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Keyword: recovery

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  • Prayer Request

    06/15/2015 6:20:21 AM PDT · by Oratam · 16 replies
    Vanity | June 15, 2015 | Oratam
    I'm asking Freepers to pray for my friend Bridget who had surgery a little more than a week ago to remove a cancerous tumor growing on her pancreas that was affecting that organ as well as her liver and gallbladder. Had it not been for the surgery, she was sure to die in months if not weeks.The surgery performed, known as The Whipple Procedure, is major surgery and has a high morbidity rate. Fortunately, it was performed by the best possible surgeon, Dr. John Chabot of Columbia-Presbyterian.Still, her recovery has been problematic. In addition to the pain, a few of...
  • The "Illegal Immigrant" Recovery? The Real Stunner In The May Jobs Report

    06/06/2015 7:12:10 PM PDT · by SeekAndFind · 11 replies
    Zero Hedge ^ | 06/06/2015 | Tyler Durden
    Traditionally, when it comes to job numbers reported by the BLS's Establishment (the source of the monthly nonfarm payrolls change) and Household (the source of the monthly unemployment rate data) surveys, there is a substantial discrepancy. However, in May's far stronger than expected report, the two for the first time were almost identical: the Establishment Survey reported an increase of 280K jobs, while according to the Household survey 272K jobs were added. Impressive numbers in a month in which only 215K jobs were expected to be added. There were the usual kinks, of course. Two thirds of all jobs,...
  • Obama: I should have said that the recovery would take a really long time in 2008

    04/11/2015 5:22:22 AM PDT · by SeekAndFind · 37 replies
    Hotair ^ | 04/11/2015 | NOAH ROTHMAN
    Regrets, he’s had a few. But most of them have had to do with the rosy picture he painted of what the economy would look like following a swift infusion of “Obamanomics.” The president spent much of his time on the post-campaign campaign trail in 2009 promising that the unprecedented sum of money passed by Congress as part of the American Recovery and Reinvestment Act (the stimulus) would have a speedy and positive effect on the economy. Roads, bridges, and “shovel-ready” jobs would quickly put Americans back to work. When that massive sum of borrowed money failed to have...
  • Europe Is Suddenly Booming This Is Why

    03/24/2015 11:15:09 AM PDT · by blam · 17 replies
    BI ^ | 3-24-2015 | Mike Bird
    Mike Bird March 24, 2015Things are finally looking up again for Europe. The pace of the eurozone's sudden improvement across a bundle of economic indicators has shocked analysts since the turn of the year. But there has been a rapid turnaround from gloom to boom in just a few months. What's going on? As recently as Autumn, everyone thought Europe was bogged down in a protracted perma-recession, characterised by deflation, lack of GDP growth and continent-wide political paralysis. Here's what's going on, and why. (snip)
  • A Recovery Waiting to Be Liberated

    03/05/2015 1:22:29 AM PST · by iowamark · 10 replies
    Wall Street Journal ^ | March 3, 2015 | John B. Taylor
    Hope flickered last year when the economy grew at more than a 4% clip in the second and third quarters. But then came last weeks news that fourth-quarter growth slowed to 2.2%, a gloomy revelation that the rebound was temporary. Economic growth for 2014 clocked in at about 2.3%the same disappointing pace since the recession officially ended in 2009. What is the problem? For years I and many others have argued that a return to the principles of economic freedom would convert this not-so-great recovery into a great one. But Washington has not seriously considered pro-growth policyno tax reform to...
  • The US recovery story is a fraud?

    02/27/2015 8:49:51 AM PST · by alexmark1917 · 18 replies
    Most US economic data missed expectations in February. And that investors are sending stocks to all-time highs is making Societe Generale's Albert Edwards crazy. In a note Thursday, Edwards wrote: "With equity markets galore hitting record highs clearly I must be missing something big! We are at that stage in the cycle where I begin to doubt my own sanity. Ive been here before though and know full well how this story ends and it doesnt involve me being detained in a mental health establishment (usually)." From Janet Yellen's testimony on Capitol Hill earlier this week, Edwards points out that...
  • Recovery? The World Eases...

