Economy in nosedive - Obamanomics FAILED

Anyone paying attention to Q4 results see lots of near term trouble, not even considering the impacts of the fiscal cliff.

Will this downturn cost Obama the election?

"Ford Motor Co. (F) and Dow Chemical Co. (DOW) joined a growing number of companies firing thousands of workers as sluggish U.S. growth and Europe’s deepening recession lead to a persisting slump in sales.

North American companies have announced plans to eliminate more than 62,600 positions at home and abroad since Sept. 1, the biggest two-month drop since the start of 2010, according to data compiled by Bloomberg. Firings total 158,100 so far this year, more than the 129,000 job cuts in the same period in 2011."


Firings Highest Since 2010 as Ford to Dow Face Slump - Bloomberg

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The Word became a human being and, full of grace and truth, lived among us. We saw his glory, the glory which he received as the Father's only Son. (John 1:14)

The Facts and Economy states otherwise.

Try again.

Also:

"U.S. stocks fell, after yesterday’s slump to a seven-week low, as investors monitored corporate results and Americans signed fewer contracts than forecast in September to purchase previously owned homes.

Orders for U.S. business equipment stalled in September, capping a quarterly slump that signals investment will cool in the second half of the year. Fewer Americans filed first-time applications for unemployment benefits last week as the seasonal volatility at the start of the quarter wound down.
A measure of homebuilders in S&P indexes slumped 2.9 percent. PulteGroup Inc. (PHM), the largest U.S. homebuilder by revenue, dropped 3.7 percent to $16.81. Toll Brothers Inc. (TOL) retreated 3.3 percent to $34.09."

U.S. Stocks Fall on Home Data as Investors Weigh Earnings - Bloomberg

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The Word became a human being and, full of grace and truth, lived among us. We saw his glory, the glory which he received as the Father's only Son. (John 1:14)

SAN FRANCISCO (MarketWatch) — Halfway through the third-quarter earnings season, one thing is becoming clear: the fourth quarter is likely to be gloomy.

Even though many companies have forecast fourth-quarter results below the Wall Street consensus, analysts have been slow to react. That worries Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

Analysts currently estimate fourth-quarter operating earnings of $26.60 a share for the S&P 500 Index SPX -0.11% , according to Silverblatt. That’s down from $26.87 a share at the end of the third quarter, but well above the all-time record of $25.43 a share reached in the second quarter of this year. The current estimate is still too high given the number of profit warnings during this earnings season, Silverblatt said.

Source: As earnings falter, prospects for Q4 grow worse - Market Extra - MarketWatch

__________________
The Word became a human being and, full of grace and truth, lived among us. We saw his glory, the glory which he received as the Father's only Son. (John 1:14)

Analysts trimming Q4 GDP estimates. The Q4 initial GDP comes out tomorrow, but there is an FY2012 history of downward revisions after the initial GDP estimate.

WASHINGTON (MarketWatch) -- Ahead of Friday's release of gross domestic product data for the third quarter, a MarketWatch-compiled consensus of economist forecasts has dropped to 1.7% from 1.8%.

U.S. GDP view cut to 1.7% after durables data - MarketWatch

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The Word became a human being and, full of grace and truth, lived among us. We saw his glory, the glory which he received as the Father's only Son. (John 1:14)

Originally Posted by DrkSdBls

The Facts and Economy states otherwise.

Try again.

How so?

__________________
The Word became a human being and, full of grace and truth, lived among us. We saw his glory, the glory which he received as the Father's only Son. (John 1:14)

I hear you Jeff. Economic growth is slowing faster than ever. If obama gets in and has to deal with this economy my only question is if he's going to blame it on, Bush or term1 obama?

Originally Posted by Jeffwhosoever

How so?

Hows about you go back four years on that chart.

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Here is the Kansas City Manufacturing report released this morning:

"The month-over-month composite index was -4 in October, down from 2 in September and 8 in August, and the lowest in
over three years (Tables 1 & 2, Chart). The composite index is an average of the production, new orders, employment,
supplier delivery time, and raw materials inventory indexes. Manufacturing slowed at most durable- and nondurable goodsproducing plants, particularly among producers of machinery and electronic equipment. Most other month-over-month
indexes also fell in October. The production index eased further from -4 to -6, and the new orders and order backlog indexes
also declined. The employment index moved into negative territory for the first time this year, while the shipments index
inched higher but still remained negative. The raw materials inventory index decreased from 7 to 2, but the finished goods
inventory index was unchanged."

http://www.kansascityfed.org/publica...12Oct25mfg.pdf

__________________
The Word became a human being and, full of grace and truth, lived among us. We saw his glory, the glory which he received as the Father's only Son. (John 1:14)

Originally Posted by stamperben

Hows about you go back four years on that chart.

Recent trend is what voters will be thinking about. Obama tells us things are better now, and they are not.

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The Word became a human being and, full of grace and truth, lived among us. We saw his glory, the glory which he received as the Father's only Son. (John 1:14)