Posted on 11/08/2012 8:38:24 AM PST by whitedog57
Initial jobless claims fell by 8,000 to 355,000 last week, although Hurricane Sandy is hampering efforts to actually collect data on jobless claims. We will have to wait three to four weeks to see the real impact.
The Bloomberg Consumer Comfort index rose to its highest level since March, printing at -34.4. This may be the new normal since it indicates that 2/3rds of those surveyed are more pessimistic about their financial situation than are optimistic. In fact, 70 percent call it a bad time to spend money and 52 percent rate their personal finances negatively.
Now that the election has revealed little change in Washington DC (we still have Obama as President, the Senate is still under Democrat control and the House in still under Republican control), The Federal Reserve stands as the only source of policy support for a U.S. economy burdened by 7.9 percent unemployment and 14.6% U6 unemployment and partial unemployment). Look for QE3 (agency mortgage-backed securities purchases) to pass $ trillion.
Be advised, increasing debt only generates small increases in GDP. As in 45% in debt has only increased real GDP by 7.1% since January 2009.
While the US Treasury yields are down to 1.673%, a 1.2 basis point decline after yesterday’s 12 basis point decline, the European PIGS (Portugal, Italy Greece and Spain) all experienced 12 basis point or more increases in their 10 year sovereign yields.
(Excerpt) Read more at confoundedinterest.wordpress.com ...
Romney’s got a horse.
And a dog on the roof!
Oh, and lady parts.
Don’t bug me about facts, man.
...and that is what Democrats call a ‘good investment’.
But the inflation calculations are so @#($%$*-up that I have no trust about the "Real" GDP growth.
If the math holds true, I think I know how to get 14.2% growth in GDP. But I’m not sure a 90% growth in debt is worthwhile ... let’s wait and find out what Obama thinks.
It didn’t generate any growth. All the growth would have happened anyway. What it did was prevent greater growth.
“The 45% Increase in Debt Under Obama Generated Only 7.1% Real GDP Growth”
The title is a contradiction. There is nothing real about GDP that comes as a result of Borrowed Debt. It is not real because it has to be paid back. It is simply pulling demand forward at an even greater loss to the future.
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