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good economic news...

poweRob

poweRob

USMC 1988-1996
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Turns out the economy is gaining much steam and its getting better in many many areas. Don't you all think that this is good for America?

Today's Private Sector Data Reveals Economy Growing At Faster Pace Than Expected

A warning—if your politics and ideology do not permit you to accept good economic news without experiencing a severe panic attack, you might wish to avert your eyes as I’m afraid this is going to upset you.

According to the Bloomberg Economic Surprise Index, which compares 36 indicators with the predictions of various analysts, “the economy is improving more than professional forecasters anticipated, particularly in data on employment and housing.”

Citing the Index, Bloomberg reports-

“The index, based on gauges compiled by private businesses and trade groups in addition to government, confirms U.S. growth is generating jobs in the face of a global slowdown and looming federal spending cuts and tax increases known as the fiscal cliff.”

And it gets better.

According to Citigroup’s Economic Surprise Index, things are even better than what was reported by the Bloomberg measurement as the Citygroup data reveals a dramatic jump in economic activity—rising from this year’s low of negative 65.3 on July 19th to today’s positive 49.4.

Want more?

According to the National Association of Realtors, the sale of previously owned houses rose 7.9 percent in August, reaching a two year high while automobile sales in September came in just south of 14.9 million, the best since 2008.

And then there is that old standby, the Thompson Reuters/University of Michigan Consumer Sentiment Index which rose to 83.1 from last month’s 78.3 and, more significantly, reached its highest number since September 2007, before the recession began.​
 
poweRob said:
Turns out the economy is gaining much steam and its getting better in many many areas. Don't you all think that this is good for America?

Today's Private Sector Data Reveals Economy Growing At Faster Pace Than Expected

A warning—if your politics and ideology do not permit you to accept good economic news without experiencing a severe panic attack, you might wish to avert your eyes as I’m afraid this is going to upset you.

According to the Bloomberg Economic Surprise Index, which compares 36 indicators with the predictions of various analysts, “the economy is improving more than professional forecasters anticipated, particularly in data on employment and housing.”

Citing the Index, Bloomberg reports-

“The index, based on gauges compiled by private businesses and trade groups in addition to government, confirms U.S. growth is generating jobs in the face of a global slowdown and looming federal spending cuts and tax increases known as the fiscal cliff.”

And it gets better.

According to Citigroup’s Economic Surprise Index, things are even better than what was reported by the Bloomberg measurement as the Citygroup data reveals a dramatic jump in economic activity—rising from this year’s low of negative 65.3 on July 19th to today’s positive 49.4.

Want more?

According to the National Association of Realtors, the sale of previously owned houses rose 7.9 percent in August, reaching a two year high while automobile sales in September came in just south of 14.9 million, the best since 2008.

And then there is that old standby, the Thompson Reuters/University of Michigan Consumer Sentiment Index which rose to 83.1 from last month’s 78.3 and, more significantly, reached its highest number since September 2007, before the recession began.​
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If it's true, certainly it's good news, or at least "green shoots," as they say.

But the way the article is written, it's not that you want to disagree because of your politics, it's that you want to disagree because the author is such a heinous jackass.
 
Cool...this stuff should have happened about three years ago, but better late than never.

Now, let's get Romney in the White House so our economy can REALLY take off.
 
I'm going to echo better late than never. We need faster progress, but this is definitely a step in the right direction. I'll take any positive economic news we can get!
 
Huh...just as Romney / Ryan are surging....Coincidence?
 
AdamT said:
That didn't take long. IT'S A CONSPIRACY!! :lamo
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at least 5 RW commentators-talking about the fact no president had won re election with unemployment higher than 8%-predicted the rate would magically drop to under 8% for the last report before the election.
 
TurtleDude said:
at least 5 RW commentators-talking about the fact no president had won re election with unemployment higher than 8%-predicted the rate would magically drop to under 8% for the last report before the election.
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Wouldn't give them too much credit, simply rehashing the tired old meme that the Bureau of Labor Statistics abruptly became an operative of the far left around 4 years ago, after a long and tenured record of accuracy and integrity. Quite sad really. Same goes for those who constantly bray about the U-6 figures representing "real unemployment", while employing the U-3 figures in just about every historical account save the past few years.
 
