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^ You got shares in ATHR? :tieme:Lucky b-tard. Still, the only reason it when up is coz the co exceeded expectations -- hey, rev of $112 mil (that's illion with an M not a B) and a $250,000 net loss (that's chump change). Wow, what a great company! Why are you comparing it to Verizon? Chipmaker vs provider? Atheros works more with Nintendo and various cell phone makers...
No shares in Athr, just now. Not comparing Athr with Vz. Just making the analogy that Verizons tv box has 6 chips from Athr inside. Therefore Verizon must be shifting boxes, no?
You know, one thing that makes me laugh about bears, they have missed the biggest fucking rally of a lifetime since March 9th. They haven't earned a fucking carrot:) Normal people have been printing money but the tin foilers are flat broke and it shows in their tone when you listen to them. They dare not even answer the phone anymore for fear of it being their margin clerk.....again :rofl:
They know that they have fucked up but they just cant adapt and go with the general direction of things right now. Keep trying to fight the US Gov. There's only going to be one winner.
^ Now, Spins, just coz the market's gone up in the past week, you are bully bink? Sure, the market is good for short-term traders right now, but would park your cash in any of these long term? What bugs me the most is the uncertainty about govt policies. I am not a cuddly bunny right now.
Week? 4+ months? Hello?Quote:
Originally Posted by Jet Gorgon
i dont understand why you would ask this question? 4 months ago US stocks were priced at 1996 levels. Who in their right mind wouldn't buy and hold long term at those levels? I got some FCX at 19$, it was 120$ and is now 58$.Quote:
Originally Posted by Jet Gorgon
I've come to think that the US government realise that a key part of getting out of this mess is to reflate the markets to create wealth. Abetted by government Sachs SLP program, the market is programmed in one direction, wouldn't you agree?
ABC News: Geithner Won’t Rule Out New Taxes For Middle Class. Hey, wait, I thought Obama promised that no one making less than $250,000 a year would see a tax increase?:smileylaughing:
Link & Entire: http://www.nytimes.com/2009/08/11/op...er=rss&emc=rssQuote:
Some 247,000 jobs were lost in July, a number that under ordinary circumstances would send a shudder through the country. It was the smallest monthly loss of jobs since last summer. And for that reason, it was seen as a hopeful sign. The official monthly unemployment rate ticked down from 9.5 percent to 9.4 percent.
But behind the official numbers is a scary story that illustrates the single biggest challenge facing the United States today. The American economy does not seem able to provide enough jobs — and nowhere near enough good jobs — to maintain the standard of living that most Americans have come to expect.
The country has lost a crippling 6.7 million jobs since the Great Recession began in December 2007. No one is predicting a recovery in the foreseeable future powerful enough to replace the millions of jobs that have vanished in this historic downturn.
Analysts at the Economic Policy Institute noted that the economy has fewer jobs now than it had in 2000, “even though the labor force has grown by around 12 million workers since then.”
Two issues that absolutely undermine any rosy assessment of last week’s employment report are the swelling ranks of the long-term unemployed and the crushing levels of joblessness among young Americans. More than five million workers — about a third of the unemployed — have been jobless for more than six months. That’s the highest number recorded since accurate records have been kept.
For those concerned with the economic viability of the American family going forward, the plight of young workers, especially young men, is particularly frightening. The percentage of young American men who are actually working is the lowest it has been in the 61 years of record-keeping, according to the Center for Labor Market Studies at Northeastern University in Boston.
^ And in the mean time, roughly 1.4 million LEGAL migrant workers are allowed entry into the US per year...
At some point, unemployed Americans will have to accept jobs that were once 'beneath' their status quo in order to feed & shelter themselves...
Good point, Maud.Quote:
Originally Posted by Muadib
We can also add some of the H1-B visa holders (foreigners brought to work in the US). I understand many H1-B holder can fill positions that are difficult to fill in the US.
The overall point of the article and your and my comments: Americans may have to get used to a lower standard of living.
^ If you were unemployed for six months, I bet you'd already be used to it. And, that article fails to note the real unemployment figure -- you know, people who gave up looking, those off the unemployment pay rolls, young folks. That number is more like 16-17 million, no?
If Americans alter their standard of living, the rest of the world will be forced to do so, too.
