Yes, that makes perfect economic sense :liar: As you mentioned, the Bureau of Labor Statistics shows more job openings last year since 2001. Those are job openings and not positions filled. During the housing boom 2002-2006 there were less job openings. So in what way are job openings a sign of improvement? The same Bureau of Labor Statistics also shows the labor participation rate falling during the same 14 year period, and falling faster from 2008 to 2014. Last year marked the lowest percent of the population with employment in 36 years. A bunch of new job openings, yet the percentage of the population working is declining? I’m not going to argue how much of it is from discouraged workers or demographic changes and other variables, the point is that a shrinking portion of the population working is not a positive indicator. But what do you mean things aren’t improving?, just look at all the job openings
Reuters just came out with data today showing that home ownership has fallen to a 20-year low…in spite of mortgage rates near all-time lows. That’s okay ba, all those job positions people aren’t filling will turn that around in a jiffy
Another sign of economic strength: There are more businesses closing in America than starting.
More signs of a strong outlook: 1 in 5 children are dependent on food stamps. 2 in 5 Americans said they either could not or probably could not come up with $2,000 in cash if they had a month to do so. They are one paycheck away from financial ruin.
“Ownership rates of housing and businesses fell substantially between 2010 and 2013”… “all but the highest quintile saw declines in median income between 2010 and 2013, with second and third quintiles seeing the largest declines (7 percent and 6 percent, respectively)”…" Those in the lowest usual income quintile saw small decreases in median net worth (12 percent, from $7,300 to $6,400), but they also saw the largest proportional decrease in mean net worth (21 percent, from $81,800 to $64,600). Households in the second and third quintile of usual income saw large declines in median net worth (10 percent and 17 percent, respectively)" And that’s coming from the FED itself http://www.federalreserve.gov/pubs/bulletin/2014/pdf/scf14.pdf
Indicators of the “recovery” after inflation: Job wages, mostly flat. Overall spending on consumer products, mostly flat. Revenues for many businesses, mostly flat (that’s revenue, not profit. Some with flat revenues have managed earning increases by stretching margins, stock buy-backs, and downsizing) .
Janet Yellen won’t say when she’ll raise rates, but that’s ok, she said the U.S. economy is showing strong growth :liar: Let’s take a closer look at that strong growth:
After several years of “recovery”, only 65 of the nation’s 3,069 counties have met or surpassed pre-recession levels in four measured categories: jobs, unemployment rate, economic output and home prices. The recovered counties are largely located in energy-rich areas and have small populations. Of the 65 recovered counties, 24 are in Texas and 16 are in North Dakota. http://blogs.wsj.com/economics/2015/01/12/of-more-than-3000-u-s-counties-just-65-have-recovered-from-recession-naco-says/
Now that oil has tanked those places will be the most adversely affected. But that’s ok ba, At least those laid off workers will have lots of job positions to choose from :discodance:
Nobody really knows what the effects will be if oil service companies start defaulting on their loans in significant numbers, but it might not be pretty. Not to mention the effects of potential credit default swaps tied to energy companies and $100 oil.
But job openings are high and the economy is looking stronger than ever
It’s not surprising HH would make such an ignorant post, but it’s shocking a successful businessman like Elegua would concur. I guess basic economic understanding isn’t a prerequisite for financial success :bravo:
Sorry for the mud slinging. I’ll wait for a rebuttal consisting of misquotes and off-topic quotes from other threads