Looking for that patch of blue….
When dark, angry clouds fill the sky, you search the heavens for a patch of blue — just a patch will be enough — to feed hope that better times may be coming.
For example, one month does not make a trend, but retail sales did rise an unexpected 1 percent in January over December. Analysts had been expecting a seventh straight month of declining sales. So that’s good, right?
And according to the Wall Street Journal today:
“Even as job losses mount and profits plunge, some glimmers of stabilization are emerging in global markets.
In the U.S., Europe and China, separate surveys of manufacturers’ purchasing managers all inched upward in January, suggesting that the contraction in manufacturing activity could be slowing. The interest rates at which banks lend to one another are easing. And some credit markets are thawing.
Analysts say rock-bottom official interest rates, promises of massive fiscal-stimulus packages and central banks’ other efforts to revive markets have helped ease some tensions in financial markets and may help put a floor under falling business confidence.”
So we’ve got that going for us too. Which is nice…. especially on a Friday the 13th.
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94 comments Add your comment
Rascal
February 13th, 2009
6:59 am
Funny how quickly you point out good news now. Seems in previous 8 years, all good news was not enough and all bad news was shouted from the rooftop by you and the rest of the cheering section for big government.
gttim
February 13th, 2009
6:59 am
Some friends and I have been talking about this 1% increase. I know I have spent more money in January than any month in the previous year, but only because almost everything I am buying is 75% off. Most of my friends have been doing the same thing. My GF was turning up her nose at 60% off items, deciding to wait. So while it did increase, I doubt it is helping the retailers much.
Road Scholar
February 13th, 2009
7:03 am
One month does not define a trend. wait until the next few month’s reports are available.What is the average of the past 3 or 6 months?
Bud Wiser
February 13th, 2009
7:06 am
The key to surviving this economic downturn is to become a CEO or top executive at your company.
AJC has a nice link: http://projects.ajc.com/executive-pay/?cxntlid=nav_biz_ftrs_exec_pay
My former employer, Delta Air Lines, has no less than 6 of th top 25 executive compensation packages in the state, according to the article. This is from a company that has lost BILLIONS of dollars the last 10 years or more; just think how much money they could have made had the company been run worth a crap and actually made money!
I also see an approach from the other side of the coin; this fraudulent ’stimulus’ package is going to give, yes GIVE, money to all sorts of people who have never paid income taxes, and call it a “tax credit/rebate”, sort of like kicking sand in the faces of those who actually work for a living and help support these bums.
Tattoo parlors and liquor stores may see the biggest boon once those checks start flowing out.
Congress disgusts me. The president disgusts me. Each and every one of them should be investigated by DOJ and IRS and SEC, and any other acronym you can come up with, because they have taken this awesome responsibility we have given them and turned it into a money throw-away of biblical proportions. As a group they are Bernie Madoff on steroids.
Bud Wiser
February 13th, 2009
7:08 am
I still haven’t figured out how to do the link thing, and it has me in a pi$$y mood.
Joey
February 13th, 2009
7:12 am
Jay;
Wow! Suddenly you have developed the ability to actually look for something good. And clearly there is no shame in you that for the last eight years you have been totally and purposely focused on finding only dark skys.
What a sad but enlightening commentary this post is about Jay Bookman.
Mike
February 13th, 2009
7:19 am
I have to agree with Joey. I have thought for a while that one of the benefits of an Obama administration would be a return of the media’s ability to report good news. I am glad to see that I will not be disappointed.
DB, Gwinnettian
February 13th, 2009
7:29 am
Could the wingers be a little more predictable with their nitpicking? sheesh.
For me, the news of retail sales was more along the lines of “yeah, that’s what you get when virtually every outlet has what amounts to a ‘going out of business/lost our lease’ extravaganza–you almost have to go into a store or go online and check out what’s out there and pick up some bargains.”
And wingers, keep in mind that most of January was still during the Bush administration. So you can get whatever warm and fuzzies you wish by spinning this as a “Bush recovery.” Feel better now?
Mort Merkel
February 13th, 2009
7:29 am
Also, no recession has ever lasted more than 18 months. That’s not that far away.
