White House: "We are not anti-business"

[Joe Miner]

Sarcasm, man. Just pointing out how the right wing agenda has its very anti-business side. We had a Mexican restaurant here that everyone loved, except that they had some Mexicans working there. The local Tea Party scum flooded the immigration police with calls and the place was raided every other week and now they are closed down. Anti-immigration is anti-business.

 

Oh, now I get it.

 

You don't understand what anyone here is talking about.

 

I guess my confusion in reading your posts was due to my asinine assumption that you were not a complete moron.

[IDBillzFan]

Anti-immigration is anti-business.

And there's your problem, Skippy. You can't even be bothered to understand the difference between being anti-immigration and being anti-ILLEGAL immigration.

 

You probably hate assault rifles, too, eh?

[Jim in Anchorage]

Sarcasm, man. Just pointing out how the right wing agenda has its very anti-business side. We had a Mexican restaurant here that everyone loved, except that they had some Mexicans working there. The local Tea Party scum flooded the immigration police with calls and the place was raided every other week and now they are closed down. Anti-immigration is anti-business.

Thats great,Conner is in serious trouble as the most imbecile poster here. Good idea- the police should ignore the law so you can have a taco.

Wonder if this Mexican restaurant treated safe food handling laws with the same respect they had for immigration law.

[Chef Jim]

Heads I win tails you lose? So if economy is bad its because Obama is anti-business, but when things are good don't look at the Prez.

 

What effects are you talking about Darin? Some nebulous far off danger we should all be afraid of? You should work for Fox News you scare monger you. Boo!

 

Leftistlation? Oh cute. Libertarians with humor, now that is funny.

 

So Apple having record profits is an indication that things are good? Excellent.

[IDBillzFan]

So Apple having record profits is an indication that things are good? Excellent.

You have to believe the residents of Schenzen are pretty stoked!

[Dave_In_Norfolk]

Stocks rebounded Thursday after new corporate results gave investors a reason to be optimistic about the economy, even as a weekly report showed that jobless claims have risen.

 

Also Thursday, blue chip companies continued to show strong results for the second quarter. Caterpillar, 3M, AT&T and United Parcel Service posted results that exceeded forecasts and gave stronger outlooks, noted Alan Gayle, senior investment strategist for RidgeWorth Capital Management.

 

“It is a pretty strong market,” said Mr. Gayle. “It is all about economic and earnings momentum. If yesterday was news of caution, today is news of growth and recovery.”

 

Obama is killing this economy! The excrement eaters will have to find something else to complain about soon.

[Dave_In_Norfolk]

And there's your problem, Skippy. You can't even be bothered to understand the difference between being anti-immigration and being anti-ILLEGAL immigration.

 

You probably hate assault rifles, too, eh?

The sad thing is that no one on this board will point out the obvious stupidity of this point. A ship of fools

[DC Tom]

The sad thing is that no one on this board will point out the obvious stupidity of this point. A ship of fools

 

Yes, the distinction between "people who break the law" and "people who don't break the law" is terribly stupid.

[IDBillzFan]

The sad thing is that no one on this board will point out the obvious stupidity of this point. A ship of fools

Please explain to me where the stupidity is in my point.

[erynthered]

Yes, the distinction between "people who break the law" and "people who don't break the law" is terribly stupid.

 

 

[Magox]

Obama is killing this economy! The excrement eaters will have to find something else to complain about soon.

Oh you mean like things that really matter like:

 

Home Sales?

 

Sales of U.S. previously owned homes fell in June for a second month, adding to evidence the market will slump as the effects of a federal tax credit fade.

 

Or what about economic leading indicators?

 

A gauge of future economic activity dropped in June, the second decline in past 3 months, suggesting the economic recovery will weaken.

 

How about on the jobs front?

 

The number of Americans filing jobless claims jumped higher than expected last week, underscoring worries about the economic recovery in the second half of the year.

 

The Labor Department said initial claims for unemployment benefits, which reflect firings by businesses, rose by 37,000 to 464,000 in the week ending on July 17. Economists surveyed by Bloomberg projected that claims would only hit 445,000 while those surveyed by Dow Jones had expected 448,000.

 

Many analysts had expected the jobless claim numbers to reverse declines earlier in the summer because of seasonal issues such as factories shutting down for maintenance. But last week's increase shows that there may be more challenges to the labor market.

 

Historically, jobless claims fall as jobs grow but in recent months that hasn't been the case as some companies have reduced staff while others have expanded in an uneven recovery.

 

New Jersey-based Johnson & Johnson, for instance, said in July it would cut 300 positions from a factory where children's medicines were made. But other companies such as Apple, which last week announced that its profits hit a record high thanks to the successful rollout of its iPad and iPhone mobile devices, are adding to their payrolls.

 

And that's just today's numbers.

 

Btw, I predicted all THREE of these things to occur in the "What to expect in the second half of the year" thread.

[Chef Jim]

Obama is killing this economy! The excrement eaters will have to find something else to complain about soon.

 

There is one very interesting and telling word in what you quoted. That word? Thursday.

[Alaska Darin]

Heads I win tails you lose? So if economy is bad its because Obama is anti-business, but when things are good don't look at the Prez.

You're a complete idiot. While the current administration is nothing but an exercise in buffoonery, the alternative isn't any different. The Executive is a tiny problem compared to the corruption and stupidity that has infected Congress for half a century plus.

What effects are you talking about Darin? Some nebulous far off danger we should all be afraid of? You should work for Fox News you scare monger you. Boo!

