| Name: |
MartiniMan
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| Subject: |
Litany of economic news
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Date:
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4/26/2012 12:16:42 PM
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Here is a short list of bad economic news.
- Jobless claims are back to rising instead of continuing to drop per expectations
- Private employers only added 120K jobs which is the lowest since October of last year
- Recent FoxNews poll - 83% said we are still in a recession but at least 45% say they are optimistic the economy will begin to improve.
- Recent gains in consumer confidence seems to be eroding or not improving (down in March, flat in April)
- Unemployment remains over 10% regardless of the nonsense being issued by the BLS
- Europe appears to be heading to a double dip recession
- GDP growth projections are being lowered and are very anemic
Here is a short list of positive economic news.
- Mortgage interest remain low and the Fed seems committed to keeping them there
- Stocks seem to be holding their own but are still very volatile
- Corporate earnings are pretty good based mostly on increased productivity and CEO confidence is on the uptick
I looked long and hard for more positive economic news and had a hard time coming up with more. All in all a bleak outlook which I share.
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| Name: |
MartiniMan
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| Subject: |
GDP revised down to 2.2%
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Date:
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4/27/2012 9:12:30 AM
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Sigh.......when will this national nightmare of Jimmy Carter's 2nd term end?!?!? Please tell me January 2013!!
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| Name: |
MartiniMan
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| Subject: |
1M more loans underwater
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Date:
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4/27/2012 9:19:38 AM
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Believe it or not, over 1 million people that bought or refinanced in the last two years are now underwater with their loans.
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| Name: |
comrade
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| Subject: |
Litany of economic news
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Date:
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4/27/2012 9:27:57 AM
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GF and architect: I believe it is your serve.....
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| Name: |
MartiniMan
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| Subject: |
Home ownership drops to 62%
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Date:
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4/27/2012 11:19:03 AM
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Lowest in decades and down from a high of 73% in the last two years of the Bush administration. The hits just keep on coming.....
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| Name: |
MartiniMan
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| Subject: |
Don't hold your breath
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Date:
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4/27/2012 11:32:22 AM
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I did what I could to be fair and balanced but there is a paucity of good economic news out there.
On a related note, watch the government media carefully over the next several months. There will be an astonishing amount of relative honesty about how awful the economy is. But as we approach mid-summer and the fall the spin will be exactly the opposite. The economy will likely be no better but there will be tons of stories about how its improving. Mark the date of this prediction and watch for it to come to fruition. The government media is all too predictable.
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| Name: |
water_watcher
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| Subject: |
Home ownership drops to 62%
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Date:
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4/27/2012 11:41:23 AM
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Stop ... you are depressing me :)
It is so sad that anyone can support having 4 more years of this disasterous results.
As I have asked Fish many times ... what economic policy has he implemented that has worked and you can be proud of that deserves the continued support.
Even the lower middle class that he claims to fight for ... they are all worse off under Oblamer ... higher unemployment, more in poverty, more on food stamps, higher gas prices, higher food costs, lower home prices, more foreclosures, less people working than when he took office, on and on.
As a Romney spokesperson said ... if Oblamer was proud of his accomplishments, he would be talking about how much better things are under him and what he has accomplished, rather than the BS he is doing on the campaign trail.
Oblamer keeps saying we are not going back to the failed policies ... but he does not say what past policies are failures and how it is better under him. Looking back ... things were pretty darn good.
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| Name: |
GoneFishin
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| Subject: |
Home ownership drops to 62%
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Date:
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4/27/2012 4:13:06 PM
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You think just may be the 73% included all those who bought homes because of Barney Frank, Freddi and Fannie? You have lambasted them for allowing unqualified persons to obtain mortgages to buy houses who could not afford them. Now that they have been foreclosed you are screaming that home ownership has gone from 73% to 62%. You are smarter than that. At least I think you are.
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| Name: |
GoneFishin
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| Subject: |
1M more loans underwater
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Date:
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4/27/2012 4:27:45 PM
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FHA loans with a 3.5% downpayment didn't leave much of a cushion. Too many optimistic buyers thinking the botton arrived when they bought. 20% down or NO loan...........
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| Name: |
MartiniMan
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| Subject: |
You misunderstand and are a bit defensive
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Date:
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4/27/2012 5:01:53 PM (updated 4/27/2012 5:05:03 PM)
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First of all, you can hardly characterize my post as screaming.....but I guess you could try...
The drop in home ownership is merely a symptom of a bigger issue, a lousy economy and one that is not improving. There is no doubt and you are exactly right that the distortions of the markets caused by Fannie and Freddie resulted in the increased homeownership percentages. And I agree with you that morons like Bawney Fwank and Chris Cheap Mortgage Dodd blocked attempted reforms that would have lessened the bubble. I am glad we agree on who is to blame.
But it is also a fact that under Oblamer it has dropped 11% primarily because of unemployment and underemployment and the lack of real progress primarily because of his destructive policies. Also the drop is due to people walking away from mortgages that were under water even though they could pay the monthly cost. While it is just a symptom of difficult economic times that we live in and fair or not (in my opinion mostly fair in this case) the current administration takes the hit.
Having said that, in the long run having home ownership at more reasonable levels is probably not a bad thing but the way it is happening and for those impacted, it is not a pleasant experience. The bubble burst was bound to happen but because of the Messiah and his destructive economic policies that revolve around big government it is much worse than it needed to be and will continue to worsen until we let Michelle walk out of the WH and keep on walking......we can only hope that we will fulfill this dream of hers, not to mention getting her back to paying for her own friggin vacations.
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| Name: |
MartiniMan
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| Subject: |
Actually not on target but my fault
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Date:
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4/27/2012 5:03:45 PM
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I should have been clearer. These were loans that were refinanced in the last two years. Because home prices have continued to drop as a result of the lousy economy they went from having positive equity to being under water. Sorry for the confusion......
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| Name: |
comrade
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| Subject: |
GF...
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Date:
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4/27/2012 8:14:22 PM
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LET.....
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| Name: |
GoneFishin
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| Subject: |
You misunderstand and are a bit defensive
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Date:
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4/27/2012 11:37:25 PM
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Gee, me defensive? Not the new me.... I am quasi brainwashed from all your posts. However, if you sincerely feel I was too harsh on you, I am so sorrieee. Never realized a 1%er actually has feelings.
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| Name: |
comrade
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| Subject: |
You misunderstand and are a bit defensive
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Date:
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4/28/2012 12:15:00 AM
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Exactly
Should never expect a lib to have any insight in actual human experience
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| Name: |
MartiniMan
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| Subject: |
If only it were true
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Date:
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4/28/2012 8:57:26 AM
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I know better that: a) you agree with much of what I wrote; and b) that you have come to your senses and having assuaged your liberal white guilt by voting for the Messiah in 2008 that this time around you will do the right thing and send his incompetent backside out onto the Hate America World Tour where he too will join the 0.05%ers like Slick Willie. Millions await him in every Islamofascist, communist and dictatorial country in the world.
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