The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.
Showing posts with label Great Recession. Show all posts
Showing posts with label Great Recession. Show all posts

Wednesday, January 9, 2019

Trump Delivers A Fear Laced Mess; Obama Denied 2014 Airtime

Image result for trump oval office address
Oh, how we play the game differently. 

In 2014 President Barack Obama requested air time to speak about the nation's growing immigration problem. He didn't get the time he requested; only liberal media ran the speech.

Before The Young Turks video, think about how all electronic media broadcast Trump's lie-filled fear mongering nine-minute diatribe against what he calls "illegal aliens." We will not post Trump's remarks here as we work to avoid exhibitions of utter manipulation and political posturing from an administration which is fizzling down to a heap of embarrassing garbage. In short we strive to avoid posting lies and at last count, the Washington Post tracked Trump's lie level since taking office in 2017 at over 7400. That means the lie for Trump is a pathology. 

We prefer to post a definition of what the right calls "illegal aliens." 
An alien who entered the United States illegally without the proper authorization and documents, or who entered the United States legally and has since violated the terms of his or her visa or overstayed the time limit. An undocumented alien is deportable if apprehended.Nov 5, 2018 
Immigration Terms and Definitions Involving Aliens | Internal Revenue ...
"..... violated the terms of his or her visa or overstayed the time limit."  In 2017, cases of visa limit violations surpassed 600,000.

The Daily Mail UK
Image result for most illegal immigrants overstay visas

While we do not have numbers of successful illegal border crossings at the southern border is impossible to state accurately we can look at the number of apprehensions in 2017.  Bloomberg offers a noteworthy review of southern border crossings or attempted crossings as well as where they are reported to have crossed into the US. The article states the number of successful crossings in 2015 down significantly from previous years. Data indicates the number of such crossings has dropped significantly after the Bush Great Recession.

Trumps Wall With Mexico: How many people cross illegally into the U.S. from Mexico?

Trumps Wall With Mexico: Would a wall be effective
Yes, we have Central American and Mexicans who wish to enter the US and many are or were doing so legally via presenting themselves at border stations with requests for asylum. They are not wanton lawbreakers in "caravans" seeking to enter the US. Recall the pre-election "caravan" which wasn't? How about Trump dispatching a few thousand US troops to the southern border for what amounted to a bivouac and gross waste of budget dollars?

"...they are bringing drugs." (Heroin and Fentanyl)


The administration claims there has been a dramatic spike in illegal drugs entering the country at the southwest border. According to U.S. Customs and Border Protection, there was an increase in the number of drug seizures of methamphetamine and fentanyl from fiscal year 2017 to fiscal year 2018. (The data for fiscal year 2018 doesn’t have numbers for September.) 
In a 2018 DEA drug threat assessment report, several of the drugs highlighted by Customs and Border Protection pass through legal ports of entry, not through illegal border crossings. (The agency traced most heroin and cocaine to privately owned vehicles passing through legal ports of entry. Fentanyl from Mexico is most often transported this way, too. Sometimes, drugs are mixed in with legal goods on tractor-trailers.)

According to drug threat assessments from the Drug Enforcement Administration, the majority of the drugs that cross the southwest border are brought in through official ports of entry. This has been the case for years. 
David Bier, an immigration policy analyst for the libertarian Cato Institute, wrote in a December 2018 blog post noted that the drugs Border Patrol agents seize at official ports of entry were three times more valuable than the drugs seized outside of those ports. 
“In other words, a border wall would not target the most valuable drugs crossing the border,” Bier wrote.
The PBS article published mere hours before Trump took to US airways to pitch for a wall which will if built quickly become a major waste of US Funds If built a wall Trump convinced millions Mexico would pick up the tab. In the article, Bloomberg highlights and reviews nine facts regarding Trump's "border crisis" the non-crisis. Yet, we live every day with lie after lie from Trump and his cabal.

The daily doses of Trumpism also fit neatly into the revenue streams of US media.  

There was enough red herring B/S to back P.T. Barnum into a submissive position, but the least of which is summed up in the following meme.  Trump mentioned Murderers and graphically depicted three cases of murder perpetrated by immigrants. I offer the following as the most dangerous as we live our lives.

Image may contain: 2 people, text

While only certain media ran with Obama's border address, we remind that all television networks carried the Trump nine minutes of lies as if the nation had again landed on the Moon.

The Young Turks and Obama's non-opportunity.

