Today's Good Economic News

[Bubba X]

Wells Fargo reports record profits.
http://www.cnbc.com/id/30133484

New jobless claims fall more than expected.
http://finance.yahoo.com/news/New-jobless-claims-fall-more-apf-14891862.html

Miami real estate sales increase 70% in Feb '09 vs Feb '08.
http://www.cggazette.com/index.cfm?dsp=news.view&nid=1411

[PaceAdvantage]

This is indeed good news and I'm happy you posted it...

I find it more than amusing that during the Bush years, the righties would post the good news and the lefties would post all the bad news...and now the situation is the exact opposite.

Where's ddog when you need him? He would put a nice negative spin on any positive news to hit the wires...

[pktruckdriver]

Dog gone it


I did not want to see that Miami Real Estate was holding it's own, I really needed it to take a huge nose dive so I could run in and scoop up something nice and cheap, something near Calder and Gulfstream, and the Atlantic Ocean's gulfstream too, as it provides some of the worlds best fishing, almost as good as Alaska's fishing, almost...but that is another story.

You are right Bossman it seems the rolls are reversed now, now if freight rates will start to go up , so I could make money again things would be pretty nice, but forecasts for that seem pretty gloom , unfortunatley.

Patrick

[Marshall Bennett]

This is indeed good news and I'm happy you posted it...

I find it more than amusing that during the Bush years, the righties would post the good news and the lefties would post all the bad news...and now the situation is the exact opposite.


:ThmbUp:

[Valuist]

Wal-Mart blew its earnings pretty bad. Not sure if thats a good or bad sign. When times are bad, Wal-Mart does well since many consumers trade down. But with earnings disappointing, maybe consumers were trading back to their pre-recession retailers and stores. Of course, it could just mean the consumer is dead, even at Wal-Mart.

I thought the market severely overreacted to the Wells Fargo news. The banks balance sheets are so obscure anyways; we know they've gotten a lot of TARP and bailout money. I guess if you set the bar low enough, anyone can look good.

[ddog]

This is indeed good news and I'm happy you posted it...

I find it more than amusing that during the Bush years, the righties would post the good news and the lefties would post all the bad news...and now the situation is the exact opposite.

Where's ddog when you need him? He would put a nice negative spin on any positive news to hit the wires...

Pa,

you give m a spread like now and a sweetheart deal with wacky and i will show some "profits" as well.

jobless claims - one week data point - useless worse than bullshit.

miami real estate --- Plueeze - short sellers - foreclosure sales by specs and give away rates along with funding the same insane deals all over again along with up 70% from what, they are not all dead , somebody will still buy homes, right?
last i saw, there was at least a 10 month supply plus all the homes that are not even on the market yet as the banks,etc. can't even process them to get them up for bids.




what i find funny is the stupidity of "crowds" and all I ever hear about is how smart they are.

there, did I pull my end??
:eek: :ThmbUp:

[Tom]

Wells Fargo reports record profits.
http://www.cnbc.com/id/30133484

New jobless claims fall more than expected.
http://finance.yahoo.com/news/New-jobless-claims-fall-more-apf-14891862.html

Miami real estate sales increase 70% in Feb '09 vs Feb '08.
http://www.cggazette.com/index.cfm?dsp=news.view&nid=1411

Wells Fargo did not want TARP money but was forced to take it. This is not indicative of anything Now, if they pay BACK the money, that would be good
news.

But, when you have a bank forced to money they do not need and not allowed to pay it back, you can hardly call it good eco news.

[philcski]

This indy says while we're making progress, the Wells Fargo record profits is kind of misleading- they are reporting with Wachovia for the first time, after all...
then again, I guess it could be viewed as they've stemmed the mess at Wach?

Agreed, weekly job data is BS.

[Valuist]

Despite the lowered bar, 60% of U.S. retailers have missed their sales numbers for March.

[lamboguy]

i admit that bush jr. was the biggest trainwreck to ever take the oath as president in this great country. but since the new guy took over the dow is still down 500 points. if the you get the stock market numbers to go up then and only can you say that the present administration is better than the last one.
market decline have always meant lack of confidence in leaders. for example george w. bush lost about 1500 points on the dow during his administration, he was always thought of as a pretty poor leader all over the world. that doesn't make this guy better, he has still lost 500 points in 100 days.

[rastajenk]

i admit that bush jr. was the biggest trainwreck to ever take the oath as president in this great country.
Why would you admit to something so egregiously wrong?

[lamboguy]

Why would you admit to something so egregiously wrong?

that is my opinion, and my opinion only.

you have your opinion's and i have mine.

i stated one of the reason's for my opinion, you did not

now if you want to tell me about a few of the commendable things bush did, like make great strides in africa against the spread of aids, then your post would have more meaning.

during the bush years the unemployment rate went up to over 8%, american standard of living went way down. the dollar itself went down from 126 down to 79 while he was in office. now if you want to tell me he had a stellar performance as the leader of this country, prove it to me. i just put up numbers that substantiate that he wasn't.

[rastajenk]

I like Bush, but I'm not going to list his accomplishments here. But worst ever?

Almost all the Prezzes from about, say, the Compromise of 1820 until the Civil War were far worse. Unemployment rates, market levels, all of that cyclical economic stuff that is mostly beyond the reach of the President anyway has got nothing on the horrors of the Civil War.

