Yeah this sequester thing really messed up the economy right? Wo knew cutting spending would actual spur the economy? Oh yeah, conservatives.
Another Obamacare success story. Thanks To Obamacare, Young Adults And Hospitals Saved $147 Million In 2011 Alone An estimated 3.1 million young Americans who would have lacked health coverage gained access to it thanks to an Obamacare provision that allows adults up to age 26 to remain on their parents’ health insurance. A new study published in the New England Journal of Medicine concludes that shift saved young people from paying — and hospitals from absorbing — $147 million in high medical bills for treating catastrophic conditions such as broken bones, poisonings, and traumatic brain injuries in 2011 alone. the Journal study
More good news! http://online.wsj.com/article/SB10001424127887323639704579014490635146188.html U.S. Jobless Claims Fall to Lowest Level Since October 2007 The number of U.S. workers seeking first-time unemployment benefits fell to its lowest level since before the recession, underscoring steady gains in the labor market. Initial jobless claims, a proxy for layoffs, decreased by 15,000 to a seasonally adjusted 320,000 in the week ended Aug. 10, the Labor Department said Thursday. The was the lowest level since October 2007, a time of financial turmoil but about two months before the formal onset of the recession. Economists surveyed by Dow Jones Newswires had forecast that 335,000 new claims would be filed last week. The unemployment rate fell to 7.4% last month.
Bloomberg is bullish as well. Seems most of the gains in hiring is starting to come from the small business sector; which is gaining more confidence in the economy.
Call me a pessimist, but a booming economy only makes me consider how far the next fall will be. Either the latest bubble will burst, or will start a long period of inflation.... or one followed by the other. People want to think the risk is gone because it's not the housing market that's bubbling. The higher education bubble is part of the issue. The land/housing bubble in China is expected to burst soon, if it hasn't already begun. Q2 earnings for US corporations reported this year are showing growth in certain sectors(though unsurprisingly concentrated in sectors like Financial, auto, etc), but then a record number of companies revised downward. They are NOT encouraging overall. Our economy still promotes frequent boom/bust cycles.
This economy isn't booming. It's better than 2009, but the recovery has to do a lot better for the next 5 years to reach back to pre-bust levels.
companies are making record profits. They are sitting on more cash than ever. Its just hiring has never really come back. We just have a lot more people working part time.
Agreed, but it has been a slow steady well managed recovery from the 2nd worst crash in modern US history and I think we hear too much constant negativity about the economy.
If anything a boom would be more frightening to hear about than a steady upsurge. You want a sustainable economy, not a flash in the pan and another crash.
Clearly it's better than it was in '09. That was the turning point that the years of ignorning a growing monster bought us. I'm sure it will continue being brushed off until out current issues are crippling as well... Matt Taibbi just published a new article on the student loan topic. A bit dramatic in the presentation, as usual, but he's on point: http://www.rollingstone.com/politic...ung-america-the-college-loan-scandal-20130815
What changes in the last 3 decades are making you feel confident in the longer term stability of the economy? We recovered from the worst crash by steadily creating new jobs, rebuilding and restructuring of the financial system, and getting a big boost of monetary income from international sources thanks to a destabilized Europe. We recovered from this one by bailing out financial institutions instead of restructuring, cutting jobs to stabilize/increase the profits of existing business in the short term instead of creating new jobs. We're only more stable now in that it isn't currently in the process of falling apart. It's reflation.
Google http://static1.businessinsider.com/...0-924/part-time-vs-full-time-employment-1.png Data is from Bloomberg
