"all the talk about a significant recovery this year may be greatly exaggerated"
"Financial advisers don't foresee quick rebound" by David Pitt, Associated Press | May 31, 2009
The US economy may be on track for recovery later this year, but growth is likely to be muted, unemployment elevated, and government regulation of markets on the rise.
Those are the predictions of some of the nation's leading mutual fund managers and financial advisers gathered last week in Chicago to swap stories, share strategies, and look ahead to the coming months. The financial industry professionals are trying to sort through the conflicting economic indicators and the resulting rallies and retreats in the stock market at the Morningstar Investment Conference, one of the largest such gatherings held each year....
Reasons for those long-term changes are rooted in the complexity of the economic meltdown that has swept through financial services, housing, and automotive industries. The situation is made worse by excessive borrowing by financial services companies and consumers. As that indebtedness is unwound in the economy, it will take years to get back to the point where consumers can spend as freely again....
If ever:
“Either a prolonged, agonizing depression that dooms the world to decades of stagnation, decline and poverty ... or an intense-but-shorter depression that paves the way for a new sustainable economic world order, with less sovereignty but more efficiency.”
What, you didn't read about that in the Boston Globe?
The mood of conference attendees appeared mostly upbeat considering the beating fund managers have taken in the market and financial advisers have taken from their clients, who wonder why the professional investors couldn't avoid the 20 to 30 percent losses many portfolios suffered. Many fund managers are talking about investment opportunities found in undervalued stocks of financially sound companies. Because they didn't mean to.
When are people going to wake up to the fact that EVERYTHING in POLITICS and ECONOMICS is done ON PURPOSE!??
Others, however, continue to say all the talk about a significant recovery this year may be greatly exaggerated and it's too soon to jump fully back in the market. The conference convened at a time when stock volatility, which has become all too common, returned.
Uh-oh! That's a sign.
The Dow Jones industrials climbed 196 points Tuesday on news that consumer confidence was pointing to a possible economic rebound later this year. It all reversed course Wednesday, however, and the Dow lost 173 points, on news that borrowing costs may increase. The Dow is still 26.8 percent above the lows it reached in early March, but 41.4 percent below the record high it hit in October 2007. Thursday saw the markets bounce around a bit more with the Dow ending up about 104 points.
I don't care about the Dow. To me, it is like a rigged game; the top 30 corporations are counted, and as we saw with GM this week, if it does crappy they drop the stock and replace it with a better performing one. Like I said: rigged.
Conference participants had some tough questions for fund managers and other investment experts about why some of them, considered the leading economic minds of our time, didn't foresee the home mortgage meltdown, the banking crisis and the resulting stock market crash.
Oh, THEY SAW IT! They just DIDN'T TELL YOU about it, readers!
In one session Wednesday, a question was raised about who was at fault for failing to see the downturn coming. The result caused investors, including many with 401(k) retirement funds invested in mutual funds, to lose large chunks of their portfolios.
"I think this sort of blame game going on is an outcome of the fact that it is a very much of an emotional experience for people and nobody really likes to take the blame on themselves," said Karen Dolan, director of fund analysis for Morningstar. "I think when you let emotion enter the picture, that's when it gets a little dangerous."
Well, TELL THAT to the LYING, FEAR-MONGERING, AGENDA-PUSHING WAR-PROMOTERS of the AmeriKan NEWSMEDIA!!!!
The discussion continued into Thursday with speakers explaining why they were caught off-guard by the depth and breadth of the market meltdown. Things have changed for investment professionals, too, who are likely to see their compensation change significantly as investors push for lower fees and more accountability in the profession....
Yeah, right, there is going to be more accountability.
There hasn't been any yet, and with the money-masters pulling their puppets strings in D.C., I wouldn't be waiting on it.
Hey, what's one more MSM smoke-blow up the old wazoo, 'eh?
--more--"
Yeah, screw the Dow; this is what I care about:
"May unemployment may exceed 9%" by Bloomberg News | June 1, 2009
WASHINGTON - .... depriving Americans of the income needed to propel spending and stoke a vigorous recovery. Access to credit will probably be limited as record defaults and foreclosures make banks reluctant to lend.
O' WHERE, O' WHERE, has that BAILOUT DOUGH GONE,
O' WHERE, O' WHERE COULD IT BE???
The economy has lost 5.7 million jobs since the recession began in December 2007, the most of any economic slump in the post-World War II era.
Please remember the AMOUNT of JOB LOSSES, readers, and THEN ask yourself IF the RECESSION BEGAN in DECEMBER 2007 how come the MSM and GOVERNMENT didn't tell us until OCTOBER 2008?
