[onlooker]

haha, P, love your description of the Oligopoly. Captures keenly the sense of their distance figuratively speaking from the common man. But hey let us all take comfort that first, they cannot take their riches with them after they die and second, what is coming is not something they or their descendants are going to be able to avoid because of their money. As said in a quote from Gladiator and I paraphrase, --The time for honoring yourself is soon coming to an end.

[copious.abundance]

U.S. personal spending increases in December, core PCE inches up

U.S. consumer spending increased in line with forecasts in December, while core PCE prices also ticked up as expected, official data showed on Monday.

In a report, the Commerce Department said that personal spending increased 0.5% in December from the prior month, in line with expectations and compared to a rise of 0.2% in November.

Consumer spending is the single biggest source of U.S. economic growth, accounting for as much as two-thirds of economic activity.

Personal income, meanwhile, rose by a seasonally adjusted 0.3% in December, compared to expectations for a 0.4% advance. That was after rising 0.1% a month earlier.

[...]

[copious.abundance]

U.S. manufacturers see strongest growth in more than two years, ISM finds

American manufacturers grew in January at the fastest pace in more than two years and many executives said the outlook “looks stronger” at the start of the 2017.

The Institute for Supply Management said its manufacturing index climbed to 56% last month from a revised 54.5% in December, marking the fifth straight gain. It’s also the highest level since the end of 2014 and the index easily surpassed the 55.3% forecast of economists surveyed by MarketWatch.

New orders (60.4%) shot up to the highest level in two years as did employment (56.1%).

A similar manufacturing survey from IHS Markit on Wednesday also showed the strongest upturn in nearly two years.

[...]

[copious.abundance]

ADP Reports Surge in Job Growth in January

The ADP National Employment Report showed 246,000 private sector jobs were created in January, according to Wednesday’s release, far more than expected.

That’s up sharply from December’s 151,000, which was revised down slightly from 153,000. Economists were expecting 168,000 new jobs.

Peter Boockvar of The Lindsey Group commented that he can’t remember seeing such a big discrepancy between expectations and the reported number.

“2017 got off to a strong start in the job market,” commented Mark Zandi, chief economist of Moody’s Analytics. “Job growth is solid across most industries and company sizes. Even the energy sector is adding to payrolls again.”

The report suggests that Friday’s non-farm payrolls report, now expected at 190,000, may surprise to the upside as well, although the two don’t always correlate.

[...]

[Outcast_Searcher]

Nobody cares for your posts, cornie. You've been on the wrong side of science and history far too long. The oil industry is in collapse, the stock market and real estate bidnesses soon to follow.

Game up. Game over.

Get back to us AFTER one of your doomer predictions actually happens in a meaningful way. Meanwhile, the oil industry isn't in collapse, since rig counts are in a growth trend. Oh, and global oil consumption, as usual, continues to grow.

I for one have no problem with Copious' posts on the economy. They deal in data instead of constantly incorrect predictions based on wishful thinking.

Do you bet on your stock market collapse prognistications? If so, how do you stay solvent?

[copious.abundance]

Nobody cares for your posts, cornie. You've been on the wrong side of science and history far too long. The oil industry is in collapse, the stock market and real estate bidnesses soon to follow.

Game up. Game over.

[Cog]

You should short the market pstarr if you are that convinced it is headed for a crash. We can then compare portfolios at the end of 2017 to see who won.

[copious.abundance]

January jobs report crushes expectations: 227,000 added

The labor market began 2017 on a high note as U.S employers added 227,000 jobs in January, raising the prospect of solid hiring this year amid a burst of business confidence in the Trump administration.

The unemployment rate, which is calculated from a different survey, rose to 4.8% from 4.7%, the Labor Department said Friday. That's because a hefty rise in employment was offset by an even bigger increase in the number of Americans working and looking for jobs.

Economists surveyed by Bloomberg expected 175,000 job gains.

The news cheered investors who pushed up the Dow Jones industrial average by 186 points, ending the week at 20,071. Financial stocks contributed to the broader market's gains after President Trump signed an executive order to roll back some Obama-era restraints on Wall Street banks.