Mike
February 13th, 2009
7:29 am
BTW, if anyone is interested in what economists (not pundits) have to say about the efficacy of the stimulus, take a peek here:
http://www.mcclatchydc.com/227/story/62082.html
“WASHINGTON — The compromise economic stimulus plan agreed to by negotiators from the House of Representatives and the Senate is short on incentives to get consumers spending again and long on social goals that won’t stimulate economic activity, according to a range of respected economists.”
Jay
February 13th, 2009
7:40 am
So Mike, Joey, let me see if I’ve got this straight:
It’s partisan of me to hope that the economy improves and we avoid another Great Depression?
Do I have that right, gentlemen?
Yeah.
Somebody around here is sure enough partisan. Somebody….
Mrs. Godzilla
February 13th, 2009
7:47 am
DB,
I gotta agree with you. Predictable.
It would be fun one day if we 200 ton libs posted for the cons.
Ya’ know give them the day off.
Create a right wing “mad libs” template.
ie:
Jay Bookman again you show yourself to be a ___________________.
Your ________________is all _________________________.
The _______________, __________________ and ______________
libs are changing this country into ______________________.
They are all ____________________ and they will go to ______________.
They don’t believe in ____________________and ___________________
and want to ___________________ and ___________________.
DB, Gwinnettian
February 13th, 2009
7:50 am
Believe me, Mrs. G, I have thought about making an appearance as a parody troll, just to see how far I could push it. But that would be wrong.
Full disclosure–I did post here once under a joke-name “Wingnut commander” just to deliver an admittedly stupid one-liner. Which bit me in the butt, because I used the same desktop a day or two later to post something earnest and heartfelt–which went out on the Intertubes under the same name! d’oh!
Lesson learned: Dishonesty is very Rong with a capital R.
DB, Gwinnettian
February 13th, 2009
7:51 am
Wow, is “butt” a banned word?
DB, Gwinnettian
February 13th, 2009
7:51 am
Guess not.
Taxpayer
February 13th, 2009
7:53 am
Jay,
We have certainly been enjoying the uncrowded malls and marked down merchandise although I’m sure the retailers are none to happy. Could it have something to do with the huge loss of jobs, for openers. I wonder if job creation would help matters. Now, wouldn’t that be a good thing for an unlucky day.
Mrs. Godzilla
February 13th, 2009
7:55 am
I had similar bite marks prior to 01/01/08.
I do think that there are those among the posters here who are still
doing it though.
I’ve come to think of it as color commentary!
Joke Name
February 13th, 2009
7:57 am
Mrs. G, who you callin’ “Colored”?
Redneck Convert
February 13th, 2009
8:02 am
Well, like me and Sister Dusty always say, it was all Clinton’s fault for doing You Know What with that intern. Now maybe God will stop punishing us for the Sin and let the economy grow. Anyhow, all this stimulation bill will do is slow the economy down some more. It would of growed on its own. That’s our Talking Point and I for one am sticking to it. If we start sending checks to the old coots and the lazy welfare bums we are going against His Will. People made Bad Choices and that’s why they are out of work. They need to take some Personal Responsibility.
Anyhow, it’s Friday. Seems to happen every week. After I finish hauling the beer I’m headed to Billy Bob’s for a cold PBR or two or five. We’ll talk about what a flaming librul this Obama is and how we need to get back to keeping Those People in their place and letting Trickle Down work.
Have a good day everybody. I’m praying for these guys that run the Peanut Corporation of America. All they wanted to do was keep some good old boys in a job and a bunch of crazies come along with so-called tests that claimed the peanut butter had poison. If the libruls get their way we’ll have nosy inspecters all over the places that make stuff.
DB, Gwinnettian
February 13th, 2009
8:04 am
Taxpayer @ 7.53, won’t job growth be a real lagging stat? in other words, isn’t it very likely we’ll continue hemorrhaging jobs for at least another quarter or two even under the rosiest scenarios?
(Mind you I’d love for the Job-Unicorn to make a cameo, but I’m just facing the horrid reality here.)
Joey
February 13th, 2009
8:05 am
Jay; Your 7:40 defense of yourself is not a defense. It is more of an admission that our assessment is correct. Being called a Gentleman by you, especially with that inflection, is a high compliment.
Clearly you recognized yourself, and perhaps, just perhaps felt a litte shame that you abandoned you journalist ethics.