If you care to compare Obama's address with that which Trump delivered a few hours ago, you will have to seek it via a Google Search. We are moving to a position of only posting Trump's remarks as part of a fact check piece.

US media really must evaluate its role in advancing Trumpism. The networks are an active participating entity (and support beam) for Trump's reality TV administration while sharing Trump's incessant lies to people who may be gullible enough to believe the lies.


Friday, August 1, 2014

July Jobs Report...A Sign Of An Improving Economy?

Democrat Party economic policy driven and enacted via the nation's 44th president is paying dividends. Policy, practice, procedure (3Ps) are working!

July 2014

Fifty-Two (52) straight weeks of job growth; a first since 1997! 

In past months, the consistent refrain was: "....but those numbers are low paying insignificant jobs."   Well, the "shark has turned." We are reading reports the July jobs report includes jobs growth in categories consider "Middle class."  I personal find use of the words 'middle class' a convenient media labelNonetheless, I respect efforts to differentiate July jobs from other reports that were infested with "low paying" hires. Media has to reach the ears and brain of the full spectrum of viewers; maybe "middle class" Jobs properly denotes jobs well about minimum wage level jobs.

The following CNN segment includes an indication of July hires at a level that clearly denotes economic improvement.

CNN Christine Romans July Jobs Report

CNN Money- Christine Romans

Twitter Post 
— The White House (@WhiteHouse) August 1, 2014

A much deeper perspective from the Center on Budget and Policy Priorities (CBPP).

Re-posted with permission from the Center on Budget and Policy Priorities

Center on Budget and Policy Priorities

"Today’s solid jobs report shows a labor market that’s moving in the right direction but still has a ways to go before everyone who wants to work has a reasonable chance of finding a suitable job.  Long-term unemployment (more than 26 weeks) remains a particular problem, and Congress dealt the long-term unemployed a harsh blow when it allowed federal emergency jobless benefits to expire prematurely at the end of last year.  Seven months later, long-term unemployment remains higher than when any of the previous seven emergency unemployment programs expired after previous recessions (see chart).  In addition, the share of the population with a job remains well below where it was at the start of the recession.
"Payroll employment growth has picked up in 2014 and the unemployment rate has fallen faster than expected, but weak labor force participation and persistent long-term unemployment continue to plague the jobs recovery.
"To be counted in the labor force, a person must have a job or be actively looking for one.  When jobs are hard to find, more people stop looking or stay home to care for young children, do home repairs, take courses at the local community college, or the like until job prospects improve.  These people are considered 'out of the labor force' rather than unemployed. 
"Over the past year and a half, the decline in the unemployment rate has been nearly entirely offset by a decline in labor force participation (the share of the population aged 16 and over working or actively looking for work).  As a result, the share of the population with a job has barely budged from where it plunged in the Great Recession.  Some of the decline in labor force participation reflects the graying of the population, with more Americans reaching retirement age, but economic research suggests that a significant share of it reflects weak demand for labor in a still-somewhat-sluggish recovery.
"Since the start of the Great Recession, long-term unemployment has been much higher and more persistent than at any other time in data that go back to the late 1940s.  People unemployed 27 weeks or longer still compose roughly a third of the unemployed.  That’s down from a peak of over 45 percent in 2010, but remains higher than the pre-Great Recession peak of 26 percent in 1982 (when overall unemployment was 10.1 percent).  While the long-term unemployment rate of 2.0 percent is below the peak of 2.6 percent immediately after the 1981-82 recession, it’s still considerably higher than the 1.3 percent rate when federal emergency jobless benefits for that recession expired in March 1985.
"People need to start returning to the labor force in greater numbers, and long term unemployment needs to fall much more before we can declare the labor market healthy."
Key points:
  • The unemployment rate edged up to 6.2 percent in July, and 9.7 million people were unemployed.  The unemployment rate was 5.3 percent for whites (0.9 percentage points higher than at the start of the recession), 11.4 percent for African Americans (2.4 percentage points higher than at the start of the recession), and 7.8 percent for Hispanics or Latinos (1.5 percentage points higher than at the start of the recession).
  • Long-term unemployment remains a significant concern.  Roughly a third (32.9 percent) of the 9.7 million people who are unemployed — 3.2 million people — have been looking for work for 27 weeks or longer.  These long-term unemployed represent 2.0 percent of the labor force.  Before this recession, the previous highs for these statistics over the past six decades were 26.0 percent and 2.6 percent, respectively, in June 1983, early in the recovery from the 1981-82 recession.  By the end of the first year of the recovery from that recession, however, the long-term unemployment rate had dropped below 2 percent. 
View the full statement: 3 pp.

