Via Paul Krugman comes this graphic illustrating via global industrial production how the policies of Obama are pulling us out of the economic death spiral that started on Bush’s watch.
Economy News
Meet Your Camp Counselor, Jason Voorhees
November 2nd, 2009
1 Comment
Ed Lazear was an economic adviser to the Bush administration, and now he thinks he can backseat drive the Obama team’s economic work? What’s he gonna say? “Here, let me drive this car into a ditch, I’m an expert“?
Up next: Donald Rumsfeld explains how to kill thousands of American soldiers.
GDP Up
October 29th, 2009
48 Comments
Oh no, looks like secret socialism plans are working.
The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
The Commerce Department’s report Thursday delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and [...]
Econ Watch
October 8th, 2009
5 Comments
Jobless claims are down, though this could be from people simply slipping off the unemployment rolls. Also, retail sales are doing better than expected, though a weak holiday season is expected.
Jobless Claims Drop To 530,000
September 24th, 2009
5 Comments
The Bush Recession continues to wind down.
The number of newly laid-off workers seeking unemployment benefits fell for the third straight week, evidence that layoffs are continuing to ease in the earliest stages of an economic recovery.
The Labor Department said Thursday that initial claims for unemployment insurance dropped to a seasonally adjusted 530,000 from an upwardly [...]
Is The Tax Issue Dead?
September 23rd, 2009
8 Comments
In the last few years Republicans have not had a lot of success with their traditional attacks on Democrats as tax and spenders. I don’t know if the change is because people post-Bush have a different view of the role of government, or if they’re just tired of the same old line from the GOP. [...]
Maryland: We’re #1
September 22nd, 2009
5 Comments
Link
Despite a decrease in home values in Maryland in 2008, the state remains the richest state in the nation, according to U.S. census data released Tuesday.
The state’s median household income for 2008 was $70,545, an increase of about $1,500 from the state’s median income in 2007 and slightly higher than New Jersey’s figure ($70,378). Maryland [...]
Hypocrite Is Too Kind. Video Of Glenn Beck Supporting The Bailout
September 21st, 2009
10 Comments
Glenn Beck claims time and time again that he was against the bailout. The problem is Glenn seems to not understand that when the red light is on the camera is recording. Here’s Beck, a year ago, saying how much we needed the bailout in his view. Frankly Beck seems more pro-bailout than the left [...]
Glenn Beck Supported The Bailout
September 21st, 2009
12 Comments
This is very worth noting.
But, before Obama was elected POTUS and when Glenn Beck was on CNN, he was singing a very different tune. One could say that Glenn Beck was for the bailouts before he was against them. Not only was he for the bailout, but he argued that it wasn’t big [...]
Bush Recession Over?
September 15th, 2009
30 Comments
Sounds good.
Federal Reserve Chairman Ben Bernanke said on Tuesday that the worst U.S. recession since the Great Depression was probably over, but the recovery would be slow and it would take time to create new jobs.
‘Even though from a technical perspective the recession is very likely over at this point, it’s still going to feel [...]
How George W. Bush Stole Your Money
September 14th, 2009
11 Comments
All those teabagger protesters insist that their real anger is about unaccountable bailouts, so they – and you – should check out this must-read article about how TARP money was just given away without accountability or follow up.
Oh, by the way, this all happened under the Bush administration.
Signs Say Recession Ending
September 10th, 2009
10 Comments
OMG Obama’s socialism getting country through a rough patch! OMG BHO FDR?
All but one of the Fed’s 12 regions indicated economic activity either was “stable,” showed “signs of stabilization” or had “firmed,” according to the Fed’s survey. The one exception was the St. Louis region, which reported the economic decline is “moderating.”
Businesses in most Fed [...]
Consumers Cut Credit, Big Time
September 8th, 2009
2 Comments
This is good news.
Consumers slashed their borrowing in July by the largest amount on record as job losses and uncertainty about the economic recovery prompted Americans to rein in their debt.
Economists expect consumers will continue to spend less, save more and trim debt to get household finances decimated by the recession into better shape. However, [...]
Obama’s Stimulus: Saving The Economy
September 2nd, 2009
14 Comments
That’s in the Wall Street Journal
Economists say the money out the door — combined with the expectation of additional funds flowing soon — is fueling growth above where it would have been without any government action.
Many forecasters say stimulus spending is adding two to three percentage points to economic growth in the second and third [...]
Global Stimulus Aiding Recovery
August 14th, 2009
11 Comments
The OMG!!! SOCIALISM!!! around the world seems to be helping to improve… capitalism.
Analysts are pointing to improving indicators in the United States, China and even Japan, the world’s second-largest economy, which some observers predict is set to announce its own return to growth in the coming days. Though a host of other European economies — [...]
Economists: Stimulus Working, Recovery In Sight?
August 12th, 2009
113 Comments
We’ll see…
Recovery from the worst recession since the 1930s has begun as President Barack Obama’s fiscal stimulus — derided as insufficient and budget-busting months ago — takes effect, a survey of economists indicated.
The economy will expand 2 percent or more in four straight quarters through June, the first such streak in more than four years, [...]
Productivity Increases 6.4%
August 11th, 2009
5 Comments
Link
U.S. companies slashed their workers’ hours in the second quarter, boosting the productivity of the workplace to an annualized rate of 6.4%, the Labor Department reported Tuesday.
It was the fastest increase in productivity in the nonfarm business sector in nearly six years. Economists surveyed by MarketWatch had been looking for a gain of 5.4%.
How Things Change
August 8th, 2009
3 Comments
When George W. Bush was president and people talked about the softening economy, you could always count on Glenn Reynolds to put up some inane tale about how he went to a mall and there were tons of people there so any economic slowdown was clearly a myth. Now there’s a Democratic president, and so [...]
Economy Healing, Bit By Bit
August 7th, 2009
68 Comments
Thank goodness we elected Barack Obama.
Employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent, its first decline in 15 months.
It was a better-than-expected showing that offered a strong signal that the recession is finally ending.
The new snapshot, released by the [...]
Jobless Claims Drop
August 6th, 2009
27 Comments
Slowly but surely we recover from the mess George W. Bush and the Republican congress created.
First-time claims for jobless benefits dropped to a seasonally adjusted 550,000 for the week ending Aug. 1, down from an upwardly revised figure of 588,000 in the previous week, the Labor Department said.
That was much lower than analysts’ estimates of [...]
