Thanks to Obama Policies, DOW is up 8,000 points from Bush debacle

[Edgetho]

What's gonna happen when that stops?

The economy will be on a firm footing after the Bush/Republican debacle - and will continue to grow.

You mean the one when Congress was occupied by dimocrap scum?

You mean the one where Bawney Fwank told the American People that Fannie and Freddie were financially sound just days before they went belly up?

[ame=http://www.youtube.com/watch?feature=player_detailpage&v=BC88oox9TBo]Barney Frank Freddie Fannie Flip - YouTube[/ame]

How about the one where he says, "What housing bubble?"

[ame=http://www.youtube.com/watch?feature=player_detailpage&v=iW5qKYfqALE]Barney Frank in 2005: What Housing Bubble? - YouTube[/ame]

You mean the one where it was discovered that Bawney Fwank's butthole buddy, his homo, live in boyfriend, was was an Executive at Fannie that led the charge to de-regulate lending standards that led to the Financial meltdown.

Do you mean the recession where the Stuttering Clusterfukk was a lead Attorney for the now criminally banned and dissolved ACORN that sued Citi Bank and got the Judgement that started the CRA-based lending that led to the relaxed Fannie and Freddie lending standards that caused the Finanical meltdown?

You mean the one where Client #9 (Eliot Spits-Her) went after Hank Greenberg at AIG in such a manner as to put morons in charge of the new Financial Instrument called Credit Default Swaps that got misused and helped to cause the crisis to worsen after the Financial Meltdown.

Bush just happened to be in Office when the Financial Meltdown happened.

That's like blaming the QB for a loss when the team Bus drove off a cliff on the way to the game.

You are a troll and a scumbag, an idiot and a liar.

 

[birddog]

It's basically because of the Sequester. And it isn't a good thing.

why? your tour of the WH won't happen?




the deficit is clocking 759 Bn right now......from the original 1 trillion estimate...

Why?

Because education programs and programs that provide kids with meals are getting defunded. It's also defunding research and science programs. I just talked to my friend from the WHOI and he told me that the sequester is causing vital cuts to their many projects that are checking into the effects of pollution on the sea.

That and it puts the kibosh on government hiring and is forcing furloughs, in addition to killing economic activity due to deferment of government projects.

It's bad all around.

Since the Sequester was Obama's idea in the first place, we can say "It's Obama's fault!"

 

[Trajan]

meanwhile, back in reality....

August 16, 2013, 10:09 AM

Economists cut their expectations for 2013 U.S. economic growth but lifted hiring forecasts for the rest of the year, according to a survey of forecasts released Friday.

The third-quarter survey of 41 forecasters done by the Federal Reserve Bank of Philadelphia shows the consensus view on gross domestic product expects growth of 1.5% for all of this year, down significantly from 2.0% expected when the survey was last done in May.

and lets remember these are the same blokes who this time last year, forecast 2.7% for q4 of 2012, it came in at- .1...thats POINT 1% as in one tenth......
q1 2013?- 1.8% downgraded by a full third to 1.3%.....q2 2013?- 1.7%....

OK, a few points here. The Philly Fed survey is of econometric forecasting firms, not individual economists. In another string a poster made some snide remarks about economists in ivory towers who are not accountable for their "ideas". If you don't think forecasting firms live and die by their track records, I have a bridge you should be interested in.

Back in the early sixties an econometrician promulgated Fiedler's Four Rules of Forecasting:

1. It's very difficult to predict, especially the future.
2. Every time you make a prediction, you know you are wrong. You just don't know in which direction.
3. He who lives by the crystal ball learns to eat ground glass.
4. If you ever hit it on the button, never let them forget it!

Quarter-by-quarter forecasting is incredibly volatile and often wrong, but it's the best that can be done with the state of the art. They really try to get it right, and if anybody can do it better I am sure they will gain market share fast.

A large part of the problem is that there are lags between when things happen and when we find out they happen. This was most painfully apparent in early 2009 when the economy was tanking far faster than anyone thought even possible. The whole "with stimulus the unemployment rate will top out at only 8%" debacle was the result. Forecasters have to guess what is happening that they don't even know about and assume that players are going to do what they traditionally have done in similar circumstances. If you were a forecaster today, would you assume that the debt ceiling will be raised or not? It makes a difference. Fiedler's crystal ball seems like good imagery.

So don't read too much into these results and certainly don't bet the farm on them.

