Quote:U.S. economic growth slowed more than expected in the first quarter as higher food and gasoline prices dampened consumer spending, and sent a broad measure of inflation rising at its fastest pace in 2-1/2 years.

http://www.cnbc.com/id/42796520

Inflation rising at its highest rate in 2 1/2 years? What a coincidence.

Nothing to see here.

Off to tape Oprah, play golf, and vacation. I'm handsome, have a cool name, and have a really nice reading voice. Carry on.

Quote:NEW YORK—DOLLAR LOSES MORE GROUND
The dollar dropped after economic indicators pointed to a dismal employment picture and slowing economic growth.

First-time claims for unemployment benefits jumped 25,000 to 429,000, indicating employers might have slowed their hiring recently. Economists were expecting claims to fall to 395,000.

At the same time, gross domestic product rose at a modest 1.8% pace in the first quarter, matching economists' forecasts. However, the pace of expansion is much weaker than it was at the end of 2010, when the economy was growing at 3.1% pace.

"Overall this suggests that the U.S. economy is slowing down a bit and that could potentially weigh on the dollar going forward," said Brown Brothers Harriman strategist Mark McCormick.

http://online.wsj.com/article/SB10001424...NewsSecond

Quote:Dollar Drops to Lowest level since 2008
Stocks Fall, Dollar Weakens on GDP, Jobs Reports; Gold Advances
By Stephen Kirkland - Apr 28, 2011 8:58 AM ET

The Dollar Index, which tracks the U.S. currency against those of six major trading partners, fell for an eighth day, the longest stretch of losses since March 2009. U.S. stock-index futures fell and the Dollar Index dropped to a three-year low as reports showed the economy slowed more than forecast and jobless claims unexpectedly rose. Gold climbed to a record.

http://www.bloomberg.com/news/2011-04-28...vance.html


Hmmm. Dollar dropped to lowest level since 2008?

All these things seem to have the common thread of something else that happened in 2008. Probably just a coincidence.

Hope and Change. Hooray.

Idiots. Economic illiterates. The whole stinking mess of them.

Quote:CNBC.com
Wednesday's event marks the first regularly scheduled news conference by a Fed chairman in the central bank's 97-year history.

In his first regular news conference, Federal Reserve Chairman Ben Bernanke said the central bank was continuing its stimulus policy because it was projecting slower growth in the economy with only a modest uptick in inflation.

The Fed cut its growth estimate for 2011 to between 3.1 percent and 3.3 percent from a January forecast of 3.4 percent to 3.9 percent.
http://www.cnbc.com/id/42784201

Here is a guy who gets it. Although he fails to make the next quantitative leap of stating what the QE3 will continue to do to the dollar and inflation. Reason this whole stinking mess will continue well into His Lowness' next term over the Banana Republic.

Quote: Fed Will Make Sure Obama Wins in 2012
Published: Thursday, 28 Apr 2011 | 5:49 AM ET Text Size By: Patrick Allen

As we approach next year's presidential elections, the chances of President Barack Obama being ousted by a rival from either side of the political divide are low, according to Thanos Papasavvas, the head of currency management at Investec Asset Management.

“History is very much on the side of the incumbent President and unless we have a double-dip recession with a significant increase in unemployment I don’t believe Obama will lose 2012,” Papasavvas said in an interview with CNBC on Thursday.

“On the economic side, any signs of a deteriorating economic environment will see the Fed enacting QE3 (the third round of quantitative easing, or creating money) and hence indirectly reducing the probability of the economy derailing Obama,” Papasavvas added.

With the Republicans divided and no major rival yet to emerge, Papasavvas believes the American right wing will keep its powder dry for 2016 when four years of fiscal austerity will play into their hands.

“With no credible Republican heavyweight to face Obama, even those who have indicated their intent to run like Mitt Romney are unlikely to burn significant political or actual capital for 2012 preferring instead to wait for the 2016 election,” said Papasavvas.

Economic hits just keep coming. 2.5 years in and the crap is going south with the quickness. Hands up...who is surprised?

This dysfunctional economic policy should qualify as a high crime and misdemeanor.

Quote:NEW YORK (Reuters) - Silver soared to an all-time high on Thursday and gold rose to another record, as a falling dollar and signs that the Federal Reserve would maintain a loose monetary policy boosted precious metals' appeal as a hedge against inflation and economic uncertainty.

Silver briefly climbed to within a whisker of $50 an ounce, eclipsing the peak hit when Texan brothers William Hebert and Nelson Bunker Hunt sought to corner the silver market three decades ago. The metal later pulled back on technical selling.

"Yesterday's speech from the Fed was an acknowledgment of the continuing of the strategy by the Fed and Washington ... to monetize our debt, and basically to devalue the dollar," said Robert Lutts, chief investment officer of Cabot Money Management, which oversees more than $500 million in client assets.

