The results of Obamanomics

[CARLHAYDEN]

Americans spend at weakest pace in 20 months

Americans hold back on spending in May for the second straight month, gas prices a factor

WASHINGTON (AP) -- Americans spent in May at the weakest pace in 20 months, a sign that high gas prices and unemployment are holding back the economy.

Consumer spending was unchanged, the Commerce Department said Monday. That was the worst result since September 2009. And when adjusted for inflation, spending actually dropped 0.1 percent
http://finance.yahoo.com/news/Americans-spend-at-weakest-apf-2606213682.html?x=0&.v=5

[CARLHAYDEN]

Carterism 2.0. Stagflation and malaise is upon most of us.

Truly spoken as someone who obviously never lived throught stagflation.

highest inflation under Obama 3.6%.
highest inflation under GW Bush 4.1%.
highest inflation in 1970s 13.3%.

You make the mistake of focusing on  size rather than ratio,

Although the rate of inflation presently is low relative to that under Carter (curiously, you omit his name in the list above), the rate of growth is also lower.

The key is where the rate of growth is less than the rate of inflation there is NO real growth, and hence 'stagflation.'

[CARLHAYDEN]

Published: Wednesday, 16 Mar 2011

Reuters

Wholesale prices rise 1.6 pct. due to biggest jump in food costs in more than 36 years

ROTFLMAO!

You really need to learn something about the volatility in commodity prices.

http://web.mit.edu/rpindyck/www/Papers/Volatility_Comm_Price.pdf


June 30, 2011 7:41 pm

Financial Times

Corn futures have suffered their steepest fall in 15 years after record prices prompted US farmers to defy wet spring weather to plant a sharply increased acreage of the grain.

Looks like "Obamanomics" is working

[CARLHAYDEN]

Wind-Turbine Maker That Obama Praised Files for Bankruptcy

By Josh Cable

July 1, 2011

Cardinal Fastener & Specialty Co., a Cleveland-based manufacturer of screws and bolts for wind turbines, filed for Chapter 11 bankruptcy protection Thursday.

http://www.industryweek.com/articles/wind-turbine_maker_that_obama_praised_files_for_bankruptcy_25001.aspx?SectionID=3

[CARLHAYDEN]

Jobless claims rise above expectations

WASHINGTON | Thu Jul 21, 2011 8:45am EDT

WASHINGTON (Reuters) - New claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, pointing to a labor market that is struggling to regain momentum after job growth faltered in the last two months.

http://www.reuters.com/article/2011/07/21/us-usa-economy-idUSTRE7662I420110721

[CARLHAYDEN]

July 27, 2011, 8:44 a.m. EDT

U.S. durable-goods orders fall 2.1% in June

By Greg Robb, MarketWatch

WASHINGTON (MarketWatch) — Weaker orders for airplanes and automobiles translated into a steeper-than-forecast 2.1% decline in durable-goods orders in June, the Commerce Department estimated Wednesday.

http://www.marketwatch.com/story/us-durable-goods-orders-fall-21-in-june-2011-07-27

[CARLHAYDEN]

Economy Grows at Sluggish 1.3%; Consumers Pull Back

Published: Friday, 29 Jul 2011 | 8:38 AM ET

By: Reuters

The U.S. economy grew less than expected in the second quarter as consumer spending barely rose, and growth braked sharply in the prior quarter, a government report showed on Friday

http://www.cnbc.com/id/43941459

[CARLHAYDEN]

GDP Report Shatters Illusion of Jobless, Productivity-Packed Recovery

By Derek Thompson

Jul 29 2011

Great charts at The Atlantic.

http://www.theatlantic.com/business/archive/2011/07/gdp-report-shatters-illusion-of-jobless-productivity-packed-recovery/242761/

[CARLHAYDEN]

August 15, 2011

Moody’s Lowers Economic Growth Outlook

By Tess Stynes

Moody’s Analytics, a sister company to credit-ratings company Moody’s Investors Service, now expects real gross domestic product to increase at an annualized rate of about 2% in the second half of this year and just over 3% next year, compared with its estimate a month ago for growth of 3.5% for the second half of this year and through 2012.

http://blogs.wsj.com/economics/2011/08/15/moodys-lowers-economic-growth-outlook/

[CARLHAYDEN]

Waiting for jobless claims report.

The so-called experts are projecting between 395,000 and 400,000, but I suspect that it will be somewhere in the neighborhood of 408,000 (which may be subsequently revised upward).

[CARLHAYDEN]

Waiting for jobless claims report.

The so-called experts are projecting between 395,000 and 400,000, but I suspect that it will be somewhere in the neighborhood of 408,000 (which may be subsequently revised upward).

Jobless Claims in U.S. Top Forecast

By Shobhana Chandra - Aug 18, 201

“Jobless claims climbed by 9,000 to 408,000 in the week ended Aug. 13, the highest in a month, Labor Department figures showed today in Washington.”

http://www.bloomberg.com/news/2011-08-18/first-time-unemployment-claims-in-u-s-rise-more-than-estimated-to-408-000.html

[CARLHAYDEN]

For “unexpected” news on the Consumer (and Wholesale) Price Indexes:

http://www.reuters.com/article/2011/08/18/us-usa-economy-idUSTRE77A2BR20110818

[CARLHAYDEN]

Waiting for jobless claims report.

