Shock News!!!! US Economy Not As Good As Thought!!!!!

image

It’s weird!  The AP gave us “happy face” economic reports after “happy face” economic reports.  Many of us, including yours truly, stated that the news the lunatics were putting a happy face on wasn’t good news at all, but, offered foreboding, instead.

As it turns out, the pass 3 months of glowing jobs reports and prognostications were simply fantasy.

An ailing global economy starts to weigh on US job market

WASHINGTON (AP) — A sagging global economy has finally caught up with the United States.

Nervous employers pulled back on hiring in August and September as China’s economy slowed, global markets sank and foreigners bought fewer U.S. goods. Friday’s monthly jobs report from the government suggested that the U.S. economy, which has been outshining others around the world, may be weakening. …..

Employers added just 142,000 jobs in September, and the government sharply lowered its estimate of gains in July and August by a combined 59,000. Monthly job growth averaged a mediocre 167,000 in the July-September quarter, down from 231,000 in the April-June period.

The unemployment rate remained a low 5.1 percent, but only because many Americans have stopped looking for work and are no longer counted as unemployed. The proportion of adults who either have a job or are looking for one is at a 38-year low. ……

Weird how the AP suddenly decided to parrot the same thing we’ve been saying for the last several years. 

…. The disparity between overseas weakness and solid consumer spending was evident in the September jobs report: Manufacturers shed jobs for a second straight month while retailers, restaurants and hotels all added positions. …….

That’s great!  We’re selling crap, we’re just not making the stuff we’re selling …. in other words, we’re exporting wealth.  BTW, this would add to the “GDP” number, which the AP would interpret as proof our economy is improving, while in reality, all it is, is proof of increasing outflows of wealth from the US.  As demonstrate by the last several months, you can have an increasing GDP and a tanking economy. 

Oh, yeh, and then, there’s this ……

Orders to US factories down 1.7 percent in August

WASHINGTON (AP) — Orders to U.S. factories fell in August by the largest amount in eight months, led by a drop in demand for commercial airplanes and weakness in a key category that tracks business investment spending.

Factory orders declined 1.7 percent in August after a slight gain of 0.2 percent in July, the Commerce Department reported Friday. It was the biggest setback since orders dropped 3.7 percent in December.

Demand in a key category that serves as a proxy for business investment slipped 0.8 percent in August, following solid gains in June and July.

Manufacturing has been under stress this year as a strong dollar has hurt export sales. The big fall in energy prices has also led to cutbacks by energy companies.

Orders for durable goods, items expected to last at least three years, fell 2.3 percent in August, slightly worse than the 2 percent decline reported in a preliminary report. Demand for nondurable goods such as paper, chemicals and food dropped 1.1 percent.

The overall weakness was fueled by a 5.9 percent fall in demand for commercial aircraft, a volatile category that was down for the second month. Orders for machinery rose 0.8 percent, but orders for computers and other electronic products were off 0.5 percent.

On Thursday, the Institute for Supply Management said that its manufacturing index slid to a reading of 50.2 in September, its lowest level since May 2013.

The rising dollar makes U.S. goods more expensive in foreign markets, while weakness in China, the world’s second biggest economy, is adding pressure to the global economy.

The overall economy, as measured by the gross domestic product, grew at an annual rate of 3.9 percent in the April-June quarter, a sharp increase after an anemic 0.6 percent rise in the first quarter. Economists are forecasting that growth in the current July-September quarter will slow slightly to around 2.5 percent.

The “overall economy” did not grow, because the GDP is incapable of measuring the overall health of an economy.  As just demonstrated.

Advertisements
This entry was posted in Economics. Bookmark the permalink.

17 Responses to Shock News!!!! US Economy Not As Good As Thought!!!!!

  1. gator69 says:

    Until Dodd-Frank is repealed, we will not see any real growth. That was the last straw for the banking industry, and that straw is still getting fatter thanks to the CFPB.

  2. Latitude says:

    I was reading an article the other day…the US economy is not following the “formula”……and went so far as to say the unemployment rate is at a record low…blah blah…and inflation….and interest rates….blah blah

    When you lie about the employment rate….you can’t expect the economy to follow the “formula”

  3. DirkH says:

    Key problem of the Left – that they automatically attract the idiot section of the population – is exposed by themselves. Bonus points for raping English language to point of incomprehensibility.
    http://www.breitbart.com/london/2015/10/03/feminist-conference-in-meltdown-no-platforming-unsafe-speakers-exposes-warring-factions/

    • leftinflagstaff says:

      Key problem or key advantage?

      • DirkH says:

        From time to time I look into http://www.vegan.de and look for nutters. Today I found an ad, there is a free place in a “living economy” of three “male-socialized persons”. (Which means, they share a flat or house).

        A leftist bonehead acquaintance I just met scoffed when I talked about the flood of asylum seekers, he said “*I* call them *REFUGEES*”. I could have corrected him as he’s way behind the curve: the current PC term is “Gefluechtete” (the escaped). I didn’t bother, as I like to give them their meaningless victories.

        I really wouldn’t call forming an organization from idiots an advantage.

    • Lars P. says:

      Well here some antidote to that – a crazy young lady and a bike:

      Amazing what she can do, what a perfect control she has, wow.

  4. Latitude says:

    How many of you guys know the Oregon shooter was black?
    Look at the two pictures…CNN not only changed his skin color…..his forehead, eyebrows, eyes, nose, lips……CNN Made him white…they also got rid of those nasty moles

    http://theconservativetreehouse.com/2015/10/02/the-curious-case-of-oregon-shooter-chris-harper-mercer-a-social-media-profile-shaped-modified-and-deleted/

  5. Lars P. says:

    Hm, wondering why the economy does not go well. This is a mystery to me. Actually with the price increases below, it should show dramatic increase at least in the medical drugs area, considering the number of pills stays the same:
    http://www.zerohedge.com/news/2015-10-04/more-pain-biotechs-ahead-valeants-astronomical-price-increases-take-center-stage-pfi

  6. Latitude says:

    Dirk!……they are evicting Germans…to make room for Illegals!
    Exaclty how does throwing someone out on the street…make room for more people???

    http://www.theblaze.com/stories/2015/10/04/german-woman-gets-eviction-notice-to-make-room-for-migrants-and-shes-not-the-first/

    • DirkH says:

      She lived alone in a 80 m^2 flat after her children left. They’ll cram 8 illlegals in there.
      It’s a flat owned by the municipality.
      Prolly legal.
      Caused some outrage. So it’s a good thing. Wakes people up.

      • DirkH says:

        And, to be fair, they offered her a different smaller flat – she declined the offer because she would be able to see her old house from there and doesn’t want the constant reminder.

  7. DirkH says:

    Latest number leaked from internal docs says government expects 1.5 million Hijra migrants at year end.
    Calls for Merkels immediate ouster are getting more frequent – not from within the bloc parties though, as of now. Just wait for tomorrow.
    Merkel steadfastly refuses to put an upper limit on the holy right to apply for asylum in Germany. Maybe she WANTS to be ousted.

    • DirkH says:

      The follow up will be:
      -family reunions multiplying the number by a factor of 4 to 8
      -As people fall out of the Camp system they will be relocated into city flats. This will completely clog the housing market and drive up rents to fantastic levels. Germans will no longer find housing as they will have to compete with the state who uses tax payer money to pay the rent for Sunni Arabs.

      All of this looks like a demolition job.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s