"May retail sales double forecast; Consumers spend with help of $50b of stimulus checks" by Associated Press | June 13, 2008
WASHINGTON - The stimulus checks are working. A big increase in retail sales signaled that people are spending their rebate payments, helping to ward off a serious economic slump, at least for now.
The Commerce Department reported yesterday that retail sales soared 1 percent last month, double what had been expected. It was the largest increase since November and represented strong sales at a variety of retailers including the biggest increase at department stores and other general merchandise stores in a year.
The May increase, double what economists had been expecting, provided the strongest evidence yet that the economy is getting a major boost from the $50 billion in economic stimulus payments the government sent out through the end of May, slightly less than half the $106.7 billion scheduled to be sent this year.
The Bush administration is hoping the stimulus payments will offset the gloom from a prolonged slump in housing, a severe credit crisis, soaring energy bills, and rising layoff notices, and keep the country out of a deep recession.
And the MSM press will help sell the shit in any way they can!!!
Highlighting the pressures on the job market, the Labor Department reported yesterday that new applications for jobless benefits rose 25,000 last week to 384,000, the highest level since late March. It was a much bigger increase than expected and came after news last week that the unemployment rate in May jumped by the largest amount in 22 years, to 5.5 percent from 5 percent in April.
Oh, now the BAD NEWS!!!
Oh, no, sorry, the Fed thinks that is GOOD NEWS!
I'm so sick of the deceptive shit-spew by the "newspapers," readers!!
Stocks finished higher yesterday but well off their session highs after a resurgence in oil prices cut Wall Street's enthusiasm for the bigger-than-expected jump in retail sales.
The big rise in May retail sales and upward revisions showing stronger sales than previously reported in March and April left economists feeling more secure that the economy is still weathering the current slowdown without a full-blown recession.
Yup, they'll REVISE UP, REVISE DOWN, whatever they gotta do to SELL YOU SHIT, American people!
"For now at least, the tax rebates are trumping the higher energy and food costs and the other problems consumers are facing," said Mark Zandi, chief economist at Moody's Economy.com. "People are spending the money and not saving it or paying down debt."
And how much longer can they keep that up, readers?
Nigel Gault, an economist at Global Insight, had been expecting the overall economy, as measured by the gross domestic product, to be just barely positive in the current April-June quarter, with GDP growth of 0.2 percent. But after the retail sales report and the upward revisions to previous months, he said GDP growth could come in around 1 percent.
"The landscape has completely changed with the report on retail sales," he said. "This just changes the whole picture."
Hey, ONE REPORT and the ECONOMY is FIXED!
But Gault cautioned that there could be a payback down the road once the boost from the rebate checks begins to wear off this year. However, other economists said the good boost to sales so far held out hope that consumer spending will remain strong through the summer."
Yeah, but these guys are never wrong so PARTY UP, 'murka!!!!
Now ask yourself after reading this next piece, why is it news?
The DECEPTIVE, jerk-you-off, HEADLINE?
"House OK's extended benefits for the jobless" by Associated Press | June 13, 2008
Whew, just in time with the unemployment going up!WASHINGTON - The House yesterday approved an extra three months of jobless benefits for all unemployed Americans, knowing the plan's chances are slight in the Senate and almost nonexistent at the White House.
The Labor Department reported yesterday that the number of people filing new claims for unemployment benefits last week increased by 25,000 from the week before. The unemployment rate in May jumped to 5.5 percent, up from 5 percent in April. It was the biggest one-month gain in 22 years.
"The American people are waiting to see if Congress is going to help them," said House Speaker Nancy Pelosi, Democrat of California.
Then STOP the WAR and IMPEACH, b****!!!!!
Also see: Nancy Pelosi: Criminal
The White House already has threatened to veto the bill, and Senate Democrats have said they won't try to force their Republican colleagues to consider the House legislation. Senate Majority Leader Harry Reid, Democrat of Nevada, said he will try to bring up the House bill, but he won't force the issue if Senate Republicans object."
Nope, but ASSHOLE REID and his COMPLICIT and ENABLING DemocraPs have FUNDED the WARS the whole way.
Fuck you assholes down there.
TAR and fucking FEATHER TIME, and I'M READY!!!!!
"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security. — Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King [George] is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States."
