US budget chief says signs of economic free-fall over

[clenz]

WASHINGTON (Reuters) - The Obama administration's budget chief said on Sunday there are signs that the free-fall in the economy seems to have halted.

"There are some glimmers of sun shining through the trees, but we're not out of the woods yet," White House budget director Peter Orszag said on CNN's State of the Union.

U.S. economic data have shown evidence that the recession's worst phase may be over, with April consumer prices unchanged and industrial output declining at a slower pace than in March.

Federal Reserve Chairman Ben Bernanke has also suggested that the recession should end this year as long as there is no reemergence of the credit crunch.

Orszag said as the economy starts to recover the deficit will come down quickly. The White House recently forecast a higher budget deficit of $1.84 trillion, or 12.9 percent of gross domestic product, for the fiscal year ending September 30.

"The economy remains weak (so) we will continue to have these elevated deficits so, again, we're going to have more to say about this in a couple of months," Orszag said.

http://www.reuters.com/article/topNews/ ... 7120090518

[AZGrizFan]

BS. Pure BS. Trying to paint a picture that just ain't there.

[griz37]

BS. Pure BS. Trying to paint a picture that just ain't there.

What do you want them to say? If they say there is no sign of hope in the near future people will tighten up even more & things will continue to get worse.

[Wedgebuster]

McCain still lost, not only that, he got his ass kicked in a national election by a negro. No amount of bad news is going to put whistledick McCain and cavern cunt Palin in the White House.

Back to the pure B.S. America haters, don't let me rain on your insurrection.

[Appaholic]

BS. Pure BS. Trying to paint a picture that just ain't there.

Don't you have some sub-primes to bundle and sell off?

[CID1990]

This is called a 'sucker rebound.'

China and the U.S. both are experiencing it, and it is not going to last. We haven't even seen the tip of the iceberg yet. The stage was set for this in the 1990s, and the fault lies on both sides of the aisle. Watch for China to start selling some debt to try to prop up their export industries when Americans stop buying their rubber dog shit because of tight times. When that happens there is going to be a vicious economic tug of war going on.

Picture two cats, tied toegther by the tails, strung over a clothesline.

[AZGrizFan]

McCain still lost, not only that, he got his ass kicked in a national election by a negro. No amount of bad news is going to put whistledick McCain and cavern cunt Palin in the White House.

Back to the pure B.S. America haters, don't let me rain on your insurrection.

You're the only one trying to make this about politics. I'm just a fan of the TRUTH.

And the TRUTH is, the economic free fall is NOT over. We have NOT found the bottom. And for every sign of "recovery", there's three signs that the shit has yet to hit the fan completely. You sheeple that bought into Obama's snake oil routine can feel free to believe THIS drivel as well. Those of us on the front lines know the truth.

[D1B]

McCain still lost, not only that, he got his ass kicked in a national election by a negro. No amount of bad news is going to put whistledick McCain and cavern cunt Palin in the White House.

Back to the pure B.S. America haters, don't let me rain on your insurrection.

You're the only one trying to make this about politics. I'm just a fan of the TRUTH.

And the TRUTH is, the economic free fall is NOT over. We have NOT found the bottom. And for every sign of "recovery", there's three signs that the shit has yet to hit the fan completely. You sheeple that bought into Obama's snake oil routine can feel free to believe THIS drivel as well. Those of us on the front lines know the truth.

Then post some facts, asshole. All I see from you is your annoying anti obama boilerplate.

Methinks you are a closet racist. No other explanation for a father being so obsessed with a black man in such a destructive and violent manner. Be part of the solution, for your children.

[AZGrizFan]

You're the only one trying to make this about politics. I'm just a fan of the TRUTH.

And the TRUTH is, the economic free fall is NOT over. We have NOT found the bottom. And for every sign of "recovery", there's three signs that the shit has yet to hit the fan completely. You sheeple that bought into Obama's snake oil routine can feel free to believe THIS drivel as well. Those of us on the front lines know the truth.

Then post some facts, asshole. All I see from you is your annoying anti obama boilerplate.

Methinks you are a closet racist. No other explanation for a father being so obsessed with a black man in such a destructive and violent manner. Be part of the solution, for your children.

I'd post facts, but you'd never read them. You've proven THAT over and over. And I AM trying to be part of the solution, by ensuring we are only saddled with ONE term of the communist.

[Cleets Part 2]

And I AM trying to be part of the solution, by ensuring we are only saddled with ONE term of the communist.

Communist..?
He (Like Bush) is a socialist not a communist...

[AZGrizFan]

And I AM trying to be part of the solution, by ensuring we are only saddled with ONE term of the communist.

Communist..?
He (Like Bush) is a socialist not a communist...

Being "like Bush" doesn't make it right, Cleets.

[Cleets Part 2]

Communist..?
He (Like Bush) is a socialist not a communist...

Being "like Bush" doesn't make it right, Cleets.

Agreed..!!!!

