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Thread: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by donsutherland1 View Post
    The opinion piece in the Examiner mischaracterizes Clinton's speech. If one reads the transcript, Clinton actually praises President Obama for reviving economic growth (as would be expected, as she could ill-afford to do otherwise were she to seek the Democratic Party nomination). The relevant excerpts are:

    It’s taken years of painstaking work and strong leadership from President Obama to get our economy growing again. But it is growing. And there are reasons to be optimistic about our future.

    The full transcript can be found at: Keynote by the Honorable Hillary Rodham Clinton | NewAmerica.org
    Both Hillary and Obama have the same amount of credibility, NONE. It didn't take hard work, only a partisan Democrat Congress to pump 842 billion(stimulus) into the economy to generate short term economic results and continue to print money to keep the stock market at record highs. They have done nothing to stimulate the private sector which is the engine that really drives this economy to create jobs that even keep up with population growth. debt continues to rise, economic growth remains stagnant, and govt dependence is increasing.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by donsutherland1 View Post
    The opinion piece in the Examiner mischaracterizes Clinton's speech. If one reads the transcript, Clinton actually praises President Obama for reviving economic growth (as would be expected, as she could ill-afford to do otherwise were she to seek the Democratic Party nomination). The relevant excerpts are:

    It’s taken years of painstaking work and strong leadership from President Obama to get our economy growing again. But it is growing. And there are reasons to be optimistic about our future.

    The full transcript can be found at: Keynote by the Honorable Hillary Rodham Clinton | NewAmerica.org


    Well DS she does have to create a difference from BO.....and talking about what the economy was like with her Husband. Is that means for her to do so. Which any differences she can point to.....will be taken as criticisms to BO. Even if she still has to press with the party line.

    Although.....most of what is being said isn't panning out with BO's economy. When Retail and Businesses are reporting they will not meet expectations like they thought. When more and more National Companies are cutting back and closing up stores and or food chains.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    Both Hillary and Obama have the same amount of credibility, NONE. It didn't take hard work, only a partisan Democrat Congress to pump 842 billion(stimulus) into the economy to generate short term economic results and continue to print money to keep the stock market at record highs. They have done nothing to stimulate the private sector which is the engine that really drives this economy to create jobs that even keep up with population growth. debt continues to rise, economic growth remains stagnant, and govt dependence is increasing.
    Whether or not Secretary Clinton has economic credibility is entirely different from the matter of her position concerning President Obama's policies. Her credibility, her vision, among many other factors will be scrutinized should she seek the Presidency. Hopefully, the 2016 campaign will feature a substantive debate on the direction of the country, rather than the more superficial positioning that has defined recent campaigns. Unfortunately, that's probably not a highly likely outcome given the current soundbite culture so to speak.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Walgreens latest big firm to consider leaving U.S.
    At Walgreen, renouncing corporate citizenship.....

    The state gave Walgreen $46 million in corporate income tax credits over 10 years in exchange for a pledge to create 500 jobs and invest in upgrading its offices. The state also provided $625,000 in training money and $875,000 in other tax incentives.

    Mr. Wasson’s actions, however, could soon run counter to his words. The same chief executive who said he was so “proud of our Illinois heritage” is now considering moving the company’s headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain. Why? To lower Walgreen’s tax bill even further.

    Alarmingly, dozens of large United States companies are contemplating the increasingly popular tax-skirting tactic known as an inversion. Under the strategy, companies merge with foreign rivals in countries with lower tax rates and then reincorporate there while still enjoying the benefits of doing a large part of their business in the United States. AbbVie, a drug company spun off from Abbott Laboratories, is in talks to merge with its rival Shire, based in Ireland, Europe’s equivalent of a tax haven. Medtronic announced plans to merge with Covidien, also based in Ireland. Similarly, Pfizer sought to buy AstraZeneca, based in Britain, where the tax rate is lower than it is in the United States, but AstraZeneca’s board rejected that offer.

    In Walgreen’s case, an inversion would be an affront to United States taxpayers. The company, which also owns the Duane Reade chain in New York, reaps almost a quarter of its $72 billion in revenue directly from the government; it received $16.7 billion from Medicare and Medicaid last year.....snip~

    http://finance.yahoo.com/news/renoun...001240207.html

    Like it says they aren't the only one.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by MMC View Post
    Well DS she does have to create a difference from BO.....and talking about what the economy was like with her Husband. Is that means for her to do so. Which any differences she can point to.....will be taken as criticisms to BO. Even if she still has to press with the party line.

    Although.....most of what is being said isn't panning out with BO's economy. When Retail and Businesses are reporting they will not meet expectations like they thought. When more and more National Companies are cutting back and closing up stores and or food chains.
    I agree that she will also try to differentiate herself, but she will do so in a fashion that does not tear down President Obama. Were she to vigorously attack his policies, she would only undermine her own prospects. First, she would lose the support of at least some share of those who supported President Obama. Second, she would generate questions about her own judgment, after all she served a full term with the President.

