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The U.S. Economy: Are We Approaching The End Of The Recession?
The collective sigh of relief at 8:30 this morning was palpable – not least from President Obama and Ben Bernanke.
As I mentioned on Wednesday, this morning’s April job report from the Department of Labor set the market up for a significant day. And with the data showing that the U.S. lost 539,000 jobs during the month, compared with the revised total of 699,000 losses in March, it’s a clear sign that the most important driver of economic health is improving.
The stock market obviously cheered the news, and having expressed more optimism on the U.S. economy recently, both Obama and Bernanke will…
11May2009 | Smart Profits Report | 0 comments | ContinuedU.S. Economy: More Record Job Losses to Come
T.G.I.M (Thank goodness it’s March).
Unfortunately, that’s what investors were saying when they closed the books on January and times have only gotten worse. The economy is weaker; the markets are lower; consumers are more frightened; and businesses of all shapes and sizes continue to struggle.
February brought a comprehensive stimulus package, a blueprint for a complete budget overhaul, and several bailout plans. At some point, these ideas by the smartest men/women the country has to offer have got to start working (don’t they?). Analysts will be working overtime as data from housing, manufacturing, and labor is set to be reported. Bear…
2Mar2009 | Money Morning | 0 comments | ContinuedUnited States Economy Shrinks 3.8% in 4Q, More Pain Ahead
The U.S. economy shrank 3.8% – less than forecast – but still the biggest gross domestic product (GDP) slide since 1982.
For 2008, GDP rose 1.3%, the slowest pace since 2001’s 0.8% growth.
Most of the grim indicators of the third quarter – during which the economy shrank by 0.5% — deepened in the fourth. The largest contributors to the downturn were a continued fall in exports and a much larger decrease in equipment and software.
The most notable offset was a much larger decrease in imports, which increased inventories. Without such, GDP would have fallen a frightening 5.1%.
Overall…
30Jan2009 | Money Morning | 0 comments | ContinuedIMF lowers outlook for global economic growth
By CHRISTOPHER S. RUGABER
AP Economics Writer
(AP:WASHINGTON) The world economy will essentially come to a halt this year as more than $2 trillion of bad assets clog the financial system, the International Monetary Fund said Wednesday.
The global economy will grow by only 0.5 percent this year, the IMF said. That would be the slowest pace since World War II and is a sharp reduction from the IMF’s projection of 2.2 percent growth in November.
The IMF also raised its estimate of the total losses for banks and other financial services companies stemming from bad loans in the United States to $2.2 trillion,…
28Jan2009 | INO | 0 comments | ContinuedObama’s Stimulus Plan: When is There “Too Much†Stimulus?
The Congressional Budget Office’s announcement Wednesday that 2009’s budget deficit was going to be $1.19 trillion – before a nickel of President-elect Barack Obama’s stimulus plan has been included – raises a crucial question for the U.S. economy: Is there too much stimulus, and what effect would too much stimulus have?
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There is certainly more stimulus than in any previous recession. The benchmark Federal Funds rate is essentially at zero, which has never previously been attempted, while inflation is still…
9Jan2009 | Money Morning | 0 comments | ContinuedRecession Deepens as U.S. Economy Shrank 0.5% in Third Quarter
The U.S. economy shrank 0.5% in the third quarter, marking the slowing pace since 2001 and continuing a still deepening recession that has wrung the markets since last year.
Dana Saporta, an economist at Dresdner Kleinwort in New York, told Bloomberg projects a 5.4% overall contraction in the fourth quarter.
“Some of the factors that led to negative growth in the third quarter will be amplified this quarter,” Saporta said. “We have negative growth factored into our forecast through the first half” of 2009.
According to Commerce Department figures, consumer spending fell 3.8% in the third quarter, a sharp contrast from the…
25Dec2008 | Money Morning | 0 comments | ContinuedMy Friend and the United States Economy
I punched a good friend of mine yesterday.
In the face.
Well, let me rephrase that – I almost punched him in the face. Being the adventurous type, one evening this close friend (who we’ll call Hank – the name choice not entirely an accident), made a meager attempt to control his own finances by putting me under strict instruction to clock him square in the face should he attempt to spend more than a given dollar amount at an entertainment venue. Hundreds of dollars over his “limit”, I shamefully admit that I did not have the fortitude to slug my friend…
12Dec2008 | Oxbury Research | 0 comments | ContinuedChina should put conditions on US debt purchases
The nature of the current global financial crisis is the biggest debt crisis in America’s history. The issuer of the world’s reserve currency, the US has been borrowing for quite a long time without any limit. America’s trade, international payment and fiscal deficits have existed for over 40 years
To relieve the crisis, the US must repay its debts, and to do that it needs to live a more frugal life instead of asking others to continue lending it the money to maintain its over-consumption.
But if the US must ask China to buy some portion of its national debt, what…
China to Supplant U.S. as World’s Largest Manufacturer by Next Year
China will overtake the United States as the world’s largest producer of manufactured goods by next year, according to forecasts by economics consultancy firm Global Insight Inc. done on behalf of the Financial Times.
China will account for 17% of the world’s manufacturing value-added output next year, versus the United States’ 16%, the FT reported.
In 2007, the United States accounted for 20% of manufacturing output worldwide, while China made up just 13.2%. Also, last year, Global Insight predicted the United States would hold its top position until 2013, but a severe economic downturn has expedited China’s rise to the…
12Aug2008 | Money Morning | Comments Off | ContinuedVisitors from the Planet Thrift
Oh dear reader! This morning, we are practically panting…
The world economy is slowing down. The global financial system is falling apart.
The whole situation is a mess…a disaster for investors…a catastrophe for homeowners…a Waterloo for the financial industry. But it is God’s gift to us.
What fun it is to read the paper! So much nonsense! So many clowns! Such drivel…such claptrap…everything is working out just as we expected.
We had to put down our copy of the Financial Times this morning. We were afraid of internal hemorrhage. Besides, our eyes were watering so much we could barely see…
First…there is Ben Bernanke on…
17Jul2008 | Daily Reckoning | Comments Off | Continued
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