Won't they?
Mostly, no.
Posted on 10/18/2009 7:11:36 AM PDT by SeekAndFind
Well, if it's in the Times, it must be true, right?
Floyd Norris:
Over all, the surveys indicate that the manufacturing sectors of China, Taiwan, South Korea and India had begun to grow by April, but that the United States did not follow suit until August.
In Europe, France is reporting growth, and Britain is hovering near the midpoint, indicating the deterioration has stopped but growth has not yet begun. Although the German government estimates that its gross domestic product rose in the second quarter, the manufacturing survey indicates continued weakness in that country.
New orders and production have turned positive everywhere but in the three European laggards, Spain, Ireland and Italy. Spain and Ireland have been badly hurt by collapses in real estate markets, which had boomed, in part, because of easy credit. Mr. Williamson attributed some of Italy's problems to a lack of confidence in its government's ability to deal with problems.
But employment continues to lag in most countries outside of Asia. Mr. Williamson said he estimated that total job losses in the major developed countries - the United States, Britain, the euro zone and Japan - bottomed out at 1.9 million a month in March and are now about 500,000 a month. While many companies are still hesitant to hire, he says he thinks employment will begin to grow by the end of this year.
Ed Lasky adds:
Furthermore, would we have seen this story-and the interpretation-if George Bush (or any Republican ) was in the Oval Office? Obama is struggling in the polls. People are skeptical about health reform while the economy is so weak and recovery is tentative. How to fix the environment for him. Gin up a story that happy times are her again. I have been reading the Times for decades and don't recall this type of analysis in past years.
Norris doesn't get out of New York much, does he. If he did, he would know that this depression is still bleeding jobs, while new business activity is at a near standstill and no one dares hire anyone unless absolutely necessary. That's because nobody is sure what that new employee is going to cost. New regulations, health care, and general uncertainty is causing even those businesses not treading water to hesitate in hiring anyone.
Note the slight uptick in manufacturing that has now begun to tank again. We are in real danger of deepening this recession unless something is done to spur growth. That something, of course, is targeted tax cuts. But Democrats are refusing to concede that the GOP is right and their "stimulus" ideas are all wrong.
In short, they'd rather see more people lose their jobs than admit that they bollixed things up even more.
If we have double-digit unemployment, and the MSM says that everything is all better, people are going to start waking up.
Won't they?
Would anyone claim to have one the war against the barbarians despite the fact that the cloud on the horizon is another 10 million coming to fight?
They pull some very weak and slanted “technicals” numbers to build a false case.
The fundamentals are in the tank.
The banking system is about to implode.
The dollar has been strung up by globalists, the noose is tightening, and they’re about to slap the horse on the ass.
Stock up, my FRiends. We are being set up for the biggest pump-and-dump of all times.
They pilloried W when he said we were in a recession during the 2000 debates. They said that he is going to, “talk down the economy.”
See how they never change their tricks?
W was right. The tech bubble had burst. Slick Willy wanted to create the lie of “8 years of peace and prosperity,” so he enforced the Community Reinvestment Act to create a housing bubble that would inflate through the duration of his term.
W knew back then what had happened. The MSM was covering for the communists, as they always do. When a Republican dared mention it, they make the absurd claim that HE was going to cause a recession merely by mentioning it. That way, if a recession had come, they could blame it on W and not Slick “I sold missile-guidance technology to the Communist Chinese” Willy.
Then, in 2008, they turn around and do everything they can to “talk down the economy” in order to get a communist in the White House. They even go so far as to move some 2-300 billion dollars out of the money markets on Sept. 17. This led to a run on people doing the same so that by the end of the day, nearly 500 billion had disappeared, thus evaporating most of the “commercial paper” that businesses use to finance short-term business.
The MSM is actively complicit in a tyrannical overthrow of our government.
I’m sure that they were up all night at the Ministry of Truth correcting the historical record. After all, we’ve always been at war with Eurasia.
The US will be a laggard in any global economic recovery, due to the drag of Baraqqi socialisism.
