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Originally posted by rue:
"And you never did answer my question about how long it took you to find this thread again"

Less than a minute. I know how to do efficient searches.

So to YOU it doesn't matter that the economy is tanking now ? Is that what you're implying ?

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Originally posted by AURaptor:
The economy isn't 'tanking' now. That's only the talk of scared little people who don't see the big picture.

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Household incomes rise but ...
Census Bureau reports slight rise in 2006 incomes but as a group, households aren't doing as well as before the 2001 recession August 28 2007

NEW YORK (CNNMoney.com) -- Household income crept higher and the poverty rate edged lower last year, the government said Tuesday, while the number of Americans without health insurance rose by 2.2 million to 47 million people.

Median household income rose 0.7 percent to $48,200, adjusted for inflation, the Census Bureau reported. But more people had to be at work in each household to get there.

That's because median earnings for individuals working full-time year-round actually fell for the third consecutive year. For men, earnings slipped 1.1 percent to a median of $42,300, while for women, earnings sank 1.2 percent to a median of $32,500. The percent of Americans living below the poverty line, meanwhile, slipped to 12.3 percent in 2006, or about 36.5 million people, from 12.6 percent, or 37 million, the year before. The drop in the number of people living in poverty is not a statistically significant change, but the rate of decline is, and while it is the first drop since 2000, the poverty rate is still above the 11.7 percent rate during the last recession in 2001.

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Originally posted by SignyM:
It's like WMD. Some people only see what they want to see....

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Always look upstream.

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Originally posted by AURaptor:
( Just more fuel for the economy which is on FIRE! )

U.S. Stocks Rise on Verizon Profit; S&P 500 Nears 5-Year High

May 2 (Bloomberg) -- U.S. stocks rose as earnings from Verizon Communications Inc. exceeded analysts' forecasts, easing concern that higher interest rates may curb profit growth. The Standard & Poor's 500 Index reached an almost five-year high.

TXU Corp. led a rebound in utility shares as the largest Texas power producer said profit climbed on higher electricity prices. A drop in Treasury yields also boosted the group.

Emerson Electric Co., the world's biggest maker of power supplies for telecommunications systems, and Archer Daniels Midland Co., the No. 1 grain processor, joined Verizon in reporting results that topped Wall Street's expectations.

``We still keep seeing better-than-expected earnings,'' said Cummins Catherwood, who helps manage $800 million at Walnut Asset Management in Philadelphia. Companies such as Verizon and Emerson are ``posting some impressive stuff. That gives me encouragement about our economy.''

The S&P 500 added 7.46, or 0.6 percent, to 1312.65 at 2:18 p.m. in New York, the highest since May 21, 2001. The Dow Jones Industrial Average rose 74.76, or 0.7 percent, to 11,418.05. The Nasdaq Composite Index gained 5.70, or 0.3 percent, to 2310.49.

Stocks reached their highs in early afternoon trading as Treasury yields fell to their lows on the day and a gain in oil prices lifted energy shares.

Almost two stocks rose for every one that fell on the New York Stock Exchange. Some 1.14 billion shares changed hands on the Big Board, in line with the same time a week ago.

Exceeding Forecasts

Better-than-expected reports have lifted the earnings growth rate for S&P 500 companies in the first quarter to 14.1 percent, from 13.6 percent a week ago, according to Merrill Lynch & Co. chief market analyst Mary Ann Bartels.

Stocks made up most of their declines from a day ago, when remarks attributed to Fed Chairman Ben S. Bernanke suggested the central bank may not pause its series of 15 straight interest rate increases soon.

People love a happy ending. So every episode, I will explain once again that I don't like people. And then Mal will shoot someone. Someone we like. And their puppy. - Joss

" They don't like it when you shoot at 'em. I worked that out myself. "

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Originally posted by Storymark:
You folks are missing the point. The Republicans say the economy is strong, so it is. End of story. Now do as you're told and shut the hell up.

Though, from this Admin's point of view, the economy is strong. Oil companies are raking it in, the rich are getting richer, and to hell with anyone without a yacht.

"I thoroughly disapprove of duels. If a man should challenge me, I would take him kindly and forgivingly by the hand and lead him to a quiet place and kill him."

