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Powerman 
LSU Fan
Corpus Christi, TX
Member since Jan 2004
115660 posts
| Are we finally out of the recession? (Posted on 1/26/13 at 7:25 am)
Markets have had a really strong run very recently and jobs data seems to be looking up
quote:
U.S. stocks rose for the week, capping the longest stretch of daily gains since 2004, amid better-than-estimated corporate earnings and economic data as lawmakers voted to temporarily suspend the federal debt limit.
quote:
Claims for jobless benefits unexpectedly dropped to a five-year low. The index of American leading indicators rose by the most in three months. The U.S. House voted to temporarily suspend the nation’s borrowing limit, removing the debt ceiling for now as a tool for seeking deeper spending cuts.
quote:
The Standard & Poor’s 500 Index rose 1.1 percent for the week to 1,502.96. It has added 2.2 percent in eight days, the longest rally since November 2004. (SPX) The Dow Jones Industrial Average gained 246.28 points, or 1.8 percent, to 13,895.98. Both measures are trading at the highest levels since 2007.
All of the above is in this short write up
LINK
Also of interest
quote:
To put Apple’s four-month stock slide into perspective, consider this: the value that the tech firm has lost since Sept. 19 is greater than Google’s market cap.
The 37 percent decline — sparked by fears of slowing growth — yesterday knocked the gadget giant from its spot as the most valuable company in the world.
Apple and CEO Tim Cook had worn the crown for 12 months.
But now ExxonMobil and CEO Rex Tillerson have that bragging right.
All of this data in spite of Apple really taking it on the chin is pretty good news.
quote:
Apple has lost $250 billion in value since its September peak, an amount that’s close to the value of Citigroup and Bank of America combined. Of course, Apple has $137 billion cash on hand, enough to buy either bank.
Damn
LINK
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a want
LSU Fan
Silicone Holler
Member since Oct 2010
6913 posts
 Online
| re: Are we finally out of the recession? (Posted on 1/26/13 at 7:27 am to Powerman)
My 401k says YES!
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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
115660 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 7:27 am to a want)
Be prepared for all of the people on this forum to tell you how that's really a bad thing somehow
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50Mullets
LSU Fan
Member since Oct 2012
1077 posts
Online
| re: Are we finally out of the recession? (Posted on 1/26/13 at 7:32 am to Powerman)
Yeah the economy is about to come roaring back. Just like last year. And the recovery summer the year before that. And the other recovery summer before that.
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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
115660 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 7:33 am to 50Mullets)
Why are you completely ignoring the data? It IS coming back. shite you might even say it's not "coming back" but it's "already back"
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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
115660 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 7:44 am to 50Mullets)
What economic trend are you not satisfied with
Financial markets are improving
Labor market is improving
We're producing more oil than we ever have
Tell me what I should be depressed about
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50Mullets
LSU Fan
Member since Oct 2012
1077 posts
Online
| re: Are we finally out of the recession? (Posted on 1/26/13 at 7:53 am to Powerman)
quote:
Labor market is improving
Financial markets are subject to inflation the same as everything else. Just because the nominal inflation rate is low because the CPI calculations were screwed with does not mean that markets won't see inflation just the same.
If the participation rate were the same as 2007 unemployment would be something like 13%. Going from 'shitty' to 'less shitty but still pretty dreadful' is hardly a recovery to be proud of.
Actually the petroleum thing is a bright spot. Until there is a crackdown on hydraulic fracturing and the EPA takes measures to restrict carbon emissions. Then we will have all the oil we could want but can't use.
Take of the rose tinted shades.
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StPeteLSU
LSU Fan
St Petersburg, FL
Member since Oct 2011
1004 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 7:55 am to Powerman)
I believe the number of people that dropped out of the "looking for a job" category hit an all time high. I also believer that unemployment benefits being paid are also at an alltime high along with welfare benefits and food stamps. In fact recipients of govt entitlements continue to rise above all time highs. None of that is good news in my opinion
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Bestbank Tiger 
Tulane Fan
Landmass Gulf Coast
Member since Jan 2005
15762 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 7:57 am to Powerman)
Wall Street has been "roaring" for three years, with no benefit to Main Street.
I've heard your claptrap about job recovery for three years. The labor market is still in terrible shape.
Health insurance premiums keep rising in spite of your Messiah's "reform". Gas prices are still high. Both of those create hardship for 99%ers.
If a Republican President were producing the same results as Ogump, you would vilify him and rightfully so.