"The metal markets are recognizing that and it is being priced in. What monetization means is that, down the road, we will have more inflation," he said. http://finance.yahoo.com/news/Silver-hit...et=&ccode=

Dollar index chart here...
http://futures.tradingcharts.com/chart/US/M

Note the time period between 2002 and approximately November 2008. Please send me links to your rantings about the 8 year drop in the dollar circa 2008.

Inflation data here...
http://www.usinflationcalculator.com/inf...ion-rates/

Pretty average.

Sorry to open the door in your padded cell Rath and throw in some context. Just wanted to make sure you didn't blow a gasket.

Pretty average? Holy crap. Pretty average is a lot of area codes away from where we are. Time zones from where we are heading.

Same old lberal comeback. Point to other failings and call it a solid average effort.

According to Gallop this week, 76% of registered Dems think Obama is doing a peachy job right now. I'm one of the remaining 24% and I can't for the life of me figure out how the pom pom gang can go about their day without bumping into walls with their heads shoved so far up their a$$es.

baaaaaaaaaaaaa baaaaaaaaaaaaaaa It's the democrats. We had nothing to do with it. baaaaaaaaaaaaaa baaaaaaaaaaaaaaa

You are in your mid 50's, right?

(04-28-2011 04:54 PM)rath v2.0 Wrote:  You are in your mid 50's, right?

Chronologically.

(04-28-2011 03:24 PM)AZBCAT Wrote:  Dollar index chart here...
http://futures.tradingcharts.com/chart/US/M

Note the time period between 2002 and approximately November 2008. Please send me links to your rantings about the 8 year drop in the dollar circa 2008.

Inflation data here...
http://www.usinflationcalculator.com/inf...ion-rates/

Pretty average.

Sorry to open the door in your padded cell Rath and throw in some context. Just wanted to make sure you didn't blow a gasket.

Great post.

The failed policy of monetizing the debt by printing more money contines to devalue the dollar. Which means it takes more of those increasingly devalued dollars to buy goods. Like oil.

As of today, gas is $.15 a gallon more than I ever paid in 2008 when everyone was completely freaking out and pointing fingers at the prior administration of idiots. Yep. Worse than 3+ years ago.

Where are the protests now? Where is the outrage? Where is CNN running this as the lead story every night for months? Where are the calls to tap into the strategic reserve or to suspend the federal gas tax to give some form of relief however small? Where are the democrat acusations that the middle class and the poor are being thrown under the bus by a president that refuses to fo anything to relieve the pressure?

I hear crickets chirping from the left.

What do we get? A commission to look into speculation. Probably a new czar in the works. And policies that further limit domestic production and exploration. Clowns.

The price of gas has doubled since Bobo took office and the only thing keeping it from hitting five bucks a gallon will be if if this administration's clown college policies keep the economy in the crapper forcing decreased demand.

Its about time his little-curly toed clown shoes get held to the fire for the double edged sword of devaluing the dollar by using a printing press to crank out cash while throwing up roadblocks to domestic production.

Atta' boy.



“There is no magic formula to driving gas prices down.” - Bobo the Clown.

(04-30-2011 11:02 PM)rath v2.0 Wrote:  The price of gas has doubled since Bobo took office and the only thing keeping it from hitting five bucks a gallon will be if if this administration's clown college policies keep the economy in the crapper forcing decreased demand.

Its about time his little-curly toed clown shoes get held to the fire for the double edged sword of devaluing the dollar by using a printing press to crank out cash while throwing up roadblocks to domestic production.

Atta' boy.



“There is no magic formula to driving gas prices down.” - Bobo the Clown.

So now Obama has the ability to control the worldwide price of oil? First he's incompetent and weak and now he's so powerful and omnipotent, he can single handedly control supply and demand (which would make him more powerful than God to a conservative). Make up your mind Rath.

(05-01-2011 03:23 AM)AZBCAT Wrote:  

(04-30-2011 11:02 PM)rath v2.0 Wrote:  The price of gas has doubled since Bobo took office and the only thing keeping it from hitting five bucks a gallon will be if if this administration's clown college policies keep the economy in the crapper forcing decreased demand.

Its about time his little-curly toed clown shoes get held to the fire for the double edged sword of devaluing the dollar by using a printing press to crank out cash while throwing up roadblocks to domestic production.

Atta' boy.



“There is no magic formula to driving gas prices down.” - Bobo the Clown.

So now Obama has the ability to control the worldwide price of oil? First he's incompetent and weak and now he's so powerful and omnipotent, he can single handedly control supply and demand (which would make him more powerful than God to a conservative). Make up your mind Rath.

Were Dems saying the same thing during the Bush years? NOPE. All you we heard was it's Bushs fault, he's not doing anything, bla bla bla. Well now the prices are even higher, yet I don't see any outrage.

Hypocrisy at its finest.

(05-01-2011 10:11 AM)Kenyon#4 Wrote:  

(05-01-2011 03:23 AM)AZBCAT Wrote:  

(04-30-2011 11:02 PM)rath v2.0 Wrote:  The price of gas has doubled since Bobo took office and the only thing keeping it from hitting five bucks a gallon will be if if this administration's clown college policies keep the economy in the crapper forcing decreased demand.