But let me be more clear. Hope is not partisanship. I am full of hope. However, what you did for the last 8 years was to try your best to destroy hope. Your post shows that you know that.
DB, Gwinnettian
February 13th, 2009
8:07 am
I am full of hope.
Is that what the kids are calling it these days?
Taxpayer
February 13th, 2009
8:10 am
DB,
Job growth is a lagging indicator. I was just thinking ahead to getting legislation passed and some more government jobs created to help fill in the gaping hole in the job market until businesses get back on their feet.
DB, Gwinnettian
February 13th, 2009
8:10 am
Before I forget–Hillbilly Deluxe, if you’re lurking I did see your reply to me yesterday, thanks. We’ll get into the carbon-offset thingie some more, some other time perhaps.
Much as I’d love to stay and chat and really get into the weeds of the macro-economicals… later, all.
Roadblock
February 13th, 2009
8:17 am
I gave everyone I know gift certificates for Christmas. They are just now getting around to using them. Nothing to get excited about.
williebkind
February 13th, 2009
8:30 am
These posts are sure getting boring! I guess I am immuned to the same old partisan comments by both sides. The liberal shumer does not believe that I mind that 350 billion dollars worth of pork and earmarks are in the stimulus package. I guess I should call him and ask him how I feel today or what kind of weekend I am heading for. Midori, you should join Redneck Convert and have a couple of PBR too.
AJC/DNC Management
February 13th, 2009
8:32 am
I for one am going to miss the old GloomandDoom.Urinal, I used to look forward to reading Michael E Kanell’s depression era hysteria for the last 8 years.
For instance, a 1% rise in retail sales during the Bush years used to bring great wails of grief about our savings rate and the national debt, not to mention the dreaded American over consumption of world resources, blah, blah, blah.
But alas, in this new era of “bipartisanship,” the whining and moaning about every tiny little thing must come to an end, AND COME TO AN END RIGHT NOW OR ELSE, and from now on we MUST BE HAPPY or the thought police will be angry with us for not participating in the hopeandchange.duh, like good little toadies.
Mrs. Godzilla
February 13th, 2009
8:34 am
From Time: 25 People to Blame for the Financial Crisis
Me, you and Bill Clinton mad the list.
Mrs. Godzilla
February 13th, 2009
8:35 am
mad, maybe….but made would have been the correct spelling
Taxpayer
February 13th, 2009
8:36 am
Jay,
I see you got the picture and text thing working. Are you going to be able to get the traveling music thing working as well?
getalife
February 13th, 2009
8:43 am
Sad, tragic day in Buffalo today.
The economists that predicted this mess say it is looking like a lost decade like Japan and banks are still insolvent until they can stick us with the losses.
Shawny
February 13th, 2009
8:51 am
And it happened without a stimulus.
AJC/DNC Management
February 13th, 2009
8:52 am
Naturally McLaren was horrified at the prospect of a resurgent America gunning gas gulping RV’s across the nation’s interstates, accelerating glacier melt, panicking the polar bears, and doubtless drowning many South Pacific islanders. That’s not the kind of recovery we want! “For many people, economic recovery means ‘getting back to where we were a few months or years ago,’” McLaren sermonized. “That means recovering our consumptive, greedy, unrestrained, undisciplined, irresponsible, and ecologically and socially unsustainable way of life.”-AmSpec
So, uh, Jay, did you check with headquarters before you unleashed your happiness this morning?
I suspect they might be calling.
Mike
February 13th, 2009
8:55 am
Jay -
What a silly response. Your reading comprehension is really poor for a journalist.
Our criticims is that you and the rest of the media ignored or downplayed good news during the Bush admin because you wanted to get your candidates in office. Now that your candidate is in office, the media has deigned to actually feature good news.
That commentary has no relation at all to your silly straw man argument about your “hope that the economy improves and we avoid another Great Depression.”
If you are going to respond to what someone says, at least address their actual comments, not transparent straw men arguments. I doubt that will ever happen, but it would a be a refreshing change.
Wyld Byll Hyltnyr
February 13th, 2009
8:56 am
The emerging good news is the highly patisan poor execution from the Obama administration looks to set up 2010 well for a conservative comeback
Mike
February 13th, 2009
8:57 am
Mrs. Godzilla –
And how is your “mad lib” any different than your own quotes? Your hypocrisy is expected, but laughable.