And that's not even mentioning Jimmy Carter and his misery index. Worst ever? Not by a long shot.

[Lefty]

scuse me, but didn't the stock mkt hit an alltime high under Bush. and lamby, pres Bush was not a Jr.
also, he he kept al qaida busy in Iraq. Otherwise it's entirely possible that they would have blown up Wall St.
And didn;t those figs you mention come in the last 2 yrs of his tenure. And in those last 2 yrs didn't we have a dim Congress?

[lamboguy]

scuse me, but didn't the stock mkt hit an alltime high under Bush. and lamby, pres Bush was not a Jr.
also, he he kept al qaida busy in Iraq. Otherwise it's entirely possible that they would have blown up Wall St.
And didn;t those figs you mention come in the last 2 yrs of his tenure. And in those last 2 yrs didn't we have a dim Congress?

when a president blames the congress, its like the horseowner blaming the jockey. if the markets went down due to bush or due to anticipation on a new rigime, only time will tell. so far obama is worse than bush, the market is down 500 points while he has been in office. if the dow reaches 11k by the end of his first term i would say he did a great job. numbers have no memory like dice at a crap table. that is why i say that is a good indicator as to how good or bad leadership is.

[Lefty]

Prob the worst analogy in a long time. The Congress votes on the budget, the Congress initiates and votes on laws. There are many things a Pres can't do without Congress; some important ones take a 60% vote.
When Repunb Congress took over in Clinton yrs, they reigned in his liberal agenda, substituted their own agendaand got a lot of important things passed such as welfare refoprm and a balanced budget. Remember The Contract With America? BTW, Bush never blamed Congress or anyone else. Bush was a real man and not like Clinton or Obama who casts blame everywhere except upon themselves.

[lamboguy]

Prob the worst analogy in a long time. The Congress votes on the budget, the Congress initiates and votes on laws. There are many things a Pres can't do without Congress; some important ones take a 60% vote.
When Repunb Congress took over in Clinton yrs, they reigned in his liberal agenda, substituted their own agendaand got a lot of important things passed such as welfare refoprm and a balanced budget. Remember The Contract With America? BTW, Bush never blamed Congress or anyone else. Bush was a real man and not like Clinton or Obama who casts blame everywhere except upon themselves.

thanks for hipping me up, i won't make that mistake again.

[hcap]

Consumer confidence?

ABC News/Wall Street Journal poll released Monday indicating that 50% of Americans now believe the country is headed in the right direction, versus just 8% in October, before the presidential election and three months before Barack Obama took office. Additionally, the Consumer Confidence Index released Tuesday showed a significant increase to 39.2% in March vs. 26.9% in February.

[Bubba X]

Consumer confidence?

ABC News/Wall Street Journal poll released Monday indicating that 50% of Americans now believe the country is headed in the right direction, versus just 8% in October, before the presidential election and three months before Barack Obama took office. Additionally, the Consumer Confidence Index released Tuesday showed a significant increase to 39.2% in March vs. 26.9% in February.PEople will always poll more positive than they feel. Especially so close to the election. The only real meaningful poll today was the recent Reuters poll of econ analysts that had Q1 GDP likely to fall by 4.9%. Actual just reported as down by 6,1%. Not good.

[hcap]

Are you saying that less than 8% of Americans in October, before the presidential election and three months before Barack Obama took office, believed the country was headed in the right direction?

I didn't think it was that bad in bushs last few months.
I could be wrong. :lol:

[Bubba X]

Are you saying that less than 8% of Americans in October, before the presidential election and three months before Barack Obama took office, believed the country was headed in the right direction?

I didn't think it was that bad in bushs last few months.
I could be wrong. :lol:
No.

I think it is the honeymoon effect. People are still very much emotionally invested with their vote. It is far too early to truly know if things are going in the right direction.

There are some, maybe enough, may not, reasons to think things are going well or, at least better. But no one knows, at least yet.

[Tom]

People approve of Obama but not his policies. Duh?
In this case, consumer confidence is pretty much moot.
We are sold out for generations to come and no amount of confidence to going to change that. There is no way possible to pay off the debt now.

[boxcar]

Here's more good economic news about which to get all giddy.

http://finance.yahoo.com/news/US-economy-shrinks-more-than-rb-15067029.html


Boxcar

[Show Me the Wire]

People approve of Obama but not his policies. Duh?
In this case, consumer confidence is pretty much moot.
We are sold out for generations to come and no amount of confidence to going to change that. There is no way possible to pay off the debt now.


Yes, people are experiencing inner-conflict over President bumpkin. I am sure Zilly, with his background, can inform us of what the next resulting emotion or feeling towards the Great bumpkin will be if people cannot solve this inner-conflict.

[Valuist]

MINUS 6 on the GDP. That was horrible even by the rotten, lowered standards. Don't let this bear market rally fool you......things AREN"T getting better. Not for a long time. And the bear market rally is starting to get real long in the tooth.

[ArlJim78]

you know we're in strange times when a minus 6 gdp number generates a market rally. and now most auto production shutting down a couple months? it will be slow going crawling out of this hole, years.

[GaryG]

Good news is maybe Detroit will just fade away like it never was.

[boxcar]

Good news is maybe Detroit will just fade away like it never was.

Even better news would be that D.C. finally ends like it's all been a bad nightmare.

Boxcar