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Breaking News Home | All | Religion | Society | Tech | Choice | FF | SA News
FRONT PAGE  |  2/22/2017
TUESDAY, FEB 4, 2014  |  9 comments
Stocks unravel after factory report; Dow sinks 300-plus points
U.S. stocks were hammered on Monday, with benchmark indexes falling through key support levels after a gauge of factory activity disappointed, heightening concern about the economy before Friday's monthly jobs report.

Stocks had wavered ahead of the report that had U.S. manufacturing expanding at a substantially slower pace in January, driving overall factory activity to an eight-month low.

"A report like this scares people ahead of the payroll number on Friday," said Andres Garcia-Amaya, global market strategist at J.P. Morgan Funds, who added the report's soft new orders component was of particular concern. ...


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www.cnbc.com

Response to economic crisis?
  START  
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· Page 1 ·  Found: 9 user comment(s)
News Item2/6/14 4:57 AM
Strat  Find all comments by Strat
Since politically Americans can only count to two it makes sense that Obama could run up the deficits he has and have people say he is no better or worse than any of the others.....math is a cruel science with no pity for fools.
9

News Item2/4/14 8:09 PM
Barry from KY | Northern Ky  Find all comments by Barry from KY
I know Mike, I wasn't trying to bait you at all bro, I promise. I posted this with tongue in cheek. I do feel President Obama has done some bad things while in office, but I'm not convinced he's any worse than any others. We just don't get to vote for the creme of the crop any more.
Plus, I'm sure I could go to fox news or the new American or the wall street journal blah blah blah and get 30 different views from rosy to apocalyptic. I'm really sick of the entire political scene in the U.S. Sorry for the rant, Mike, not directed at you. I trust in God and He is bigger than any of this. It's all in his very capable hands!!!
P.S. anyone that knows anything knows that Hillary will be the next President!!!
8

News Item2/4/14 7:51 PM
Mike | New York  Find all comments by Mike
Barry from Ky wrote:
---
"When I first walked through the door," said President Obama in 2010, "the deficit stood at $1.3 trillion, with projected deficits of $8 trillion over the next decade."
And on it went. For a while it seemed like no one ever just talked about the deficit. It was always the trillion-dollar deficit.
Except that past year, it shrank dramatically. Jared Bernstein, a senior fellow at the Center on Budget and Policy Priorities and a former Obama administration economist, explains that reality defies the rhetoric.
"The budget deficit has gone from 10 percent of GDP in 2009 — it was quite high — to about 4 percent of GDP in 2013," Bernstein says.
Like most economists, he prefers to look at the deficit as it relates to the overall size of the U.S. economy.
"That decline is the largest four-year decline in budget deficits since 1950," he says. "So they've fallen a ton."
It's a game this former Obama economist is playing play, Barry. The GDP *includes govt spending,* and all things good or bad as long as money exchanges hands. War, natural disasters, crime fighting, etc all increase the GDP. If the budget deficit decreases relative to the GDP, it means little or nothing in terms of actual economic or social improvement.
7

News Item2/4/14 7:07 PM
Barry from Ky | Northern Ky  Find all comments by Barry from Ky
"We're going to have trillion-dollar deficits for years to come," said former congressman and presidential candidate Ron Paul.

"When I first walked through the door," said President Obama in 2010, "the deficit stood at $1.3 trillion, with projected deficits of $8 trillion over the next decade."

And on it went. For a while it seemed like no one ever just talked about the deficit. It was always the trillion-dollar deficit.

Except that past year, it shrank dramatically. Jared Bernstein, a senior fellow at the Center on Budget and Policy Priorities and a former Obama administration economist, explains that reality defies the rhetoric.

"The budget deficit has gone from 10 percent of GDP in 2009 — it was quite high — to about 4 percent of GDP in 2013," Bernstein says.

Like most economists, he prefers to look at the deficit as it relates to the overall size of the U.S. economy.

"That decline is the largest four-year decline in budget deficits since 1950," he says. "So they've fallen a ton."

6

News Item2/4/14 6:31 PM
Unprofitable Servant | Georgia  Find all comments by Unprofitable Servant
Jim forgot to say that billions added to the deficit since President Obama took office, all the problems being experienced with Obamacare (CBO just said costing 2.5 million jobs to add to the list), the over 100% rise in the cost of a gallon of gasoline (after all when gas when up under Bush it was to line his pockets) the shortage of corn, the killing of federal agents with guns from fast and furious,the failure of Solyndra to the tune of 1/2 billion dollars plus all other "green" energy boondoggles etc., etc. are all former President Bush's fault too. President Obama, nor his party, have ANY culpability, it is those rascally old republicans. Btw, Bernanke no longer heads the Fed. In fact those scientist that got stuck in Antarctica, also Bush's fault. If it wasn't for Bush, Arabs would love us and no terrorism would exist anywhere in the world. Obama would be ushering in another Pax Romana. Hail to the Chief!!
5

News Item2/4/14 4:45 PM
Mike | New York  Find all comments by Mike
Jim Lincoln wrote:
what goes up must come down. it is really worrisome if it keeps on doing that. You know, like the interest rates under babyface bush.
Bush.

Ps The stocks went up primarily because of gov "stimulus" spending, not from economic recovery. If the spending slows, the artificial recovery slows with it, since there is little of substance that caused to market increase in the first place. The recovery is an illusion

Spending our way to prosperity?

4

News Item2/4/14 2:50 PM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
No, SJ, The Fed. is a very good idea, in fact what make the really Big (Great) Depression, Big is that the Fed., really in its infancy, shrunk the money supply instead of increasing it (lowering interest rates, by the way. ) But why did Ben have to lower interest rates? Because of Bush Jr.'s military adventures. Banana War Bush, he probably thought the Iraqi War, was a big win, since he protected the oil interests of family and friends. For the nominal Christians inside Iraq and for most Americans, Addle-headed leader should have been impeached, Bush: Terrible President, Also Not a Smart Man. The Clinton/Bush combo was a disaster for this country.
3

News Item2/4/14 1:41 PM
SJ  Find all comments by SJ
Jim Lincoln wrote:
what goes up must come down. it is really worrisome if it keeps on doing that. You know, like the interest rates under babyface bush.
Blame the Fed.

Then again, W Bush did appoint Ben Bernanke so you may have a point there.

2

News Item2/4/14 1:15 PM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
what goes up must come down. it is really worrisome if it keeps on doing that. You know, like the interest rates under babyface bush.
1
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