[AZGrizFan]

Just for D1B, here's some "stats" to refute their claim that the economic free-fall is showing signs of being "over". I'm not sure what "signs" they're looking at, but it sure ain't THESE:

Here's two articles on foreclosure rates:

http://www.cbsnews.com/stories/2009/03/ ... S._4861033

http://www.foxbusiness.com/story/market ... rd-levels/

Here's one on recent bankruptcy rates:

http://articles.moneycentral.msn.com/Ba ... Again.aspx

Here's one on builder's home starts in recent months:

http://www.sellingtucsonrealestate.com/ ... -new-lows/

Here's one about unemployment rates, and the fact that they've INCREASED in 46 states:

http://online.wsj.com/article/SB123998769476529637.html

Here's a graph of CPI which shows 4 straight months of increases:



Here's a bone for ya, D: Inflation rates are low....surprise, surprise.....no demand, no price spiraling:
http://inflationdata.com/inflation/Infl ... lation.asp

Ah, who the fuck am I kidding, D? You won't read any of these, will you?

[Appaholic]

Just for D1B, here's some "stats" to refute their claim that the economic free-fall is showing signs of being "over". I'm not sure what "signs" they're looking at, but it sure ain't THESE:

Here's two articles on foreclosure rates:

http://www.cbsnews.com/stories/2009/03/ ... S._4861033

http://www.foxbusiness.com/story/market ... rd-levels/

Here's one on recent bankruptcy rates:

http://articles.moneycentral.msn.com/Ba ... Again.aspx

Here's one on builder's home starts in recent months:

http://www.sellingtucsonrealestate.com/ ... -new-lows/

Here's one about unemployment rates, and the fact that they've INCREASED in 46 states:

http://online.wsj.com/article/SB123998769476529637.html

Here's a graph of CPI which shows 4 straight months of increases:



Here's a bone for ya, D: Inflation rates are low....surprise, surprise.....no demand, no price spiraling:
http://inflationdata.com/inflation/Infl ... lation.asp

Ah, who the **** am I kidding, D? You won't read any of these, will you?

But Z....it just feels like things are getting better.......like the feeling one gets when Obama smiles at you.....just all warm and ohhhhhh.........

[AZGrizFan]

But Z....it just feels like things are getting better.......like the feeling one gets when Obama smiles at you.....just all warm and ohhhhhh.........

I did get that feeling when I listened to the Chosen One at ASU....then I realized I'd pissed my pants.

Same difference.

[D1B]

Just for D1B, here's some "stats" to refute their claim that the economic free-fall is showing signs of being "over". I'm not sure what "signs" they're looking at, but it sure ain't THESE:

Here's two articles on foreclosure rates:

http://www.cbsnews.com/stories/2009/03/ ... S._4861033

http://www.foxbusiness.com/story/market ... rd-levels/

Here's one on recent bankruptcy rates:

http://articles.moneycentral.msn.com/Ba ... Again.aspx

Here's one on builder's home starts in recent months:

http://www.sellingtucsonrealestate.com/ ... -new-lows/

Here's one about unemployment rates, and the fact that they've INCREASED in 46 states:

http://online.wsj.com/article/SB123998769476529637.html

Here's a graph of CPI which shows 4 straight months of increases:



Here's a bone for ya, D: Inflation rates are low....surprise, surprise.....no demand, no price spiraling:
http://inflationdata.com/inflation/Infl ... lation.asp

Ah, who the fuck am I kidding, D? You won't read any of these, will you?

No-can-read-Kimosabe! Why are you so wanting of my approval?

[Cleets Part 2]

I did get that feeling when I listened to the Chosen One at ASU....then I realized I'd pissed my pants.
Same difference.

AZGF...
You know they have adult diapers for that -

[AZGrizFan]

I did get that feeling when I listened to the Chosen One at ASU....then I realized I'd pissed my pants.
Same difference.

AZGF...
You know they have adult diapers for that -

Yes. I have the Griz Goddess looking into that solution.

[AZGrizFan]

No-can-read-Kimosabe! Why are you so wanting of my approval?

You've proven that time and time again, Ted. How are you writing that manifesto if you can't read? Or are you dictating it to cappy?

[Appaholic]

But Z....it just feels like things are getting better.......like the feeling one gets when Obama smiles at you.....just all warm and ohhhhhh.........

I did get that feeling when I listened to the Chosen One at ASU....then I realized I'd pissed my pants.

Same difference.

Happens to the best of us......

[Wedgebuster]

Personally, I feel I am headed into the greatest times of economic prosperity in my lifetime thus far. I know that sounds selfish and greedy, but you know every dog has his day. And since I AM a Republican, I know I will also be more happy about this impending prosperity, so I do have that going for me.

As you were!

[Cleets Part 2]

Personally, I feel I am headed into the greatest times of economic prosperity in my lifetime thus far. I know that sounds selfish and greedy, but you know every dog has his day. And since I AM a Republican, I know I will also be more happy about this impending prosperity, so I do have that going for me.

As you were!

Me too..!!!
Minus the Republican thing

Economy Shmee shmonomee - Who cares...

