US economic recovery is complete. pt 2

[kublikhan]

YOU DOG YOU!!!

You had TWO floppy drives!!! TWO!!!??!!?!?!?!? *RAGE*

You had a floppy disk??? A DISK!?!? RAGE!!!!

*insert tape*
*wait for 20 minutes to find program on tape*
*this is taking too long, fast forward....*
*crap, went too far, rewind....*
*wait another 20 minutes....*

Ah forget it!!!!!

[dolanbaker]

AH that brings back memories, I had a Vic20, I used my sisters old "Bay city rollers" tape to record the programs

[the48thronin]

AH that brings back memories, I had a Vic20, I used my sisters old "Bay city rollers" tape to record the programs

Vic 20 commodor 64 let me look out in the barn, that vic 20 is out there somewhere under the junk pile...LOL

HMM an afternoon playing PING

[Daniel_Plainview]

Housing Starts Plunge 5% to Three-Month Low
Tuesday, 20 Sep 2011 08:43 AM

Builders broke ground on fewer homes in August, evidence that the housing market remains depressed. The Commerce Department said Tuesday that builders began work on a seasonally adjusted 571,000 homes last month, a 5 percent decline from July and a three-month low. That's less than half the 1.2 million that economists say is consistent with healthy housing markets. Single-family homes, which represent roughly two-thirds of home construction, fell 1.4 percent. Apartment building plunged 12.4 percent. ...

[yeahbut]

The world economy has entered a "dangerous new phase," according to the chief economist of the International Monetary Fund. As a result, the international lending organisation has sharply downgraded its economic outlook for the United States and Europe through the end of next year.

The IMF expects the US economy to grow just 1.5 per cent this year and 1.8 per cent in 2012. That's down from its June forecast of 2.5 per cent in 2011 and 2.7 per cent next year.

To achieve even that still-low level of growth, the US economy would need to expand at a much faster rate in the second half of the year than its 0.7 per cent annual pace in the first six months.

linky

[The Practician]

BREAKING NEWS: ECONOMISTS REVISE GROWTH PROJECTIONS UPWARDS!...

...just kidding! we all no that's not how things work these days.

[pstarr]

...just kidding! we all no that's not how things work these days.

That's a double negative. You only had to say

...just kidding! we all no that's not how things work these days.

[prajeshbhat]

The world economy has entered a "dangerous new phase," according to the chief economist of the International Monetary Fund.

What is so new?

[Outcast_Searcher]

YOU DOG YOU!!!

You had TWO floppy drives!!! TWO!!!??!!?!?!?!? *RAGE*

You had a floppy disk??? A DISK!?!? RAGE!!!!

In my last year of high school, it was a 140 CPM remote teletype. No screen. You stuffed the actual telephone receiver into an audio coupler for the 300 BAUD modem. Paper tape was the only way to save programs. (About 8 bytes per inch storage density on thin paper strips that tore easily). Nerds carrying calculators had nothing on us. WE carried our programs on rolls of paper tape.

Punch cards (college until 1979 when we finally got a modern minicomputer) seemed like nirvana after paper tape UNTIL I dropped a large COBOL program in a mud puddle. My RAGE needed plenty of exclamation points that night as I shouted the F-word several times... We had a whopping 16K main menory on that 60's era IBM college computer, it filled a large room, ran one program at a time, and the (1 meg) hard drive platters were so slow you started writing code trying to minimize movement of the access arm, which groaned like an old man. There were many hundreds of lights. It really did look sort of like a giant WOPR computer from the "Wargames" movie.

I never DID get a tape to actually READ anything on a Commodore 64. I called it a "write-only device", though I dunno if it ever successfully WROTE anything either.

So, when floppy disks came out that actually tended to WORK RELIABLY-- it was just amazing to me.

When the first 10 meg hard PC drive came out and I could quit shuffling through LOTS of floppies several years later -- amazing again.

...

Now I want my 2 TB portable drives to cost under $100 and prefer USB-3 support, and my 16 GB jump drives to cost under $20 AND be relatively fast. How quickly we become spoiled.

[peripato]

PROGNOSIS for STIMULUS 3


August
Zero jobs growth => check!
Zero retail sales growth => check!

