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U.S. debt impasse overshadows positive economic data

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posted on Jul, 28 2011 @ 04:47 PM
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What positive economic data?


Link 1



A host of earnings reports that beat forecasts, combined with U.S. initial jobless claims from last week that came in lower than expected and pending home sales that were higher than expected,




How is this good news? these are all part time summer jobs

Link 2





Please respect FT.com's ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email ftsales.support@ft.com to buy additional rights or use this link to reference the article - www.ft.com... New weekly claims for unemployment benefits have been stuck above 400,000 for nearly four months, a level economists consider too high to support a recovery in the labour market. The less volatile four-week moving average of claims fell 8,500 to 413,750.




posted on Jul, 28 2011 @ 04:54 PM
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reply to post by Agent_USA_Supporter
 


Don't forget that most of these numbers and statistics are heavily manipulated to be in favour of the present government.
edit on 28-7-2011 by CasiusIgnoranze because: .



posted on Jul, 28 2011 @ 05:00 PM
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reply to post by CasiusIgnoranze
 


thats correct, i wonder if america also manipulated the statistics of Libya and Egpyt as well, we Canadians have same lying statistics our government wants us to believe that canadas unemployment rate is 7.4% and has stayed that way for two years? i find that hard to believe, i see alot of people, young,old been out of work, and are even begging to work, if you have a job.


The unemployment rate statistics are very easy to be manipulated.



posted on Jul, 28 2011 @ 05:18 PM
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Actually this is to be expected, the excessive growth in the money supply has been going on long enough to impact unemployment. A price inflationary recovery isn't surprising to me at all, inflationary effects always occur with a lag. This weak recovery is unsustainable though, an inflation driven recovery can only last for a short period of time.
edit on 28-7-2011 by Rockdisjoint because: (no reason given)



posted on Jul, 28 2011 @ 05:42 PM
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That oil profits are up? Woohoo. (sarcasm)
edit on 28-7-2011 by IndieA because: spelling



posted on Jul, 28 2011 @ 05:45 PM
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Tyler Durden points out on ZH that the current month's 398k will likely be revised up anyway as it was revised upward the previous month.


As expected last week's 418K in initial claims was revised higher to 422K, but the big surprise was this week's drop in claims to 398K on expectations of 415k. The market appears to relish the fact that the streak of 16 weeks of 400K+ prints is broken, although that is quite amusing as next week's upward revision will mean the 400k+ streak will continue.


Initial Claims Print Sub 400, At 398K, To Be Revised Above 400K Next Week, As NSA Claims Plunge By 104K In The Past Week



posted on Jul, 28 2011 @ 06:22 PM
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reply to post by surrealist
 


How can you take that guy seriously? ZH lies over and over again.

A very poor source if you ask me.
edit on 28-7-2011 by IndieA because: spelling



posted on Jul, 28 2011 @ 06:52 PM
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reply to post by IndieA
 


Well I certainly don’t need to ask you and he has proven himself correct on a lot of occasions. Where is your PROOF of his “lies over and over again”?

At any rate, I would choose to consider his “lies” over your pathetic accusations any day.



posted on Jul, 28 2011 @ 07:01 PM
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reply to post by Rockdisjoint
 


what recovery? you should know that america has over 300 million people, these statistics lie so many times, and arent the actaully data.


there is no recovery.



posted on Jul, 28 2011 @ 07:12 PM
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reply to post by surrealist
 




Well I certainly don’t need to ask you and he has proven himself correct on a lot of occasions. Where is your PROOF of his “lies over and over again”?


Well for one thing there's this.

www.abovetopsecret.com...

Titled "US reaches debt ceiling tomorrow". Posted March 30th.

There's more but it's not worth my time.



posted on Jul, 28 2011 @ 07:15 PM
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Originally posted by Agent_USA_Supporter
reply to post by Rockdisjoint
 


what recovery? you should know that america has over 300 million people, these statistics lie so many times, and arent the actaully data.


there is no recovery.


Oil profits are up.

specials.msn.com...
edit on 28-7-2011 by IndieA because: fixed link



posted on Jul, 28 2011 @ 07:20 PM
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Article from zerohedge

www.zerohedge.com...



In summary there are three avenues that the Fed can pursue in order to help Tim Geithner prolong the cash illusion modestly longer. The three options for Bernanke are to i) book profits; ii) prepay expenses and, yes, iii) sell gold. Combined, these three approaches could squeeze out well over half a trillion dollars, giving the Treasury breathing room not only past August 2, but potentially into 2012!


But wait.. did Ron Paul ask the right or the wrong questions? answer was that the fed has no gold, only certificates dating from 1934.



edit on 28-7-2011 by earthling42 because: quote



posted on Jul, 28 2011 @ 07:27 PM
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reply to post by earthling42
 


Did you miss my post about Zero Hedge? They can't be trusted.



posted on Jul, 28 2011 @ 07:41 PM
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reply to post by IndieA
 





Oil profits are up.


