Posted on 12/23/2010 10:34:56 AM PST by NormsRevenge
WASHINGTON (AFP) – Fresh data on Thursday showed the US economy limping toward the end of 2010, its fitness much improved over last year, but with the recovery still hobbled by high unemployment and weak demand.
When President Barack Obama gave an end-of-year press conference on Wednesday, his assessment was that the world's largest economy "had passed the crisis point."
A slew of unemployment, inflation, consumer spending, factory and housing data on Thursday seemed to back up that assessment.
But it also showed the distance left to travel.
The Labor Department reported new claims for unemployment benefits -- an important indicator of the vital jobs market -- last week remained close to their to lowest levels of the year.
Throughout the last 12 months new weekly unemployment claims, which indicate the number of Americans who turn to the government for aid, have banded between 400,000 and 500,000 -- levels too high to signal falling unemployment.
Last week's new claims were at the bottom of that range, at 410,000, boding well for 2011 according to experts.
"The pace of labor market improvement is picking up," said Nicholas Tenev of Barclays Capital.
And those who are in work appear to be spending a bit more.
...
"Today's report is a hopeful sign that manufacturing will continue to lead the economic recovery."
But the outlook for 2011 is far from rosy across the board.
The housing market, which was at the epicenter of the recession, continues to be moribund.
(Excerpt) Read more at news.yahoo.com ...
I thought hobbles are leg restraints
Cant wait for next months first “unexpected rise”
$4 gas will kill this “recovery”, if something else doesn’t kill it first.
>>...still hobbled by high unemployment and weak demand...<<
What about insolvent cities and states? What about foreclosuregate?
Etc.
What the he** are these guys smokin’? I want some!
I expect an upturn in equity markets and the US dollar in 2011 - not because we are doing anything right, but because the rest of the world’s sins are catching up with them faster than our sins are catching up with us. Many nations like China are set to significantly underperform expectations, and that will make the USA look good by comparison...for a while.
It’s called the “Christmas Season”.
“Christmas Season”... yup.. visions of things to come and that have already been..
-
Wall Street Flat on Last Trading Day Before Christmas- Reuters
http://finance.yahoo.com/news/Wall-Street-stays-upbeat-rb-3741720125.html
Stocks were little changed on Thursday despite a preholiday flurry of data that reinforced views of a solid economic growth as Wall Street sought to notch a fourth straight week of gains.
It's just the fascist template at work.
When a Democrat is in office, there is always that rosey glow everywhere...things are getting better or just about to get better because the "right people" are in charge.
When Bush had 4 percent unemployment, it was the worst economy in 75 years.
There are lies, damned lies, then there is the MSM.
If this is the best a trillion dollars plus of borrowed and freshly printed money can do then it will be a short-lived success. Like any solution that is not the correct solution it might work for a while, but pretty soon it stops doing the trick and the original problem is still there, plus you have the damage done by the ill-conceived ‘solution’.
And that's exactly where we are now. None of the borrowed or newly printed money was used to solve the underlying problem, only to cover the sins of those who got us into trouble. When that money is gone the original problems will still be with us AND we'll have a host more too boot.
I used to think they didn't understand what they were doing. But after watching this bunch for two years now I am convinced they know damn well what they're doing and their only intention to feather their nests and those of their supporters to cushion the blow that's coming.
We will not pass the crisis point until a real American takes the Oath of Office on January 20, 2013 - and she tosses the anti-American tyrant out of our White House.
It’s a shame that such a rich country can be milked and fleeced so easily and by its own gubamint sworn to protect and defend it..
$3.31 to 3.35 is average for unleaded regular around here.. meanwhile oil lies waiting off our coasts.. waiting.. and waiting..
No top executives at Bear Stearns, Moody's, or S&P have been indicted.
All former American International Group executives are running free.
All America knows this.
Few Americans care.
http://www.kiplinger.com/businessresource/forecast/archive/The_U.S._s_Untapped_Bounty_080630.html
A complete pile of trash. There has been NO recovery.
“President Barack Obama ........... assessment was that the world’s largest economy “had passed the crisis point.” Obama lies again.
It will not pass the “crisis point”, until the dems are out of power and Obama is out of office.
However, the “redistribution of wealth” is on course.
Anyone who thinks 2011 is going to be better is a moron.
Hmmm... didn't he say this last Spring? And again during the vigorous "Recovery Summer?" Much be a real bitch having to deal with multiple crisis points.
Has anybody seen any stats on the number of lost jobs that are never coming back? I suspect there was a lot of fat and deadwood that will never be replaced.
“Fresh data on Thursday showed the US economy limping toward the end of 2010, its fitness much improved over last year,”
/////////////////////////////////////////////////////////////
Fitness much improved? Sure, like two broken legs is better than one.
“Anyone who thinks 2011 is going to be better is a moron.”
////////////////////////////////////////////////////////////
If they can even come up to the standard of moron.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.