Horrible News For Anti-Obamaniacs. Economy Is Improving!

Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: Devil505 On: Mon Mar 23, 2009 4:46 pm

U.S. existing home sales rose in February
·
By Lucia Mutikani Lucia Mutikani – Mon Mar 23, 1:03 pm ET


WASHINGTON (Reuters) – Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, offering some hope to an economy battling a 15-month recession.
The National Association of Realtors (NAR) said sales rebounded 5.1 percent in February to a 4.72 million-unit annual rate, notching their largest gain since July 2003, but about 45 percent of these were foreclosure or short-sale transactions.
This was above market expectations for a drop to a 4.45 million-unit pace after January's 4.49 million rate. Compared to the same period last year, February sales were down 4.6 percent, the NAR said.
U.S. stocks, already rallying after the U.S. government released details of a plan to clean out toxic assets from banks' balance sheets, extended gains on the housing data.

http://news.yahoo.com/s/nm/20090323/bs_nm/us_usa_economy_housing_6
This link is broken, either the page no longer exists or there is some other issue like a typo.







Stocks surge on bank plan, rise in home sales
By TIM PARADIS – 44 minutes ago
NEW YORK (AP) — Wall Street is getting the good news it wants on the economy's biggest problems: banks and housing. Investors reignited a two-week rally Monday, cheering the government's plan to help banks remove bad assets from their books as well as a report showing a surprising increase in home sales. Major stock indicators jumped as much as 6 percent, including the Dow Jones industrial average, which soared more than 400 points.
The Treasury Department's bad asset cleanup program would tap money from the government's $700 billion financial rescue fund and involve help from the Federal Reserve, the Federal Deposit Insurance Corp. and the participation of private investors.
The government's announcement was what the market had waited weeks to hear. Treasury Secretary Timothy Geithner had announced an outline of the program last month but provided few details then about how it would work, leading to a poor reception in the markets.
Meanwhile, the housing report released Monday was overwhelmingly positive for the markets even though it showed a decline in home prices in February. Investors are embracing any sign that a glut in homes for sale may be easing.
The market had received another dose of housing good news last week on the troubled industry as housing starts for February came in much better than expected.
http://www.google.com/hostednews/ap/art ... AD973UIJ82



Seems like the worst fears of many of you is happening.........The U.S. economy is getting better!! :up: :devil:
Devil505
 
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Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: tvb On: Mon Mar 23, 2009 4:57 pm

Lions and tigers and bears, oh my!
tvb
 
Stove/Furnace Make: Alaska
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Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: Paulie On: Mon Mar 23, 2009 4:58 pm

That there are some indicators looking up is great news. But let us not get cocky. We are not out of the woods yet. When
it looks like we have dodged the silver bullet for sure, then by all means, gloat! But until then, I think it would be better
manners for all of us to just hold our collective breaths. 8-)
Paulie
 
Stove/Furnace Make: leisure Line
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Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: Richard S. On: Mon Mar 23, 2009 5:03 pm

I'll take wild guess the people buying are those with a lot of disposable income and they are doing it as an investment. Truthfully if I had million laying around right now that is where I would be looking to put it. Long term real estate is always a good investment and this is by far the best time to buy.
Richard S.
 
Stoker Coal Boiler: Van Wert VA1200
Coal Size/Type: Buckwheat/Anthracite

Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: Yanche On: Mon Mar 23, 2009 5:19 pm

My daughter is one of those new home buyers. She and her boyfriend are buying a brand new house. First house for her but third one for him. They have put off getting married because being single allows her to qualify for the $8K credit. Thank you tax payers. Can they afford it? Absolutely. Instead of having to spend their $8K on the house they will be spending it on carefully chosen new items for the house. Their own contribution to the economic stimulus. Is all the new printed money going to turn things around? Who knows, but this is the first time a significant government gift has helped anyone I know.
Yanche
 
Stoker Coal Boiler: Alternate Heating Systems S-130
Coal Size/Type: Anthracite Pea

Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: jpete On: Mon Mar 23, 2009 5:20 pm

So two days ago you were saying that Obama,a can't fix the economy in 7 weeks but now all of a sudden he fixed the economy?

I call a dead cat bounce. Something like 6 of the top 10 highest percentage gains in the Dow happened during the Depression.

Nothing fundamental changed other than BO announced he is going to spend a trillion of my great grand childrens money to buy all the worst crap these banks have on hand.

If someone promised to buy any old junk I had lying around, my economy would be greatly improved too.
jpete
 
Hand Fed Coal Stove: Harman Mk II
Coal Size/Type: Stove, Nut, Pea
Other Heating: Dino juice

Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: Devil505 On: Mon Mar 23, 2009 5:22 pm

Yanche wrote:My daughter is one of those new home buyers. She and her boyfriend are buying a brand new house. First house for her but third one for him. They have put off getting married because being single allows her to qualify for the $8K credit. Thank you tax payers. Can they afford it? Absolutely. Instead of having to spend their $8K on the house they will be spending it on carefully chosen new items for the house. Their own contribution to the economic stimulus. Is all the new printed money going to turn things around? Who knows, but this is the first time a significant government gift has helped anyone I know.