So? So what if the Profits, who gains from them? recently not the poor, middle class or those in welfare, there is no Global Recovery for everyday citizens who lost there jobs or those are about to lose it .
edit on 28-7-2011 by Agent_USA_Supporter because: (no reason given)

edit on 28-7-2011 by Agent_USA_Supporter because: (no reason given)



posted on Jul, 28 2011 @ 07:53 PM
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reply to post by Agent_USA_Supporter
 


I know. It was a bad joke.



posted on Jul, 28 2011 @ 08:11 PM
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reply to post by IndieA
 


Its alright i know it was a joke, it was a bit silly



posted on Jul, 28 2011 @ 08:13 PM
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reply to post by earthling42
 


HEY DIDN'T YOU READ INDIEA'S POST THAT ZEROHEDGE CANNOT BE TRUSTED UNDER ANY CIRCUMSTANCES?!!!

PLEDGE YOUR TRUST IN THE GUBBERMENT!



posted on Jul, 29 2011 @ 07:28 AM
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It's obvious that zerohedge is tied to wall street.
As soon as there is bad news on america, rating agency will chop some more in Europe, and tyler happy to report on gloom and doom in Europe.
Sure enough, the absence of a budget since 2009 in America is not mentioned, also not the fact that it is somewhat foolish to debate on spending cuts if there is no buget to begin with.
How do they know were they will cut spendings if it is not clear were the money is spent on?
States are bankrupt, that also is not in the news, their enormous deficits and cuts are not mentioned.
Visit Shadowstats if you want to see the real numbers on gdp and inflation, and unemployment.
America already defaulted and thus had to print money, that has been going on since 2009 and it will continue.
I think QE3 will start as soon as the ceiling is raised.
The debt laden countries in southern Europe are unable to print, but they can raise capital by selling bonds.
The rating agency has cut them off by downgrading them, and thus they have to cut deep because they are unable to raise new capital.

Spain has a debt to gdp ratio of 65 percent, and a deficit of arround 6 percent brought back from 9.2 in 2010.
But today they are being put on watch for yet another downgrade because they may need money to finance, obvious.. because it has no surplus.
America has a gdp ratio of 98 percent and a deficit of 10 percent, and they say, raise the debt ceiling otherwise we will have to downgrade.
My prediction is that the US will not be downgraded, and it keeps manupilating the numbers so there is low inflation and growth.

This is the financial world busy to destroy real peoples lives, because behind the financial bs people loose everything and have no future.
I guess we must be thankfull to those responsible, surely they have been bailed out, but thats not enough it seems.
So lets not sue them, forget fraud and linda green, do not look at the real world in which people loose their homes and jobs, their pensions and medicare.

This world is sick.



posted on Jul, 29 2011 @ 08:52 AM
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You mean like this positive economic news.....


The economy expanded at meager rate of 1.3 percent annual rate in the spring after scarcely growing at all in the first three months of the year, the Commerce Department said Friday. The combined growth for the first six months of the year was the weakest since the recession ended. The government revised the January-March figures to show just 0.4 percent growth -- down sharply from its previous estimate of 1.9 percent.


AP via Yahoo Finance

For the economically inept, let me break it down for ya. The 1st Quarter GDP growth number was overestimated by almost 400% !!! I personally believe that this number would not have been released if the debt debate was not going on.

It's really quite simply we should have had a near depression after the tech wreck in the early part of the last decade. Between the housing bubble that was blown and government spending enabled by debt that realization was put off. 2008 came and the bubble popped the cumulative damage was worse but it was covered up by government spending since then. The contraction in the economy that has been covered up by bubbles and .gov spending must be realized. Bad debt must be defaulted by individuals, corporations, and yes even governments. We will see no true improvement until the system is allowed to clear. These politicians and academics have foolishly believed they can beat the business cycle, the American people are mostly stupid enough to believe that ( even those that know what the business cycle is), but the mathematics say reset is coming. It'll be better for us to do it now while the US as much trouble as it's in is still in better shape than Europe.



posted on Jul, 29 2011 @ 04:47 PM
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reply to post by surrealist
 


I'm not saying I trust the government. I'm not even saying Zerohedge is wrong on this.

I'm only trying to inform a few readers that I've caught Zerohedge in some blatant lies that side on fear mongering, to the point that I can’t trust anything they say.

I'm not even trying to say people shouldn't be afraid. Serious stuff has been going on for to long and it is concerning.

All I'm trying to say is, be careful where you get your information, who you trust, and how seriously you take said information. And Zerohedge is crap. (I mean, to report the debt ceiling is to be reached in 2 days, 3 months ago, when common knowlege says otherwise. All I had to do was find the debt clock and see that it was a lie. Yet they get people all worked up time and time again.)
edit on 29-7-2011 by IndieA because: additional info



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