3023d 7fcdeb5553eb95b62891d9d84d2.01

Cleaner44
12-28-2010, 11:07 PM
December 28, 2010

Confidence, housing shows recovery still weak
U.S. consumer confidence unexpectedly deteriorated in December, while prices of U.S. single-family homes fell almost double the expected pace in October, tempering growing optimism on the economy's recovery.

The latest data was at odds with other signs suggesting the economic recovery is accelerating and a separate report last week showing consumer sentiment at its highest level since June this month...
http://today.msnbc.msn.com/id/40827654/ns/business-eye_on_the_economy/

Cleaner44
12-28-2010, 11:23 PM
Here we are 497 days since I started this thread and we were told by the "experts" and "authorities" that the recession was over and recovery was begining.

Do you see a recovery?

Has anything really changed?

Has the employment situation improved?

Gold is up $450 an ounce and silver is up $16 an ounce since I started this thread.

What does this say about the value of the dollar?


U.S. unemployment eases at 9.4%; job losses shrink
The U.S. jobless rate eased to 9.4 percent in July from 9.5 percent the previous month, the Labor Department's Bureau of Labor Statistics reported.
http://www.bizjournals.com/denver/stories/2009/08/03/daily84.html

I wonder if these numbers will be revised later...


Leading indicators rise 0.6% in July
An economic recovery may begin soon, and data suggest that the recession is bottoming out, the Conference Board said Thursday.
http://www.marketwatch.com/story/leading-indicators-rise-06-in-july-2009-08-20


August 21, 2009

Bernanke: U.S. Economy Near Recovery
The world economy is starting to emerge from its deep recession, Federal Reserve Chairman Ben S. Bernanke said Friday, owing to aggressive action by the Fed and other policymakers...

..."The view that the financial crisis had elements of a classic panic, particularly during its most intense phases, has helped to motivate a number of the Federal Reserve's policy actions," said Bernanke. "Bagehot instructed central banks -- the only institutions that have the power to increase the aggregate liquidity in the system -- to respond to panics by lending freely against sound collateral."
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/21/AR2009082101273.html

Arcturus
01-01-2011, 01:11 PM
Thanks for the thread you are doing good work here. This needs to be chronicled.

fledgling
01-01-2011, 03:03 PM
It amazes me the degree people continue to listen to those that were wrong and mock those that called it, consistently.

I think we all see where this is going. Ben will try and buy CA Munis and people won't even get it. The ones that do, won't do a damn thing except argue about twenty dollar co-pays or something

Basically, the government is buying time. People are so domesticated now they can barely find there way out of a paper bag, much less see the truth.

It's very discouraging when you realize that.

SilverFinger
01-01-2011, 03:09 PM
Wow...great thread Cleaner44....amazing. I'm love'n it...even though it's painful to see my fellow man falling victim. I have my own personal vindictiveness against Bernake and Geithner...trying to loose my dollars for something of value.

I played the corporate game, I played the regular 8% double you money every 7 to 8 years in the stock market (yeah right!!!), I played the 401k savings to a million dollars...I played their media games....and in the end I had to scramble to correct my finances busting my azz for 3.5 years to adjust assets. I'm now stable and well off....but they pissed me off big time. Many people are unaware of what has happened.

I'm so grateful to you Cleaner 44 for creating this topic and thread and letting people know the truth. You've done your job well. You've given me an idea too...I want to see what kind of media propoganda they spelled out in 1930's...wonder if much was documented and survived.

dukadan
01-02-2011, 01:46 AM
Do you see a recovery? No the economy is on float costing 75-110B a month to maintain the illusion at 0% interest rates. (teaser rate)


Has anything really changed? Yes. China has injected their stimulus directly into the economy that has caused many people to become millionairs in emerging economies esp. China. Money has flowed into emerging economies creating new asset bubbles overseas. That drives demand for commodities. However not in the US. China and India are making global aquisitions on Natural resources in esp. Africa. The government in Us is stripping the rights of the people and milking consumer as slaves.(this isn't new but what else besides a new internet law or something banning free speech) Patriot act, health care overhaul, financial reform is anything left? Groping at airports or tell on your neighbor instead of creating a friendship.


Has the employment situation improved? In the US no. Globally yes.

Gold is up $450 an ounce and silver is up $16 an ounce since I started this thread. (reflection of debasement to dollar)


What does this say about the value of the dollar?If Geithner says the dollar will be always be the reserve currency of the world in his/our lifetime then he must be lying through his teeth.

Thank you for your informative posts cleaner. keep cleaning...

Carpenter
01-02-2011, 06:16 AM
Has the employment situation improved?



American companies created 1.4 million jobs in 2010............

