The "up-to-the-minute Market Data" thread

Why worry about the economy, people went on a shopping spree this holidays!!!!!!!!!!!!!!!!!!!!!don't you all get it, the economy is doing great!!!!!!!!!!!!!!!!!!!!! or ............... is just the credicards are coming back ..............

reply to post by marg6043


Poor people... the economy would be recovering if it wasn't for those credit cards companies!

In other news, Illinois has just raised the ante on the insane US style...

Illinois Lawmakers Propose 75 Percent Income Tax Hike
That is INSANITY.

75% income tax hike? Really?

If the bill passes, the plan would raise the personal income tax rate from the current 3 percent to 5.25 percent. That’s a 75 percent increase. In real dollars, that would mean if you currently owe $1,000 in taxes, next year you would owe $1,750.

That's just great.

reply to post by Vitchilo


Is not that the states are doing it for the heck of it, but with Obama care looming over their shoulders the initial cost will cause statewide tax hikes.

After all only those states that are fighting back are the ones that are taking into the consideration the tax payer.

reply to post by marg6043


Stores actually sold less though.. people were suckered into "sales" that were highly marked up to begin with. I know the media has had a field day with all those "50%" off sale signs everywhere, but in all actuality people spent more per item than they normally do.. unlike last year and the year before where prices were marked down.

To be fair, it wasn't all corporate manipulation, the Dollar is currently at a very low point right now, increasing the cost of imported items (which equals essentially everything we buy during Christmas....)

Adjusted for inflation, we actually spent roughly the same year over year.

On a brighter note, perhaps now that inflation is picking up momentum it will lead to economic expansion, especially with China increasing their values while ours falls.. it's good news for our production, bad news for our plastic garbage we buy from China.

i can discern the equity market with this pound yen currency pair...and it looks like up from here, according to the historical action

reply to post by GBP/JPY


I believe it's probably impossible to have a down equity market when you have high inflation, a depreciating dollar and a massive amount of liquid cash in the markets.

Can anyone believe this economy news update anymore?

Bernanke: Higher U.S. unemployment to linger

U.S. jobless rate drops to 9.4%

Why are the news network cheering about this? people are still losing there jobs.
well i fear we may have a repeat of the same the issue of you know the jobless rate going up to 9.8 again, and the media giving lame excuses.



I still believe we haven't seen the worst of the economy crisis.

reply to post by Agent_USA_Supporter


Officially characterized as innocent Boo Boos, the infamous BLS "revisions" come out next month.

Wait for 'em

Monthly unemployment rates aren't set in stone

In early February, the BLS will release once-a-year revisions in its count of monthly job creation. Those revisions will be based on more complete information from employers, such as unemployment insurance tax records.

The economy added a net total of 1.1 million jobs in 2010. That total will likely turn out to be lower - by 366,000, according to a preliminary calculation the government made in the fall. The actual number will be released next month with the employment report for January. - Full Text

Or to paraphrase Mark Twain - There are three kinds of lies: lies, damned lies, and jobs reports.

reply to post by Rockpuck


Well this year, we spend more than in the last two years, we had some dying appliances and we got great deals in Lowe's that we even purchase appliances for our son as present.

So looking at the spending we did, we looked for bargains and got them, after researching and comparing prices.

And yes we used Lowe's charge with 0 interest for 18 months.

The rest was cash.

I love this one, my friends,

Either Obama is surrounded by dumb appointees or the appointees think American people are dumb.

Janet Yellen Says Fed Asset Purchases Will Create 3 Million Private Jobs By 2012

Now didn't Obama said he was going to save or created 3.5 millions with last year stimulus, well let do the math.

December 2010. Drum roll please.......
The just released report shows 130,710,000 jobs.

Let's do the math. 130,710,000 - 134,580,000 = -3,870,000. The president expected to create or save 3.5 million jobs. Instead he lost 3.87 million jobs. That is a whopping deficit of 7.37 million jobs.

Now Janet Yellen thinks the Fed is going to create 3 million jobs by the end of this year. Let's do that math, too. 3 million divided by 12 is 250,000 jobs a month. Does anyone believe that?

Should we add that total to the current deficit of 7.37 million jobs? If by some miracle we do create 250,000 jobs a month does the Fed get credit for them, President Obama, or the man in the moon?

