posted 07-02-2003 09:15 PM            

quote:

---

I am not rich by any means, but if someone makes money, I am sure not jealous and I do not see them as evil. Nor do I think they have taken money from me.

---

See, liberals see it as a zero sum game. They believe there is only a limited amount of wealth out there and that by me getting wealthy, I must be taking it from somebody else. They do not understand the concept of wealth creation or generation. In a capitalistic society, becoming wealthy, CREATES wealth and opportunity for others.

posted 08-08-2003 01:34 AM            

like I said before mech old buddy old pal...the economy is good...and the dude below says it is surging...my....

Productivity Surges, Jobless Claims Wane
Thu Aug 7, 5:38 PM ET

By Glenn Somerville

WASHINGTON (Reuters) - U.S. worker productivity surged in the second quarter at more than twice the first-quarter clip, the government said on Thursday, boosting hopes for stronger economic growth to generate more jobs.

The Labor Department (news - web sites) said productivity, a gauge of how much a worker produces per hour, accelerated to a 5.7 percent annual rate, more than twice the first quarter's 2.1 percent gain.

Although strong productivity growth has actually been one culprit behind the job market's woes as wary executives extract more from existing workforces, economists hope it will ultimately foster profit improvements and encourage hiring.

In a separate report, Labor said new claims for jobless benefits remained below the 400,000 level for a third straight week during the Aug. 2 week at 390,000 -- the lowest level since 378,000 were filed in the Feb. 8 week.

Analysts said the figures supported the likelihood of a pickup in economic growth during the second half, but cautioned against expecting a sudden upswing in hiring.

"It is interesting that we got the one-two punch: a report that shows very little rehiring, and a report that shows why -- companies don't need new labor when they can squeeze every last bit of productivity out of the operations they are already running," said economist Lara Rhame of Brown Bothers Harriman in New York.

ECONOMY HEALING

Financial markets responded cautiously to the data. The Dow Jones Industrial Average managed a 64.71-point gain to end at 9,126.45 but the high tech-laden Nasdaq composite index stalled, down less than a point to a 1,652.18-point close.

Bond prices rose by the end of the day, but in reaction to a successful completion of huge government debt sales to finance its burgeoning deficit rather than the economic data. The price of he bellwether 10-year U.S. Treasury note was up 12/32s of a point to yield 4.22 percent.

Economist Joel Naroff of Naroff Economic Advisers in Holland, Pa., said it appeared businesses were on the way to boosting earnings and output but it will take time to assess.

"With earnings beginning to improve, the next logical step is for hiring to start picking up," Naroff said, adding: "We should see that in the next few months."

So far, the recovery from recession in 2001 has not generated new jobs, with growth too slow to prompt business to invest or hire. There have been more reports of companies shedding workers and shifting jobs out of the United States to cheap-labor countries like India than of new hiring.

Consumers, by contrast, have so far held up their end of the economic bargain by shopping heavily, though there are questions how long the spending boom can continue.

A possible warning-signal came on Thursday from the Federal Reserve (news - web sites), which reported consumer installment credit shrank by $400 million in June, the first decline since November 2002. The main reason was less use of charge and credit-card debt to finance purchases, the Fed said.

The Fed report did not investigate why consumers resorted less to credit. Analysts noted it could be anything from reduced optimism in the face of high unemployment to simply using money from mortgage refinancings to pay off credit cards that impose punishing interest charges on unpaid balances.

Indeed, reports on Thursday from big U.S. retailers showed July sales were strong as summer weather aided business.

Electronics retailer Best Buy Co. Inc., department store operator Federated Department Stores Inc. and specialty stores AnnTaylor Stores Corp. and Abercrombie & Fitch all raised their quarterly earnings forecasts.

Bolstering the idea of moderate improvement in job prospects, Labor said the four-week moving average of jobless claims, which smooth weekly gyrations, also fell below 400,000-a-week to 397,250 -- lowest since the Feb. 22 week.

JOBS WANTED

The Commerce Department (news - web sites) separately said June wholesale sales climbed by 1.5 percent, the healthiest monthly gain since a 1.6 percent increase in April 2002. New cars, electrical equipment and gasoline sales all rose from May.

Analysts said national unemployment -- which hit a nine-year high of 6.4 percent in June before easing to 6.2 percent in July -- may be headed down.