Why on earth should they do that ?, they are already on their natural levels, it was the Americans that where living way over their means for borrowed silver and now as a consequence are burdened with a massive debt, granted country's like China and Japan that rely very heavily on export to the US might suffer, but many country's around the world are not so strongly dependant on "cheap crab" exports solely to the US, that a reduction will have major impact on their long standing stable much more healthy economies.Quote:
Originally Posted by Jet Gorgon
Long-standing? Who's that, Larv? Sure, Norway and pals are doing well because of all that black gold. Funny, I thought the Scandies were greenies.Quote:
Originally Posted by larvidchr
Well, government money has averted a total crash in the financial system and a likely Depression. The economy seems to be stabilising, signs emerging that the economy might be bottoming. Thats the good news.
The bad news is the US and many other nations are going to be left with a massive hangover of debt, and that the US faces a scary reality, as per the excellent article linked in Milkmans post #1506 above- structurally, it's economy just cannot produce the number of jobs required for it's population. This is a direct corollary of the wholesale shipping of low cost jobs offshore as has been occurring over the past 20 years and more.
For the US to address this structural problem, it has few options-
Manufacturing sector jobs can be brought back onshore, but this can only happen if it is competitive to do so. Favourable Tax policies/ incentives may help, as might a fall in the US dollar.
Minimum wages can be reduced, or frozen - but in the US they already hover around the lowest in the developed world, so there is not much fat to be trimmed there.
Immigration, both legal and illegal, can be reduced. I would think this is necessary.
One things for sure- economic growth in the USA will not match the hyped up, debt inflated levels of the 1990's and early 2000's, at least not for the foreseeable future.
On a more academic level, the short-sighted Monetarist school of economic policy has wrought structural havoc on the economy of the USA. Basically, it has enriched and enlarged the financial sector (and the Rich) at the expense of just about everyone else.
This is a serious problem in the US now and for the future. As this was being strategically done, a few voices noted what was happening. But most didn't pay attention, nor could they do anything, as this was/is the official policy.Quote:
Originally Posted by sabang
I believe, the US has NO options to address this.Quote:
For the US to address this structural problem, it has few options
Sure they do! Get the Healthcare bill passed and then ration who gets care. Get rid of the elderly, mentally ill, sick babies -- anyone who can't work and pay taxes.Quote:
Originally Posted by Milkman
^ I know you're joking but health care has nothing to do with the outsourcing of US jobs and the fact that there are less job today than in 2001, even though there are 12 million more workers.
The average middle class US citizen doesn't have all that good a standard of living compared to other developed western countries in the first place. While the PPP (purchase price parity) shows average US wealth as among the highest in the world, that doesn't filter down to the average working class family because of the huge disparity in incomes in USA compared to other developed nations.
The US right wing capitalist philosophy made USA a very competitive manufacturing export based country in decades gone by, but now we see a country surviving on international debt because they have been living above their means for so long. A cut in the countries living standards wont hit the wealth class too hard as they have a huge income buffer to play with, but for the poor and middle classes who have already had their living standards trimmed to the bone, it will mean severe hardship. The one saving grace for them is that if Obama can bring in a universal health care system for everyone it may make life a little bit less stressful.
^ Wow, really? So they won't worry about the $trillion bucks it will cost? Oh, ya, just print more money.
Its actually BORROW more and print more. The US economy is a boil on the worlds back and the sooner it bursts the better for everyone on the planet including US citizens.Quote:
Originally Posted by Jet Gorgon
Not everything is apparently pointing towards better times in the US economy, and with the resent news about the Chinese economy possibly imploding there could still be very bad times ahead.
US retail sales dip in July
Writer: AFPPublished: 13/08/2009 at 09:00 PM US retail sales unexpectedly dipped 0.1 percent in July after rising in the two previous months, government data showed Thursday in a report highlighting weak consumer demand amid a long recession.
https://teakdoor.com/images/smilies1/You_Rock_Emoticon.gif A shopper carries purchases in San Francisco. US retail sales unexpectedly dipped 0.1 percent in July after rising in the two previous months, government data showed.
The Commerce Department's headline figure surprised most analysts who had expected a monthly sales increase of 0.7 percent.
The department said June sales rose a revised 0.8 percent, up two-tenths of a point from the initial estimate.
The retail sales report came a day after the Federal Reserve left its key interest rate unchanged, as expected, and said the recession-mired economy was showing signs of improvement but "activity is likely to remain weak for a time."
The monthly retail sales data signal the direction of consumer spending, which accounts for roughly two-thirds of output in the world's largest economy.
After slumping in the second half of 2008, the seasonally adjusted monthly retail sales data, which do not reflect price changes, has shown only four months of rising sales since the start of the year.
