More GREAT NEW ON THE OBAMA ECONOMY!! 3Q revised up to 5% strongest growth

[Sooner8th]

GO OBAMA GO OBAMA GO OBAMA GO! Let's hear it for the president! WOW 5% in Q3 after Q2 growth of 4.2%! Best in over a decade! Time for a gooberment shutdown to slow down the OBAMA ECONOMY! The U.S. economy roared into overdrive in the third quarter as consumer and business spending fueled the biggest expansion in more than a decade.Gross domestic product grew at a 5 percent annual rate from July through September, the biggest advance since the third quarter of 2003 and up from a previously estimated 3.9 percent, revised figures from the Commerce Department showed today in Washington. The median forecast of 75 economists surveyed by Bloomberg projected a 4.3 percent increase in GDP.Consumer spending is poised to grow in 2015 as stronger employment and lower gasoline prices boost household buying power, one reason why the Federal Reserve will probably raise interest rates next year. Other aspects of GDP -- inventories, trade and government spending -- are likely to moderate, indicating growth will ease at the end of 2014. And durable goods orders declined last month, another sign last quarter’s surge may not be maintained.“Consumer spending in particular looks like it’s on a pretty good track right now,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York. “Energy prices are down, labor markets have good momentum, so we’re in pretty good shape heading into 2015.”http://www.bloomberg.com/news/2014-12-23/economy-grows-by-most-in-a-decade-on-u-s-consumer-spending-gain.html

[olevetonahill]

While Americans Lost Jobs, All Employment Growth Went to Immigrants
Frontpage Mag ^ | 06/28/2014 | Daniel Greenfield

Posted on 6/28/2014, 9:46:15 AM by SeekAndFind

1 million immigrants a year isn’t enough for the cheap votes/cheap labor lobby. Their Super-Amnesty is determined to legalize another 12 million illegal aliens and import millions more using amnesty as a magnet.

The current border crisis is only a small part of what will happen should Congress pass Super-Amnesty.

Advocates of Super-Amnesty claim that immigration is an engine of job growth. It’s not. Cheap labor just undercuts the middle class while cheap votes passes the social welfare bill to that same middle class.

All Employment Growth Since 2000 Went to Immigrants – Number of U.S.-born not working grew by 17 million

Government data show that since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal). This is remarkable given that native-born Americans accounted for two-thirds of the growth in the total working-age population. Though there has been some recovery from the Great Recession, there were still fewer working-age natives holding a job in the first quarter of 2014 than in 2000, while the number of immigrants with a job was 5.7 million above the 2000 level.

This is just an intro to an extended report at the Center for Immigration Studies.

What we’re seeing here is the impact of the globalized open borders approach. Cheap labor drives down wages at one end while at the other end, cheap votes push social welfare to compensate for the low wages.

Americans are losing their jobs to cheap labor and losing their money to cheap votes.

The Obama economy has mainly created low wage jobs. A sizable percentage of them are basically McDonald’s jobs. It’s not surprising that immigrants vacuumed those up.

The worst impact of that was on young African-American men whose unemployment rates are terrible. But it extends beyond that. Cheap labor locks young Americans out of entry level jobs. They never move up the ladder because they can’t even reach the bottom of the ladder.

An entire generation is being locked out of the labor market by cheap labor and cheap votes.

Super-Amnesty will kill the ability of generations to come to find work. It will expand ghettos and inflict misery on tens of millions of Americans.

[Sooner8th]