    02/25/2015 2:00:46 PM PST · by alexmark1917 · 3 replies
    Despite endless proclamations that the world has 'escaped' the financial crisis, the data (and actions) simply do not back that up. The constant propagandizing of either a) US is economically strong and will drive the world's growth engine (factually incorrect), or b) the rest of the world is about to revert to higher growth seems entirely anathema to the fact that in 2015, we have seen a wave of monetary easing - most recently today by Israel. That makes it20 central banks that have cut rates (or eased policy) in the last few weeks - covering over 50% of the...
  • Gallup condemns Obama's unemployment numbers as a blatant 'lie'‏

    02/04/2015 4:48:29 PM PST · by aquapub · 25 replies
    Conservative Examiner ^ | February 4, 2015 | Robert Moon
    Gallup CEO Jim Clifton denounced the White House and the news media on Tuesday for wildly misinforming the public on the current unemployment numbers. According to the report, Obama's overtly dishonest and partisan Labor Department has once again published "extremely misleading" figures that deliberately misrepresent the nation's unemployment rate as significantly better off than they are...
  • Reaganomics Beats Obama's 'Middle Class Economics' By A Country Mile

    02/02/2015 5:10:46 AM PST · by IBD editorial writer · 10 replies
    Investor's Business Daily ^ | 01/30/2015 | IBD Staff
    Growth: President Obama has taken to touting his "middle class economics" as a big success. That's difficult to believe, given the latest GDP numbers, and impossible when you look at his complete record.
  • We hold each other up: NCTC softball team returns after tragedy [lst game since 4 players killed]

    01/30/2015 10:44:36 PM PST · by Colofornian · 1 replies
    DallasNews.com (Dallas Morning News) ^ | June 30, 2015 | Kate Hairopoulos
    GAINESVILLE The North Central Texas College softball team lined up on the third-base line Friday afternoon, each player resting her hand on the shoulder of the teammate in front of her. They stood like so, heads of ponytails and braids bowed, their red jerseys bold against the January gray, in a public moment of silence. The sting of grief has become familiar for this team since an 18-wheeler plowed into the Lady Lions team bus last September, killing four players, none yet 21. All 15 of the players riding in the bus and coach Van Hedrick, who started the...
  • The US Economy Continues To Look Stronger And Stronger

    01/26/2015 10:09:04 AM PST · by blam · 21 replies
    BI ^ | 1-26-2015 | Sam Ro
    Sam Ro January 26, 2015There's nothing wrong with using a little borrowed money to finance purchases. For businesses, financing with debt is cheaper than financing with equity. One of the things that's dragged on the economic recovery has been the deleveraging of consumer and business balance sheets. Specifically, everyone scaled back on the amount of debt they held, which means their assets shrank, too. However, that trend has reversed noticeably. "The Feds weekly bank lending data (released Friday) shows a continued acceleration in credit growth in the first two weeks of 2015, see chart below," Deutsche Bank's Torsten Slok said....
  • The ironies of oil

    01/04/2015 6:24:27 PM PST · by arthurus · 9 replies
    Jewish World Review ^ | Jan. 2, 2015 | Victor Hanson
    In the vice presidential debates of 2008, Joe Biden mocked Sarah Palin for the supposedly mindless campaign mantra of "Drill, baby, drill." Biden intoned that, "It will take 10 years for one drop of oil to come out of any of the wells that are going to be drilled." The energy secretary-designate, the professorial Steven Chu, in 2008 had unwisely voiced a widely held but wisely unspoken progressive belief that, "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe" -- or about $9 a gallon.
  • Only Stocks Are Left Minding The Recovery

    01/03/2015 10:34:10 AM PST · by SeekAndFind · 7 replies
    Allhambra Investment Partners ^ | 01/03/2015 | by Jeffrey P. Snider
    If I had to define the recovery period that developed after the trough in the Great Recession, it would have ended sometime in the middle of 2011. Up to that point, there was almost a uniform behavior in financial and even economic accounts (though, on the economic side, there was much left to be desired). It was by no means uneventful, as you would like in recoveries, but that was as much a systemic and structural problem as anything to do with cycle. That ragged end, as new doubts essentially replaced widespread hope, remains with us in a series of...
  • US Debt Soars By $100 Billion On Last Day Of 2014, Hits Record $18.14 Trillion