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Originally posted by SIGNYM:
Wow, THAT'S a blast from the past!

Rappy, in 2007, claiming the economy's on fire (or words to that effect). heh heh heh

And despite the fact that he got his ass handed to him on WMD, this topic, Bush's Constitutional violations (he was OK with them then) and torture... he's like a Timex: Takes a lickin' and keeps on tickin'. Hasn't learned a thing.

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Originally posted by AURaptor:
( Just more fuel for the economy which is on FIRE! )

U.S. Stocks Rise on Verizon Profit; S&P 500 Nears 5-Year High

May 2 (Bloomberg) -- U.S. stocks rose as earnings from Verizon Communications Inc. exceeded analysts' forecasts, easing concern that higher interest rates may curb profit growth. The Standard & Poor's 500 Index reached an almost five-year high.

TXU Corp. led a rebound in utility shares as the largest Texas power producer said profit climbed on higher electricity prices. A drop in Treasury yields also boosted the group.

Emerson Electric Co., the world's biggest maker of power supplies for telecommunications systems, and Archer Daniels Midland Co., the No. 1 grain processor, joined Verizon in reporting results that topped Wall Street's expectations.

``We still keep seeing better-than-expected earnings,'' said Cummins Catherwood, who helps manage $800 million at Walnut Asset Management in Philadelphia. Companies such as Verizon and Emerson are ``posting some impressive stuff. That gives me encouragement about our economy.''

The S&P 500 added 7.46, or 0.6 percent, to 1312.65 at 2:18 p.m. in New York, the highest since May 21, 2001. The Dow Jones Industrial Average rose 74.76, or 0.7 percent, to 11,418.05. The Nasdaq Composite Index gained 5.70, or 0.3 percent, to 2310.49.

Stocks reached their highs in early afternoon trading as Treasury yields fell to their lows on the day and a gain in oil prices lifted energy shares.

Almost two stocks rose for every one that fell on the New York Stock Exchange. Some 1.14 billion shares changed hands on the Big Board, in line with the same time a week ago.

Exceeding Forecasts

Better-than-expected reports have lifted the earnings growth rate for S&P 500 companies in the first quarter to 14.1 percent, from 13.6 percent a week ago, according to Merrill Lynch & Co. chief market analyst Mary Ann Bartels.

Stocks made up most of their declines from a day ago, when remarks attributed to Fed Chairman Ben S. Bernanke suggested the central bank may not pause its series of 15 straight interest rate increases soon.

People love a happy ending. So every episode, I will explain once again that I don't like people. And then Mal will shoot someone. Someone we like. And their puppy. - Joss

" They don't like it when you shoot at 'em. I worked that out myself. "

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Originally posted by SignyM:
It shouldn't have taken a brainiac to see THIS coming....

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MORTGAGE CRISIS OVERHELMING CREDIT COUNSELORS

... Phones at credit counselors across the country are now ringing off the hook. The industrial heartland has been particularly hard-hit. Ohio had the highest number of home foreclosures in 2006, while neighboring Michigan and Indiana -- all sideswiped by the faltering U.S. auto industry -- were close behind.

Housing analysts predict between 1 million and 3 million U.S. homes will be foreclosed upon in 2007. Already a wave of defaults on subprime mortgages held by those with poor credit have caused a crisis in parts of the industry, and some economists believe a recession could result.

"We knew it was going to be bad, but we didn't think it would be this bad," said Britton, echoing many who warned that increasingly exotic mortgage programs -- including those that required no down payment on home purchases --would come back to haunt home buyers.

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www.cnn.com/2007/US/03/22/subprime.counselors.reut/index.html

The economy has been running on consumption bouyed by refinancing based on rising home prices based on low interest rates. But if rising interest rates tank aggregate demand, then the economy goes south. The Fed "fix" is to lower interest rates. Which lowers the value of the dollar. SO in areas where the USA is competing internationally for commodities, goods, and services- such as oil, chemicals, and software engineering- then those commodities become relatively more expensive.

Hmmm... I'm glad I invested in foreign currency and gold. It'll be interesting to see who that works out.

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Reality sucks. Especially when it contradicts our cherished ideas.

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