Those who have been following the US debt to GDP ratio now that the US officially does not have a debt ceiling indefinitely, may have had the occasional panic attack seeing how this country’s leverage ratio is rapidly approaching that of a Troika case study of a PIIG in complete failure. And at 107% debt/GDP no explanations are necessary. Luckily, the official gatekeepers of America’s economic growth (with decimal point [...]
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Dow 14,550-1120.76% 3,219-361.10% S&P 500 1,554-161.03% http://www.marketwatch.com/ Market indicator favored by Buffett flashes red The last 2 times this happened, the market tumbled sharply. Is the Oracle right this time? The economy and the market From Economic Policy Journal: While much focus was put on the curious improvement in unemployment data in early October, which resulted in speculation that the BLS may have manipulated the data for the benefit of the President and his re-election campaign, perhaps more focus should have centered on an even more curious data point released on October 26, 2012, the Gross Domestic Product: Third Quarter 2012 (advance estimate). Real gross [...] From The Project to Restore America: The U.S. government announced last week that gross domestic product grew in the third quarter at an annualized rate of about 2 percent. That’s hardly vigorous growth, but considering the previous quarter’s annualized rate of 1.3 percent, the news was received with optimism. But optimism is unwarranted. As the U.S. Commerce Department’s Bureau of Economic Analysis explained: “The increase in real GDP in the third quarter [...] The average GDP growth for the first three quarters of this year is 1.77 percent, according to data released by the the Bureau of Economic Analysis this morning. That is less than half of what the White House predicted GDP growth would be this year, and less than a third of what the Obama administration projected when it first took office. Here’s a chart from the Republican-side of the Senate Budget [...] Electric bills have skyrocketed in the last five years, a sharp reversal from a quarter-century when Americans enjoyed stable power bills even as they used more electricity. Households paid a record $1,419 on average for electricity in 2010, the fifth consecutive yearly increase above the inflation rate, a USA TODAY analysis of government data found. The jump has added about $300 a year to what households pay for electricity. That’s the [...] Bloomberg
The U.S. economy expanded at a slower pace in the second quarter as a softening job market prompted Americans to curb spending. Gross domestic product, the value of all goods and services produced, rose at a 1.5 percent annual rate after a revised 2 percent gain in the prior quarter, Commerce Department figures showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a 1.4 percent increase. Household purchases, [...] According to the National Bureau of Economic Analysis, the U.S. economic recovery began in June 2009, which means it has been growing for a solid 36 months.
Yesterday, we learned that the June ISM report collapesd to 49.7 from 53.5 in May. Economists were looking for a reading of 52.0. A reading below 50 signals contraction. So, are we heading for a recession? Deutsche Bank’s Jim Reid notes that the duration of the average recovery usually [...] From the BEA’s state by state GDP breakdown for 2011. The dark blue states (highest quintile) are the 10 fastest growing states, the light blue the next 10, and so on.
Bureau of Economic Analysis
(Excerpt) Read more at businessinsider.com … From Madeline Schnapp, Director of Macroeconomic Research at TrimTabs Stimulus Tactic of Increasing Government Debt to Increase GDP Broken and Unsustainable. How Long before Massive Government Debt Buildup Triggers Another Financial Shock? Sometimes a picture is worth a thousand words. A recent post on the popular ZeroHedge financial blog compared the annualized growth in federal debt to the annualized growth in GDP in Q1 2012. ZeroHedge reported that while U.S. government debt rose [...] Low interest rates put cash in Americans’ pockets A historic drop in interest rates is helping U.S. households save more than $3,000 a year on average, allowing consumers to spend more even as their earnings fall, a USA TODAY analysis finds. Americans spent 5.8% of their after-tax income paying interest on mortgages, credit cards, car loans and other debt, according to the latest data from the Bureau of Economic [...] by Joshua Brown Psst…wanna learn something today? The Institute for Economics and Peace is out with a monumental piece of research on how wars affect the US economy… Using data from the Bureau of Economic Analysis, figure one shows the composition of U.S. GDP in consumption, investment, government spending and net exports and imports in per-capita terms. It can be seen the war years of 1941 to 1945 saw one of the most significant short term [...] (USA Today) Electric bills have skyrocketed in the last five years, a sharp reversal from a quarter-century when Americans enjoyed stable power bills even as they used more electricity. Households paid a record $1,419 on