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Notice which manufacturer is way ahead of the other government bailed out companies. All the advantages given to GM and Chrysler and STILL Ford is kicking their butts.
While you were busy screaming "Socialism" and other daily rituals, Obama was saving American jobs, something you seem to despise.
However will you continue to cheer on the demise of America with all this good news?
The stock market is going up because conditions for the companies listed on the stock market are improving. What causes those conditions is a moot point. I also hear from many people, especially many of my aquaintances that are business owners, that business is getting better. Every single one has told me recently that business is good or at least improving. A few of them are so busy that they've had to hire people. This is a good thing. Positive, improving, getting better....get it?
A significant factor in the stock market rise beginning in September was anticipation that the Pelosi/Ried/Obama anti-prosperity job-killing machine was going to be knocked off the tracks. In recent days, fears of massive action by Congress in a last gasp effort to pass more of the progressive agenda have faded since it looks like this lame duck session is having a hard time finding its @ss with both hands.
We have been buying more stuff, making more stuff, shipping more stuff, paying down our debts and saving more month by month for over a year. The economy IS growing slowly, and will do so until it picks up speed. Fortumately, this may be happening now.
Yup, things are getting better. Some people only see the bad side of everything.
...and some people believe everything they read in the major media and ignore the reality of what is going on around them that is a complete contradiction of what they read.
The media reports "economic growth" whenever there is spending and our debt load increases. How is spending money people don't have and increasing their debt "good" for the economy? Have you believed all the "good" economic news from Ben Bernanke, the Fed Chairman over the years? First he said when the housing bubble started, there was no housing bubble and it wouldn't get worse. Next he said he wouldn't monetize our debt. Then what did he do? He monetized the debt.http://www.youtube.com/watch?v=VORBTZ2kVik His latest lie is there isn't enough inflation. We need more inflation. Do you believe that too?
I expect the economy to get much worse in the coming months as Republicans continue to try to bring the economy down. The single biggest issue is retail sales are going to take a big drop as millions of people get kicked off of unemployment by the Republicans yet are unable to find any meaningful work.
What jobs have Obama saved? The auto industries were bailed out by Bush, while you sat here shouting "Obama, Obama"
The auto bailout was a loan passed in the Bush lame duck admin, and pushed by Obama.
The bank bailout was pushed by Bush.
Both have worked as intended, more or less, which is pretty cool.
Right now, I think we're experiencing a retail upswing because of the stimulus spending.
Last year, the money wasn't getting spent fast (by the government) so it wasn't in the economy, and credit was contracting. 2008 was the first bad year - and I don't think people really understood what was happening.
I don't think we're having a strong recovery, at all. I think a lot of the good numbers are due to two things - stimulus money keeping people employed, and a devalued dollar that causes prices for imports to rise. Xmas time is when we buy imports like toys. There are fewer "super cheap" things out there compared to past years.
@emilybh - The Bernanke line about inflation is just a way for him to say he's afraid of deflation creeping up on us in 2012.
My county( Se Pa) saw its unemployment rate increase 0.2% to 9.4% for October.
As for cars I've been thinking about buying a second car. I've seen used car prices drop and many aren't selling. With generous incentives to buy new cars I can see where that's hurting used car dealers and private sellers. Real estate prices are still dropping, too. And foreclusures are still going up.
We're talking about a recovering economy and the need to extend unemployment benefits again. So does the economic improvement extend beyond Holiday spending( credit cards), bank bailouts and stock speculation?
The stock market has been in a recoery but jobs have not. basically when you cut cost on the 70% of cost in labor it works is all this shows. Of course it doesn;t hurt that the fedral governamnt is providing the liquaidity by borrowing 40 cents of evry dollar they are using to do so. That eans we are dealying the cost with interest. unlikely companies facing higher taxes and reduced governamnt spending are going to invest in alot mroe empyeees and the cost.
While the usual right wing blowhards are employing every bit of hyperbole they can muster to tell you about the end of the world, the economy has been improving and we've got good news coming in from all over the place.
Stocks rise sharply on signs of economic growth - Yahoo! Finance (http://finance.yahoo.com/news/Stocks-rise-sharply-on-signs-apf-3761778494.html?x=0 - broken link)
All while automakers report double digit increases in sales:
US automakers report double-digit sales increases as consumer confidence grows - Yahoo! Canada News (http://ca.news.yahoo.com/s/capress/101201/business/us_auto_sales_10 - broken link)
Be patient. The stock market is a reflection of the economy and the "recovery" has come way too far. I got out of the market about a year ago after the rally to that point. Call me a fool, but I have usually been right on these issues. I really do not see the individual investor coming back in strength anytime soon. The rally in the market has been mostly among institutions and represents a movement of money from bonds to stocks.
Regarding increased auto sales- GREAT! hopefully it can continue. Unemployment and the economy is still terrible and perhaps when Obama is out of office in two years the next president will have buisness sense and experience and will be able to restore prosperity.
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