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weatherman714
tagged & banned
Joined: 11 Jun 2005
Posts: 953
Location: Maryland |
Warmest Janurary boosts Economic Growth
 Wed Mar 01, 2006 11:22 pm
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It's interesting. Just as I've screamed about for the past 4 years, guess what the greatest effect on economic growth is? The weather! It's going to be interesting to see the actual numbers in April. But let's see what the Patriotic Act cost the US because they hacked into my e-mail address back on Oct 25,2005. 5-1.6 is 3.4% growth. The US Economy is $11.7 trillion according to the IMF. Going by those numbers 3.4% is roughly $397.8 Billion. IF we divide that by 4 to reflect the quarter number we get roughly $100 Billion. That means when the USAF hijacked my e-mail address on October 25,2005 and hosed me out of my Nov 10th snow storm over MD. My cooperation with the Chinese to make it one of the coldest Mid-Nov to Mid-Dec period knocked off $100 Billion in growth out of the US GDP. That's the yearly GDP of New Zealand in one month. That's an expensive Patriot Act!
Economists said the strong gain in spending meant overall economic growth, which slowed to a 1.6 percent rate in the October-December period, was rebounding strongly to perhaps above 5 percent in the current quarter. Consumer spending accounts for two-thirds of total economic growth.
WASHINGTON - The warmest January in more than 100 years lured consumers out to the shopping malls to spend money at the fastest clip in six months, giving a strong boost to the economy as the new year began.
The nation's factories were also enjoying good times with a closely watched gauge of manufacturing activity posting a strong increase in February.
But despite the warm weather, construction spending grew far below expectations in January as home building, the economy's stand-out performer for many years, managed only a tiny increase.
Still, analysts said the various reports released Wednesday pointed to an economy that is shaking off the blows from the hurricanes and soaring energy prices dealt in the final three months of last year to grow at a solid pace in the first three months of this year.
The Commerce Department reported that personal spending surged 0.9 percent in January, the biggest advance in six months, reflecting strong demand for autos and other durable goods and for nondurable goods such as clothing.
"You can't keep a good consumer down and the American household is one great customer," said Joel Naroff, chief economist at Naroff Economic Advisors.
Personal incomes rose a solid 0.7 percent in January. That reflected solid wage growth during the month and a number of special factors, including a 4.1 percent cost-of-living increase for Social Security recipients and the start of the government's new prescription drug benefit.
Without the special factors, personal income would have risen a smaller 0.4 percent in January.
Economists said the strong gain in spending meant overall economic growth, which slowed to a 1.6 percent rate in the October-December period, was rebounding strongly to perhaps above 5 percent in the current quarter. Consumer spending accounts for two-thirds of total economic growth.
Also helping boost the economy is a resurgent manufacturing sector, which was the hardest-hit part of the economy during the 2001 recession. The Institute for Supply Management reported that its closely watched manufacturing gauge rose to a three-month high of 56.7 in February, up from 54.8 in January, as the index for new orders jumped to the highest level in 16 months.
"The economy retains ample momentum early in 2006," said Stephen Stanley, chief economist at RBS Greenwich Capital. He said the level for the manufacturing gauge was consistent with overall economic growth above 5 percent.
However, a third report showed that construction spending managed only a 0.2 percent increase in January, the weakest gain in seven months and far below the 1 percent that analysts had been expecting.
A big reason for the slowdown was a tiny 0.1 percent increase in private home building, the poorest monthly performance since an actual decline of 0.4 percent last June. It was a further indication that residential construction, which has enjoyed five boom years, is beginning to slow.
Sales of both new and existing homes fell in January despite the warm weather and economists are predicting that continued increases in mortgage rates will slow housing further in coming months.
The bigger rise in spending in January compared to incomes kept the personal savings rate in negative territory at a minus 0.7 percent. That meant Americans spent more than their after-tax incomes, which forced them to dip into prior savings or increase their borrowing.
For all of 2005, the savings rate registered a negative 0.4 percent, the first time the savings rate has been in negative territory for an entire year since the Depression years of 1932 and 1933.
