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Phoenix68

Back, Before The Average-Teabagger Could Read....

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U.S. $TOCK$ RALLY TO RECORD HIGHS!
August 1, 2013


"Stocks kicked off the month by rallying Thursday to all-time highs in the wake of upbeat economic signals from around the globe.

The Dow Jones Industrial Average busted out of a three-session losing streak, climbing 128.48 points, or 0.8%, to 15628.02, to top last week's record high."

 

http://www.4-traders.com/news/U-S-Stocks-Rally-to-Record-Highs--17145159/

 

 

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1 hour ago, sole result said:

Don't care. You are a fraud.

Fugg you then

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"Service industries in the U.S. expanded in July at the fastest pace in five months, a sign the worlds biggest economy will improve after slowing the last three quarters.

The Institute for Supply Management’s non-manufacturing index increased to 56, exceeding all forecasts in a Bloomberg survey, from a more than three-year low of 52.2 in June, a report from the Tempe, Arizona-based group showed today.

The figures follow the group’s report last week that showed manufacturing advanced at the fastest rate in more than two years, indicating the expansion is broadening. The recovery in the housing market and record equity values are bolstering household finances, laying the ground for a pickup in consumer spending on goods and services that account for about 70 percent of the economy.

“The pickup in July wasnt limited to the manufacturing sector,” said Brian Jones, senior U.S. economist at Societe Generale in New York, whose forecast of 55 was the highest forecast in the Bloomberg. “Things are picking up going into the third quarter of the year.”

Payrolls increased 162,000 in July, while the unemployment rate declined to 7.4 percent, the Labor Department reported last week.

Sales of new homes climbed in June to the highest level in five years. Prices increased in May from a year earlier by the most in more than seven years.

Automakers are on pace for their best showing in six years as job gains boost confidence and consumers replace older vehicles. Cars and light trucks sold at a 15.6 million annualized rate in July and 15.9 million the prior month, the strongest back-to-back readings since late 2007, according to figures from Ward’s Automotive Group."

 

 

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"The ratio of unemployed Americans to every job opening fell in June to its lowest level in over four years, a positive sign for wages and the broader economy.

That meant just under three workers sought each open job, marking a good deal of progress from the dark days of 2009, when the ratio was nearly seven workers per one job. The reading in June was the lowest since October 2008.

Lots of unemployed people chasing just a few jobs means employers have more leverage setting wages, and helps explain some of the recent weakness in U.S. incomes."

 

 

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"Americans have made progress putting their finances in order and are ready to borrow again -- giving the world’s largest economy another driver of spending and growth.

Household net worth soared to a record high in the first quarter, Federal Reserve data show, and the financial-obligations ratio relating consumer debt to income matched the lowest in 33 years. Consumer loans are rising, and the American Bankers Association reports the share of delinquencies on bank cards is the smallest since 1990.

“Household finances are in the best shape in decades,” said Joseph Carson, director of global economic research at AllianceBernstein LP in New York, with $435 billion in assets under management. “We now have a creditworthy borrower. It’s a powerful ingredient” for the U.S. expansion and “definitely a step up from where we have been.”

Credit is thawing gradually for residential mortgages, one reason new-home purchases in June reached the highest since 2008. Lenders also are easing standards for auto loans to expand the pool of buyers and drum up more business. That has put car sales on track for the best pace since 2007, helping companies including General Motors Co., Ford Motor Co. and parts maker Lear Corp. to report better-than-estimated earnings."

 

 

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"U.S. home resales jumped in July to their highest level in over three years, suggesting a sharp increase in borrowing costs is having only a limited impact on the housing market's recovery.

The National Association of Realtors said on Wednesday that existing home sales jumped 6.5 percent to an annual rate of 5.39 million units.

That was above analysts' expectations and could make the Federal Reserve more comfortable with its plans to wind down a major economic stimulus program. Plans to end the program have already pushed mortgage rates higher."


 

 

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18 minutes ago, Zaro said:

Fugg you then

It is what your ancestral ideology has been trying to do since before you joined.  Different disciple same semantics.

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"The fewest workers in more than five years applied for U.S. unemployment benefits over the past month, indicating the labor market continues to improve.

The number of claims in the month ended Aug. 17 declined to 330,500 a week on average, the least since November 2007, a Labor Department report showed today in Washington. Compared with a week earlier, claims rose by 13,000 to 336,000, in line with the median forecast of 48 economists surveyed by Bloomberg.

Firings are waning as employers hold on to workers to meet sales, which may be a precursor to bigger gains in payrolls once the effects of federal budget cuts and higher payroll taxes fade in the second half of 2013. Growth in employment, together with rising incomes, will help buoy consumer confidence and spending, which accounts for about 70 percent of the economy.

