Here comes the other economic shoe dropping...

[Hermit]

When the shoe finally drops off the US economy, the boot will be on the other foot. Luckily the new rulers will be ever so magnaminous.

[Coito ergo sum]

Only one of the saving graces we have is that China's economy is tiny compared the US economy. The US economy is 25% of the global economy. That's one positive thing - that a place like China still needs us more than we need them. But, that won't be the case forever. I hope our politicians won't remain as shortsighted as they have been...

[Coito ergo sum]

Forget the modest 3.1 percent rise in the Consumer Price Index, the government's widely used measure of inflation. Everyday prices are up some 8 percent over the past year, according to the American Institute for Economic Research. http://www.cbsnews.com/8301-505144_162- ... you-think/

One Month to Go Until We Have the World's Highest Corporate Tax Rate
Just one month from today, the United States will have the highest corporate income tax rate in the developed world, surpassing Japan. Read more: http://www.atr.org/one-month-worlds-hig ... z1nu6rEf00

[Coito ergo sum]

PRINCETON, NJ -- U.S. unemployment, as measured by Gallup without seasonal adjustment, increased to 9.1% in February from 8.6% in January and 8.5% in December. http://www.gallup.com/poll/153161/Unemp ... ruary.aspx

[JimC]

It's just like Crumple, but with a narrower focus...

[Coito ergo sum]

New U.S. claims for unemployment benefits fell less than expected last week, according to a government report on Thursday that could dampen hopes of a pick-up in job creation in April after March's slowdown.

Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 386,000, the Labor Department said. But the prior week's figure was revised up to 388,000 from the previously reported 380,000.

The four-week moving average for new claims, considered a better measure of labor market trends, rose 5,500 to 374,750.

Economists polled by Reuters had forecast claims falling to 370,000 last week.

"The number suggests that improvement is slowing down," said Subodh Kumar, chief investment strategist at Subodh Kumar & Associates in Toronto.

http://www.cnbc.com/id/47098817

[Tero]

I sent my reporters to look up this millionaire club and they are still there, no progress
http://teroreport.blogspot.com/2011/12/ ... e.html?m=1

[Atheist-Lite]

I heard my name mentioned on this thread so thought I'd drop by with a contribution.

[youtube]http://www.youtube.com/watch?v=qcxETQB0 ... r_embedded[/youtube]

[Atheist-Lite]

http://www.bbc.co.uk/news/business-17810759

Global shares fall as anxiety returns

Stock markets have fallen after weak manufacturing data and political uncertainty in France and the Netherlands hit investor confidence.

Wall Street fell 1%, while German shares fell 3.4%, French stocks dropped 2.8% and the UK stocks dropped 1.9%.

On Sunday, President Nicolas Sarkozy narrowly lost to socialist rival Francois Hollande in the first round of France's presidential election.

The collapse of budget talks in the Netherlands added to market nerves.

The closely-watched Purchasing Managers Index (PMI) survey suggested manufacturing activity in Germany fell to an almost three-year low of 46.3 in April. Any figure below 50 suggests contraction.

Figures for the wider economy, both in Germany, France and the wider eurozone, also showed a deeper contraction.

"The flash PMI signalled a faster rate of economic contraction in the eurozone during April, extending what appears to be a double-dip recession into a third consecutive quarter," said Chris Williamson, chief economist at survey-compiler Markit.

Earlier, HSBC's PMI reading for China improved slightly in March to 49.1, up from 48.3 in the previous month.

To compound the gloomy mood of investors, the Bank of Spain estimated that the Spanish economy shrank by 0.4% in the first three months of this year, pushing the economy back into recession after it contracted by 0.3% in the final quarter of last year.

Spain's official GDP data is published on 30 April.

(continued)

[Rum]

PM me your address so I can send you something to put you out of your (and our) misery, OK?

[Atheist-Lite]

PM me your address so I can send you something to put you out of your (and our) misery, OK?

I will if you need a safe house after Camerons very British coup. He ain't looking relaxed for nothing at this shitstorm and another 5% will provoke just the crisis he and his tribe of toffs want.

[Rum]

PM me your address so I can send you something to put you out of your (and our) misery, OK?

I will if you need a safe house after Camerons very British coup. He ain't looking relaxed for nothing at this shitstorm and another 5% will provoke just the crisis he and his tribe of toffs want.

I sometimes wonder what you use for brains..or emotions come to that.

[Atheist-Lite]

PM me your address so I can send you something to put you out of your (and our) misery, OK?

I will if you need a safe house after Camerons very British coup. He ain't looking relaxed for nothing at this shitstorm and another 5% will provoke just the crisis he and his tribe of toffs want.

I sometimes wonder what you use for brains..or emotions come to that.

I like you Rum. You really do try to understand people. But some, are beyond you. Expect it in this world.

Now focus on the coup I just warned you about and start thinking about what you can do to help others more vulnerable than me?

[Coito ergo sum]

Strike up the band, folks!

Unemployment down to 8.1%!!!!!

Woooo hoooo!!! Proof the stimulus worked and all of Obama's policies have saved us!

Right?

[Ian]

Strike up the band, folks!

Unemployment down to 8.1%!!!!!

Woooo hoooo!!! Proof the stimulus worked and all of Obama's policies have saved us!

Right?

The only proof of anything here is the proof that for two you've used this thread in a determined effort to nitpick any little morsel of economic data in order to to snidely blame Obama for the terrible news.

Here's a thought... the US and Europe were both nailed by recession. The US went the route of stimulus. Europe has been going the route of austerity. How's Europe doing?

Still, you're right... I don't think the stimulus worked as well as promised. It wasn't big enough.