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AP: .4% More People Moved, Recession Is Over

From the Associated Press:

10 Things to Know for Today

September 20, 2012

Your daily look at late-breaking news, upcoming events and the stories that will be talked about Thursday:

1. THE WORST MAY BE OVER

New census numbers suggest that the U.S. economy has bottomed out…

And here is the most important story of the day, via the Associated Press:

Has US economy bottomed out? Census suggests yes

By HOPE YEN [sic] | September 20, 2012

WASHINGTON (AP) — The U.S. economy is showing signs of finally bottoming out: Americans are on the move again after record numbers had stayed put, more young adults are leaving their parents’ homes to take a chance with college or the job market, once-sharp declines in births are leveling off and poverty is slowing.

So don’t believe your lying eyes.

New 2011 census data being released Thursday offer glimmers of hope in an economic recovery that technically began in mid-2009…

Not all is well. The jobless rate remains high at 8.1 percent. Home ownership dropped for a fifth straight year to 64.6 percent, the lowest in more than a decade, hurt by more stringent financing rules and a shift to renting. More Americans than ever are turning to food stamps, while residents in housing that is considered "crowded" held steady at 1 percent, tied for the highest since 2003.

If there was a Republican in the White House the news media would be calling this a depression. After all, they called a comparatively booming economy under Bush as recession.

Taken as a whole, however, analysts say the latest census data provide wide-ranging evidence of a stabilizing U.S. economy…

Are these the same economists who are wrong week after week and month after month about the unemployment rate? The same economists who always say prosperity is just around the corner, now that there is a Democrat in the White House?

"We may be seeing the beginning of the American family’s recovery from the Great Recession," said Andrew Cherlin, a professor of sociology and public policy at Johns Hopkins University. He pointed in particular to the upswing in mobility and to young men moving out of their parents’ homes, both signs that more young adults were testing out job prospects.

"It could be the modest number of new jobs or simply the belief that the worst is over," Cherlin said…

According to the FEC’s records, Mr. Cherlin gave $500 to the Wesley Clark campaign in 2003.

As a whole, Americans were slowly finding ways to get back on the move. About 12 percent of the nation’s population, or 36.5 million, moved to a new home, up from a record low of 11.6 percent in 2011…

Foreclosures will do that to you. But this is what this entire piece if founded upon? A .4% increase in moving? This is clutching at straws — on steroids.

Among young adults 25 to 29, the most mobile age group, moves also increased to 24.6 percent from a low of 24.1 percent in the previous year. Longer-distance moves, typically for those seeking new careers in other regions of the country, rose modestly from 3.4 percent to 3.8 percent.

Less willing to rely on parents, roughly 5.6 million Americans ages 25-34, or 13.6 percent, lived with Mom and Dad, a decrease from 14.2 percent in the previous year. Young men were less likely than before to live with parents, down from 18.6 percent to 16.9 percent; young women living with parents edged higher to 10.4 percent, up from 9.7 percent.

Look at those numbers. All of the differences are less than a percentage point. A fraction of a fraction

The increases in mobility coincide with modest improvements in the job market as well as increased school enrollment, especially in college and at advanced-degree levels…

Says who?

While poverty slowed, food stamp use continued to climb…

Poverty has not slowed.

Government programs did much to stave off higher rates of poverty. While the official poverty rate for 2011 remained stuck at 15 percent, or a record 46.2 million people —

You see? Poverty did not slow.

[T]he government formula did not take into account noncash aid such as food stamps, which the Census Bureau estimates would have lifted 3.9 million people above the poverty line. If counted, that safety net would have lowered the poverty rate to 13.7 percent.

What an outrageous cheat! The AP is saying poverty is lower if you count food stamps, which have never been counted in the past. But comparing the food stamp enhanced income to years where you don’t count food stamps towards income, things are better.

Sheesh.

And without expanded unemployment benefits, which began expiring in 2011, roughly 2.3 million people would have fallen into poverty…

Someone needs to tell the AP that all of those expanded benefits are ending.

"There are signs among all these measures that the multiple downsides of the Great Recession have bottomed out, which is good news especially for young people who have seen their lives put on hold," said William H. Frey, a demographer at Brookings Institution. "There is some light at the end of the tunnel."

According to the FEC’s records, Mr. Frey has contributed heavily to the campaigns of Barack Obama, John Kerry, Al Franken and numerous other Democrats.

This is not journalism. This is the rankest form of propaganda. And it is all completely ridiculous. But it’s the Associated Press’s most important story of the day.

This article was posted by Steve on Thursday, September 20th, 2012. Comments are currently closed.

2 Responses to “AP: .4% More People Moved, Recession Is Over”

  1. Astravogel says:

    But, but, all we hear about is the 47%. Ann Coulter has an opinion on this:
    “At a private gathering, Romney told donors that Obama had a lock on the 47 percent
    of voters “who pay no income tax” and “believe the government has a responsibility to
    care for them.” This was deeply offensive to people who pay no income tax and believe
    the government has a responsibility to care for them.”

    Perhaps when I’m finally put in “the home,” I’ll want someone to care for me. Not right now,
    thank you.

  2. ilzito guacamolito says:

    ~ Home ownership dropped for a fifth straight year to 64.6 percent, the lowest in more than a decade, hurt by more stringent financing rules and a shift to renting. ~

    How is this bad? If you can’t afford a damned house, you can’t afford a damned house. For the love of Pete, stop pushing “the American dream of home ownership” and let the real estate market settle. We taxpayers cannot afford our own homes plus those of deadbeats foisted upon us by the feds.
    Is it too early for a drink?


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