DOW over 9k and rising, unemployment starting to drop, Freddie stabilizing...

[Beckwin]

Are we starting to see a turning point in this economic recession? I'd still say it's too early to be sure, but these are good things to see nonetheless.

some sauce if you need it:
Investors finally find good news on unemployment - Yahoo! Finance

Freddie Mac's loss narrows, eschews federal aid - Yahoo! Finance

Surprisingly strong jobs data signal turning point - Yahoo! Finance

[Indalecia]

Obamessiah delivers?

[Senoska]

Fuck the conservative doomsayers. Way to go, Obama.

[Sol-Blackguy]

http://www.imagebeast.net/images/vtw...ocbcsrpxio.jpg

...best I could do right now >.>

[Dezzimal]

Can't get too ahead of ourselves here. Its a short upturn thus far.

[Blarg]

Great day for kenyan politics

[Plow]

I'd say more than a "turning point" it looks like the point where the rate of descent into even-shittier-ness is beginning to slow.

Which is still mind boggling to have achieved this fast. If it stands to be, it's easily as impressive as Clinton's progress.

[Beckwin]

anyone know off-hand how much of the stimulus has actually been distributed? I'm pretty sure there's still a lot left; if it gets used for job creation going into the holiday season we could actually see a big change in consumer confidence. a big holiday season for retailers could be big in the long term.

[_chuchu]

Can't get too ahead of ourselves here. Its a short upturn thus far.

It'll probably also still be a jobless recovery for a year or more. Slow to hire, quick to layoff kinda thing

[_chuchu]

anyone know off-hand how much of the stimulus has actually been distributed? I'm pretty sure there's still a lot left; if it gets used for job creation going into the holiday season we could actually see a big change in consumer confidence. a big holiday season for retailers could be big in the long term.

supposedly 10-15% was what I heard last week

[Senoska]

Except that picture was taken last week.
http://i29.tinypic.com/detc93.jpg

edit: response to Sol-Blackguy

[sephir]

It'll probably also still be a jobless recovery for a year or more. Slow to hire, quick to layoff kinda thing

sadly that is likely what is going to happen. Whats unfortunate for Obama is that he is unlikely to see the results of the eventual job gains by the time of the midterms.

But as far as the stock market goes, its not the best indicator of the economic situation. I wouldn't use it as an indicator of what the overall economy is like. I would say interest rates, unemployment rate, GDP growth etc. are much better indicators of the whole picture.

[_chuchu]

sadly that is likely what is going to happen. Whats unfortunate for Obama is that he is unlikely to see the results of the eventual job gains by the time of the midterms.

But as far as the stock market goes, its not the best indicator of the economic situation. I wouldn't use it as an indicator of what the overall economy is like. I would say interest rates, unemployment rate, GDP growth etc. are much better indicators of the whole picture.

Exactly

sauce for Beckwin's question: Stimulus: White House tells critics not to judge yet - Jul. 6, 2009

With August quickly approaching, roughly $75 billion, or 10% of stimulus funds, have been paid out, and the unemployment rate has already risen to 9.5%.

Gotta also note that many budgets continue to be slashed and we'll have to see how the ball continues to roll after the money has all been spent.

Edit: info from article is also in wsj. it's where I saw it first when it was published

[Plow]

sadly that is likely what is going to happen. Whats unfortunate for Obama is that he is unlikely to see the results of the eventual job gains by the time of the midterms.

But as far as the stock market goes, its not the best indicator of the economic situation. I wouldn't use it as an indicator of what the overall economy is like. I would say interest rates, unemployment rate, GDP growth etc. are much better indicators of the whole picture.

I *think*... and I don't want to get too overconfident in the general American populace here... but I think at the moment the thought processes are clear enough to realize that halting the downward motion, even if not completely reversing it, is a significant enough step to instill enough confidence to get us through the midterms.

That, and the loud part of the far right wing is getting sooooo far out there, the reasonable ones are basically forced into realizing that it's getting crazy.


