Encouraging economic data, from sources public and private

Last week, a better-than-expected jobs report inspired scoffing among those to whom good economic news is bad political news, including suggestions that the government numbers had somehow been cooked as part of a political conspiracy.

That doesn’t seem to have been the case, as economic data continue to surprise on the upside, from government as well as private economic sources, and across economic sectors:

from Bloomberg:

The economy is improving more than professional forecasters anticipated, particularly in data on employment and housing, according to the Bloomberg Economic Surprise Index, which compares 38 indicators with analysts’ predictions. The index, based on gauges compiled by private businesses and trade groups in addition to government, confirms U.S. growth is generating jobs in the face of a global slowdown and looming federal spending cuts and tax increases known as the fiscal cliff.

“The economy is improving, and the labor market is getting better,” said Robert Brusca, president of Fact & Opinion Economics and a former New York Fed economist. “These numbers are what they are, they’re not being slanted. On a scale of one to 10, the economy is at a fairly firm six and may be heading higher….”

From Reuters, on consumer sentiment:

The Thomson Reuters/University of Michigan’s preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, and the highest since September 2007, the survey showed on Friday.

The new buoyancy among consumers comes shortly after the U.S. unemployment rate tumbled to its lowest in nearly four years in September as more people returned to the workforce and found jobs than economists had predicted.

“We are getting some quite interesting signals from consumer sentiment and employment data – both (the) unemployment rate and initial claims – that there has been some quite significant improvement in the economy,” said David Sloan, an economist at 4Cast in New York.

From the Census Bureau on retail sales:

WASHINGTON — Retail sales rose a larger-than-expected 1.1% in September as consumers shook off fears of looming economic problems and continued to boost their spending after pulling back earlier this year.

The new data Monday came as the Commerce Department revised August’s increase in retail sales to 1.2% from the earlier estimate of 0.9%. That meant the rise in August was the largest monthly gain since October 2010.

Economists had expected a 0.8% increase in September, according to a survey by Bloomberg. Retail sales last month were up 5.4% from a year earlier. Sales for the three-month period ending in September were up 4.8% from the same quarter in 2011.

From Business Insider, on housing:

Despite some nagging doubts that have remained over the U.S. housing market, consensus is that housing has turned the corner and is recovering.

In his latest note titled The Housing Recovery Is For Real, Deutsche Bank’s Joseph LaVorgna writes that the “residential housing market is in the very early stages of a durable recovery.”

LaVorgna says this recovery in housing is important because housing is what led the U.S. economy into a recession, and is part of the reason the recovery has been so slow. Moreover, as “a leading indicator of underlying domestic demand,” any improvement in housing suggests that underlying domestic demand should improve as well. From Lavorgna:

‘…. At minimum, the strength in residential construction suggests it is unlikely that underlying domestic demand will weaken further. This provides us with some comfort that the recent sub-par performance in the economy is not long lasting and that over time, domestic demand will strengthen, perhaps as concern over Europe fades a bit and the “fiscal cliff” is adequately dealt with.’ “


From Fitch Ratings, on housing construction:

Fitch Ratings raised its projection for single-family starts and new-home sales this year, but warned housing growth could be somewhat less robust in 2013.

The ratings company expects single-family housing starts to improve about 19% in 2012, with new-home sales and existing-home sales increasing 19.5% and 8.5%, respectively.

Fitch, last month, forecast a 12% rise in single-family housing starts, 10.5% growth in new-home sales and a 5.6% bump in existing-home sales.

Fitch said the year-over-year gains for single-family starts and new-home sales earlier this year have sustained momentum. Meanwhile, seasonally adjusted statistics for single-family starts, new homes and existing-home sales have also been advancing most months.

From Ward’s Automotive Group, the auto industry newsletter, reporting a surge in fourth-quarter auto production in North America:

Hot on the heels of an estimated 20,300-unit September production shortfall, North American car and truck assembly plants are embarking on an even more robust fourth-quarter program than the one put in place a month ago.

Although Ford has not yet revealed what revisions it has in store for October-December, the rest of the industry already has boosted production plans by some 53,900 units for the period.

The bulk of the increase is set to occur this month with 61,700 units added to the October slate, some of which likely were deferred from September and some pulled forward from December’s plan, now 16,400 units lower than it was a month ago.

But, even assuming the entire September and December downward volume adjustments are included in this month’s higher schedule, that still means an additional 16,700 vehicles in the October boost, on top of which some 8,600 units have been added to the November plan.

