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View Diary: An upbeat economic diary for Thanksgiving (74 comments)

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  •  Nice try, but not good enough (6+ / 0-)

    New home sales are where they've been for the last 4 months. They haven't really changed materially in the last year and a half.  Not really higher, not really lower.

    Durable goods is a notoriously volatile series.  This month came in about 1.5% lower than expected.  And last month was revised higher -- by 1.5%.

    "When the going gets tough, the tough get 'too big to fail'."

    by New Deal democrat on Wed Nov 24, 2010 at 07:54:42 AM PST

    [ Parent ]

    •  oh please (0+ / 0-)

      nice try is those bullshit employment numbers, unadjusted the numbers are just as bad as ever at 455,ooo or more.

      as for housing, existing homes sales have tanked also, along with the foreclosure crisis looming, broke states, and desperate Europe, and on and on and on.  Yet ou keep trying to sell the happy days are here agion Bullshit.  You do a great disservice to people selling this sanke oil.

      People should not being taken on new debt and so forth, 2011 could be avery very rough ride, especially with republicans back in the game.

      The child has grown, the dream is gone. I have become comfortably numb.

      by dark daze on Wed Nov 24, 2010 at 07:59:17 AM PST

      [ Parent ]

      •  Nice try again (5+ / 0-)
        Recommended by:
        jj32, Pozzo, LookingUp, randomfacts, Deep Texan

        The "foreclosure tsunami" much touted round here never happened.

        Existing home sales are also neither improving nor getting worse, they have been bouncing along the bottom for nearly two years as well.

        Don't try that cherry-picking NSA number bullshit with me.  It hasn't worked before (see summer, 2009) and it won't work now.

        "When the going gets tough, the tough get 'too big to fail'."

        by New Deal democrat on Wed Nov 24, 2010 at 08:01:45 AM PST

        [ Parent ]

        •  right cause you fail to open your eyes (0+ / 0-)

          you take certain bullshit goverment numbers as gospel, and ones you dont like you just push away and ignore.

          Ridiculous. If you have to take you happy pills to get through they day, go for it, just save us the bullshit that things are gonna get better here anytime soon.    

          As for the foreclosure tsunami never happening, LOL,, where the hell you been these last few years, it happened.  Its is so bad in fact that banks are in big as trouble for screwing up the paper work so badly. Just another headwind coming down on us.

          My god,  how can anyone take you seriously when you say shit like that,  "Foreclosure tsunami never happened".. LOL  my god.

          The child has grown, the dream is gone. I have become comfortably numb.

          by dark daze on Wed Nov 24, 2010 at 08:06:19 AM PST

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        •  as for existing home sales (0+ / 0-)

          Existing home sales declined in October, as fewer people decided to buy a new place to live. The number of existing homes sold last month fell 2.2 percent from September, according to the National Association of Realtors. Compared to 12 months ago, existing home sales are off 25.9 percent, more evidence that the housing crisis has not yet reached bottom.

           so much for your bullshit that they to are flat

          The child has grown, the dream is gone. I have become comfortably numb.

          by dark daze on Wed Nov 24, 2010 at 08:07:40 AM PST

          [ Parent ]

      •  NDD (4+ / 0-)

        has never said the happy days are here again.  He has always said that the recovery would be a tough one, and job creation would be sluggish.  Which is why he has always said that we needed more stimulus, particularly to offset the layoffs by state and local governments.

        However, he also been far more accurate than others here about the future direction of the economy, who 3 months ago were proclaiming breathlessly that the double dip was coming.

        In fact I have lost count of the number of things that were going to bring the economy to collapse.  First it was Kuwait, then Greece, now its Ireland and the robo signer scandal.

        The truth is none of these things panned out in anyway close to advertised.  None of them were significant enough to bring out the double dip recession that we have been assured is coming.

        The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

        by fladem on Wed Nov 24, 2010 at 08:21:07 AM PST

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        •  and you (0+ / 0-)

          and you think we are out of the woods?  You think especially with a republicna congress, good times for average americans is just a day away?

          My god.  Cancer doesnt kill you in a day either, just because it hasnt , doesnt mean it wont.

          The child has grown, the dream is gone. I have become comfortably numb.

          by dark daze on Wed Nov 24, 2010 at 08:24:18 AM PST

          [ Parent ]

          •  I think the chances (3+ / 0-)
            Recommended by:
            Pozzo, Fury, Deep Texan

            of a double dip in 2011 are very low.  I also think the chances of fast job growth aren't great, but may surprise.

            I also wish that I used some of the diaries that have appeared here as a buy signal, since usually whenever they write about something collapsing, that asset usually goes up.

            The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

            by fladem on Wed Nov 24, 2010 at 08:45:35 AM PST

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            •  We have two economies, for those that have made (0+ / 0-)

              it through, things will be fine.  For those of us caught in the vortex of this recession, we are cooked and done, we have lost our jobs, we will lose our homes and we have been voted off the island.  It is a bigger portion than it used to be but still we had to be sacrificed so that the economy could reset and corporations could post huge profits.  We were the dirt  on which the new reality is being built.   To those of us about to drown, we understand that the rest of the country has more important things to do.  Happy days are here again!!!!!

              "New TSA slogan: can't see London, can't see France, unless we see your underpants."

              by lakehillsliberal on Wed Nov 24, 2010 at 01:06:58 PM PST

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        •  That's why I included graphs from 6-12 months ago (3+ / 0-)
          Recommended by:
          Fury, zbbrox, Deep Texan

          So there could be no doubt that the relationship continued this year.  "This time it's different" was as usual not correct.

          And yet, in the face of clear evidence that is literally right in front of their eyes, they deny it.

          Confirmation bias is a very powerful force.

          "When the going gets tough, the tough get 'too big to fail'."

          by New Deal democrat on Wed Nov 24, 2010 at 08:30:23 AM PST

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          •  oh my god (0+ / 0-)

            it is different,  If this was the typical cyclical recession, we would be seeing a massive explosion in the GDP,  job coming back by the truckload by now, and the fed would have to worry about an overheating economy.  WE see NONE of that.

            The child has grown, the dream is gone. I have become comfortably numb.

            by dark daze on Wed Nov 24, 2010 at 08:34:14 AM PST

            [ Parent ]

            •  I don't think NDD denied... (3+ / 0-)
              Recommended by:
              Pozzo, New Deal democrat, Deep Texan

              ...the recession was not a "typical cyclical recession". What he denied was that the atypical nature of the recession means that all the leading indicators that have been tracking very well for the last two years must be thrown out the window and will diverge. Because they haven't. The leading indicators have continued to mirror employment, and so there is as of yet no real reason to believe they won't continue to do so.

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