For some, job loss leads to fulfillment
When it is the Globe and their employees tell me how great it is.
Genes hold clues on who may live long and prosper
What, do you think we are stoo-pid, Glob?
Deflating credentials to land a job
Yeah, I guess they do.
So what do you suggest I do, Glob?
Financiers saw precious opportunity
Well, I would if I had any.
Anxiety fuels a frenetic sell-off
Tired of fluctuations, many are shedding stocks
That's the first smart thing they have said.
"Weak gain in spending adds to stimulus debate; May figure up only 0.2% over previous month" by Christopher S. Rugaber, Associated Press | June 29, 2010
WASHINGTON — A tepid gain in consumer spending last month could fuel a debate over whether the United States and other governments should further stimulate their economies to sustain the recovery.
As if we had one.
A report that Americans spent cautiously in May came after world leaders meeting in Toronto over the weekend pledged to reduce government deficits by cutting spending and raising taxes.
They did so despite warnings from President Obama that scaling back spending too fast could derail the global recovery.
US lawmakers are wary of approving more stimulus spending in light of record-high budget deficits. As a result, millions of Americans could lose unemployment benefits and states could be forced to lay off tens of thousands of workers....
Did, are.
Zach Pandl, an economist at Nomura Securities, said economic growth, which leads to higher tax receipts and less spending on social programs, is the best way to reduce the deficit....
Then WE HAVE NOT BEEN GROWING at all!!
One thing is certain: Americans are being careful with their money....
Do I need that Globe?
If consumption remains sluggish, the economy may not grow fast enough to generate jobs....
Yeah, blame the out-of-work, out-of-home American.
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Related: AmeriKan Economic Momentum Broken in May
Is a crawl backward momentum?
I get the feeling the numbers were censused, 'er, censured, don't you?
"Census work coming to end; Layoffs may skew jobless report" by Christopher S. Rugaber, Associated Press | July 1, 2010
WASHINGTON — For the first time in six months, the federal unemployment report to be released tomorrow will likely show a net loss of jobs.
But hold off on the panic button.
What is that, some type of MSM yo-yo?
It is true that employers are expected to have cut more than 100,000 jobs in June. But that figure, if accurate, will be deceptive.
The newspaper is a fine one to talk about deception.
It will reflect the end of up to 250,000 temporary census jobs. The real focus tomorrow will be on how many net jobs private employers created.
“People are looking past the census effect,’’ said Alec Phillips, an economist at Goldman Sachs.
Now I know where the deceit came from.
Analysts predict private businesses added 112,000 jobs in June, according to a survey by Thomson Reuters....
Where can I place the bet against.
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"Census jobs end; employment falls; Jobless rate lower as thousands stop looking for work" by Hiawatha Bray, Globe Staff | July 3, 2010
Driven by the loss of 225,000 temporary census jobs in June, the nation’s employment fell for the first time in six months, a sign that the economy is still struggling to find its footing....
652,000 unemployed workers stopped looking for work in June, effectively dropping out of the workforce....
Welcome to the club. Sponging off relatives suck.
To Thomas Kochan, professor of work and employment research at MIT Sloan School of Management, the report paints a bleaker picture. “It’s really, really disappointing,’’ he said. “These are troubling, troubling numbers for an economy that’s supposed to be in recovery. . . . .’’
"Supposed to be" is the key phrase there.
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Yup, the lies never last because they are like a house of cards:
WASHINGTON — Fears that economic recovery is fizzling grew yesterday after the government and private sector issued weak reports on a number of fronts.
What recovery? The lie the government and newspapers told?
Unemployment claims are up, home sales are plunging without government incentives, and manufacturing growth is slowing.
What growth?
Meanwhile, 1.3 million people are without federal jobless benefits now that Congress adjourned for a weeklong Independence Day recess without passing an extension.
All of this worries economists. As jobless claims grow and benefits shrink, Americans have less money to spend, and the economy cannot grow fast enough to create new jobs.
Back to the insults I see.
Some economists are revising their forecasts for growth in the third quarter. Others are afraid the country is on the verge of falling back into a recession.
We NEVER CAME OUT OF IT!
You were LIED TO, America!!
“We find the level and direction in jobless claims somewhat troubling, and the increase is likely to feed double-dip fears,’’ said John Ryding, an economist at RDQ Economics, in a note to clients.
New claims for benefits jumped by 13,000 to a seasonally adjusted 472,000, the Labor Department said yesterday. The four-week average, which smooths fluctuations, rose to 466,500, its highest level since March.
Claims have remained stuck above 450,000 since the beginning of the year. Requests for unemployment benefits dropped steadily last year after reaching a peak of 651,000 in March 2009. Economists say they will feel more confident about sustained job growth when initial claims fall below 425,000.
The housing market is also weighing on the economy....
And here the Globe spent months telling us how much better it was getting.
Surveys released yesterday in China showed a slowdown in factories’ growth as exports faltered. Analysts worry that cutbacks in government lending will cool the economy’s rapid rise. Reports from Markit Economics also indicated that manufacturing sector growth in India, South Korea, Australia, and Taiwan was slowing....
--more--"Hey, don't let that stop the liars:
"Fed officials mum on stimulus" by Bloomberg News | July 2, 2010
WASHINGTON — Two days ago, Fed chairman Ben S. Bernanke met with President Obama. Afterward, Obama said the US economy is strengthening even as it faces “headwinds’’ from the European debt crisis and that Bernanke shares his view that the economy is growing stronger.
Is anyone listening to them anymore?
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Back to work! Or not...
"Despite forecast, expansion slows in service sector; More evidence economy cooling entering 2d half" by Shobhana Chandra, Bloomberg Business | July 7, 2010
WASHINGTON — Service industries in the United States expanded in June at a slower pace than forecast, indicating the economy is beginning to cool entering the second half....
I didn't know it reached lukewarm.
Companies such as Bed Bath & Beyond Inc. may find it harder to boost sales without faster job growth as government stimulus wanes. Private hiring last month rose less than forecast, consumer confidence plunged, and home purchases fell, indicating the recovery from the worst recession since the 1930s is vulnerable....
Stocks gained....
Oh, well, then why worry?
And where do you go at the end of the work day?
"Mortgage rates sink to new low; So far, drop fails to trigger boom" by Alan Zibel, Associated Press | June 25, 2010
WASHINGTON — The falling rates have yet to spark a home-buying boom — or energize the economy. Sales of new homes collapsed in May after home-buyer tax credits expired. The economy also remains under pressure from high unemployment. And many people don’t qualify for mortgages under tightened lending rules.
“As long as prospective homebuyers are still concerned about their jobs and financial well-being, many will be reluctant to take the plunge, even though affordability has never been better,’’ said Greg McBride, senior financial analyst with Bankrate.com.
Low rates throughout the economy also hurt one group of Americans: savers. Puny rates are especially hard on people living on fixed incomes who are earning next to nothing on their savings.
Lending activity remains sluggish. Mortgage application volume dipped 6 percent last week from a week earlier, according to the Mortgage Bankers Association. Refinancing activity fell 7 percent. And mortgage applications to buy homes slipped 1.2 percent.
Many Americans owe more on their mortgages than their homes are worth — often called “under water’’ — and can’t refinance.
The Obama administration has launched programs to help borrowers refinance if they owe up to 25 percent more than their home’s value and have loans owned or guaranteed by mortgage giants Freddie Mac or Fannie Mae.That's you, taxpayers.
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So where is your bailout?