The largest Q4 increase comes from General Motors, up 18,500 units, mostly cars, including gains of 26,000 in October and 3,000 in November, followed by a 10,500-unit cut in its December slate…

Incorporating the revised outlook, North American plants now are in line to build some 15,692,200 cars and trucks this year, up 16.5% from 2011’s 13,471,500 completions.

NAProdSchedule1210

– Jay Bookman

508 comments Add your comment

Lord Help Us

October 15th, 2012
3:08 pm

More liberal media lies…

Kamchak ~ Thug from the Steppes

October 15th, 2012
3:12 pm

Heads exploding in 3…2…1….

Lord Help Us

October 15th, 2012
3:12 pm

If this were true, the stock market would be way up and the unemployment rate would be falling…

And, ‘EVERYBODY KNOWS’ things are getting WORSE…so there…

Smirkin' Joe

October 15th, 2012
3:13 pm

“Last week, a better-than-expected jobs report inspired scoffing among those to whom good economic news is bad political news, including suggestions that the government numbers had somehow been cooked as part of a political conspiracy.”

It has also (as this column shows) “inspired” the making of mountains out of molehills among those to whom good economic news is good political news for those who wish to spin it for political advantage (like Jay).

Tundra Dude

October 15th, 2012
3:13 pm

More liberal media lies…

Exactly. Sounds like a VAST Left Wing conspiracy…..

stevie ray...clowns and jokers

October 15th, 2012
3:20 pm

Agreed…hard to tell if it will be lasting or simply a bright spot in a sea of terror…..

Interesting how politicians and all of us typically suggest the government has material control over this…this of course is not the case.

Jay, do you suppose the average unemployed person or underemployed give a flip about data that is not remotely related to their well being….if we assume the unemployment including underemployment is around 15%, that’s a lot of discouraged folks who could care less about these fancy, often partisan measures..What about the 14% unemployment number among african americans?

Good signs but these will not resonate with those currently facing difficulty..

moonbat betty

October 15th, 2012
3:21 pm

I called it!

By the last week in Oct. the economy will be fully recovered.

Wow! Just in time for the election.

Imagine that?

Send your money to http://moonbatbetty.com and I will provide you with all your sports picks for the rest of the season.

stevie ray...clowns and jokers

October 15th, 2012
3:22 pm

AT least our elected officials are getting much wealthier by serving..

http://www.rollcall.com/issues/57_51/And-Congress-Rich-Get-Richer-209907-1.html

This is a disgrace and the second biggest factor in dysfunctional government next to private money..

EJ Moosa

October 15th, 2012
3:22 pm

St Simons

October 15th, 2012
3:22 pm

all of my clients except one, who moved back to Costa Rica- have better
financials than last year or the year before. (the Costa Rican lady, said
she was moving back for “real health care – here, you have barber
surgeons”)

after that 8 year trickle-on debacle, its pretty amazing what we
can do even with a con House trying to drag us down.

Kamchak ~ Thug from the Steppes

October 15th, 2012
3:24 pm

Server not found

Firefox can’t find the server at http://www.moonbatbetty.com.

moonbat betty

October 15th, 2012
3:25 pm

“barber surgeons”

lol – Yeah, run on down to costa rica if you need a quadruple by pass or brain surgery.

moonbat betty

October 15th, 2012
3:26 pm

Kam – Sorry, Thugs not allowed :)

Jay

October 15th, 2012
3:27 pm

Jay, do you suppose the average unemployed person or underemployed give a flip about data that is not remotely related to their well being

Sure they do. When they see 3.8 million new private-sector jobs created in the last two years, sure they care. The consumer sentiment data confirms the fact that people are feeling better about things.

Smirkin' Joe

October 15th, 2012
3:27 pm

“Server not found. Firefox can’t find the server at http://www.moonbatbetty.com.

Duh…

Janney

October 15th, 2012
3:29 pm

Yeah, Jay, quit “making mountains out of molehills” regarding the good economic news. Let’s concentrate instead on Solyndra, Fast and Furious, Rev. Wright, birth certificates, and all the myriad mountains of information that implicate President Obama in scurrilous activity.

Kamchak ~ Thug from the Steppes

October 15th, 2012
3:30 pm

There were storms in the area last night, betty.

Was your server taken out by a wayward Kansas farmhouse that was caught up in a tornado by chance?