"I think this latest report on state jobless claims is consistent with a mildly improving U.S. labor market and it very much supports the notion that the unemployment rate perhaps peaked for the cycle at 6.4 percent in June," said Moody's Investors Service economist John Lonski in New York.

The productivity report highlighted that companies have learned to stay lean and mean as they try to boost profits by operating with minimal new hiring in a business environment where it is hard to make price rises stick.

Unit labor costs, monitored as a sign of potential wage pressure, declined at a 2.1 percent rate during the second quarter after rising 2 percent in the first quarter this year.

posted 08-08-2003 02:01 AM            

REALLY??? For WHOM?

Wall Street?

My sources say we are still in a world of shit.

Lincoln cutting more jobs
http://www.ctnow.com/business/hc-lincoln0805.artaug05,0,2179995.
story?coll=hc-headlines-business

Economy so bad workers giving up looking
http://www.madison.com/captimes/opinion/column/guest/54132.php

Booming China trade rankles the U.S.
http://www.rense.com/general39/trade.htm

Layoffs surge in July
http://www.usatoday.com/money/economy/employment/2003-08-05-challenger_x.htm

Factories bleeding Jobs
http://www.ctnow.com/business/hc-mfgcuts0806.artaug06,0,3748270.
story?coll=hc-headlines-business

What happened to the U.S. Economy
http://www.harrybrowne.org/articles/economicgrowth.htm

“Thriving” U.S. companies ignore China trade surplus issue
http://news.ft.com/servlet/ContentServer?pagename=
FT.com/StoryFT/FullStory&c=StoryFT&cid=1059478768533&p=1012571727162

posted 08-08-2003 03:14 AM            

those, who no longer draw unemployment Benefits
are no longer included in statistics listing "the unemployed".

Only those in the first 6 months of searching for a decent job in a depression economy
(which has no honest jobs)
are listed in official statistics.

Never since Joe Stalin has any government been "sooo "truthful" with official numbers"

Those who have given up hope (of ever finding a decent job again) have been dropped from the database!

posted 08-08-2003 03:29 AM            

you don't make any sense...

how about another blast of realism...upward trend since december of last year...

Strong Retail Sales Jump-Start Economy
Thu Aug 7,10:32 PM ET

By ANNE D'INNOCENZIO, AP Business Writer

NEW YORK - The nation's retailers finally got a break in July as warm weather and heavy discounting lifted sales above expectations, even for struggling department stores.

The upbeat sales reports issued Thursday halted a sluggish trend seen since last summer and raised hopes that consumers will be in the mood to spend for the critical back-to-school season.

Sales picked up for most retailing sectors. Business was strong enough at Wal-Mart Stores Inc. that the industry leader boosted its profit outlook for the second quarter. Sears, Roebuck and Co., Target Corp., J.C. Penney Co. Inc., and Gap Inc. were among the retailers reporting sales that beat analyst forecasts.

Even May Department Stores Co. eked out an increase in sales at stores open at least a year, surpassing analysts' forecasts. Sales at stores open at least a year, known as same-store sales, are considered the best indicator of a retailer's health.

"It was a good month, and it may be a good omen for the second half," said Michael P. Niemira, vice president of Bank of Tokyo-Mitsubishi Ltd. "Sure, the month was promotional and weather helped, but this could be the start of a much better trend."

Bank of Tokyo-Mitsubishi's same-store sales tally of 77 retailers was up 4.3 percent, well above the 3 percent gain Niemira expected. That compares to a 2.6 percent increase in the year-ago period.

Niemira said the results outpaced the 1.7 percent monthly average gain during the January through June period, and was the best showing since June 2002, when the index posted a 5.1 percent increase.

The strong performance from retailers coincided with strong economic data from the government.

The Labor Department (news - web sites) reported that productivity — the amount that an employee produces per hour of work — rose at an annual rate of 5.7 percent in the April to June quarter. That was the best performance since the third quarter of 2002.

The department also said new applications for jobless benefits slipped by a seasonally adjusted 3,000 to a six-month low of 390,000 for the work week ending Aug. 2.

July, when retailers step up discounting to clear out summer merchandise and make room for fall goods, is one of the least important months in the retail calendar. But analysts are hoping last month's results will be a precursor for a strong back-to-school season and robust economic recovery.