Enact a lawsuit or impeach who?

Tuesday, December 24, 2013

Millions To Lose Unemployment Payments; Yet Ryan Claims Victory: "Got 70%.":

It seems the GOP was not paying attention to this meme
If my memory serves me, the Republicans in the US House have extended unemployment payments for the Bush Era unemployed at least once since George Bush left office. In December 2010, The GOP agreed to extended payments to the very people their policies forced out of work, in exchange for not raising taxes on the nations Top% income earners.

Last week GOP members of the US House adjourned after snubbing their noses at the long-term unemployed. The much celebrated "deal" orchestrated by Patty Murray and Paul Ryan was settled with the less financial fortunate on the outside (looking in).  And, to rub salt in the open wounds of those living on the economic edge, their payments will stop three days after Christmas 2013.

What kind of Christmas can the affected families plan for their kids and family? Those families languish in their plight while the highly paid and in most cases wealthy members of the House flew home for another five plus week break. What a sham and what a shame for the GOP to turn their back on the very people they put out of work.  

The following gallery of GOP leadership sat thought the Bush years like obedient sheeple without one word of criticism as Bush and his policies shoved 1.76 million people out of jobs.



And, not one of the gallery give one dime
(excuse the pun) About the plight of people who will have no income et al, three days after Christmas. If I am not mistaken, to the personm the gallery is loaded with various degrees of millionaire.

Before we show a few charts and graphs to remind of the damage done to the nation via the gallery above, we want to offer a poignant video with a plea against casting people off unemployment payments.

As promised a look at how the gallery and Bush/Cheney dealt a poker hand to people who will fold (their hands) three days after Christmas

The Economist View
Wednesday, July 14, 2010 
Scott Winship says  that he was skeptical about extending unemployment insurance, but after seeing this chart he was "shocked ... and much more sympathetic to extension of unemployment insurance than I was yesterday":

Posted by   on Wednesday, July 14, 2010

July 2011 The Pensito Review "Borrow and Spend Policies of Bush, GOP Caused Employment’s Downward Slide"

Since Bush left office in January 2009, two factors have been scrubbing away in tandem at the record of failure that was the Bush presidency, glossing it over and spiffing it up. 
The first factor is that most Americans are too busy with real life to follow current events. Perhaps they recall that Bush came off as incompetent and buffoonish when he was in office, but what is more present in their minds is how the current downturn is affecting them and their family and friends now. The whys and wherefores of how the disaster started are fuzzy, half-forgotten. 
On the other hand, Republicans and their propaganda ministry at Fox and on the radio have been busy from the moment Bush left office, taking advantage of Americans’ focus elsewhere to rewrite history . The propagandists have convinced their viewers and listeners, the GOP’s tea bagger base, that Obama caused the Bush Recession. Day by day, minute by minute, their revision of history is spreading virally into the electorate. 
Of course, propaganda tends to collapse when confronted with facts. The chart above shows who is to blame for the economic crisis in a way that cannot be rewritten by the Right Wing Noise Machine.


Job Losses and Gains under Bush and Obama

  The economy was collapsing at its fastest rate since the Great Depression when Obama took office. In his second month he got Congress to pass a jobs stimulus bill worth about $900 billion. This helped stop the collapse and heightened the first spike in job growth. But the Republicans blocked more stimulus and by August 2010, falling stimulus spending began reducing job growth.
Now, lets take a (2012) ZFacts look at the the GOP and is Congressional grip on the US House of Representatives. Since, Bush and Cheney were White House party leaders, we see validation of GOP economic policy. We also see clear validation of empirical data that indicates the Democrats perform superior to the GOP in all matters related to the US economy. You might also find room in your cognitive processes for a snapshot of how "trickle-down" with Bush/Cheney interrupted substantial economic growth (And contributed to a Great Recession).

Jobs: Clinton: +20, Bush: –2, Obama +3

The Republicans often comment about why Obama did not perform more economic miracles when the Democrats held a majority in Congress.  We look at the nation's economic woes much differently.

Our review starts with the worse economy since the Great Depression and moves forward with consistent jobs growth within month so of president Obama taking office in January 2009. The chart below reflects our point that GOP obstruction has kept Job growth at a level that facilitates GOP mantra and propagandizing about poor jobs growth.  Notice the second red arrow in the chart below.  Growth seems to have come to a plateau.

