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NOYB
 
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Default 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


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jps
 
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Default OT--Consumer Index Gains Two to 116.1/Investor Index Moves Up to 139.4

In article .net,
says...

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

An Economy Driven By Debt

Don't Confuse the Jobs Hype with the Facts

By PAUL CRAIG ROBERTS served as Assistant Secretary of the Treasury in
the Reagan administration.


The November payrolls job report was announced Friday with the usual
misleading hype.

Spinmeisters made the most out of the 215,000 jobs.

Looking beyond the glitter at the real facts, this is what we see.

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.

However, these gains are more than offset by the job cuts recently
announced by General Motors and Ford.

Despite the gain in jobs, total hours worked declined as the average
workweek fell to 33.7 hours.

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.

Consumers have kept growth alive by refinancing their home mortgages
and spending the equity in their houses.

Their indebtedness has risen.

Debt-fueled growth is qualitatively different from economic growth
that results from an increase in high value-added jobs.

Economists who look at the 3+ percent economic growth rate and
conclude that things are fine are fooling themselves and the public.

When the real estate boom ends, what will be the source of new
spending power?
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John H.
 
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Default 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.
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NOYB
 
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Default 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%.



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NOYB
 
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Default 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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