Unfortunately SCM seems to be on the way to redefining 10% unemployment as the “new normal”.
I think the Propoganda forces are going to find that it’s easier to convince people things are bad when they are good than it is to convince them things are good when they are not.
People tend to want more, so to constantly be told “It could be better” isn’t hard. But when people are geniunely terrified and doing without, you can’t say “Things are looking up!”
We’ve heard that for 9 months and the lie is starting to wear thin. Even for those who had a gullet full of ‘hope’.
First off, the economy does not turn on Wall Street or the banks. Neither entity can exist without consumer spending.
Reality: Unemployment continues apace. This is because there is significantly diminished demand—over 10% (even if one believes that number) of the workforce is unemployed. Moreover, the electric generating industry has seen demand plummet by 20%. It expects at least another 20% decline over the next 9 to 12 months. Demand for freight rail cars is down over 10%. Demand for ocean shipping tonnage is down at least that much. Home foreclosures continue a apace. Bank failures continue a pace. The Dear Leader continues to run the deficit up with abandon.
Meanwhile, waiting in the wings is an expected collapse of commecial real estate beginning in the next 9 to 12 months. And of course, inflation due to deficit spending is also expected to raise its head over the next 12 months.
So what is it that doesn’t compute?
Oddly, all this negative info is out there. But too many people, the so-called economic pundits and The Dear Leader simply choose to pretend it’s not there.
I wish it were otherwise—I’m trying to sell my house and I’m invested in the stock market. But I’m not gonna blow smoke up my butt simply because I want this living nightmare to go away.
Won't they?
Mostly, no.
In the same place with you. Agree completely. Want this nightmare to end
Sorry, my friend. It is complete fraud.
Goldman-Suchs is using HFT to pump the market up. It also appears that they received cash handouts from the Fed and the PPT in order to trade with. All of this was done for two reasons: 1. the Fed Reserve helping out part of the central-banking cartel to recoup some of their losses and 2. to manipulate the DJIA to make it appear to be booming.
The short of it is that the dollar is being assassinated. So all of the “green shoots” are irrelevant.
If you want to keep tabs on what is happening in the financial sector, read Karl Denninger’s market-ticker. I don’t always agree with him, but he provides more than enough information to understand that the banking system is already dead, but they’ve (the federal government by not investigating and prosecuting outright fraud and the Federal Reserve, America’s central bank that is in association with the other central banks of the world who, similarly, have no national allegiance) propped the corpse up like Bernie in Weekend at Bernie’s.
Let’s not forget that GS and JPM worth both recipients of bailout money. They damned well ought to report some positive earnings after that. What is alarming is how much of OUR money they’ve been given and how little impact it has had in pulling them out of the red.
This ought to be alarming:
http://apnews.myway.com/article/20091017/D9BCKOP81.html
Also, the fact that there were 1,000,000 foreclosures in three months when the average is 160,000 per year ought to tell you something about the true state of our economy and how that true state is going to impact the banking industry.
Denninger estimates that there are over 1,000,000 homes that are currently or about to be in default and that SHOULD be foreclosed upon but are not. The reason? The bank is allowing the homeowners to stay in their home and not pay a cent — not because they are so compassionate — but because as long as they do NOT foreclose, the banks can mark those mortgages a assets. Once they foreclose, they have to take the mark as a liability. This is fraud, and it is skewing the banking stats horribly.
The floggings will continue until morale improves.
The recession IS over. Just ask Wall Street.
Yes, yes!!!!
The recession is over and we are starting into the depression!
Could someone please tell me "WHO STOLE OUR GREEN SHOOTS?"
The foreclosure moratorium is ending and there is a flood of foreclosures about to hit the banks plus for closures of commercial real estate is about to commence.
I haven't noticed much reportage of declining revenues during "earnings week". The money shows crow about increased earnings, while paying lip service to companies' falling revenues.
Not much blood left in the turnips, if you ask me.
It will really hit the fan when sales crater during Christmas. There's going to be some really great bargains the last week of December. I'm praying that my wife will wait until the last minute.
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