There is “legitimate improvement in the labor market,” said Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania. “It’s more important to put the emphasis on the trend in claims, which remains favorable.”

 

 

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Farmers Kickin'-BUTT!!
August 27, 2013


"Net farm income in the United States will reach $120.6 billion this year, up 6 percent and the second highest since 1973 when adjusted for inflation, the Department of Agriculture said on Tuesday."

 

 

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"Manufacturing is poised to make a bigger contribution to the U.S. expansion after a factory barometer unexpectedly climbed in August to the highest level in more than two years.

American producers are leading a global manufacturing recovery that stretches from China to Europe as their economies improve. Resilient U.S. demand for motor vehicles is prompting companies such as Ford Motor Co. (F) to expand, while further strides in construction are bolstering orders for building materials, appliances and furniture.

“It’s going to be a solid quarter for U.S. manufacturing,” said Brian Jones, a senior economist in New York at Societe Generale, who projected a reading of 55.8. “Businesses are expanding production not only to meet demand but to also build inventories. Manufacturing worldwide is impressing to the high side.”

 

 

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"U.S. auto sales were on a pace to show a gain as high as 17 percent in August as the industry raced toward its strongest month since just before the start of the 2007-2009 recession.

Last month's sales will top 16 million vehicles on a seasonally adjusted annualized basis, several automakers said, which would be the first time U.S. sales topped that level since November 2007.

General Motors Co said August auto sales were 16.3 million vehicles on a seasonally adjusted annualized basis.

This would easily top the 15.8 million annualized sales rate forecast by 45 analysts surveyed by Thomson Reuters.

Consumers, driving vehicles that are on average more than 11 years old, are securing cheap financing to buy new cars and trucks, said Ken Czubay, Ford Motor Co U.S. sales chief. He said automakers were aggressive in their Labor Day weekend marketing, which boosted sales for the last three days of August.

GM's chief economist, Mustafa Mohatarem, said that the 16 million seasonally adjusted annualized rate is more impressive now than it was before the recession, when surpassing that milestone was routine.

"The 16 million right now reflects the underlying fundamentals of the economy," Mohatarem said, adding that there were a lot of incentives, which lower the price but cost profit for manufacturers, before the recession."

 

 

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Jobless Claims Drop By 9,000
September 5, 2013

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"The number of Americans seeking unemployment benefits dropped 9,000 last week to a seasonally adjusted 323,000, near the lowest level since June 2008.

The figure shows employers are laying off fewer and fewer workers, an encouraging sign one day before the government will issue its August jobs report."

 

 

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U.S. Jobless Rate; 7.3%!!!!
September 6, 2013

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"The economy added 169,000 net new jobs last month and the unemployment rate ticked down to a near post-Great Recession low of 7.3%, its lowest level since the end of 2008, the Labor Department said Friday.

The job growth in August was slightly below analyst expectations though roughly in line with the average monthly gains this year."

 

 

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"Signaling a possible thaw in long-frozen relations, the Obama administration and the new leadership in Iran are communicating about Syria and are moving behind the scenes toward direct talks that both governments hope can ease the escalating confrontation over Tehran's nuclear program.

President Obama reportedly reached out to Iran's relatively moderate president, Hassan Rouhani, through an exchange of letters in recent weeks. The pragmatist cleric is scheduled to address the United Nations General Assembly on Sept. 24, and after years of the United States cold-shouldering his ultraconservative predecessor, U.S. officials say it's possible they will meet with Rouhani on the sidelines."

 

 

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"U.S. home resales surged in August to a 6-1/2-year high and factories grew busier in the Mid-Atlantic region this month, signs that rising borrowing costs are weighing only modestly on the economy.

The data released on Thursday could make the Federal Reserve more willing to reduce a bond-buying stimulus program. The Fed had flagged concerns over a sharp increase in interest rates when it shocked investors on Wednesday by keeping the program at full throttle.

Last month, sales of existing homes grew 1.7 percent, the National Association of Realtors said. That took sales to an annual rate of 5.48 million units, the highest level since early 2007 when a housing bubble was deflating and the economy was sliding toward its deepest recession in decades.

The report confounded analysts who had expected higher interest rates would lead to a decline in resales. Mortgage rates have risen more than a percentage point since Fed Chairman Ben Bernanke hinted in May that the central bank could begin reducing monthly bond purchases soon.

"Overall, these reports point to a sustained pick-up in economic growth momentum," said Millan Mulraine, an economist at TD Securities in New York."

 

 

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"The U.S. jobless rate is set to drop further and possibly faster over the coming six months, according to research published Tuesday by the Federal Reserve Bank of San Francisco.