    01/02/2015 2:41:00 PM PST · by blam · 42 replies
    Zero Hedge ^ | 1-2-1015 | Tyler Durden
    Tyler Durden 01/02/2015 It seems like it was only yesterday when we reported that, in yet another slight of hand for the US Treasury and Social Security Administration, US debt rose by $32 billion on the last day of November sending total US debt above $18 trillion for the first time ever. As we further noted, it also meant "that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently." Fast forward to today when we are happy to report that according to the US Treasury, America's debt-funded spending...
  • Paul Krugman: The Obama Recovery

    12/29/2014 7:16:21 AM PST · by SeekAndFind · 21 replies
    New York Times ^ | 12/29/2014 | Paul Krugman
    Suppose that for some reason you decided to start hitting yourself in the head, repeatedly, with a baseball bat. Youd feel pretty bad. Correspondingly, youd probably feel a lot better if and when you finally stopped. What would that improvement in your condition tell you? It certainly wouldnt imply that hitting yourself in the head was a good idea. It would, however, be an indication that the pain you were experiencing wasnt a reflection of anything fundamentally wrong with your health. Your head wasnt hurting because you were sick; it was hurting because you kept hitting it with that baseball...
  • Welcome To The Recovery: US Box Office Spend Plunges To Lowest Since 2000

    12/22/2014 7:26:22 PM PST · by Nachum · 80 replies
    zero headge ^ | 12/22/14 | tyler durden
    While the cancellation of 'The Interview' wiped billions off the US Box Office take in 2014 (), ticket sales in North America will total roughly $10.5 billion, according to The NY Times, the lowest since 2000 (after inflation). Regal Cinemas and AMX Theatres have seen profits collapse and Carmike Cinemas has plunged to a loss as major movie delays (from Pixar and Universal), "pirating" of several movies (The Expendables 3 and Annie) before their release, and studios suffering one dud after another (Warner Bros.) the 4% YoY decline - for what is ultimately an affordable luxury - suggests the gas-price-savings...
  • Industrial Production Explodes In November

    12/15/2014 7:08:00 AM PST · by blam · 8 replies
    BI ^ | 12-15-2014 | Myles Udland
    Myles Udland December 15, 2014Industrial production had a huge rebound in November. Industrial production rose 1.3% in November according to the latest report from the Federal Reserve. Expectations were for the report to show industrial production rose by 0.7% in November, better than October's 0.1% contraction. October's number was revised up to 0.1% from -0.1%. Capacity utilization also rose sharply, to 80.1% from a revised reading of 79.3%. Capacity utilization was expected to rise, to 79.4% from 78.9%. This rate of capacity utilization is now equal to its long-run average spanning 1972-2013 and hit its highest level since March 2008....
  • How Long Can the Top 10% Households Prop Up the "Recovery"?

    10/31/2014 10:47:32 AM PDT · by SeekAndFind · 11 replies
    Of Two Minds ^ | 10/31/2014 | Charles Hugh-Smith
    The question of "recovery" really boils down to this: how much longer can the top 10% prop up the expansion? A flurry of recent media stories have addressed housing unaffordability, for exampleWhy Middle-Class Americans Can't Afford to Live in Liberal Cities. The topic of housing unaffordability crosses party lines:Housing Ownership Back to 1995 Levels(U.S. Census Bureau). Other stories reflect an enduring interest in the questions,what is a living wage?andwhat is a middle-class income?These questions express the anxiety that naturally arises from the sense that we're sliding downhill in terms of our purchasing power--a reality that is confirmed by this chart:...
  • Obama's Latest Speech About The Economic "Recovery" Results In Mass Audience Exodus (Video)

    10/20/2014 1:22:14 PM PDT · by SeekAndFind · 23 replies
    Zero Hedge ^ | 10/20/2014 | Tyler Durden
    Yesterday, Obama made a rare campaign trail appearance in Maryland where he spoke in support of Democratic candidate for governor, Anthony Brown, proceeded with his usual bulletin of reading fabricated economic data off the teleprompter in which he highlighted improvements in US unemployment (if not the 46.5 million people on foodstamps or the 93 million Americans out of the labor force), a rebounding housing market (just as the bouncing dead cat is once again dead), the benefits of health insurance (if no mention of the disaster for small businesses that Obamacare now definitively is) a resurgent manufacturing sector (just...
  • Dying Man Reunited with Beloved Dog Makes Complete Turnaround