Economists said this is the wrong time for the savings rate to dip into negative territory with the looming retirement of 78 million baby boomers.
Part of the reason for the dip in the rate of savings is that Americans who own homes felt more wealthy in recent years given the huge increases in home values.
However, the Federal Reserve reported last week that even with the rise in home values, net worth, the difference between assets and liabilities, grew in 2001-2004 at the slowest pace in more than a decade.
An inflation gauge closely watched by the Fed showed that prices excluding energy and food rose by 1.8 percent for the 12 months ending in January, a slight improvement from a 1.9 percent increase for the 12 months ending in December. |
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visual ray wizard
Joined: 09 Jul 2005
Posts: 439
Location: United States |
| So why did it not stay cold in January as you first
Thu Mar 02, 2006 12:13 am
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predicted? They didn't spray in the area you wanted or something?
Would you care to add eco-terrorist to your resume anytime soon?
"That means when the USAF hijacked my e-mail address on October 25,2005 and hosed me out of my Nov 10th snow storm over MD. My cooperation with the Chinese to make it one of the coldest Mid-Nov to Mid-Dec period knocked off $100 Billion in growth out of the US GDP. That's the yearly GDP of New Zealand in one month. That's an expensive Patriot Act! "
Congratulations because you helped the energy companies make lots and lots of money in the month of December. MISSION ACCOMPLISHED!
With friends like you, America needs no more enemies LOL!
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Being one with nature never felt so good! |
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linnea.bradbury
Joined: 15 Jun 2005
Posts: 20
Location: Plano, TX |
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Thu Mar 02, 2006 2:15 am
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Wait a second what happened to the train cars that were just posted? I was posting a reply, I want to know more about this, since it just disappeared, was it already known to be a hoax? What?
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"May we preserve mother earth for ancestors yet to come...we've destroyed her beauty and denied the honor the creator has given each individual...the truth lies in our hands, all my relations..." |
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linnea.bradbury
Joined: 15 Jun 2005
Posts: 20
Location: Plano, TX |
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Thu Mar 02, 2006 2:18 am
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Whhops, sorry, things are behving strangely on my end. I get default quite alot with trying to post and research on the site. My apologies! 
_________________
"May we preserve mother earth for ancestors yet to come...we've destroyed her beauty and denied the honor the creator has given each individual...the truth lies in our hands, all my relations..." |
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weatherman714
tagged & banned
Joined: 11 Jun 2005
Posts: 953
Location: Maryland |
| My Sense of Nationalism
Thu Mar 02, 2006 8:39 am
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Globalism is dead. It was the way of the mid and late 90's. Currently its dead. This administration threw the first stones at me long before I did anything to hurt the US Economy. All I did was figure out the USAF was the reason behind the drought across the Eastern US post 9-11 to aid the US Economy. This is a theory I've worked on for 4 and 1/2 years. What that article proves one thing. How vanuable the Government, Service and Agricultural Economy is to the weather. It snows people don't goto work, they don't go outside, they don't buy anything. If commerce is not being transacted then bills mount up bankrupcties increase and the economy and stock market come to a grinding hault. The $100 Billion I've calculated is averaged over a 3 month period. There's a good chance that my information caused brief economic downturn right before Christmas '05. If the growth rate was 5% in October through Mid-November, then it fell to -1.8% from Mid-November to Jan 1.
