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September Jobs Report: U.S. Creates 148,000 Jobs As Unemployment Rate Ticks Down To 7.2 Pecent

September Jobs Report: U.S. Creates 148,000 Jobs As Unemployment Rate Ticks Down To 7.2 Pecent | EconomyBusters | Scoop.it
The U.S. economy added 148,000 jobs in September, as the unemployment rate ticked down to 7.2 percent, the Bureau of Labor Statistic reported Tuesday. (JUST IN: U.S.
Dirty Ray and the Boys's insight:

Surprisingly, the government shut down did not impact unemployment a great amount.  There was no rise in unemployment, and many jobs were still created.  The decline from federal workers being laid off during the shut down is predicted to be just temporary, and we will be right back on track in the upcoming months.

 - Joshua

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The Morning After America's Debt Binge - Reason

The Morning After America's Debt Binge - Reason | EconomyBusters | Scoop.it
Reason
The Morning After America's Debt Binge
Reason
The researchers also reported that a 10 percent increase in the debt-to-GDP ratio is associated with a 0.2 percent slowdown in annual real per capita GDP growth.

Via Macro Challenge group #107483
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Macro Challenge group #107483's curator insight, October 21, 2013 10:06 PM

Problems with the rising debt ceiling despite the necessity for the debt ceiling to rise to prevent default.  

Kayla

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Why Consumer Confidence Will Remain Weak for Months to Come - Business 2 Community

Why Consumer Confidence Will Remain Weak for Months to Come - Business 2 Community | EconomyBusters | Scoop.it

Via Thomas Faltin
Dirty Ray and the Boys's insight:

Although the government shutdown seems to have lowered consumer confidence and trust in the stability in the U.S. economy, consumer confidence and spending levels were already very low before the two-week shutdown.  This temporary deal that the government finally agreed upon  will only make consumer confidence weak and prevent  any economic recovery, since consumers are at the core of economic improvement.  Consumers are aware that Congress will be faced with the same issue in only a matter of months. 

 

*Daniella Feijoo*

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Consumer Confidence Falling; Here’s What to Expect Next - Business 2 Community

Consumer Confidence Falling; Here’s What to Expect Next - Business 2 Community | EconomyBusters | Scoop.it
Consumer Confidence Falling; Here’s What to Expect Next http://t.co/AX6jtZhAkd

Via Thomas Faltin
Dirty Ray and the Boys's insight:

Consumer confidence, one of the key indicators we used in our Macro Challenge powerpoint and script, conveys that most public companies are struggling because of lower consumer, discretionary spending.  This in turn results in a declining GDP and a decreased demand for durable goods.  This data suggest that the U.S. economy may still be recovering from the financial crisis.   The expectations of Americans plunged to its lowest level in October since November of 2011.  This is startling because the economy is supposed to be recovering at a quicker pace.  The decline in GDP could possibly be from the recent government shutdown.

 

*Daniella Feijoo*

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Dr. Ed's Blog: US Monetary & Fiscal Policies

Dr. Ed's Blog: US Monetary & Fiscal Policies | EconomyBusters | Scoop.it

Under Fed Chairman Ben Bernanke, the Fed has been the great enabler of Washington’s fiscal excesses of the past few years. The Fed’s quantitative easing blurs the line between fiscal and monetary policies. The Fed...


Via FifthEstate.co
Dirty Ray and the Boys's insight:

Logan Reckert

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The Golden Truth: Brain Damage - And, Uh, QE Is Working (I'll Explain)

The Golden Truth: Brain Damage - And, Uh, QE Is Working (I'll Explain) | EconomyBusters | Scoop.it
The Fed has lost control of the markets and Wall Street economists, media analysts and most blog writers suffer from tragic and terminal mental disabilities.

