Related: The History of the 'Money Changers
"Bernanke says economy is on the verge of recovery; In rally, big indexes finish with gains of at least 1.5%" by Globe Wire Services | August 22, 2009
NEW YORK - The mixed outlook was one of the main themes struck on the first of two days of the annual central bankers’ symposium in Jackson Hole, hosted by the Kansas City Fed bank. Monetary policy makers from South Africa to Mexico and economists dissected the causes of the financial crisis and debated how to prevent or mitigate the next one.
In Wyoming, European Central Bank President Jean-Claude Trichet echoed Federal Reserve chairman Ben Bernanke, saying the world economy is pulling out of its deepest slump since the 1930s while cautioning that threats to a recovery remain. Trichet said the presence of “green shoots’’ isn’t enough for him to declare the recovery sustainable.
And the dollar, which, like Treasurys, is considered a safe-haven asset, tumbled against other major currencies.
Oh, THAT SURE WAS KEPT QUIET by the AmeriKan MSM -- and is BAD NEWS for YOU, American!!! This is the COST of TRILLIONS in BAILOUT LOOT FLOODING the system and the LACK of CONFIDENCE in the dollar!
YOUR STANDARD of LIVING is about to take a BIG HIT, 'murkn!
You don't have to live like a Pakistani or Palestinian refugee -- but you will soon.
Of course, I'M WRONG! The GENIUSES who ALLOWED or ENGINEERED this crisis are gonna FIX IT for YOU!!
In other signs of investors’ growing confidence in the economy, oil prices touched their highest point of the year on hopes that energy demand will soon pick up....
See: Oil Companies Give BJ's to Americans
And OIL WENT UP because the DOLLAR TANKED!
WHY does the MSM ALWAYS LEAVE that connection out, huh?
So they can BLAME IT ON SOME "ENEMY?"
Still, the day’s news ended a week of erratic trading on Wall Street. Investors have been struggling with concerns about consumer spending, but the combination of Bernanke’s remarks and the home sales data pulled stocks out of the doldrums.
Just nine days after the Fed declared the economy to be “leveling out’’ rather than contracting, Bernanke went further, saying, “the prospects for a return to growth in the near term appear good.’’ Speaking at an annual Fed conference in Wyoming, Bernanke did warn that lending is not back to normal, and that the difficulty consumers and businesses are having obtaining loans will be a challenge. But his tone was the most optimistic it has been since the start of the financial crisis.
The stock market’s gains were broad, reaching across all industries, but the biggest jumps came from energy, industrial, and material stocks as oil and commodities prices soared. Bank stocks also rose sharply.
Wow, when you READ the ARTICLES BACKWARDS it REALLY SHOWS the FRONT-LOADED BULLSHIT!!!!
The Dow Jones industrials shot up 155 points yesterday, closing above 9,500 for the first time since Nov. 4, and all the big indexes finished with gains of more than 1.5 percent. Meanwhile, Treasury prices tumbled, pushing yields sharply higher, as investors no longer felt they needed the safety of government debt.
Translation: TAXPAYERS can be SCREWED for ANYTHING!
Bernanke said what investors wanted to hear, that the economy is indeed on the verge of recovery, and they responded with a rally that sent the major indexes to new highs for the year.
--more--"
So EVERYTHING'S GREAT, right, Geith?
"Geithner sees early signs of US recovery; Treasury chief cites trends in jobs, housing" by Robert Schmidt, Bloomberg News | August 21, 2009
NEW YORK - Treasury Secretary Timothy Geithner said the US economic recovery is still in its early stages, propelled by an improving job market and a housing industry that is beginning to stabilize....
Yeah, LOSING 275,000 jobs as opposed to 400,000 jobs is "improvement."
You can shut off those pumps now, Captain Smith. Titanic ain't going down because the water flow has eased. Call back the lifeboats!
Geithner visited an elementary school construction site to talk about government bonds issued with the backing of funds from the $787 billion stimulus plan....
Well, THAT is NOT STIMULUS!!!!
"That's not stimulus. Stimulus means starting a company that will CONTINUE to sell products and provide jobs after that stimulus money runs out. Like the road patching operations being funded with stimulus money, once the initial project is over, those people are out of work again, the stimulus money is gone, and there are no operating businesses making products for sale." -- Wake the Flock Up
That is LOOTING!!!!
See: Schwab Screwed Cities and States
The Treasury chief said job losses across the country have “slowed down,’’ banks are “starting to pay us back,’’ credit markets are beginning to “unfreeze,’’ and housing is stabilizing. “Overall, widespread fear is giving way to emerging confidence,’’ he said. “We are back from the brink.’’
Such a liar!
Responding to questions, Geithner said financial rescue costs to the government have been lower than expected, leading to less dire budget-deficit projections....
That is a STRAIGHT OUT LIE!!!!
President Obama’s budget office will announce the government’s deficit for 2009 will total $1.58 trillion, about $262 billion less than forecast in May, according to an administration official.
Why should we believe them?