Businesses added 237,000 jobs, driven by retail, construction and financial services. Federal, state and local governments lost 10,000.

[...]

[Outcast_Searcher]

You should short the market pstarr if you are that convinced it is headed for a crash. We can then compare portfolios at the end of 2017 to see who won.

Who cares about just 2017 but speculators? Investment is about a multi-decade timeframe and patience -- especially with stocks. (And trying to be out of the market to "avoid down-turns" is impractical, given the costs of trading and hedging.

[copious.abundance]

GE to build $100 mln jet engine plant in Indiana
BMW plans $1 billion expansion in South Carolina
GM to add 1,400 Michigan jobs with new Chevrolet Volt on the way
Boeing plans fast start to 777X buildings in Everett
New carpet plant in Carbondale, Ga., could be world's biggest
Giti, a Singapore tire company, to bring 1,700 jobs to Chester County, S.C., invest $560 million
SolarCity plans world's largest solar panel plant in upstate N.Y.
Chinese company to invest $2 billion, create 2,000 jobs in Chesterfield, VA
Volkswagen to spend $900 million at Tennessee plant to build new SUV, add 2,000 jobs
3,850 jobs may eventually come to South Jersey waterfront
East Tennessee auto supplier creates 1,000 jobs
Tesla's Reno 'Gigafactory' would create jobs bonanza
Wentzville GM plant adding third shift, 750 jobs
Ford to add 850 jobs at Dearborn factories for new F-150 truck
Ford will add 1,200 jobs at Claycomo plant for its new Transit van
Vertex Rail to bring 1,300 jobs to Wilmington, invest $50 million in production facility
21st Century Economy: Google could hire 30,000 in Bay Area based on tech titan's development spree
Fuyao set to double hiring at Moraine plant to 1,500 jobs
21st Century Economy: Cerner Corp Breaks Ground on $4.45B Campus With 16,000 Jobs in Kansas City, Missouri
Ford will add 900 workers at Claycomo plant to build the F-150 truck
Daimler to build South Carolina plant, creating 1,300 jobs
Nissan to add 1,000 jobs in Smyrna
GM mulls expansion of SUV plant in Texas
GM to add 2,500 jobs, invest $1B at Warren Tech Center
Volvo factory to bring 4,000 jobs to South Carolina
Continental Tire confirms it will create 2,500 jobs in Hinds County, Mississippi
FCA investing $1B, adding 1,000 jobs at Jeep plants
Sentury Tire confirms plans for $530 million, 1,000-job plant in Georgia

Intel will finally finish Fab 42 in Arizona, bring new 7nm capacity online

Several years ago, Intel announced that it wouldn’t finish its 14nm manufacturing plant, Fab 42. When Intel announced the move, 22nm was still Intel’s leading-edge process node, though 14nm was on the horizon and would start rolling out in mobile products late that year. Putting Fab 42 on ice was a tacit admission from Intel that its plans to take market share from ARM with Atom weren’t going particularly well, and that the PC industry wasn’t going to need a new fab any time soon.

Now, Intel has announced that it will be bringing Fab 42 online, but not as a 14nm facility. Instead, Fab 42 will be brought online at the 7nm node, and to be online within 3-4 years. Intel expects to create approximately 3,000 jobs directly, with a 10,000-job impact on Arizona itself. Semiconductor manufacturing work in Arizona pays a median wage of $22 per hour (~$46,000 per year) according to the BLS. That’s not fabulous, but a family with two full-time earners at that pay rate would be well above the median household income in the United States.

[...]

[copious.abundance]

Gone shopping: Retail sales surged in January

Americans splurged in January as retail sales picked up sharply despite fewer car purchases, and a core reading was strong.

Retail sales overall increased 0.4%, above the 0.1% gain economists expected. Excluding volatile items -- autos, gasoline, building materials and food services -- sales rose 0.4%, matching economists' median estimate. Also encouraging is that December’s sales increase was revised up to 1% from 0.6%.

Americans are enjoying solid job and income growth and reduced debt. Yet while auto purchases bolstered retail sales in December, core readings that exclude volatile items have been sluggish recently. As a result, economists expected a healthy rebound in January.

