CDZ What facts have we about the state of the U.S. economy today?

[320 Years of History]

Jobs

​

Personal Income:

Personal income increased $71.6 billion (0.4 percent) in July according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $60.1 billion (0.4 percent) and personal consumption expenditures (PCE) increased $42.0 billion (0.3 percent).​

Gross Domestic Product:

Real gross domestic product increased at an annual rate of 1.1 percent in the second quarter of 2016, according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.8 percent.
​

Durable goods shipments, inventories and orders:

New orders for manufactured durable goods in July increased $9.7 billion or 4.4 percent to $228.9 billion.
​

New Residential Sales:

Sales of new single-family houses in July 2016 were at a seasonally adjusted annual rate of 654,000. The median sales price of new houses sold in July 2016 was $294,600; the average sales price was $355,800. The seasonally adjusted estimate of new houses for sale at the end of July was 233,000. This represents a supply of 4.3 months at the current sales rate.

• U.S. new homes sales hit eight-year high, point to firming economy

New Residential Construction:

Privately-owned housing starts in July 2016 were at a seasonally adjusted annual rate of 1,211,000.
July 2016: +2.1 % change
June 2016 (r): +5.1 % change
​

Manufacturing and Trade Inventories and Sales:

U.S. total business end-of-month inventories for June 2016 were $1,813.7 billion, up 0.2 percent from last month. U.S. total business sales were $1,307.8 billion, up 1.2 percent from last month.
​

Quarterly Financial Report - Manufacturing, Mining, Wholesale Trade, and Selected Service Industries:

Manufacturing corporations' seasonally adjusted after-tax profits were $122.3 billion for the first quarter of 2016, up $3.3 billion from fourth quarter of 2015.​

Consumer Price Index:

The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 0.8 percent before seasonal adjustment
​

Stock Market:

(click chart for source)

 

[BULLDOG]

Those facts don't line up with the right wing rhetoric that we are collapsing. I've had that same conversation with right wingers, and their response was that isn't what they see on their TV so your numbers must be fake.

 

[320 Years of History]

Those facts don't line up with the right wing rhetoric that we are collapsing. I've had that same conversation with right wingers, and their response was that isn't what they see on their TV so your numbers must be fake.

Well, I can't speak to why those aren't the facts that reporters and editorialists on their preferred TV programs, but they are the facts that appear on my computer screen when I go looking to see what the actual measures of the economy are.

 

[Holos]

How would you take the speeches of politicians as facts about the state of the U.S. economy today?

I just watched the President of the U.S.A. speaking at the 20th Lake Tahoe Summit for Environmental awareness.

 

[NCC1701]

here is a few more inconvenient facts, sorry to interrupt your little celebration

Federal reserve balance sheet as a percent GDP

Fed funds rate

 

[NCC1701]

every American needs to understand that we are in the middle of a massive new monetary experiment, if you believe in god then pray it works

 

[Holos]

every American needs to understand that we are in the middle of a massive new monetary experiment, if you believe in god then pray it works

How is that so?

The monetary system doesn't seem functioning to me by or through experiments and prayer doesn't seem to be given by or through chance.

 

[NCC1701]

every American needs to understand that we are in the middle of a massive new monetary experiment, if you believe in god then pray it works

How is that so?

The monetary system doesn't seem functioning to me by or through experiments and prayer doesn't seem to be given by or through chance.

zero percent interest rates for 7 years and $3 Trillion in QE is new and experimental

 

[Oldstyle]

Those facts don't line up with the right wing rhetoric that we are collapsing. I've had that same conversation with right wingers, and their response was that isn't what they see on their TV so your numbers must be fake.

We're not collapsing...we're treading water and that's all we've done for the past eight years!

 

[Holos]

every American needs to understand that we are in the middle of a massive new monetary experiment, if you believe in god then pray it works

How is that so?

The monetary system doesn't seem functioning to me by or through experiments and prayer doesn't seem to be given by or through chance.

zero percent interest rates for 7 years and $3 Trillion in QE is new and experimental

Who is enforcing the mathematics inlaid with those numbers, so that every American would have to need, and be fulfilled, in the understanding of your suggestion?

 

[NCC1701]

every American needs to understand that we are in the middle of a massive new monetary experiment, if you believe in god then pray it works

How is that so?

