More on the economy

Guest Mon Jun 09, 2008 6:45 pm

No comments needed from any of us on this thread .. just read the article and think about it.

http://caffertyfile.blogs.cnn.com/2008/06/09/mccain-fundamentals-of-economy-%e2%80%9cvery-strong%e2%80%9d/

Canuck Mon Jun 09, 2008 7:02 pm

LOL, as the Canadian here, I am gonna go make a contribution to McCain at the fundraiser at the Ritz in Virginia.

Markwes Mon Jun 09, 2008 8:22 pm

I have read it and thought about it Bman, and I think McCain is right. Here are same of Happy Jack Cafferty's statements:

"A new CNN/Opinion Research Corporation poll shows 78% of those surveyed rate economic conditions as “poor”. "That's because to most Americans, the "economy" is the same thing as the stock market. Even those who are doing fine see the grim reports from gloom and doom newscasters about how bad stocks are doing and equate that with a bad economy.

"The unemployment jumped to 5.5% last month – that’s the biggest increase in the unemployment rate in 22 years."Everybody panic! Unemployment jumped to 5.5%! Notice the spin-driven wording there - "the biggest increase in 22 years". If the rate would have been 1% last month and jumped to 2%, he could have said "the biggest increase ever". Check out this site for historical data. 5.5% looks pretty good.
http://www.miseryindex.us/urbymonth.asp

"More and more Americans are losing their homes: one million homes are now in foreclosure."It seems we have been down this road in the world of discussion threads before. We all know the story of banks being overly generous and home buyers being overly greedy after the dotcom boom, so I won't get into that again.

"Then there are the rising costs of energy."
Well, yeah we know the cost of gas is way up. That's one commodity. I'm not going to call the economy 'good' or 'bad' based on that.

"And, with the nation on the brink of recession, the stock market is taking a hit too – declining almost 400 points last Friday alone."See my first point. If I decide buy a bunch of gold and then the price of gold goes way down, it's bad for me and good for you as a buyer. The stock market has winners and losers no matter what the share price.

Guest Mon Jun 09, 2008 10:07 pm

Markwes wrote:I have read it and thought about it Bman, and I think McCain is right. Here are same of Happy Jack Cafferty's statements:

"A new CNN/Opinion Research Corporation poll shows 78% of those surveyed rate economic conditions as “poor”. "That's because to most Americans, the "economy" is the same thing as the stock market. Even those who are doing fine see the grim reports from gloom and doom newscasters about how bad stocks are doing and equate that with a bad economy.

"The unemployment jumped to 5.5% last month – that’s the biggest increase in the unemployment rate in 22 years."Everybody panic! Unemployment jumped to 5.5%! Notice the spin-driven wording there - "the biggest increase in 22 years". If the rate would have been 1% last month and jumped to 2%, he could have said "the biggest increase ever". Check out this site for historical data. 5.5% looks pretty good.
http://www.miseryindex.us/urbymonth.asp

"More and more Americans are losing their homes: one million homes are now in foreclosure."It seems we have been down this road in the world of discussion threads before. We all know the story of banks being overly generous and home buyers being overly greedy after the dotcom boom, so I won't get into that again.

"Then there are the rising costs of energy."
Well, yeah we know the cost of gas is way up. That's one commodity. I'm not going to call the economy 'good' or 'bad' based on that.

"And, with the nation on the brink of recession, the stock market is taking a hit too – declining almost 400 points last Friday alone."See my first point. If I decide buy a bunch of gold and then the price of gold goes way down, it's bad for me and good for you as a buyer. The stock market has winners and losers no matter what the share price.

Mark I disagree that most americans view the economy as the stock market, I think that is a total wrong assumption. I would hazard a guess most americans view the economy in terms of GAS PRICES, GROCERY PRICES, PRESCRIPTION PRICES, PLUMMETING HOME PRICES, CREDIT CARD DEBT ... But I guess we disagree.

moondrop Tue Jun 10, 2008 9:30 am

Bman wrote:
Markwes wrote:I have read it and thought about it Bman, and I think McCain is right. Here are same of Happy Jack Cafferty's statements:

"A new CNN/Opinion Research Corporation poll shows 78% of those surveyed rate economic conditions as “poor”. "That's because to most Americans, the "economy" is the same thing as the stock market. Even those who are doing fine see the grim reports from gloom and doom newscasters about how bad stocks are doing and equate that with a bad economy.

