Good Economic Data Summary..

Discussion in 'Politics & Current Events' started by Karl K, Jul 12, 2005.

  1. Karl K

    Karl K Member

    Oct 25, 1999
    Suburban Chicago
    Amidst all the heavy breathing over Karl Rove and other items, a brief summary of good economic data, gleaned from various sources:
    • The federal deficit is shrinking. It's down by at least $100 billion because federal tax receipts have skyrocketed this year by 14.6% (or $204 billion) through June. Corporate tax receipts are up over 40%. Private economic forecasters now believe the budget deficit may come in at about 2.5% of GDP, which is in line with the historical average for the past 40 years.
    • The Labor Department said this past Friday that the U.S. jobless rate fell to 5% in June, the lowest since 2001.
    • The annual average for monthly increases in non-farm payrolls continues to hover around +200,000.
    • Over the course of June, the weekly volume of initial jobless claims shrank by about 40,000
    • The growth of higher-paying hourly jobs is outpacing that of lower-paying jobs for the first time in nearly four years, according to an analysis of Labor Department data by the Economic Policy Institute.
    • A good stock market recovery, especially in 2003 and 2004, with shareholder wealth rebounding by roughly $2 trillion since the market collapse that began in 2000.
    • Month over month Factory orders were up 2.9% in May. And long term trends in factory orders continue to look good...and the year over year changes reported monthly remain in the +5% to +15% range.
     
  2. MtMike

    MtMike Member+

    Nov 18, 1999
    the 417
    Club:
    Sporting Kansas City
    Nat'l Team:
    United States
    And, I believe since September, 2001.
     
  3. Karl K

    Karl K Member

    Oct 25, 1999
    Suburban Chicago
    Yes, correct.

    But who cares, when all we want to see is Karl Rove in handcuffs being escorted out of the White House?
     
  4. MtMike

    MtMike Member+

    Nov 18, 1999
    the 417
    Club:
    Sporting Kansas City
    Nat'l Team:
    United States
    But not Sandy Berger in handcuffs a while there back.
     
  5. Dolemite

    Dolemite Member+

    Apr 2, 2001
    East Bay, Ca

    so as long as the economy is doing well, we should put our heads in the sand???? where were all these conservatives during clinton's second term????
     
  6. Dan Loney

    Dan Loney BigSoccer Supporter

    Mar 10, 2000
    Cincilluminati
    Club:
    Los Angeles Sol
    Nat'l Team:
    Philippines
    Nothing like increased federal spending to spur a recovery. If only it wasn't a war, there might have been actual jobs included.
     
  7. Karl K

    Karl K Member

    Oct 25, 1999
    Suburban Chicago
    But wait...isn't deficit spending a Keynesian, liberal kinda thing?

    Meanwhile, we've added on average each month 200K non-farm payroll jobs over the last 10 quarters.

    You know, ACTUAL jobs.

    So, yeah, you should go back to pimping. Shoo shoo.
     
  8. Jacques Strappe

    Mar 24, 2005
    Atlanta, GA
    Nat'l Team:
    United States
    Don't worry. That retard probably didn't get past the title of the thread before puking up that post.
     
  9. TeamUSA

    TeamUSA Member

    Nov 24, 1999
    Tianjin, China
    Club:
    Borussia Mönchengladbach
    Nat'l Team:
    United States
    Yep new jobs added, a new McDonalds, Starbucks, and 7-11 opened up paying minimum wage jobs for part timers during the week and on weekends. Super economic data. Damn, even the contractor who employed illegals to build each of those buildings paid crap wages. But what the hey as Mr Rourke always said on Fantasy Island, "smiles everyone....smiles".

    Karl, it appears you were the only tool in this thread breathing hard about another guy named Karl.
     
  10. BenReilly

    BenReilly New Member

    Apr 8, 2002
    Mario Mendoza went 2-4, pulling his average up to .217
     
  11. verybdog

    verybdog New Member

    Jun 29, 2001
    Houyhnhnms
    I wonder how many people here feel the economy is good.

    I think the banks and credit card companies should feel the economy is good. That's for sure.
     
  12. Ian McCracken

    Ian McCracken Member

    May 28, 1999
    USA
    Club:
    SS Lazio Roma
    Nat'l Team:
    Italy
    I feel the economy is good.
     
  13. Northcal19

    Northcal19 New Member

    Feb 18, 2000
    Celtic Tavern LODO (
    Yes, correct. Because of an unforeseen (gee, I wonder why it wasn't forecast) spike in tax revenue from quarterly payments the annual defecit will ONLY be $350 Billion. For 'conservatives' these days, that's practically balancing the budget.

    And ask VFISH if there is any off budget spending going on, like say, I dunno, maybe the war in Iraq?

    You guys are really morons. Oh, and yes, correct. I think White House employees who out CIA agents to settle political scores and then lie about it, should be in handcuffs. I guess that makes me a 'moonbat'. Y'all really do need to get a clue.
     
  14. Roel

    Roel Member

    Jan 15, 2000
    Santa Cruz mountains
    Club:
    Liverpool FC
    Nat'l Team:
    Netherlands
    The economy is doing OK. There are some things to be concerned about (current account deficits, federal spending, oil > $60) but I know that I'm too busy working to post here during business hours.

    Karl Rove should be in fired. But then, so should that "disinformational" Bush.
     
  15. MattR

    MattR Member+

    Jun 14, 2003
    Reston
    Club:
    DC United
    Nat'l Team:
    United States
    The economy is doing 'okay,' but it is not sustainable.

    Refinancing home loans has put an extra $300 billion a year in consumers' pockets in recent years. 20% of the money consumers have spent during the last 5 years have been from home refinancing, sincle home values have goine up 50% in these 5 years due to easy money and predetory lending (O down, 2% interest-only ARM) (1)

    Government spending is out of control. 200k employees for DHS alone. 65 Billion for DHS and Military Contracting. We all know about the trade and cash deficits.

    Americans do not save money. Americans do not live within their means. This entire 'recovery' is based on the idea that Americans continue to spend money that they have 'borrowed' on assets that have artificially inflated through poor fiscal policies. Eventually, this house of cards will fall.

    1) http://money.cnn.com/2005/04/07/news/economy/debt_consumers/
    2) http://www.usatoday.com/money/industries/technology/2005-02-27-gov-tech-usat_x.htm
     
  16. servotron

    servotron New Member

    Mar 4, 2004
    St Paul, MN
    Good post MattR. I'm proud to say I'm not playing an active part in this economy of overborrowing.
     
  17. Roel

    Roel Member

    Jan 15, 2000
    Santa Cruz mountains
    Club:
    Liverpool FC
    Nat'l Team:
    Netherlands
    And oil companies, too. Man, they are raking it in. I know I got my share of that from stock appreciation. But when is the middle class going to get pissed? The wrong people (or more accurately, corporate entities) are making money.
     
  18. art

    art Member

    Jul 2, 2000
    Portland OR
    Nat'l Team:
    United States
    ...jobs where you must be familiar with the phrase "would you like to biggie size that".
     

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