Hare said:
Wouldn't give them too much credit, simply rehashing the tired old meme that the Bureau of Labor Statistics abruptly became an operative of the far left around 4 years ago, after a long and tenured record of accuracy and integrity. Quite sad really.
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more disturbing was the bribe of a big defense contractor that was planning on laying off thousands
 
TurtleDude said:
at least 5 RW commentators-talking about the fact no president had won re election with unemployment higher than 8%-predicted the rate would magically drop to under 8% for the last report before the election.
Click to expand...

Here's a fun fact for you: unemployment hasn't dropped this quickly in an election year since 1984 ... leading up to Ronnie Raygun's landslide reelection.
 
Mycroft said:
Cool...this stuff should have happened about three years ago, but better late than never.

Now, let's get Romney in the White House so our economy can REALLY take off.
Click to expand...

His economics are fatally flawed. :?

The whole premise is that, if you give tax cuts to those above a certain income, they'll be able to higher more workers. With more people working, you collect more tax revenue and grow a healthy economy.

This is wrong on a number of levels, the first being that: If a person is given a tax cut, this won't necessarily lead to them hiring workers.
And unlike SSE, Trickle down gives tax cuts to everyone above a certain income, not merely job creaters and the producers of capital.
 
AdamT said:
Here's a fun fact for you: unemployment hasn't dropped this quickly in an election year since 1984 ... leading up to Ronnie Raygun's landslide reelection.
Click to expand...

The fact that mondale was a turd was probably a more reasonable explanation
 
poweRob said:
Turns out the economy is gaining much steam and its getting better in many many areas. Don't you all think that this is good for America?
Click to expand...
Who knows? We've been in "looks like things are really turning around" mode a number of times over the past few years. One or two months of semi-positive news doesn't tell us much... we'll have a much better idea early next year whether things are truly getting better.
 
waas said:
His economics are fatally flawed. :?

The whole premise is that, if you give tax cuts to those above a certain income, they'll be able to higher more workers. With more people working, you collect more tax revenue and grow a healthy economy.

This is wrong on a number of levels, the first being that: If a person is given a tax cut, this won't necessarily lead to them hiring workers.
And unlike SSE, Trickle down gives tax cuts to everyone above a certain income, not merely job creaters and the producers of capital.
Click to expand...

given that taxing the rich more will not get rid of the deficit or even make a significant dent into it and given the dem party has to keep handing out money to buy votes, tell us what good the Obama scheme of hiking taxes only on the rich does other than make the envious losers feel better?
 
TurtleDude said:
The fact that mondale was a turd was probably a more reasonable explanation
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Agreed: he even made that worthless sack of crap Reagan look good.
 
AdamT said:
Agreed: he even made that worthless sack of crap Reagan look good.
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Reagan was a far better president than the one you shill for
 
Harshaw said:
Far, FAR better.
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its not even close. The person really happy about Obama's major fail is Jimmy Carter. Other than those of us involved in the Olympic Movement or the Iranian Hostages, most will consider Obama the worst president in the last 40 years
 
TurtleDude said:
its not even close. The person really happy about Obama's major fail is Jimmy Carter. Other than those of us involved in the Olympic Movement or the Iranian Hostages, most will consider Obama the worst president in the last 40 years
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History will not be kind, and I doubt he has it in him to pull any kind of "rehabilitation" in his post-presidency, as some say Carter did. I just don't see Obama out in the hot sun pounding nails.
 
poweRob said:
Turns out the economy is gaining much steam and its getting better in many many areas. Don't you all think that this is good for America?


A warning—if your politics and ideology do not permit you to accept good economic news without experiencing a severe panic attack, you might wish to avert your eyes as I’m afraid this is going to upset you.
Click to expand...

You left out an important quote from the article:

"Rick Ungar, Contributor
Writing from the left on politics and policy."


You have managed to point out a few blips on the trend of the failing Obama economic policy. But while we are cherry picking economic issues:


"U.S. Posts Fourth-Largest Budget Deficit Since WWII

The government budget deficit in the U.S. for the year ended in September was the fourth-largest since World War II as lawmakers debate the impact of the looming spending cuts less than a month before the election.