 

First off, I'd like to say that I'm really quite amazed at the degree of "surprise" over the FOMC policy statement yesterday.  Anyone who understands the nature of QE and why it's being done knew back in May when Helicopter Ben first mumbled the word "taper" that the Fed wouldn't reduce QE.  Given the response reflected by the media and the fact that 100% of Wall Street's brain trust expected a $10-15 billion "taper," I'd say that every single Wall Street economist is brain damaged.  What he hell are they getting paid for when they get their forecasts so egregiously wrong every god damn week?  Seriously. And now I'm seeing articles which are reporting that now the big debate is the timing of an eventual taper.  Einstein is credited with attributing insanity to the act of making the same mistake repetitively.  I guess Wall Street, and the media who regurgitates Wall Street's vomit, must not only be brain damaged, but they all must be insane as well.  Analyze this you brutes:   Ben Bernanke said - almost verbatim - that the Fed will reduce its stimulus policy when the unemployment is below 6.5%.  He specifically said that  "we are tied to the data, we don't have a fixed calendar schedule" and that a low interest rate policy will be in effect until unemployment goes below 6.5%.  The Fed is tied to the data not the calendar.  Bold, italics, underlined.  If you know how to use google you can find the exactquote from Bernanke's mouth.  If Wall Street's overpaid finest - and paid with taxpayer largesse, I might add - wants to figure out when the Fed will "taper," then they should spend their time figuring out what it will take to get unemployment below 6.5%.  Here's my call:  we won't see that number in our lifetime. ...


Via Hal
Dirty Ray and the Boys's insight:

Jesus Guzman

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Hal's curator insight, September 19, 2013 3:46 PM

click through for the rest of the post.

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nonfarm payroll report unemployment average earnings 22 October 2013 | ForexLive

What is expected from the nonfarm payroll report, including unemployment, average earnings on 22 October 2013 (NFP expectations – What about the ‘behind the headline’ results?: Expectations for the Nonfarm payroll headlin...
Dirty Ray and the Boys's insight:

We took nonfarm payroll reports into consideration when starting the Macro Challenge, but it seems like we have to take into consideration unemployment/ employment participation rates as well in order to view a well-rounded picture of the economy. Since the predictions seem to be fairly consistent, this indicator should be fairly reliable and should be something to definatly keep in mind when analyzing the economy. 

 

~Danielle Schmidt

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Unemployment: it is a lack of jobs, not laziness, that prevents people working - The Guardian

Unemployment: it is a lack of jobs, not laziness, that prevents people working - The Guardian | EconomyBusters | Scoop.it
The Guardian Unemployment: it is a lack of jobs, not laziness, that prevents people working The Guardian Unemployed, overworked and/or in debt, it hurts us all and Labour's threat to be tougher than the Tories risks rubbing salt in the wounds...
Dirty Ray and the Boys's insight:

In decades past, there were plenty of jobs around that everyone could be selective as to what job they wanted.  But now, with the population rising and the amount of jobs decreasing, unemployment is rising.

- Joshua

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Why the Debt Ceiling is a Distraction

Why the Debt Ceiling is a Distraction | EconomyBusters | Scoop.it

The inability of the media and politicians to focus on the real issues never ceases to amaze.

The real crisis is not the “debt ceiling crisis.” The government shutdown is merely a result of the Republicans using the debt limit ceiling to attempt to block the implementation of Obamacare. If the shutdown persists and becomes a problem, Obama has enough power under the various “war on terror” rulings to declare a national emergency and raise the debt ceiling by executive order. An executive branch that has the power to inter citizens indefinitely and to murder them without due process of law, can certainly set aside a ceiling on debt that jeopardizes the government.

The real crisis is that jobs offshoring by US corporations has permanently lowered US tax revenues by shifting what would have been consumer income, US GDP, and tax base to China, India, and other countries where wages and the cost of living are relatively low.  On the spending side, twelve years of wars have inflated annual expenditures.  The consequence is a wide deficit gap between revenues and expenditures.


Via Gary Yarus, Macro Challenge group #107483
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Zach Brown's curator insight, October 22, 2013 4:58 PM

-Zach Brown

Macro Challenge group #107483's curator insight, October 22, 2013 7:47 PM

The US should be more worried about the power of the president and not so much the debt ceiling.

Evan Butler

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The Fed Versus the People

The Fed Versus the People | EconomyBusters | Scoop.it
The Fed thinks that people are saving too much but very people actually have enough savings, while many have none at all. (Fed wants people to save less, but 3/4 of Americans don't have enough liquid assets.