July sales were 8.3 percent below their year-ago level.
Auto sales were the strongest gainers, up 2.4 percent, benefiting from the government's "cash-for-clunkers" incentives program.
Excluding automobile sales, which can vary widely from month to month, retail sales fell 0.6 percent in July, steeper than the consensus forecast of a 0.1 percent drop and following a 0.5 percent gain in June.
In a grim sign of weakening consumer demand that could restrain economic recovery, core retail sales -- excluding automobiles and gasoline, whose price is often volatile -- fell for the fifth consecutive month, by 0.4 percent, after a 0.1 decline in June.
Only five of the sales index's 13 components rose in July. Apart from the surge in vehicle sales, the strongest gain was a 0.7 percent rise in health and personal care store sales.
The sharpest sales declines, above 2.0 percent, were in building material and garden equipment stores and gasoline stations.
Economists warn that US consumer spending is under pressure as households saving rates increase in the face of a painful recession that began in December 2007 and high unemployment rates that could last at least into next year.
US consumer spending nose-dived in the second half of 2008, when the global financial crisis accelerated and pulled the world economy into a deep slump.
Consumers cautiously opened their wallets in the first quarter, pushing spending up at an annualized rate of 0.5 percent, but spending fell back 1.2 percent in the April-June period, according to official data.
Together with this from the US housing thread! -
From a post by S Landreth-
"U.S. home loans failed at a record pace in July despite ongoing federal and state programs to avoid foreclosures, which have severely strained housing and the economy.
Foreclosure activity jumped 7 percent in July from June and 32 percent from a year earlier as one in every 355 households with a loan got a foreclosure filing, RealtyTrac said on Thursday.
link: http://www.cnbc.com/id/32397338"
"Foreclosure activity jumped 7 percent in July from June and 32 percent from a year earlier" Without a recovery in jobs how will there be a end to the foreclosure epidemic and a recovery in consumption? I just don't see it. Now the commercial real estate crash is also getting underway.Quote:
Originally Posted by larvidchr
You're right, but try convincing the "average middle class US citizen" of that.Quote:
Originally Posted by Panda
Actually I've repeatedly been told by Americans that I'm jealous/envious that I'm not American.Quote:
Originally Posted by robuzoYou're right, but try convincing the "average middle class US citizen" of that.Quote:
Originally Posted by Panda
Yet none of them have ever been able to tell me why that should be the case - i.e. what's intrinsically 'better' about being American? What do I gain if I were that I don't currently have?
:confused:
I hope you don't mean repeatedly by the same Americans- if so I'd recommend finding some different Americans to hang out with.Quote:
Originally Posted by AntRobertsonActually I've repeatedly been told by Americans that I'm jealous/envious that I'm not American.Quote:
Originally Posted by robuzoYou're right, but try convincing the "average middle class US citizen" of that.Quote:
Originally Posted by Panda
My sister-in-law (in-laws have a way of reminding one of the old "you can pick your nose but not your family" adage in an especially painful way) once spammed out a video with the "I'm proud to be an American/Where at least I know I'm free" song in the background. So that must be it- at least we know we're free, unlike those other not-free countries. (Presumably Americans feel better comparing themselves with places like NoKo, Libya, and Iran). Yeah, I know you Euro-weenie and Austro-Kiwi types think you're free, but that's only because you thrive under the American Security Umbrella. Without us you'd all be speaking German. . .Russian. . .Japanese. . .Chinese or some other language that isn't American.
Here's the music video for the aforementioned song. I recommend it to all aspiring bulimics. And remember, never forget what that bastard Saddam did to us on 9/11:
YouTube - God Bless The USA(with lyrics)
So you could learn to say "fish" instead of "fush"?Quote:
Originally Posted by AntRobertson
:) No, not the same ones. Actually the ones I hang out with are pretty cool and not prone to repeating themselves unless copious amounts of alcohol are involved.Quote:
Originally Posted by robuzo
But in all seriousness there seems to be small, but highly vocal, minority who crack the 'you're jealous' line out at even a hint of critisim.:rofl:Quote:
So that must be it- at least we know we're free, unlike those other not-free countries. (Presumably Americans feel better comparing themselves with places like NoKo, Libya, and Iran). Yeah, I know you Euro-weenie and Austro-Kiwi types think you're free, but that's only because you thrive under the American Security Umbrella. Without us you'd all be speaking German. . .Russian. . .Japanese. . .Chinese or some other language that isn't American.