New data brighten outlook for economy

[TomCADem]

Source: Associated Press

WASHINGTON — The economy may have a long way to go, but at least two big threats are fading.

Economists are less worried that the U.S. will experience another round of mass layoffs and its first bout of deflation since the 1930s after the release of two government reports Thursday.

The third drop in jobless claims in four weeks and a mild uptick in wholesale prices in August add to evidence that a second recession is unlikely.

Concerns about another downturn intensified last month when jobless claims spiked past the half-million mark. Wholesale prices, meanwhile, fell in early summer for three straight months. But those trends have, for now, reversed themselves, leaving an economy that is still growing, but at a pace too slow to create many jobs.

Read more: http://www.msnbc.msn.com/id/39208991/ns/business-eye_on_the_economy/

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The corporate media is sure to hit us with some pro-Republican polls in order to try to dampen enthusiasm for Democrats and generate support for tax cuts to the rich. Afterall, the only way to get out of this recession is to give tax cuts to the rich ... again. Oh, and please ignore Republican god Alan Greenspan who favors letting all the tax cuts expires when interviewing Republicans.

[Sinistrous]

1. Why does the phrase "Grasping at Straws" come to mind?

[dmallind]

2. ...because doomers keep doing it despite the data?

How many years will Kunstler keep forecasting Dow 4000? How many years will idiots still believe him?

[Dappleganger]

3. So I guess that more people falling into poverty

and 25% increase in foreclosed homes is hopeful.

OK, must've missed the bubble-blower's memo on that one.

[SammyWinstonJack]

4. +1

[Tsiyu]

5. Actually

the want ads are picking up here in middle TN.

At least three times as many jobs advertised in some local papers compared to last year.

Don't know if it's a national trend but I'm feeling better about things...