Its about time his little-curly toed clown shoes get held to the fire for the double edged sword of devaluing the dollar by using a printing press to crank out cash while throwing up roadblocks to domestic production.

Atta' boy.



“There is no magic formula to driving gas prices down.” - Bobo the Clown.

So now Obama has the ability to control the worldwide price of oil? First he's incompetent and weak and now he's so powerful and omnipotent, he can single handedly control supply and demand (which would make him more powerful than God to a conservative). Make up your mind Rath.

Were Dems saying the same thing during the Bush years? NOPE. All you we heard was it's Bushs fault, he's not doing anything, bla bla bla. Well now the prices are even higher, yet I don't see any outrage.

Hypocrisy at its finest.

Bush and Cheney and your big oil cronies, meet Obama and Biden and their big oil cronies.

Silence from the left is deafening. If you can ever get a liberal to shut up its amazing on its own. The fact they are quiet whe it comes to obama just shows that they realize many of his actions are indefensible.

(05-01-2011 11:56 AM)chatcat Wrote:  

(05-01-2011 10:11 AM)Kenyon#4 Wrote:  :domokun::domokun:

(05-01-2011 03:23 AM)AZBCAT Wrote:  

(04-30-2011 11:02 PM)rath v2.0 Wrote:  The price of gas has doubled since Bobo took office and the only thing keeping it from hitting five bucks a gallon will be if if this administration's clown college policies keep the economy in the crapper forcing decreased demand.

Its about time his little-curly toed clown shoes get held to the fire for the double edged sword of devaluing the dollar by using a printing press to crank out cash while throwing up roadblocks to domestic production.

Atta' boy.



“There is no magic formula to driving gas prices down.” - Bobo the Clown.

So now Obama has the ability to control the worldwide price of oil? First he's incompetent and weak and now he's so powerful and omnipotent, he can single handedly control supply and demand (which would make him more powerful than God to a conservative). Make up your mind Rath.

Were Dems saying the same thing during the Bush years? NOPE. All you we heard was it's Bushs fault, he's not doing anything, bla bla bla. Well now the prices are even higher, yet I don't see any outrage.

Hypocrisy at its finest.

Bush and Cheney and your big oil cronies, meet Obama and Biden and their big oil cronies.

(05-01-2011 03:23 AM)AZBCAT Wrote:  

(04-30-2011 11:02 PM)rath v2.0 Wrote:  

“There is no magic formula to driving gas prices down.” - Bobo the Clown.

So now Obama has the ability to control the worldwide price of oil? First he's incompetent and weak and now he's so powerful and omnipotent, he can single handedly control supply and demand (which would make him more powerful than God to a conservative). Make up your mind Rath.

I'll work under the overly kind assumption that you are just not up to speed and are not merely bootlicking to protect your Hope poster boy.

Remember what happened the very day in 2008 when prices stopped rising dramatically and began a steady daily drop over the next couple months? Bush announced he was opening up exploration and development of the US continental shelf. You probably think that was just a coincidence, don't you?

When it comes to energy markets, action (and inaction) by an administration can also work in the inverse. Bobo has sure come up with a good formula for driving prices up.

* Immediately after taking office, the Dept. of the Interior canceled 77 previously approved leases for oil and gas development. Many more than that have been nixed since then.

* Under Bobo The EPA has mandated that consumers buy 36 billion gallons of "renewable" fuels like ethanol by 2020. The refineries and production facilities are all effed up since they were not set up to use this crap product that is actually a negative sum energy savings to produce.

* Bobo banned drilling in the Gulf of Mexico in the wake of the Deepwater Horizon disaster.

* The ban has since been lifted by the courts. In defiance, only half a dozen permits have been issued despite many hundreds of pending applications collecting dust on desks of administration officials.

* So far 4 Gulf Oil Rigs have been moved out of the Gulf and to foreign waters...Why? Because the administration is dragging its feet and won't approve the permits. More are slated to be moved to Mexico for the same reason.

* Now the Energy Information Administration projects a 13 percent decline in off-shore oil production this year. An even higher drop is predicted for 2012.

* Obama has banned all offshore oil development outside the Gulf for seven years. Means no new offshore development until after this clown finishes his second term of trashing this county's economy.

* Bobo has had Salazar promulgate new rules making it onerous and costly to ever develop energy resources on federal land.

* EPA is currently slowing/stopping development of a cross-country pipeline designed to expand U.S. access to Canadian oil.

* EPA under Bobo's direction is moving forward with a cap-and-trade energy tax program that Congress rejected in 2010.

The list goes on and on...

Interesting comments... In Bobo's January 2008 interview with the San Francisco Chronicle: Under his administration, "electricity rates would necessarily skyrocket."


Energy secretary, Steven Chu, tells the Wall Street Journal that "somehow we have to figure out how to boost the price of gasoline to the levels in Europe."

With all the boken campaign promises so far, way to keep those two promises I guess.