Obamanomics

[Chef Jim]

 

WTF? 620 to 680 is below average credit score. I'm guessing this will be accompanied by a collective Never Mind about 2008?

 

Yes but when you're pandering to the below average you do what you can to make them feel good.

[DC Tom]

 

WTF? 620 to 680 is below average credit score. I'm guessing this will be accompanied by a collective Never Mind about 2008?

 

2008 was because the banks made risky trades and stole money from the working class to pay for it. This time will be different, because the banks are more tightly regulated and can't take advantage of subprime borrowers. So those borrowers will be more able to pay back their mortgages, or the banks will be forced to take the losses when they don't.

 

Try to keep up with the narrative, please.

 

Yes but when you're pandering to the below average you do what you can to make them feel good.

 

Hmmm. We never tried THAT tactic with gatorman...

[B-Man]

First-quarter economy looks bleaker by the day

CNBC.com

Some economists now see first-quarter growth as negligible, and it could easily turn out to be negative.

 

Economists shaved already weak growth forecasts by a few more tenths Friday, after wholesale inventories fell 0.5 percent month over month in February, much more than the anticipated 0.1 percent decline. January was also revised down by 0.4 percent.

 

The closely watched Atlanta Fed GDPNow model now shows first-quarter growth tracking at 0.1 percent, compared to a 0.4 percent estimate earlier in the week.

 

JPMorgan economists now forecast the economy only expanded by 0.2 percent in the first quarter, from 0.7 percent.

 

 

 

 

Added: Don't worry...they'll NEVER let the numbers go down to negative, and risk having to use the "R" word in an election year.

 

 

.

Edited April 13, 2016 by B-Man

[B-Man]

THE WORD “UNEXPECTEDLY” MAKES ITS EXPECTED APPEARANCE IN THIS STORY:

 

Weak U.S. retail sales, inflation data reinforce Fed caution on rates.

 

U.S. retail sales unexpectedly fell in March as households cut back on purchases of automobiles and other items, further evidence that economic growth stumbled in the first quarter.

Other data on Wednesday showed a surprise drop in producer prices last month as rising energy prices were offset by a decline in the cost of services.

The two reports suggested the Federal Reserve will probably not raise interest rates until later this year.

“The data solidifies the well-entrenched narrative of a very weak first quarter for the U.S. economy. For the Federal Reserve … it argues for continued caution,” said Millan Mulraine, deputy chief economist at TD Securities in New York.

 

 

 

 

 

 

But maybe this is the year we finally get that Summer of Recovery.

[Tiberius]

THE WORD “UNEXPECTEDLY” MAKES ITS EXPECTED APPEARANCE IN THIS STORY:

 

Weak U.S. retail sales, inflation data reinforce Fed caution on rates.

 

U.S. retail sales unexpectedly fell in March as households cut back on purchases of automobiles and other items, further evidence that economic growth stumbled in the first quarter.

Other data on Wednesday showed a surprise drop in producer prices last month as rising energy prices were offset by a decline in the cost of services.

The two reports suggested the Federal Reserve will probably not raise interest rates until later this year.

“The data solidifies the well-entrenched narrative of a very weak first quarter for the U.S. economy. For the Federal Reserve … it argues for continued caution,” said Millan Mulraine, deputy chief economist at TD Securities in New York.

 

 

 

 

 

 

But maybe this is the year we finally get that Summer of Recovery.

Retail sales remain lackluster despite a strengthening labor market, which is starting to boost wages. Part of the weakness could be due to a stock market sell-off that hurt consumer sentiment early this year. The value of sales is also being restrained by low prices, as retailers offer huge discounts to clear unwanted merchandise clogging up warehouses.

Auto sales dropped 2.1 percent last month, the largest decrease in just over a year, after being unchanged in February. Households are buying fewer automobiles after record purchases last year.

 

[B-Man]

A TALE OF TWO REUTERS:

 

 

 

So which is it?

[IDBillzFan]

A TALE OF TWO REUTERS:

 

 

 

So which is it?

 

Reuters is what I imagine a news agency would look like if gatorman were the editor in chief.

Edited April 13, 2016 by LABillzFan

[Tiberius]

The number of Americans filing applications for unemployment benefits unexpectedly declined last week to match a more than 42-year low, indicating employers are upbeat about an economy that bogged down in the first quarter.

Jobless claims dropped by 13,000 to 253,000 in the week ended April 9, equaling the level in March that was the lowest since November 1973, a report from the Labor Department showed Thursday. The median forecast in a Bloomberg survey called for 270,000. Continuing claims also declined, to the lowest since mid-October.

http://www.bloomberg.com/news/articles/2016-04-14/u-s-jobless-claims-unexpectedly-fall-to-match-lowest-since-1973

 

[Chef Jim]

 

The number of Americans filing applications for unemployment benefits unexpectedly declined last week to match a more than 42-year low, indicating employers are upbeat about an economy that bogged down in the first quarter.

Jobless claims dropped by 13,000 to 253,000 in the week ended April 9, equaling the level in March that was the lowest since November 1973, a report from the Labor Department showed Thursday. The median forecast in a Bloomberg survey called for 270,000. Continuing claims also declined, to the lowest since mid-October.

http://www.bloomberg.com/news/articles/2016-04-14/u-s-jobless-claims-unexpectedly-fall-to-match-lowest-since-1973

 

 

 

Go Obama!