Turning Around the Worst Recession Since 1938

  • Bush left office with the economy losing 10 Million jobs per year. (That was the rate of loss in January (see graph).)
  • Obama's Job Stimulus stopped the losses in record time.
  • As of 10/7/2012, 5.2 Million private-sector jobs had been added.
Yet, they walked away excited about what they got from the deal.  Paul Ryan was reported to have commented the GOP Got 70% of what they wanted and the Dems got 30 per cent. How very callous!

We continue to posit, GOP members of Congress are not serving in the nation's capital to serve the people. They are solely there to serve the nation's Top 20%, corporate America and uber wealthy plutocrats.

A recent Public Policy Polling survey shows a majority of Americas are in favor of extending unemployment benefits. The poll also shows the GOP may take a 2014 mid-term "hit," if the House continues to ignore the needs of people.
And, you continue to vote for the GOP!

Sunday, November 3, 2013

Rand Paul Tea Party Leader: Credibility, Ethics and Values, Missing Traits?

Plagiarism in speeches from Wiki and now definitive evidence of plagiarism in his book!  Think the book is a buy for ya? 
image via 

Rand Paul apparently suffers from a lack of traits that are second nature for others.  He either does not understand plagiarism or he does not have common decency in avoiding deceit. In either case, each relates to values and ethics. It seems both personal traits are less than evident in Rand Paul. 

Recent reports from MSNBC, Politico, and Buzz Feed comprise a collective body of investigative work that without question places Paul in need of a Michael Jackson-like "Man in the Mirror" who exhibits combinations of: deceit, dishonesty, lack of ethics, diminished values, disregard for commonly accepted practices, charlatanism, manipulation for acquisition of your money.

If You Wanna Make The 
World A Better Place, 
Take A Look At Yourself, And 
Then Make A Change 
Take A Look At Yourself, And 
Then Make A Change

We realize Paul as a US Senator rode into Washington DC from the "red state" of Kentucky with strong backing from Tea Party constituents. Tea party constituents across the nation have delivered politicians to the core of federal governance who collectively embody the Kochian school of US social thought and paradigm. We cannot think of one tea party politician who exhibits levels of compassion for people comparable to their affinity for anarchistic oratory and associated acts.  It is a sad state, but a reality the most visible of Koch's congressional army also seem to have ingrained level of scruples common to the uber wealthy Kochs.

A list of the most vocal tea party members of congress is as revealing as the morning sunrise Michelle Bachmann, Rand Paul, Ted Cruz, Mike Lee, Louis Gohmert, Alan West, former congressman Joe Walsh, opportunist and Heritage leader Jim Demint, and fake politician carnival barker Sarah Palin to name a few.  

We are not positing Rand Paul as a tea party politician embodies a deceitful inner core shared by all tea party members of CongressAlthough most in list (above) without question exhibit shared similarity with the Kentucky Senator. Paul has and exhibits an inner core that we posit is actually based in a lack intellectually supported common sense and an absence of truism. His occasional gonfaloning about being a physician is another area of question.

Paul certainly has attained some level of education that facilitated his claim of education levels with terminal degrees (e.g., PhD, M.D.). But, questions about the quality of his education lingering as annoyingly as removal of wad of bubble-gum on the sole of a shoe. Paul's education and certification as an 'eye' doctor (in Paul's case we refuse to use the word ophthalmologist) is another area of conundrum. While running for Congress in 2010, Paul's education certification became an area of contention.

Fox News Dot Com, of all networks, published about Paul's self-certification of his doctoral background. We offer a comment from Paul's 2010 senatorial opponent's campaign manager.
"It is clear that Rand Paul does not think the rules apply to him," Conway campaign manager Jonathan Drobis said in a statement Monday.
We offer a few excerpts from the Fox News/AP piece:  

Rand Paul's Doctor Credentials Questioned for Lacking Top Board's Certification, Published June 14, 2010 
Associated Press

Rand Paul, who touts his career as a Kentucky eye doctor as part of his outsider credentials in his campaign for U.S. Senate, isn't certified by his profession's leading group. 
He tried Monday to bat away questions about it by calling it an attack on his livelihood, saying the scrutiny stems from his challenge of a powerful medical group over a certification policy he thought was unfair. 
The libertarian-leaning Republican helped create a rival certification group more than a decade ago. He said the group has since recertified several hundred ophthalmologists, despite not being recognized the American Board of Medical Specialties -- the governing group for two dozen medical specialty boards. 
Questions about Paul's certification as an eye surgeon first arose in a story published Sunday in The Courier-Journal of Louisville. 
Paul, who is continuing to practice in Bowling Green during the campaign, chafed Monday at questions about his certification. 
"It's a personal assault on my ability to make a living," Paul told The Associated Press in a telephone interview.

