Re: Why is it that whenever I hear Democrats talk like ...
The economy is just fine...
Do you live in a hole smoking crack all day, WTF are you talking about?
START FUCKIN READING AND STOP WITH YOUR IGNORANT COMMENTS
The Truth about: Recession 2008
Skewed Unemployment Statistics Mislead America
Tuesday, August 12, 2008
An indisputable sign of the dismal state of the U.S. economy is the closing of stores by retail giants such as Dillard?s Inc., J.C. Penny?s, Lowes, Office Depot and Macy?s. It is no longer the mom-and-pops shop down the street being run out of town by the corporate giants. Foot Locker will be closing 140 stores, Gap Inc. 85 stores.
Sprint Nextel will shut down 125 retail locations, which will affect nearly 4,000 employees after 5,000 layoffs last years. The next round of large layoffs will likely be in the automotive industry, where Ford?s sales plunged 28 percent in June, along with General Motors and Toyota.
Three Out of Four Americans Agree: Economy in Shambles
Monday, August 25, 2008
Amid a mortgage meltdown witnessed by millions of Americans losing their homes, being involved in a deepening credit crisis, saddled in extremely high rates of inflation and ongoing job losses, three out of four Americans believe that the U.S. economy is in bad shape, according to a CNN/Opinion Research poll released Monday. That is up from 43 percent of respondents that believed that economy was in bad shape one year ago.
Thursday, August 28, 2008
Today, everyone agrees that the economy is their principal concern. But no one wants to mention the most damaging effect to the economy-- outsourcing: the outsourcing of jobs; the outsourcing of production; the outsourcing of technology; the outsourcing of research; the outsourcing of investments; the outsourcing of the economy.
Bankruptcy Filings Border One Million
Thursday, August 28, 2008
As the economy continues to toil through the worst recession seen in decades, the number of individuals and businesses filing bankruptcy claims has swelled. This is yet another sign of the dire state of the economy and more proof that a new direction must be taken to put the American middle-class back on top.
Total filings are up 29 percent from the 12 month that ended June 30, a government report said Wednesday. That puts the number of filings at 967,831, up one year earlier from 751,056.
Economic Conditions Taking Their Toll On The Movie Industry
Tuesday, August 26, 2008
The current economic conditions have infiltrated the movie industry. Producer Paula Wagner?s departure from Metro-Goldwyn-Mayer?s United Artists earlier this month initiated Wall Street buzz regarding MGM?s possible sale, according to BusinessWeek. Despite an Aug. 25 press release stating the epic studio is not on the market, other factors indicate we may soon be witnessing the sale of a movie-manufacturing behemoth.
Housing Market Key to Economic Recovery
Monday, August 25, 2008
The fate of the lagging U.S. economy is in the hands of the housing market, according to some analysts. The market?s ability to recover over the next few months is likely to determine whether the economy begins to improve or sinks into the deepest recession since the early 1980?s The prevailing belief among economists is that in order for the housing market to recover there needs to be around a 10 percent drop in prices to lure in more buyers.
"Another 10 percent down would put prices back consistent with rents and incomes. That's a signal that housing affordability has been restored for most potential home buyers," Mark Zandi, chief economist at Moody?s Economy.com said. However, if credit standards continue to tighten even a 10 percent drop in prices may not be enough to allow the market to rebound.
Buffett: We're Already In a Recession
Friday, August 22, 2008
Warren Buffett, named the world?s richest man by Forbes magazine in March, said the economy is still mired in a recession and isn?t likely to come out of it before 2009.
Buffett appeared on CNBC to promote the new movie, I.O.U.S.A, which seeks to highlight the dangers of the nation?s mounting debt.
