Fed Beige Book: The U.S. economy grew "gradually" in the past month, with credit conditions...


Fed Beige Book: The U.S. economy grew "gradually" in the past month, with credit conditions improving but manufacturing activity was soft. Housing markets across all districts showed improvement, with sales and construction continuing to rise. Employment held steady or grew only slightly in most districts; wage pressures were contained.
Comments (13)
  • Stoploss
    , contributor
    Comments (1713) | Send Message
     
    Uh oh, so there you have it. There will be no QE. Of any sort.

     

    Que gold miner beatdown in 3..2..
    29 Aug 2012, 02:07 PM Reply Like
  • Joe Razorback
    , contributor
    Comments (280) | Send Message
     
    LMAO... Silver too
    29 Aug 2012, 02:08 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    Oh I be the Bernanke has a surprise for us and for Romney....he is not going to go down easy...
    29 Aug 2012, 02:14 PM Reply Like
  • J 457
    , contributor
    Comments (1000) | Send Message
     
    And the flat jobs report Sept 7 will put the final nail in the coffin for the rest of the year- no QE. So what's really propping up this market at 1,400? Certainly not SPX earnings.
    29 Aug 2012, 02:21 PM Reply Like
  • davidingeorgia
    , contributor
    Comments (2661) | Send Message
     
    What is propping this market up? Faerie dust and wish-casting? :-)
    29 Aug 2012, 03:07 PM Reply Like
  • American in Paris
    , contributor
    Comments (5495) | Send Message
     
    So what leads you to believe there will be no growth in jobs? I recollect the most recent data point was 150K.
    29 Aug 2012, 06:13 PM Reply Like
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    PPT and the FED are the real buyers of the market Buy on support levels and anytime the markets drop more than 50 pts. Free markets are done under this Administration
    29 Aug 2012, 02:44 PM Reply Like
  • Greenspanblows
    , contributor
    Comments (148) | Send Message
     
    For some reason the Fed no longer believes in the economic cycle. They have strapped us all on the Wiley Coyote's rocket and this market will implode before it is all said and done.

     

    Regarding our next president. Does not matter who it is, the system is broken. Whoever wins will have to pay back the millions in campaign contributions from the financial sector which means no meaningful changes of any sort regardless of what they promise to get elected.
    29 Aug 2012, 03:47 PM Reply Like
  • Hendershott
    , contributor
    Comments (1687) | Send Message
     
    What's occurring economically isn't cyclical. It appears to be secular. Take the statement that's it's different this time and remove the last two words.
    30 Aug 2012, 04:02 PM Reply Like
  • Josh ODonnell
    , contributor
    Comments (229) | Send Message
     
    This is all a very strong case for supply and demand. There is enough good credit and income out there to push home prices higher as buyers...well..buy. Thats all that is...

     

    There is nothing to suggest a long term economic recovery is on the way. Main factor hindering long term growth is the $16 trillion dollar public debt the U.S. has. Even though unemployment is still very high, there are suggestions that things will worsen from here on out. Eventually, the housing bubble will fully pop, when the U.S. defaults on its debt. Right now, the U.S. has printed so much money, that is filtering into the system and most of that money is pushing home prices higher.. this and a combination of private equity.

     

    I do believe we will still see a depression once all is set and done. Any housing or job growth we see is all temporary at this point. WE wont see long term growth in this multi link bubble economy that is popping on its way down..... Buying into homes right now, is a very bad long term investment. People are gonna lose their asses in 5-10 years from now.
    29 Aug 2012, 09:29 PM Reply Like
  • bambooman
    , contributor
    Comments (264) | Send Message
     
    agreed ... 5-10 years from now, unless Congress gets to work paying DOWN debt, we'll be debt slaves to China. the payoff will be to sell huge swaths of our country (i.e. Hawaii or Alaska), or other major changes unforeseen as of now.

     

    of course, all this pain could be avoided if Congress took away their partisan arrogance and got down to work.
    29 Aug 2012, 11:28 PM Reply Like
  • Sameer Advani
    , contributor
    Comments (273) | Send Message
     
    It's highly unlikely that Bernanke will do anything significant before the election, it would be seen as too political and partisan.
    29 Aug 2012, 11:27 PM Reply Like
  • Greenspanblows
    , contributor
    Comments (148) | Send Message
     
    Sameer:

     

    I would normally agree with your statement but Romney has made it very clear that he does not approve of Bernanke and will replace him if he becomes president.

     

    Hopefully, Bernanke is tired of cleaning Greenspan's mess and would like to retire to the private sector anyway. Otherwise, who knows what he is capable of to keep his job. Can you say increased moral hazard?
    30 Aug 2012, 04:13 PM Reply Like
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