Thread: World Economic Outlook Poll

June swoon: Economy added almost no jobs last month | The Lookout - Yahoo! News

The economy added so few jobs last month that the government calls the employment situation "essentially unchanged" from May. The news comes as a shock, after recent positive signs had led economists to predict a solid rise, and starkly underlines the trend set in other recent economic numbers: The recovery is struggling for any traction at all.

Payrolls increased by just 18,000 in June, the Labor Department said in its monthly jobs report, released this morning. That's even fewer than May's anemic total, which in today's report was revised from 54,000 down to 25,000.
Economists had expected that June would see a modest bounce back, with most forecasting yesterday that the report would show a gain of between 90,000 and 125,000 jobs.

The overall unemployment figure ticked up slightly to 9.2 percent, from 9.1 percent. There are now 14.1 million Americans officially counted as unemployed. Millions more are out of work but don't show up in the numbers, after they'd grown discouraged and stopped looking for a job.
As in May, the loss of government jobs was the key factor in the anemic performance. The number of public-sector jobs declined by 39,000, amid cuts by local and state governments. And the private-sector produced just 57,000 jobs. A survey of private employers released yesterday had found 157,000 new private-sector jobs, raising optimism that today's numbers would be far higher.

Just when I thought the US was turning around. Will it be up again Monday? Just feel hopeless about the US.

I feel that a big crash may be imminent. The Italians today had a crisis meeting unnerving market investors. Bank shares down in the UK after a recent resurgence following promises over the Greek problems by the IMF and EU.

Energy firms in the UK raising prices by a staggering 17/18% next month after a recent rise of 7%

It beggars belief that things could have worsened since 2008 but governments appeared to behaving, until quite recently that is, as though things were progressing nicely. Nothing quite like reassurring the general public i suppose whilst trying to shore up massive leaks behind closed doors.

Energy firms in the UK raising prices by a staggering 17/18% next month after a recent rise of 7%

Interesting, is there a link for this?

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Warren Buffet Bets heavily against Double Dip


Billionaire Warren Buffet said he is wagering on continued economic expansion and doesn’t expect a second recession.
“I would bet very heavily against that,” Buffett told Bloomberg Television’s Betty Liu on the “In the Loop” program today after data showed slowing U.S. job growth. “How fast the recovery will come, I don’t know. I see nothing that indicates any kind of a double dip.”

Full story at Bloomberg...

Buffett Bets




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British Gas Price Update

British Gas has today announced a price increase on domestic gas and electricity bills from 18 August. Gas bills will rise by an average of 18% and electricity bills by an average of 16%, adding an extra £190 a year for an average dual fuel customer.

Gas and electricity price changes - electricity prices and gas prices history ...

Originally Posted by crippen

British Gas Price Update

British Gas has today announced a price increase on domestic gas and electricity bills from 18 August. Gas bills will rise by an average of 18% and electricity bills by an average of 16%, adding an extra £190 a year for an average dual fuel customer.

Gas and electricity price changes - electricity prices and gas prices history ...

Privatising it seems such a fucking brilliant idea now, doesn't it?

"If you see Sid, tell him!................ gas prices are going to go through the fucking roof!".

Originally Posted by Hampsha

Energy firms in the UK raising prices by a staggering 17/18% next month after a recent rise of 7%

Interesting, is there a link for this?

===================


Warren Buffet Bets heavily against Double Dip


Billionaire Warren Buffet said he is wagering on continued economic expansion and doesn’t expect a second recession.
“I would bet very heavily against that,” Buffett told Bloomberg Television’s Betty Liu on the “In the Loop” program today after data showed slowing U.S. job growth. “How fast the recovery will come, I don’t know. I see nothing that indicates any kind of a double dip.”

Full story at Bloomberg...

Buffett Bets




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Warren Buffet is a good operator but he knows very little about macro economics. Birkshire Hathway would have been bankrupt if there was no bailouts in 2008. That says enough.....Dont look for advice from him if you want to know when the next bust will be.

Get advice from people that always get it right.

Originally Posted by socal

Get advice from people that always get it right.

Any suggestions?

Originally Posted by socal

Warren Buffet is a good operator but he knows very little about macro economics.

Originally Posted by Butterfly

Originally Posted by socal

Warren Buffet is a good operator but he knows very little about macro economics.

X 2

Originally Posted by Mid

Originally Posted by Butterfly

Originally Posted by socal

Warren Buffet is a good operator but he knows very little about macro economics.

X 2

Warren Buffet would have been bankrupt if there was no bailouts in 2008, Warren Buffet would have been bankrupt if there where no bailouts in 2008, Warren Buffet would have........

Originally Posted by BaitongBoy

Originally Posted by socal

Get advice from people that always get it right.

Any suggestions?

Anyone that is an Austrian economist. These guys dont guess.

Max Kieser, Peter Schiff and Damon Vickers. Youtube any of them before 2008, they all knew it was going to happen and listen to them now.

This was in September of 2007 btw

Originally Posted by BaitongBoy

Originally Posted by socal

Get advice from people that always get it right.

Any suggestions?

yes, anyone who is not an Austrian economist or someone named socal

will there be QE3 ?

Obama is pushing hard for large public infrastructure projects again to improve employment

Anyone that uses RT as a real news source should be anally violated.

^You think buggery is in order in this instance?...

Sorry I don't speak limey. So shove those limes up your tight british wanker ass. Fucking morons will believe what they will...