According to a recent National Retail Federation survey of almost 9,000 households, families with school-age children will spend an average of $450.76 on back-to-school items, up from $441.60 in 2002. Retailers are hoping the back-to-school season will get a lift from the $13 billion in tax credit checks being sent to more than 25 million families.

Wal-Mart, which along with other retailers struggled with cooler than normal temperatures in May and June, said same-store sales were up 4.6 percent in July, well past the 3.7 percent increase predicted by analysts surveyed by Thomson First Call.

Wal-Mart, which reported strong sales of food, electronics, swimwear and pet supplies, attributed the strong results to warm weather and clearance sales.

The discounter now expects earnings from continuing operations for the second quarter, ended July 31 to be around 52 cents per share. Analysts surveyed by Thomson First Call expected 50 cents per share. The retailer is slated to report earnings results on Wednesday.

Meanwhile, Target Corp. posted a same-store sales increase of 3.1 percent, besting the 2.1 percent gain analysts expected.

The struggling department store sector made a big improvement, posting a same-stores sales increase of 1.5 percent in July, the first gain and strongest sales pace for that segment since November 2001, according to Niemira.

Penney said same-store sales were up 3.7 percent for its department store business, beating Wall Street's projections of a 1 percent gain.

May said its same-store sales rose 1.8 percent. Analysts had expected a same-store sales decrease of 2.5 percent.

Sears, Roebuck and Co. reported a 0.8 percent decline in same-store sales, smaller than the 1.8 percent decline Wall Street forecast.

Federated Department Stores Inc., which operates stores including Bloomingdale's and Macy's, did not fare as well, reporting same-store sales that decreased 0.4 percent. Still, Federated's same-store results beat analysts' projections for a 1.1 percent decline. And the company, buoyed by leaner inventory and improved sales, increased its earnings forecast to between 60 and 63 cents for the second quarter. Analysts were predicting 54 cents per share.

posted 08-08-2003 05:24 AM            

either way Bush minions thrive on the results of massive despair as the unemployed
provide cheap "under the table labor"

or crime statistics to justify extension of the rightwing police state's stranglehold on freedom.

Hitler made the template.
Bush minions follow the rightwing Nazi forms.

"Make them hurt- take advantage of their misery."

Zieg

Hail to the 'deserter-in-chief' Bush the lesser.

the 'son-of-a-bush' who seeks to rule or ruin.

As his darkside minions sell their souls
to destroy ameriKa and uplift Republicans from the gutter where they belong.

posted 08-08-2003 01:31 PM            

********************************************
http://www.miami.com/mld/miamiherald/news/nation/6452970.htm

Posted on Mon, Aug. 04, 2003
GOP bills push legalization, regulation of foreign workers
BY RACHEL L. SWARNS
New York Times Service

WASHINGTON - For the first time since the attacks of Sept. 11, 2001, several Republicans in Congress are pushing for broad legislation that would regulate the flow of foreign workers into the country and potentially legalize millions of illegal employees.

posted 08-08-2003 01:39 PM            

My articles are NOT "Old"...they are dated either August or July 2003 and most certainly reflect REALITY...not Wall Street speculation.

The REALITY is...American workers wages have been leveling off steadily and not keeping up with inflation.

"--From 1949 through 1973, the median income rose an average of 3.1% per year. Since then the increase has been only 0.2% per year — barely any gain at all. If the earlier trend had continued, the typical American family's income today would be more than twice as large as it is.--"

posted 08-08-2003 09:57 PM            

To hell with everyone else..right Prof?You don't care unless it effects you. No suprise.

posted 08-08-2003 10:27 PM            

(average pay in the U.S is around 15.60 an hour)

btw I could give a shit less what you think about me...

and there is NO inflation...

alex jones is NOT an economist...

he is however a liar...

pooh on ya

posted 08-08-2003 10:32 PM            

Mabye lets not have a fair economy at all.

Lets just let NAFTA/GATT/WTO just roll all over the workers of America.

Uhhh...WHERE DOES IT SAY IN THE CONSTITUTION that NAFTA/GATT/WTO takes precedence over our national sovereignty?

Better yet...lets not have a government at all and let everyone F**K each other. One big giant Darwinian economic free for all.

posted 08-08-2003 10:44 PM            

states rights...the topic on the next "overnight show" with theseeker...