And he is really laying it on thick.
"Bay State economy slips, while US grows; Jobs remain a concern as federal stimulus nears end" by Robert Gavin, Globe Staff | January 30, 2010
The US economy grew at its fastest rate in more than six years at the end of 2009, while the Massachusetts economy slipped slightly, according to two reports released yesterday.
Supported by low interest rates and massive federal spending, national economic activity accelerated to a 5.7 percent annual rate in the last three months of the year from 2.2 percent in the previous three, the US Commerce Department reported.
Yeah, the government initially reported a 3.5% gain then revised it to 2.8 before settling at 2.2. I'll wait for the revisionist lies, thanks.
It was the second consecutive quarter of growth for the nation’s economy, and the fastest rate of expansion since 2003.
Despite the strong growth, the economy could sputter in coming months unless it begins to generate jobs and bring down the national unemployment rate, which is higher than it’s been for more than 25 years, analysts said. The nation lost more than 7 million jobs since the recession began at the end of 2007.
Related:
"The economy has lost more than 8 million jobs since the recession began in December 2007"
Technically not a lie, but an obfuscating deception? Yeah.
And how come you guys hide the recession for ten months?
Didn't want to make Bush look bad?
“The economy’s engine is running, but to some degree we’re still in a ditch spinning our wheels,’’ said Bill Cheney, chief economist at John Hancock Financial in Boston....
In Massachusetts, the picture was notably grimmer, as economic activity shrank for the sixth consecutive quarter, the University of Massachusetts reported yesterday. The state, however, is probably not lagging the nation quite as badly as it appears, analysts said, explaining that technical factors in the UMass estimates exaggerated the weakness of the state economy.
Had enough s*** tossed at you yet, readers?
For example, employers here and across the country have met growing demand by producing significantly more with the same or fewer workers. That productivity growth was factored into the national estimate, but not the UMass study.
“The result is the difference between US and Massachusetts growth rates in this report is likely to be overstated,’’ said Alan Clayton-Matthews, a Northeastern University professor who analyzed a variety of economic data for the UMass report. “We are probably on a similar path as the nation.’’
The state’s economy sustained several blows at the end of last year as consumers spent cautiously and employers slashed thousands more jobs. The unemployment rate in December surged to 9.4 percent, the highest level in more than 33 years.
After the Glob here told us things were turning around!
Yeah, WE DON'T HEAR YOU and we NO LONGER BELIEVE the LIES, Glob.
As a result, the state’s economy shrank at a 0.2 percent annual rate in the final three months of 2009, according to UMass. But it was still a dramatic improvement from earlier in the year, when the Massachusetts economy shrank at a 4.3 percent rate in the first quarter.
Yeah, there is STILL WATER coming into the SINKING BOAT, but.... PFFFFFFFFFTTT!!!!!
Analysts said December’s setbacks were likely temporary, and the state should grow slowly over the next six months. Despite the struggling labor market and weaker-than-usual holiday spending, several other indicators point to a rebound over the next several months.
Related: Christmas in the bag
Shoppers spent a little more this season
What more is there to really say, anyway?
This isn't a "newspaper report"; this is BULLSHIT!!!!!!!!!!
Exports and technology product sales are increasing in Massachusetts, Clayton-Matthews said, and home sales and prices are rising. The pace of layoffs is slowing, and key state employment sectors such as education and health care, and professional, scientific, and technical services have consistently added jobs over the past several months.
Sigh.
In another good sign for the state’s economy, the Commerce Department reported that business spending on equipment and software - two major Massachusetts products - surged in the last three months of 2009, growing at double-digit annual rates.
“The point is that the state’s economy is stronger than December and the fourth quarter indicate,’’ Clayton-Matthews said.
Yup, Gavin's little helper. Hey, it's a lot of shit they are shoveling here!
On the other hand, analysts said, the national economy may not be as strong as its fourth-quarter performance suggested.
Translation: YOU ARE BEING LIED TO!
Much of the growth reported by the Commerce Department was driven by firms increasing production to maintain inventories, which analysts don’t expect to continue in the months ahead.
“We must be careful in drawing implications for the future,’’ said Nigel Gault, chief US economist at IHS Global Insight in Lexington. “Growth is likely to be subdued by historical standards.’’
This is the same guy who said we were "just on the verge of turning positive" and that "it is probable we will see actual job gains, on average, during the first quarter."
Translation: It is WAY WORSE than what the government and their mouthpieces are telling you, America!
And they WONDER why NO ONE BELIEVES them or buys their "newspapers."
Evidence is mounting that employers are hiring again, but cautiously.
Related: Output up, but firms hold off on hiring
Man, the s*** is starting to spill out the room there is so much of it.