    10/19/2014 1:30:08 PM PDT · by Sean_Anthony · 15 replies
    Canada Free Press ^ | 10/19/14 | Jerry A. Kane
    Tail-wagging love really does conquer all: James Wathen, a terminally-ill patient at Baptist Health Corbin in Corbin, Kentucky, had stopped eating and had become weak and frail. His condition kept deteriorating, and he was barely able to talk. Wathen managed to whisper to a nurse his wish to see his dog, Bubba, just one more time. The 73-year-old hadnt seen his one-eyed Chihuahua with no bottom teeth since he arrived by ambulance at the Whitley County hospital six weeks earlier. One of our social workers realized it was mourning the loss of the dog that was making our patient even...
  • Lower oil prices are unambiguously good

    10/17/2014 9:03:36 PM PDT · by Abakumov · 41 replies
    Human Events.com ^ | October 18, 2014 | Larry Kudlow
    Steep stock market corrections often create shrouds of pessimism that do bad things to peoples brainpower. And one of the absolutely stupidest things I have heard in recent weeks is that the recent drop in oil prices is bad. You heard me right. Serious people on financial television are saying lower oil prices are a signal of worldwide economic collapse. Here at home that translates to recession, deflation, a profits collapse and rising unemployment. Ive been around for a while, and Ive seldom heard such gibberish. The latest stock market scare stems from a bunch of fears such as...
  • The U.S. Economic Recovery Is Still On Food Stamps

    10/16/2014 7:08:40 AM PDT · by SeekAndFind · 19 replies
    RCM ^ | 10/15/2014 | Riobert Doar
    Something peculiar is happening to our nation's food assistance program. The recently renamed food stamp program - now called the Supplemental Nutrition Assistance Program or SNAP - is supposed to respond to difficult economic conditions by providing financial assistance to purchase food to poor Americans. As bad times hit and more people need assistance, SNAP caseloads should go up. And as the economy strengthens, the number of SNAP recipients should decline - at least in theory.For most of the history of the program, that is what happened. As the accompanying chart shows, from 1969 until 2003, SNAP has been very...
  • How about a little optimism?

    10/10/2014 9:01:56 PM PDT · by Abakumov · 9 replies
    Washington Times ^ | October 11, 2014 | Lawrence Kudlow
    So President Obama gives a major economics speech toward the end of last week, and the next week stocks get clobbered. It was the worst correction in many months. There's probably no direct cause and effect here. But it's worth noting that the president has been speaking out of all sides of his mouth during the market volatility. In that speech a week ago he swore that he's not anti-business. He said, "I actually believe that capitalism is the greatest force for prosperity and opportunity the world has ever known." You know, that sounds a lot like my opening line...
  • Global Leading Indicator Plunges To Economic "Slowdown", Goldman Warns

    09/21/2014 7:01:39 PM PDT · by blam · 9 replies
    Zero hedge ^ | Tyler Durden
    Tyler Durden 09/21/2014 Just two short months ago, Goldman Sachs was exuberant over the 'expansion' signals that the firm's Global Leading Indicator Swirlogram was exhibiting as it confirmed their 'economists' expectations that the Keynesian hockey-stick of hope would once again re-appear majestically in H2 2014 and lift America (and the world) to escape velocity. That dream is over. Confirming the collapse of world GDP expectations, Goldman's GLI has plunged into 'slowdown' with momentum starting to slow. Perhaps, just perhaps, as we noted previously, this time is not different and the annual cycle of extrapolating early-year hope is rapidly turning to...
  • For 90% Of Americans: There Has Been No Recovery

    09/11/2014 7:03:28 AM PDT · by SeekAndFind · 23 replies
    Street Talk Live ^ | 09/11/2014 | Lance Roberts
    Every three years the Federal Reserve releases a survey of consumer finances that is a stockpile of data on everything from household net worth to incomes. The 2013 survey confirms statements I have made previously regarding the Fed's monetary interventions leaving the majority of Americans behind: "While the ongoing interventions by the Federal Reserve have certainly boosted asset prices higher, the only real accomplishment has been a widening of the wealth gap between the top 10% of individuals that have dollars invested in the financial markets and everyone else.What monetary interventions have failed to accomplish is an increase in production...
  • U.S. consumer spending falls for first time in six months