While Americans Lost Jobs, All Employment Growth Went to ImmigrantsFrontpage Mag ^ | 06/28/2014 | Daniel GreenfieldPosted on 6/28/2014, 9:46:15 AM by SeekAndFind1 million immigrants a year isn’t enough for the cheap votes/cheap labor lobby. Their Super-Amnesty is determined to legalize another 12 million illegal aliens and import millions more using amnesty as a magnet.The current border crisis is only a small part of what will happen should Congress pass Super-Amnesty.Advocates of Super-Amnesty claim that immigration is an engine of job growth. It’s not. Cheap labor just undercuts the middle class while cheap votes passes the social welfare bill to that same middle class. All Employment Growth Since 2000 Went to Immigrants – Number of U.S.-born not working grew by 17 million Government data show that since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal). This is remarkable given that native-born Americans accounted for two-thirds of the growth in the total working-age population. Though there has been some recovery from the Great Recession, there were still fewer working-age natives holding a job in the first quarter of 2014 than in 2000, while the number of immigrants with a job was 5.7 million above the 2000 level.This is just an intro to an extended report at the Center for Immigration Studies.What we’re seeing here is the impact of the globalized open borders approach. Cheap labor drives down wages at one end while at the other end, cheap votes push social welfare to compensate for the low wages.Americans are losing their jobs to cheap labor and losing their money to cheap votes.The Obama economy has mainly created low wage jobs. A sizable percentage of them are basically McDonald’s jobs. It’s not surprising that immigrants vacuumed those up.The worst impact of that was on young African-American men whose unemployment rates are terrible. But it extends beyond that. Cheap labor locks young Americans out of entry level jobs. They never move up the ladder because they can’t even reach the bottom of the ladder.An entire generation is being locked out of the labor market by cheap labor and cheap votes.Super-Amnesty will kill the ability of generations to come to find work. It will expand ghettos and inflict misery on tens of millions of Americans.What the fvck does this have to do with gpd growth? You see where this started under bush, just blaming him now? Ignorant lemming.

[olevetonahill]

What the fvck does this have to do with gpd growth? You see where this started under bush, just blaming him now? Ignorant lemming.

Ignorant Doosh, Where did i say it had ANYTHING to do with ANYTHING?
I just posted random shat that I found. It appears you even tried to read it :welcoming:

[The Remnant]

We now have the best job growth since George W, Bush was president.

[FaninAma]

I knew Sooner8th would be here touting this ****. Too bad the election is over.

If the economy is going all gangbusters and everything then why hasn't the Fed raised interest rates? Why is Europe and every other country's economy in the ****ter except for China? I guess we are truly an island and operate in a vaccum.

$5 trillion dollars of QE by the Federal Reserve, $9 trillion in new federal government debt(who knows how much state government debt was incurred during the past 6 years), and essentially zero percent interest rates for 6 years. And you are touting this modest uptick in GDP which, BTW, includes all of that deficit spending by the Fed and the federal and state governments? Really?

Let's see. If you gave me a credit card with zero percent interest rates, no limit and no expectation to pay back the debt I bet I could raise my family's GDP just a bit, too. What do you think?

BTW, my stock portfolio has done tremendously well over the past 6 years. So have my bond funds. It didn't take a rocket scientist to see what the Federal Reserve was trying to do. You just had to climb aboard the debt train for a free ride. Now my 77 year old retired mother who has most of her money in CD's and some in bonds didn't do nearly as well. But screw her, right? She should have taken on more risk in the markets.
As long as the Goldman Sachs and hedge funds of the world can rake in gigantic profits who GAS about old people, retirees, and middle class savers?

[SoonerorLater]

Like most every other piece of economic news it's all smoke and mirrors. Creative lying on GDP reports have been elevated to an art form.

http://www.zerohedge.com/news/2014-12-23/here-reason-surge-q3-gdp

[Sooner8th]

Like most every other piece of economic news it's all smoke and mirrors. Creative lying on GDP reports have been elevated to an art form. http://www.zerohedge.com/news/2014-12-23/here-reason-surge-q3-gdpGood one soonerorlater - you went out and found something to say this "it's all smoke and mirrors". Too fvucking funny - did you see who posted it? TYLER DURDEN! LOL HAHAHAHAHAHAHA TOO FVCKING FUNNY! This is me laughing AT you.

[Sooner8th]

You lemmings are just too funny. No integrity whatsoever. When the economy news is good under a dem it's all smoke and mirrors and low interest rates, but when it is bad it's see what his policies are doing to our economy? The rightiest wingnut or rightwingnuts our dumbass ignorant governor touted the job growth in Kansas over the last year as proof, PROOF I tell you that my plan of cuttin' taxes on the wealthy is working. So when it benefits a pub it's all good. Never mind the fact that our job growth lagged behind the national job growth and the very next month - November - 4,100 jobs were LOST in Kansas while the national economy grow an outstanding 321 thousand jobs. Be it something as small as making for of john kerry for marrying a rich woman - remember cash and kerry - then praising john mccain four years later for being smart enough to marry a rich woman, or using the same economic measures used under bush that or now "fudged", conservatives and republicans have no INTEGRITY.

