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conjur

No Lifer
Jun 7, 2001
58,686
3
0
Originally posted by: dmcowen674
Originally posted by: conjur
Ain't looking good anymore.

Real wages down 0.7%Rents up 0.6%
Core CPI up 0.3%

http://www.marketwatch.com/News/Story/S...07%2DDF205AFC7C29%7D&siteid=mktw&dist=
I haven't seen the Repubs swearing wages are up lately.

I'm sure they will say wages are up before the Elections again though.
They can say what the want but the underlying fundamentals tell the truth:

Updated June 12, 2006 | EPI Policy Memorandum

What's wrong with the economy?
http://www.epi.org/content.cfm/pm110
1. Profits are up, but the wages and incomes of average Americans are down.

* Inflation-adjusted hourly and weekly wages are below where they were at the start of the recovery in November 2001. Yet, productivity?the growth of the economic pie?is up by 14.7%.1 (Figure A)
* Wage growth has been shortchanged because 46% of the growth of total income in the corporate sector has been distributed as corporate profits, far more than the 20% in previous periods.2
* Consequently, median household income (inflation-adjusted) has fallen five years in a row and was 4% lower in 2004 than in 1999, falling from $46,129 to $44,389.3


2. More and more people are deeper and deeper in debt.

* The indebtedness of U.S. households, after adjusting for inflation, has risen 42.0% over the last five years. 4
* The level of debt as a percent of after-tax income is the highest ever measured in our history. Mortgage and consumer debt is now 120% of after-tax income, more than twice the level of 30 years ago.5
* The debt-service ratio (the percent of after-tax income that goes to pay off debts) is at an all-time high of 13.9%.6
* The personal savings rate is negative for the first time since the Depression.7

3. Job creation has not kept up with population growth, and the employment rate has fallen sharply.

* The United States has only 1.9% more jobs today than in March 2001 (the start of the last recession). Private sector jobs are up only 1.5%. At this stage of previous business cycles, jobs had grown by an average of 8.8% and never less than 6.0%.8
* The unemployment rate is relatively low at 4.6%. But the percent of the population that has a job has never recovered since the recession and is still 1.3% lower than in March 2001. If the employment rate had returned to pre-recession levels, almost 4 million more people would be employed.9
* More than 3 million manufacturing jobs have been lost since 2000.10

4. Poverty is on the rise.

* The poverty rate rose from 11.3% in 2000 to 12.7% in 2004.11
* The number of people living in poverty has increased by 5.4 million since 2000.12
* More children are living in poverty: the child poverty rate increased from 16.2% in 2000 to 17.8% in 2004.13

5. Rising health care costs are eroding families' already declining income.

* Households are spending more on health care. Family health costs rose 43-45% for married couples with children, single mothers, and young singles from 2000 to 2003.14
* Employers are cutting back on health insurance. Last year, the percent of people with employer-provided health insurance fell for the fourth year in a row. Nearly 3.7 million fewer people had employer-provided insurance in 2004 than in 2000. Taking population growth into account, 11 million more people would have had employer-provided health insurance in 2004 if the coverage rate had remained at the 2000 level.15
 

conjur

No Lifer
Jun 7, 2001
58,686
3
0
400 pt. loss in the last 3 days.

Near today's close:
DJIA 10,752.40 -93.89 -0.87%
Nasdaq 2,041.52 -12.59 -0.61%
S&P 500 1,237.22 -5.07 -0.41%
Dow Util 417.97 +0.64 +0.15%
NYSE 7,952.73 -39.12 -0.49%
AMEX 1,897.83 -2.05 -0.11%
Russell 2000 683.79 -3.50 -0.51%
Semcond 409.47 -1.56 -0.38%
Gold future 668.00 +13.60 +2.08%
30-Year Bond 5.11% -0.00 -0.08%
10-Year Bond 5.06% -0.01 -0.24%
 

Lazy8s

Golden Member
Jun 23, 2004
1,503
0
0
Originally posted by: conjur
400 pt. loss in the last 3 days.

Near today's close:
DJIA 10,752.40 -93.89 -0.87%
Nasdaq 2,041.52 -12.59 -0.61%
S&P 500 1,237.22 -5.07 -0.41%
Dow Util 417.97 +0.64 +0.15%
NYSE 7,952.73 -39.12 -0.49%
AMEX 1,897.83 -2.05 -0.11%
Russell 2000 683.79 -3.50 -0.51%
Semcond 409.47 -1.56 -0.38%
Gold future 668.00 +13.60 +2.08%
30-Year Bond 5.11% -0.00 -0.08%
10-Year Bond 5.06% -0.01 -0.24%


Uh oh better pull out now so I can buy your stock cheap.
 

dullard

Elite Member
May 21, 2001
25,126
3,514
126
Originally posted by: conjur
400 pt. loss in the last 3 days.
I think the Nasdaq touched 14 month lows today. Never before has a thread title been so accurate.

 

AliasX

Senior member
Jan 29, 2006
508
0
0
I cannot accept that the stock market is doing well. I must think of something to prove this wrong or my conspiracy theory will be incomplete.
 

conjur

No Lifer
Jun 7, 2001
58,686
3
0
Well, the market *isn't * doing well. The daily charts show ever decreasing peaks. And, the Fed attempt at Pump and Dump in the last few days has come and gone and the NASDAQ has already given up Wednesday's gains and a lot more and is close busting below 2,000. The DJIA has given up almost 3/4 of its Wed. gain.

Some people up here are under the false assumption that we have free markets and that lots of little investors are what makes the markets go up and down. If only that were the case