There's nothing nebulous about what's going to happen in America over the next 2 decades. We're well on our way to losing our status as an economic super power and you and your ilk are too busy stupidly taking credit for inevitable private company successes and worshipping a failed political ideology to realize it.

Leftistlation? Oh cute. Libertarians with humor, now that is funny.

Too bad it's not humor.

[OCinBuffalo]

Get a clue, man. He's been aggressively pushing his agenda, passed a lot of significant legislation, spent unprecedented sums of "stimulus" money and everythings going from bad to worse and the outlook on the horizon is grim too.

 

Is there any point at which the evidence becomes so overwhelming that you have the humility to objectively question your political/economic theory?

Nope.

 

Reason? Please. Basing their opinions on the formal knowledge of the material? Ridiculous. They are psychologically and emotionally committed to the idea that government control/spending/picking winners is the only way to stimulate the economy.

 

As this is proven wrong, again, as it has been so many times, they face having to do a lot of introspection. But, that is a word that is completely foreign to them. Rather than asking themselves why what they believe consistently fails, and how to improve it, they will simply hitch their wagon to the next straw that they can grasp.

 

The problem is: that tactic is, for the first time, starting to fail. This is directly due to the new media. The "next straw" is being exposed as a fraud on some dude's website 15 minutes after they grasp it.

[OCinBuffalo]

Oh, now I get it.

 

You don't understand what anyone here is talking about.

 

I guess my confusion in reading your posts was due to my asinine assumption that you were not a complete moron.

Perhaps you missed it? I posted a thread with quantifiable evidence that the further to the left you are, the less likely you are to know basic economics. Paul Krugman only proves that the further to the left you are, the more likely you are to deny basic economics.

 

Incidentally, that thread did not include anything regarding the ability to calculate %s properly, or other 4th grade math skills, but I imagine a similar study would probably produce congruent results.

 

Perhaps we should write Coach Gailey a letter reminding him that if he has to get to 5 wins before he can get to 10?

[OCinBuffalo]

Oh you mean like things that really matter like:

 

Home Sales?

Or what about economic leading indicators?

How about on the jobs front?

And that's just today's numbers.

 

Btw, I predicted all THREE of these things to occur in the "What to expect in the second half of the year" thread.

Or how about the fact that you basically stated that it is your job to have a complete handle on these things, every day, all the time, as you demonstrate here....

 

.....and the "amateur"(I am being as nice as I can be with that) is arguing with the professional?

 

We are back to the same thing: the informed opinion vs. the ignorant opinion. Results vs. wishes. The Varsity vs. the JV.

[Magox]

That was a good read, and thank you.

 

 

 

Part of my job is to provide macro forecastes for my clients. This is something that will weigh into those projections which I hadn't calculated earlier.

 

Considering the retail "recovery" was largely due to the most affluent (which this partially confirms according to the Federal Reserve's data), and there is a very good chance that stocks will be rangebound for quite some time and the possibility of the expiration of the Bush Tax cuts, this will certainly serve as a drag on the US economy.

 

The Fed is forecasting %3 GDP growth for the year, I would put that number closer to 2%. Consumers and markets usually move in anticipation of things to come. There is alot of uncertainty out there, if the private sector doesn't start producing at least 150,000 jobs a month on a consistent basis sometime within the next 6 months, then first half of 2011 is going to look awfully bleak and I wouldn't be surprised to see the market leg down.

 

It's all about the jobs baby.

Let's see,

 

David ignorantly laughed at the idea of my GDP forecast for the year of 2%.

 

Excluding Census jobs, we've hired 50,000 people over the last two months... Last quarters GDP figures came in at 2.4%, which is now the third straight quarter of lower trending GDP figures. Even the departing Christina Romer recently stated

“We need 2.5 percent growth just to keep the unemployment rate where it is. If you want to get it down quickly, you need substantially stronger growth than that. That’s what I’ve been saying for the last several quarters, and that’s why I’ve been hoping that we’ll please pass the jobs measures just sitting on the floor of Congress.”

Considering the last two abysmal jobs reports, and the weekly claims jobs of 479,000 yesterday (which is the best leading indicator for jobs), I would have to say my forecast 3 weeks ago regarding the GDP figures will be ahead of the curve from what most analysts were forecasting...

 

 

Today, Goldman Sachs reaffirmed my forecast

 

Goldman Sachs has cut GDP forecasts for 2011 to 1.9% from 2.4%, via CNBC.

 

If I can see this, why couldn't the vast majority of hedge fund managers, the White Houses team of economic "experts" and even the Federal Reserve who all have much more access to live economic data foresee this?

[Nanker]

Let's see,

 

David ignorantly laughed at the idea of my GDP forecast for the year of 2%.

 

Excluding Census jobs, we've hired 50,000 people over the last two months... Last quarters GDP figures came in at 2.4%, which is now the third straight quarter of lower trending GDP figures. Even the departing Christina Romer recently stated Considering the last two abysmal jobs reports, and the weekly claims jobs of 479,000 yesterday (which is the best leading indicator for jobs), I would have to say my forecast 3 weeks ago regarding the GDP figures will be ahead of the curve from what most analysts were forecasting...

 

If I can see this, why couldn't the vast majority of hedge fund managers, the White Houses team of economic "experts" and even the Federal Reserve who all have much more access to live economic data foresee this?

 

They can, and do. They just are in denial and will not publicly admit it because to do so would be an expression tantamount to, "The Emperor has no clothes!"