Change we can all believe, from all sides of the political spectrum. The second term is when this POTUS will burnish his legacy into the history books. Years from now we can all say we lived through this time to see an historical admin, the way the WWII ERA saw FDR correct the ills of "Hooverville" and the like.
WASHINGTON -- From purchases and prices to builder sentiment and construction, the U.S. housing market is making consistent gains.
The latest evidence came in reports Monday that sales of previously occupied homes rose solidly in October and that builders are more confident than at any other time in 6 1/2 years.
New-home sales and home-price indexes have reached multi-year highs. And Lowe's on Monday reported a surge in net income, a sign that home-improvement retailers are benefiting.
The housing market's recovery still has a long way to go. But for now, it's helping prop up an economy that's being squeezed by a global slowdown and looming spending cuts and tax increases.
Joseph LaVorgna, an economist at Deutsche Bank, estimated that the housing recovery could boost U.S. economic growth by a full percentage point next year. That's because a stronger housing market would mean more jobs, especially in industries like construction, and more consumer spending.
"Housing could provide a meaningful -- and critical -- lift to overall economic activity when other growth drivers, like exports, are slowing," LaVorgna said.
Helping drive the housing rebound is growing confidence among builders. An index of builder sentiment compiled by the National Association of Home Builders/Wells Fargo builder rose to 46 this month, up from 41 in October. It was the highest reading since May 2006, just before the housing bubble burst. A second report Monday said sales of previously occupied homes are near five-year highs.
And if good news on the housing front doesn't warm your heart, how about this historical trip to Asia to kick off the second term. Adoring crowds to greet the 21st century POTUS. Putting America's best " foot " forward as the humble custom following Chief exec eschews the expensive Florscheims to go barefoot on his tour, accompanied by Sec OF State Clinton on what might be her farewell tour with the boss until perhaps Susan Rice follows in Clintons " footsteps ". No pun intended, no pun.
President Obama, walking barefoot, tours the Shwedagon Pagoda with Secretary of State Hillary Clinton, in Yangon, Myanmar, on Monday.
YANGON, Myanmar - In a historic trip to a long shunned land, President Obama on Monday showered praise and promises of more U.S. help to Myanmar if the Asian nation keeps building its new democracy. "Our goal is to sustain the momentum," he declared with pride as the first U.S. president to visit here.
Partisan politics aside a number of people on the right wished failure for this president from day one and a number of them big fish in the small right pond, Limbaugh and McConnell among the more notable. If Romney had won the past election i don't think any progressive forward thinking person would have wished failure on a GOP admin.
Failure and rebuke for the CEO only means trouble for the entire company ( America ). It's readily apparent that no matter the good news or optimistic information is met generally on the right with scorn and rebuke. Shame really that politics trumps ( no pun , he doesn't need the help ) POLITICS TRUMPS forward thinking, moving the ball forward.
If he does well, then we will do well, as the saying goes Sylvester. I bet you even have a picture of Obama on your wall.
If Obama wants to leave a legacy that will remember him as a important bookmark in the history of the United States, rather than a mere footnote, he's going to have to learn to govern and to compromise, neither of which he seems capable of doing. He can't get his way about everything he wants to do and he is going to have to accept that fact. The attitude of arrogance has got to go, to be replaced by a bit of humility.
Walking around barefoot in far away places with strange sounding names that have little to little to do with our security or business interests makes for good photo ops but not sound policy. Real world events will show if he has the mettle to be remembered as a leader. He should be leading the charge to resolve the the Mideast conflict, that is now centered on Gaza and Israel but includes the whole region. But rather than earning the Nobel Peace Prize he received, he once again sends the old and tired Hillary.
Oh, and by the way, any and all of the examples you present as the "good news" have not been as a result of anything he as done, or not done...since he has not put any policies in place that that would cause consumer confidence to get better, the market to go up, the housing situation to improve, new businesses to be created, or established ones to hire people. But now, the training wheels are gone. Can he track straight and true and lead us to the land of milk and honey. Or will he willfully lead us over the cliff like a bunch of lemmings.
As a matter of fact i had a fundraising card on my refridge that had POTUS pic now that you ask Skyjack. This morning as you mentioned it i looked over and it's gone....seems it was removed to " unclutter " the landscape of things in anticiaptation of thurs festivities. Oh well, we move forward.
As to the good " news " having to do nothing with POTUS, tell me when unemployment was over 8 percent it was " his " fault when it goes below 8 and housing is rebounding it has " nothing " , nothing at all to do with him...curious how the blame game and sour outlook when it comes to this president works.