I understand that......I do read into the net results after 2 quarters.....as to go forward, no of course not, the forecasts have been all over the place, as I said they were off by a third in one broadcast result....I will however, go out on a limb and say I think they have it more right than wrong, ala 1.5-7, certainly under 2.0% for the year....

 

[drivebymedia]

Good economic news spooks traders !

U.S. stocks fell for the week, giving the Dow Jones Industrial Average its biggest drop in a year, as company forecasts disappointed and economic data boosted speculation the Federal Reserve will reduce stimulus.



Dow Posts Biggest Weekly Drop in a Year on Fed Concern - Bloomberg

 

[drivebymedia]

Obama policies recovered the economy from the Bush/Republican debacle:

Stocks have rallied as corporate earnings have topped estimates. Some 463 companies in the S&P 500 have reported quarterly results so far this earnings season. Among them, 72 percent have exceeded analysts’ profit estimates and 55 percent have beaten sales projections, data compiled by Bloomberg show.

 

[jknowgood]

Obama policies recovered the economy from the Bush/Republican debacle:

Stocks have rallied as corporate earnings have topped estimates. Some 463 companies in the S&P 500 have reported quarterly results so far this earnings season. Among them, 72 percent have exceeded analysts’ profit estimates and 55 percent have beaten sales projections, data compiled by Bloomberg show.

Keep dreaming, i know it makes you feel better. The only thing obama has done is slow the recovery.

 

[Avorysuds]

Yay! The FED can stop dumping 80 billion a month on the markets!

 

[RandallFlagg]

Yay! The FED can stop dumping 80 billion a month on the markets!

Here would be the outcome of that.....


The shits gonna hit the fan - YouTube

 

[drivebymedia]

Waiting for a crash is the best the Right has to keep them going day-to-day.

They have a long, long wait for Godot!

 

[drivebymedia]

The same Republicans who were architects of the Two Worst Economic collapses in U.S. history ... suggest they are more qualified to fix their wreckage.

Of course ... did anyone ever question that?

 

[ba1614]

Once a million more get so discouraged they give up the numbers will really look good!!

 

[oldfart]

And the problem there is that policy tends to get establsihed off these forcasts. So I guess it should be extremely evident now why central planning is a terrible idea. Probably the worst idea some humans ever concocted.

You have it exactly backward. Centrally planned economies have no need for forecasting. Why forecast when you know what Gosplan calls for?

 

[asterism]

The same Republicans who were architects of the Two Worst Economic collapses in U.S. history ... suggest they are more qualified to fix their wreckage.

Of course ... did anyone ever question that?

While I disagree with the blame you put on one political party (and there certainly were not "the same Republicans" behind two events 80 years apart), it is the Democrats that promised to fix things.

5 years into your fix, how's it working out?

 

[oldfart]

I understand that......I do read into the net results after 2 quarters.....as to go forward, no of course not, the forecasts have been all over the place, as I said they were off by a third in one broadcast result....I will however, go out on a limb and say I think they have it more right than wrong, ala 1.5-7, certainly under 2.0% for the year....

Personally I take a hard look at the revisions. They give a pretty good idea of how the noise in the data is breaking. If we have two quarters where the numbers are revised downward, there is probably a bias to overstate in this series. Trend matters more that small changes in absolute numbers. I always read the footnotes, the weird stuff is usually there (it goes without saying that I read the report, not the press release or somebody's report of the press release). And it's always a good idea to have a benchmark to compare the data to, I an idea of what the number should be in a healthy economy.

 

[Dot Com]

Krugman is right again

 

[drivebymedia]

Jobless claims are the lowest since 2007, despite the 8 million low wage, unskilled jobs Bush & Republicans outsourced

 

[blackhawk]

I see the OP and reality are still not on speaking terms.

 

[eflatminor]

Krugman is right again

Riiight...because cutting tax rates ALWAYS results in less tax revenue. There's NEVER a stimulative effect on the economy, resulting in more revenue.



Idiot!

 

[Dont Taz Me Bro]

It's basically because of the Sequester. And it isn't a good thing.

Agreed. Sequester doesn't go nearly far enough.

 

[eflatminor]

It's basically because of the Sequester. And it isn't a good thing.

Agreed. Sequester doesn't go nearly far enough.

Here here! A slight decrease in the planned increase rate of spending...and the central planners throw a hissy fit. My goodness, how fiscally irresponsible can we be?