    08/29/2014 5:47:16 AM PDT · by Oldeconomybuyer · 7 replies
    Market Watch ^ | August 29, 2014 | By Jeffry Bartash
    Consumer spending fell in July for the first time in six months, as Americans cut back on purchases of new cars and other retail goods, the government reported Friday. The drop in spending was a bit of a surprise: economists polled by MarketWatch had predicted a seasonally adjusted 0.1% increase. The growth in incomes, meanwhile, slowed to 0.2% pace in July from 0.5% in each of the prior two months. It was the smallest gain since December and also below Wall Street expectations.
  • What States are the Biggest Job Winners and Losers in the Recovery?

    08/18/2014 6:36:36 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | August 18, 2014 | Mike Shedlock
    The Deloitte University Press has a very interesting, and comprehensive study on job gains and losses, by type of job, and state by state. The biggest winners are states involved in energy production, finance, or healthcare. The biggest losers are states that did not recover from the real estate bust, or lost population due to emigration. With that overview, let's dive deeper into the Geography of Jobs. Only now, as we reach the fifth anniversary of the end of the recession, has employment in the United States finally regained its pre-recession peak. The national story of slow recovery obscures the...
  • President Says Were Better off on Practically Every Economic Measure

    07/28/2014 6:24:35 AM PDT · by John Semmens · 24 replies
    Semi-News/Semi-Satire ^ | 25 July 2014 | John Semmens
    In an interview on CNBC this past week President Barack Obama boasted that his programs have made America better off on practically every economic measure. He contended that the seemingly negative outcomes cited by my critics stem from false consciousness. From a broad perspective lets consider the declining participation in the workforce that many in the GOP harp on, Obama suggested. Work, as any economist will tell you, is a disutility. People dont work because they want to. They work because they have to. The fact that a growing number of Americans can live their lives without having to work...
  • Has President Obama Had Any Impact on the Stock Markets Success?

    07/26/2014 8:29:09 AM PDT · by Kaslin · 39 replies
    Townhall.com ^ | July 26, 2014 | Mark Skousen
    I received a note the other day from a social Democrat, who wrote: When Obama came to power the Dow Jones Industrial Average was 7,900, today it is over 17,000. When he came to power, the Federal Budget deficit was 11% of gross domestic product (GDP), today it is 2.8%. When he came to power, the economy was in a free fall and losing 8 million jobs, today it is growing and all the lost jobs have been recovered. We are poised today to become the greatest energy producer in the world and North America will produce more oil and...
  • The Brilliance of Obamanomics

    07/23/2014 6:56:45 AM PDT · by Kaslin · 2 replies
    Townhall.com ^ | July 23, 2014 | Michael Schaus
    Brace yourself Skepticism, doubt and criticism of Obamanomics (all of which are, undoubtedly, based in racism) will be cast aside. Why? Because, according to the 20-something-year-old White House intern that is in charge of the official White House twitter account, Our businesses have added nearly 10 million new jobs over the past 52 months. I know, right? Pretty awesome statistic. (Gloss over the fact that the President is referring to private enterprise as our businesses.) But before you rush out to slap an Obama 16 sticker on your car (are those stickers available yet?), you may want a little bit...
  • Detroit showing signs of recovery ahead of bankruptcy trial

    07/21/2014 9:48:56 AM PDT · by SeekAndFind · 60 replies
    The Guardian ^ | 07/21/2014
    Detroit neighbourhoods are being relit, its vacant homes are being sold off or torn down, its public transportation is cleaner and more often on schedule and the city has renegotiated some burdensome union contracts. In the little more than a year since the state-appointed emergency manager, Kevyn Orr, made Detroit the largest US city to seek bankruptcy protection, it has experienced a wide range of improvements that will factor into Judge Steven Rhodes's decisions during next month's bankruptcy trial. A major piece of the bankruptcy puzzle could fall into place on Monday, with the expected release of the results of...
  • The New Republic: Recovery Summer May Finally Have Arrived

