Worst. Recovery. Ever.

[Scrapper]

Walmart Earnings Disaster Exposes a Collapsing Economy

http://finance.yahoo.com/blogs/breakout/...35260.html

Walmart (WMT) reported earnings of $1.24 a share this morning ... Analysts had been expecting $1.25

Oh my God, Walmart earnings are down a penny. The world is going to Hell under Obama.

BwaHaHaHa!!!

[SFLiberal]

Employment gains falter in U.S. states

Meanwhile in New Jersey

New Jersey’s Boomerang Generation

Over 100K New Jersey Residents to Lose Their Affordable Health Plans under Obamacare

[tornado]

Employment gains falter in U.S. states

Meanwhile in New Jersey

New Jersey’s Boomerang Generation

Over 100K New Jersey Residents to Lose Their Affordable Health Plans under Obamacare

Perhaps the ignorant, and the apathetic residents of NJ will finally realize they've been screwed by Laurel and Hardy Lite.

[Sidewinder]

Employment gains falter in U.S. states

Meanwhile in New Jersey

New Jersey’s Boomerang Generation

Over 100K New Jersey Residents to Lose Their Affordable Health Plans under Obamacare

Perhaps the ignorant, and the apathetic residents of NJ will finally realize they've been screwed by Laurel and Hardy Lite.

Let's see. Workers in Greece are protesting cuts because they cannot afford them. Workers in Seattle and New York are demanding $15 minimum wage. May I suggest all are confronting the same problem. They cannot afford the cost of living.

All of these problems evolve from a common denominator - the collapsing value of our money. Co-incidentally, the collapsing value of our money also accounts for the destruction of the middle class.

If you would understand our economic problems, start with an examination of what the Federal Reserve has done - consistently, administration by administration. It's not a Democrat/Republican thing. It's a big government thing/big spending thing.

The only peculiar contribution from Bernanke and Geithner in this administration is that they convinced the foreign markets to immitate our inflation - sending it world wide.

[PonderThis]

The world doesn't have world wide inflation right now though, and ours is lower than 2%. So where is this inflation that you're talking about?

[Sidewinder]

The world doesn't have world wide inflation right now though, and ours is lower than 2%. So where is this inflation that you're talking about?

If you haven't figured out that we have one helluva lot more than 2% inflation, there is nothing I can do to understand it for you.

If you would find the immediate bubble derived from TARP and the QEs, look at the stock market.

[PonderThis]

The stock market isn't an example of consumer inflation though.

[Wonky]

The stock market isn't an example of consumer inflation though.

Ponder, I don't think you can win this one.
I have a hunch you can't even tie.

Like moths to the fire, they can't help themselves.

[PonderThis]

Inflation is not up now though. At the moment, commodities other than oil are all down (oil is up at the moment because of the Syria saber rattling going on).

I pay attention to this sort of thing, because logically it seems to me that with all the money pumped into our economy to keep it afloat, we would be having horrendous inflation right now. I predicted it, matter of fact. I'm disappointed it's not here, because I planned for it. It's still not here, and I've been waiting a number of years for it now. I'm with sidewinder, I'd like to know where it is. Maybe he will educate us.

[Sidewinder]

Inflation is not up now though. At the moment, commodities other than oil are all down (oil is up at the moment because of the Syria saber rattling going on).

I pay attention to this sort of thing, because logically it seems to me that with all the money pumped into our economy to keep it afloat, we would be having horrendous inflation right now. I predicted it, matter of fact. I'm disappointed it's not here, because I planned for it. It's still not here, and I've been waiting a number of years for it now. I'm with sidewinder, I'd like to know where it is. Maybe he will educate us.

First keep in mind the difference between monetary inflation - more money in circulation - and price inflation - the adjustment of pricing to reflect the change in supply and demand provoked by the surplus money. Then factor in that we are experiencing a monetary deflation as baby boomers approaching retirement are paying of debt and not incurring new debt. (Remember that a dollar is simply debt - pay off a dollar debt and that dollar ceases to exist. Borrow a dollar and a dollar is created.) The huge rush to provide no qualification student loans is creating lots of new dollars to offset the current deflation so that part is balancing out - although at the price of the balloon in the cost of education.