[SoonerorLater]

^^^^^^^^ Troll Alert ^^^^^^^^^

Characteristics of a troll

"Trolling is a status-enhancing activity: by attracting readers’ attention, upsetting people, sparking heated debates, and even gaining approval from others, trolls can feel important, perhaps much more than they are in their real lives. Thus trolling is yet another internet activity that promotes narcissistic motives, since trolls may be expected to be far less successful in attracting people’s attention in the physical world."

[Sooner8th]

^^^^^^^^ Troll Alert ^^^^^^^^^Characteristics of a troll "Trolling is a status-enhancing activity: by attracting readers’ attention, upsetting people, sparking heated debates, and even gaining approval from others, trolls can feel important, perhaps much more than they are in their real lives. Thus trolling is yet another internet activity that promotes narcissistic motives, since trolls may be expected to be far less successful in attracting people’s attention in the physical world."^^^^^^^^ Idiot Alert ^^^^^^^^^Characteristics of an idiot. Posts links on the economy from a website that was written by Tyler Durden.

[Turd_Ferguson]

^^^^^^^^ Idiot Alert ^^^^^^^^^Characteristics of an idiot. Posts links on the economy from a website that was written by Tyler Durden.

^^^^^^^^Dooch Bag Alert^^^^^^^^^Characteristics of an a$$ hole. Post links to try and make a failing economy/president look like it's not because he's a ****ing dem lemming.

[Sooner8th]

^^^^^^^^Dooch Bag Alert^^^^^^^^^Characteristics of an a$$ hole. Post links to try and make a failing economy/president look like it's not because he's a ****ing dem lemming.5% don't lie.....

[SoonerorLater]

^^^^^^^^^^^^^ Troll Alert ^^^^^^^^^^^^^^

"The mark of a troll is to keep hammering away at a point in an obsessive manner."

[Sooner8th]

^^^^^^^^^^^^^ Troll Alert ^^^^^^^^^^^^^^"The mark of a troll is to keep hammering away at a point in an obsessive manner."Anymore bits of wisdom from.............................................. ..tyler durden? Idiot

[hawaii 5-0]

I pray that the economy continues to 'suffer' as it's been doing the past several years.

I'm once again enjoying the Ride.

5-0

[olevetonahill]

I pray that the economy continues to 'suffer' as it's been doing the past several years.

I'm once again enjoying the Ride.

5-0

With the price of oil dropping so drastically, Drilling company's stackin out rigs, I dont see the economy continuing on the way it has.
A lot of people are going to be hurtin bad in a few weeks to months depending on IF they saved for a downturn.

[yermom]

The cheap oil stimulates the rest of the economy, right?

I'm really sad the Exxon kids might get smaller yachts for Christmas, but everyone else seems okay with it

[olevetonahill]

The cheap oil stimulates the rest of the economy, right?

I'm really sad the Exxon kids might get smaller yachts for Christmas, but everyone else seems okay with it

Thats it Dave ya got it figured out. Good jorb.
The Exon kids are the ONLY ones this will affect. Try thousands and 100s of thousands of jobs that will be lost and ARE being lost right now.
Ive seen the effects of an Oil Boom shutdown and lived thru em. No thanks, If I have my choice.

[yermom]

so why was oil so high in the first place? when was there ever a shortage?

maybe the oil companies need to show a loss again for a while to get some more subsidies that will still hang around when they are getting record profits again

at this point if you work in oil, and you aren't saving money for lean times, you might not be very smart

[FaninAma]

The cheap oil stimulates the rest of the economy, right?

I'm really sad the Exxon kids might get smaller yachts for Christmas, but everyone else seems okay with it
Yeah, a contracting energy sector will do wonders for job and GDP growth in this country.
http://mobile.bloomberg.com/news/2012-08-13/america-s-energy-seen-adding-3-6-million-jobs-along-with-3-gdp.html

Falling energy prices are a huge red flag for a contracting world economy. Remember, cash is king in a deflationary environment.

[SCOUT]

Yeah, a contracting energy sector will do wonders for job and GDP growth in this country.
http://mobile.bloomberg.com/news/2012-08-13/america-s-energy-seen-adding-3-6-million-jobs-along-with-3-gdp.html

Falling energy prices are a huge red flag for a contracting world economy. Remember, cash is king in a deflationary environment.

I work for a consulting firm that specializes in the energy sector. I can tell you that energy companies are cutting capital expenditures at an alarming rate. It is only a matter of time before core costs are cut too.

Surely everyone is familiar with Mr. Newton. As much as we want to hate on "the boogey man of the day," there is an equal an opposite reaction in economics too.

