Article

2009-12-31 Economy

Economy Poised for Surge, Says 'Most Accurate' Forecaster

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Posted by Steve White 2009-12-31 00:00|| || Front Page|| [5 views ] Top

#1 I'm not an economist, but I strongly suspect that most of those who were unemployed when 0 was sworn into office will still be unemployed next year.

Posted by Anguper Hupomosing9418 2009-12-31 01:22|| 2009-12-31 01:22|| Front Page Top

#2 12% by Easter is my guess.

Posted by Besoeker 2009-12-31 01:58|| 2009-12-31 01:58|| Front Page Top

#3 Experts.

Posted by g(r)omgoru 2009-12-31 04:51|| 2009-12-31 04:51|| Front Page Top

#4 Sounds like someone is dangerously close to overdosing on the Hopium.

Posted by Cornsilk Blondie 2009-12-31 07:57|| 2009-12-31 07:57|| Front Page Top

#5 Good thing we're at 7.75% unemployment according to Obama administration forecasts. Can't wait for next Christmas when unemployment goes down to 6.9%.

Posted by ed 2009-12-31 08:10|| 2009-12-31 08:10|| Front Page Top

#6 Economic recovery is a matter of perception. When people believe that they will have/keep jobs they will borrow and spend. Or when they believe that their money will have no value in the future they will borrow and spend. Either way, the economy will improve - or appear to. The government will keep shoveling our money to banks until they will loan it to people to borrow and spend. And the government will hire people until the unemployment rate goes down. In the end we'll all work for the government and be dependent on our plantation masters for our subsistence.

Posted by Glenmore 2009-12-31 09:03|| 2009-12-31 09:03|| Front Page Top

#7 Public Sector Economy Poised for Surge, Says 'Most Accurate' Forecaster

Fixed it for you. Private Sector, not so good.

Posted by P2k on vacation 2009-12-31 09:44|| 2009-12-31 09:44|| Front Page Top

#8 It's just measuring the economy and failing the discount the growth in debt.

It has to be paid back AND the interest serviced.

Fiddle the inflation stats and then claim the economy is better off..

This sort of state lying is why only one person in 10 believes the govt in the U.K.

Posted by Bright Pebbles 2009-12-31 11:13|| 2009-12-31 11:13|| Front Page Top

#9 Either way, the economy will improve - or appear to. The government will keep shoveling our money to banks until they will loan it to people to borrow and spend. And the government will hire people until the unemployment rate goes down. In the end we'll all work for the government and be dependent on our plantation masters for our subsistence.

The government of both parties have been cooking the books since at least the Carter years.

I have a theory about the Obamanation:

These guys for all their gold plated academic pedigrees don't really know what they are doing.

They all grew up in the hyper bright glow of the fantasy that FDR saved the nation with the New Deal, and they read about the the budget busting that went on.

The fact is FDR hired a buncha leftist writers to give them employment/income, and they paid him back with fawning and false stories of government bravado in the face of evil capitalists.

The guys who read this garbage, bought and paid for by FDR, to them it's an article of faith that the whole economy improves when government whips out the ol' plastic, regardless of actual conditions on the ground.

It's like a three year old who watches his father get into a fight with company thugs in a labor action.

The three year old only knows what he's been told, so when he grows up, he's gonna be ready to deliver the trimmin' his Daddy suffered.

There's no context for them. There's no there there. There's only what they are told and that is all.

They read about the old times and they are gonna do the same things the forefathers did regardless or actual conditions come hell or high water.

If you owned a machine shop and a recently minted graduate from a university came calling looking for work, would you hire him, as smart as he may be? Chances are if you did within a day or two the new hire's nickname may as well be "Stumpy."

Welcome, if you will, Barak Hussein "Stumpy" Obama, a guy so smart he couldn't keep his hands out of the machinery and now he is as worthless as a leader as we have ever had.

The Upshot, is that these people really don't known what they are doing: Ideology prevents them from doing the things we all know will work and hubris prevents them from admitting that maybe they should try something else.

It's just a theory.

Posted by badanov 2009-12-31 11:45|| http://www.freefirezone.org 2009-12-31 11:45|| Front Page Top

#10 Isn't Business Week the old media dinosaur that fetched $1 when it went on the block this year?

Couldn't be that they've decided on stock-touting as a hail-mary strategy to increase readership, could it, now?

Consumer purchases improved after last year's 61 percent plunge in gasoline prices and will keep growing in 2010

um, price of crude's soon going to be back into the triple digits.

Also, most companies are using internal transfers to fill vacancies now, and, as always in US big-company capitalism, are using the downturn to relentlessly reduce their domestically-based payrolls and shift functions overseas.

Add the above to the fact that the REAL unemployment rate is north of 15% when you factor in the BLS's bogus baseline assumptions, the off-the-radar discouraged workers, and all the slack left to be filled due to unpaid furloughs, and there's no way that the unemployment rate will be below 12% nine months from now.

BW is a dying publication that has always served as the Democratic Party's #1 booster in the business press. Means, motive, opportunity for shameless BS'ing to support The One.

Posted by lex 2009-12-31 12:10|| 2009-12-31 12:10|| Front Page Top

#11 A U-3 rate of 9% (the U-3 is the rate the media usually quote)would imply about a 16% U-6 rate.

This doesn't seem unreasonable for the end of 2010. However, it hardly amounts to a surge and I think most people would consider it anemic. On the other hand, at 9%, the interest rates wouldn't climb very much.

Posted by lord garth 2009-12-31 13:53|| 2009-12-31 13:53|| Front Page Top

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