The monetary system doesn't seem functioning to me by or through experiments and prayer doesn't seem to be given by or through chance.

zero percent interest rates for 7 years and $3 Trillion in QE is new and experimental

Who is enforcing the mathematics inlaid with those numbers, so that every American would have to need, and be fulfilled, in the understanding of your suggestion?

The federal reserve is driving the bus here, we are in an unprecedented era of monetary policy, that should color every notion of how well we are or not doing. Fiscal policy likewise to some degree.

For example if Obama spent $1T in deficit stimulus, the fed monetized it, and GDP grew by $0.5T then I would call that sort of desperate. Others just look at the $0.5T GDP gain and proclaim success. Not saying it isn't possible to make it out of all this ok, I am saying that this is not normal by historical standards and kind of unsettling.

 

[Holos]

For example if Obama spent $1T in deficit stimulus, the fed monetized it, and GDP grew by $0.5T then I would call that sort of desperate.

Why do you imply the federal reserve would have to monetize the budget for any result when the federal reserve is providing the money, the budget, AND the statistical assessment?

 

[320 Years of History]

here is a few more inconvenient facts, sorry to interrupt your little celebration

Federal reserve balance sheet as a percent GDP

Fed funds rate

Reference links, please....

 

[BULLDOG]

Those facts don't line up with the right wing rhetoric that we are collapsing. I've had that same conversation with right wingers, and their response was that isn't what they see on their TV so your numbers must be fake.

We're not collapsing...we're treading water and that's all we've done for the past eight years!

Wrong.

 

[Indeependent]

As my friend at the gym, who works for Bank of America, told me, we are in a housing bubble because banks need fees and commissions.
I have spoken to at least a dozen mortgage brokers in my Temple and they're expecting a crash within a year.

 

[rdean]

In the meantime, we have 5.8 million jobs unfilled because people don't have the skills.

As long as Republicans teach their children education is a liberal plot, they will continue to drag down the country's economy.

 

[Holos]

As my friend at the gym, who works for Bank of America, told me, we are in a housing bubble because banks need fees and commissions.
I have spoken to at least a dozen mortgage brokers in my Temple and they're expecting a crash within a year.

What crashes?

If we take your friend's account that banks still don't have what they are essentially established upon, we don't even have an economy to be measured by a state.

 

[Indeependent]

As my friend at the gym, who works for Bank of America, told me, we are in a housing bubble because banks need fees and commissions.
I have spoken to at least a dozen mortgage brokers in my Temple and they're expecting a crash within a year.

What crashes?

If we take your friend's account that banks still don't have what they are essentially established upon, we don't even have an economy to be measured by a state.

I live in Nassau County and there has been, for the last 6 months or so, an explosion of both Commercial and Residential building.
Mortgages are being handed out to people on welfare (I'm NOT kidding) and kids becoming computer programmers who don't even have college degrees.
My relatives and friends across the country are seeing the same thing.
This in not sustainable.

 

[Holos]

In the meantime, we have 5.8 million jobs unfilled because people don't have the skills.

As long as Republicans teach their children education is a liberal plot, they will continue to drag down the country's economy.

Skilled people function IN THE MEANTIME. They make their time a mean to be applied into any other measurement of their preference.

Jobs unfilled? I acknowledge unemployment, but that doesn't imply standard jobs, it implies individual citizens, individual students, individual professionals.

Your second paragraph is null. It is resisting subsidies and creating incentives for the exportation of qualified debaters. That's not an indication of the country's economy, it is an indication of your comprehension of the country's economy. Null.

Welcome to my party. Welcome to politics.

 

[Holos]

As my friend at the gym, who works for Bank of America, told me, we are in a housing bubble because banks need fees and commissions.
I have spoken to at least a dozen mortgage brokers in my Temple and they're expecting a crash within a year.

What crashes?

If we take your friend's account that banks still don't have what they are essentially established upon, we don't even have an economy to be measured by a state.

I live in Nassau County and there has been, for the last 6 months or so, an explosion of both Commercial and Residential building.
Mortgages are being handed out to people on welfare (I'm NOT kidding) and kids becoming computer programmers who don't even have college degrees.
My relatives and friends across the country are seeing the same thing.
This in not sustainable.

You didn't answer my question.