freeman2 wrote:If the economy is so bad why are people buying all these cars and why are sales of full-size pick-ups up 16% (an indicator that the housing industry is expected to pick up because construction crews buy a lot of full-size pickups)?http://autos.aol.com/article/strengthening-auto-industry-sales-point-to-u-s-economic-recover/

The number of Americans whom the U.S. Department of Labor counted as “not in the civilian labor force” in August hit a record high of 88,921,000.

The Labor Department counts a person as not in the civilian labor force if they are at least 16 years old, are not in the military or an institution such as a prison, mental hospital or nursing home, and have not actively looked for a job in the last four weeks. The department counts a person as in “the civilian labor force” if they are at least 16, are not in the military or an institution such as a prison, mental hospital or nursing home, and either do have a job or have actively looked for one in the last four weeks.

In July, there were 155,013,000 in the U.S. civilian labor force. In August that dropped to 154,645,000—meaning that on net 368,000 people simply dropped out of the labor force last month and did not even look for a job.

There were also 119,000 fewer Americans employed in August than there were in July. In July, according to the Bureau of Labor Statistics, there were 142,220,000 Americans working. But, in August, there were only 142,101,000 Americans working.

Meanwhile, Bernanke’s own statements often seem to suggest the gridlock between Obama and Congress is a problem. Yet he’s well aware that, before we had gridlock, Obama and the Democrats had free rein — and gave us nearly $1 trillion in stimulus spending that failed to stimulate, a business-draining new health-care mandate and a lame energy policy that has led to higher domestic fuel prices.
And the president is promising more of the same if he wins a second term.
The result: Economic growth below 2 percent, record numbers of people dropping out of the workforce and falling wages. Middle-class incomes have fallen to 1995 levels. In other words: signs that a double-dip recession of a significant magnitude is in the cards unless something is done.
But the only card Bernanke has left is printing money — that’s what “quantitative easing” means. The Fed does it by buying bonds from the big banks (in this case, $40 billion a month of mortgage bonds). That drives down interest rates, and the banks, flush with cash, are supposed to lend out the money to businesses so the economy grows.
But this is QE 3 — and the stunt didn’t do much the first two times. Maybe it kept things from getting worse, but nothing much has happened in terms of significant, sustained growth.
The problem: Many of the businesses that have the good credit to borrow more aren’t, because they’re afraid of what to expect from a president who almost brags about plans to raise their taxes, no matter how lousy the economy. And banks aren’t so quick to lend no matter how much the Fed pumps in for the same reason: They’re scared about what the future of Obamanomics has in store for them.
Yes, the stock market loves the move — the Dow Jones Industrial Average rose 200 points yesterday. But that’s only because Bernanke also signaled yesterday that he’ll continue to keep short-term interest at just about 0 percent — which keeps bond returns so low that investors are almost forced to buy stocks.
Bernanke is well aware of the consequences of printing money: commodity price inflation (higher oil and food prices) and a further debasing of our currency.

Neal Anderth wrote:They vote Libertarian!

Doctor Fate wrote:

Neal Anderth wrote:They vote Libertarian!

Not likely, but I would take anything over Obama--well, anything to the Right of him.

bbauska wrote:

Doctor Fate wrote:

Neal Anderth wrote:They vote Libertarian!

Not likely, but I would take anything over Obama--well, anything to the Right of him.

Who does that leave in the US?

WASHINGTON — Americans are growing more confident in the economy, an encouraging sign for President Barack Obama's prospects on the most pivotal issue in the presidential race.
A new survey of consumer confidence rose to a seven-month high Tuesday on expectations that hiring will soon pick up. And a separate report showed home values rising steadily, signaling sustained improvement in housing.
“This is like an opinion poll on the economy without the political parties attached,” said John Ryding, chief economist at RDQ Economics, a consulting firm. The confidence survey “says people are feeling better. If so, they are less likely to vote for change.”

Doctor Fate wrote:I would not be too sure about polling. Almost all the samples are more Democratic than the 2008 electorate. If you believe that's what 2012 looks like, go to Vegas.

geojanes wrote:Nice article with awesome charts shown how the recovery from the last two recessions have been very different:

http://www.businessinsider.com/obamas-first-term-and-bushs-first-term-2012-6

Almost all the samples are more Democratic than the 2008 electorate. If you believe that's what 2012 looks like, go to Vegas.