AJC/DNC Management
February 13th, 2009
9:06 am
Geez, Peggy Noonan hasn’t hopped aboard the happy train-
Any great nation would worry at closed-up shops and a professional governing class that doesn’t have a clue what to do. But a great nation that fears, deep down, that it may be becoming more Suley than Sully—that nation will enter a true depression.
Bark, bark.
Grrrrrrrrrr.
TnGelding
February 13th, 2009
9:10 am
Mort Merkel
February 13th, 2009
7:29 am
And what if the recession becomes a depression, as in Great Depression? How long did that last? And if the government isn’t able to get the banking system working again, it could happen. Think about that as you try to destroy Obama and the faint glint of hope from the poor and down-trodden.
Taxpayer
February 13th, 2009
9:14 am
Mrs. G. at 8:34,
I liked the picture. The swelled heads on the little people was so appropriate. I can’t argue with the name at the top of the list however I would move Greenspan up and the American consumer down on the list. American consumers need to be better educated so I would also add educators to the list. We are not teaching folks some of the basics that they really need.
Bosch
February 13th, 2009
9:22 am
I had a thought this week that I’ve been working out in my head, but maybe some of you can help me.
Why is it the government, more particularly, the President’s or Congress’ responsibility to create jobs?
I know we need them for the tax base, but isn’t creating jobs for the small businesses and corporations of the world?
And since corporations have been getting huge subsidies over the past few years, and shipping jobs overseas – how in the world could anyone think for one second that we should continue with this?
When Commie checks in later, I’m going to ask him if he learned this in his Duke MBA classes:
Is it common business practice to now lobby for tax cuts, pay your top executives all your profits, ship jobs overseas, and buy all your stuff from China?
mm
February 13th, 2009
9:25 am
Mrs. G,
The 25 people article was interesting reading.
Wyld Byll,
Don’t count your chickens…
TnGelding
February 13th, 2009
9:26 am
There’s supposed to be provisons in the stimulus to encourage business to keep jobs here. We’ll see.
You might find this interesting:
http://www.cnbc.com//id/15840232?video=1031784249&play=1
I’ve been saying it for months.
Jay
February 13th, 2009
9:27 am
Taxpayer, Mike, please stop the tedious woofing. No more.
Midori
February 13th, 2009
9:30 am
Mike,
stop whining about Taxpayer not whining.
Willieb – sorry, but what is “PBR”?
Shawny — we can only go up from here. You have a problem with that?
Joey – you live for this blog, don’t you?
Bud Wiser – you made me smile. I’m still reeling from that.
Mrs. G – you are and always will be “da bomb”
Bosch
February 13th, 2009
9:30 am
Jay,
Have you figured out how to put in song links for this evening?
If so, I’d like to suggest this tune in honor of Valentine’s Day – it’s a good love song – don’t go by the title, listen to the lyrics – it’s an imaginary conversation between Jesus and Judas after they both get to heaven – true love.
Until the End of the World by U2
RW-(the original)
February 13th, 2009
9:32 am
I guess CNN didn’t get the memo that after eight long years of declaring every crack in the sidewalk to be Bush’s fault and the end of our country that it’s now time to grab any straw and portray it as Obama’s rebirth of our nation.
Jump in retail sales fuels skepticism
Total sales rose 1% in January versus expectations for a decline, but economists question whether there’s really a rebound.
Bosch
February 13th, 2009
9:32 am
Wow, Midori! How’d ya’ do that smiley face? I’m impressed.
EJ
February 13th, 2009
9:33 am
Job losses mount and we keep raising the min. wage. Before the first increase, unemployment was 4.6%. What will raising it yet again in July do to the economy?
http://www.nolanchart.com/authors/articles/article.php?ArticleID=5985
Taxpayer
February 13th, 2009
9:34 am
Oh, all right Jay. I’ll ignore him from now on — just like I agreed to quit using that “w” word. After all, I am a man of my word.
RW-(the original)
February 13th, 2009
9:37 am
Taxpayer and Bosch,
YouTube videos have an embed code that Jay only has to copy and paste into a new post. Bosch, I dare say you could do it with your new found technoskillz and I’m sure Jay has that copy and paste maneuver mastered. It’s 90% of the content here.