As to the Asian tour recently completed in newborn democracies ( Myanmar ) met with cheering American flag waving crowds, goodness knows we need more countries to align with Western democracies in trade and fighting the ever growing spector of Islamic facist terror cells and the spread of Al-queda in all corners of the globe. And the president was not shy in his visit to Cambodia telling that countries Iron fisted regime that the U.S. would welcome them as partner on the world stage once the grip of tyranny is ever loosened. By the way Potus dropped Hilary off in Israel on the way home in order for the Sec of State to get involved directly in trying to get the missles from stopping and hostiliities to cease.
Oh I see...if something good is happening on his watch, it's happening because of him. And if something bad is happening on his watch, it has nothing to do with him. I think I understand now.
You libs have interesting ways of thinking.
From -818,000 job-losses in Jan '09 to +171,000 job gains as of Oct '12From a financial sector collapsing due to laissez faire to stabilized with new regulatory requirementsFrom a housing sector plummeting from laissez faire to stabilized rising valuesFrom an auto industry near collapse to an industry on the rebound Dubya's selection (and '04) election has lasting consequences. On Nov. 6 2012, the American people didn't buy the RW dead-end argument that Obama is to blame for failures before he arrived. We are better off than 4 years ago. We decided not to return to the red days of depression with Romney and the old Dubya reunion gang but move forward in a progressive manner..FORWARD
Skyhawk wrote: "Oh I see...if something good is happening on his watch, it's happening because of him. And if something bad is happening on his watch, it has nothing to do with him. I think I understand now."
I think you've NAILED IT, Skyhawk!
If, for example, the U.S. Navy Seals catch & kill Osama bin Laden using Bush's interrogation techniques to locate him, that's all thanks to President Obama.
But if Obama's economic policies continue to result in stagnant economic growth, that's still Bush's fault!
jpat has capsilized this argument succinctly and correctly. Four short yrs ago this country was hemoraging jobs by the hundreds of thousands , housing was in the toilet, OBL was NOWEHERE to be found, GM may as well have been that other car failure American Motors and it's CEO George Romney, yes papa Romney and the Gremlin, remember that fiasco...4 YRS later W'2 GETS stamped " return to sender " and a dynamic forward thinking POTUS is re-elected. You can't make this up, just ask Karl Rove, he's still counting Hamilton county Ohio with that other putz Dick Morris....
Good news, the sky is falling crowd at Fux and the Limbaugh newsletter readers need some cheering up. Your welcome.
Al Bragalone looks at a bottle of gin as shoppers fill a new liquor aisle at a Costco warehouse store in Seattle. (Photo: Elaine Thompson, AP)
11:26AM EDT November 1. 2012 -
WASHINGTON (AP) — Americans' confidence in the economy surged last month to the highest level in nearly five years, as many were encouraged by an improving job market.
The Conference Board said Thursday that its consumer confidence index increased in October to 72.2. That's up from 70.3 in September and the highest reading since February 2008, two months into the Great Recession. Investors cheered the news.
Consumers were more confident after seeing better job growth, the report noted. Hiring in July and August was stronger than first thought, and employers added a modest 114,000 jobs in September, the government reported last month.
The survey is watched closely because consumer spending drives nearly 70% of economic activity. The reading is still below 90, a level that indicates a healthy economy. It last reached that level in December 2007. But the index is far above the all-time low of 25.3 touched in February 2009.
The gain in consumer confidence could be an encouraging sign for President Barack Obama, who faces re-election Tuesday at a time when the economy is the top issue for most voters.
The reported noted that consumers are more optimistic about both the economy and job market now and where it is headed in the next six months.
Consumers were "modestly more upbeat" about their finances and the outlook for the economy, said Lynn Franco, a Conference Board official. . They "appear to be in better spirits approaching the holiday season," she said.
Economists have cited some key reasons for why consumers have grown more confident in recent months. Stock prices are higher. Gasoline prices have leveled off after rising for several months. And a broad increase in home prices is likely giving would-be buyers more confidence. When prices rise, buyers don't worry so much that a home might lose value after they bought it.
Some economists question whether the higher level of confidence is sustainable. But others note that even a weak economy doesn't feel so bad to many consumers once it begins to make steady improvement.
Consumers' confidence might have been rattled by this week's Superstorm Sandy. Disruptions across U.S. industries will slow the economy temporarily, and some stores and restaurants will draw fewer customers. Some of those losses won't be made up.
U.S. manufacturing expanded for the second straight month in October, boosted by growth in new orders and production.
The Institute for Supply Management said Thursday that its index of factory activity rose last month to 51.7, up from September's reading of 51.5. A reading above 50 indicates expansion.....
u get the idea.... Onward and Upward !!!