Oh, but the AmeriKan MSM is TELLING YOU the WHOLE TRUTH and NOT CONCEALING ANYTHING, yup!!!!
Ready for another shovel full of s***?
"Upbeat economic reports raise hopes US recession is waning" by Jeannine Aversa, Associated Press | June 2, 2009
WASHINGTON - Fresh signs emerged yesterday the recession is letting up.
This from the same liars that hid the recession for 10 months!
Yup, HID IT for TEN MONTHS and NOW, just as they tell you about it, they SAY WE ARE COMING OUT OF IT (until you read the next article).
Pffffffffttttt!!!!
Manufacturing's slide is slowing. Builders are boosting spending on construction projects - including homes. And consumers aren't cutting back as much as some had feared.
Just keep all that in mind, readers. STILL SLIDING, right?
A trio of reports gave Wall Street a big lift on the same day that industrial icon General Motors Corp. filed for bankruptcy protection Investors and economists focused instead on the encouraging news about the economy.
Yo-yo, yo-yo, yo-yo, yo-yo, woah! I'm getting dizzy from the jerking, MSM!
"What looked like a flicker of light at the end of the tunnel is now starting to look like a beacon," said Richard Yamarone, economist at Argus Research. "We are no longer in the deep throes of recession. A recovery may be just a few months away."
Economists were especially heartened by a report from the Institute for Supply Management that showed US manufacturing activity shrinking at a slower pace in May....
Oh, SOME REPORT came out and EVERYBODY GRABS ONTO IT likes it's a gold-coated turd!!!!
Another report, from the Commerce Department, said construction spending rose a surprising 0.8 percent in April. Economists had been expecting a 1.2 percent decline. It marked the second straight month that construction spending has risen.
Oh, the COMMERCE DEPARTMENT SAID, 'eh?
Related: Commerce Department Lies About Economy
Government Continuously Lying About Economy
April's Economic Showers
Yeah, the GOVERNMENT SAID -- and YOU KNOW WHERE THAT GOES, folks! Hear that FLUSHING SOUND!?
A third report showed consumers trimmed spending by 0.1 percent in April, slightly less than the 0.2 percent reduction economists were forecasting. Still, it marked the second straight month that consumers cut back, a reminder that many shoppers remain wary.
Yup, COULD BE, IF, MAY BE, STILL, BUT, HOWEVER, -- I am SO SICK of S*** JOURNALISM!!!!!!!!!!
Yeah, this is the point in the article where they let you know everything before it was perfume-saturated shit!!!!
With unemployment rising, consumers are expected to stay cautious in the months ahead. Because consumer spending accounts for roughly 70 percent of overall economic activity, it's closely watched by economists.
Translation: We just shoveled a big pile of scitte at you, newspaper readers!!!
--more--"
NEW YORK - The stock market began June with a strong rally, thanks to another wave of benign economic data. But some investors are nervous that the month, traditionally a weak one for stocks, may not end as well.
Traders homed in yesterday on better-than-expected readings on manufacturing, consumer spending, and construction spending.... it did serve as a reminder of the government's heavy involvement in corporate America.
Separately, a trend that had ruffled investors last week - falling Treasury prices and surging yields - resumed yesterday, but the stock market shrugged it off. A spike in long-term Treasury yields could drive interest rates on consumer loans higher.
Despite the appearance that stocks are resuming their climb, a number of analysts think the market has come too far, too fast since hitting 12-year lows in early March. "I can't really buy into today's super-happy stock market," said Kim Caughey, equity research analyst at Fort Pitt Capital Group. She said she was skeptical because even if the economy is stabilizing, there is little to drive demand once it bottoms....
So it hasn't even BOTTOMED YET and we are hearing RECOVERY TALK when there is NO BASIS for RECOVERY?!! Oh, SAY IT AIN'T SO, Irene!!!
So far, this year's stock market has had an eerily similar pattern to last year's, noted Shaeffer's Investment Research analyst Todd Salamone, falling until mid-March and then gaining through May. Then in June of last year, the market started to sink....
Oh, GREAT!
--more--"
At least there are s*** service jobs to be had:
WASHINGTON - Service industries across the nation shrank at a slower pace in May, while job losses mounted, indicating that any economic recovery will be slow to develop.
Is your mouth full of enough s*** yet, readers? See why I'm having a problem reading this stuff every day, never mind riting about it?
The Institute for Supply Management's index of nonmanufacturing businesses, which make up almost 90 percent of the economy, climbed less than forecast.... ADP Employer Services estimated companies cut 532,000 workers from payrolls.
