Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

Nicolos_Darvas · Dec 7, 2007

By Jeannine Aversa, AP Economics Writer <table border="0" cellpadding="0" cellspacing="0" height="4"><tbody><tr><td height="4">
</td></tr></tbody></table>Unemployment Rate Holding Steady, Helping Economy Weather Housing, Credit Storms WASHINGTON (AP) -- Employers hired at a moderate pace in November and the unemployment rate held steady at a relatively low 4.7 percent, reassuring signs for an economy that is fighting to avoid a recession.
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</noscript></td></tr></tbody></table>The Labor Department's report Friday showed that companies are still adding to their ranks -- albeit at a slower pace -- even as deepening troubles in the housing and credit markets are weighing heavily on national economic activity.</p>Employers added a net 94,000 new jobs to their payrolls last month. That was down from a surprisingly strong gain of 170,000 jobs in October but was still sufficient to prevent the unemployment rate from rising. The jobless rate has held steady at 4.7 percent for three months in a row.
"The economy has been hit by some large juggernauts, but the labor market is holding together reasonably well," said Lynn Reaser, chief economist at Bank of America's Investment Strategies Group. "Today's report would suggest there is no need to panic about the economy."
Still, fallout from the housing collapse was painfully evident. Construction companies slashed jobs last month. So did mortgage companies, banks, real-estate firms and manufacturers. Those losses, however, were more than offset by hiring gains elsewhere, including in health care, retail, hotels and motels, temporary help firms, computer services and the government.
"Jobs growth near 100,000 combined with a steady unemployment rate does not signal an economy dipping into recession, and provides important support for consumer incomes," said Nigel Gault, economist at Global Insight.
The health of the nation's job market is a critical factor in determining whether the economy will, in fact, weather the stresses from the housing collapse and credit crunch. Job and wage growth have been shock absorbers, helping individuals to cope with all the negative forces in the economy. The employment climate has helped to support spending by individuals, a major shaper of overall economic activity.
Still, a lingering fear among economists is that consumers will cut back on their spending, throwing the economy into a tailspin. The odds of a recession have grown this year, although Federal Reserve officials, the Bush administration and others are hopeful the country can avoid one.
To stave off the possibility of a recession, the Federal Reserve has sliced a key interest rate twice this year. Many expect rates to be lowered for a third time when policymakers meet Tuesday. A reduction of at least one-quarter percentage point is expected as insurance against undue weakening in the economy, economists said.
On Wall Street, stocks fluctuated between small gains and minor losses.
Workers' wages grew last month.
Average hourly earnings rose to $17.63 in November, a 0.5 percent increase from October. It marked the biggest monthly gain since June. Over the past 12 months, wages increased 3.8 percent. High energy prices have pushed up inflation and probably made some workers feel like their paychecks aren't stretching as far as they would like, some analysts said.
To be sure, workers want to see wages go up. But a sustained pick up in wages -- if not blunted by other economic forces -- can fan inflation.
Commerce Secretary Carlos Gutierrez, in an interview with The Associated Press, welcomed the latest employment figures, saying they demonstrate that the "economy is flexible and resilient."
Job growth has slowed. Employers have added an average of 118,000 new jobs a month so far this year. That's down from an average of 189,000 a month for all of last year.
Still, economists are encouraged that the labor market as a whole isn't crumbling under the strains plaguing the economy.
"The November employment report was not a blowout, but it was certainly healthy enough to put off talk that the economy is careening off the cliff into a recession," said Stephen Stanley, chief economist at RBS Greenwich Capital.
Problems in the economy have elevated such talk this year. The housing and mortgage markets have melted down. Home foreclosures have soared to record highs. Credit has dried up. Lenders have been forced out of business. Financial companies have wracked up billions of dollars worth of losses from bad subprime mortgage investments. Wall Street has endured bouts of turbulence.
Given these stresses, economic growth is expected to slow to a pace of just 1.5 percent or less in the current October-to-December period. Growth is expected to remain sluggish into part of 2008, and the unemployment rate is expected to climb to 5 percent by early next year.
Economic uncertainties are coloring peoples' views of President Bush's stewardship. His approval rating on the economy was just 36 percent in December, according to an AP-Ipsos poll. The meltdown in the housing and mortgage markets has raised dangers to the economy and created headaches for politicians, giving Republicans and Democrats plenty of fodder to point blame at each other.

WhatsHisNuts · Dec 7, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

Employers hired at a moderate pace in November and the unemployment rate held steady at a relatively low 4.7 percent, reassuring signs for an economy that is fighting to avoid a recession.

Did you read your own article? I don't think that an article that starts off talking about "an economy that is fighting to avoid a recession" makes your point.

National debt out of control, escalating inflation, dollar dropping like a rock, record foreclosure rates......Blah blah? If you can't see the problems confronting us as economically disastrous, you're part of the problem.

Nicolos_Darvas · Dec 7, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

WhatsHisNuts said:
Did you read your own article? I don't think that an article that starts off talking about "an economy that is fighting to avoid a recession" makes your point.

