second quarter GDP 4%

[Sooner8th]

So no one is going to post the good news?

Second quarter gdp 4%, first quarter raised to -2.1%.


http://www.cnbc.com/id/101878728

[FaninAma]

Thanks to the Federal Reserve and it's insane QE policy. Without Federal Reserve pumping and money printing the economy would have grown only $900 billion since 2008.
http://www.zerohedge.com/news/2014-06-09/how-much-us-economic-growth-due-exclusively-federal-reserve

And before you embarrass yourself with another invective-laced tirade just answer this question: If the economy is so f'ing great why doesn't the Fed stop the QE program now?

[Sooner in Tampa]

4% today....what will the number be in a few weeks when the number is 'revised'?

Bait and switch? Again?

[FaninAma]

4% today....what will the number be in a few weeks when the number is 'revised'?

Bait and switch? Again?

You're right. The numbers don't mean a thing. And this isn't a partisan issue. Both the GOP and Democrats hide behind manipulated government issued statistics.

Remember, the Federal Reserve balance sheet is now approaching $ 5 trillion dollars. Take that away and where would this economy be?

[Sooner8th]

4% today....what will the number be in a few weeks when the number is 'revised'?

Bait and switch? Again?

gdp numbers are always revised. Where was this when 1st qrt gpd was being reported at -2.9? All I heard was obama is ruining America.

[Sooner8th]

You're right. The numbers don't mean a thing. And this isn't a partisan issue. Both the GOP and Democrats hide behind manipulated government issued statistics.

Remember, the Federal Reserve balance sheet is now approaching $ 5 trillion dollars. Take that away and where would this economy be?

Hey tell me again how romney is going to win the election! You people don't believe anything that is contrary to your narrow thinking. remember bush was at 1.69% over his term.d

[FaninAma]

gdp numbers are always revised. Where was this when 1st qrt gpd was being reported at -2.9? All I heard was obama is ruining America.

If the economy is doing so well why doesn't the Federal Reserve end their QE purchases of $75 billion in US debt each month?

[BoulderSooner79]

All I know is that during the Bush 8 years, my personal financials were stagnant, my company was not doing well (and thus my job security was not good). In the 6 Obama years, my company is thriving, my job is secure at the moment and my personal net worth has quadrupled. I'm not a big Obama fan, and much of this may be coincidence, but it's hard to ignore the bottom line since it is a big factor in taking care of my family. I do have fears like everyone else that it's all QE smoke and mirrors and could collapse any day. But I didn't have much to collapse 6 years ago, so I'll cope with that risk for now.

[pphilfran]

If the economy is doing so well why doesn't the Federal Reserve end their QE purchases of $75 billion in US debt each month?

They have slowly reduced the buy back...it is down to 35 billion per month....

[BoulderSooner79]

They have slowly reduced the buy back...it is down to 35 billion per month....

If you're talking about the mortgage backed bonds, they just reduced to 25 billion per month and expect to halt it in a few months.

[pphilfran]

If you're talking about the mortgage backed bonds, they just reduced to 25 billion per month and expect to halt it in a few months.

Yes, sorry...treasuries down 5 billion to 30

[Sooner8th]

If you're talking about the mortgage backed bonds, they just reduced to 25 billion per month and expect to halt it in a few months.

In march the Fed cut monthly mortgage bond purchases to $20 billion from $25 billion and Treasury purchases will drop to $25 billion a month from $30 billion. I cant find a breakout for the $35b.

[FaninAma]

All I know is that during the Bush 8 years, my personal financials were stagnant, my company was not doing well (and thus my job security was not good). In the 6 Obama years, my company is thriving, my job is secure at the moment and my personal net worth has quadrupled. I'm not a big Obama fan, and much of this may be coincidence, but it's hard to ignore the bottom line since it is a big factor in taking care of my family. I do have fears like everyone else that it's all QE smoke and mirrors and could collapse any day. But I didn't have much to collapse 6 years ago, so I'll cope with that risk for now.

What sector is your company in, if you don't mind me asking?

[FaninAma]

In march the Fed cut monthly mortgage bond purchases to $20 billion from $25 billion and Treasury purchases will drop to $25 billion a month from $30 billion. I cant find a breakout for the $35b.

And of course we know that this happening because we are able to read the detailed audit reports of the Fed. Oh wait, the Fed isn't audited. We will just have to take their word for it.

The Fed has a balance sheet of nearly $5 trillion. It will be intersting to see what happens to the value of their debt they hold once interest rates start rising.

[BoulderSooner79]

What sector is your company in, if you don't mind me asking?

Large, silicon valley technology company. Judging by the number of head hunter calls I get, many high tech companies are thriving out here, or at least competing for workers.

[FaninAma]

Are they publicly traded companies?