[keepthefaith]

 

Go Obama!

 

His greatest accomplishment was keeping our country from going into a depression in 2009. This low unemployment number is just icing on the cake. Had we elected McCain, the U.S. economy would still have not recovered.

[Chef Jim]

 

His greatest accomplishment was keeping our country from going into a depression in 2009. This low unemployment number is just icing on the cake. Had we elected McCain, the U.S. economy would still have not recovered.

 

Yes but we'd have $2.50 gas. Oh wait..............

[keepthefaith]

 

Yes but we'd have $2.50 gas. Oh wait..............

Yes, which has dems crying in their beer and wanting more tax revenue. Gotta fund those shovel ready jobs.

 

http://thehill.com/policy/transportation/258715-dem-rep-moves-to-increase-gas-tax-by-15-cents

[B-Man]

Sears to close 78 stores this summer

Published April 22, 2016

Associated Press

Sears Holdings Corp. will close another 78 stores —68 Kmart units, and 10 Sears stores — as it looks to restore profitability.

That accounts for about 5 percent of its store base, which is nearly 1,700 stores.

 

[/dev/null]

Sears to close 78 stores this summer

Published April 22, 2016

Associated Press

Sears Holdings Corp. will close another 78 stores —68 Kmart units, and 10 Sears stores — as it looks to restore profitability.

That accounts for about 5 percent of its store base, which is nearly 1,700 stores.

 

 

[/dev/null]

The economy is booming. The world is experiencing the Pax Obama. Relations with Russia have never been more stable. The Middle East has begun an Islamic Reformation. Race relations in America have never been stronger

 

http://techcrunch.com/2016/04/25/obama-spends-a-little-time-in-the-brave-new-world-of-virtual-reality/

 

Awww, it's just a prototype

[Deranged Rhino]

[B-Man]

Delusional AP Treats Awful Economic Report as ‘Rebound’

 

Today's stories at the business wires covering this morning's disastrous durable goods report from the Census Bureau ranged from good to absolutely horrid. March orders only increased by a seasonally adjusted 0.8 percent, less than half of the 1.7 percent to 2.0 percent increase that was expected.

 

Additionally, February's originally reported decline of 2.8 percent was revised down to -3.1 percent.

 

Victoria Stilwell's dispatch at Bloomberg News earned a B-minus. Lucia Mutikani's writeup at Reuters rated a C-minus. As usual, the coverage at the Associated Press, aka the Administration's Press, delivered by Martin Crutsinger, the nation's unofficial "Worst Economics Writer," brought up the rear and earned an "F."

 

As usual, the AP's focus was on delivering a headline and opening paragraph sufficiently deceptive to lull those who won't click past the teases on their computers, smartphones and tablets into believing that things aren't all that bad. This time, it was accompanied by bad headline grammar:

 

 

 

.

 

The misleading headline and lede also represent what is usually read over the airwaves in TV and radio broadcasts.

 

 

It's reasonable to believe that the AP and Crutsinger were bound and determined to headline a "rebound" no matter how weak the result, as long as it was positive.

 

Crutsinger saved revealing that the details were really horrible for Paragraphs 2 through 7:

 

More at the link: http://newsbusters.org/blogs/nb/tom-blumer/2016/04/26/ap-awful-durables-goods-news-treated-rebound

 

 

 

 

 

 

IBM Layoff Epidemic Spreads Worldwide.

 

Summer of Recovery Seven ??

Edited April 26, 2016 by B-Man

[DC Tom]

Delusional AP Treats Awful Economic Report as ‘Rebound’

 

Today's stories at the business wires covering this morning's disastrous durable goods report from the Census Bureau ranged from good to absolutely horrid. March orders only increased by a seasonally adjusted 0.8 percent, less than half of the 1.7 percent to 2.0 percent increase that was expected.

 

Additionally, February's originally reported decline of 2.8 percent was revised down to -3.1 percent.

 

Victoria Stilwell's dispatch at Bloomberg News earned a B-minus. Lucia Mutikani's writeup at Reuters rated a C-minus. As usual, the coverage at the Associated Press, aka the Administration's Press, delivered by Martin Crutsinger, the nation's unofficial "Worst Economics Writer," brought up the rear and earned an "F."

 

As usual, the AP's focus was on delivering a headline and opening paragraph sufficiently deceptive to lull those who won't click past the teases on their computers, smartphones and tablets into believing that things aren't all that bad. This time, it was accompanied by bad headline grammar:

 

 

 

.

 

The misleading headline and lede also represent what is usually read over the airwaves in TV and radio broadcasts.

 

 

It's reasonable to believe that the AP and Crutsinger were bound and determined to headline a "rebound" no matter how weak the result, as long as it was positive.

 

Crutsinger saved revealing that the details were really horrible for Paragraphs 2 through 7:

 

More at the link: http://newsbusters.org/blogs/nb/tom-blumer/2016/04/26/ap-awful-durables-goods-news-treated-rebound

 

 

 

 

 

 

IBM Layoff Epidemic Spreads Worldwide.

 

Summer of Recovery Seven ??

 

From a -3.1% drop? It's a weak number, but a strong rebound.

[jr1]

ESPN has turned into a tent city

[GG]

 

From a -3.1% drop? It's a weak number, but a strong rebound.

 

Not if the consensus was 1.7%-2.0% growth for the period.