Smirkin' Joe

October 15th, 2012
3:31 pm

“Jay, do you suppose the average unemployed person or underemployed give a flip about data that is not remotely related to their well being.”

If they have been continually unsuccessful at finding a job, they will care very little about such numbers – because those “statistics” have not translated into anything good for them. To suppose otherwise is to not know human nature.

moonbat betty

October 15th, 2012
3:32 pm

There goes Kam wishing me harm again!

Steve-USA

October 15th, 2012
3:32 pm

I will take any good economic news we can get. Let’s hope Washington doesn’t take the recovery off the cliff.

moonbat betty

October 15th, 2012
3:34 pm

Yes, Steve, agreed.

Any news is good news, but some will tend to take the news slightly (just a teeny tiny bit) overboard.

Smirkin' Joe

October 15th, 2012
3:34 pm

“Yeah, Jay, quit “making mountains out of molehills” regarding the good economic news.”

Must have touched a nerve…

Cosby

October 15th, 2012
3:35 pm

As good as it sounds, and I do believe certain parts of the economy are doing better, but considering we have been in the bottom for the past four or five years, it is not surprising. sooner are later a car / vehicle has to be replaced, the washer or dryer gives out, the HVAC system needs reparing or replacing..but the question remains, is this truly a trend or a blimp on the screen. another question not addressed by this data at what cost is the economic forecost…are the purchasers going back into debt they cannot afford nor pay for, has medium income for all increased, will the continued national debt eating away at the GDP have a future affect…ahhh..a little data and we are now all driving lexus’s and vacationing in the tropics…hang on the cliff is only five more miles!!

Regnad Kcin

October 15th, 2012
3:35 pm

“If they have been continually unsuccessful at finding a job, they will care very little about such numbers ”

If I was out of work (again), I would certainly be heartened that the economy was gaining millions of jobs a year, rather that shedding them.

I would absolutely feel more positive about my job search. How could I not?

Jay

October 15th, 2012
3:35 pm

So Moosa, are you arguing that data NOT seasonally adjusted is somehow more accurate and predictive?

Really?

ITS ALL BUSH"S FAULT

October 15th, 2012
3:35 pm

Inpite of the GOP CON job and Tea Party Cluster puck Obama and the democrats have EARNED the right to a second term…4 more for 44… SUCK iT CONS!

barking frog

October 15th, 2012
3:37 pm

We have a jobs problem
slightly related to the
housing collapse that must
be addressed long term.

Just Saying..

October 15th, 2012
3:38 pm

Jay, your thoughts as to how much impact this data may have in the remaining days before Nov 6?

stands for decibels

October 15th, 2012
3:39 pm

However, Romney’s likability polling is improving, so I guess it’ll still be a close one.

Paul

October 15th, 2012
3:41 pm

And updated data just in time for the debate.

So we can hear Republican pundits claim “as a Romney victory becomes more likely, the business community and consumers respond with spending and investment, leading to positive outcomes in blah blah blah….”

Joseph

October 15th, 2012
3:42 pm

Wow jay you have been working hard today throwing out three blogs of non-sense. I guess with another epic whoppin about to go down tomorrow night your already doing damage control….

Paul

October 15th, 2012
3:42 pm

But I really am pleased more people are getting jobs and more people are buying cars and employing other Americans.

Could it be…. a strong, vibrant, healthy and growing middle class… buying cars and homes and goods…. are the real job creators?

Kamchak ~ Thug from the Steppes

October 15th, 2012
3:43 pm

No betty, I would not wish you harm. Think of The Wizard of Oz as a cautionary tale for one such as you.

Jay

October 15th, 2012
3:43 pm

Saying, I wouldn’t know how to guess on that one.

Jay

October 15th, 2012
3:44 pm

Joseph, your latest iteration of “nanny nanny boo boo” is duly noted, and is consistent in value with previous contributions on your part.

Smirkin' Joe

October 15th, 2012
3:44 pm

“I would absolutely feel more positive about my job search. How could I not?”