The ever-present an quirky Ron Paul commented in defense of his son's veritable self-certification. 

By focusing on an internal struggle within his profession, he said, "you vilify me and make it out to sound, 'Oh, ... there's something wrong with him as a physician because he chose not to register" with the American Board of Ophthalmology.

Paul said he helped formed the rival group because the established organization exempted older ophthalmologists from re-certification. He likened it to members of Congress passing laws that don't apply to themselves.

Of course, Rand Paul was empathetic to older ophthalmologists! Should we believe Rand Paul self-certified out of some sort of "Robin Hood" syndrome? As we look back on his certification and compare against current evidence of multiple cases of deficit, we have to question his reason for self-certification. In fact, we question his values as a human being well beyond his veracity and credibility as a politician.

BuzzFeed's piece on Paul's obvious plagiarized entries into his book shows a side of Paul voters must consider. Should a Member of Congress how 'goes here" have the right to sit in the US Senate and draws a $175,000 annual pay check (with free medical care)?   Let's visit BuzzFeed.

Three Pages Of Rand Paul’s Book Were Plagiarized From Think Tanks

The worst case yet. Paul’s office says the book notes Paul didn’t individually report out each case.posted on 

Tuesday, September 24, 2013

Media Matters: Fox News.... Doocy's Deficit Lie!

You Betcha!!!

Media Matters has provided insight into the deviate minds of Fox News producer/propagandist. Earlier this week Fox and Friends ended a segment with the nation's least credible TV morning host babble a lie about how President Obama has increased the deficit.  

Everyone knows that early morning news is a huge revenue magnet for the big three cable networks and the big three non-cable networks.  Most know early morning viewing demographics especially for males over age fifty. Hence, the heavy dose of "COUCH legs and thighs" on Fox and Friends.  If Fox News viewers had only Doocy and Kilmeade to entertain with anti Obama "red meat", the network would certainly lose market share.  

While Hasslebeck starts to open-up (pun unintentional)  with more leggy shots in the AM, her male co-hosts have the task of spewing inane drivel and lies to viewers. Viewers who we do not believe for the most part actually buy-into the morning "doocy-doocy." There is another sector of Fox News "low information" viewers who may actually believe each strategic lie from the Fox and Friends hosts. And, that leaves remaining viewers who without doubt run-off to work with a daily dose of Doocy, Klimeade and "Legs"...Excuse me, Hasselbeck. 

Media Matter explains how Doocy's Andrew Breitbart -like comments came from Fox News producers and writers.

The 137.7 percent deficit increase cited by Fox is ostensibly calculated by comparing the 2012 deficit to that of 2008. This figure, however, completely misrepresents deficits under the Obama administration, by picking erroneous start and end dates.

Two points. 

As President Obama took office in January 2009, he faced a veritable, Moby Dick Great Recession, that was close to a second Great Depression. Major infusions of Stimulus dollars were applied to the worsening recession like huge DC-10 aircraft dropping hundreds of thousands gallons of  (lake drawn) water on a forest fire.

Media Matters addressed the phony Fox News reporting very effectively.  I must ask a set of  important question. 

What is the current state of the Obama Deficit?  How did the president show such a pronounced jump in spending between 2008 and 2009?   What contributed?

The Deficit is decreasing!

Obama's spending seems to have fallen in a few critical areas.  

I. Stimulus to combat the Bush Great Recession and ward-off Depression
II. Unemployment payments resultant from the Bush area collapse (2007 - 2009)
III. War Debt and Obama escalation in Afghanistan . (an Obama expenditure no doubt) NO CHARTED AGAINST OBAMA BELOW
IV. The Affordable Care Act (an Obama initiative for certain) NOT CHARTED BELOW
V. Tax cuts

Wouldn't it be more fair and balanced to admit that Obama's sharp increase in spending in 2009 was majorly influenced by the state of the economy after Bush?  We only ask for fairness in reporting. 

Fairness at Fox is a form of misnomer.

FOX 2011 "Playing the numbers with Unemployment 2011"

On Monday, Fox News displayed a chart illustrating changes to the unemployment rate during 2011:
Note how the 8.6 percent unemployment rate in November looks higher than March's 8.8 percent rate, and about the same as the 9 percent unemployment rate in October.

