The pathetic notion set forth by the National Bureau of Economic Research group that the recession has been over since 2009 can't even be taken seriously.
While they attempt to say they took other things into consideration, the key factor was the GDP. The problem and joke with that is throwing of money at the problem via the stimulus is included in the jacked up numbers of the GDP, giving the illusion of a recovery.
That's why when the gimmicks and money ran out, the naked economy was revealed to be what it continues to be: recessionary, and possibly heading to a depression.
The usual attempt to slap this type of garbage down by pointing to the obvious in relationship to no jobs being created is largely ignored, and simply identified as historically being a "lagging indicator." That was also said concerning the depressed housing market as well, among other lagging indicators.
Bizarrely they said the continuing downturn in the US could inflict long-term damage on the economy, resulting in long-term unemployment. All of this with no recession. Amazing how bad things can get in a "recovery."
One thing I do like that these people publicly stated was if there is an economic downturn, it'll be a new recession, not a continuation of the one that allegedly is over.
What time will surely tell - and hopefully will result in the removal of these people who aren't anybody from being taken seriously as economists - is the recession in fact never ended, and covering their rearends by saying if there is a new recession it's not connected to the old one, will expose their agenda and intentions.
That statement that if there is another recession it's a new one, is meaningless. We must accept their conclusion they're telling us, and they're actually trying to control the future outlook for the ongoing recession by saying it will be a new one.
In other words, it's an attempt to protect Keynesianism. If the stimulus is said to have failed, and the recession has continued on, it blows away the anemic economic theory on the spot, leaving even more confusion and needed explanations as to what is really going on.
The answer to economic weakness isn't the government or central banks, it's the removal of barriers to businesses and allowing the free market to thrive.
There can be no doubt we're still in a recession, and no manipulation of the numbers or data can change that fact. Happy days aren't here again, and there is no yellow brick road to follow. As a matter of fact we can rightly say, "goodbye yellow brick road."
Showing posts with label Jobless Claims. Show all posts
Showing posts with label Jobless Claims. Show all posts
Tuesday, September 21, 2010
Thursday, August 19, 2010
Teck (NYSE:TCK), Freeport (NYSE:FCX) Fall on Weak Economic Data
Teck Resources(NYSE:TCK) and Freeport-McMoRan Copper & Gold (NYSE:FCX) fell today as jobless claims in the U.S., as expected by Commodity Surge, increased again, this time to about 500,000.
The other bad economic news was the manufacturing in the Philadelphia area dropped fro the first time in a year, according to the Federal Reserve.
With increasing confirmation the recession is continuing on, concerns over how that will impact demand for raw materials is putting downward pressure on commodity companies and miners.
The positive side for those miners with strong gold exposure is this will cause misguided politicians and governments, especially the U.S. government, to print more money and buy up its own debt, making gold an even stronger performer in the years ahead.
China has, and will continue to, be the major importer of most commodities. And they will determine much of how companies like Teck and Freeport will perform going forward.
The other bad economic news was the manufacturing in the Philadelphia area dropped fro the first time in a year, according to the Federal Reserve.
With increasing confirmation the recession is continuing on, concerns over how that will impact demand for raw materials is putting downward pressure on commodity companies and miners.
The positive side for those miners with strong gold exposure is this will cause misguided politicians and governments, especially the U.S. government, to print more money and buy up its own debt, making gold an even stronger performer in the years ahead.
China has, and will continue to, be the major importer of most commodities. And they will determine much of how companies like Teck and Freeport will perform going forward.
New Jobless Claims Rise Again as Recession Continues
The idea that we ever left the recession is increasingly being realized and proven from data, especially as we see the jobless claims continue to rise now that the stimulus money is out of the picture.
What happened is the hundreds of billions of dollars only masked and covered up the ongoing recession, giving the illusion things had changed for the better.
It's like taking a pain pill and believing because you covered the symptoms of your problem, the problem itself has been taken care of.
The economy isn't going into a double-dip recession, it's simply continuing on with the recession that has in fact never left.
With the government irresponsibly hiring people in order to make it look like the employment numbers were better than we thought, that has unraveled as the private sector is letting go people, not hiring.
This is an issue because someone has to pay for those government workers, and if the private sector isn't able to do it, that only leaves the printing of more money by the Federal Reserve and buying of U.S. debt.
That is a disaster which will continue to debase the U.S. dollar and rack up even more debt the country already can't afford.
As usual, the government is only making the situation worse, and they should have left their hands off of the recession and let things run their course.
Now they're extending it by artificially propping up the data, which backfired because they were hoping to buy time in which they believed the economy would recover, and the focus wouldn't be on what they did because people would be happy things were better.
That didn't happen, and the importance of going back to limited government and getting out of the way of the private sector doing their job is being seen as vital to the future health of the United States of America.