Because 1) getting part-time or even full time work at a fraction of what you used to make in a totally different field – just to get by – is nothing to feel positive about 2) people need career jobs and for that to happen the economy is going to have to improve DRAMATICALLY more than the month or two “bounce” we see from time to time 3) for anyone that reads the news, the larger picture is pretty bleak and anyone who suggests otherwise without a clean and viable plan for recovery is smoking weed.

kayaker 71

October 15th, 2012
3:45 pm

Bookman , 3:27

“3.5M private sector jobs created over the last two years”? But, as usual, you are leaving out the best part. For every private sector job that Bozo “created”, someone left the jobs hunt. Those people that left are conveniently left out of the unemployment figures. And “those improving jobs numbers” are related to part time workers, many due to the holiday season, and government jobs. Nothing substantial. Cooked numbers? Possibly not but a good through look at jobs picture? Not on your life. Just leave out the parts that don’t fit with your scenario and make it look as good as possible for your candidate. That’s called being a hack.

Logical Dude

October 15th, 2012
3:46 pm

Now, let’s see if we can pin this one on Obama, the same way we can pin the depre…errr. . . recession on Bush.

Both parties joined together didn’t make as much difference as market forces, and some markets taking advantage of limited regulation. (that both parties were paid to ignore).

The story would have been the same under McCain (sorry, no link available for my opinion there).

But yes, the economy is coming around, albiet slowly. Well, until we hit the wall between government inaction and runaway debt.

Steve-USA

October 15th, 2012
3:46 pm

Just Saying… – Jay, your thoughts as to how much impact this data may have in the remaining days before Nov 6?

If I may take that question in another direction. News like this can make people feel more comfortable about shopping in the Holiday season. The better the shopping is the the more hope the economy has to gain solid momentum.

However if after the election the next big saturation story is all negative about the fiscal cliff people might be more unlikely to make some feel good purchases.

Just my opinion with no source other than myself. ;)

Mary Elizabeth

October 15th, 2012
3:47 pm

I just hope that Gov. Romney is not elected President because if he is, he will most certainly try to take credit for the economic turnaround, unfairly.

Last week Paul Krugman wrote that – if Republicans had not opposed President Obama’s Jobs Bill last year – the unemployment rate would now be under 7%.

Citizens should consider what Obama inherited and what he has accomplished, without any Republican support, to turn our economy around before they cast their votes in November.

Redneck Convert (R--and proud of it)

October 15th, 2012
3:47 pm

Well, last weekend there wasn’t hardly a stub to be found around the tee areas at Countryland Golf Club. So who you going to beleive, a bunch of lyin’ politicans or the never-fail Golf Tee Indicator? Somebody’s pulling unemployment numbers out of their south end. When good times really come around, you won’t even need to stick a golf tee in your pocket to play a round.

Kamchak ~ Thug from the Steppes

October 15th, 2012
3:48 pm

Career jobs have been declining for the past generation and anyone who suggests otherwise is smoking weed.

Smirkin' Joe

October 15th, 2012
3:48 pm

“So we can hear Republican pundits claim “as a Romney victory becomes more likely, the business community and consumers respond with spending and investment, leading to positive outcomes in blah blah blah….”

Funny, I can hear Democratic pundits claim we need to “stay the course with President Obama because a month or two of better-than-expected economic data proves he is leading us to the “promised land” and blah, blah, blah…

Smirkin' Joe

October 15th, 2012
3:50 pm

“Career jobs have been declining for the past generation and anyone who suggests otherwise is smoking weed.”

Not intended to be an instance of self-defeating irony (but one nonetheless).

moonbat betty

October 15th, 2012
3:50 pm

“No betty, I would not wish you harm. Think of The Wizard of Oz as a cautionary tale for one such as you.”

Are you one of those flying monkeys, Kam?

AmericaShrugged

October 15th, 2012
3:50 pm

That’s great news Jay! Wanna buy my house for what I paid for it three years ago at the begining of this administration? How about taking my 401(k) off my hands for what it was worth three years ago?
This keeps up we might hit 2% GDP growth for the year.

EJ Moosa

October 15th, 2012
3:50 pm

“So Moosa, are you arguing that data NOT seasonally adjusted is somehow more accurate and predictive?

Really?”

Apples to apples is the best comparison. If you are willing to compare The unadjusted numbers from last September and this September and tell us that they indicate things are getting better then by all means do so.

You do not know what seasonal adjustments are being made and neither do I.

Tell us what things in your everyday life are seasonally adjusted. The groceries you buy? What about the gas? Your paycheck?

Do you think there is a proven list of seasonal adjustments? If so we would not have all the major revisions in numbers each time we turn around would we?

So as I stated, before you swallow the bait, look at some other data.

If the economy was doing well, do you really think you would need to tell anyone? Do you really think you would need to rely on seasonally adjusted numbers to confirm things?

Rational individuals would say no.

Seasonal adjustments are easily tweaked to come to the desired results.

Can’t do that with the non-seasonally adjusted data.

Kamchak ~ Thug from the Steppes

October 15th, 2012
3:51 pm

Funny, I heard Republican pundits claim the smoking gun is the mushroom cloud, the Iraq invasion will pay for itself, we will be greeted as liberators and blah, blah, blah….

mm

October 15th, 2012
3:51 pm

And the cons boo and hiss.

Smirkin' Joe

October 15th, 2012
3:52 pm

“Last week Paul Krugman wrote that – if Republicans had not opposed President Obama’s Jobs Bill last year – the unemployment rate would now be under 7%.”

Ah, yes…the “gospel” according to Krugman. You do know, ME, there are other economists besides him?

http://dailycaller.com/2012/08/20/more-than-500-economists-5-nobel-laureates-back-romneys-economic-strategy/

Smirkin' Joe

October 15th, 2012
3:53 pm

“Are you one of those flying monkeys, Kam?”

No…he is tree bound.

mm

October 15th, 2012
3:53 pm

“That’s great news Jay! Wanna buy my house for what I paid for it three years ago at the begining of this administration? ”

Sorry Shrugged, the housing collapse started in 2007. But you cons have selective memory.

Regnad Kcin

October 15th, 2012
3:55 pm

Sm. Joe – I guessin’ your a half-empty kind of guy. I know that I would feel better about my chances of fining my “dream job” would be better when the economy is adding jobs, rather than the reverse.

You work so hard to convince yourself that is not true. I wonder why?

Mr. Snarky

October 15th, 2012
3:55 pm

Americashrugged, you should get a new broker.

Janney

October 15th, 2012
3:55 pm

Funny, my house is worth about the same as it was three years ago, but is waaay down from what it was worth in 2007. My 401(k) is in the best shape ever, since also taking a nose dive in 2007.

Steve-USA

October 15th, 2012
3:55 pm

AmericaShrugged – “That’s great news Jay! Wanna buy my house for what I paid for it three years ago at the begining of this administration? How about taking my 401(k) off my hands for what it was worth three years ago?”

Didn’t panic and sell my stocks so that portfolio and the 401(K) have all rebounded nicely. I can’t say the same about the value of my home that I bought in 2003.

Lord Help Us

October 15th, 2012
3:55 pm

Ol’ shrugs is lookin for a handout…taker…

Rightwing Troll

October 15th, 2012
3:56 pm

“Jay, your thoughts as to how much impact this data may have in the remaining days before Nov 6?”

Well, to the bat shiite crazy wingnuts, it’ll mean they dig in their heels… they’ve come too far, told too many lies, and ginned up the base too much, to go all warm and fuzzies over some more good economic news… they’ve working they little (angry) buns off trying to keep the economy down, time to double down…

stands for decibels

October 15th, 2012
3:56 pm

Ah, yes…the “gospel” according to Krugman.

Actually, Butthurt-From-the-Debate Guy, that figure came from the Wall Street Journal’s analyst some months ago.

http://blogs.wsj.com/economics/2012/05/08/unemployment-rate-without-government-cuts-7-1/

Marty Huggins'

October 15th, 2012
3:57 pm

http://www.gallup.com/poll/112723/gallup-daily-us-consumer-spending.aspx
What consumers spend day to day is down

http://www.tradingeconomics.com/united-states/gdp-growth
GDP is well below historic averages and has fallen for the last 2 months.

Morality?

October 15th, 2012
3:57 pm

Coincidence that all this “positive” economic data comes from the gub’ment just in time for early voting? I would argue that this data is supporting an economy that is flat at best. There will be month to month fluctuations based on the time of year. Summer months are always slower than say October.
And December (Christmas) should be better than October. How much better is this October compared to October a year ago? Up slightly is just not good enough when the Fed debt has been increased by $6,000,000,000,000 during the Obama regime.

Marty Huggins'

October 15th, 2012
3:59 pm

Rightwing Troll

October 15th, 2012
3:59 pm

“AmericaShrugged – “That’s great news Jay! Wanna buy my house for what I paid for it three years ago at the begining of this administration? How about taking my 401(k) off my hands for what it was worth three years ago?””

