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Old 10-18-2012, 03:42 PM   #76
rezznor
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Default Re: Unemployment Drops Below 8%, Conservatives Cry Conspiracy

Quote:
Originally Posted by KevinNYC
I think there is something going with the economy that is more positive than recent history.

Car Sales are at a 4 year high. Highest rate of car sales since Feb 2008.

Housing sales in July were the highest in 2 years.

The Dow Jones just hit a 5 year high.

The Nasdaq hit a 12 year high last month.

There seems to be movement going on.


I just bought a house last month and I can tell you that the market in Houston is very hot. prices have jumped substantially from only a year ago, and homes are getting snapped up quick. I lost out on several properties because they were snapped up before I could place a bid.

also, properties that have had constructions signs for years but sat undisturbed have finally started breaking ground and building all over town.

Last edited by rezznor : 10-18-2012 at 03:45 PM.
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Old 10-18-2012, 04:03 PM   #77
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Default Re: Unemployment Drops Below 8%, Conservatives Cry Conspiracy

Quote:
Originally Posted by joe
What do some choose to believe, and how is it not so?
Republicans say government spending doesn't create jobs (unless it's military contractors of course). Which, obviously, it does.

In addition, it gives people more experience... so when the government contract is up, they have a better chance to get a better job in the private world.
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Old 10-18-2012, 04:06 PM   #78
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Default Re: Unemployment Drops Below 8%, Conservatives Cry Conspiracy

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Originally Posted by joe
All you're doing in this scenario is shuffling the money around. Instead of the taxpayers having it, the construction workers have it. Instead of taxpayers giving money to the restaurant/bars of their choice, the construction workers give it to the restaurant/bars of their choice.

A. The construction workers would be taxpayers as well.
B. The restaurant or bars would have more available customers.

The way this is measured is the affect on GDP per dollar spent.
If you spend a dollar and GDP goes up a dollar twenty, then the multiplier effect is considered to be 1.2

Again, this is not a zero sum game.
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Old 10-18-2012, 04:07 PM   #79
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Default Re: Unemployment Drops Below 8%, Conservatives Cry Conspiracy

Quote:
Originally Posted by rezznor
I just bought a house last month and I can tell you that the market in Houston is very hot. prices have jumped substantially from only a year ago, and homes are getting snapped up quick. I lost out on several properties because they were snapped up before I could place a bid.

also, properties that have had constructions signs for years but sat undisturbed have finally started breaking ground and building all over town.

Apparently investors have moved in looking for bargains at the low end of the market.
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Old 10-18-2012, 04:18 PM   #80
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Default Re: Unemployment Drops Below 8%, Conservatives Cry Conspiracy

http://finance.yahoo.com/news/stocks...--finance.html


Quote:

NEW YORK (AP) — A mixed batch of earnings and economic reports pulled the stock market lower on Thursday. Google plunged 9 percent after it accidentally released a weak earnings report hours ahead of schedule.
The Dow fell 16 points to 13,541 as of 2:30 p.m. The Standard & Poor's 500 index slipped five points to 1,459.
"This is a market that's waiting for a clear catalyst," said Quincy Krosby, market strategist at Prudential Financial. What investors most want, she said, is a sense of direction. They hope companies will lay out clearly where earnings and the economy are headed.
"We basically know what happened in the last quarter," Krosby said. "What we're looking for is what's next: Are we turning a corner? Will demand pick up at the end of the year?"
Google's stock dropped $68.19 to $687.30 before trading was suspended. The company's earnings, which fell far short of analysts' forecasts, were supposed to be released after the market closed.
Falling prices for Internet advertisements and a loss from Motorola Mobility weighed on Google's earnings. The company blamed the publisher R.R. Donnelley for filing a draft of its quarterly report. The publisher's stock lost 1 percent, or 14 cents, to $10.71.
Facebook, which also relies on Internet ads, took a turn lower after Google released results. Its stock fell 87 cents, to $19.00.
Google's fall helped tug the Nasdaq composite down 34 points to 3,070.
American Express reported quarterly revenue late Wednesday that fell short of Wall Street's expectations even though earnings were in line. Amex said card holders' rate of spending has slowed in recent months. Its stock lost $1.59 to $57.78.
Strong profits for the insurer Travelers sent its stock up 4 percent. The company said Thursday that claims from catastrophes plunged compared to the same quarter last year, which helped earnings double. Travelers' stock gained $2.78 to $74.16.
BB&T bank, Philip Morris International and Boston Scientific all fell after reporting results that fell short of forecasts. Microsoft is scheduled to post earnings after the market closes.
Analysts expect S&P 500 companies to say that overall earnings shrank in the third quarter, according to S&P Capital IQ. That would be the first drop in exactly three years.
Weekly applications for unemployment benefits surged to a four-month high, a sharp rise from the previous week. The increase suggested rising layoffs, but the Labor Department pointed to technical reasons behind the swing, mainly delayed figures from one large state, California.
Better earnings from Johnson & Johnson and other companies, along with encouraging reports on industrial production and the housing market, have pushed the stock market higher this week. The Dow is up 1.6 percent and the S&P 500 index up 1.9 percent for the week.
In other trading, the yield on the 10-year Treasury note was 1.82 percent, the same as it was late Wednesday.
Among other stocks making big moves:
— EBay jumped $2.10 to $50.30 after posting better net income and sales late Wednesday, thanks to more revenue from its PayPal payments service and its online markets. The company also raised its full-year estimates for earnings and sales.
— Verizon Communications surged 99 cents to $45.71. The company said its wireless division, partially owned by Vodafone Group, signed up more customers in the quarter. Verizon said its customers also added more devices to its Share Everything plan.


There are positive signs towards recovery but as usual the latest news is a mixed bag. Still too much uncertainty.
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Old 10-18-2012, 04:18 PM   #81
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Default Re: Unemployment Drops Below 8%, Conservatives Cry Conspiracy

Quote:
Originally Posted by joe
What do some choose to believe, and how is it not so?

My point is that govt spending isn't always just shuffling money around. In the case of transfer payments, then that would be a zero sum game but govt spending us does create value in the same way a private firm would. Education and infrastructure are government funded and provide value beyond the dollar amount being taxed and spent. Arguing that society would be better off leaving things alone because private firms is another argument but you get my point.

As far as the multiplier effect and stimulus, it isn't simply shuffling money around because the money being pumped into the economy is borrowed which increases incomes w/o taxing others (which causes a whole other set of issues).
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