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Tim
LSU Fan
Texas
Member since Jan 2005
5322 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:02 am to Bestbank Tiger)
Growth next week will be reported at around 1%. We need at least 4% to pull us out of the recession and for tax revenue. As long as the dollar continues to plummet, the stock market will give you a false narrative. Oil production is up due to private land drilling that has nothing to do with the gov't. The news may sound good, it's all smoke and mirrors.
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texashorn
Member since May 2008
1089 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:03 am to Powerman)
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Reubaltaich 
USA Fan
A nation under duress
Member since Jun 2006
1773 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:05 am to a want)
quote:
My 401k says YES!
While prices of just about EVERYTHING we buy has been going up as well. Food, housing, fuel, clothing, transportation...
Sure the markets have been going up, but at what price?
The US economy has been propped up by the funny money at the Fed paying for the $1 trillion plus federal deficits we have been running for the last four years.
But hey, Washington has plenty more ink and paper. Bernie boy can print all the monopoly money we need to keep running these $$ trillion plus federal budget deficits for many more years.
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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
115660 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:06 am to Tim)
quote:
Growth next week will be reported at around 1%. We need at least 4% to pull us out of the recession and for tax revenue. As long as the dollar continues to plummet, the stock market will give you a false narrative. Oil production is up due to private land drilling that has nothing to do with the gov't. The news may sound good, it's all smoke and mirrors.
If you would have ended that post with saying that you dropped out of high school, you wouldn't have sounded any more fricking stupid than you already did.
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Bestbank Tiger
Tulane Fan
Landmass Gulf Coast
Member since Jan 2005
15762 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:06 am to Tim)
quote:
Growth next week will be reported at around 1%. We need at least 4% to pull us out of the recession and for tax revenue. As long as the dollar continues to plummet, the stock market will give you a false narrative. Oil production is up due to private land drilling that has nothing to do with the gov't. The news may sound good, it's all smoke and mirrors.
Yep. Unemployment stubbornly remains over 7%, and it's only that low because 4 million discouraged workers gave up.
I love how the libs celebrate bad economic news simply because it can be spun to make Ogump look good.
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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
115660 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:09 am to Reubaltaich)
quote:
While prices of just about EVERYTHING we buy has been going up as well. Food, housing, fuel, clothing, transportation...
Fuel has gone up?quote:
Sure the markets have been going up, but at what price?
Um I suppose at the price of my portfolio kicking major arse and the aggregate wealth of the nation, particularly retirement aged individuals increasing substantially.
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50Mullets
LSU Fan
Member since Oct 2012
1077 posts
Online
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:11 am to Bestbank Tiger)
quote:
I love how the libs celebrate bad economic news simply because it can be spun to make Ogump look good.
I'd say it's more because the news is less bad than the old news.
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Bestbank Tiger
Tulane Fan
Landmass Gulf Coast
Member since Jan 2005
15762 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:12 am to Powerman)
quote:
Fuel has gone up?
Cash for Clunkers drove up the price of used cars by taking a lot of functional used cars off the road. That sucks if you're a working stiff who needs a car to get to work.
Plus higher gas prices are caused solely by the President being in the pocket of Big Oil. I learned that between 2001 and 2009.
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StPeteLSU
LSU Fan
St Petersburg, FL
Member since Oct 2011
1004 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:13 am to Powerman)
I would like to share a local story from a few weeks ago.
A lady needed to take a 3 month sabbatical from work to take care of her elderly mother. After being off for 3 months she realized that she could receive enough in total govt benefits and come close to being in the same situation as she was when she was working. She quit her job and now is happy at home living the same living. But she also stated she could make some "cash money" working on the side so she is actually better off. HOW SAD IS THIS!!!
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ironsides
LSU Fan
new york, ny
Member since May 2006
4406 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:13 am to Powerman)
Can you tell me - how many total employed people are there in the US right now vs in the "middle" of the recession?
It's less. There's no getting around that Main Street is still hurting big time.
Also ironic to see liberals high fiving over how Wall Street is doing awesome while Main Street suffers. Am I in bizarro world?
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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
115660 posts
| re: Are we finally out of the recession? (Posted on 1/26/13 at 8:15 am to Bestbank Tiger)
quote:
Cash for Clunkers drove up the price of used cars by taking a lot of functional used cars off the road. That sucks if you're a working stiff who needs a car to get to work.
Yeah. What sucks is that didn't answer my fricking question. Has the price of fuel gone up?
quote:
Plus higher gas prices are caused solely by the President being in the pocket of Big Oil. I learned that between 2001 and 2009.
Right. That's why it's so much cheaper here than it is in Europe.
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