Whos the dumba$$ who paid top dollar for a house during the worst, bottomed out real estate market ever??? You can thank W for the market, but you need to look in the mirror for who did this to you, take some personal responsibility and quit begging for handouts… moocher…

Jay

October 15th, 2012
3:59 pm

“How about taking my 401(k) off my hands for what it was worth three years ago?”

Well, Shrugged, since the Dow Jones average is up 34.4 percent from what it was three years ago, you must be a TERRIBLE investor to have lost money in that time frame.

For that, you want to blame Obama?

Regnad Kcin

October 15th, 2012
3:59 pm

“Coincidence that all this “positive” economic data comes from the gub’ment just in time for early voting?”

Yup!!

I f you’re suggesting a conspiracy, you’re gonn need to show some links. Otherwise, what are you getting at?

Paul

October 15th, 2012
4:00 pm

Smirkin’ Joe

“Funny, I can hear Democratic pundits claim we need to “stay the course with President Obama because a month or two of better-than-expected economic data…”

Stock market doubled. Personal portfolios past where they were before the recession. Corporate profits at record highs. CEO pay at record highs. From hundreds of thousands of jobs lost each month to positive job growth for years.

Data isn’t your strong suit, is it?

Rightwing Troll

October 15th, 2012
4:01 pm

Neither is truthiness…

Morality?

October 15th, 2012
4:01 pm

So Obama has bought a flat economy for $6,000,000,000,000? Jay how much is that per Obama “created” job? My calculator shut down when I tried to figure it. Absolutely went on strike!

Moon Mullins

October 15th, 2012
4:02 pm

Well, Jay can say whatever he wants to say, but I’m not believing this crap until I hear it from the nicotine stained lips of Rush Limbaugh and get a second opinion from Hannity because you can always get righteous informations from these ol’ boys. None of this partisan B.S.

EJ Moosa

October 15th, 2012
4:03 pm

“I f you’re suggesting a conspiracy, you’re gonn need to show some links.”

We can wait for the adjustments to all this date during the 12 months after the election.

And they will be coming.

Regnad Kcin

October 15th, 2012
4:04 pm

Morality?

October 15th, 2012
4:01 pm
So Obama has bought a flat economy for $6,000,000,000,000? Jay how much is that per Obama “created” job? My calculator shut down when I tried to figure it. Absolutely went on strike!
==============
Morality? – Maybe your calculator can figure out how much Bush paid for each “negative job” he created?

Morality?

October 15th, 2012
4:04 pm

Sales are up a whopping 1 % – happy days are here again! What’s a 1 % increase in a depressed economy? Well at least it wasn’t a 1% drop in sales – that would have surely created world wide depression – I mean with such a big sudden change – being 1 % and all?????

Paul

October 15th, 2012
4:05 pm

Morality?

“So Obama has bought a flat economy ”

You have a cite demonstrating economic growth has been flat under Pres Obama?

Smirkin' Joe

October 15th, 2012
4:06 pm

“Stock market doubled.”

And how was it doing in the late 20’s (to name but one instance in time)?

“Personal portfolios past where they were before the recession.”

Whose exactly? Huh?

“Corporate profits at record highs. CEO pay at record highs.”

And yet relatively little job creation.

“From hundreds of thousands of jobs lost each month to positive job growth for years.”

Basically a net zero gain. You do understand what an unemployment rate is, correct?

“Data isn’t your strong suit, is it?”

Well..it sure isn’t yours.

Wild Eyes

October 15th, 2012
4:06 pm

Jay questions:

1. What would the deficit be if Obama didn’t put the wars on the books?

2. How does Medicare Part D cost?

Thanks

indigo

October 15th, 2012
4:07 pm

It looks as though the economy is making a slow, gradual recovery.

Look for the Democrats to hail this news as the greatest thing that’s happened in the last 50 years.

Look for the Republicans to say it’s all just a pack of liberal lies.

Which of the above do you think the average American voter will believe?

(hint – think “dumbed down”

Rightwing Troll

October 15th, 2012
4:08 pm

“Look for the Democrats to hail this news as the greatest thing that’s happened in the last 50 years.”

Nope… just the last 6…

Lord Help Us

October 15th, 2012
4:09 pm

‘So Obama has bought a flat economy for $6,000,000,000,000?’

Dude, seriously…use your calculator to add the total of Bush tax cuts over 11 years…+ two unfunded and horribly mismanaged wars…+ a huge new unfunded entitlement program…+ the worst economic catastrophe since the great depression.

Once you add that up, tell me how much of it Obama is responsible for…

Morality?

