Beige book shows economy mending - USA today

[JohnWxy]

http://www.usatoday.com/money/economy/2009-07-29-economy-on-the-mend_N.htm

By Matt Krantz, USA TODAY

Economic indicators keep saying what investors have known for months: Things are getting better.
The latest government report to reinforce a more positive view of the economy's health was the Federal Reserve's "beige book," released Wednesday, which indicated many parts of the nation are seeing economic stability. Earlier in the day, President Obama told spectators at a town hall meeting in Raleigh, N.C.,

"We may be seeing the beginning of the end of the recession."


And the July update of the USA TODAY/IHS Global Insight Economic Outlook Index predicts the economy will grow October through December, the first increase since September 2008.

"The evidence (of recovery) is building every day," says Jim Paulsen of Wells Capital Management. "It's settling and gives people more faith in what they've seen" from stock and bond markets.

The reports echo what stock prices have been predicting since March. The Standard & Poor's 500 index has soared 44% from its March 9 low, despite falling 0.5% Wednesday.
(more)
--------------------------------------------------------------------------------------------------------------------------------


Now, does this does not mean They are saying "happy days are here again."?? OF COURSE NOT. ... Something which almost anybody would know, but seems necessary to state on this forum - this does NOT mean we will have full employment by next Monday. It will take many months to rebuild and repair the damage wrought by the Republican Dystopia. But this does show that the economy is beginning to mend.

The fact that we are seeing these signs in just 6 months since Obama took over is amazing. Given the degree of the damage, I thought it would take much longer. The Deregulation Disaster - which predictably, naturally lead to the Credit Catastrophe would have produced the Great Depression II, but fortunately it looks like quick and intelligent action by Obama may have saved us from that fate. However, we are not out of the woods yet. Repairing all the damage of the Republican Dystopia will take a long time. Obama is good, damn good, but he cannot work miracles.

While economists are beginning to forecast a growing economy in Qtrs 3 and 4, it won't be until maybe the first Qtr of 2010 till we see unemployment numbers peak. Such is the magnitude of the damage of the Deregulation Disaster and the noxious environment of the Republican Dystopia.

But don't lose hope! The Democrats are in town. We have an intelligent man at the wheel (for a change) .. and most of all, we have a crew who is responsible, who wants to see this country returned to strength, honesty and integrity. We couldn't ask for a better team. (note: I did not say they were perfect. But they do feel a sense of responsibility to the voters and they want to see our country strong again (and they know how to accomplish that too). And that's a GOOD thing.

[yellowcanine]

1. But what does the blue book say? And Redbook? Beige is such a boring color, what does it know?

[BOSSHOG]

2. In a very small look at the economy

I checked out our mutual funds last night (we have four) and I check them out about three times a year. We are averaging a 24% gain since the first of the year. I wouldn't call ours an economic indicator but these same funds went through the roof in the 90's and we didn't have a losing year until last year.

[ixion]

3. yeah, right...

The same folks who didn't see a telegraphed depression coming are now saying things are getting better.

It's a fantasy world, IMO.

[notesdev]

4. Deliberately manipulate indicators

then point to those indicators as evidence of "recovery".

This game is so simple even a child could see through it.