Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Data suggest economy stagnating

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
 
ShockediSay Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-07-08 05:25 PM
Original message
Data suggest economy stagnating
Source: Reuters

The housing market has still not reached bottom, the number of workers drawing jobless benefits has hit a 2-1/4-year high and consumers are tightening their purse strings, reports on Thursday showed, suggesting the economy may have screeched to a halt.

Pending sales of previously owned homes fell by 1.5 percent in December and were off a sharp 24 percent from a year ago, the National Association of Realtors said.

Separately, the Labor Department said new claims for unemployment aid edged down from a two-year high last week but the number of workers remaining on the benefit rolls has reached a level not seen since October 2005 in the aftermath of Hurricane Katrina.

Read more: http://www.reuters.com/article/ousiv/idUSWNAS9841200802...



Cheney said that R~gan proved deficits don't matter

!?WHAT?! THAT'S BULLSHIT!!!

Living on borrowed money =
Living on borrowed time
& the Crem de la Creme
get a free ride

while the vast majority of us
struggle to stay allive

+++++++++++++++++++++++++++++
two Americas do not =
One Great Nation

Printer Friendly | Permalink |  | Top
cliss Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-07-08 05:56 PM
Response to Original message
1. I agree, the housing market has not reached
the bottom. According to estimates, the biggest hit will be March of this year. That's when the highest number of mortgages will reset to higher interest rates.

That's when people jump off the Housing Merry go Round and walk away.

Of course, it will take some time for the real estate market to stabilize.
I don't think anyone really knows when the market will reach some kind of equilibrium.
================
Deficits don't matter?
Every time I read about the mortgage meltdown, I think about Cheney.
Stupid fool.
Printer Friendly | Permalink |  | Top
 
bluerum Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-07-08 06:06 PM
Response to Original message
2. Deficits don't matter,,, if you are one of the 1%. You own everything and
have a "workforce" that is desperate to wash, wax and oil your vintage car collection - or do anything else that you tell them to.

This economy has been so hurting for so long. How long does the lying scum media keep up the cover stories.

Maybe a recession!
Maybe slowed economic growth!
Gas prices may be higher - goes with record profits for oil companies!
Wages may be stagnant - price of everything up 20%!
Housing market may be in a downturn!
Printer Friendly | Permalink |  | Top
 
ShockediSay Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-07-08 08:30 PM
Response to Reply #2
6. Supermarket sticker shock
http://www.delawareonline.com/apps/pbcs.dll/article?AID...

Gasoline prices take a back seat to $4.50 for a gallon of milk

The six Azevedo children love milk. But lately, parents Sarah and Craig have been buying less of it.

As prices continue to hover above $4 a gallon, working families are cutting consumption and contending with another case of 21st century sticker shock. "We go through easily three gallons a week," said Sarah, 32, who lives in Bear and is contending, like most families, with a barrage of price hikes, from eggs to gasoline....In 2007, milk prices rose 19 percent, a leap that has puzzled even the people who produce and sell the stuff. Understanding the dynamics of the market requires a lesson in macroeconomics and a short course in modern globalism.
Printer Friendly | Permalink |  | Top
 
ShockediSay Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-07-08 09:30 PM
Response to Reply #2
7. "Deficits don't matter"? Fiscal? Monetary? Mental?
or Moral?
Printer Friendly | Permalink |  | Top
 
Phred42 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-07-08 06:49 PM
Response to Original message
3. No Shit. 60 mins had a CA relator on a segment the week before last
who said that he thought that we were only about 40% into the housing crash so far.

Read the Shock Doctrine.


Destroying the economy is one of the Goals of the republicans
Printer Friendly | Permalink |  | Top
 
fascisthunter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-07-08 07:00 PM
Response to Original message
4. Part of the Upper Class Ripped Off the Federal Government and
is forcing us to pay it back with interest.

It's a Class War
Printer Friendly | Permalink |  | Top
 
rocktivity Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-07-08 07:53 PM
Response to Original message
5. Candidate for this month's "You Call This NEWS?" Award
It's REALITY that suggests the economy is stagnating!

:eyes:
rocknation
Printer Friendly | Permalink |  | Top
 
ixion Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-07-08 09:33 PM
Response to Original message
8. gee, ya think?
:eyes:

Printer Friendly | Permalink |  | Top
 
ConcernedCanuk Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-08-08 12:23 AM
Response to Original message
9. Stagnating, No; it's tanking . .
.
.
.

It's in free-fall, and gonna get worse.

Long overdue methinks. Why should a country supposedly as rich as the USA owe billions of dollars to China, and who knows how much else around the globe?

I'm a poor man, but I owe next to nothing. NO credit cards, no loans, no mortgage.

I live within my means, albeit meager.

When I get a chunk of money,

it's all mine.

Now why can't a "rich" country like the USA just work on what they "have" instead of what they "want"?

Oh, it's that greed thing.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Mon Jul 14th 2014, 11:18 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC