Obamaconomy!!!

[top gun]

Bank of America with several other banks paid back... and now Citigroup and Wells Fargo ready to pay back all taxpayer bailout money. GM has said it's ready to start paying back it's bailout money.

I know this news just kills the "America must fail to hurt Obama crowd"... but like I've said from the beginning watch and see how different things are in a good way come the last quarter of 2010!

Citi positioned to repay TARP
09-12-2009

NEW YORK (Reuters) - Citigroup (Citigroup Inc) plans to pay back TARP by raising money in an equity offering that could be announced as early as this Thursday, cable television network CNBC reported on Wednesday, citing sources.

Earlier, the bank's chairman, Dick Parsons, told CNBC that Citigroup was in talks with regulators about repaying its $45 billion (27.6 billion pounds) bailout from the U.S. Treasury's Troubled Asset Relief Program.

"We believe Citigroup is in a position to repay the TARP money, but there is an active discussion we have to have with regulators ..." said Parsons, who was at New York Governor David Paterson's speech on the economy on Wednesday at the Museum of American Finance.

Citi spokesman Jon Diat declined to comment.

The reports come two days after Reuters reported on Monday that Citigroup and the U.S. government disagreed over how much the bank should raise to repay taxpayers, according to people briefed on the matter. The people said talks could take weeks or months.

Bank of America Corp (BK of America CP) sold $19.3 billion of shares last week and today announced it had completed repaying its $45 billion of government money borrowed through TARP. In June, major banks including Goldman Sachs Group (Goldman Sachs GRP), JPMorgan Chase (JP Morgan Chase CO) and Morgan Stanley (Morgan Stanley) paid back their bailouts.

Exiting TARP would allow Citigroup to get out from under the thumb of the U.S. government's pay czar, who has the authority to rule on how the bank pays its employees.

Citi shares closed down 5 cents at $3.86 on the New York Stock Exchange.

(Reporting by Steve Eder and Dan Wilchins; Editing by Leslie Gevirtz, Gerald E. McCormick and Steve Orlofsky)

 

[asur]

From a dictionary:

"shovel-ready
adj. Relating to a construction site or project that can be used or started right away.
Also: shovel ready."
http://www.wordspy.com/words/shovel-ready.asp

Exactly right Dr. Who!

It's telling how some on this forum wanted
to argue the meaning and imply it meant years down the road!

Reminds me of Bill Clinton and his definition of is!

But either way, there are no shovel-ready jobs now or down the road!

It was just an Obama lie and what's really neat is that
outside people can come read this post and realize
how stupid liberals look! They see through the bickering
and draw their own conclusion.

That's partly why I'm here, to enlighten!

 

[Mr. Shaman]

"The Commerce Department says construction of new homes and apartments rose 8.9 percent in November to a seasonally adjusted annual rate of 574,000 units. The gain represented strength in all areas of the country although the increase was slightly lower than economists had expected.

Applications for new building permits were also up, rising 6 percent to an annual rate of 584,000 units, a stronger showing than economists predicted."

"Crowe added that the tight credit market has also made it difficult for builders to borrow money to start building projects.

"Builders are ready to begin restocking their inventories to prepare for the selling season, but they can't get production credit from the banks," Crowe said. "Banks are effectively making carte blanche decisions without recognizing projects that are in decent markets with viable futures."

 

[asur]

Dec 17, 2009

The number of Americans filing for initial unemployment insurance rose last week, the government said Thursday. Analysts had expected a decline.

There were 480,000 initial job claims filed in the week ended Dec. 12, up 7,000 from the previous week's revised 473,000, the Labor Department said.


This is more proof we are in deep trouble in the US.
After all the spending and politics,
there is no recovery, nada, zero, zilch!

It's called CHANGE and Obama is a failure as president!

 

[ASPCA4EVER]

Dec 17, 2009

The number of Americans filing for initial unemployment insurance rose last week, the government said Thursday. Analysts had expected a decline.