The so-called experts are projecting between 395,000 and 400,000, but I suspect that it will be somewhere in the neighborhood of 408,000 (which may be subsequently revised upward).

Aug. 25, 2011, 8:57 a.m. EDT

Jobless claims in U.S. rise to 417,000

Verizon strike inflates applications for unemployment compensation
By Jeffry Bartash, MarketWatch

WASHINGTON (MarketWatch) — The number of Americans seeking new jobless benefits rose for the second week in a row as thousands of phone workers at Verizon Communications filed claims, government data showed.

New applications for U.S. unemployment compensation rose 5,000 to 417,000 , the Labor Department said Thursday.

Initial claims from two weeks ago were revised up to 412,000 from an original reading of 408,000.

http://www.marketwatch.com/story/jobless-claims-in-us-rise-to-417000-2011-08-

[CARLHAYDEN]

August 26, 2011

Youth employment in July 2011

"In July, the employment-population ratio for youth—the proportion of the 16- to 24-year old civilian noninstitutional population that was employed—was 48.8 percent, a record low..."

http://bls.gov/opub/ted/2011/ted_20110826.htm

[CARLHAYDEN]

It almost feels like Obamanomics would have been more successful had the massive stimulus package been solely $800 billion or so in tax credits for firms that did not lay people off.

Yes.

Or, if it had concentrated on construction which would have benefited the economy, such as the border fence and repair to interstate highway system.

Instead, much of it went to feeding the bureaucracy, federal, state and local.

[CARLHAYDEN]

Aug. 30, 2011

Expectations pound August consumer confidence
Lowest level in two years
   
By Ruth Mantell, MarketWatch

WASHINGTON (MarketWatch) — Consumer confidence plunged in August as expectations dived, with worsening views on future business conditions, jobs and income, the Conference Board reported Tuesday.

http://www.marketwatch.com/story/expectations-pound-august-consumer-confidence-2011-08-30?link=MW_pulse

[CARLHAYDEN]

Thursday, Sep. 08, 2011

Reports: Bank of America to shutter 600 branches

Bank of America will close up to 600 branches as part of its reorganization and cost-cutting moves, according to multiple reports this morning.

Read more: http://www.thestate.com/2011/09/08/1962797/reports-bank-of-america-to-shutter.html#ixzz1XMeQbJ00

[CARLHAYDEN]

New jobless claims rise

On Thursday September 8, 2011, 9:14 am
By Pedro Nicolaci da Costa

WASHINGTON (Reuters) -The number of Americans filing new claims for jobless benefits rose unexpectedly last week, further evidence of a weak labor market just hours before President Barack Obama unveils a plan on job creation in a major address to Congress.

http://finance.yahoo.com/news/New-jobless-claims-rise-to-rb-3640825807.html?x=0&sec=topStories&pos=main&asset=&ccode=

[CARLHAYDEN]

A Whopping 77% Of Financial Professionals See No Recovery In Next Year
Gus Lubin | Sep. 13, 2011\

Here's a particularly grim survey of financial professionals from Sageworks Inc. 76.5 percent expect no recovery within the next year. 22.2 percent expect things to get worse.

Read more: http://www.businessinsider.com/sageworks-financial-professionals-77-percent-2011-9#ixzz1XqblqcUb

[CARLHAYDEN]

Number of poor hit record 46 million in 2010

The highlights:
        
1.)   The number of poor Americans in 2010 was the largest in the 52 years that the Census Bureau has been publishing poverty estimates
2.)   the poverty rate was the highest since 1993
3.)   median income declined by 2.3 percent
4.)   About 1.5 million fewer Americans were covered by employer-sponsored health insurance plans

http://www.reuters.com/article/2011/09/13/us-usa-economy-poverty-idUSTRE78C3YV20110913

[CARLHAYDEN]

CARLHAYDEN,

WHAT IS THE BLANK BETWEEN "THAT" AND "THE" IN NUMBER 1?

THANKS,
YELNOC

The space was a typo error.

Thanks for bringing it to my attention.

[CARLHAYDEN]

(Reuters) - The number of Americans filing new claims for jobless benefits rose unexpectedly last week

Applications for unemployment benefits climbed to 428,000 in the week ending September10 from an upwardly revised 417,000 the prior week, the Labor Department said.

http://www.reuters.com/article/2011/09/15/us-usa-economy-idUSTRE78C33C20110915

[CARLHAYDEN]

(Reuters) - The number of planned layoffs at U.S. firms in September jumped to its highest in more than two years due to heavy cutbacks by the military and Bank of America, a private report on Wednesday showed

http://www.reuters.com/article/2011/10/05/us-usa-economy-idUSTRE78C33C20111005

[CARLHAYDEN]

Yes, Carl, the GOP has done a very good job of destroying the economy and convincing simpletons that it's all Obama's fault. You can stop updating us.

Lief,

I will continue to post the facts.

If that offends you, too bad.