Merry Christmas America.
On Dec 5, 12:26 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote:
> My comment: I have tried topost as little as posible about US economy
> because it is just a waterfall of bad news. Unfortunely this one is
> too bad to pass silently through it.
>
> Peace and best wishes.
>
> Xi
>
> U.S. Economy: Employers Eliminate 533,000 Jobs, Most Since
> 1974http://www.bloomberg.com/apps/news?pid=20601087&sid=aLgwfpZSD.R0&refe...
>
> On Nov 3, 10:09 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote:
>
>
>
> > U.S. Economy: Factory Index Declines to 26-Year
> > Lowhttp://www.bloomberg.com/apps/news?pid=newsarchive&sid=aCB8T2i79n_8
>
> > The Institute for Supply Management's factory index fell to 38.9 from
> > 43.5 in September; 50 is the dividing line between expansion and
> > contraction.
>
> > On 30 oct, 17:29, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote:
>
> > > My comment: The purchasing power falls.
>
> > > U.S. Economy: GDP Shrinks at Fastest Pace Since 2001
> > > (Update2)http://www.bloomberg.com/apps/news?pid=20601087&sid=al..RukPocIo&refe...
>
> > > On 28 oct, 18:04, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote:
>
> > > > My comment: I have told several times that, nowadays, this index is
> > > > extremely important as, in normal circumstances, it predicts social
> > > > cohesion when its value is very high, and social unrest when its value
> > > > is very low. Its current value, 38, is extremely low for a normal
> > > > society.
>
> > > > As I told by e-mail to some of you, I thought that it would be
> > > > slightly above 50. I, and many other economists according to this
> > > > report, was wrong. Anyway, the expectation that a new president can
> > > > improve the situation probably will refrain demostrations, riots, etc.
> > > > as would be the normal consequence of this value.
>
> > > > I guess that this short period of relief that US economy is living
> > > > this month and maybe one or two months ahead, will make this index to
> > > > rise slightly until the next wave of bad news.
>
> > > > Anyway, this index becomes extremely important nowadays and has to be
> > > > monitored very close in the near future..
>
> > > > Peace and best wishes.
>
> > > > Xi
>
> > > >http://www.bloomberg.com/apps/news?pid=20601087&sid=a08qtJ.tt8ng&refe...
>
> > > > Oct. 28 (Bloomberg) -- U.S. consumer confidence fell to the lowest
> > > > level on record in October as stocks plunged and banks shut off
> > > > credit, raising the risk spending will collapse.
>
> > > > The Conference Board's confidence index tumbled to 38, lower than
> > > > forecast and the worst reading since monthly records began in 1967,
> > > > the New York-based research group said today. A separate report showed
> > > > home values continued to drop in August.
>
> > > > Stocks pared gains on the outlook for consumer spending, which
> > > > accounts for more than two-thirds of the economy. The report
> > > > strengthened expectations that the Federal Reserve will lower interest
> > > > rates again after a likely reduction tomorrow.
>
> > > > ``It'll be a prolonged recession,'' said Carl Riccadonna, a senior
> > > > economist at Deutsche Bank Securities Inc. in New York. ``We're
> > > > looking at a very sharp pullback in consumer spending. As go
> > > > consumers, so goes the broader economy.''
>
> > > > Whirlpool Corp., the world's largest appliance maker, said today it
> > > > will cut 5,000 jobs and forecast lower annual profit as the global
> > > > credit crunch and U.S. housing slump clips appliance sales. Royal
> > > > Caribbean Cruises Ltd., the world's second-largest cruise operator,
> > > > forecast profit that trailed some analysts' estimates because of a
> > > > ``significant deterioration'' in bookings.
>
> > > > The confidence report underscored voter discontent with the country's
> > > > direction heading into the Nov. 4 presidential election. A majority of
> > > > voters think Illinois Senator Barack Obama, the Democrat, will be
> > > > better able to handle the economic turmoil than Republican rival John
> > > > McCain, according to polls.
>
> > > > Consumer confidence was projected to drop to 52, according to the
> > > > median estimate in a Bloomberg News survey of 66 economists. Forecasts
> > > > ranged from 45 to 56.6. September's reading was revised up to 61.4
> > > > from an originally reported 59.8.
>
> > > > Heading South
>
> > > > ``The economy feels like it is contracting at a rapid pace,'' Lewis
> > > > Alexander, chief economist at Citigroup Global Markets Inc. in New
> > > > York, said in a Bloomberg Television interview. ``It's clear that
> > > > consumers have really been affected by the volatility we've seen in
> > > > the last six weeks.''
>
> > > > The Standard & Poor's 500 index rose 9.4 points, or 1.1 percent, to
> > > > 858.34 as of 11:50 a.m. in New York, after being up almost 33 points
> > > > earlier. Treasury securities fell.
>
> > > > The 23.4-point drop in confidence this month was the third- biggest on
> > > > record, trailing two plunges in the early 1970s linked to oil shocks.
> > > > Measures on current conditions and expectations both declined.
>
> > > > Home prices in 20 U.S. metropolitan areas dropped 16.6 percent in
> > > > August from the same month in 2007, the fastest pace since year-over-
> > > > year records began in 2001, a report from S&P/Case-Shiller today
> > > > showed. For a fifth consecutive month, all areas registered a decrease
> > > > in prices from a year earlier.
>
> > > > Foreclosures Climb
>
> > > > The housing slump is likely to extend well into a fourth year as
> > > > foreclosures put more properties on the market and drive down prices
> > > > even more.
>
> > > > The Conference Board's measure of present conditions dropped to 41.9
> > > > from 61.1 the prior month. The gauge of expectations for the next six
> > > > months slumped to 35.5 from 61.5.
>
> > > > The share of consumers who said jobs are plentiful dropped to 8.9
> > > > percent from 12.6 percent last month. The proportion of people who
> > > > said jobs are hard to get jumped 5 points to 37.2 percent.
>
> > > > The proportion of people who expect their incomes to rise over the
> > > > next six months dropped to 10.8 percent from 15.1 percent. The share
> > > > expecting more jobs decreased to 7.4 percent from 11.9 percent.
>
> > > > The confidence figures corroborate declines seen in other measures. A
> > > > report earlier this month showed the Reuters/University of Michigan
> > > > preliminary index of consumer sentiment decreased in October by the
> > > > most on record.
>
> > > > The Conference Board's index tends to be more influenced by attitudes
> > > > about the labor market, economists have said.
>
> > > > Job Losses
>
> > > > The economy lost jobs for nine consecutive months through September,
> > > > bringing the total drop in payrolls to 760,000 this year, Labor
> > > > Department figures showed. Some economists anticipate job losses
> > > > accelerated in October.
>
> > > > Consumer spending probably dropped last quarter by the most in almost
> > > > two decades, economists forecast a Commerce Department report will
> > > > show in two days. As a result, the economy probably shrank from July
> > > > to September, the survey showed.
>
> > > > Today's confidence report showed fewer people planned to purchase
> > > > automobiles and major appliances. Home-buying plans improved.
>
> > > > The slump in spending may be even bigger this quarter as consumers
> > > > retrench. The International Council of Shopping Centers predicts the
> > > > November-December holiday season, which brings in more than a third of
> > > > some retailers' annual sales, will be the weakest since 2002.
>
> > > > The credit freeze ``impacted consumers' attitudes,'' Farooq Kathwari,
> > > > chief executive officer of home-furnishings retailer Ethan Allen
> > > > Interiors Inc., said in a Bloomberg Television interview this month.
> > > > ``People are cautious, people are holding back.''- Hide quoted text -
>
> - Show quoted text -
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