You think the Chinese would buy an apple iPhone or Nike socks because they are all made in China??? Seems to me they are more patriotic to their country than you to the Japanese Empire of the Sun.
I have posted recent data that UE in Germany, Canada and the rest of the developed world are worse than ours. The emerging markets are still far behind but catching up fast. China went from under developed to the number 2 economy in 30 years.
We need to throw out the do-nuthin' bums. Sad truth is their approval rating is in the low teens yet nearly all of them are poised to be re-elected !!!
We know about the Wall Street layoffs and rightly so. Those are not disappointing. What's disappointing are housing remains flat (though builders are in fat profits due to higher selling prices) and manufacturing (jobs are still in Asia and not coming back anytime soon.)
ABC news have been reporting its Made in America series for over a year. Problem is Congress have not given preference to US made goods because our multinationals are making the goods overseas. Remember that our military components used to require components made in USA until the push for cheaper goods. Now much of them are made and assembled offshore. NAFTA under Clinton and of course Bushes' globalization push have not helped.
Now the game is reincorporating headquarters overseas to avoid fair taxes ... Obama proposed tax reform to close the loophole and Congress refused to go along ...
Obama policy had saved the auto industry, millions of home owners and banks. The recovery act also gave the State and local governments time to restructure instead of closing down essential services.
With that said, the Obama bull run is in fact nothing to write home about as those all time S&P and DOW highs are not much higher than their 2007 highs, 7 years ago; not much higher than their 2000 highs, 14 years ago.
Median Incomes Fell for All But Richest in 2010-13, Fed Says
By Victoria Stilwell and Craig Torres Sep 4, 2014 9:00 PM PT
Only the richest Americans enjoyed gains in income from the economic recovery during 2010-2013, as median earnings fell for all others, a report from the Federal Reserve showed.
Median income adjusted for inflation rose 2 percent to $223,200 for the wealthiest 10 percent of households from 2010 to 2013, the Fed said yesterday from Washington in its Survey of Consumer Finances, taken every three years. The bottom 60 percent saw the biggest declines.
The Obama bull has everything to do with Wall Street and not so much for Main Street. You do know that only the top 10% have significant assets in both Real Estate and stock market right?
Canada Posts Surprise August Job Decline
By Greg Quinn Sep 5, 2014 5:54 AM PT
Canadian employment unexpectedly fell in August including a record drop in private-sector jobs, undermining policy makers’ optimism about the economic recovery.
Employment fell by 11,000 and the jobless rate was unchanged at 7.0 percent, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg News projected a 10,000 job increase and unchanged unemployment according to the median forecasts.
The total employment loss masked the 111,800 decline in private-sd total that also matched a 1 percent drop set in April 1982.
I had posted Uncle Ben's trickle down theory with his ZIRP and QE policies. I pointed out then that tickle down did not work in Reagan years for the average joes, only for the rich.
Congress members used to scoff at the fed but had long been silent while chose to do nuthin' in fiscal policy other than privatizing SS and Medicare ... the people need to vote out all incumbents this Nov.
While we are much better off than Japan and Europe, thanks to fiscal stimulus besides QEs. Agree that the number is NFG. The blame falls on the job creators and do-nuthin congress. The Fed tried but failed to help main street except the top 10% as you say.
The 142,000 advance in payrolls was weaker than the lowest estimate in a Bloomberg survey and followed a revised 212,000 gain in July, figures from the Labor Department showed today in Washington. The median Bloomberg survey estimate was for a 230,000 increase. The unemployment rate fell to 6.1 percent from 6.2 percent in July, reflecting a drop in joblessness among teenagers.
Employers that boosted headcounts in the first half of the year may be more restrained in their hiring as they await even faster economic growth.
Bill & Dave: How Hewlett and Packard Built the World's Greatest Company, Portfolio Hardcover, 2007 Michael S. Malone.
Built to Last: Successful Habits of Visionary Companies is a book written by Jim Collins and Jerry I. Porras. The first edition of the book was published on October 26, 1994
In Search of Excellence is an international bestselling book written by Tom Peters and Robert H. Waterman, Jr.. First published in 1982
The 8% miss is management and you hope the job creators would stop laying off workers to fatten up their bonuses, dividends, stock buybacks and more M&As which leads to more lay offs etc.
Jobless Claims +4K to 302K
Initial Jobless Claims: +4K to 302K vs. 300K consensus, 298K prior (unrevised).
Continuing Claims -64K to 2.46M.
ADP jobs number, with gains of 204K vs. expectations of 220K. In addition, July's 218K job gain was revised lower by 6K.
Earlier, the ECB cut rates by 10 basis points across the board.
The central bank, says Draghi, will start to purchase a broad portfolio of euro-denominated covered bonds and also begin to buy ABS, with further details coming in October. It sounds like the Germans are on board: "Should it become necessary, the Governing Council is unanimous in using additional measures."
Reminder that you must submit trade data by Sep 16.
Recap that HP tanked about 25% during that period. You won't get any money if you made money trading during that time frame.
From Bloomberg this morning:
According to NATO figures, the U.S. spent $735 billion on defense in 2013, or about 4.4 percent of gross domestic product. The other 27 NATO nations spent $288 billion combined, averaging only 1.3 percent of GDP. The NATO target for defense spending is 2 percent, yet in 2013 only the U.S., Greece, Estonia and the U.K. met or exceeded that level.
Released On 9/3/2014 8:15:00 AM For Aug, 2014
Prior Consensus Consensus Range
ADP employment 218,000 223,000 190,000 to 244,000
Market Consensus before announcement
ADP private payroll employment estimate for July was 218,000. The BLS private payroll gain for July was 198,000.
sym Last wk Today Week
dow 16957.84 17097.03 0.82%
nas 4449.56 4580.27 2.94%
spx 1978.28 2003.27 1.26%
hp 35.43 38.01 7.28%
sym Jul-end Today MTD
dow 16563.62 17097.03 3.22%
nas 4369.77 4580.27 4.82%
spx 1930.75 2003.27 3.76%
hp 35.61 38.01 6.74%
You wrote: "you've never lived around black kids in the hood." Kids are kids. There are horrible white kids in any hood. There are bullies in any school, lily white or pitch dark.
And what's your point, the Black or Chicano kids stay away because the white kids here would beat them senseless if the police don't get to them first.