October 15th, 2012
4:09 pm

Retthie – That would be hard to do since Congress was controlled by the Dems…… and the President , back then, didn’t make ( or ignore) laws on the books – unlike today. I wasn’t real happy with “W” and can say I never voted for him – he didn’t know how to veto Congress’s big spending spree.

Redneck Convert (R--and proud of it)

October 15th, 2012
4:09 pm

Well, tell that guy that lost money in his 401k to invest big-time in beer stocks. Beer—it’s always going up. People drink it to drown their sorrows and they drink it to sellabrate. Heck, they even drink it when they’re thirsty.

Michael

October 15th, 2012
4:10 pm

In related news the Nobel committee has awarded the Nobel prize in economics to the democratic presidents who served since 1928. This award recognizes the increase in the value of Publicly traded companies during that period as measured by the Dow Jones Industrial Average. The individual contributions were: Roosevelt/Truman – +230; Kennedy/Johnson – +280; Carter – 0; Clinton – +7,600; Obama – +5,400. Total – +13,510. The techniques employed by these presidents included reasonable financial regulations and use of Keynesian economics to stimulate growth during times of weak private demand.
The comparison was drawn to the changes in the value of publicly traded companies during the terms of republican presidents since 1928. Hoover – -260; Eisenhower – +370; Nixon/Ford – +20; Reagan/Bush1 – +2,350; Bush2 – -2,900. Total – -160. The techniques employed by these presidents included financial deregulation, and supply side economics.
In view of the final score of +13,510 to -160 the committee awarded this prize by acclamation.

Rightwing Troll

October 15th, 2012
4:10 pm

“Dude, seriously…use your calculator to add the total of Bush tax cuts over 11 years…+ two unfunded and horribly mismanaged wars…+ a huge new unfunded entitlement program…+ the worst economic catastrophe since the great depression.

Once you add that up, tell me how much of it Obama is responsible for…”

The only answer you’ll get from a wingnut will be: 1000% of it…

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

October 15th, 2012
4:11 pm

JAY,

BS on your 3:27…your suggesting that those currently unemployed or underemployed are excited about 3.8 billion jobs none of which they possess? Help me understand that logic..

Is this part of BS team BO is trying to sell that the country being better off translates to these folks being better off?

WOW, a total of 125k net jobs..woooo hooo..

http://www.bloomberg.com/news/2012-09-27/payroll-revisions-signal-economy-has-created-jobs-under-obama.html

East Cobb RINO, Inc. (LLC)

October 15th, 2012
4:11 pm

Jay you have to use the Sir Charles Barkley “Turribile” instead of terrible to really emphasize it. As in “Turrible, that’s just turrible investing”.

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

October 15th, 2012
4:14 pm

RIGHTWING TROLL

Here’s an answer you may not like about deficits…

Both are answerable…of course, BO has done zero to stem the flow..
http://www.bloomberg.com/news/2012-09-27/payroll-revisions-signal-economy-has-created-jobs-under-obama.html

Morality?

October 15th, 2012
4:14 pm

NEWS FLASH : All wars are unfunded – at least Vietnam on was. That one was on the Dems watch – namely LBJ. Paul – I did not mean to give Obama so much credit by stating his economy was flat.. Sorry. Recent stats say that the economy has been flat in recent months -real recent real flat.

AmericaShrugged

October 15th, 2012
4:16 pm

Rightwing – Late 2009 looked like a housing bottom, down 15% or so from 2007 and the Pres baited me with that $8000 credit. If I could have foreseen the recovery you’re talking about would be so strong that my house value would drop another 15% even with interest rates dropping to around 3.5% I would have told them to keep that $8000! ATL market went down a little later than most of the country and has been a lot slowe rto recover as most of you know, probably due to Gov Deal I’m sure!
Point is, news the last few weeks has been good, but the last 3 1/2 years of Obama have not.

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

October 15th, 2012
4:17 pm

Paul

October 15th, 2012
4:17 pm

Smirkin Joe

“And how was it doing in the late 20’s”

[[What's 90 years back have to do with it?]]

“Personal portfolios past where they were before the recession.”

Whose exactly? Huh?

[[See Jay's 3:59. Then pay someone to manage your investments. Such as they may be.]]

“Corporate profits at record highs. CEO pay at record highs.”

And yet relatively little job creation.

[[Move those goalposts when you can't refute the data]]

“From hundreds of thousands of jobs lost each month to positive job growth for years.”