"The unemployment jumped to 5.5% last month – that’s the biggest increase in the unemployment rate in 22 years."Everybody panic! Unemployment jumped to 5.5%! Notice the spin-driven wording there - "the biggest increase in 22 years". If the rate would have been 1% last month and jumped to 2%, he could have said "the biggest increase ever". Check out this site for historical data. 5.5% looks pretty good.
http://www.miseryindex.us/urbymonth.asp

"More and more Americans are losing their homes: one million homes are now in foreclosure."It seems we have been down this road in the world of discussion threads before. We all know the story of banks being overly generous and home buyers being overly greedy after the dotcom boom, so I won't get into that again.

"Then there are the rising costs of energy."
Well, yeah we know the cost of gas is way up. That's one commodity. I'm not going to call the economy 'good' or 'bad' based on that.

"And, with the nation on the brink of recession, the stock market is taking a hit too – declining almost 400 points last Friday alone."See my first point. If I decide buy a bunch of gold and then the price of gold goes way down, it's bad for me and good for you as a buyer. The stock market has winners and losers no matter what the share price.

Mark I disagree that most americans view the economy as the stock market, I think that is a total wrong assumption. I would hazard a guess most americans view the economy in terms of GAS PRICES, GROCERY PRICES, PRESCRIPTION PRICES, PLUMMETING HOME PRICES, CREDIT CARD DEBT ... But I guess we disagree.

I agree with You Bman. Smile

LTRT Tue Jun 10, 2008 10:38 am

Humm....

Posted on Tue June 10, 2008
Summer employment steady for city

By Kimberly Peterson
The Journal Gazette
Employers in Fort Wayne expect to keep staffing steady between July and September while more than a third of companies in Warsaw plan to hire, according to a quarterly employment outlook survey.

The Manpower Employment Outlook Survey for the third quarter showed that 97 percent of companies interviewed in Fort Wayne expect to maintain their current staffing levels. No companies interviewed intend to cut jobs, and 3 percent intend to hire, the survey said.

Jessica Farrell, a Fort Wayne-based Manpower spokeswoman, said the outlook shows there will not be an increase in available positions, but jobs are currently available.

“There are job opportunities out there,” Farrell said.

The survey’s release comes just days after the U.S. Department of Labor’s May unemployment report showed employers eliminated 49,000 jobs nationwide in May, the fifth straight month of losses. Friday’s report put the nation’s unemployment rate at 5.5 percent, up from 5 percent in April – the biggest one-month jump since 1986.

Warsaw has a much rosier outlook for the third quarter, with 38 percent of companies interviewed planning to hire and none expecting to cut jobs.

“Hiring activity (in Warsaw) is expected to be stronger than one year ago, when 20 percent of companies surveyed planned to increase staff levels and none expected to cut payrolls,” Bev Holmquist, a Manpower spokeswoman based in Wabash, said in a statement.

Because the Warsaw area is home to orthopedic and other types of manufacturing, Holmquist said it is not facing the same difficulties as regions that have large housing- or automotive-related industries.

“I think the big key here is (the companies) are not tied to the automotive industry,” Holmquist said.

Manpower Inc. has conducted a quarterly Employment Outlook Survey for more than 45 years. Results are based on a survey of more than 14,000 public and private employers in 460 markets across the country.

kpeterson@jg.net

Markwes Tue Jun 10, 2008 10:52 am

Bman wrote:Mark I disagree that most americans view the economy as the stock market, I think that is a total wrong assumption. I would hazard a guess most americans view the economy in terms of GAS PRICES, GROCERY PRICES, PRESCRIPTION PRICES, PLUMMETING HOME PRICES, CREDIT CARD DEBT ... But I guess we disagree.

So, is that your "proof" that the economy is bad - because 78% of Americans say so? I still stand by that view because I do it myself. As soon as I hear "The Dow Jones took another big hit today", in my mind I equate it with the state of the economy. Higher prices are normally associated with a booming economy - spending increases = higher prices. So that theory doesn't work either.

Guest Tue Jun 10, 2008 11:13 am

Markwes wrote:I have read it and thought about it Bman, and I think McCain is right. Here are same of Happy Jack Cafferty's statements:

"A new CNN/Opinion Research Corporation poll shows 78% of those surveyed rate economic conditions as “poor”. "That's because to most Americans, the "economy" is the same thing as the stock market. Even those who are doing fine see the grim reports from gloom and doom newscasters about how bad stocks are doing and equate that with a bad economy.