Benny Boy itching to do "something" => check!

Got Gold?

[TheAntiDoomer]

Existing US Home Sales Jumped 7.7 Percent in August, Well Above Expectations (Story Developing)

[OilFinder2]

Told ya #1.

EDIT: Looks like DP is getting frustrated the price of his shiny yellow metal didn't rise today.
Good news of the day #4A: Southern California Home Sales Rise for First Time in 14 Months

A total of 19,654 houses and condominiums sold last month in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties, an increase of 6 percent from a year earlier and 8.6 percent from July, the data company said today in a statement. It was the first year-over-year sales advance since June 2010, with all six counties showing gains.

Good news of the day #4B: Inventories of distressed housing in Phoenix beginning to fall

Three months ago I wrote Signs of a Phoenix Housing Recovery Good for Homebuilders, which presented evidence that a Phoenix, Aris., housing recovery would start next year. Data flow over the last three months continues to confirm this forecast. This has made us look more closely at a possible Phoenix “end game.” The “end game” is the specific sequence of events that should occur as the Phoenix market transitions from distress into recovery. The transition should not be a gradual change but events should occur very rapidly and in a particular sequence. We think this is important for investors to know.

Good news of the day #4C: Las Vegas home resales surge in August

Numbers released late Wednesday by the Greater Las Vegas Association of Realtors showed record sales of condominiums and townhomes in August. The month also brought the second-best month ever for overall existing-home sales, the group said.

Taken together, sales of single-family and attached homes totaled 4,693 units, just nine sales short of the June 2009 record.

[OilFinder2]

Told ya #2.

More on this from an article on MSNBC:

Housing market may be making a comeback
Interesting comment from a reader:

I am a real estate agent in Las Vegas/Henderson Nevada. Although housing prices have decreased here over the last few years right now we have an explosion of buyers and are seeing multiple offers on most decent properties. I have ALL CASH buyers who recently went $25K above list price on a house and did not get it. CNN Money rated Las Vegas as the #1 place to buy rental property and since then the market has taken off. We are 45% undervalued and investors are taking advantage of the low prices with many investment groups coming in and buying 100+ plus homes at a time. 52% of our homes sell for all cash and we have as many homes in escrow as we have on the market.

[OilFinder2]

Oh yeah, and one other piece of good economic news today. As I just reported here, US domestic oil production last week exceeded 5.7 million bpd. This is the first time it has done it since the first week of February, 2004.

[Armageddon]

Existing US Home Sales Jumped 7.7 Percent in August, Well Above Expectations (Story Developing)

People are buying up repo's dirt cheap. This is good news now ? It's driving down home prices even more. Existing sales do NOTHING for the economy, especially repo's.

[Ferretlover]

Anybody using new homes or existing home sales to try to prove the economy is currently getting better is one dumb idiot.

[OilFinder2]

People are buying up repo's dirt cheap. This is good news now ? It's driving down home prices even more. Existing sales do NOTHING for the economy, especially repo's.

Yes, it IS good news for the economy in the longer term because the more distressed properties that can be cleared off the market, the sooner the housing market can get back to something resembling normal. Also, a lot of these distressed property purchases are probably investors buying foreclosures and then renting them back to the original owners. This is good for the economy because it frees the original owers from the burden of living in a house whose current value is less than the purchase price. At some point most of the distressed properties will be cleared off the market, and prices will then stop falling. Read my earlier link on the Phoenix market to find out why this is so.

[Ferretlover]

Anybody using new homes or existing home sales to try to prove the economy is currently getting better is one dumb idiot.

Anybody who keeps predicting economic Armageddons which never occur is one dumb idiot.

[Ferretlover]

Anybody using new homes or existing home sales to try to prove the economy is currently getting better is one dumb idiot.

Anybody who keeps predicting economic Armageddons which never occur is one dumb idiot.

You would have to be a dumb not to see it. Also, anybody who doesn't belive in PO is an even bigger dumb **** or a shill. Or both.

[Ferretlover]

The dumb **** are those who refuse to learn from their incessantly wrong predictions of Armageddon.

Where did I say oil production would never peak? Nowhere. I just think it will be farther in the future than the doomers here believe, and that when it does happen, it won't be a big deal.