Basically a net zero gain. You do understand what an unemployment rate is, correct?

[[Now you're arguing you'd prefer 2.5 million jobs lost and no jobs added since the bottom. That's pathetic.]]

“Data isn’t your strong suit, is it?”

Well..it sure isn’t yours.

Just as you were with you previous monikers, you demonstrate no original thoughts, no ability to integrate multiple points into a conclusion, only the capability to stand back and make disparaging remarks. No solutions, only whining about what you see as problems.

I’d really like it if you could prove that last paragraph incorrect, but it appears it is simply beyond your ability.

getalife

October 15th, 2012
4:17 pm

Boom goes the economy and cons heads.

The gop are not in the way.

The October jobs report is going to be good.

Lord Help Us

October 15th, 2012
4:17 pm

‘Here’s an answer you may not like about deficits…’

Nothing in there about deficits…looks like a political spin article…

Mary Elizabeth

October 15th, 2012
4:18 pm

Smirkin’ Joe, 3:52 pm

“Ah, yes…the ‘gospel’ according to Krugman. You do know, ME, there are other economists besides him?”
———————————————————————

Not any economists that I trust as much as I trust Krugman’s opinions. When Krugman stated – before any others had done so – WHY Republicans deliberately ran up the deficit in the 2000s and his ideas coincided with the very same reasons I had been thinking but had been reticent to post because they were controversial, I knew I could trust his thinking. And, I certainly would never trust anything the “Daily Caller” puts forth. I see that media outlet as a “propaganda machine” for the unsuspecting and unaware.

http://www.nytimes.com/2010/02/22/opinion/22krugman.html?scp=1&sq=Paul Krugman, The Bankruptcy Boys, 2/22/10&st=Search

Krugman’s last lines in the above link, from his Feb. 22, 2010 column, entitled “The Bankruptcy Boys”:

“Depriving the government of revenue, it turns out, wasn’t enough to push politicians into dismantling the welfare state. So now the de facto strategy is to oppose any responsible action until we are in the midst of a fiscal catastrophe. You read it here first.”

Morality?

October 15th, 2012
4:18 pm

1 % JUMP – let’s celebrate!!!! Just how high can 1 % jump? Like a LEAP – or maybe more like a baby step.

Lord Help Us

October 15th, 2012
4:19 pm

‘the Pres baited me with that $8000 credit.’

Now that’s funny!!

Smirkin' Joe

October 15th, 2012
4:19 pm

“Actually, Butthurt-From-the-Debate Guy, that figure came from the Wall Street Journal’s analyst some months ago.”

Actually, I am not “hurt” by the debate but just wanted to remind everyone that we have a 69 year child sitting as VP. And it is really amusing to see liberals pretend he that old Joe was NOT acting undignified and childishly (when even some pretty liberal media people have). But your “touchy” response suggests either my moniker or post (or both) touched a nerve.

As for the WSJ article to which you linked, are you suggesting that Klugman plagiarized it? In any event, even the HP has enough sense to recognize the disclaimer in the article:

To be sure, playing the numbers game with jobs data is a tricky business. If the government hadn’t cut jobs, the WSJ points out, then fewer people would’ve left the workforce, pushing up the share of people actively searching for work. So maybe the rate wouldn’t have dropped.

Regnad Kcin

October 15th, 2012
4:19 pm

” the Pres baited me with that $8000 credit.”

Man up and take responsibility for yourself, dude!

Pretty sad…

Smirkin' Joe

October 15th, 2012
4:20 pm

“Not any economists that I trust as much as I trust Krugman’s opinions…And, I certainly would never trust anything the “Daily Caller” puts forth. I see that media outlet as a “propaganda machine” for the unsuspecting and unaware.”

The sand is right over there…

getalife

October 15th, 2012
4:21 pm

Thank you President Obama for saving our economy from the bush recession.

You earned and deserve my vote.

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

October 15th, 2012
4:22 pm

MARY ELIZABETH

Krugman is way too biased to put as much faith are you are putting in him…he is a complete liberal rube…I like reading him but it’s best to balance with other economists…he started a liberal and he works for the most liberal, biased newspaper in the history of newspapers..

Morality?

October 15th, 2012
4:22 pm

When I get a 1 % pay raise I am going to go out and pay off my mortgage. Well maybe I can get a Kiddie Meal at Burger King. Looky here I got me a toy Obama bobble head with my meal.