As a young person 24 y/o this president is destorying my future along with everyone else my age, a total of 100 million of us. The baby boomers kids. Here's my question. The baby boom generation has allowed a small group of people to steal trillions from the treasury. Why should my generation pick up the tab? Because your suppose to take care of your parents? Your generation has screwed us over big time. Why should we take care of you? The baby boomers voted for the same people that run around screaming " Your responsible for your actions and government can't help you" Yet you want us to pick up your Social Security tab in the coming years. You've shipped all the manufactoring jobs to China by voting for these "holy politicians" funded by the few people out to steal what they can. You've shipped all the information and high tech jobs to India. You've brought in millions of illegals to take whatever jobs are left, particularly the low wage and service sector jobs. Your rational for this is"Our kids are lazy and they don't work very hard." The only jobs left are DOD, DHS, health care and teaching jobs. You send us to fight a war so you can save $.50/gal in your gas tank. You call us traitors for being against the war you sent us to fight. You ship all the manufactoring jobs to Communist China, yet call our generation who is predominantly democrat "bleeding heart socalists and morons". You told us to get an education, so we did, now we're stuck with $45,000 out of college between credit card and student loan debt. You then shipped all the high tech and information jobs to India. Now you bring in all these immigrants and illegals and cry about the health care system. We can't afford the health insurance or the doctor visits we need to maintain a healthy lifestyle because you've okayed 30 million illegal Mexicans to work for nothing, to help the small business man. Now with no other jobs left, we're forced into education where "we will be held accountable" to teaching kids that speak Spanish. When they fail, because they can't speak the language, it's our fault and the education system is broken. As far as I'm concerned a 24 y/o democrat. The quicker Bush and Co and the Republicans are out of office, the quicker my generation can start fixing the things you've[baby boomers] have done a tremendous job of "fixing" as you've claimed. And my personal opinion is, you sold us out, don't look for us to pick up the tab. |
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weatherman714
tagged & banned
Joined: 11 Jun 2005
Posts: 953
Location: Maryland |
| Bush in India
Fri Mar 03, 2006 9:17 am
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"People do lose jobs as a result of globalization and it's painful for those who lose jobs," Bush acknowledged. "Globalization provides great opportunities."
Enough said and right from Mr. Wonderful himself.
Bush: U.S. Should Welcome Competition By DEB RIECHMANN, Associated Press Writer
1 hour, 1 minute ago
HYDERABAD, India - President Bush urged Americans worried about a U.S. job drift to India and other countries to welcome, not fear, competition with this rapidly growing nation of 1 billion.
"The classic opportunity for our American farmers and entrepreneurs and small businesses to understand is there is a 300 million-person market of middle class citizens here in India," Bush said Friday during a discussion with young entrepreneurs at a business school here, "and that if we can make a product they want, that it becomes viable."
A day earlier, Bush and Indian Prime Minister Manmohan Singh inked a deal for the United States to provide nuclear fuel, reactors and know-how to help this energy-starved nation meet its growing demand for power, while allowing it to continue developing nuclear weapons.
"Yesterday was a way to put the Cold War behind us," Bush said of the historic nuclear accord.
As part of an effort to nurture economic ties with a nation that was once estranged from the United States, the president flew here to take in both this city's high-tech activity that is helping to drive rapid economic growth and the rural areas around it that lag behind.
The meeting with business leaders and an earlier tour around the dusty campus of an agricultural college were aimed at showcasing ways the United States and India can cooperate to spur innovation across industries.
India's exploding economy has created millions of jobs. India's outsourcing industry alone is expected to bring in $22 billion in revenue this fiscal year, much of that generated by U.S. companies.
"People do lose jobs as a result of globalization and it's painful for those who lose jobs," Bush acknowledged. "Globalization provides great opportunities."
The boom has created millions of jobs along with consumer demands that have attracted American businesses. A luxury goods market has even emerged, with brands like Louis Vuitton and Rolls Royce setting up shop along with consumer demands that have attracted American businesses.
Though 80 percent of Indians live on less than $2 a day, India's middle class has swelled to a number larger the population of the entire United States. The U.S. trade deficit with India, however, nearly doubled between 2001 and 2005 to $10 billion.
At Acharya N.G. Ranga Agricultural University, Bush watched Indians using sticks and tools to hand-till soil around young peanuts, tomatoes and soybeans.
Bush was greeted here by the heavy presence of police and paramilitary soldiers. Black flags flew above buildings in the predominantly Muslim Charminar quarter, where shops were closed in protest. Several hundred communist and Muslim demonstrators, chanting "Bush hands off India" and "Bush go home," carried posters of Osama bin Laden and burned an effigy of the American president.
"We are protesting against George Bush because he is a warmonger," said B.V. Raghavulu, a leader of the Communist Party of India (Marxist).
There was also a protest against Bush Friday in Srinagar, the summer capital of Indian-controlled Kashmir.
