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CNN So much for an economic downturn

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posted on Jan, 4 2011 @ 11:49 PM
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CNN Says The downturn is Over For NY




# Hospitality industry adds 6,600 jobs, employing more New Yorkers than ever, mayor says


If you ask me personally thats not alot of jobs, second this your typical government propaganda to claim that the economic downturn is over.


Another thing



New York City drew 48.7 million tourists in 2010, exceeding last year's total and surpassing projections, while adding more jobs and employing a record amount of New Yorkers in the hospitality industry, Mayor Michael Bloomberg said Tuesday.




Somehow i highly don't believe this claim




-- 39 million visitors were from the United States and 9.7 million were from abroad.




We do live in a economic crisis, and yet CNN claims its over For NY because of tourists? i wonder which tourists?
Middle Class tourists? or were they rich class tourists?

While either way you be the judge.



edit on 4-1-2011 by Agent_USA_Supporter because: (no reason given)




posted on Jan, 4 2011 @ 11:54 PM
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CNN said the economy showed signs of recovering in a month that we LOST jobs a few months back.
/facepalm



posted on Jan, 5 2011 @ 12:02 AM
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So when is the media going to realize that this country is much bigger than one or two cities???



posted on Jan, 5 2011 @ 12:27 AM
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Because those hospitality jobs are really going to bring in the kind of money needed to provide for families and get people off of foodstamps, etc.



posted on Jan, 5 2011 @ 02:00 AM
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Originally posted by thewholepicture
So when is the media going to realize that this country is much bigger than one or two cities???




I concur. At the moment, mainstream media boasting GM output growth and NY tourist/jobs. They call it recovery.

Where is the stats on "overall" recovery? I call it false information and fraud.

By the way guys, take note of Bloomberg, Marketwatch and Reuters



posted on Jan, 5 2011 @ 02:20 AM
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Yeah, I hear there's big money in the burgeoning tourist industry in Detroit too.

Hadn't seen the post Christmas season lay-offs yet. My little city is limping along if you're poor, but those with good jobs and good healthcare seem to think nothing has changed. Maybe a lot more murder and crime, and they have no idea why that could be. They only need to take a drive into the poorest sections of town at 2pm and see all the young men out on the street and the family adults sitting out on their steps waiting...for kids, a job, some welfare, a caseworker, who knows. Of course the richer and even the middle middle class never venture that way so they have no base line of comparision.



posted on Jan, 5 2011 @ 04:11 AM
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It seems economy is getting around the world with being a global problem somehow.



posted on Jan, 7 2011 @ 09:55 AM
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perhaps they (CNN) analysts are looking at the charts of election cycles relative to the stock market...



“For the stock market, the sweet spot is usually the third year of a presidential term, which is 2011 for the Obama administration. …The stock market often leads the economy, and that seems to be the case in presidential cycles. The fourth year, on average … the most economic growth.”

The report continued: “In the years from 1946 through 2009, 62% of the American economy’s growth came during the final two years of presidential terms, compared with 38% in the first two years. A third of the growth came in the fourth years.

”The stock market pattern was even more marked,” the story concluded. “An investor who owned stocks during the third years of terms, and stayed out of the market during the other years, would have earned profits more than twice as great as those that went to an investor following the opposite strategy, owning stocks in all but the third years.”

www.marketwatch.com...

What this statistical analysis says , is the owning stocks this (3rd) year has a history of being good for owning stocks and holding them next year will statistically earn you more 'growth' than in the 1st 3 years of the Øbama term in office.
the trends sort of both overlap one another and even mildly conflict, but i for one am engaged in buying more stocks thru my DRIP accounts & then selling after Sep/Oct 2012



posted on Jan, 7 2011 @ 10:20 AM
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oh come on people....

CNN reports a few bright spots in this big ugly mess and they are trying to fool people?



posted on Jan, 7 2011 @ 10:26 AM
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reply to post by SLAYER69
 


Well ... when we all know who owns the media in the US .. .well is reasons to be very skeptical my friend.

propaganda, manipulation and more propaganda.



posted on Jan, 7 2011 @ 10:44 AM
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reply to post by marg6043
 


I have no illusions with regard to that. But simply reporting some positives is hardly propaganda IMO.
Now, if they reported that the Economic downturn was over or that we were in recovery etc. Then I'd being screaming foul.



posted on Jan, 7 2011 @ 11:20 AM
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reply to post by SLAYER69
 


Then you should find the news on the holiday spending "Uplifting"



As we already know by our buy out media, people went on a spending spree this holidays. . .Now what they fail to say is . . . how much of the purchases were done on credit cards . . ., this are great news indeed !!!!!!!!!!!! the credicards are in business again
compare to people spending cash in the previous two years rather than using their plastic.



posted on Jan, 7 2011 @ 11:41 AM
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reply to post by Agent_USA_Supporter
 


Tourists mainly from the UK and the rest of Europe came to the city in 2010 to take advantage of the cheap dollar exchange rates. At one point the pound sterling was trading at almost 2 dollars to every one pound.
People were actually coming to the city from the UK for weekend shopping sprees.



posted on Jan, 7 2011 @ 04:53 PM
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Believe them, and they will rob you blind

I happened to read the latest offering from Howard Katz last night...only to learn minutes later that this will be his last (see below).

Summation (snip)....


The Art of Speculation
By Howard Katz
Nov 29 2010 10:58AM

As the above history shows, you live in a society surrounded by and immersed in lies. This is bad for most of the people, but for the astute speculator who is willing to question authority it is an opportunity. - Full Text



Long time contributor Howard Katz Passes Away
By Kitco Media
Jan 6 2011 8:32AM

According to an obituary in New Hampshire’s daily newspaper, NashuaTelegraph, Howard S. Katz, a long-time commentator on Kitco.com passed away on Dec. 23, 2010 at the age of 72. Howard was a financial analyst and editor-in-chief of The One-Handed Economist and the former Gold Bug Newsletters. He was born in Providence, and had lived in New Hampshire for 10 years. - Continues


Thanks for several years of wisdom and enlightenment Howard. You will be missed.



posted on Jan, 7 2011 @ 07:42 PM
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I've been highly critical of Dennis Gartman in the past, and I doubt that will change much in the future. Next to J. Nadler, he qualifies as the world's 2nd worst Gold analyst...but hey, credit where credit is due, and Gartman managed to knock one outta da park today.

If you can read this posting and maintain any degree of confidence in the duplicitous blather that oozes from the lips of our political stewardship...please check your grip on reality, cause dude/dude-ess...it's tenuous.

Courtesy of poster gwr1....

a message from the President in today's Gartman letter commentary



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