average for electricity in 2010, the fifth consecutive yearly increase above the inflation rate, a USA TODAY analysis of government data found. The jump has added about $300 a year to what households pay for electricity. [...] By James Pethokoukis The core argument of the Occupy movement and its Obamacrat friends is this: The rich stole all the money. That explains why over the past four decades, the income of the broad American middle class supposedly has stagnated even as the economy expanded. Why? Did you forget already? The rich stole all the money. And now it’s time to take it back. And here are [...] #100 A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent. #99 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office. #98 Since Barack Obama was sworn in, the share of the [...] Doug Short, Advisor Perspectives James Ross, the University Architect at UNC Wilmington and an avid student of the economy, called my attention to Martin Wolfe’s recent essay at the Financial Times explaining that we’re not at risk of a double-dip recession because the one that began in late 2007 hasn’t ended. Of course, the National Bureau of Economic Analysis (NBER) declared June 2009 as the end date for the [...] By Galina Hale and Bart Hobijn, Frbsf.org The U.S. Content of “Made in China” Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures in 2010, of which less than half reflected the actual costs of Chinese imports. The rest went to U.S. businesses and workers transporting, selling, and marketing goods carrying the “Made in China” label. Although the fraction is higher when [...] In his State of the Union address on Jan. 25, 2011, President Barack Obama suggested that the economy is in recovery mode. “We are poised for progress,” the president told a joint session of Congress. “Two years after the worst recession most of us have ever known, the stock market has come roaring back. Corporate profits are up. The economy is growing again.” We decided to see if corporate [...] Marginal, average yearly, top-end tax rates in America, by decade: 1950s: 90.54% 1960s: 80.33% 1970s: 70.18% 1980s: 48.45% 1990s: 36.72% 2000s 36.23% 2010s 35.00% Real, Per Capita GDP Growth in America, by decade: 1950s: 2.76% 1960s: 3.01% 1970s: 1.68% 1980s: 1.56% 1990s: 1.57% 2000s: 0.35% 2010s: 0.60% Source: IRS, Bureau of Economic Analysis (www.bea.gov) +++ Okay, for anyone who has studied basic macro-econ omics, there’s a well documented phenomenon known as the “marginal propensity to save versus the marginal propensity to consume”. This bit of economic theory [...] by Lance Roberts of Streettalk Advisors The Decline Of The American Saver And The Economy In the most recent release of the Personal Income and Disposition report by the Bureau of Economic Analysis the headline numbers were seemingly very good with personal consumption expenditures up 0.7% and personal incomes rising 0.3%. Unfortunately, that is about where all the good news ended. We have been discussing as of late [...] More from USA Today: Federal salaries have grown robustly in recent years, according to a USA TODAY analysis of Office of Personnel Management data. Key findings: Government-wide raises. Top-paid staff have increased in every department and agency. The Defense Department had nine civilians earning $170,000 or more in 2005, 214 when Obama took office and 994 in June. by zh The numbers are stunning: those earning over $150,000 in the past five years have grown from 7,420 to 82,034, a 1,006% increase. More shockingly, those earning over $180,000 has surged from just 805 in 2005, to 16,912 in 2010: a 2,001% increase. And it is on the background of this that Congress is planning on giving 2.1 million federal workers another 1.4% across the [...] by Jim Quinn of the Burning Platform Between 1929 and 1932, the market fell 89% from its high. The Keynesian storyline is that Herbert Hoover’s administration did nothing to try and revive the economy. It took Franklin Delano Roosevelt and his New Deal Keynesian policies to save the country. It’s a nice story, but completely false. Between 1929 and 1933, when Roosevelt came to power, the [...] by Vics Total Employed (1)………………139,919,000 Average Annual Compensation (wages & benefits combined): Total Annual Cost of Compensation for: Average Cost Per Worker to Support Government Employees….$14,161 (1) United States Department of Labor Bureau of Labor Statistics let’s cut US gov-worker pay in half or by more than half. Federal Workers PAID DOUBLE that of Private Employees At a time when pay and benefits have stagnated, federal employees average compensation has grown to more than double what private sector workers earn, a USA TODAY analysis finds. Federal workers have been awarded bigger average [...] www.usatoday.com/money… When NJ governor Christi met with teachers to discuss their pay freeze, one woman complained that based on her education and experience, she was greatly underpaid. He told her perhaps she should do something else where her talents would be properly rewarded. I doubt that she took him up on it. I don’t believe she’d be able to duplicate her pay in the private [...] |
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