I just hate it when good ole mother nature interrupts the work force and makes those seasonal jobs to hard to do...dog gone it! "It's not nice to fool with mother nature"...LMAO

 

[Gipper]

Nearly half of Detroit's workers are unemployed Despite an official unemployment rate of 27 percent, the real jobs problem in Detroit may be affecting half of the working-age population, thousands of whom either can't find a job or are working fewer hours than they want. Using a broader definition of unemployment, as much as 45 percent of the labor force has been affected by the downturn.http://www.detnews.com/article/2009...arly-half-of-Detroit-s-workers-are-unemployed

"closer to 50 percent." And every social ill known to man exists there and of course, liberals control everything and have for five decades.

Maybe before too long, all the nation will look like Detroit. Well sure if the liberals/progressives get total control. God help us.

 

[ASPCA4EVER]

"closer to 50 percent." And every social ill known to man exists there and of course, liberals control everything and have for five decades.

Maybe before too long, all the nation will look like Detroit. Well sure if the liberals/progressives get total control. God help us.

Well, not according to the reports/maps/stats...this part of America seems to be sustaining/holding our own. I'm in the middle of America, fat cattle ranchers/beef packers/3 different dog food production places/crude oil/gas plants and one nuclear plant 45 miles away! Not exactly 'hog heaven' but the unemployment seems negligible around here! Of course new house construction has dropped off but that was expected...it happens every year during our frigid winter months!

 

[asur]

I heard today on CNN that Holiday sales for this weekend (1 week beore Christmas ) were down big!

Down anywhere from 40 - 80% on average.

How's that Obama hope and change working out for you!

Now you can expect more jobs losses, just based on this fact alone!

 

[top gun]

I heard today on CNN that Holiday sales for this weekend (1 week beore Christmas ) were down big!

Down anywhere from 40 - 80% on average.

How's that Obama hope and change working out for you!

Now you can expect more jobs losses, just based on this fact alone!

Oh Mr. Grinch don't you have some whos there in Whoville you need to be a scaring? Stop trying to BS everybody in here.


“good but not great” Christmas, but economist tip strong sales in 2010
December 4, 2009

Westpac says it expects the economic recovery to continue into the next year, with retail output expected to increase over the next 12 months.

Brookes said yesterday Christmas items such as wrapping paper, trees and hampers are still selling in line with expectations, but that "Christmas will be a good Christmas without being a great Christmas".

Retail analyst Rob Lake says Christmas sales are set to climb. "Retailers will be looking for a 6% increase on last year, and that's really just par.

"Key barometers of discretionary spending are already picking up strongly. This is consistent with the typical consumer recovery which sees a partial rebound led by discretionary spending, especially delayed big ticket purchases. The second stage comes later and is driven by a return to employment growth lifting incomes and a broader recovery in spending. Overall, we expect growth in real consumer spending to rise to 3% in 2010."

Hassan said retail sales growth is expected to rise from 2% during 2008 to 3.1% in 2009, with 3.6% expected in 2010.

"Other segments are expected to perform according to the broader pattern of recovering discretionary spending. Diverging trends are already apparent. Segments such as goods retail (which includes toys, CDs, DVDs, computer games, sporting equipment and cosmetics), and cafes and restaurants will outperform."

"Segments such as clothing and department stores will be more middle-of-the-road although within these and within all segments there will be clear divergences in performance at the more detailed level."

 

[asur]

More proof Obama policies harm the economy.

http://finance.yahoo.com/news/Novem...5.html?x=0&sec=topStories&pos=1&asset=&ccode=


November new home sales sink 11 percent!!!!!!!!!!!

"They don't have to act today," said David Crowe, chief economist at the National Association of Home Builders, who called the results "pretty awful."

New home sales data, released Wednesday, are a better indicator of future real estate activity than sales of previously occupied homes

By the way, the real GDP was negative in the last quarter under Obama and not 3.5% as the media bragged about.

Jobs aren't coming back under Obama, it's pretty awful and it's called CHANGE!