    07/04/2014 5:48:29 AM PDT · by SeekAndFind · 39 replies
    The New Republic ^ | 07/04/2014 | By Danny Vinik
    <p>For the past few years, it was like clockwork: A disappointing summer of job growth would give way to a much stronger winter. Economists would hesitantly forecast that the economy was about to kick into second gear. Then the summer would come and the disappointing data would return. But finally, looks like we're ready to break that trend: The economy added 288,000 jobs in June, soundly beating economists expectations of 211,000, and the unemployment rate fell to 6.1 percent.</p>
  • GDP shrinks 2.9%; Obama's economic growth gap grows to $1.6 Trillion

    06/26/2014 4:09:07 AM PDT · by IBD editorial writer · 20 replies
    Investor' Business Daily ^ | 06/25/2014 | IBD Staff
    Shrinkage: Economists are writing off the sharp 2.9% drop in first-quarter GDP as a temporary contraction. Maybe. What isn't temporary is President Obama's massively subpar growth record over the past five years. [snip] In the nearly five years since the Obama recovery started just months into Obama's first term real gross domestic product has increased only 10.2%. That's less than half the average growth rate for every other economic recovery since World War II, and almost a third less than the pace set during the Reagan recovery. Looked at in dollar terms, if the Obama recovery had merely...
  • CNN Money Reaction to 2.9% GDP Drop: 'This Recovery Is Underway'

    06/25/2014 8:07:31 AM PDT · by PJ-Comix · 40 replies
    NewsBusters ^ | June 25, 2014 | P.J. Gladnick
    Hooray! The Gross Domestic Product shrank by 2.9% in the first quarter of the year. "This recovery is underway." Your humble correspondent was very careful to put the previous sentence in quotes because I don't want you to think I've taken leave of my senses. This amazing conclusion comes to us courtesy of CNN Money spinmeister Annalyn Kurtz who starts out on a rather gloomy note but manages to spin her way into economic joy:
  • Americas Top Metros: Whos Leading the Recovery, and Why

    06/20/2014 6:58:31 AM PDT · by SeekAndFind · 7 replies
    Manhattan Institute ^ | 06/20/2014 | Tom Gray and Robert Scardamalia
    In a slow, uneven economic recovery, some cities have managed not only to survive but even to thrive. Their stories, along with those of the not-so-successful, are the subject of this study. Using data since 2009 for the nation’s metropolitan statistical areas (MSAs), we identify leaders and laggards as measured by growth in economic output (GDP), personal income, and jobs. Among the 100 largest MSAs—which together make up about two-thirds of the nation’s population—we take a detailed look at the top 20 and bottom 20 economic performers. For each of these metros, we examine a number of factors that may...
  • 11 Million On Disability: Why Are Rolls Rising So Fast?

    06/17/2014 6:42:54 AM PDT · by IBD editorial writer · 43 replies
    Investor's Business Daily ^ | 06/17/2014 | John Merline
    The total number of Americans now on the Social Security Disability Insurance program topped 11 million in May, a record high and an increase of 18% since January 2009, according to new data from the Social Security administration, furthering a trend that will have severe economic and budget consequences. More than 5.2 million workers have enrolled in the program since President Obama took office, and enrollment is climbing faster under Obama than at any time in the program's history. An average 81,000 workers joined the Social Security Disability Program each month during Obama's years. Under President Bush, by contrast, monthly...
  • Goldman's Top Economist Just Made The Call We've Been Waiting 5 Years To Hear

    06/09/2014 1:02:53 PM PDT · by blam · 47 replies
    BI ^ | 6-9-2014 | Joe Weisenthal
    Joe Weisenthal June 9, 2014 Goldman's top economist, Jan Hatzius, just said the words we've been wanting to hear for five years. He believes the economy is now growing at an above-trend pace. Goldman's own proprietary current activity indicator (CAI) is showing its fastest growth since the crisis, and though he acknowledges that some of the strong May activity is the result of a snapback from a tough winter, he says that even without that snapback we're still growing at a strong rate. Here's his statement: Despite the 1% drop in real GDP in the first quarter, we believe that...
  • We're Getting Evidence Of An Economic Breakout From A Very Important Source