Auto sales fell 1.4% but gasoline station sales increased 2.3% on rising prices.

Consumers also spent freely across almost all categories as sales rose 1% at clothing shops, 1.8% at sporting good stores, 1.6% at electronics outlets, 1.2% at department stores, 0.7% at health and personal care stores, and 1.4% at restaurants and bars.

[copious.abundance]

Empire State index jumps to a two-year high in February

The Empire State index of manufacturing conditions in the New York area jumped to its highest level in more than two years in February, the New York Fed said Wednesday.

The index rose to 18.7 in February from 6.5 in January. That’s well above economists forecasts of a reading of 7.5 according to Econoday and the highest level since September 2014.

Any reading above zero indicates improving conditions.

The details of the report were also strong. The new orders index climbed to 13.5 in February from 3.1 in the prior month. Shipments rose to 18.2 from 7.3 in January. The unfilled orders index rose above zero for the first time in more than five years.

[...]

[copious.abundance]

Philly Fed index rockets to 33-year high in another postelection blast

The Philadelphia Fed said its manufacturing index soared in February to a 33-year high, in another indication of improving business sentiment in the wake of a Republican election sweep.

The Philadelphia Fed index surged to a reading of 43.3 from 23.6 in January. That’s the highest level since early 1984, on a scale where any reading above zero indicates improving conditions. That is well above the MarketWatch economic consensus was for a reading of 20.

It was also the biggest one-month gain in the index since June 2009.

Manufacturing activity in the Philadelphia region has been improving since the middle of last year.

[...]

[Outcast_Searcher]

Nobody cares for your posts, cornie. You've been on the wrong side of science and history far too long. The oil industry is in collapse, the stock market and real estate bidnesses soon to follow.

Game up. Game over.

Get back to us AFTER one of your doomer predictions actually happens in a meaningful way. Meanwhile, the oil industry isn't in collapse, since rig counts are in a growth trend

Give me a buzz and I will dump some cash into cornie's pool when I see some serious growth. It hasn't even climbed back to 1987 number (750). What is it now? 590? Was 1,600 a few years ago. No rebound. No growth. No hope.

I presume from your 590 number you're talking about the Baker Hughes Rig Count.

You do realize that rig count doesn't equate to the entire global economy, right?

You do realize that with a world awash in oil for the short term that there is NO constraint to growth being caused by oil currently, right?

....

Oh, wrong, because you keep telling us that oil is "unaffordable" at current prices.

As long as you persist in delusional "observations" like that, it's difficult to have a meaningful objective discussion about actual economic anything. Meanwhile global growth and US growth continues just fine, helped along by cheap crude oil.

[Cog]

Gasoline is a lot more affordable now than it was a few years ago. More ETP wishful thinking.

[ralfy]

I presume from your 590 number you're talking about the Baker Hughes Rig Count.

You do realize that rig count doesn't equate to the entire global economy, right?

You do realize that with a world awash in oil for the short term that there is NO constraint to growth being caused by oil currently, right?

....

Oh, wrong, because you keep telling us that oil is "unaffordable" at current prices.

As long as you persist in delusional "observations" like that, it's difficult to have a meaningful objective discussion about actual economic anything. Meanwhile global growth and US growth continues just fine, helped along by cheap crude oil.

But as you pointed out, it will only take place "for the short term."

[copious.abundance]

Leading economic indicator points to accelerating growth in 2017

The U.S. leading economic index had its second strong increase since the election and if the trend continues it could point to acceleration in economic growth, the Conference Board said Friday.

The leading economic index for the U.S. rose 0.6% in January after a 0.5% gain in December. That’s the fastest pace since June 2015.

“The January gain was broad based among the leading indicators. If this trend continues, the U.S. economy may even accelerate in the near term,” said Ataman Ozyildirim, director of business cycles at The Conference Board, in a statement.

Among the 10 indicators that make up the Conference Board’s gauge, eight made positive contributions in January, led by the interest-rate spread, building permits and average weekly jobless claims.

[...]