WASHINGTON - The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said yesterday, a setback for a president already facing a Congress and public wary over spending.
The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year.
Related: Tax Collections Tell the Truth
In May, the White House predicted the economy would shrink by 1.2 percent this year, but the economy shrank 6.4 percent in the first quarter, the worst in nearly three decades. Ten-year forecasts are volatile figures subject to change over time.
Ha-ha-ha-ha!!
Is that the fancy terms they are using to explain lies these days?
But the higher number will likely create political difficulties for President Obama in Congress as he tries to overhaul health care and energy policy, and could create anxiety with foreign buyers of US debt.
See HOW MUCH the MSM OBFUSCATES or CONCEALS, folks?
Yeah, that DUMP in the BUCK couldn't have pleased or soothed China much!
Economists predict a slow recovery from the recession, further testing Obama’s goal of cutting the deficit to $512 billion in 2013. Now, the deficits could easily exceed 4 percent of the gross domestic product, even after cost-cutting efforts or new revenues claimed in Obama’s budget.
Such deficits have always prompted Congress and the White House to take politically painful steps to curb them, such as former president Bill Clinton’s tax-heavy 1993 deficit reduction plan. Obama could be forced to make deep spending cuts or to increase revenues, perhaps jeopardizing his promise to not raise taxes on individuals making less than $200,000 a year.
Hey, what is ONE MORE CAMPAIGN PROMISE BROKEN, 'eh, America?
Isn't it WORTH IT so that BANKS, WAR LOOTERS, and CORPORATIONS can PROFIT?
--more--"
Oh, I see. TWO DAYS LATER, on a Slow Saturday, it's FINE to let the LIE out of the bag.
The White House’s biannual budget review, set for release next week, will show the outlook for the fiscal year ending Sept. 30 improved mainly because of reduced costs associated with stabilizing the economy. That has allowed the administration to scrap a $250 billion contingency plan to aid the financial industry, the official said.
So they are SITTING on a SECOND BAILOUT for BANKS, 'ey, America?
And YOU WONDER WHY I AM FUMING?!!!!!!!!!!!!!!!!!!!!!
Geithner said that while credit markets have strengthened, “it’s going to take some time’’ before confidence fully returns to the financial system.
See: Credit Cards Are a Girl's Best Friend
This guy Geithner is a WORLD-CLASS FUCKING LIAR, huh?
Stocks advanced for a third day after American International Group Inc. said it expects to repay its government bailout. Earlier yesterday, a Conference Board report showed the index of US leading economic indicators rose in July for a fourth consecutive month.
The New York-based group’s gauge of the economic outlook for the next three to six months climbed 0.6 percent, less than forecast, after a revised 0.8 percent increase in June. Geithner also said the Treasury has allocated $22 billion through the Qualified School Construction Bonds program to help finance future investments....
You see what this guy is and who he is working for, right?
Some change, Obama.
On wonders why the Great Changelator didn't reach across the aisle and ask Ron Paul to be Treasury Secretary, although at this point, I imagine one does not wonder about that sheep-dipped tool posing as a president.
Oh, btw, GOLDMAN SACHS confirms the recession is over and you know those looters would never lie. Loot, yes, lie, no, right?
"Recession may have ended, economist says; Goldman analyst cites July gain in industrial output" by Carlos Torres, Bloomberg News | August 20, 2009
May have? MAY HAVE?!
Did you know that in college they told us words like COULD BE, IF, STILL, MAY BE, YET, BUT, and all the other cute words the newspaper likes to toss around were BAD WORDS for a REPORT?
WASHINGTON -The worst US recession since the 1930s might already be over, said a senior economist at Goldman Sachs Group in New York....
You know, one day it is since the Depression, the next it is since WWII.
F*** YOU! That make it clear enough, MSM?
F***ING lying about that they would LIE ABOUT ANYTHING -- and DO!
The projection was “highly tentative’’ and “a lot has to happen before we can state this conclusion with conviction,’’ he said....
Translation: HE'S TALKING UP a BIG, STEAMING, STINKING S*** PILE for you!!!!!
The job market, which is expected to deteriorate further, is the one component that may not confirm the contraction is over, McKelvey said.
Then IT AIN'T, a**hole!!
If JOB LOSSES CONTINUE then there IS NO RECOVERY!!!!!!!!!!
For that reason, McKelvey said the task of predicting when recessions begin and end is “counterproductive’’ since most Americans will continue to feel glum as the jobless rate climbs and payrolls fall.
Translation: the guy is doing this to you, reader.
Calling the end of the downturn comes “with considerable misunderstanding - bordering on distrust and disdain - from those who are experiencing recession by their own definition at first hand,’’ he said.
Yeah, wees rabble toos stoo-pids to reallys understands, you insulting sack of shit!
--more--"
Of course, WE ALL UNDERSTAND being LIED TO -- which is why the bitter Boston Globe is tanking and has been so insulting lately.
