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Let the good times roll -- 146,000 new jobs added

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  • #46
    Originally posted by KrazyHorse
    Together with double deficits (current account and budget) approaching 5% of GDP you'd think that even DanS would have some doubts in the back of his mind...
    The federal deficit is plummeting. I didn't enjoy the ride, but this fiscal year, the deficit will be less than 3% of the economy.
    I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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    • #47
      imports and producer prices also were negative for the month of june.
      "Everything for the State, nothing against the State, nothing outside the State" - Benito Mussolini

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      • #48
        yes youre right, at this pace, the CBO estimates the deficit spending will end in 2011
        "Everything for the State, nothing against the State, nothing outside the State" - Benito Mussolini

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        • #49
          As discussed in previous threads, the CBO forecasts have limited utility.
          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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          • #50
            meanwhile, the debt held by the public will stay pretty much constant around 37 - 38% as a percentage of GDP until 2010.
            "Everything for the State, nothing against the State, nothing outside the State" - Benito Mussolini

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            • #51
              and youre also right - the idiot bushs republican successor (ya know, the party of fiscal responsibility) might increase deficit spending because now they know they can get away with it because a) people dont care and b) the people who do are yes - men who would say anything to please the mastah.
              "Everything for the State, nothing against the State, nothing outside the State" - Benito Mussolini

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              • #52
                the idiot bushs republican successor
                I would thank God if it's a Republican successor. We shall see.

                Note for the record that I wasn't the one to bring politics into this discussion.
                I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                • #53
                  Originally posted by Colon


                  While I'm not supporting Dan's rosy views: CPI did went negative in april to may. That's not really a condition for stagflation.
                  I know it's not technically stagflation. At least not yet.

                  But For an economy with the level of inflation we're seeing right now, the US is not growing all that quickly.
                  12-17-10 Mohamed Bouazizi NEVER FORGET
                  Stadtluft Macht Frei
                  Killing it is the new killing it
                  Ultima Ratio Regum

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                  • #54
                    The US isn't growing all that quickly. At the same time, the US isn't growing all that slowly either. Certainly faster than most first world economies, even on a per capita basis.
                    I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                    Comment

                    • #55
                      Originally posted by KrazyHorse


                      I know it's not technically stagflation. At least not yet.

                      But For an economy with the level of inflation we're seeing right now, the US is not growing all that quickly.
                      Capacity utilisation is still below the average of the past 3 decades and money supply growth is tepid, so I'm not so sure if there's all that much risk on the upside.
                      DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

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                      • #56
                        Sorry for hijacking the thread Dan, but I can't be arsed to start a new thread about it.

                        I just came across something interesting, namely the Japanese CPI data are adjusted for quality improvements. That's not so shocking on its own, since the same is the case with US CPI data, but it does get interesting if you consider that Japanese purchases on electronics are (substantially?) higher than European or American. At least I assume they are. And electronics tend to improve a lot in quality, even if the actual purchasing costs remain the same.
                        So this makes me wonder how real Japanese deflation really is.
                        DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

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                        • #57
                          As I recall, those changes in the Japanese CPI are recent?
                          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                          • #58
                            Where are all these new jobs being created?

                            (IOW where can one get data by state)
                            meet the new boss, same as the old boss

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                            • #59
                              Access Denied
                              http://www.bls.gov/data/home.htm


                              Go down to "Create Customized Tables (One Screen)" at "Employment, Hours, and Earnings from the Current Employment Statistics survey (State and Metro Area)"

                              Out of the 50 states in May (the latest available), 34 gained jobs and 16 lost jobs. Arkansas was one of the states that lost jobs. This year through May, Arkansas has averaged about 760 new jobs a month, I guess about half the national average by population. June was a better month than May, so fewer states will have lost jobs during the month.
                              Last edited by DanS; July 11, 2005, 16:12.
                              I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                              Comment

                              • #60
                                Originally posted by DanS
                                As I recall, those changes in the Japanese CPI are recent?
                                I don't know.
                                DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

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