Via Bachelor Economics
Dirty Ray and the Boys's insight:

Daniella Feijoo

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Bachelor Economics's curator insight, October 22, 2013 9:25 PM

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Shutdown Threatens Thousands Of Seasonal Retail Jobs, $602B Holiday Season

Shutdown Threatens Thousands Of Seasonal Retail Jobs, $602B Holiday Season | EconomyBusters | Scoop.it
Only the collapse of Lehman Brothers in September 2008 has done more damage to consumer confidence in such a short period of time, NFR tells Washington.
Dirty Ray and the Boys's insight:

Retail stores make 20% of their annual sales during the holiday seasons and the government shutdown is decreasing consumer confidence drastically.  Also, production and distribution have become extremely difficult for stores because of the slow down of government agencies that regulate sales such as the Consumer Product Safety Commission (CPSC) and the Environmental Protection Agency (EPA).

 

*Daniella Feijoo*

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Estimate: The Shutdown Caused $24 Billion in Damage to the Economy - Center for Effective Government

Estimate: The Shutdown Caused $24 Billion in Damage to the Economy - Center for Effective Government | EconomyBusters | Scoop.it

Estimate: The Shutdown Caused $24 Billion in Damage to the Economy Center for Effective Government In total, the fiscal path the U.S.


Via Gunay Latifova
Dirty Ray and the Boys's insight:

The two-and-a-half week government shutdown essentially has harmed the U.S. economy because of major costs such as revenue from national parks, money lost in travel spending, the cost of governement services being temporarily closed, and $217 million per day in lost federal and contractor wages in the Washington D.C. alone.  But that isn't even the worst.  The estimated annual growth rate for the U.S. economy was supposed to be 3% in September but has now dropped to 2%.  Fiscal crises have also hurt the economy over the past decade and an estimated $450 billion in lost economic output and 2.1 million jobs have resulted in bad decision-making and a cutback in discretionary spending.

 

*Daniella Feijoo*

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Report says shale gas boom to cut certain emissions in U.S., boost GDP

Report says shale gas boom to cut certain emissions in U.S., boost GDP | EconomyBusters | Scoop.it
The rapid development of shale natural gas in the U.S. will not significantly reduce the country's carbon footprint because cheap gas will supplant low-carbon energy sources, according to a report from Stanford's Energy Modeling Forum.
Dirty Ray and the Boys's insight:

With a boom in shale gas, it will allow us to use a different emission and cut the old ones. This boom will also boost GDP, which would help the economy.

 

Logan Reckert

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Shutdown vs. Default: The Relative Impact - New York Times (blog)

Shutdown vs. Default: The Relative Impact - New York Times (blog) | EconomyBusters | Scoop.it
Town Hall
Shutdown vs. Default: The Relative Impact
New York Times (blog)
On Friday the House passed a bill that would continue funding the government while also defunding the Affordable Care Act.

Via Karlo Remigio
Dirty Ray and the Boys's insight:

Jesus Guzman

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Karlo Remigio's curator insight, September 24, 2013 4:13 PM

This article discusses the causes for either a government shutdown or a breach in the debt ceiling. It points out the pros and cons for allowing either side to happen and cites the possible reprecussions of either occurances. From the article's suggestions, it seems like allowng a shutdown to happen on the X-date is the lesser of the two evils, for it has happened before and it only costed $1.7 billion dollars while a breach in the debt ceiling would lead to higher interest rates that could cost up to $75 billion dollars per year. This is only representative of one source, but if one were to analyze this article, it seems that the writer is very against raising the debt ceiling.

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Consumer price index captures food price changes

Consumer price index captures food price changes | EconomyBusters | Scoop.it
WE ASSURE Mr Lawrence Loh Kiah Muan ("Are rising food prices justified?"; last Wednesday) that the consumer price index (CPI) does capture changes in the prices of food items in the household shopping basket.
Dirty Ray and the Boys's insight:

A rise is food price is not only unusual, as food prices typically remain fairly constant, but could also be detrimental to Americans struggling to get by as it is. CPI captures this because of it's basket of American goods. Although a general rise of 2.4% doesn't seem like much, it could mean a ton of lost money when every cent counts.

 

~Danielle Schmidt

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