Here are three recent developments:
Three Cheers For The Tarp!
Treasury Earns $35 Billion from TARP
The government's controversial $700 billion bailout program has earned taxpayers some $35 billion in income over the last two years.
The Associated Press reported that income from the Troubled Asset Relief Program, or TARP rose nearly 17 percent through November, compared to where it stood in October.
The government's continuing sales of Citigroup stock gave the profits a boost.
The Treasury Department sold off the last of its stake in the giant banking company Tuesday, gaining a profit of $12 billion on the government's investment of $45 billion.
Republicans took advantage of voter unhappiness with the bailout and soaring federal budget deficits by picking up six Senate seats in the November elections and take control of the House.
http://www.cbn.com/cbnnews/finance/2010 ... from-TARP/
Retail Sales Up
Americans’ holiday shopping boosts retail industry
December 20, 2010 at 4:36 AM by AHN
Vittorio Hernandez – AHN News
New York, NY, United States (AHN) – The Black Friday discounts and Cyber Monday deals triggered a shopping fever among American consumers that resulted in good sales for the retail industry in the United States.
According to MasterCard Advisors’ SpendingPulse, clothing registered the highest sales in this year’s Christmas shopping. By market, teen clothing racked up a 12 percent hike, men’s clothing registered a 7 percent increase and women’s clothing logged a 4 percent improvement.
According to Mike McNamara, SpendingPulse vice president of research and analysis, the November sales are good indicators of Yuletide spending.
Aside from clothing, sales of luxury items increased 1.6 percent, while electronics dipped 1 percent. Another big winner for the yearend holiday spending spree is online shopping, which jumped 12 percent in November to $27.5 billion. Retail sales are expected to increase 3 to 4 percent for the 2010 holiday season.
Observers noticed that online businesses are now more careful about offering discounts in order to protect their profitability. To boost sales, online stores offered during the past two Christmases coupons that provided online shoppers 40 percent discounts on all purchases. This year, they instead offer freebies if buyers spend at least $100 and a mystery discount to be known at the point-of-sales.
Because of the unexpected surge in online orders, companies such as Amazon set Dec. 19 as the last day to order from their portal to assure delivery by Christmas Day. Amazon, the largest online retailer in the U.S., usually has a five-to-eight business days delivery policy for orders above $25.
Apple Store gave online consumers until Dec. 20 to place their orders, while Best Buy placed a Dec. 21, 11 p.m., Eastern time deadline.
http://gantdaily.com/2010/12/20/america ... -industry/
I of course do not mean to suggest that we are by any means out of the woods; there are still millions of people who are hurting.New Jobless Claims Hit Two Year Low
Jobless claims lowest in more than two years
WASHINGTON (Reuters) – New claims for unemployment benefits dropped more than expected last week to their lowest level in more than two years, suggesting the labor market recovery was gaining strength.
Initial claims for state unemployment benefits fell 34,000 to a seasonally adjusted 388,000, the lowest reading since early July 2008, the Labor Department said on Thursday. That was well below economists' expectations for 415,000.
The prior week's claims figure was revised modestly up to 422,000 from the previously reported 420,000. A Labor Department official said there was nothing unusual in the state-level data and described the report as clean.
The four-week average of new jobless claims, considered a better measure of underlying labor market trends, fell 12,500 to 414,000, the lowest level since the week ending July 26, 2008.
http://news.yahoo.com/s/nm/20101230/bs_ ... onomy_jobs
But when we see hopeful signs, it's certainly legitimate to point them out.
As Winnie said:
"Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning."