Later Friday, Bush was flying to Pakistan for an overnight visit under tight security to a close ally struggling with terrorism problems. An American diplomat and three other people were killed when a suicide attacker rammed a car packed with explosives into theirs. The bombing on Thursday was in Karachi, about 1,000 miles south of Islamabad, the Pakistani capital, where Bush will meet with Pervez Musharraf, the military leader who took power in a 1999 coup.
U.S. officials said there was evidence the U.S. diplomat, foreign service officer David Foy, was targeted.
"Terrorists and killers are not going to prevent me from going to Pakistan," Bush said at a news conference Thursday in New Delhi with Singh.
Bush aides said there were security concerns about the president going to Pakistan but that officials were satisfied adequate precautions were in place. "But this is not a risk-free undertaking," said national security adviser Stephen Hadley.
Eight months in the making, the nuclear accord Bush and Singh announced Thursday would reverse decades of U.S. policy and end India's long isolation as a nuclear maverick that defied world appeals and developed nuclear weapons.
India agreed to separate its tightly entwined nuclear industry — declaring 14 reactors as commercial facilities and eight as military — and to open the civilian side to international inspections for the first time.
The agreement must be approved by Congress, and Bush acknowledged that might be difficult. India still refuses to sign the Nuclear Non-proliferation Treaty, and skeptics worry that India's military nuclear program would remain outside of international safeguards.
The United Nations' nuclear watchdog agency, the International Atomic Energy Agency, gave its endorsement, calling the deal "an important step towards satisfying India's growing need for energy, including nuclear technology and fuel, as an engine for development."
"It would also bring India closer as an important partner in the nonproliferation game," IAEA Director-General Mohamed ElBaradei said in a statement.
The nuclear agreement drew fire from some in Congress. Critics have complained the deal undermines efforts to prevent states like Iran and North Korea from acquiring nuclear weapons.
"With one simple move the president has blown a hole in the nuclear rules that the entire world has been playing by and broken his own word to assure that we will not ship nuclear technology to India without the proper safeguards," said Rep. Edward Markey (news, bio, voting record) of Massachusetts, senior Democrat on the House Energy and Commerce Committee.
"While I believe that the Congress will support this agreement, it is important to take into consideration the nonproliferation concerns raised by some of my colleagues," Senate Majority Leader Bill Frist, R-Tenn, said.
The White House said India was unique because it had protected its nuclear technology and not been a proliferator. The administration also argued it was a good deal because it would provide international oversight for part of a program that has been secret since India entered the nuclear age in 1974.
The deal also could be a boon for American companies that have been barred from selling reactors and material to India.
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weatherman714
tagged & banned
Joined: 11 Jun 2005
Posts: 953
Location: Maryland |
| Bush in India
Fri Mar 03, 2006 9:18 am
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"People do lose jobs as a result of globalization and it's painful for those who lose jobs," Bush acknowledged. "Globalization provides great opportunities."
Enough said and right from Mr. Wonderful himself.
Bush: U.S. Should Welcome Competition By DEB RIECHMANN, Associated Press Writer
1 hour, 1 minute ago
HYDERABAD, India - President Bush urged Americans worried about a U.S. job drift to India and other countries to welcome, not fear, competition with this rapidly growing nation of 1 billion.
"The classic opportunity for our American farmers and entrepreneurs and small businesses to understand is there is a 300 million-person market of middle class citizens here in India," Bush said Friday during a discussion with young entrepreneurs at a business school here, "and that if we can make a product they want, that it becomes viable."
A day earlier, Bush and Indian Prime Minister Manmohan Singh inked a deal for the United States to provide nuclear fuel, reactors and know-how to help this energy-starved nation meet its growing demand for power, while allowing it to continue developing nuclear weapons.
"Yesterday was a way to put the Cold War behind us," Bush said of the historic nuclear accord.
As part of an effort to nurture economic ties with a nation that was once estranged from the United States, the president flew here to take in both this city's high-tech activity that is helping to drive rapid economic growth and the rural areas around it that lag behind.
The meeting with business leaders and an earlier tour around the dusty campus of an agricultural college were aimed at showcasing ways the United States and India can cooperate to spur innovation across industries.