Originally Posted by harrybarracuda

Privatising it seems such a fucking brilliant idea now, doesn't it?

It did when they offered the moronic voters in the UK the chance of a few free shares (simply a bribe to appease public opinion) then sold off industries which the moronic voters already owned in the first place!

Not to mention promises of lower and fairer pricing for the consumer due to privatisation, nothing more than fucking con trick and greed wasn't the sole property of the politicians the UK voters were greedy too (human nature).

Originally Posted by harrybarracuda

"If you see Sid, tell him!................ gas prices are going to go through the fucking roof!".

"arry" If you happen tp meet Sid tell him he's fucking lying robbing wanker and he can stick his gas up his arse and preferably light it at the same time.

Originally Posted by bsnub

Sorry I don't speak limey. So shove those LIMES up your tight ass.

Fixed that for you and it wasn't difficult to get right!

Originally Posted by bsnub

Fucking morons will believe what they will

They sure will and you're living proof of that for sure!

Consumers borrowed more for 8th month in May

Consumers borrowed more in May and increased credit use for only 2nd time in nearly 3 years

WASHINGTON (AP) -- Americans took on more debt in May and used their credit cards more for only the second time in nearly three years. Consumers stepped up their borrowing just as the economy began to slump and hiring slowed.

The Federal Reserve said Friday that consumer borrowing rose $5.1 billion in May, the eighth straight monthly increase. It followed a revised gain of $5.7 billion in April. Borrowing in the category that covers credit cards increased, as did borrowing in the category for auto and student loans.

The overall increase pushed consumer borrowing to a seasonally adjusted annual level of $2.43 trillion in May. That was just 1.7 percent higher than the nearly four-year low of $2.39 trillion hit in September.

Borrowing is a sign of confidence in the economy. Consumers tend to take on more debt when they feel wealthier. That boosts consumer spending. Ultimately, it gives businesses more faith to expand and hire. But an increase in credit card debt can also be a sign of people falling on harder times.

The economy added just 18,000 jobs in June, the fewest in nine months, the Labor Department said Friday. It was the second straight month of feeble job growth. The unemployment rate rose to 9.2 percent, the highest rate of the year.

Economists have said that temporary factors, in part, have forced some employers to scale back hiring plans. High gas prices have cut into consumer spending, which fuels 70 percent of economic activity. And supply-chain disruptions stemming from the Japan crisis have slowed U.S. manufacturing production.

The increase in credit card borrowing marked only the second monthly gain since August 2008. Households began borrowing less and saving more when unemployment spiked during the Great Recession. Many have resisted pulling out their credit cards in the two years since the downturn ended. Even with the May increase in credit card debt, this category is down 4.4 percent over the past year and 18.5 percent from its peak in August 2008.

High unemployment, slow wage growth, and a weakening housing market have forced people to be more frugal. Analysts believe the rise in student loans reflects the slumping economy: more people who have lost jobs have returned to school to get training for new careers.

Most analysts had thought the economy would pick up in the second half of this year. Manufacturing output has shown signs of reviving and auto factories in Japan have resumed production. And gas prices have come down a little. The national average for gas on Friday was $3.59 a gallon, down from a peak of nearly $4 in early May.

But a weaker job market, plus the slumping housing market and fears of the fallout from a European debt crisis, could weigh on the economy for the rest of the year.

Peter Newland, an economist at Barclays Capital, said consumer borrowing would show gradual gains in coming months. But he said the modest gains were "unlikely to be a strong driver of consumer spending for some time to come."

Economists don't expect consumers to load up on debt the way they did during the housing boom. During that period, Americans felt wealthier and more willing to take on increased debt because of the soaring value of their homes.

The Federal Reserve's borrowing report includes auto loans, student loans and credit cards. But it excludes mortgages and loans tied to real estate.

Consumers borrowed more for 8th month in May - Yahoo! Finance

Originally Posted by The Bold Rodney

Originally Posted by bsnub

Fucking morons will believe what they will

They sure will and you're living proof of that for sure!

Well I am not the dipshit that takes Russia Today as a real news source. Go fist yourself dumb fuck.

^ A nasty little fwit, ain't he....

Buggery is nothing to be ashamed of, bsnub...you can tell us about fisting your gaping self...with impunity...or pineapples...take your pick...

No offence, little wanker...there you go...

Originally Posted by baldrick

will there be QE3 ?

Obama is pushing hard for large public infrastructure projects again to improve employment

There is already perpetual QE because the Feds balance sheet is so big. The Fed buys more debt with the money they make on interest. 2 trillion+, do the ponzi math.

Will there be officially another QE ? I would put the odds at 100% but they will call it something else. "interest rate caps" is what they might call it.

Originally Posted by Hampsha

Would a reverse split on the US dollar be possible?

Yeah it basically already happened, but the price of everything has just not doubled yet....yet.(for people holding dollars)

Originally Posted by bsnub

Well I am not the dipshit that takes Russia Today as a real news source.

WTF are you ranting about now? russia today WTF has that got to do with you posting like a moron?

Originally Posted by bsnub

Go fist yourself dumb fuck.

Definitely showing your intelligence level now (very low) however I'll pass on your suggestion and let you and your b/f continue fisting each other without me!

Funniest childish rant I've had the pleasure to read for a very long time!

Originally Posted by socal

for people holding dollars

all the FX talking heads are telling us the USD will make a big rebound - I have bet on CAD as I changed my pay currency because the USD has be fcukin useless ove the last 12 months