So now we must believe that 3 million more will be added this year, should we add that to the failed 3.5 that were neither created or saved?

globaleconomicanalysis.blogspot.com...

reply to post by marg6043


Then take 7million jobs LOST and add those jobs never created (approx 1.2m a year, via immigrant and college grads, hell, that actually mostly only covers main corporations and professional jobs and has no bearing on self employed, smaller companies etc) then add that by the number of years in the depression (4) and you get almost 11m jobs needed to be "normal".

Bernake says, get used to it.. there is a new underclass in town, and it's not meant to go anywhere soon.

Originally posted by Rockpuck
reply to post by marg6043

 

Then take 7million jobs LOST and add those jobs never created (approx 1.2m a year, via immigrant and college grads, hell, that actually mostly only covers main corporations and professional jobs and has no bearing on self employed, smaller companies etc) then add that by the number of years in the depression (4) and you get almost 11m jobs needed to be "normal".

Bernake says, get used to it.. there is a new underclass in town, and it's not meant to go anywhere soon.

And those numbers are probably very conservative. As those corps lay off millions those people will not patronize small the small businesses anymore either. The question is what is the magic number for critical mass or the proverbial tipping point....

reply to post by Rockpuck


Wait when small businesses and self employed take the hit of Obama care and been forced to provide insurance for employees.

I wonder how the small local businesses that hired illegal immigrants will be covering their employees off the books.

but then again Obama care actually will ensure that 11 million illegals will qualify by employment for Medicaid.

And also let not forget the new taxes.

Well I can obviously see that if Gold is on the rise our dollar is sure to become worthless after awhile. Crap, let's see, so I'm going to start saving all precious metal and stones. Basically it's time to invest in something real, right?

I mean isn't that what were learning here. Invest in something real like at least a greenhouse, seed and tools. I mean precious metals are cool but I think homesteading or animals or something real is the key, right? Am I speaking out me bum or do people agree with me. Old days. Family, Friends, Community, Gardens, Skills and all that.

It's time to become real people again, with real products that we can offer each other, right?

New Move to make the Yuan Global Currency

China has launched trading in its currency in the U.S. for the first time, an explicit endorsement by Beijing of the fast-growing market in the yuan and a significant step in the country's plan to foster global trading in its currency.

online.wsj.com...

reply to post by marg6043

Wait when small businesses and self employed take the hit of Obama care and been forced to provide insurance for employees.

You forgot the blasted new regs for 1099's included in Obamacare. This will effect EVERYONE because it is going to cost a frackin' bundle to implement.

REUTERS: 1099 tax rule may bring big pain to small business

The new rules on 1099 forms, which were attached to the health care bill and are set to go into effect in 2012, call for all businesses, no matter how small, to file 1099 forms for goods as well as for services. That sounds like a technicality, but it’s got small business up in arms.

The new rule requires all business to file 1099 forms for goods as well as services, if those goods cost over $600 annually...

It will affect all businesses, including sole proprietors, consultants, self-employed people and freelancers, who are considered businesses for tax purposes, but may not think of themselves that way. It also will apply to charities and other tax-exempt organizations. The National Taxpayer Advocate, based on Internal Revenue Service data, figures that it will affect 26 million sole proprietorships, 4 million S corporations, 2 million C corporations, 3 million partnerships, 2 million farms, 1 million charities and other tax-exempt organizations, and likely more than 100,000 federal, state and local government entities. All told, that’s more than 38 million taxpayers and taxpaying entities....

reply to post by Interestinggg


Just watched the "Kudlow Report" and he had a whole group of people on talking about China and how their weapons are aimed at the US. Whether war is wanted or not, its more than likely that war is what we're going to get. It keeps the defense "industry" in business!

reply to post by Vitchilo


Kudlow is saying the state should file bankruptcy! Screw everyone out of their pensions is their plan! If this doesn't piss people off nothing will!

reply to post by Agent_USA_Supporter


Do you really beleive that Bernanke is telling the truth? What a crock! The economy is collapsing for many people and the only answer is to start a war with China! The same things being done to Japan prior to WW2 are being done to China! The devil loves war!

reply to post by crimvelvet


In other words, the middle class will be taxed to death as usual, because most entrepreneurs, small businesses and so on are nothing but middle class in America trying to survive, still in a letter I received from my senator that is pro the Repeal of the Obama Care it said that in Ga the people that pay under 200 thousand a year will be the ones facing the burden of the tax, while it will cost initially to implement Obama care in the State 1 billion dollars.

Hopefully Ga with the repeal will be off Obama care and the Repeal will be in congress with majority Republicans this year, while it may be in the supreme court if nothing is resolved by early next year.

But then again isn't the world to end next year?