"The unemployment jumped to 5.5% last month – that’s the biggest increase in the unemployment rate in 22 years."Everybody panic! Unemployment jumped to 5.5%! Notice the spin-driven wording there - "the biggest increase in 22 years". If the rate would have been 1% last month and jumped to 2%, he could have said "the biggest increase ever". Check out this site for historical data. 5.5% looks pretty good.
http://www.miseryindex.us/urbymonth.asp

"More and more Americans are losing their homes: one million homes are now in foreclosure."It seems we have been down this road in the world of discussion threads before. We all know the story of banks being overly generous and home buyers being overly greedy after the dotcom boom, so I won't get into that again.

"Then there are the rising costs of energy."
Well, yeah we know the cost of gas is way up. That's one commodity. I'm not going to call the economy 'good' or 'bad' based on that.

"And, with the nation on the brink of recession, the stock market is taking a hit too – declining almost 400 points last Friday alone."See my first point. If I decide buy a bunch of gold and then the price of gold goes way down, it's bad for me and good for you as a buyer. The stock market has winners and losers no matter what the share price.

Good post Mark..

btw.. I'm making money in the market right now.. and I'm no where near what I'd consider a great trader.

Markwes Fri Jun 13, 2008 5:41 pm

This sure sounds a lot like I have been saying all along. Could things not be all that gloomy as the politicians say after all?

http://online.wsj.com/article/SB121331500809069989.html?mod=opinion_main_commentaries?fark

iberlingirl Fri Jun 13, 2008 7:56 pm

view the economy in terms of GAS PRICES, GROCERY PRICES, PRESCRIPTION PRICES, PLUMMETING HOME PRICES, CREDIT CARD DEBT

Agree, this would be my view, and some other things, of which the stock market is not one of them.

Guest Mon Jun 16, 2008 9:25 am

Markwes wrote:This sure sounds a lot like I have been saying all along. Could things not be all that gloomy as the politicians say after all?

http://online.wsj.com/article/SB121331500809069989.html?mod=opinion_main_commentaries?fark

Quit using the WSJ.. no one wants unbiased news reporting here... lol

floridafun Mon Jun 16, 2008 10:33 am

iberlingirl wrote:view the economy in terms of GAS PRICES, GROCERY PRICES, PRESCRIPTION PRICES, PLUMMETING HOME PRICES, CREDIT CARD DEBT

Agree, this would be my view, and some other things, of which the stock market is not one of them.

i agree!

Guest Mon Jun 16, 2008 11:10 am

iberlingirl wrote:view the economy in terms of GAS PRICES, GROCERY PRICES, PRESCRIPTION PRICES, PLUMMETING HOME PRICES, CREDIT CARD DEBT

Agree, this would be my view, and some other things, of which the stock market is not one of them.

This is my general opinion of the economy... the real "economists" would probably say I don't understand the "economy"

Markwes Mon Jun 16, 2008 11:47 am

meta4 wrote:
iberlingirl wrote:view the economy in terms of GAS PRICES, GROCERY PRICES, PRESCRIPTION PRICES, PLUMMETING HOME PRICES, CREDIT CARD DEBT

Agree, this would be my view, and some other things, of which the stock market is not one of them.

This is my general opinion of the economy... the real "economists" would probably say I don't understand the "economy"

But still, even with these parameters other than gas prices which we see everyday, I imagine you rely on external sources to get this view. I mean, is there a "grocery price index", "prescription price index", etc., or are you just going by what a politician or newscaster says?

Guest Mon Jun 16, 2008 3:39 pm

THE economy and YOUR economy are two different things.

Guest Mon Jun 16, 2008 3:49 pm

Markwes wrote:
meta4 wrote:
iberlingirl wrote:view the economy in terms of GAS PRICES, GROCERY PRICES, PRESCRIPTION PRICES, PLUMMETING HOME PRICES, CREDIT CARD DEBT

Agree, this would be my view, and some other things, of which the stock market is not one of them.

This is my general opinion of the economy... the real "economists" would probably say I don't understand the "economy"
But still, even with these parameters other than gas prices which we see everyday, I imagine you rely on external sources to get this view. I mean, is there a "grocery price index", "prescription price index", etc., or are you just going by what a politician or newscaster says?

I think I catch your drift. I think that everyone must form an opinion on what they believe the status of THE economy is...

It's simply too much information for any one mind to hold. Every opinion or perspective of the economy is abstract.

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