More According to Egberto Willies, "Caught Lying Again....."

Department of Labor 2009 unemployment rate (7.8%) compared against unofficial unemployment rate of 14.7 per cent.  The Dept. of Labor unemployment rate never exceeded 10 percent.  (See Bureau of Labor Statistics chart Q4 2009)

Additional Media Matters analyses of Fox News lies and misrepresentations. The representations from Media Matters are not examples of an incompetent newsroom intern. You will see are stark efforts to manipulate the minds of those foolish enough to tune-in.

Of course, Media Matters nor this webpage, has a Hasselbeck to "COUCH Leg" you through the data. 

Friday, April 26, 2013

A Look Back At Lingering Anti-Obama Propaganda From Dick Cheney

Last August Fox News Sean Hannity gave Dick Cheney opportunity to propagandize against President Obama as the nation moved towards the November General Elections.

"Obama is a terrible president." Cheney railed.  And he did so without one iota of evidence to support his false diatribe.

Time for a bit of perspective.  Perspective is critical as we move away from  April 25, 2013: Bush Library day.  Yesterday, Pew Research published a Daily Number piece.  The piece includes approval  rating data from the Bush inauguration through his departure from the Oval Office in 2009. The data and focus of the piece is George W. Bush with respect to the dedication of his library and his public perception as he left office.  Dick Cheney is included in on chart as he was culpable in administration of the verifiable worse presidential administration in recent US History.

We at the TPI have written and published many pieces about Bush/Cheney actual job performance (policies, practices, malfeasance and failures). Let's take a very brief peep at Cheney's approval ratings.  We offer approval ratings based on the data as a true measure of credibility from the perspective of voters and polling survey respondents.

A Case of Credibility

Addictinginfo Dot Org

By CBS News (article excerpts)

(CBS) President Bush will leave office as one of the most unpopular departing presidents in history, according to a new CBS News/New York Times poll showing Mr. Bush’s final approval rating at 22 percent.  

Seventy-three percent say they disapprove of the way Mr. Bush has handled his job as president over the last eight years. 

Vice President Dick Cheney also leaves office amid negative perceptions, as his approval rating stands at just 13 percent.

As Fox News trots-out the aging and increasingly inane Dick Cheney, the network fails to care that data trials exist. Data trails that place Cheney's rambles and self-serving drivel in true perspective.

Cheney just before the 2012 elections, "Obama is a terrible president", did not move voters to casting vote for Romney. The Hannity interview has other implications.  As the Bush Library was dedicated on April 25, 2013 (to open in May), the one-day politically correct drivel and oozing about Bush was disingenuous and frankly sickening.

Data Trumps Emotion And Propaganda

It only takes a few minutes to locate 2009 data indicating President Obama's economic team's success in stopping the nation's slide into an economic depression. A depression that would have proven disastrous for most of us who live in the American Middle and lower income strata.

President Obama's American Recovery and Reinvestment Act of 2009 (Stimulus) was signed into law February 17, 2009 (Q1 2009). as you view the following sets of data, it is important to keep in mind many economist felt the Stimulus should have been approved at the request $1.2 Trillion Vs. the GOP shaved $787 billion dollars. Additional Stimulus could have proven even more effective at turning around the critically ill Bush economy. (The financial and economic mess left for Obama and the democrats)

Market Commentary: October 29th, 2009: 10 am (PST). Posted by Manu Walia
“Today’s moderate increase for third quarter GDP should provide some psychological lift for consumers and businesses since it is the first positive growth for the overall economy in just over a year. And financial markets are likely to like it since it is all about expectations and the advance estimate topped expectations. Real GDP in the third quarter rebounded an annualized 3.5 percent, after declining by only 0.7 percent in the second quarter. The third quarter boost came in above the market consensus for a 3.0 percent increase.”

GDP Q3 Oct 29 2009

“Jobless claims are not offering a clear indication of what to expect for the October employment report. Initial claims held steady for a fourth straight week, edging 1,000 lower to 530,000 in an Oct. 24 week that was not skewed by special factors. The four-week average is at 526,250 and does show improvement, down about 20,000 vs. this time last month. Continuing claims, where the latest data is for the Oct. 17 week, fell substantially, down 148,000 to 5.797 million and, for the first time since April, bringing the four-week average below 6 million at 5.961 million.” 
Jobless Claims Oct 29 2009