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#1
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OT--Consumer Index Gains Two to 116.1/Investor Index Moves Up to 139.4
Sunday December 04, 2005--The Rasmussen Consumer Index gained two points on Sunday to 116.1. That's the highest reading since August 7. In fact, with the exception of two days in early August, it's the highest level of consumer confidence measured in nine months. For the first time since August 7, the number of Americans who say the economy is getting better reached 30%. That figure had fallen as low as 17% in September and October. The Index, which measures the economic confidence of American consumers, has shown increasing confidence since Labor Day. It is up ten points from a month ago and twenty-one points from three months ago. Currently, this Index is within five points of its 2005 high-water mark and twenty-two points above the lowest level of the year. http://www.rasmussenreports.com/daily.htm |
#3
posted to rec.boats
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OT--Consumer Index Gains Two to 116.1/Investor Index Moves Up to 139.4
On Mon, 5 Dec 2005 01:12:43 -0800, jps wrote:
Proof that *any* news can be turned into *bad* news if a liberal tries hard enough!! 21,000 of those jobs were government jobs supported by taxpayers. There were only 194,000 new jobs in the private sector. Of those new jobs, 37,000 are in construction and only 11,000 are in manufacturing. The bulk of the new jobs--144,000--are in domestic services. Wholesale and retail trade account for 20,000. Food services and drinking places (waitresses and bar tenders) account for 38,000. Health care and social assistance account for 27,000. Professional and business services account for 29,000. Financial activities gained 13,000 jobs. Transportation and warehousing gained 8,000 jobs. Very few of these jobs result in tradable services that can be exported or help to close the growing gap in the US balance of trade. The 11,000 new factory jobs and the 15,000 of the previous month are a relief from the usual loss. Way to go, jps. You found the *bad news* story! Yippee. Yay, Mickey Mouse! You get the award! -- John H MERRY CHRISTMAS! Wishing you peace, fellowship, and good humor as we celebrate the birth of our Lord, Jesus Christ on the Christmas Holy Day. |
#4
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OT--Consumer Index Gains Two to 116.1/Investor Index Moves Up to 139.4
"jps" wrote in message ... Despite the gain in jobs, total hours worked declined as the average workweek fell to 33.7 hours. So? I work 32 hours/week. So does one of my assistants, my hygienist, and my receptionist. We could work Fridays, but I choose not to. The decline in the labor force participation rate, a consequence of the shrinkage in well-paying jobs, masks a higher rate of unemployment than the reported 5 percent. The ratio of employment to population fell again in November. Average hourly earnings (up 3.2 percent over the last year) are not keeping up with the consumer price index (up 4.3 percent). Consequently, real incomes are falling. This is not the picture of a healthy economy in which growth in high productivity, high value-added jobs fuel the growth in consumer demand and provide savings to finance Washington's red ink. What we are looking at is an economy that is coming unglued from the loss of jobs that provide ladders of upward mobility and from massive trade and budget deficits that are resulting in unsustainable growth in indebtedness to foreigners. The consumer price index measures inflation at 4.3 percent over the past year. Many people, experiencing household budgets severely impacted by fuel prices and grocery bills, find this figure unrealistically low. PNC Financial Services has a Christmas price index consisting of the gifts in the song, "The 12 Days of Christmas." The index reports that the cost of the collection of gifts has risen 6 percent since last Christmas. Some of the gifts have risen substantially in price. Gold rings are up 27.5 percent, and pear trees are up 15.4 percent. The cost of labor (drummers drumming, maids-a-milking) has remained the same. Populations are hard pressed when the prices of goods rise relative to the price of labor, because this makes it impossible for the population to maintain its standard of living. The US economy has been kept alive by low interest rates, which fueled a real estate boom. True. Consumers have kept growth alive by refinancing their home mortgages and spending the equity in their houses. True. Their indebtedness has risen. Their net worth has risen too. Debt-fueled growth is qualitatively different from economic growth that results from an increase in high value-added jobs. Not true. Spending, whether via cash or debt, leads to more jobs to service the spending habits of the consumer. Economists who look at the 3+ percent economic growth rate and conclude that things are fine are fooling themselves and the public. The growth rate is better than 4%. Where is he getting that number from? When the real estate boom ends, what will be the source of new spending power? The stock market. As the housing market has cooled over the last two months, the market has risen nearly 8%. |
#5
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OT--Consumer Index Gains Two to 116.1/Investor Index Moves Up to 139.4
"John H." wrote in message ... Yippee. Yay, Mickey Mouse! You get the award! The NY Times award. |
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