That encouraging outlook could bolster the case for the U.S. central bank to ease up on its monetary gas pedal, currently pushed nearly to the floor to drive down borrowing costs and stimulate investment and hiring.

The Fed is buying $85 billion in Treasuries and housing-backed securities each month It has promised to keep buying assets until the labor market outlook improves "substantially."

Many investors, cheered by a decline in the unemployment rate over the past year, last month thought the Fed was ready to trim the pace of its purchases.

Fed Chairman Ben Bernanke surprised them by holding the program steady, saying he wants to see more confirmation that the job market is improving before dialing back the program.

Researchers at the San Francisco Fed scoured available gauges of job market health, and found six that are particularly predictive of future labor market conditions. All six, in fact, give a better signal of where the unemployment rate will be half a year down the line than the current unemployment rate itself, they said. And all six, they found, had improved since the Fed began buying bonds last September.

"Across the board, these indicators show the pace of the labor market recovery has increased compared with a year ago," wrote Mary Daly, the San Francisco Fed's deputy research director, and colleagues Bart Hobijn and Benjamin Bradshaw. "We take this as evidence that the recovery in the labor market is robust, broad-based, and likely to continue, if not accelerate, over the coming months."

 

 

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"The United States has overtaken Saudi Arabia to become the world's biggest oil producer as the jump in output from shale plays has led to the second biggest oil boom in history, according to leading U.S. energy consultancy PIRA.

U.S. output, which includes natural gas liquids and biofuels, has swelled 3.2 million barrels per day (bpd) since 2009, the fastest expansion in production over a four-year period since a surge in Saudi Arabia's output from 1970-1974, PIRA said in a release on Tuesday.

It was the latest milestone for the U.S. oil sector caused by the shale revolution, which has upended global oil trade. While still the largest consumer of fuel, the rise of cheap crude available to domestic refiners has turned the United States into a significant exporter of gasoline and distillate fuels."

 

 

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"As problems go, the U.S. trucking industry is facing a good one. Thanks to a gushing oil industry and a homebuilding renaissance, everyone needs trucks. The industry, however, is running short on supply—specifically drivers.

Trucking outfits are bristling under new federal rules that drastically constrain how long drivers can stay on the road. Since July 1, truckers have been limited to about 70 hours of driving per week, down from 82 hours. And new rest requirements limit how much they can drive in the small hours of the morning, when roads are relatively empty.

Even before the new rules took hold, capacity was tight. At the height of the Great Recession, truck fleets at transportation giants FedEx , UPS, and Swift Transportation had 85,000 more drivers than they needed; today these companies are about 211,000 bodies short, according to estimates by FTR Associates, a freight logistics firm in Indiana."

 

 

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Where Truck??
THERE TRUCK!!

October 11, 2013

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"Only a few dozen independent truckers were spotted on rain-swept highways around the nation's capital Friday morning at the beginning of a purported three-day "Ride for the Constitution" rolling protest seeking to impeach President Obama and pressure Congress.

There were no signs that the trucks were slowing down traffic any more than normal on the congested capital area highway, particularly during steady rain.

Video cams on I-495, which circles the city, and I-95, which runs north and south through the region, showed normal traffic at mid-morning."

 

 

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Obama UN-Caps THE GULF!!!
October 28, 2013

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"The Gulf of Mexico, stung by the worst offshore oil spill in U.S. history in 2010 and then overshadowed by the onshore fracking boom, is on the verge of its biggest supply surge ever, adding to the American oil renaissance.

Over the next three years, the Gulf is poised to deliver a slug of more than 700,000 barrels per day of new crude, reversing a decline in production and potentially rivaling shale hot spots like Texas's Eagle Ford formation in terms of growth.

 

Rising domestic production and the start of natural gas exports may transform the economy and realign geopolitics as U.S. reliance on foreign oil declines.

 

The resurgence in the Gulf is occurring even though the U.S. government imposed stringent safety and environmental rules after BP Plc’s (BP.L) Macondo spill."

 

 

Previously.....

 

 
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Let Our Oil GO!!!
July 7, 2010

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"There are more than 27,000 abandoned wells in the Gulf of Mexico, according to AP, of which 600 belonged to BP.

The oldest of these abandoned wells dates back to the late 1940s and the investigation highlights concerns about the way in which some of them have been plugged, especially the 3,500 neglected wells that are catalogued by the government as "temporarily abandoned". The rules for shutting off temporarily closed wells are not as strict as for completely abandoned wells.

Regulations for temporarily abandoned wells require oil companies to present plans to reuse or permanently plug such wells within a year, but AP found that the rule is routinely circumvented, and that more than 1,000 wells have lingered in that unfinished condition for more than a decade. About three-quarters of temporarily abandoned wells have been left in that status for more than a year, and many since the 1950s and 1960s.

 

 

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