[yermom]

so what about the rest of the economy, where people have more money to spend along with prices falling for lots of other commodities?

weren't you all doom and gloom about hyperinflation not that long ago?

not really sure what the end game is here, but people we don't like are taking it in the shorts on this deal as well. those poor Russians, Iranians and Venezuelans...

http://www.nytimes.com/2014/12/25/world/europe/oils-swift-fall-raises-fortunes-of-us-abroad.html

[SCOUT]

so what about the rest of the economy, where people have more money to spend along with prices falling for lots of other commodities?

weren't you all doom and gloom about hyperinflation not that long ago?

not really sure what the end game is here, but people we don't like are taking it in the shorts on this deal as well. those poor Russians, Iranians and Venezuelans...

http://www.nytimes.com/2014/12/25/world/europe/oils-swift-fall-raises-fortunes-of-us-abroad.html
I have been accused of being too positive on the economy as well. It's hard for me to keep track. The lower prices are definitely good for the overall economy but it has consequences too.

[olevetonahill]

so why was oil so high in the first place? when was there ever a shortage?

maybe the oil companies need to show a loss again for a while to get some more subsidies that will still hang around when they are getting record profits again

at this point if you work in oil, and you aren't saving money for lean times, you might not be very smart

I dont give a big rats arse about the Rich Oilies Nor the price of gas much for that matter. I dont have to drive I can leave my truck parked. as for The workers not being very smart , I thought you were a better man than that statement,What about the young 21-22 year old just starting out and raising a Family?

All Im saying is This stacking out rigs and shutting down the oil patch is going to be very harmful to our entire economy. Those jobs lost bare going to translate into Sales by Stores Loss, which will in turn lose more Jobs when the stores dont need as many workers, its a slope we really dont need to be going down

[olevetonahill]

so what about the rest of the economy, where people have more money to spend along with prices falling for lots of other commodities?

weren't you all doom and gloom about hyperinflation not that long ago?

not really sure what the end game is here, but people we don't like are taking it in the shorts on this deal as well. those poor Russians, Iranians and Venezuelans...

http://www.nytimes.com/2014/12/25/world/europe/oils-swift-fall-raises-fortunes-of-us-abroad.html


I have been accused of being too positive on the economy as well. It's hard for me to keep track.
The lower prices are definitely good for the overall economy but it has consequences too.

The Only thing I see thats Lower is the cost of gas. and when enough folks lose their jobs that wont even matter to them.

All im saying is that if this continues its gonna be hard times coming for the working man.

[yermom]

there are lots of other people without oil jobs in the country right? now the stuff they buy is cheaper to transport, and even getting to work and stores is cheaper so they have more money to spend at those stores.

doesn't that help pretty much every business other than oil and gas and create jobs?

[olevetonahill]

there are lots of other people without oil jobs in the country right? now the stuff they buy is cheaper to transport, and even getting to work and stores is cheaper so they have more money to spend at those stores.

doesn't that help pretty much every business other than oil and gas and create jobs?

Guess we fixin to find out.

[rock on sooner]

So far, retail and restaurants are benefitting big time from lower gas prices
in the short run. Some home sales around here are doing well, too. From my
perspective, groceries are more expensive...meat and dairy, in particular. I
see steady prices in goods with long shelf life, though.

Unless something happens to oil prices...e.g. refinery fire, conflagration in big
oil producing nations, the trend will continue until tropical storm season next
spring/summer, which means the oil business will continue cost cutting.....
like Vet sez.."we fixin to find out..."

[FaninAma]

so what about the rest of the economy, where people have more money to spend along with prices falling for lots of other commodities?

weren't you all doom and gloom about hyperinflation not that long ago?

not really sure what the end game is here, but people we don't like are taking it in the shorts on this deal as well. those poor Russians, Iranians and Venezuelans...

http://www.nytimes.com/2014/12/25/world/europe/oils-swift-fall-raises-fortunes-of-us-abroad.html
No, I never thought we were at risk if hyperinflation. It has always been obvious that the Fed is going berserk with their QE programs in an attempt to stave off deflation. Europe is teetering on the brink of deflation and may already be going down that path.

Increased US production can only account for 20% or less in the fall of oil prices. The rest is due to a fall in demand. So do you think that is a good thing? And how long will Russia tolerate its economy being decimated by the Saudis?