"These reports throw cold water on the notion that this aircraft carrier that is the economy will turn on a dime," said Tim Quinlan, an economist at Wachovia Corp. in Charlotte, N.C. "We are heading into a long, gradual recovery that will finally culminate in positive economic growth at the end of this year."
Federal Reserve chairman Ben S. Bernanke projected the economy will suffer sizable job losses in coming months that will restrain consumer spending. Stocks retreated for the first time in five days because of concern that increases in unemployment will hobble the early stages of any expansion later this year....
Look at them BLAMING the TAPPED-OUT CONSUMER for the woes while THEY and the ELITES THEY COVER FOR LOOTED the place!
An inability by consumers to sustain gains in spending on concern over rising unemployment is among reasons the next expansion will probably be subdued. The economy has lost 5.7 million jobs since the recession began in December 2007....
Which again, we were not told about for 10 months -- and now we are getting mixed messages from the ass-covering assholes!!!!!!!!!
YOU BET I'M ANGRY!!! WHO LIKES being LIED TO?
Two of the worst-performing parts of the economy show signs of steadying. Manufacturing fell the least in eight months in May as new orders climbed for the first time since the recession began, ISM had reported. At the same time, the auto industry bankruptcies of General Motors Corp. and Chrysler LLC may limit any rebound in factory activity.
Homebuilding, which is included in the services index, may be past its worst declines. Construction of single-family homes advanced in April after holding near a record low the previous two months, according to the Commerce Department.
Oh, a MAY BE from the COMMERCE DEPARTMENT again!!!
Where is that SALT SHAKER (I need my MSM lies with a grain)?
--more--"
But hey, sniff on the bright side, 'murka!
NEW YORK - Although consumer confidence may be increasing, it's not showing up at the cash register yet. Many retailers posted disappointing May sales yesterday, and food and necessities remained high on shoppers' lists.
Nationally, same-store sales fell 4.6 percent, according to a retailing survey. The figure, the 10th straight month of declining sales, was worse than the 3 percent drop predicted.
But confidence is up, pfffft!
The lower-than-expected results did not include Wal-Mart stores, which in recent months has boosted total results but has stopped reporting monthly figures for the tally compiled by Goldman Sachs and the International Council of Shopping Centers. Last month's same-store sales had edged up with Wal-Mart, the world's largest retailer....
I think I covered that somewhere else on this page today.
The disappointing results countered faint signs that the gloom of recession is lifting. The Labor Department said yesterday the number of Americans on the unemployment rolls fell slightly for the first time in 20 weeks, while the tally of new jobless claims also dipped.
Yeah, they will revise both upwards next month!
In May, the Conference Board's Consumer Confidence Index rose to its highest level since September. And several retailers, including BJ's and TJX Cos., indicated that traffic improved last month. But those factors generally did not translate to sales, as job worries and falling home prices are still clearly weighing on consumers.
Have you had enough MSM bulls*** yet?
"Consumers are out shopping, but they're looking for value...."
They always got an excuse at the ready, don't they?
--more--"
Back to the s***-shovel:
WASHINGTON - Fewer American workers filed claims for jobless benefits last week, signaling the worst phase of the employment slump has passed....
Ooops! Just gagged up my whole fill!!!!
figures from the Labor Department showed....
Another Labor report showed worker productivity rose more in the first quarter than previously estimated.
Yeah, sure, I'm going to believe the lying government.
Greater efficiency is contributing to an improvement in profits that will likely lead to fewer job cuts in coming months, analysts said.
Why? Why would they lead to fewer job cuts and not more profits?
Also, don't you just love American workers making their own noose?
Labor's payrolls report today may show employers cut more than 500,000 workers in May, according to the Bloomberg survey median, bringing total job losses since the recession began in December 2007 to 6.2 million....
That's MILLION, folks!
Let's keep running with that "good" news, shall we?
"US job losses slowed in May; Recovery hopes rise, but unemployment reaches 9.4 percent" by Peter S. Goodman and Jack Healy, New York Times | June 6, 2009
The US economy shed another 345,000 jobs in May as the unemployment rate surged to 9.4 percent, but the losses were far smaller than economists expected, amplifying hopes of recovery.
Oh, it was LESS than FORECAST so the LOSSES (that are never coming back) are a SUCCESS!
What a SHELL GAME!! Say the SKY is FALLING or OVER ESTIMATE the losses, then come back and UNDERESTIMATE (revisions pending) the losses and CLAIM SUCCESS!
Hey, cap'n! WATER STILL COMIN' IN THE BOAT!!!!!!
