the largest and most technologically powerful economy in the world

[LibertyorDeath]

Produced 1000 new jobs in the month of DECEMBER.

When I first read about this I thought it must be a mistake to my horror it's not.



http://story.news.yahoo.com/news?tmpl=story&ncid=&e=5&u=/ap/20040110/ap_on_bi_st_ma_re/wall_street

[yorgatron]

1. i just heard that on NPR

sickening,isn't it? that would be a pathetic number for a SINGLE STATE,much less an ENTIRE COUNTRY!

[54anickel]

2. ARGGGGH! Reports like this are starting to really tick me off!! Sheesh!

Charles H. Blood Jr., senior financial markets analyst at Brown Brothers Harriman & Co. in New York, said, "the market took the employment report badly at the start."

He noted, however, that the jobs figures were at odds with other reports of economic expansion.

"Two months in a row like this would raise a real question," Blood said. "One month, you have to decide if it's telling the truth and the other ones are wrong, or visa versa."


If Charlie is this confused, perhaps he should look for a new line of work. He obviously does not deserve to Be a senior financial markets analyst.

Get a clue dude, your models using those reports of economic "expansion" do not work when that expansion was mainly the direct result of the incredible amount of debt. The consumer makes up two-thirds of the economy. They are spending debt, credit not earnings. That is what skews all of the projections.

The tradition way they measure unemployment is yet another problem. Yes, traditionally they have measured it by the CPS (household survey). They use this for comparison to previous data which is fine for that now "political" use. But we have been loosing jobs for an unprecedented amount of time now! Not 6 - 9 months but YEARS! To be honest, it even started before the the Shrubman took office.

NOTE: I don't want to get into that same old tired argument that is seen on DU about the UE data, if you are interested in how the measure, there's a good article here http://www.epinet.org/content.cfm/briefingpapers_bp148

But to get to a true understanding of today's economy and what's going on, they need to change the methods and models that they use. If they truly cared about wanting to actually attempt to understand and fix this fiasco, they must start to use some ingenuity. Look for some new models, new ideas. Sure keep the old ones as the control group but start working. Use that friggin education and try to figure this shit out!

See, they don't seem to care, it doesn't effect them personally - YET. While the rest of use go down the crapper, they are the floaters. But with the next flush or two they'll be on their way down that sewer pipe as well.

Wish these $$$heads would GET A FRIGGIN CLUE! :grr:

Feels good to rant once in a while! :hurts:

[pretzel4gore]

3. your rant does more

info wise, then them nitwits pontificating (boomin economy! SHure..) about 'the president's initiatives'
btw they don't even know bush isn't president? The guy LOST 2000 election...

[54anickel]

4. Thanks, One could go on forever on this BS. Wall Street is so removed

from Main Street. They just sit there waiting for their monthly data points, problem is they tale too long to connect the dots.

Like this guy,
"Two months in a row like this would raise a real question," Blood said. "One month, you have to decide if it's telling the truth and the other ones are wrong, or visa versa."

Sheesh, by the time he connect the dots, he'll be looking out the window from that high-rise office to see the US around him has become a 3rd world nation.

If every day you read the paper and see another layoff announcement, you keep seeing that UE continues to rise, month after month, year after year, along with credit - re-fis and consumer credit cards, and consumption is way up - it's pretty damn plain as the nose on your face where those consumers are getting the $$$. Connect the damn dots! Now this guys gotta wait for yet another month? Give me his friggin job! I don't have a degree in this stuff and even I can figure it out. :eyes:

[brokensymmetry]

5. But are we really that powerful?

The Japanese have neater electronic consumer products than we have. We owe a great deal to foreign creditors, including China and Japan. China has the world's first maglev train - we don't.

I think we may be like a guy that just got a credit card in the mail - we're acting as if we're rich, but we aren't really.