    06/08/2014 7:49:08 AM PDT · by blam · 30 replies
    BI ^ | 6-8-2014 | Joe Weisenthal
    Joe Weisenthal June 8, 2014 The evidence is piling up that the economy is bursting out of the winter doldrums, as basically all of the May economic data has been hot. The latest evidence comes from what may be the most important source of all: The credit markets. Specifically, credit expansion is accelerating. On Friday we got fresh data on bank lending and consumer credit. The below chart shows the year-over-year change in loans and leases from commercial banks (red line) and revolving consumer credit, AKA credit card usage, in the blue line. What's clear is that both are on...
  • The Scariest (Jobs) Chart Ever Is Dead

    06/06/2014 8:30:26 AM PDT · by blam · 11 replies
    BI ^ | 6-6-2014 | Joe Weisenthal
    Joe Weisenthal Jun. 6, 2014 We just hit a big milestone with today's jobs report. We've finally recovered all of the jobs lost during the recession. We needed 113,000 jobs today to do it and easily cleared that bar with a gain of 217,000 jobs in May. Of course because of population growth, we're still "behind" in terms of total jobs, but at least this is one benchmark that's been cleared. For a long time we've been running this chart from Calculated Risk, showing how deep this jobs recession has been compared to past ones, and our nickname for it...
  • The Obama Recovery: As Bad as (or Worse than) the Great Depression?

    06/05/2014 9:06:03 AM PDT · by SeekAndFind · 9 replies
    Pajamas Media ^ | 06/05/2014 | Tom Blumer
    At West Point last week [1], President Barack Obama went to a variant of an economic theme he’ll probably reprise until the day he leaves the Oval Office once and for all (we hope) 31-plus months from now.Obama told the assembled graduating Army cadets and their families: When I first spoke at West Point in (December) 2009 … our nation was just beginning a long climb out of the worst economic crisis since the Great Depression. What if I told you that nearly five years into the nation’s “long climb” out of the recession, the relative size of the...
  • The Economic Snapback Is Here

    06/03/2014 1:21:12 PM PDT · by blam · 30 replies
    BI ^ | 6-3-2014 | Joe Weisenthal
    Joe Weisenthal June 3, 2014 12:51PM 2014 was supposed to be the year that the economy finally broke out of its subpar, post-crisis pace of growth. But the first few months of the year were a big disappointment, and in fact Q1 GDP was decidedly negative. Of course, the economic bulls had an excuse for this: Weather. It was well known that there was an unusual amount of cold and snow at the start of the year, and that kind of weather keeps people home. So this spring became a moment of truth for the economy. If the data stayed...
  • Obama's Little Orphan Economy Refuses To Recover

    05/30/2014 4:15:17 AM PDT · by IBD editorial writer · 8 replies
    Investor's Business Daily ^ | 05/29/2014 | IBD Staff
    Recovery: The economy "unexpectedly" contracted at an annual rate of 1% in the first three months of the year. But fear not! The prosperity that President Obama has promised for five years will be here tomorrow! Obama's top economic adviser, Jason Furman, dismissed the news that the 1% drop was twice as big as economists had predicted just a few weeks ago. This was, he said, almost entirely due to a downward revision in the "highly volatile inventories category" and some bad winter weather in some parts of the country. "More up-to-date data," Furman says, show that the economy "continues...
  • Exclusive: Like New Jersey, most states felt drop in April income taxes

    05/23/2014 7:07:18 AM PDT · by Oldeconomybuyer · 17 replies
    Reuters ^ | May 23, 2014 | BY LISA LAMBERT AND KAREN PIEROG
    ... Personal income tax collections plunged last month from a year earlier in 27 of 32 states for which Reuters was able to collect data. That's most of the 43 states that levy income taxes, and drops were as high as 50 percent. While many states predicted tough times this year, a handful including New Jersey and Pennsylvania is set to face hard decisions on either cutting spending or raising taxes. By the end of last year, 26 states had still not seen overall tax revenue return to pre-recession levels, according to recent data from Pew Charitable Trusts.
  • US Retail Sales up Scant 0.1 Pct. in April; Spending Online and on Furniture, Electronics Dips

    05/13/2014 5:48:18 AM PDT · by Oldeconomybuyer · 17 replies
    ABC News ^ | May 13, 2014
    U.S. retail sales growth slowed in April, with consumers shopping less online and cutting back on purchases of furniture and electronics. The Commerce Department says retail sales rose just 0.1 percent last month, after surging 1.5 percent in March following a harsh winter that had curtailed shopping. The modest sales suggest that consumers continue to be cautious during the still-slow, nearly 5-year recovery.
  • The Economic Recovery Continues: Businesses Are Being Destroyed Faster Than They Are Being Created