Another Sign of a Recession
Thursday, August 21, 2008
In yet another sign that the economy is already well within a recession and shows no signs of coming out of it any time soon a private business group?s measure of the health of the U.S. economy fell much lower than expected in July. The New York-based group The Conference Board reported Thursday that forecasts for future economic activity fell 0.7 percent, much more than the expected 0.2 percent. The index held steady in June, with no change, after falling 0.9 percent for the six months ending in July.
Inflation Worries Growing
Tuesday, August 19, 2008
Wholesale prices have reached their highest annual rates in 27 years, according to a report released Tuesday by the government, leaving many worrying about increasing inflation.
The Annual Producer Price Index (PPI), which measures the price of finished goods, rose 9.8 percent in the 12 months that ended in July. That represents the fastest rise in the PPI since a 10.4 percent increase in June 1981.
Inflation Hits 17 Year High
Thursday, August 14, 2008
Inflation has hit a 17 year high in the face of skyrocketing energy and food prices coupled with a softening job market, according to
Reuters.
The Consumer Price Index, which is commonly used gauge of inflation, rose 0.8 percent in July to climb to a 5.6 percent rise for the year.
Household Spending to Decrease for First Time in 16 Years
Monday, August 11, 2008
For the first time since 1992, U.S. household spending will likely decrease next quarter, according to
Bloomberg News.
Analysts blame the waning effects of the $168 billion stimulus package, the surge in commodity prices - especially fuel and food - and the steady decline in consumer buying power as salaries fail to keep pace with inflation. They also believe that the odds of a
recession occurring is more likely than not, putting the odds at 51 percent.
Spending is likely to grow at 0.6 percent through September, down from 1.5 percent the previous three months. The sharp decline is due to the fact that the impact of the tax rebates will be over by the fourth quarter of the year, as most remaining checks were sent out in July.
Highest Inflation in 27 Years Leaves Federal Reserve Fearful
Monday, August 04, 2008
The Commerce Department?s June report showed a 0.8 percent rise in consumer prices for the month, making it the highest inflationary period since February 1981, according to
Bloomberg.com.
Unemployment Rate Soars To 5.7 Percent
Monday, August 04, 2008
Monday's latest announcement offered little hope for an economic turn-around as unemployment hit a staggering four year high at 5.7 percent.
As the American economy continues to grow worse, the number of expected job cuts for the month of July is likely to total the second highest for the year. 103,312 jobs are expected to be cut, a 26 percent increase from the previous month and a staggering 141 percent increase from the same period just one year ago.
17 of 25 industries tracked are expected to cut jobs, according to
CNNMoney.com. The hardest hit industry was the
transport sector which is expected to lose 17,051 jobs, mainly due to rising fuel cost and lagging ticket sales. The financial service industry was also hit particulary hard with job losses in the past month, losing a total of 15,517 jobs in the month of July.
GDP Growth Falls Short Of 1.9 Percent Expectation
Friday, August 01, 2008
Announcements on Thursday confirmed expectations that
the under-performing economy will continue to remain stagnant when gross domestic product increased at a sluggish 1.9 percent, less than the projected 2.3 percent, according to
Bloomberg.com.
Citizens feel the pain of a recession through job losses, rising prices, credit crunches and home foreclosures. More than 80 percent of the nation and many economists believe we are experiencing a recession. However, the White House and Fed deny a ?technical? recession is occurring.
Surges In Jobless Rate Expected
Thursday, July 31, 2008
The economy showed no signs of recovering as the Department of Labor is expected to announce that employers have cut jobs for the seventh straight month and a rise in the unemployment rate to 5.6 percent.
The news comes ahead of an employment report to be released Friday that paints an even darker picture for the state of the economy.
Jobless Rate Continues To Rise
Thursday, July 31, 2008
The economy showed no signs of recovering as the Department of Labor is expected to announce that employers have cut jobs for the seventh straight month and a rise in the unemployment rate to 5.6 percent in a report to be released Friday.
That news follows a report from the Department of Labor showing a spike in the number of unemployment filings, marking the highest number of jobless claims filed since 2003.
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