You also have to realize the effect he has on the rest of the world's economy simply by instilling confidence, which can be one of the greatest factors in rate of recovery.

[archibaldcrane]

That, and the loud part of the far right wing is getting sooooo far out there, the reasonable ones are basically forced into realizing that it's getting crazy.

Pssh, what are you talking about - the right wing is the only sensible party.

Take this sensible quote for example: Palin says Obama's health care plan is 'evil' - Yahoo! News

ANCHORAGE, Alaska – Former Alaska Gov. Sarah Palin called President Barack Obama's health plan "downright evil" Friday in her first online comments since leaving office, saying in a Facebook posting that he would create a "death panel" that would deny care to the neediest Americans.
"The America I know and love is not one in which my parents or my baby with Down Syndrome will have to stand in front of Obama's 'death panel' so his bureaucrats can decide, based on a subjective judgment of their 'level of productivity in society,' whether they are worthy of health care," the former Republican vice presidential candidate wrote.

YOU BETCHA!

[ertyu]

A lot of the big corporations merged this year due to the financial crisis. With those mergers came drastic job losses cut across the board. I think it'll be a while before companies are really comfortable going back to hiring pre economic crisis level. I am not really qualified to say if Obama and TARP helped the market climb to where it is now, but we'll see what the long term implications of this are.

Btw, did anyone hear that Goldman already paid back TARP? I thought that was pretty amazing, lol.

[_chuchu]

A lot of the big corporations merged this year due to the financial crisis. With those mergers came drastic job losses cut across the board. I think it'll be a while before companies are really comfortable going back to hiring pre economic crisis level. I am not really qualified to say if Obama and TARP helped the market climb to where it is now, but we'll see what the long term implications of this are.

Btw, did anyone hear that Goldman already paid back TARP? I thought that was pretty amazing, lol.

with the profits/sales reports they made, of course.

[Odesseiron]

Hell yeah! Only 247,000 jobs cut in July! Down .1 percent from June!!! Stop the presses, Obama is fucking the savior of the universe! Stimulus is still the biggest crock of shit I have ever seen. Hopefully more motor companies will continue to go bankrupt with us giving them billions! Okay, going back into my bunker. Proceed with the brick throwing at the *girly scream* conservative(s)!

[sephir]

A lot of the big corporations merged this year due to the financial crisis. With those mergers came drastic job losses cut across the board. I think it'll be a while before companies are really comfortable going back to hiring pre economic crisis level. I am not really qualified to say if Obama and TARP helped the market climb to where it is now, but we'll see what the long term implications of this are.

Btw, did anyone hear that Goldman already paid back TARP? I thought that was pretty amazing, lol.

Theres actually a lot of discussion going on right now on whether or not they should be allowed to pay it back. The rational is that the economy could potentially still experience a downturn and that TARP money could be a bit of a buffer for them. Also much of what is left over from the money paid back will likely be in bonuses for the executives (since they wont have the TARP bonus restrictions anymore).

[Vajra]

Great day for kenyan politics

Yay for retards like Blarg. How bout you, who lives in Canada, gtfo please kkthxbai. You don't even live here, and you believe Obama wasn't born in the US lol? GTFO!!! HE WAS BORN IN HAWAII.

If McCain won the election, we'd probably not be discussing the fact that he was born on the Panama Canal, and we'd not be arguing about how that area wasn't a U.S. controlled territory at the time (By the NAVY), because he is white, and all Presidents must be white, or it is WRONG. People are just trying to stirr up bullshit about Barack (Socialist, Communist, Terrorist (Because he met Ayers once), Muslim (Because his middle name is Hussein), AntiChrist, Not A US Citizen, Racist (Because he sided with his long time friend Professor Gates, instead of Crowley), blah blah blah blah).

Well, I can tell you one thing Mr. Canadian Blarg, go make me some maple syrup and prepare my winter olympics, because I cannot wait to watch it on my HDTV, and PLEASE get off the USA's dick, because you dont even live here bitch!