India's exploding economy has created millions of jobs. India's outsourcing industry alone is expected to bring in $22 billion in revenue this fiscal year, much of that generated by U.S. companies.
"People do lose jobs as a result of globalization and it's painful for those who lose jobs," Bush acknowledged. "Globalization provides great opportunities."
The boom has created millions of jobs along with consumer demands that have attracted American businesses. A luxury goods market has even emerged, with brands like Louis Vuitton and Rolls Royce setting up shop along with consumer demands that have attracted American businesses.
Though 80 percent of Indians live on less than $2 a day, India's middle class has swelled to a number larger the population of the entire United States. The U.S. trade deficit with India, however, nearly doubled between 2001 and 2005 to $10 billion.
At Acharya N.G. Ranga Agricultural University, Bush watched Indians using sticks and tools to hand-till soil around young peanuts, tomatoes and soybeans.
Bush was greeted here by the heavy presence of police and paramilitary soldiers. Black flags flew above buildings in the predominantly Muslim Charminar quarter, where shops were closed in protest. Several hundred communist and Muslim demonstrators, chanting "Bush hands off India" and "Bush go home," carried posters of Osama bin Laden and burned an effigy of the American president.
"We are protesting against George Bush because he is a warmonger," said B.V. Raghavulu, a leader of the Communist Party of India (Marxist).
There was also a protest against Bush Friday in Srinagar, the summer capital of Indian-controlled Kashmir.
Later Friday, Bush was flying to Pakistan for an overnight visit under tight security to a close ally struggling with terrorism problems. An American diplomat and three other people were killed when a suicide attacker rammed a car packed with explosives into theirs. The bombing on Thursday was in Karachi, about 1,000 miles south of Islamabad, the Pakistani capital, where Bush will meet with Pervez Musharraf, the military leader who took power in a 1999 coup.
U.S. officials said there was evidence the U.S. diplomat, foreign service officer David Foy, was targeted.
"Terrorists and killers are not going to prevent me from going to Pakistan," Bush said at a news conference Thursday in New Delhi with Singh.
Bush aides said there were security concerns about the president going to Pakistan but that officials were satisfied adequate precautions were in place. "But this is not a risk-free undertaking," said national security adviser Stephen Hadley.
Eight months in the making, the nuclear accord Bush and Singh announced Thursday would reverse decades of U.S. policy and end India's long isolation as a nuclear maverick that defied world appeals and developed nuclear weapons.
India agreed to separate its tightly entwined nuclear industry — declaring 14 reactors as commercial facilities and eight as military — and to open the civilian side to international inspections for the first time.
The agreement must be approved by Congress, and Bush acknowledged that might be difficult. India still refuses to sign the Nuclear Non-proliferation Treaty, and skeptics worry that India's military nuclear program would remain outside of international safeguards.
The United Nations' nuclear watchdog agency, the International Atomic Energy Agency, gave its endorsement, calling the deal "an important step towards satisfying India's growing need for energy, including nuclear technology and fuel, as an engine for development."
"It would also bring India closer as an important partner in the nonproliferation game," IAEA Director-General Mohamed ElBaradei said in a statement.
The nuclear agreement drew fire from some in Congress. Critics have complained the deal undermines efforts to prevent states like Iran and North Korea from acquiring nuclear weapons.
"With one simple move the president has blown a hole in the nuclear rules that the entire world has been playing by and broken his own word to assure that we will not ship nuclear technology to India without the proper safeguards," said Rep. Edward Markey (news, bio, voting record) of Massachusetts, senior Democrat on the House Energy and Commerce Committee.
"While I believe that the Congress will support this agreement, it is important to take into consideration the nonproliferation concerns raised by some of my colleagues," Senate Majority Leader Bill Frist, R-Tenn, said.
The White House said India was unique because it had protected its nuclear technology and not been a proliferator. The administration also argued it was a good deal because it would provide international oversight for part of a program that has been secret since India entered the nuclear age in 1974.
The deal also could be a boon for American companies that have been barred from selling reactors and material to India.
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