http://www.marketwatch.com/story/us-stoc…
* Sept. retail sales rise, third monthly increase.
* 9 consecutive months of private market job growth through September. Numbers for July and August have been revised upward. http://www.flickr.com/photos/speakerpelo…
* Unemployment claims decreased AGAIN last month.
* A spike in seasonal hiring plans will add a total of 259,000 workers, more than 2008/2009.
* The economy has added 827,000 private-sector jobs through September 2010. Better than losing 750,000 jobs per month in the final Bush/GOP days. For comparison purposes, the economy lost nearly 3.8 million private-sector jobs in 2008.
* New Home Construction UP in September, highest jump in 5 months.
* Local governments cut 76,000 jobs in September, most of them in education. That’s the largest cut by local governments in 28 years. And, 77,000 temporary Census jobs ended in September. Balancing the budgets needed to be done.
* Bush left office with NEGATIVE 6.4% GDP growth. Under Obama, GDP growth has been POSITIVE for the past year.
* Deficit reduced 8% past quarter.
* Corporate quarterly results meeting/exceeding expectations. Again.
* DOW/S&P recovered 60+ percent and stabilizing in tighter trading ranges
* Global Markets at 4-month highs.
* Consumer Spending UP again for consecutive Months.
* Incomes UP .5% , more than DOUBLING July numbers.
* Construction Spending up AGAIN for the Month, 0.4%.
* The Institute for Supply Management said that its manufacturing index unexpectedly rose to 56.3 in August from 55.5 in July. A reading above 50 indicates growth. The manufacturing sector has expanded for 14 consecutive months.
* Economy still sluggish, but stabilizing and improving.
These are just the most recent facts regardless of how much you may dislike Obama.
Simple: Wall street recognizes that the Obama stimulus is a success.
but then, they are smart.
The recession is officially over, but it takes a while for things to really change and get back to normal everywhere. Economies have hysteresis; just because one part changes does not imply that the change is complete.
Stock market prices do NOT reflect how our economy is doing… it is all speculation and artificial raising of stock prices….Do you even know how the stock exchange works? Obviously not….
Where’s the meat. Hell they are talking of cutting S.S. we got no cost of living raise and they vote themselves a 67% raise added to an outrageous salary, for screwing our country up.
the stock market does not like uncertainty.
they no the liberal mecca is over.
Just another example of the disconnect between Wall St. and Main St.
You think the economy’s in good shape? I’ve got this bridge I’ll sell you …
its only bad for poor people
Yeah, the money and jobs are just rollin in………..
so is it still Bush’s fault or have we moved on yet
The stock market is a notoriously unreliable leading indicator. That is, when the stock market goes up, it means that the economy /might/ get better down the line. The stock market runs on expectations. For instance, the prospect of a massive Republican victory in the mid-term elections could be buoying the stock market.
One must consider the response lag…With an economy the size of the US it takes 18 to 24 months for the results of stimulus to become visible. what we are seeing now is the result of actions taken 18 to 24 moths ago – that would be the Bush Stimulus package! Notice however the numbers are going back down.. You will see this for about 6 months then a likely up-tick as result of “QE1″ then down again than an up-tick due to “QE2″ Then down again..
Other things to consider:
Most of these figures are driven by inflation representing an increase in the price of goods not the volume of goods.. Most people will continue to buy toilet paper even as the price goes up, but they are still shitting the same amount!
Increases in the DOW actually reflect a devaluation of the dollar due to inflation. the dollar is worth less so the prices go up.
Jobs generally go up in the summer (Vacation season) and then go back down in the fall. seasonal increases mean little to the overall employment picture. The Same thing will happen in November as merchants prepare for the Christmas rush…
Manufacturing numbers also go up normally in September, October in preparation for Christmas demand, no surprise there, the real test is how much is still in inventory in Jan. when the rush is past?
The real test of economic recovery is how does the economy do without the stimulus? So far it looks like the stimulus packages are making the numbers look good but once the stimulus wears off the numbers go back down again.. This is why the FED is talking about the need for “QE2″
Sorry the news is not better but it is what it is.