    05/10/2014 6:25:41 PM PDT · by SeekAndFind · 2 replies
    TEC ^ | 05/10/2014 | Michael Snyder
    What would you say about an economy where businesses are shutting down faster than they are opening? Well, a shocking new study released by the Brookings Institution indicates that this is exactly what is happening in the United States. We are absolutely killing small businesses and the entrepreneurial spirit in this country, and as you will see below, the number of self-employed Americans has been on a downward trend for a decade even though our population has been steadily growing. Traditionally, small businesses have been the primary engine of job growth in this nation, so the fact that study after...
  • What's Behind Friday's Jobs Numbers?

    05/03/2014 12:03:04 PM PDT · by Kaslin · 17 replies
    Townhall.com ^ | May 3, 2014 | Peter Morici
    The economy created 288,000 jobs in April, up from 203,000 in March. Thats the second best showing of the Obama recovery but still less than what is needed each month to raise employment to prerecession levels. Those results are consistent with an economy recovering from its winter slump but performing well below full potential4 to 5 percent GDP growth and 400,000 to 500,000 jobs a month. Construction, manufacturing, retail and wholesale trade, business and professional services, finance, health care, leisure and hospitality, and government employment were all up. Information technology registered a small loss. Hourly earnings made no gain, indicating...
  • Most jobs created in this recovery are low-wage, study finds

    05/01/2014 11:47:51 AM PDT · by Oldeconomybuyer · 10 replies
    Market Watch ^ | May 1, 2014 | by Greg Robb
    A majority of the new jobs created in the four years of the recovery have been in low-wage sectors, according to a new report released this week. Deep into the recovery, job growth is still heavily concentrated in lower-wage industries, said the National Employment Law Project, a progressive research group which has been pushing for Congress to increase the minimum wage. Lower-wage industries accounted for 22% of job losses during the recession but 44% of employment growth over the past four years.
  • The One Word Democrats May Not Utter During the Campaign (Nope, it's not "Obamacare")

    04/20/2014 7:21:39 AM PDT · by SeekAndFind · 4 replies
    Pajamas Media ^ | 04/19/2014 | Rick Moran
    The One Word Democrats May Not Utter During the Campaign Posted By Rick Moran On April 19, 2014 @ 11:26 am In Politics | And it’s not “Obamacare.”As important as Obamacare is to the Republicans in the midterm elections, the economy still tops everyone’s list as the number one issue facing the country.Some Democratic political consultants are advising candidates to avoid using the term “recovery” when describing the economy — for obvious reasons. This Fox News poll from January shows that 74% of Americans still think we’re in a recession. Any Democrat uttering the word “recovery” is likely to...
  • Democrats Told "Don't Mention 'Economic Recovery' - It's A Political Loser"

    04/19/2014 5:04:48 AM PDT · by blam · 17 replies
    Zero hedge ^ | 4-18-2014 | Tyler Durden
    Democrats Told "Don't Mention 'Economic Recovery' - It's A Political Loser" Tyler Durden 04/18/2014 19:48 -0400Democratic strategists have made a blunt declaration in an election-year memo, according to AP, "Don't talk about the economic recovery. It's a political loser." Stan Greenberg, James Carville and others wrote that in head-to-head polling tests the mere mention of the word "recovery" is trumped by a Republican assertion that the Obama administration has had six years to get the economy moving and its policies haven't worked. But, but, but... stocks are at all-time highs? As AP reports, Election-year memo to Democratic candidates: Don't talk...
  • Obama's never-ending road to economic growth

    03/12/2014 6:46:03 AM PDT · by IBD editorial writer · 18 replies
    Investor's Business Daily ^ | 03/11/2014 | IBD Staff
    Obamanomics: For five years now, President Obama has been telling Americans that we "have a long way to go" before the country will see a return to prosperity. Just how long does he expect us to wait? Do a search of the White House website for "long way to go" and you come up with hundreds of hits, most of them involving President Obama or someone in his administration counseling patience on economic growth. Now, it might have made sense in mid-2009 to say that recovery from a deep recession will take time. After all, the recovery had just begun....