What happened is the hundreds of billions of dollars only masked and covered up the ongoing recession, giving the illusion things had changed for the better.
It's like taking a pain pill and believing because you covered the symptoms of your problem, the problem itself has been taken care of.
The economy isn't going into a double-dip recession, it's simply continuing on with the recession that has in fact never left.
With the government irresponsibly hiring people in order to make it look like the employment numbers were better than we thought, that has unraveled as the private sector is letting go people, not hiring.
This is an issue because someone has to pay for those government workers, and if the private sector isn't able to do it, that only leaves the printing of more money by the Federal Reserve and buying of U.S. debt.
That is a disaster which will continue to debase the U.S. dollar and rack up even more debt the country already can't afford.
As usual, the government is only making the situation worse, and they should have left their hands off of the recession and let things run their course.
Now they're extending it by artificially propping up the data, which backfired because they were hoping to buy time in which they believed the economy would recover, and the focus wouldn't be on what they did because people would be happy things were better.
That didn't happen, and the importance of going back to limited government and getting out of the way of the private sector doing their job is being seen as vital to the future health of the United States of America.
Thursday, April 15, 2010
Labor, Housing Data Show Economy Still a Disaster
Data released concerning labor and housing confirm if we're in a recovery, it's now one that's sustainable, as another 24,000 applied for unemployment benefits for the first time and 35 percent more homes were foreclosed upon than in the same quarter last year.
So now we have a so-called jobless and foreclosure recovery.
As far as the jobless claims, every time we hear the numbers now the inclusion by the mainstream media is that it was unexpected. Well how come it's not unexpected to me and others, and I state it before it happens to confirm that.
Either productivity is so high with businesses that it's unprecedented, or the numbers are again being massaged to say what the Obama administration wants them to say.
Foreclosures reflect the weak housing and job market, while the job market reflects the fact that there is little hiring going on, if any at all, other then isolated instances.
I'm not convinced we're even out of a recession, let alone started on the road to recovery. Just because we hear some positive earnings reports doesn't mean a thing in relationship to the state of the U.S. economy, all that means is a lot of company continue to cut costs, not that they're able to raise margins to generate more profits from increased business.
There's nothing unexpected about any of this, and it will continue on for at least a year or more before there is really an turnaround, if it comes at all within that timeframe.
So now we have a so-called jobless and foreclosure recovery.
As far as the jobless claims, every time we hear the numbers now the inclusion by the mainstream media is that it was unexpected. Well how come it's not unexpected to me and others, and I state it before it happens to confirm that.
Either productivity is so high with businesses that it's unprecedented, or the numbers are again being massaged to say what the Obama administration wants them to say.
Foreclosures reflect the weak housing and job market, while the job market reflects the fact that there is little hiring going on, if any at all, other then isolated instances.
I'm not convinced we're even out of a recession, let alone started on the road to recovery. Just because we hear some positive earnings reports doesn't mean a thing in relationship to the state of the U.S. economy, all that means is a lot of company continue to cut costs, not that they're able to raise margins to generate more profits from increased business.
There's nothing unexpected about any of this, and it will continue on for at least a year or more before there is really an turnaround, if it comes at all within that timeframe.
Thursday, April 8, 2010
US Jobless Claims Rise Last Week
I always include this as part of the economic data talked about here on Commodity Surge, as the inclusion of the term unexpected, again, has been applied to the increase, in this case, of jobless claims.
Every time this is said, it's a form of manipulation to imply it's a shock that things are bad, when in fact there really has never been a true recovery, and we're still in the midst of a recession. This is why the term unexpected is used, to make it look like it's not the norm, when if fact it actually is.
Anyway, the number of jobless claims rose by 18,000 to reach 460,000 last week ending on April 3, according to data released from the Labor Department.
Analysts were surprised by the data, but I'm not sure why. Are they believing their own hype and wishful thinking? Are they in complete denial? It seems so.
This isn't rocket science, and the idea we have turned the corner in the recession is one that is based on theory and not reality, as these jobless claims numbers show. Quit pretending it's unexpected, as you can only save that word so many times before you look incompetent or like you're outright lying.
Every time this is said, it's a form of manipulation to imply it's a shock that things are bad, when in fact there really has never been a true recovery, and we're still in the midst of a recession. This is why the term unexpected is used, to make it look like it's not the norm, when if fact it actually is.
Anyway, the number of jobless claims rose by 18,000 to reach 460,000 last week ending on April 3, according to data released from the Labor Department.
Analysts were surprised by the data, but I'm not sure why. Are they believing their own hype and wishful thinking? Are they in complete denial? It seems so.
This isn't rocket science, and the idea we have turned the corner in the recession is one that is based on theory and not reality, as these jobless claims numbers show. Quit pretending it's unexpected, as you can only save that word so many times before you look incompetent or like you're outright lying.
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