The Federal Reserve, and all the other paper printing central banks, will 'save' us. Get the economy going. You'll see.
Posted on 11/01/2009 5:15:57 AM PST by Diana in Wisconsin
Its make-it or break-it time next week when investors look to the Labor Department's Unemployment Report for October, let's hope its good. With the market jumping 200 points in either direction on bascially "headlines" this week, the October payrolls report that is delivered next Friday (Nov 6th) could really jolt the system.
Even as other parts of the economy show signs of stabilizing, rising unemployment may keep overall wages and benefits subdued and weigh on consumer spending. The U.S. has lost 7.2 million jobs since the recession began in December 2007, and the government is scheduled to release the October payrolls report on Nov. 6.
Just imagine if the numbers are worse than what analysts expect or worse yet, disappoint Wall Street. The Recession may be on the mend, its great news that GDP improved, but what about new jobs?
Without jobs you can't expect consumer spending to increase, let's not forget that wonderful figure 'consumer spending' accounts for almost 70% of our Nation's GDP.
Less jobs = less spending.
Next Friday (Nov. 6th) could either be a sweet day for the Bears or Bulls, but at this point, you've got to side with the Bears.
Why say that? Andrew Smithers says U.S. Stocks Overpriced by About 40% from last Friday. The U.S. stock market is anything but cheap, analyst Andrew Smithers asserts. According to his calculations, U.S. stocks are overpriced by about 40%. "That doesn't mean markets won't keep rising given the tsunami of liquidity unleashed by the world's central banks, but it should give investors some pause for thought, even if they keep backing the momentum trade."
(Excerpt) Read more at news.google.com ...
Dorks.
The unemployment report has GOTTA be positive, right?
Didn’t Joe Isuzu oops I mean Biden just tell us the most ethical administration of all time simulated 600,000 $92,000/year jobs into existence?
He never lies.
Uh...where’s mine, then? LOL!
Can’t be....We’ve already been saved....Can one be saved twice??
Just looking at the October statement at your link and it included the following:
“The largest job losses were in construction, manufacturing, retail trade, and government.”
Now, if the stimulation was doing anything wouldn’t it be reflected in at least three of those four?
Yep. Well worth reminding everyone about that at every turn. Sadly, I don’t see much ‘strategery’ on our side...
True, but the thing is they don't want the serfs waking up to that fact too soon before their nationalization of healthcare is complete. Keep the sheeple fooled with the hope/change thing till after the midterms, then once the socialists are retained, it's too late.
These midterms are really our last chance.
I do not believe your premise has merit simply because the ramifications at the political level would be far more immediate than any long term nefarious "plot."
I’m in retail. October was our worst month ever for each of our five stores...and our company has been in business for nearly 105 years.
We’ll have a little uptick at Christmas, but January and February are going to be very lean months for us. We’ll use a core staff of four to run the whole operation during those months.
OTOH, I was 60K ahead in sales from last year, so we do have a little cushion to sit on while it’s slow. ;)
“The Recession may be on the mend, its great news that GDP improved, but what about new jobs”?
...who the hell writes this tripe?! On the “mend”?! When the “cash for clunkers” debacle is shed from the GDP, we’ll see what “great news” they’ll be writing about. And “new jobs”!? The “green” sector maybe?~sarc
Now, if the stimulation was doing anything wouldn’t it be reflected in at least three of those four?
Don't forget the administration's larger conncern is that the "Stimulus Shouldn't Only Aid 'White Male Construction Workers"
For today...Sunday, Nov. 1, I will file my first (of many many) claim for unemployment insurance.
Hurrah!
We agree to disagree.
A born-again-born-again recovery?
hh
The Federal Reserve, and all the other paper printing central banks, will 'save' us. Get the economy going. You'll see.
by: Sold At The Top November 01, 2009
Do you have a plan B? A MUST WATCH… last night’s Frontline. Aw Shucks… poor bastards on the upper-east side.
The White House says it has already “saved or created” 650K jobs... only problem… since just this January, 3.386 million jobs have actually been lost and the losses are continuing… Jared Bernstein says the figure is closer to a million jobs “saved or created” and adds
It's a great example of the unprecedented transparency, where the American taxpayer can point and click and see their taxes creating jobs … you have to understand the nature of Keynesian stimulus
… I say it’s a new low for government falsehoods and propaganda and so does the AP.
If they can’t manage their own finances why should they be influencing yours?
J.P Morgan Analyst James Glassman thinks unemployment could trend down this winter… He also predicted back in 2000 that the DOW would reach 36,000 and wanted to help you profit from it.
[snip]
I’m sorry. I find it very difficult to read anything that uses “its” for “it’s” multiple times in the first sentence/paragraph.
This might be one reason the extension of unemployment benefits is stalled in Congress. The extension might add just enough "still unemployeds" to push it over that figure. If they let it die, those unemployeds drop off the and reduce the Administrations figures.
>> Uh...where’s mine, then?
Don’t worry, your $92,000 Stim-U-Job is probably in the mail. Maybe next week.
...uh, they don’t know you’re a conservative... do they?
I ALMOST corrected that when I posted it...but I was pretty sure some smarty-pants Freeper would catch it. I like to give FULL credit to the MORONS that are preachin’ to us these days from their hallowed halls...or newsroom ‘rat cubicles.
I made your day. Admit it! Admit it! LOL! :)
“...uh, they don’t know you’re a conservative... do they?”
Never. I’ve been foolin’ them for years. I look like the best and brightest patchouli soaked, flower-print dress-wearing, unshaved sandal scuffin’ goober you’d ever want to meet. ;)
It’s much more fun to be a covert ‘Conserve’-a-tive. ;)
In fact, I think I offended a Hippie customer at work today. He was looking for some sulfur to use to soak up the CF bulb he broke. Seems he was concerned about the mercury release in those CF bulbs and ‘heard’ that sulfur would pick that stuff right up off his floor before the kids or dog got into it.
When I commented about what a shame it was that they’re forcing CF bulbs on us when it’s going to be a major nightmare of mercury pollution down the line, he said, “Oh, it’s just a little bit. It won’t hurt anyone. Ending Global Warming will be SO worth it!”
What. A. Clueless. Dork.
Eh. I made seven bucks off of him today. So be it. :)
I'm filing my third tonight...
A good friend of mine is a CPA with 15+ years Big 4/Regional firm experience, plus over 5 years CFO experience. He's had zero, zip, nada, calls since he was laid off three weeks ago.
Me? No Big 4, but I've been told several times over the past two months that my resume is "too strong".
I'm seriously thinking about getting bartender training.
If you can handle the blood and whinning, get training in something medical. It’s the new growth field.
Good idea...I'm thinking about it.
I can handle the blood and whining...I've got three kids.
I myself am too old and too poor to go after "training".
And....even if I could afford it, by the time I finished any kind of useful training, I'd be dead.
And...even if I weren't dead, if I'm too old to be employable now, by the time I finished any kind of useful training, I'd be older still!
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