The vast sums created for the banks haven't gone anywhere except to fund margin accounts for Wall Street investors. The middle class borrower is staying home and not taking on new debt. (Tapped out?) Thus the price inflation has only appeared in Wall Street and education.

When the dollars on Wall Street or campuses begin to be spent and enter the overall economy is when you will see real, out of control price inflation.

[Wonky]

Above, find a discussion of what inflation really means.

I admire academic interest, believe it is the stuff of building good strong societies, and we need to understand nuance and definitions.

For wage earning people the world over, inflation is the increasing cost of those goods and services we must have.

Most people I know are not academics and flinch when the cost of food increases.

But hey, I know how to fish. For a day.

[PonderThis]

I'm impressed with how well modern economists guide our countries money in a manner to keep everyone calm and productive. Especially being as how I'm of the belief there really isn't anything behind any of our money, other than the hope and belief we all have in it. It's like smoke and mirrors to the max.

[Sidewinder]

I'm impressed with how well modern economists guide our countries money in a manner to keep everyone calm and productive. Especially being as how I'm of the belief there really isn't anything behind any of our money, other than the hope and belief we all have in it. It's like smoke and mirrors to the max.

Amen.

[Sidewinder]

Above, find a discussion of what inflation really means.

I admire academic interest, believe it is the stuff of building good strong societies, and we need to understand nuance and definitions.

For wage earning people the world over, inflation is the increasing cost of those goods and services we must have.

Most people I know are not academics and flinch when the cost of food increases.

But hey, I know how to fish. For a day.

Given that food stamps might function as extra money introduced to the supply/demand equation, do you suppose they might be provoking a price inflation for food - which isn't calculated by Fed as part of inflation.

[tvguy]

Above, find a discussion of what inflation really means.

Inflation is what you does to make yer raft float. Over inflation is what you did when it sits in the sun and explodes.

[Wonky]

Above, find a discussion of what inflation really means.

Inflation is what you does to make yer raft float. Over inflation is what you did when it sits in the sun and explodes.

Thank you Dr. Tvg,
Now, get back in your kennel and try to let the humans get on with it.

[cletus1]

Economic growth looks better than expected
By Steve Benen - Thu Aug 29



In July, we received a preliminary estimate on economic growth in the second quarter -- April, May, and June of this year -- that was clearly underwhelming. Today, that number was revised up in a heartening direction.

The U.S. economy grew at a 2.5% annual rate in the second quarter instead of 1.7% as previously estimated, largely because of an improved trade picture, the Commerce Department said Thursday. Economists polled by MarketWatch had expected gross domestic product to be revised up to 2.3%, mainly because of a smaller U.S. trade gap. Even faster growth in exports and a somewhat slower increase in imports largely accounted for the bump in GDP. Companies also restocked warehouse shelves a bit faster than previously believed.


AND:



Is Obama doing something right?

[csrowan]

Haven't you learned anything? If it's something right, it must by definition be because of people on the right, never because of Obama, regardless of the facts. [/right-wing-nutjobbery]

[Sidewinder]

Economic growth looks better than expected

Is Obama doing something right?

I may have read the post wrong, but I thought the criticism was that it was the worst recovery ever - not that it wasn't a recovery.

We won't know whether BO did it right until we pay the price for all that funny money.

[Wonky]

Economic growth looks better than expected

Is Obama doing something right?

I may have read the post wrong, but I thought the criticism was that it was the worst recovery ever - not that it wasn't a recovery.

We won't know whether BO did it right until we pay the price for all that funny money.

And I guess that's true. The thing about the president leading a recovery...
We can't judge it without a metric, and there simply is not one.
Here is what we do know: The G.W. Bush administration led us into an unnecessary war (s), bleeding our treasury and accumulating massive debt while throwing young lives away as fodder. (Remember that surplus?)
And, in the name of "deregulation" allowed financial institutions to invest recklessly in goofy securities, then bailing out the culprits who screwed the pup in the first place.
And you can't even muster the decency to refer to Mr. Obama as your president.

So, yeah, we don't know what the measure of this recovery is. But we sure as hell know who brung us to this dance, and the mess they left us with. By that measure, Mr. Obama looks like the messiah.