Ka-BOOM!

[jefelump]

from Arne:
Inflation meassurement in the US is highly criticised in Europe

As many things in Europe are highly criticized in the US. I guess we're all sharing the love...

[dude1394]

I wonder if our unemployment rate (~5%) is also criticized in the EU (8.4%) as well.

According to the Eurostat, EU's statistical agency, the jobless rate in the 12-nation single currency union stayed at 8.4% in January, unchanged from the month before, despite analysts' prediction of 0.2% rise.

[Arne]

Originally Posted by dude1394

I wonder if our unemployment rate (~5%) is also criticized in the EU (8.4%) as well.

Well, in the midst of the housing crisis/credit crunch your government reported that there were jobs being created in the financial sector... Anyways, I don't care. It's your government and you can believe it all you want.

[dude1394]

Originally Posted by Arne

Well, in the midst of the housing crisis/credit crunch your government reported that there were jobs being created in the financial sector... Anyways, I don't care. It's your government and you can believe it all you want.

Believe what dude? Are you saying that all of the financial institutions in the world is in some sort of conspiracy? Do you not think that if the guvment were blowing smoke up buffets' ass that he wouldn't be spouting off about it all over the place????

Sheesh...it's data, it's either valid or not, but I don't see forbes, wsj or the european guvments yacking about that it's fudged books.

So there were jobs created in the financial sector, that's after about three months ago when there were big layoffs. This economy creates and deletes entire industries.

[Arne]

Originally Posted by jefelump

As many things in Europe are highly criticized in the US. I guess we're all sharing the love...

Thanks for listening to the arguement, instead of just posting some pointless shit... Oh wait...

[Fidel]

Originally Posted by madape

Get ready for four years of the greatest economic expansion in US history. BOOOOOOOOOOOOOOM!

Hurricanes Jump-Start Hiring in October

Nov 5, 9:09 AM (ET)

By LEIGH STROPE

WASHINGTON (AP) - Employers aggressively hired new workers in October, adding 337,000 people to their payrolls after a sluggish summer, but the unemployment rate rose fractionally to 5.5 percent.

The pace of hiring was the fastest in six months, nearly double what economists had forecast, the Labor Department reported Friday, saying cleanup efforts from hurricanes that struck Florida and much of the Southeast helped jump-start the labor market.

But the overall, seasonally adjusted jobless rate actually rose by 0.1 percentage point from the 5.4 percent rate of September because more people renewed their job searches, expanding the pool of available workers.

The jobs report was good news for President Bush as he prepares for a second term. A generally weak job market plagued his re-election campaign, offering a political target to his Democratic challenger, John Kerry.

Economists had expected October payrolls to grow by about 175,000 with the jobless rate holding steady at 5.4 percent. Employers have added about 2.2 million jobs since August 2003.

Hiring in construction helped spur last month's job growth, with employment in that sector rising by a net 71,000 jobs.

"Some of this unusually large gain reflected rebuilding and cleanup activity in the Southeast following the four hurricanes that struck the U.S. in August and September," said Kathleen Utgoff, commissioner of the Bureau of Labor Statistics.

In the past year, construction employment has grown by about 16,000 per month.

New jobs in professional and business services also helped strengthen overall job growth last month, with hiring expanding by 97,000. Temporary employment services were responsible for about half of that, giving ammunition to Bush critics who argue that much of the recent job growth is occurring in lower-paying work that typically doesn't offer heath insurance and other benefits.

October's job growth was the highest since March, when employers added 353,000 positions. Since that time, the pace had slowed, especially in June and July. But hiring has picked up since, growing by a revised 198,000 in August and 139,000 in September. Both figures were higher than originally reported by the Labor Department.

Manufacturing was the only major sector to lose jobs last month, with employment falling by a net 5,000. That followed a decline of 14,000 in September.

Some of the report showed a jobs market still struggling. The number of people who held more than one job rose by 519,000 to 8 million. The average time for the unemployed to find a job was 19.6 weeks, the same as in September.

The jobless rate for blacks jumped to 10.7 percent last month, up from 10.3 percent in September. The rate for Hispanics fell to 6.7 percent from 7.1 percent from the previous month, while the rate for teenagers grew to 17.2 percent from 16.6 percent. The rate for whites held at 4.7 percent.

But the economy is back on track, growing at a 3.7 percent annual rate in the third quarter, up from a 3.3 percent pace in the prior period.

Analysts think Federal Reserve policy-makers will continue to move rates from extraordinarily low levels to more normal levels to make sure inflation doesn't become a threat to the economy down the road.

The Fed is expected to boost short-term interest rates for a fourth time this year when it meets next week, pushing up a key rate from 1.75 percent to 2 percent.

LOL ?

[Arne]

Originally Posted by Fidel

LOL ?

Yes, lol. It's called the broken window theory and it is completely stupid. Renewing the wealth the country once had by using resources that could've been used for real standart of living increases is seen as the cure to the economy. Tell kindergarden kids that smashing windows is a good thing because it will help make the economy grow and look how they react, that's all you need to know.

[Fidel]

Originally Posted by Arne

Yes, lol. It's called the broken window theory and it is completely stupid. Renewing the wealth the country once had by using resources that could've been used for real standart of living increases is seen as the cure to the economy. Tell kindergarden kids that smashing windows is a good thing because it will help make the economy grow and look how they react, that's all you need to know.

I was referring to the thread title and "Get ready for four years of the greatest economic expansion in US history. BOOOOOOOOOOOOOOM!" mostly. I thought about this thread in light of recent developements and the discussion here. I have to tell you your analysis of the situation in this and other threads has been pretty much spot on. I´ve never been motivated enough to discuss political and economic topics with most of the people on this board since they won´t move an inch from their mostly extreme positions anyways. But it´s allways interesting what you (and some other posters) have to say.

[rabbitproof]

Small government, limiting powers.. real conservative, yeah?

--

Gov't rushing to finish huge financial rescue plan
Friday September 19, 12:24 pm ET
By Jeannine Aversa and Julie Hirschfeld Davis, Associated Press Writers
Bush administration wants hundreds of billions, new powers ASAP to attack financial crisis

WASHINGTON (AP) -- The Bush administration sketched out a multi-faceted effort on Friday to confront the worst U.S. financial crisis in decades, outlining a program that could cost taxpayers hundreds of billions of dollars to buy up bad mortgages and other toxic debt that has unhinged Wall Street.

President Bush, flanked by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, acknowledged that the program will put a "significant amount of taxpayers' money on the line."

The administration is asking Congress to give it sweeping new powers to execute the plan. Paulson said it "needs to be big enough to make a real difference and get to the heart of the problem."

Rest of it: http://biz.yahoo.com/ap/080919/financial_meltdown.html

[Flacolaco]

All the more reason to vote McCain. No more bail outs.

[rabbitproof]

I have to admit that is a strong point for McCain and in that area, I fall strongly on the McCain side (let the market do what it do). I also like McCain's comments regarding the Federal Reserve and how it should stick to managing our currency but unfortunately for McCain, most of the other cards are leaning the other way for me (international policy, social issues, ludicrous VP pick).

I also can't honestly say I trust a Republican to say what they would do right now.. the article "Conservative for Obama", which I posted in the Hussa thread, does a good job of explaining why.

[mcsluggo]

one of the worst threads in interwebs history