As a result, economists expect the jobless rate to remain high over the next year and retreat only slowly.
It is likely to take another six months before the state’s economy begins to experience steady improvement, said Robert Nakosteen, an economics professor at the UMass Isenberg School of Management.
“We’re in the middle of a long slog,’’ Nakosteen said. “The economy is trying to get to a spot where we’re in a self-sustaining recovery, but there’s just no traction yet.’’
Hard to get traction when the floor is covered with MSM shit!
Especially when they keep adding more:
"Pointing the way toward recovery; Growing sales could mean hiring will begin to pick up" by Robert Gavin, Globe Staff | February 4, 2010
For a snapshot of what’s happening in the economy, look no further than Wall Street.
Yeah, f*** you, Main Street!!!
Over the past few weeks, most of the nation’s leading corporations have reported earnings from the last quarter of 2009, and the picture emerging is one of broadly improving economic conditions.
Whatever, Glob.
I've been hearing and reading the same s*** for MONTHS from this guy.
From technology to health care to consumer goods, companies are reporting not only better-than-expected profits, but the first year-over-year increases in sales and revenues since the fall of 2008.
Then WHY AREN'T YOU BENEFITING, American?
Revenues are better than profits as a gauge of expansion because businesses can maintain profits by slashing costs and jobs, even when revenues and the broader economy are shrinking, analysts said....
PFFFFFFFTT!
Yeah, CHANGE the MEASUREMENT, you s***-slingers!!
Recent corporate earnings also illustrate why most economists expect a long, slow recovery, particularly when it comes to employment. Profits are growing much faster than revenues because companies are continuing to squeeze costs, hiring only reluctantly, and getting more production out of existing employees to meet increasing demand and sales....
Yup, the GOOD OLD AmeriKan SLAVE serving his master by OVERSEEING HIMSELF!
“At some point, they have to hire more workers,’’ said James Swanson, chief investment strategist at the Boston mutual fund firm MFS Investment Management. “But whether you’re running a chemical plant in New Jersey or a pizza place in Randolph, you’re not going to add to your payroll until you really need to.’’
Teradyne Inc., a North Reading maker of electronics testing equipment, recently reported that revenues soared by nearly 40 percent from the end of 2008 as the company enjoyed its most profitable quarter in more than a year. But after cutting 500 jobs worldwide, instituting pay cuts and furloughs, and slashing other costs when sales plunged in late 2008, Teradyne still isn’t planning any significant hiring as demand recovers.
“After a period of almost no investment, companies are starting to spend again on equipment,’’ said Teradyne spokesman Andy Blanchard. “But we’re really playing it tight on hiring. It’s so disruptive when you have to go through layoffs.’’
Yeah, IMAGINE how the guy GETTING the PINK SLIP (not profits) feels like!!!!
The ELITE INSULTS are QUITE ENOUGH also!!!!
Hiring will eventually follow as the economy and profits continue to expand, analysts said.
And if it DOES NOT?
And earnings reports indicate key sectors are gaining traction.
What did the end of that article above say?
In a good sign for Massachusetts, the technology sector is among them....
EMC Corp. of Hopkinton, for example, recently reported record fourth-quarter revenue as profits rose more than 50 percent from a year ago.
Is that from OVERCHARGING the TAXPAYERS, or.... ?
Related: Justice Dept. is looking into EMC's sales to government
Yeah, I believe they quietly settled.
EMC Executive Bites the Bullet
EMC Moving Out of Massachusetts
Pffft!
Meanwhile, executives at the data storage and software company said they expect corporate spending on information technology to grow by up to 5 percent this year....
Consumers are also beginning to spend more, according to a number of earnings reports. That’s good news for the economy, since consumer spending accounts for more than two-thirds of the nation’s economic activity.
Oh, I'm sick of this guy's BS!
Starbucks Corp. of Seattle, for example, recently reported that sales in the last three months of 2009 rose 4 percent from a year earlier as customers ran up bigger coffee shop bills. Coach Inc., maker of high-end accessories, said its sales jumped 11 percent.
Yeah, the RICH GUYS are doing JUST FINE!
Procter & Gamble Co., the Cincinnati-based consumer products company that owns Gillette Co., also reported better-than-expected sales and profit growth.
“We’re starting to see evidence of year-over-year revenue growth and getting beyond this cost-cutting situation,’’ said Brian Bethune, chief US financial economist at IHS Global Insight in Lexington.
And yet you are STILL WAITING and WAITING, America!!!
Also see: The Engine of Economic Destruction in Massachusetts
Massachusetts' Lost Decade of Jobs
Boston Globe Job Market
What a bulls***ter, huh?!!!!!!