The girlfriends is raking it in hand over fist at Microsoft
I've been stealing money from my employer for like three years now (it's crazy man)

We're both seriously considering quitting our jobs and going to school in Italy together for the next 4 years - she wants to get her doctorate in U X and I'm up for a grant on some photonics research - together we could have a little one bedroom place in Rome and live the good life for a few years...

Seriously..!!! It's an amazing life (I'm pinching myself right now)

[Wedgebuster]

Personally, I feel I am headed into the greatest times of economic prosperity in my lifetime thus far. I know that sounds selfish and greedy, but you know every dog has his day. And since I AM a Republican, I know I will also be more happy about this impending prosperity, so I do have that going for me.

As you were!

Me too..!!!
Minus the Republican thing

Economy Shmee shmonomee - Who cares...

The girlfriends is raking it in hand over fist at Microsoft
I've been stealing money from my employer for like three years now (it's crazy man)

We're both seriously considering quitting our jobs and going to school in Italy together for the next 4 years - she wants to get her doctorate in U X and I'm up for a grant on some photonics research - together we could have a little one bedroom place in Rome and live the good life for a few years...

Seriously..!!! It's an amazing life (I'm pinching myself right now)

TotallY!!!

[AZGrizFan]

Personally, I feel I am headed into the greatest times of economic prosperity in my lifetime thus far. I know that sounds selfish and greedy, but you know every dog has his day. And since I AM a Republican, I know I will also be more happy about this impending prosperity, so I do have that going for me.

As you were!

Wedgie, you slay me.

[travelinman67]

Just for D1B, here's some "stats" to refute their claim that the economic free-fall is showing signs of being "over". I'm not sure what "signs" they're looking at, but it sure ain't THESE:

Here's two articles on foreclosure rates:

http://www.cbsnews.com/stories/2009/03/ ... S._4861033

http://www.foxbusiness.com/story/market ... rd-levels/

Here's one on recent bankruptcy rates:

http://articles.moneycentral.msn.com/Ba ... Again.aspx

Here's one on builder's home starts in recent months:

http://www.sellingtucsonrealestate.com/ ... -new-lows/

Here's one about unemployment rates, and the fact that they've INCREASED in 46 states:

http://online.wsj.com/article/SB123998769476529637.html

Here's a graph of CPI which shows 4 straight months of increases:



Here's a bone for ya, D: Inflation rates are low....surprise, surprise.....no demand, no price spiraling:
http://inflationdata.com/inflation/Infl ... lation.asp

Ah, who the fuck am I kidding, D? You won't read any of these, will you?

Spot on, AZ.

Spent the past week dealing with people in two separate "estate" disputes...listening to everyone's bitching, pissing and moaning (mostly about devalued real estate values and abyssmal investment values), and looking for common ground solutions. After a week of studying economic conditions and attempting to place a timeline on recovery, as far as CA goes (and like it or not, CA leads the nation in change), I honestly do not see any light at the end of the tunnel until leaders in government and industry step up and put an end to the tort abuse and technocrat leeches who are sucking America's industry dry.
I'm sure there are many examples of how govt. is wasting our tax dollars via the faux-stimulus handouts, but one example is taking place right down the road from my house...on a section of half-block long sidewalk bordered by two multi-block sections of road with no sidewalk (aka a "sidewalk-to-nowhere"), the county has come out, ripped up about half the "older" sections of sidewalk-to-nowhere that had some cracking, and are re-pouring the sidewalk...even though it benefits NOBODY!!!!
The stimulus has been a HUGE WASTE OF TIME AND MONEY that has only delayed implementation of changes necessary to get our economy back on track...

...first and foremost of which is ENERGY INDEPENDENCE.

TODAY.

NOT WHEN GREEN TECHNOLOGY BECOMES AVAILABLE.

NOT WHEN CLEAN COAL TECHNOLOGY BECOMES COST EFFECTIVE.

DRILL AND GET THE U.S. BASED OIL FLOWING TODAY.

BITCH SLAP BROWNER AND SALAZAR BACK INTO THE BUNG HOLES THEY CRAWLED OUT OF.

FORCE ALL GOVT. AGENCIES TO LAY OFF 40% OF ALL WORKERS BY YEAR END.

PROVIDE A SIGNIFICANT TAX BREAK FOR EVERY EMPLOYER WHO ANNUALLY CREATES 10% OR HIGHER NEW JOBS TO THEIR WORKFORCE.

FORCE ALL LENDERS TO FREEZE FORECLOSURES/REPOSSESSIONS/COLLECTION LIENS FOR THE NEXT 6 MONTHS.

SEND HENRY WAXMAN ON A MULTI-YEAR GOODWILL MISSION TO MAURITANIA, THEN DESTROY ALL RECORDS OF HIS "CAP AND TAX" SCHEME WHILE HE'S GONE.


And last on my list of "to-do's"...tell folks who say, "Jeez, I'm making money hand over fist, doesn't bother me that other losers are having hard times." to shut the fuck up. They bring nothing to the table, provide no solutions, and waste otherwise usable breathing air.