National debt out of control, escalating inflation, dollar dropping like a rock, record foreclosure rates......Blah blah? If you can't see the problems confronting us as economically disastrous, you're part of the problem.

blah blah blah blah -- same ole shit -- always the messenger of bad news. Economy has been rockin since Bill Clintons recession ended.

tar_baby · Dec 7, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

WhatsHisNuts said:
National debt out of control, escalating inflation, dollar dropping like a rock, record foreclosure rates......Blah blah? If you can't see the problems confronting us as economically disastrous, you're part of the problem.

u are wrong my son...admit it

what Bush has done to fix Clinton's fuck up has worked...i dont get why you guys can't be content with a booming economy?...strange

Thor4140 · Dec 7, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

tar_baby said:
u are wrong my son...admit it

what Bush has done to fix Clinton's fuck up has worked...i dont get why you guys can't be content with a booming economy?...strange

My god man where the hell do you blockheads come up with this shit? 21 million new jobs a balance budget and the debt being paid down? Georgie sure fixed it all right. By the way how you like these gas prices? Great aren't they? I remember i paid 75 cents a gallon in Jersey back in the Clinton years.

Awsi Dooger · Dec 8, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

This is the hysterical part. You've got conservatives here desperately claiming the economy is booming. Meanwhile, the economy is what puts the GOP in electoral peril heading to '08. The state of Ohio has had such a horrid economy it elected a Democratic governor and senator by landslide last year. The senate race was an incumbent evicted by double digits. He didn't even have a terrible record or ridiculously low approval ratings. It was simply a case of the GOP brand being a death stamp.

There are very few permutations for the GOP to retain the White House minus Ohio. It will certainly be close, but if the GOP nominee loses Ohio and the presidency it will be due to the George Bush economy. Anyone who pretends otherwise is an ignorant moron.

Best of luck on running on the economy next year. Here's the tipoff. Do you ever hear the Republican candidates bragging about it, during debates? If the economy was indeed booming (and I almost hit the floor in a seizure of laughter when I read that term) all the GOP candidates would be championing it at every opportunity.

mr merlin · Dec 8, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

so who is ohio going to vote for - hillary or the chimp?

dirty · Dec 8, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

No excuse in the Chimp Comment Merlin ..... it is inexcusable...

mr merlin · Dec 8, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

Many people have commented that obama has a resemblance to curious george, sorry if I offended

gopherbob · Dec 8, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

when i judge the economy, i judge how it effects my family and me personally. most of the things that we buy (food, fuel, clothing, medical expenses, etc) have risen as much as 50%- 100% in the last several years while our salaries have only risen about 25%. housing hasn't effected us much as we bought before the boom, except that our property taxes went up as the housing prices rose. if this "booming economy" is good for you, thats great, but it hasn't been so kind to me (my family isn't struggling financially, just starting to feel the pinch).

dirty · Dec 8, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

mr merlin said:
Many people have commented that obama has a resemblance to curious george, sorry if I offended

I don't easily offend.... I just want to try to keep anything racial from being brought up. that is why I said it is unacceptable.

WhatsHisNuts · Dec 8, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

mr merlin said:
so who is ohio going to vote for - hillary or the chimp?

Piss poor, Merlin. Nice try with the Curious George spin. Pathetic.

mr merlin · Dec 8, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

WhatsHisNuts said:
Piss poor, Merlin. Nice try with the Curious George spin. Pathetic.

lets get one thing clear - barack obama is not black, and making fun of his looks is not racial.

Pay the Snucka · Dec 9, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

Spytheweb · Dec 9, 2007

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

Re: Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwi

gopherbob said:
when i judge the economy, i judge how it effects my family and me personally. most of the things that we buy (food, fuel, clothing, medical expenses, etc) have risen as much as 50%- 100% in the last several years while our salaries have only risen about 25%. housing hasn't effected us much as we bought before the boom, except that our property taxes went up as the housing prices rose. if this "booming economy" is good for you, thats great, but it hasn't been so kind to me (my family isn't struggling financially, just starting to feel the pinch).

These are my words, thank you! Even my cat's food has gone up, rent, food, gas, power i guess if you own stock in these things the economy looking good. I don't want to bring up care for profit in the US. When the next depression comes and these guys are in the soup line do they Bush and Cheney will care? They're exchanging their US dollars for gold right now

Economy Sucks !!!! Blah blah -- Same ole shitty claims -- evidence proves otherwise

Nicolos_Darvas

2

WhatsHisNuts

2

Nicolos_Darvas

2

tar_baby

2

Thor4140

EOG Dedicated

Awsi Dooger

2

mr merlin

EOG Master

dirty

EOG Master

mr merlin

EOG Master

gopherbob

EOG Dedicated

dirty

EOG Master

WhatsHisNuts

2

mr merlin

EOG Master

Pay the Snucka

2

Spytheweb

EOG Addicted