Despite what doom/gloomers say, economy roars on.

Thanx for this, Mal4...very educational! I see the "usual suspects" haven't had the guts to show their faces yet...

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Quote:

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Originally posted by AURaptor:
( Just more fuel for the economy which is on FIRE! )

U.S. Stocks Rise on Verizon Profit; S&P 500 Nears 5-Year High

May 2 (Bloomberg) -- U.S. stocks rose as earnings from Verizon Communications Inc. exceeded analysts' forecasts, easing concern that higher interest rates may curb profit growth. The Standard & Poor's 500 Index reached an almost five-year high.

TXU Corp. led a rebound in utility shares as the largest Texas power producer said profit climbed on higher electricity prices. A drop in Treasury yields also boosted the group.

Emerson Electric Co., the world's biggest maker of power supplies for telecommunications systems, and Archer Daniels Midland Co., the No. 1 grain processor, joined Verizon in reporting results that topped Wall Street's expectations.

``We still keep seeing better-than-expected earnings,'' said Cummins Catherwood, who helps manage $800 million at Walnut Asset Management in Philadelphia. Companies such as Verizon and Emerson are ``posting some impressive stuff. That gives me encouragement about our economy.''

The S&P 500 added 7.46, or 0.6 percent, to 1312.65 at 2:18 p.m. in New York, the highest since May 21, 2001. The Dow Jones Industrial Average rose 74.76, or 0.7 percent, to 11,418.05. The Nasdaq Composite Index gained 5.70, or 0.3 percent, to 2310.49.

Stocks reached their highs in early afternoon trading as Treasury yields fell to their lows on the day and a gain in oil prices lifted energy shares.

Almost two stocks rose for every one that fell on the New York Stock Exchange. Some 1.14 billion shares changed hands on the Big Board, in line with the same time a week ago.

Exceeding Forecasts

Better-than-expected reports have lifted the earnings growth rate for S&P 500 companies in the first quarter to 14.1 percent, from 13.6 percent a week ago, according to Merrill Lynch & Co. chief market analyst Mary Ann Bartels.

Stocks made up most of their declines from a day ago, when remarks attributed to Fed Chairman Ben S. Bernanke suggested the central bank may not pause its series of 15 straight interest rate increases soon.

People love a happy ending. So every episode, I will explain once again that I don't like people. And then Mal will shoot someone. Someone we like. And their puppy. - Joss

" They don't like it when you shoot at 'em. I worked that out myself. "

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WHATEVER HE SAID = BULLSHIT

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Hi-larious

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Biden blames bank failures on Trump signing 2018 bill passed with significant Democrat support

https://justthenews.com/government/white-house/biden-blames-bank-failu
res-trump-signing-bill-democrats-voted-2018

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And is idiot voting base buys it.

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Growing up in a Republic was nice... Shame we couldn't keep it.

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Quote:

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Originally posted by SignyM:
It shouldn't have taken a brainiac to see THIS coming....

Quote:

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MORTGAGE CRISIS OVERHELMING CREDIT COUNSELORS

... Phones at credit counselors across the country are now ringing off the hook. The industrial heartland has been particularly hard-hit. Ohio had the highest number of home foreclosures in 2006, while neighboring Michigan and Indiana -- all sideswiped by the faltering U.S. auto industry -- were close behind.

Housing analysts predict between 1 million and 3 million U.S. homes will be foreclosed upon in 2007. Already a wave of defaults on subprime mortgages held by those with poor credit have caused a crisis in parts of the industry, and some economists believe a recession could result.

"We knew it was going to be bad, but we didn't think it would be this bad," said Britton, echoing many who warned that increasingly exotic mortgage programs -- including those that required no down payment on home purchases --would come back to haunt home buyers.

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www.cnn.com/2007/US/03/22/subprime.counselors.reut/index.html

The economy has been running on consumption bouyed by refinancing based on rising home prices based on low interest rates. But if rising interest rates tank aggregate demand, then the economy goes south. The Fed "fix" is to lower interest rates. Which lowers the value of the dollar. SO in areas where the USA is competing internationally for commodities, goods, and services- such as oil, chemicals, and software engineering- then those commodities become relatively more expensive.

Hmmm... I'm glad I invested in foreign currency and gold. It'll be interesting to see who that works out.

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Reality sucks. Especially when it contradicts our cherished ideas.

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The fundamentals still apply TODAY.

It's not fucking magic, people!

As an aside, one thing that people consnatly conflate is finacialism and "economy".

Just because bubbles are being blown on cheap money doesn't mean "the economy" is doing great. And conversely, just because bubbles are popping doesn't mean the economy is doing poorly. Two separate things. Altho, in THIS country, bc all we have left is financialism, popped bubbles can be catastrophic.



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"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger

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Bring on the deflation.

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Growing up in a Republic was nice... Shame we couldn't keep it.

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Economies and finances are tricky things, even if a govenment has control over most of it.

China for example has direct conrol over a fair bit of production through State Owned Enterprises (SOEs). Theoretically, they also control financialism because they have a national bank, the People's Bank of China (PBoC). However, they have many private banks and "shadow banks" that lend money, so they don't have guaranteed control of money-printing (since lenders in effect print money if they lend money that they don't have in their possession i.e. partial reserve banking)

IMHO they made a mistake when they based their economic model on being a net exporter and relied on foreign markets (USA first, then the EU) and foreign investment (ditto).

Well, as interesting as this topic is, for me, I have to get to this later.

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"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger

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Opinion: Californians are sour about economy. Their votes this year reflected it.

https://www.bizjournals.com/sacramento/news/2024/12/16/another-voice-d
an-walters-california-economy.html

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