[BoulderSooner79]

Are they publicly traded companies?

The company I work for? Yes. The companies that call - both yes and no. Google, Apple, Cisco, etc. and many startups.

[FaninAma]

With all due respect I hope you have set aside a large
rainy day fund because the recent economic "boom"
has all been due to trillions pumped into the economy
by the Fed ..... a large percentage of that ended up in
the stock market and the coffers of publicly trade companies.

We'll see what happens as the Fed takes away the free punch
punch bowl they've been supping for 5 years. Already the stock
market is starting to show signs of withdrawal.

[BoulderSooner79]

With all due respect I hope you have set aside a large
rainy day fund because the recent economic "boom"
has all been due to trillions pumped into the economy
by the Fed ..... a large percentage of that ended up in
the stock market and the coffers of publicly trade companies.

We'll see what happens as the Fed takes away the free punch
punch bowl they've been supping for 5 years. Already the stock
market is starting to show signs of withdrawal.

Yes, I'm invested pretty conservatively since I'll be hitting 60 when
the next POTUS takes office (unless the impeachment crowd somehow
gets their way). And I said my job is secure "for now" for a reason: there
is no such thing as job security in high tech. I know it could all be
from happenstance, but I made no progress towards being able to retire
before death during the previous administration and now I have a plan
that at least is plausible to retire in 5 years unless the bottom falls out as
you say. Again, I know it could be unrelated to who is in office, but I've only
been able to accumulate any savings during the Clinton and Obama years and
was stagnant doing the Bush II years. I just hope the last 2 Obama years treat
me as well as the first 6. The last presidential pub I voted for was Bush I and
I fear it will be the last one ever unless the grown up pubs can somehow
expunge themselves of the tea party circus show.

[SanJoaquinSooner]

FaninAma is right. It's all an illusion.

We've really been in Great Depression II since 1991.

[BoulderSooner79]

FaninAma is right. It's all an illusion.

We've really been in Great Depression II since 1991.

Then "The Matrix" is for real? That's okay with me if we are all
really ensconced in a vat of goo living virtual reality dreams. Just
keep injecting my compartment with images of good weather and
friendly drivers on my biking route and I'll be fine. Maybe we could
change the dream to include peace in the middle east, but I doubt
the computers are sophisticated enough to conjure that one.

[SanJoaquinSooner]

Then "The Matrix" is for real? That's okay with me if we are all
really ensconced in a vat of goo living virtual reality dreams. Just
keep injecting my compartment with images of good weather and
friendly drivers on my biking route and I'll be fine. Maybe we could
change the dream to include peace in the middle east, but I doubt
the computers are sophisticated enough to conjure that one.

I'm with you, but for FaninAma and his gloom-and-doom crowd , it's been a 23 year nightmare.

[FaninAma]

Boulder, I wish you the best on your financial security. San J, I detect some sarcasm in your post. Actually the Fed has fueled several asset bubbles since 1991 but their ability to keep doing this is growing weaker and weaker. We are a year past the 100 year anniversary of the Fed. I think we will see the full impact of their massive currency manipulation by the time their 105th anniversary rolls around.

You can act smug and condescending all you want but answer this question. How much has the stock market appreciated as a yearly % increase since 1999. Here's a hint: it's been less than 3% a year. Now, how much has government and private debt increased over that same period? Hint: it's a lot more than 3% a year. And the negative growth of median income over the last 6 years must really reassure you.

You used to get 4+% a year with a passbook savings account at your local bank. Yep, the Fed has done wonders for the average Joe 6-pack. Actually they have done a wonderful job of helping hedge fund managers and others in the currency/equity/banking market mafia.

[Skysooner]

Boulder, I wish you the best on your financial security. San J, I detect some sarcasm in your post. Actually the Fed has fueled several asset bubbles since 1991 but their ability to keep doing this is growing weaker and weaker. We are a year past the 100 year anniversary of the Fed. I think we will see the full impact of their massive currency manipulation by the time their 105th anniversary rolls around.

You can act smug and condescending all you want but answer this question. How much has the stock market appreciated as a yearly % increase since 1999. Here's a hint: it's been less than 3% a year. Now, how much has government and private debt increased over that same period? Hint: it's a lot more than 3% a year. And the negative growth of median income over the last 6 years must really reassure you.

You used to get 4+% a year with a passbook savings account at your local bank. Yep, the Fed has done wonders for the average Joe 6-pack. Actually they have done a wonderful job of helping hedge fund managers and others in the currency/equity/banking market mafia.

The really sad part is that I make 4% per week trading a very conservative options strategy. I am like Boulder though in that the past 14 years really have seen my income go up 6 times and net worth more than that. Didn't matter if it was Bush or Obama. I am in energy btw. It is why I don't complain that much either.