Now here is the first thing I want you to keep in mind as you read this section of stories: Would you believe someone who TOLD the TRUTH about the the recession the first time as opposed to these geniuses who are "fixing" it and lied about (or hid what they themselves engineered) it the SECOND TIME AROUND?
Related: What Type of Recession Is It?
So ONCE AGAIN GOVERNMENT and MSM have been either LYING TO YOU or at the very least, DECEIVING YOU, America. Every day, day after day. And they wonder why they are no longer believed?
"Markets specialist says stocks have risen too fast" by Bloomberg News | October 5, 2009
ISTANBUL - New York University professor Nouriel Roubini, who accurately predicted the financial crisis, says stock and commodity markets may drop in coming months as the gradual pace of the economic recovery disappoints investors.
“Markets have gone up too much, too soon, too fast,’’ Roubini said Saturday. “I see the risk of a correction . . . That might be in the fourth quarter or the first quarter of next year.’’
Stocks have surged around the world in the past six months as evidence mounts that the economy is emerging from its deepest recession since the 1930s.... “The real economy is barely recovering while markets are going this way,’’ Roubini said. If growth doesn’t rebound rapidly, “eventually markets are going to flatten out and correct to valuations that are justified.’’
The International Monetary Fund predicts the global economy will expand 3.1 percent in 2010, led by growth in Asia, after a 1.1 percent contraction this year. That is still “anemic’’ and “very weak,’’ Roubini said. The global equity rally has added about $20.1 trillion to the value of stocks worldwide since this year’s low on March 9.
How come that hasn't filtered down to the 401ks, 'murkan?
Governments have poured about $2 trillion of stimulus into the global economy, while central banks have cut interest rates to close to zero in efforts to revive growth.
Thanks for the interest-costing borrowing of a sugar high so you could look good, government.
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Now for the agenda-pushing liar's side of things:
NEW YORK - US service industries expanded in September for the first time in a year as the emerging recovery spread from housing and factories to the broader economy....
Really?
Please see MSM Talking Down Economic Recovery for comments on those sectors.
What, MSM lying to you again, America.
I'm going to pass on the commentary because I'm really feeling angry and hurt at the never-ending horse-bleep shoveled in the BG's business pages.
Job losses are a concern, said Anthony Nieves, chairman of the ISM’s nonmanufacturing survey. “Until we see employment come back, we are not going to see dramatic growth in the economy.’’
NEW YORK - After parents cut back on clothes and accessories for children this past fall, the retail industry suspects they won’t be any more generous by the holidays.
Who can be GENEROUS without any JOBS -- other than BANKSTERS, WAR-PROFITEERS, and an ENABLING GOVERNMENT thieving tax loot.
Related: Corporate Cheerleaders
Sis-boom-bah, Glob.
The National Retail Federation, usually bullish about holiday sales, predicts a 1 percent decline. The projection from the world’s largest retail trade group comes amid forecasts that US retailers saw a key measure of sales drop in September for the 13th month in a row compared with a year earlier....
“We just don’t see a sharp turnaround in consumer sentiment and spending until employment and income look a lot better,’’ said Rosalind Wells, the group’s chief economist. “Shoppers are going to remain very frugal.’’
Like it is the public's fault this thing is failing after all the Fed did for you to set up a recovery -- and you blew it, Amurkn consumer.
NRF’s figures exclude sales from restaurants, gasoline, automobiles, and online business; they include low-price retailers, department stores, grocery stores, and specialty stores. Last year, the Washington-based NRF issued a 2.2 percent growth forecast in mid-September just as the financial meltdown ballooned.
Like I said, who you going to believe?
The trade group decided not to offer a reduced estimate because the spending climate was deteriorating so quickly that forecasters couldn’t be accurate. The industry ended up having the weakest holiday season - when compared with the previous year - since at least 1967, when the Commerce Department started collecting retail sales data.
And THIS YEAR is going to be WORSE!!!
So far, holiday 2009 forecasts range from as weak as a 3.5 percent decline from Wells Fargo senior economist Mark Vitner to predictions at the top end from Deloitte Research and TNS Retail Forward that sales will be the same as last year. Job security is a key factor in consumers’ ability and willingness to spend, and the latest government jobs report, issued Friday, fueled more concerns about the holiday shopping season.
What "security?"
If anything it is INSECURITY out there -- just they way the masters want it.
The figures showed unemployment ticking up....
Those seeking work also have fewer prospects...
Meanwhile, shoppers continue to grapple with tight credit and dwindling net worth....
Why would that be, readers, after the TRILLIONS in LOAN LIQUIDITY the Fed pumped in and the RISE of the STOCK MARKET?!!
You mean YOU, John Q. Public, are NOT SHARING in the BOODLE?
Proof of it:
"Consumer bankruptcies top 1 million since Jan." by Bloomberg News | October 3, 2009
NEW YORK - US consumer bankruptcies rose past 1 million through the first nine months of the year, the highest since 2005 changes to bankruptcy laws....
“Bankruptcy filings continue to climb as consumers look to shelter themselves from the effects of rising unemployment rates and housing debt,’’ said Samuel Gerdano, executive director of the Bankruptcy Institute....
Not a good sign for that vaunted recovery -- and guess who they are going to blame for failure, 'murkn consumer?
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