Massachusetts lost 2,800 jobs last month as the unemployment rate rose to 8.8 percent, according to the Executive Office of Labor and Workforce Development. That was up from 8.6 percent in June, which was highest unemployment rate in nearly 17 years.
Of the jobs lost in July, about 2,000 were government positions, the agency said. But one sector - leisure and hospitality - added 3,900 jobs, a possible sign that more people are dining out as the recession appears to be waning.
According to the July labor report for Massachusetts, the state’s manufacturing sector lost 1,900 jobs, its financial-activities sector shed 900 positions, and the construction sector was down by 700 jobs.
Now wait a minute; the math isn't right!
(3,900 added jobs minus 2,000 government leaves +1,900. Minus 1,900 manufacturing jobs = 0. 900 + 700 = 1,600 jobs lost)
Is there ANOTHER SECTOR of JOBS they are NOT REFERRING TO, or is it just MORE MSM LIES and/or OMISSIONS?
Nationally, the unemployment rate fell slightly in July to 9.4 percent, from 9.5 percent in June, but analysts cautioned against reading too much into either state or national numbers for a single month.
What the GLOBE IS CONCEALING:
"In fact, the main reason the unemployment rate declined last month was because hundreds of thousands of people, some discouraged by their failed job searches, left the labor force"
I think I've made my point, don't you?
More importantly, they said, job hunters could continue to face challenges in looking for work.
“There are indications that this will be a jobless recovery for a while,’’ said Andre Mayer, senior vice president for research at Associated Industries of Massachusetts, an organization of employers....
Then it is NOT a RECOVERY!!!!!!
Oh, so MORE PEOPLE LOOKING for LESS WORK!
--more--"
Oh, and here is a WEB PICKUP the Globe NEVER SAW FIT to PRINT!
"New jobless claims rise unexpectedly to 576K" by Christopher S. Rugaber, AP Economics Writer | August 20, 2009
Get those pumps going again, Cap'n!!!!!!
WASHINGTON --The number of first-time claims for unemployment benefits rose unexpectedly for the second straight week, a sign that jobs remain scarce even as other data show the economy is stabilizing.
Many economists expect the economy to grow at a modest pace in the second half of this year, bringing an end to the longest recession since World War II.
Readers, they MAKE MY CASE FOR ME!!!!!!
But jobs are likely to remain scarce and many analysts worry that persistently high unemployment could cause consumers to hold back on spending, threatening a recovery.
The Labor Department said Thursday the number of new jobless claims rose to a seasonally adjusted 576,000 last week, from a revised figure of 561,000.
HAVEN'T I BEEN SAYING the GOVERNMENT are LIARS with their "revised" data later?
Yeah, UNEMPLOYED REVISED UP from EARLIER, huh, LIARS?!!!!!!!!!!!!!
The Conference Board's index of leading economic indicators rose for a fourth straight month in July, gaining 0.6 percent. That was slightly less than economists expected and a slower rate than in the prior three months.
Gee, the PRINTED PAPER was CROWING ABOUT THAT WITHOUT the CAVEATS!!!!
Still, the Conference Board said its index, which is meant to project economic activity in the next three to six months, suggests the recession has bottomed out and growth in economic activity will begin soon....
And WHY SHOULD WE BELIEVE PROVEN LIARS, hanh?!!!!!!!!!!
Meanwhile, the Mortgage Bankers Association said more than 13 percent of American homeowners with a mortgage are either behind on their payments or in foreclosure, a record tally as the recession leaves more people unemployed....
But, but, but, the RECESSION is OVER!!! Goldman Sachs told me it was!!
Aaaaah, aaaaaah, aaaaaaaah (blog editor crying at the lying!)
The jobless claims figures are volatile, and had been trending down....
I think you now WHAT ELSE is VOLATILE, right, American?
The large number of people remaining on the rolls is an indication that unemployed workers are having a hard time finding new jobs. Still, layoffs have slowed recently. The department said earlier this month that companies cut 247,000 jobs in July, a large amount but still the smallest number in almost a year. The unemployment rate dipped to 9.4 percent in July from 9.5 percent, its first drop in 15 months....
Of course, they LEAVE OUT WHY!!!!
The recession, which began in December 2007 and is the longest since World War II, has eliminated a net total of 6.7 million jobs.
I guess it is WORD GAMES, huh, readers?
And WHY DID YOU WAIT 10 MONTHS to TELL US we were in RECESSION, MSM?
More job cuts were announced this week. Bethesda, Md.-based defense contractor Lockheed Martin Corp. said it will eliminate about 800 jobs in its space systems division, and San Francisco-based video and audio conferencing company Polycom Inc. said it will cut 3 percent of its 2,600 person work force.
Pfft! Pfft!
What a fart-fuck-in-the-face insult to the American people!
Yeah, LOCKHEED and the WAR DEPARTMENT are CUTTING JOBS!!!!!
I can SEE WHY the GLOBE WOULDN'T WANT to PRINT THIS in the PAPER!!!
Their reputation is s*** enough!!!