 

[Pidgey]

The Z.1 looks pretty awful, especially considering what's coming down the pike. The biggest danger signal showing at the moment is the "inverted head and shoulders" pattern in the TYX. If that sucker doesn't break downward pretty hard, then it'll end up going to near 7% in the not-too-distant future. That would be... in a word, "catastrophic" for real estate values. There's... uhh... no foreseeable reason why it would head downward, either, given that the rest of the world is funding out debt and getting tired of it.

 

[asur]

There is no recovery !
It's just a lie that Obama and his boys are spreading.
They are dishonest!

A pretty picture is worth more than words.
The graph below indicates that Obama wasted US Taxpayer Dollars on the
Home Buyer Tax Credit in November 2009. There was actually a decrease
in new home sales from 2008. Obama policies are harming new home sales.

Keep in mind interest rates are going to probably increase in the future
with all the Obama spending. There is no recovery!

 

[top gun]

asur simply doesn't like to see the improvement from the Bush Recession into the Obama recovery so he just yells things aren't good and ducks & denies all the facts.


Existing Home Sales up Sharply in November
CalculatedRisk 12/22/2009

The NAR reports: Another Big Gain in Existing-Home Sales as Buyers Respond to Tax Credit

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October, and are 44.1 percent higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.
...
Total housing inventory at the end of November declined 1.3 percent to 3.52 million existing homes available for sale, which represents a 6.5-month supply at the current sales pace, down from an 7.0-month supply in October.

Sales in Nov 2009 (6.54 million SAAR) were 7.4% higher than last month, and were 44% higher than Nov 2008 (4.54 million SAAR).

Of course many of the transactions in November were due to first-time homebuyers rushing to beat the initial expiration of the tax credit (that has now been extended). This has pushed sales far above the historical normal level; based on normal turnover, existing home sales would be in the 4.5 to 5.0 million SAAR range.

 

[asur]

There is no recovery!

Just a temporary increase in distressed home sales, incentivized by taxpayer dollars.

How much does each 8K tax buyer credit cost the taxpayer?
Possibly 50K if it's as efficient(NOT) as Cash for Clunkers.

New home sales are actually down from 2008 after all this
wasted taxpayer money!

You can expect December existing home sales to decrease sharply also!


Dec 23 2009

The Market Composite Index, a measure of mortgage loan application volume decreased 10.7 percent on a seasonally adjusted basis from one week earlier. ...

The Refinance Index decreased 10.1 percent from the previous week and the seasonally adjusted Purchase Index decreased 11.6 percent from one week earlier.
...
The average contract interest rate for 30-year fixed-rate mortgages remained flat at 4.92 percent, with points increasing to 1.23 from 1.08 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.

You can expect December existing home sales to decrease sharply also!

 

[Pidgey]

asur simply doesn't like to see the improvement from the Bush Recession into the Obama recovery so he just yells things aren't good and ducks & denies all the facts.


Existing Home Sales up Sharply in November
CalculatedRisk 12/22/2009

The NAR reports: Another Big Gain in Existing-Home Sales as Buyers Respond to Tax Credit

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October, and are 44.1 percent higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.
...
Total housing inventory at the end of November declined 1.3 percent to 3.52 million existing homes available for sale, which represents a 6.5-month supply at the current sales pace, down from an 7.0-month supply in October.

Sales in Nov 2009 (6.54 million SAAR) were 7.4% higher than last month, and were 44% higher than Nov 2008 (4.54 million SAAR).

Of course many of the transactions in November were due to first-time homebuyers rushing to beat the initial expiration of the tax credit (that has now been extended). This has pushed sales far above the historical normal level; based on normal turnover, existing home sales would be in the 4.5 to 5.0 million SAAR range.

Hmm... well, then, this sure seems a bit funny:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a4.G0b6mel5A&pos=1

Watching other financial indicators, it would seem that people aren't going into more debt to buy houses as overall credit extended is still declining.