Overseas.:mad:

Cleaner44
01-03-2011, 05:17 PM
January 3, 2011

US Consumer Bankruptcies Hit 5-Year High in 2010
The number of U.S. consumers who filed for bankruptcy protection in 2010 was the highest in five years, and the figure could rise as Americans struggle with excess debt in an uncertain economy, a report issued Monday said...
http://www.cnbc.com/id/40895714

Cleaner44
01-03-2011, 05:30 PM
Thanks for the thread you are doing good work here. This needs to be chronicled.


Wow...great thread Cleaner44....amazing. I'm love'n it...even though it's painful to see my fellow man falling victim. I have my own personal vindictiveness against Bernake and Geithner...trying to loose my dollars for something of value.

I played the corporate game, I played the regular 8% double you money every 7 to 8 years in the stock market (yeah right!!!), I played the 401k savings to a million dollars...I played their media games....and in the end I had to scramble to correct my finances busting my azz for 3.5 years to adjust assets. I'm now stable and well off....but they pissed me off big time. Many people are unaware of what has happened.

I'm so grateful to you Cleaner 44 for creating this topic and thread and letting people know the truth. You've done your job well. You've given me an idea too...I want to see what kind of media propoganda they spelled out in 1930's...wonder if much was documented and survived.


No the economy is on float costing 75-110B a month to maintain the illusion at 0% interest rates. (teaser rate)

Yes. China has injected their stimulus directly into the economy that has caused many people to become millionairs in emerging economies esp. China. Money has flowed into emerging economies creating new asset bubbles overseas. That drives demand for commodities. However not in the US. China and India are making global aquisitions on Natural resources in esp. Africa. The government in Us is stripping the rights of the people and milking consumer as slaves.(this isn't new but what else besides a new internet law or something banning free speech) Patriot act, health care overhaul, financial reform is anything left? Groping at airports or tell on your neighbor instead of creating a friendship.

In the US no. Globally yes.

Gold is up $450 an ounce and silver is up $16 an ounce since I started this thread. (reflection of debasement to dollar)

If Geithner says the dollar will be always be the reserve currency of the world in his/our lifetime then he must be lying through his teeth.

Thank you for your informative posts cleaner. keep cleaning...

I will continue to work on this thread and I would ask that you rate the thread in the upper right area. The stars will appear if enough people rate the thread and that will help gather more attention. Thanks everyone.

Rate Thread

Rate Thread

Rate Thread

Silver and Gold
01-04-2011, 01:43 PM
Cleaner, Heres more recovery info




http://www.alternet.org/food/149337/food_emergency:_millions_of_americans_are_heading_ to_foodbanks_for_the_first_time_in_their_lives/?page=1

minermite
01-19-2011, 11:41 AM
http://www.reuters.com/article/idUSTRE70I46820110119

Recovery seen taking hold..

Cleaner44
02-10-2011, 04:29 PM
Febuary 10, 2011

FACTBOX-Fed officials' comments on the economy, policy
U.S. Federal Reserve Chairman Ben Bernanke and other Fed officials have painted a more modestly optimistic outlook for the economy in recent weeks.

With the U.S. central bank planning to purchase $600 billion in longer-term Treasury bonds through June to support the recovery, the policy debate is shifting to whether improved economic conditions should keep the Fed from further bond buying. [FED/R]

The following are recent comments from Fed policymakers (* denotes 2011 voting member of the Federal Open Market Committee, who sets U.S. monetary policy):

* FED CHAIRMAN BERNANKE, Feb. 9
The one million jobs gained since the end of the recession is "not enough to significantly erode the wide margin of slack that remains in our labor market ... Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established."
http://www.reuters.com/article/2011/02/10/usa-fed-comments-idUSN14EDQUOTE20110210

Cleaner44
02-10-2011, 04:35 PM
August 21, 2009

Bernanke: U.S. Economy Near Recovery
The world economy is starting to emerge from its deep recession, Federal Reserve Chairman Ben S. Bernanke said Friday, owing to aggressive action by the Fed and other policymakers...

..."The view that the financial crisis had elements of a classic panic, particularly during its most intense phases, has helped to motivate a number of the Federal Reserve's policy actions," said Bernanke. "Bagehot instructed central banks -- the only institutions that have the power to increase the aggregate liquidity in the system -- to respond to panics by lending freely against sound collateral."
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/21/AR2009082101273.html



Febuary 10, 2011

'US unemployment rate to remain high'
Chairman of the United States Federal Reserve Ben Bernanke thinks the unemployment rate in the country will remain high for several years.

“Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established,” a Press TV correspondent quoted Bernanke as saying...
http://www.presstv.ir/detail/164507.html

Cleaner44
02-23-2011, 04:49 PM
Febuary 23, 2011

Oil touches $100 a barrel, raising concern about recovery
Oil crossed $100 a barrel today and gasoline cost 4% more, prices not seen since the start of the financial crisis in October 2008. Analysts warned that the price shock could stall the global economic recovery...
http://content.usatoday.com/communities/ondeadline/post/2011/02/oil-touches-100-a-barrel-raising-concern-about-recovery/1

Cleaner44
02-23-2011, 04:52 PM
Febuary 23, 2011

Recovery still a ways off for U.S. housing market

Except in two cities where prices have hit bottom and are rising again ever so slowly, the nation's housing market still appears several quarters from recovery...
http://www.philly.com/philly/business/personal_finance/20110223_Recovery_still_a_ways_off_for_U_S__housin g_market.html

Cleaner44
02-23-2011, 04:55 PM
Febuary 23, 2011

Geithner Says World in Better Position to Handle Oil-Price Jump
U.S. Treasury Secretary Timothy F. Geithner said the economic recovery has put the world on a better footing to withstand the increase in oil prices caused by turmoil in the Middle East.

“The economy is in a much stronger position to handle” rising oil prices, Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things.”
http://www.bloomberg.com/news/2011-02-23/geithner-says-world-is-in-a-better-position-to-handle-surge-in-oil-prices.html

Cleaner44
02-23-2011, 05:00 PM
Febuary 23, 2011

Obama Economic Report Says U.S. Recovery Taking Hold Following Recession
The U.S. recovery is gaining a stronger footing after the loss of millions of jobs during the recession, even as the economy faces obstacles of still-high unemployment and an uneven global growth, according to an annual White House economic report to Congress.

“Growth has resumed, jobs are returning and unemployment is falling,” according to the report, signed by White House Council of Economic Advisers Chairman Austan Goolsbee and council member Cecilia Rouse.

Although the economy still faces “multiple pressures,” including continued weakness in the housing market and depleted state and local government budgets, it has been able to overcome these obstacles and expand, the report said...
http://www.bloomberg.com/news/2011-02-23/obama-economic-report-says-u-s-recovery-taking-hold-following-recession.html

Cleaner44
02-25-2011, 07:11 PM
Febuary 24, 2011

Obama Tells Panel of Advisers U.S. Recovery Is Challenged by Jobless Rate
President Barack Obama told the first meeting of his panel of outside economic advisers that the U.S. must deal with stubbornly high unemployment even as the recovery from the recession is well under way.

“The biggest challenge that we’re seeing right now is that unemployment is way too high,” Obama told the 23-member President’s Council on Jobs and Competitiveness yesterday. The advisory group, led by General Electric Co. chief executive officer Jeffrey Immelt, replaces the President’s Economic Recovery Advisory Board, which was headed by former Federal Reserve Chairman Paul Volcker...
http://www.bloomberg.com/news/2011-02-24/obama-says-jobless-rate-remains-challenge-for-u-s-recovery.html

Cleaner44
02-25-2011, 07:15 PM
Febuary 25, 2011

Q4 GDP Revised Down As Oil Threat Bubbles
Last year’s fourth-quarter rise in GDP wasn’t as strong as initially estimate, the U.S. Bureau of Economic Analysis reports. That’s discouraging for all the usual reasons, along with the fact that the economy needs all the momentum it can muster if there’s an oil-shock coming, courtesy of the turmoil in the Mideast.

As for the last three months of 2010, the U.S. economy grew at an annual rate of 2.8%–down from the initial estimate of 3.2%. Why the haircut? “The downward revision to the percent change in real GDP primarily reflected an upward revision to imports and downward revisions to state and local government spending and to personal consumption expenditures (PCE) that were partly offset by an upward revision to exports,” according to BEA’s press release...
http://wallstreetpit.com/63790-q4-gdp-revised-down-as-oil-threat-bubbles

Cleaner44
03-01-2011, 03:37 PM
March 1, 2011

Bernanke:Withdraw Stimulus Only When Recovery Self Sustaining
Federal Reserve Chairman Ben Bernanke said Tuesday that the Fed will begin to withdraw monetary stimulus "at an appropriate time" when it becomes convinced that the recovery is self-sustaining, employment is improving and inflation is approaching 2%, but gave no sense of when that will be.

Nothing he said in testimony on his semi-annual Monetary Policy Report to Congress indicated that he is inclined to begin tightening credit anytime soon.

Bernanke did suggest that the Fed's policymaking Federal Open Market Committee might be able to make a judgment about whether the recovery has become sufficiently sustainable to start firming policy "over the next few months."

But that comment came after he had told the Senate Banking Committee that it will likely be "several years" before unemployment is back to "more normal" levels and that the recovery can't be considered "truly established" until there has been "a sustained period of stronger job creation and after warning that sustained rises in oil and other commodity prices could have a negative impact on the economy...
http://imarketnews.com/node/27144

minermite
03-24-2011, 05:59 AM
http://www.reuters.com/article/2011/03/24/us-markets-global-idUSTRE71H0EB20110324?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+(News+ %2F+US+%2F+Business+News)