Good for them Yanche!! :up:

Nice to see some of our tax dollars helping someone besides Exxon-Mobil, Haliburton, Blackwater, KBR et al.....for a change! :clap:
Devil505
 
Stove/Furnace Make: Harman
Stove/Furnace Model: TLC-2000

Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: Devil505 On: Mon Mar 23, 2009 5:29 pm

jpete wrote:I call a dead cat bounce. Something like 6 of the top 10 highest percentage gains in the Dow happened during the Depression.

Nothing fundamental changed other than BO announced he is going to spend a trillion of my great grand childrens money to buy all the worst crap these banks have on hand.


Is that you Scrooge?......The Grinch???


(Just think how terrible the news will be in about a year when we get to the point that no U.S. troops were killed in the middle east.....a general comment not aimed at you Jeff or anyone in paticular here)
Last edited by Devil505 on Mon Mar 23, 2009 5:32 pm, edited 1 time in total.
Devil505
 
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Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: jpete On: Mon Mar 23, 2009 5:32 pm

Devil505 wrote:(Just think how terrible the news will be when we get to the point that no U.S. troops were killed in the middle east will be in about a year......a general comment not aimed at you Jeff or anyone in paticular here)


The only way that miracle will occur is if Obama keeps his promise to pull the troops out of there. And he ain't going to do it so I wouldn't start holding my breath Devil.

As long as we are over there, they will continue to bomb us. And some of those bombs will unfortunately, prove to be effective.
jpete
 
Hand Fed Coal Stove: Harman Mk II
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Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: Devil505 On: Mon Mar 23, 2009 5:36 pm

jpete wrote:The only way that miracle will occur is if Obama keeps his promise to pull the troops out of there. And he ain't going to do it so I wouldn't start holding my breath Devil.


I'm betting he will (ahead of his timeline) & we'll end up pulling out of a hopeless entanglement in Afghanistan too. (a small highly mobile force to go after terrorists is all that is needed. Not sitting duck targets that we now have over there.
Devil505
 
Stove/Furnace Make: Harman
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Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: brckwlt On: Mon Mar 23, 2009 5:46 pm

Devil505 wrote:
Seems like the worst fears of many of you is happening.........The U.S. economy is getting better!! :up: :devil:



Devil,

this is great news. I dont know why you would think anyone would want the economy to do bad. That is crazy. Obama is doing a bad job regardless of how the economy is. I hope we have the best economy ever with him in office.
brckwlt
 
Stove/Furnace Make: Axeman-Anderson
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Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: jpete On: Mon Mar 23, 2009 5:48 pm

So who is going to protect the 104 acre embassy we built over there? A small task force? I don't think so.

As has been pointed out to me, and something the Iraqis know well, once the Americans show up, they never leave. We are still in every country we put down stakes in since at least WWII. What makes you think we'll leave Iraq? What do you think we went IN for?
jpete
 
Hand Fed Coal Stove: Harman Mk II
Coal Size/Type: Stove, Nut, Pea
Other Heating: Dino juice

Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: stockingfull On: Mon Mar 23, 2009 5:57 pm

Devil505 wrote:
jpete wrote:I call a dead cat bounce. Something like 6 of the top 10 highest percentage gains in the Dow happened during the Depression.

Nothing fundamental changed other than BO announced he is going to spend a trillion of my great grand childrens money to buy all the worst crap these banks have on hand.


Is that you Scrooge?......The Grinch???


(Just think how terrible the news will be in about a year when we get to the point that no U.S. troops were killed in the middle east.....a general comment not aimed at you Jeff or anyone in paticular here)

Don't forget, Dev, Jeff's one o'them "Librarians" or "Constilingualists" or sumpin'. :D

They're always in a bad mood 'cause they can never get people to elect their candidates. :bang:
stockingfull
 
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Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: Devil505 On: Mon Mar 23, 2009 6:02 pm

jpete wrote:So who is going to protect the 104 acre embassy we built over there?

We'll give it to the Iraqis....It's in THEIR country!

jpete wrote:What makes you think we'll leave Iraq?

I trust President Obama's words.

jpete wrote:What do you think we went IN for?

Oil

(Which will become less important with every year President Obama is in office)
Devil505
 
Stove/Furnace Make: Harman
Stove/Furnace Model: TLC-2000

Re: Horrible News For Anti-Obamaniacs. Economy Is Improving!

PostBy: Devil505 On: Mon Mar 23, 2009 6:04 pm

stockingfull wrote:Don't forget, Dev, Jeff's one o'them "Librarians" or "Constilingualists" or sumpin'. :D

They're always in a bad mood 'cause they can never get people to elect their candidates. :bang:


Yeah....but I figured be may be in a better mood now that his Harman Mach1 is working alright again. ;)
Devil505
 
Stove/Furnace Make: Harman
Stove/Furnace Model: TLC-2000