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-- The economy is improving
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quote:

Originally posted by DOOMBOT

You should stick to selling checking accounts...

quote:

Originally posted by Krypton You should stick to selling checking accounts...

C'mon Krypton! Dance with me! YEEEEEEEEEEEHAW!!!!

Eat it.

quote:

Investors finally find good news on unemployment Surprise drop in unemployment rate pushes stocks sharply higher, feeds hopes for economy By Stephen Bernard, AP Business Writer On Friday August 7, 2009, 11:45 am EDT NEW YORK (AP) -- Investors are finally getting some good news on unemployment. Major stock indexes are up more than 1 percent Friday as the government's July jobs report shows employers cut fewer jobs last month. The unemployment rate has also unexpectedly fell. The report is often the most anticipated economic news each month on Wall Street so the surprise figures gave stocks a big boost. The Labor Department says companies shed 247,000 jobs in July, the fewest in a year. Economists had expected 320,000 lost jobs. Unemployment has dipped to 9.4 percent from 9.5 percent in June. The Dow Jones industrials are up 135 at 9,390. The Standard & Poor's 500 index is up 18 at 1,015. The Nasdaq composite index is up 35 at 2,008.

http://finance.yahoo.com/news/Stock...n&asset=&ccode=

the economy is not improving. we are way too much in debt for a stupid 'war' & we can't even take care of our own problems like poverty, low education, bad health care, etc. the days of america being the world's super power is over. forget the economy and pull out your mandarin & cantonese books.

quote:

Originally posted by Krypton Investors finally find good news on unemployment Surprise drop in unemployment rate pushes stocks sharply higher, feeds hopes for economy By Stephen Bernard, AP Business Writer On Friday August 7, 2009, 11:45 am EDT NEW YORK (AP) -- Investors are finally getting some good news on unemployment. Major stock indexes are up more than 1 percent Friday as the government's July jobs report shows employers cut fewer jobs last month. The unemployment rate has also unexpectedly fell. The report is often the most anticipated economic news each month on Wall Street so the surprise figures gave stocks a big boost. The Labor Department says companies shed 247,000 jobs in July, the fewest in a year. Economists had expected 320,000 lost jobs. Unemployment has dipped to 9.4 percent from 9.5 percent in June.

You forgot to mention this point from the article: The White House warned it would be "quite some time" before the economy saw sustained job growth, adding it still believed the jobless rate would hit 10 percent this year.

Oh, and the food stamp roles just hit 34.4 million people for the first time, up 2% from the previous month, setting a record for the 6th straight month.
http://www.forbes.com/feeds/reuters...A-UPDATE-1.html

as long as the stock market is fine i dont give a shit.. i think these are krypton's sentiments as well lol

quote:

Originally posted by The17sss You forgot to mention this point from the article: The White House warned it would be "quite some time" before the economy saw sustained job growth, adding it still believed the jobless rate would hit 10 percent this year. Oh, and the food stamp roles just hit 34.4 million people for the first time, up 2% from the previous month, setting a record for the 6th straight month. http://www.forbes.com/feeds/reuters...A-UPDATE-1.html

That's not the point. The point is the worst is over. That's what stocks are trading on at this point.

More good news. You bears are getting murdered.

quote:

S&P Hits 10-Month High on Job Data as Banks Fly- Reuters NEW YORK (Reuters) - U.S. stocks advanced on Friday after stronger-than-expected non-farm payroll data lifted investor optimism and pushed the S&P 500 to a 10-month high. The data boosted stocks across the board, with the financial sector the best-performing group on the S&P. The S&P financial sector index (^GSPF - News) rose 4 percent to 195.50, while the KBW Banks index (Philadelphia:^BKX - News) surged 5.1 percent to 46.14. Dow components Bank of America Corp (NYSE:BAC - News) added 1.6 percent to $16.96, and JPMorgan Chase & Co (NYSE:JPM - News) gained 5.7 percent to $43.10. The U.S. unemployment rate fell in July for the first time in 15 months as employers cut 247,000 jobs, the government said, fewer than expected. "It's all about the employment report today. Wall Street has been fixated on it, and the reaction is strong," said Fred Dickson, market strategist at D.A. Davidson in Lake Oswego, Oregon. "Investors are looking for confirmation that the bottom is close, and employment is a big piece of it. ISM (Institute for Supply Management) is another piece, and put that together with durable goods and housing and the mosaic is slowly filling in that the economy is beginning to stabilize. That's exactly what investors are looking for," he added.

http://finance.yahoo.com/news/SP-hi...n&asset=&ccode=

quote:

The U.S. unemployment rate fell in July for the first time in 15 months as employers cut 247,000 jobs

bwahahahahahahahahahahahahahahaha!!