The shortfall registered $1.09 trillion in fiscal 2012, down from $1.3 trillion in 2011, according to Treasury Department data issued today in Washington. It reached $1.42 trillion in 2009, the highest ever. In September, the U.S. registered a surplus of $75 billion compared with a shortfall of $62.7 billion in the same month last year."


Notice that the other two years, thanks to Obama, were even worse. That's what happens when there is a total lack of leadership in the White House. Notice the stretch in this article (also from Bloomberg) to point to a single month where they actually found a surplus, another blip in the trend. There is no way, however, to hide the trillion dollar deficits that Obama is burdening our young people with.


""Andrea Saul, a spokeswoman for Republican nominee Mitt Romney, said the budget report “highlights the big choice voters face in November.”

Obama’s “reckless spending has led to a fourth straight trillion-dollar deficit,” she said in an e-mail. “Americans deserve a president who understands that reining in our country’s out-of-control spending is not only an economic imperative -- it’s a moral imperative.” "

U.S. Posts Fourth-Largest Budget Deficit Since WWII - Bloomberg

Even Obama's miserable policies can't keep Americans down forever. Fortunately we are making an inkling of progress in spite of his feckless policies and empty chair leadershp.
 
AdamT said:
Here's a fun fact for you: unemployment hasn't dropped this quickly in an election year since 1984 ... leading up to Ronnie Raygun's landslide reelection.
Click to expand...

In a different pattern. It started out at 8% in January dropped down to 7.2% by June but then started to climb as the election approached. Back to 7.5 in August, 7.3 in September and 7.4 in October.
The U.S. Recession of 1980-1982
 
TurtleDude said:
given that taxing the rich more will not get rid of the deficit or even make a significant dent into it and given the dem party has to keep handing out money to buy votes, tell us what good the Obama scheme of hiking taxes only on the rich does other than make the envious losers feel better?
Click to expand...

I was expecting you to quote that, TD. :mrgreen:

The premise of progressive taxation is that one puts an increased amount of funds in to the government without any significant decrease in the standard of living. It's also curious to see you accusing the OA of buying votes. Are you referring to welfare and food stamps? It's so tedious to repeat myself:
waas said:
And furthermore, you wouldn't be against paying a small fraction of your to keep Americans fed, now would you? And surely you're not against something like the Civilian Conservation Corps, are you? No. Because, as Americans, we don't just abandon our fellow man. That's not who we are.
Click to expand...

But what I'd really like is for you to address my original statement(Instead of forcing me to defend an administration I don't support.) Care to do so?
 
TurtleDude said:
Reagan was a far better president than the one you shill for
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No, he really wasn't. If Obama had done a quarter of the shady **** that went on under Reagan he'd be in Leavenworth. Reagan is the most overrated president in history, as history will confirm.
 
AdamT said:
Reagan is the most overrated president in history, as history will confirm.
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You'll go to your grave still hoping for this to happen.

You sound like a right-winger fuming about FDR. That ship has sailed.
 
waas said:
I was expecting you to quote that, TD. :mrgreen:

The premise of progressive taxation is that one puts an increased amount of funds in to the government without any significant decrease in the standard of living. It's also curious to see you accusing the OA of buying votes. Are you referring to welfare and food stamps? It's so tedious to repeat myself:


But what I'd really like is for you to address my original statement(Instead of forcing me to defend an administration I don't support.) Care to do so?
Click to expand...

well you are wrong for several reasons

1) the first is based on the idiotic assumption that everyone targeted for tax hikes is able to bear more taxes. You assume that those people all live frugally.

2) if someone is mainly living on dividend income their taxes could be tripled.

most people-rich or poor (save the uber wealthy for example but most of those targeted for soaking are not uber rich) tend to live close to the limits of their means. I know dozens of cases of people who were members of the same expensive country club I belong to who had to resign when there was an economic downturn.

I remember one clown who reveled at the thought that tax hikes could cause someone making say 500K year who has three kids in Ivy League schools (my father had that for 8 years since my two siblings and I all had at least two years of graduate study and two of us had four years) to be unable to afford tuition if Obama jacks the tax on dividends from 15% to 43% as something good --he whined that since his parents couldn't send him to an Ivy league school it wasn't fair that others could

giving an irresponsible government more money is idiotic.
 
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