    What her speech seemed to highlight is that the nation still faces real challenges, particularly how to translate reviving economic growth into broader socioeconomic outcomes (improved standard of living, reduced income inequality, etc.). The desired outcomes and policies aimed at achieving them will differ among the two Parties and also among the various candidates. Secretary Clinton has yet to define her policy approach toward achieving the outcomes she will seek (some of which were implied in the speech in question). As a hint, she did point to her husband's Presidency and an emphasis on investment, among other things. She also offered a big hint that she will define her approach as somewhat non-partisan or at least transcending contemporary partisan divisions in some aspects, perhaps trying to address the public's discontent with recent partisan gridlock when she referred to "evidence-based decision making" and her hope that it can be "restored." It should be noted that this will be a challenge, as she does have a strong partisan identity and there will be constraints on how far she can go without upsetting more progressive elements in the Democratic Party.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Btw here is something on retail.


    The Sad, Slow Death of America's Retail Workforce.....

    Retail sales just notched their best month since 2012 and the industry has added almost one million jobs since 2010. But the rosy headline stats obscure a more complex and potentially troubling story in retail—particularly for its employees.

    The business of selling stuff is becoming much more efficient. Sales-per-employee have gone from $12,00 to $25,000 in the last two decades. That means that even as consumers spend more, we need fewer workers to stock shelves and process orders.



    One reason retail has become so efficient is that more of it is happening across Internet cables rather than across registers. E-commerce is gobbling up one percentage point of total sales every two-and-a-half years. Call it the Amazon Effect.



    And then there's the Walmart Effect. As I've reported, one Walmart worker replaces about 1.4 local retail workers, so that a county sees about 150 fewer jobs in the years after a Walmart opens its doors. Combined with the Amazon effect, this has dramatically reduced our need for retail workers to sell things, and so retail's share of the labor force, which peaked in the late 1980s, has been declining ever since.



    This isn't the end of retail. But it is the end of some retail.....snip~

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by MMC View Post
    Walgreens latest big firm to consider leaving U.S.
    At Walgreen, renouncing corporate citizenship.....

    The state gave Walgreen $46 million in corporate income tax credits over 10 years in exchange for a pledge to create 500 jobs and invest in upgrading its offices. The state also provided $625,000 in training money and $875,000 in other tax incentives.

    Mr. Wasson’s actions, however, could soon run counter to his words. The same chief executive who said he was so “proud of our Illinois heritage” is now considering moving the company’s headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain. Why? To lower Walgreen’s tax bill even further.

    Alarmingly, dozens of large United States companies are contemplating the increasingly popular tax-skirting tactic known as an inversion. Under the strategy, companies merge with foreign rivals in countries with lower tax rates and then reincorporate there while still enjoying the benefits of doing a large part of their business in the United States. AbbVie, a drug company spun off from Abbott Laboratories, is in talks to merge with its rival Shire, based in Ireland, Europe’s equivalent of a tax haven. Medtronic announced plans to merge with Covidien, also based in Ireland. Similarly, Pfizer sought to buy AstraZeneca, based in Britain, where the tax rate is lower than it is in the United States, but AstraZeneca’s board rejected that offer.

    In Walgreen’s case, an inversion would be an affront to United States taxpayers. The company, which also owns the Duane Reade chain in New York, reaps almost a quarter of its $72 billion in revenue directly from the government; it received $16.7 billion from Medicare and Medicaid last year.....snip~

    http://finance.yahoo.com/news/renoun...001240207.html

    Like it says they aren't the only one.
    More bad news! The sad thing is that there are about 16 million more people in the US since 2006, but there are more than 1.5 million fewer Americans employed today. Workforce participation rates are the lowest in decades - and it looks like it's about to get worse. And this administration is pushing to give amnesty to thousands and thousands of illegals at the same time that jobs are disappearing? WTH?

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

    Part 2.

    According to data obtained by The Atlantic from EMSI, the retail industry gained about 49,000 jobs between *2001 and 2013*, which means it grew by exactly 0.32 percent. Which means it didn't grow.

    But the major action is at the bookends of this graph below, which shows employment growth in the largest retail subcategories. Department stores, like JCPenney, lost more than 200,000 jobs this century. But supercenters like Walmart, which operates in more than 3,200 domestic locations, added half a million (often lower-paying) jobs.



    The death of the salesmen isn't a uniform trend. It's spiky. Supercenters nearly doubled their total employment this century. But music stores, photo stores, computer stores, and book stores have been crushed. These used to be services you needed a store to buy. Now they're apps.....snip~




    http://finance.yahoo.com/news/sad-sl...120000544.html

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by MMC View Post
    Walgreens latest big firm to consider leaving U.S.
    OK, and this has what to do with Q1 GDP, or things looking up for Q2?

    You also do know that the US corporate tax rate is below the OECD average? As in, they aren't considering this to get a lower tax rate, but just to exploit a tax loophole. Right?


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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by MMC View Post
    Btw here is something on retail
    Thanks for the red herrings.

    The increasing efficiency of retail, the move online, and shrinking of this type of employment are long-term trends. It doesn't alter the fact that there was just a big jump in retail spending, which (again, keeping on track with the thread) indicates that the bad Q1 results do NOT indicate some fundamental weakness of the economy.

    Are you guys really going to distract from every bit of positive economic news this week? Seriously?
    Last edited by Visbek; 07-02-14 at 10:58 AM.

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