"Industrial production continues its rise; Increase in December was the largest jump for sector in five months" by Jeannine Aversa, Associated Press / January 15, 2011
WASHINGTON — Industrial production rose in December by the largest amount in five months, providing the economy with solid momentum heading into the new year.
Activity at the nation’s factories, mines, and utilities increased 0.8 percent last month, the Federal Reserve said yesterday. Industrial production was up in every month but one in 2010....
And yet FORECLOSURES are STILL SOARING and there are NO JOBS, etc, etc, etc.
Factory production, the biggest slice of industrial output, rose 0.4 percent, the sixth straight monthly increase. Makers of computers and electronic products, clothing and leather, chemicals, and other products were among the industries seeing gains. But auto production dipped.
Related: Revved up auto sales spark optimism
I'm sick of the mixed messages, sorry.
“Manufacturing looks like it is doing its job and moving the economy ahead,’’ said John Silvia, chief economist at Wells Fargo.
Other economic reports showed:
Retail sales rose for a sixth consecutive month in December, the Commerce Department said. Sales are 13.5 percent above the recession low hit in December 2008.
Consumer prices rose 0.5 percent last month, the largest increase in 18 months and a reflection of rising gas prices, the Labor Department said. But outside of energy costs, there was little sign of widespread inflation. Core inflation, which strips out volatile energy and food, was up 0.1 percent in December.
Related: Higher Food, Fuel Prices Could Squeeze Consumers
Sick of the lies, yet?
Of course, prices are rising because the DOLLAR is worth less thanks to the Fed printing money to cover the mortgage-securities scandle.
US businesses added to their inventories for an 11th consecutive month in November as sales posted another strong increase, Commerce said.
Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, said in a speech yesterday that recent economic activity suggests the economic recovery is through its soft patch. He said he expects stronger growth this year, between 3.5 percent and 4 percent.
Rising factory production has played a crucial role in helping the economy.
Factories started producing more as US companies placed more orders to replenish stockpiles. Then in the final months of 2010, consumers and businesses showed a bigger appetite to spend, encouraged in part by the improving economy.
A recovering global economy also is helping. Sales of US exports to foreign countries has been a key force supporting US economic growth.
This is all such s*** it makes one sick.
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I've come to learn that just because the government and media say it doesn't make it true.
"US in final chapters of AIG rescue; Treasury to start selling its shares in March; billions in profit are likely" by Pallavi Gogoi, Associated Press / January 15, 2011
NEW YORK — The government will wind down its largest and most complex rescue from the 2008 financial crisis, a $182 billion package to save insurer AIG, by selling stock over the next two years. The plan could net taxpayers billions in profits....
They really think you will believe anything, dear readers.
Yeah, AIG insured all the mortgage securities and had to pay off when the whole market crashed.
Related: Money Monday: Goldman Sachs' Gold Mine
Also see: Slow Saturday Special: Massachusetts Court Rejects Foreclosure Fraud
Yeah, somehow you are making a profit off s***, taxpayers.
As the government unloads its shares, taxpayers would clear about $40 billion profit.
“We will work to make sure that the US taxpayer will get back all of its money with a healthy profit,’’ AIG CEO Robert Benmosche said.
Related: Slow Saturday Special: Boston Globe a Banker's Paper
It sure as hell is!
Treasury Secretary Timothy Geithner said that the government “remains optimistic that taxpayers will get back every dollar of their investment in AIG.’’
The government came to the rescue of AIG in September 2008, at the depths of the financial meltdown. AIG did business with hundreds of firms around the world, and officials feared its collapse would wreck the financial system.
AIG became a symbol for excessive risk on Wall Street and a touchstone of public anger.
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Maybe that's why AmeriKa's newspaper industry is failing.