*gasp gasp*

hahahahahahahahahahaha!! (continued)

Gotta love government statistics. More people are getting fired each month yet the unemployment rate drops...lolol

Sorry krypt, but people who exhaust their unemployment benefits and drop off the dole are not suddenly employed and contributing to the economy. They are still unemployed but uncounted..just as people who have given up looking for work aren't counted (they are labeled "discouraged" workers and not included in the statistics.)

The true unemployment rate is probably closer to 18% today. If you want to play games and say the number of people filing weekly claims are the only ones unemployed, go for it. Heck, why don't we reduce unemployment benefits to 60 days? That should knock the official unemployment rate down to 1%. Happy days are here again!

quote:

Originally posted by Capitalizt [/SIZE] bwahahahahahahahahahahahahahahaha!! *gasp gasp* hahahahahahahahahahaha!! (continued) Gotta love government statistics. More people are getting fired each month yet the unemployment rate drops... hahahahahahaha!!! (continued) Sorry krypt, but people who exhaust their unemployment benefits and drop off the dole are not suddenly employed and contributing to the economy. They are still unemployed but uncounted..just as people who have given up looking for work aren't counted (they are labeled "discouraged" workers and not included in the statistics.) The true unemployment rate is probably closer to 18% today. If you want to play games and base it on the number of people still collecting benefits go for it. Heck, why don't we reduce unemployment benefits to 3 months. That should knock the official unemployment rate down to 3%. Happy days are here again! \

Then by all means, verify your 18% figure. Let's see it.

You guys are so reactionary when a piece of short term good news comes out. The big picture? We were promised the unemployment rate would max out at 8% if the stimulus WASN'T passed. Now it's at 9.4% WITH a failed economic recovery plan. What good is this news really, when it's already understood unemployment is expected to go over 10% in the next year, the welfare and food stamp roles are at their highest levels ever, planned layoffs rose 31% (meaning higher than expected firings are coming in the near future), businesses are still not hiring, and corporate tax revenues to the government are the lowest in 48 years (meaning here comes the tax increases, meaning expect more layoffs).

quote:

Originally posted by Capitalizt [/SIZE] bwahahahahahahahahahahahahahahaha!! *gasp gasp* hahahahahahahahahahaha!! (continued) Gotta love government statistics. More people are getting fired each month yet the unemployment rate drops...lolol Sorry krypt, but people who exhaust their unemployment benefits and drop off the dole are not suddenly employed and contributing to the economy. They are still unemployed but uncounted..just as people who have given up looking for work aren't counted (they are labeled "discouraged" workers and not included in the statistics.) The true unemployment rate is probably closer to 18% today. If you want to play games and say the number of people filing weekly claims are the only ones unemployed, go for it. Heck, why don't we reduce unemployment benefits to 60 days? That should knock the official unemployment rate down to 1%. Happy days are here again!

He is right, Krypton... the people who have exhausted their unemployment benefits and are still not employed are not counted in those government statistics. Good Point, Capatilizit.

The broader measure of unemployment called U-6 includes discouraged workers who have given up because they can't find regular jobs due to "adverse economic conditions". The official term for them is "marginally attached".

http://www.bls.gov/news.release/empsit.t12.htm

Even the government stats show the true rate is at 16.3% krypt..and you should know better than to have much faith in government statistics. If those numbers are fudged (which is likely IMO), I think an actual rate of 18-19% isn't out of the question.

and here's an extra dash of cold water and reason on those numbers:

quote:

In June, the Bureau of Labor Statistics said the civilian labor force was 154,926,000 people. In July, 796,000 of those were taken out of their definition of the workforce, and thus their unemployment calculations for this month, because they have stopped looking for work �because they believe no jobs are available for them.� Ten percent of the June workforce would be 15.4 million, 1 percent would be 1.5 million, and so 796,000 is roughly one half of one percent. In other words, BLS took .5 percent of what you and I would consider unemployed and took them out of their total. And with that, unemployment went down one tenth of one percent. Of course, if you take the July number of unemployed, 14.5 million, and add that 796,000 of discouraged workers, you get a total of 15,296,000. In a work force of July�s number of 154,504,000, that�s an unemployment rate of 9.9 percent. In a work for of June�s number of 154,926,000, that�s an unemployment rate of 9.8 percent

http://campaignspot.nationalreview....zc3MmMxNzEzYWM=

Score 1 for Capitalizt

quote:

Originally posted by The17sss and here's an extra dash of cold water and reason on those numbers: http://campaignspot.nationalreview....zc3MmMxNzEzYWM= Score 1 for Capitalizt

PM

One of my small regional bank stocks was up almost six and a half percent on the day. Its up 20% on the week.

Invest in COLB!!!

quote:

Originally posted by The17sss You guys are so reactionary when a piece of short term good news comes out. The big picture? We were promised the unemployment rate would max out at 8% if the stimulus WASN'T passed. Now it's at 9.4% WITH a failed economic recovery plan. What good is this news really, when it's already understood unemployment is expected to go over 10% in the next year, the welfare and food stamp roles are at their highest levels ever, planned layoffs rose 31% (meaning higher than expected firings are coming in the near future), businesses are still not hiring, and corporate tax revenues to the government are the lowest in 48 years (meaning here comes the tax increases, meaning expect more layoffs).

Yea, we're in a recession. Higher unemployment is a given. But again, it's a lagging indicator. The business has to start losing money before they lay people off. The business also has to start doing better before they start hiring again. This is happening. Inventories are down, costs cut, and and money flowing into and throughout the economy again. Just what you need for businesses to hire again.

quote:

Originally posted by Joss Weatherby One of my small regional bank stocks was up almost six and a half percent on the day. Its up 20% on the week. Invest in COLB!!!

Ya, my GME is up 11% in 3 days... :-)

quote:

Originally posted by The17sss Good Point, Capatilizit.

yeah, if stating the bleeding obvious can be described as a good point. every time employment figures are released, one side will always focus on the "less people looking for work angle" if they're out of government, or the lower unemployment figures if they're in government.

the iq bell curve just shifted to the left with this thread.

I have written a stock analysis report on GameStop (GME). Check it out. If any of you are looking to buy into the coming bull market.

---------------------------------------------------------------

GME has sustained double digit earnings growth since 2004 with a strong correlation in the stock performance. The recession of 2008 has resulted in a disconnect between GME�s earnings curve and its stock price. This indicates an opportunity to buy into GME while its earnings power remains unrecognized by the market. Chief Financial Officer David Carlson has bought in excess of $1 million worth of GME stock. This is an indication that insiders inside the company are bullish. GME is valued at $35.73 for FY2010. With a current price of $22.86, GME is 56% undervalued for the fiscal year. GME�s PE indicates the company is cheap relative to its competitors. Quarterly revenue growth is above the industry average. Gross and operating margins are also above GME�s leading competitors.

http://finance.com/yahoo_site_admin...E.219151238.pdf

quote:

Originally posted by Max Thomson go tell the thousands of people who've been laid off how your nice numbers should make them feel better now that the economy is improving.

GREEN SHOOTS

This just in: the federal deficit just increased $181,000,000,000.... IN JULY. Tax revenue to the government is down 17%, and government spending is up 21%. Shouldn't spending decrease when less money gets received? Massive tax increases are a-coming!
http://thehill.com/leading-the-news...2009-08-09.html

BUT... the economy is improving.

quote:

Originally posted by The17sss This just in: the federal deficit just increased $181,000,000,000.... IN JULY. Tax revenue to the government is down 17%, and government spending is up 21%. Shouldn't spending decrease when less money gets received? Massive tax increases are a-coming! http://thehill.com/leading-the-news...2009-08-09.html BUT... the economy is improving.

Good. Taxes are good.

Quit being selfish.

September and October expected to be slow. Might want to take profits now.

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