"It supports the idea that before the end of the year and maybe even by late summer we could be at flat employment," meaning no more net job losses, said Alan D. Levenson, chief economist at T. Rowe Price in Baltimore. "During the course of next year, we'll probably start to feel better."
This is journalism?
This is an economic expert assuring us with his scientific understanding and acumen of his craft?
Wall Street saw some fresh signs of potential revival in the better-than-expected report from the Labor Department yesterday, and stocks moved moderately higher after some hesitation, only to retreat a bit in the afternoon.
Need I even type it, readers?
But many analysts emphasized that the marked slowdown in the pace of job market deterioration - while positive - did not alter the reality that the economy remained very weak, with grave challenges still bearing down on millions of households and businesses.
But KEEP SHOVELING that SHIT, government and MSM, and MAYBE SOMEONE will CALL IT PERFUME, 'eh?
"These are still terrible numbers," said Ian Shepherdson, chief US economist at High Frequency Economics. "We're a million miles away from a recovery."
But that hasn't stopped the s*** press from farting their fucking agenda-pushing asses off!
Yeah, MY LANGUAGE is a PROBLEM compared to this RANCID, ROTTED and FETID FECES that passes itself off as "news."
Rather than a sign of renewed vigor, the latest monthly snapshot of the job market suggests the end of the acute panic suffered last fall, when the investment bank Lehman Brothers collapsed and credit froze throughout much of the economy.
Says who? The agenda-pushing New York Times?
"That wild disgorging of inventories and workers that we saw in the aftermath of Lehman, what you're seeing is the reversal of that dynamic," said Robert Barbera, chief economist at the research and trading firm ITG....
Oh, really? Are they ADDING JOBS by the TENS of THOUSANDS? No?
Pfffffftttt!
Readers, WORDS can not capture how PISSED OFF I AM at this point -- and this is only one post!! The ACCUMULATION of BULLSHIT LIES and AGENDA-PUSHING PROPAGANDA is BEYOND TOLERANCE and BEYOND BELIEF!!!!!
NO WONDER NEWSPAPERS are TANKING! I'm a FAITHFUL PATRON and PURCHASER and LOOK WHAT THEY ARE DOING TO ME!!!!!!
But conspicuously absent, Barbera said, was any sign of a fresh engine for economic growth. Although home prices appear to have hit bottom in some areas of the country, construction remains weak. The auto industry and retailing remain mired in distress. The job market is likely to remain in the doldrums for many months, he said.
You know what else is "conspicuously absent?"
TRUTH from the AmeriKan MSM!!!!
For more than a decade, economic growth and attendant American job opportunities were fueled by swelling wealth and liberal access to credit. As home prices soared, homeowners availed themselves of myriad forms of credit that turned increased real estate values into cash. They sprinkled this money on an array of industries, generating jobs from auto factories and lumber mills to construction companies and restaurants.
Yeah, the bankers and the Fed were so looking out for us for so long, huh, Amurka? What happened?
This is such rank pornography passing itself as journalism I'm not sure I can write here anymore.
Now, as paychecks disappear, consumers are increasingly inclined to save - a source of broad grief in a country in which consumer spending makes up roughly 70 percent of economic activity.
Yeah, it is YOUR FAULT if the economy stalls, looted and taxed-out consumer!
Now, how you are going to do this with NO JOBS and NO MONEY is a NEAT TRICK! Let me know how it turns out.
The ELITE INSULTS are BEYONG BELIEF -- and they are LAUGHING while they do it, Amurka!!
"It's welcome news that payrolls are declining more in line with other recessions, but we need consumption," said Lawrence Mishel, president of the labor-oriented Economic Policy Institute in Washington. "People are not going to be moving forward based on housing wealth, and they're not going to be taking on debt. They've got to get wage growth."
And that is a pro-labor guy to the MSM?
Indeed, wage growth has been stagnating even as gasoline and medical costs rise, putting pressure on household finances....
How is that pumped-out ass feeling, America?
The jobs report presented a statistical puzzle.
Pffft!
On the one hand, the net decline in jobs was much smaller than expected and the lowest figure since September. The economy lost an average of more than 700,000 jobs a month during the first three months of the year. The pace of losses eased to a revised 504,000 in April and then fell more in May, a welcome sign of improvement.
Yup, the boat ain't sinking as fast, so no need to worry.
Must not need a bailout quite yet, huh?
At the same time, the unemployment rate leapt to its highest rate in more than a quarter-century, reinforcing fears that joblessness will probably reach double digits.
Yeah, but DON'T WORRY about the LACK of JOBS, s***-eating (if you read the American newspapers) Amurkns!!
