9.1% unemployment rate for May

  • Posted by a hidden member.
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    Jun 03, 2011 1:00 PM GMT
    http://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?
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    Jun 03, 2011 2:30 PM GMT
    I heard a news report that no president since FDR has ever been reelected with these numbers.
  • wild_sky360

    Posts: 1492

    Jun 03, 2011 3:01 PM GMT
    More like 29%.
    The employment numbers are cooked...so is inflation. Meaningless after all the manipulation. The fed stopped publishing M3 under Bush, when the printing presses kicked into high gear
  • wild_sky360

    Posts: 1492

    Jun 03, 2011 3:05 PM GMT
    ...and when China demanded gold for some mature bonds or gold futures or something, we delivered US minted Tungsten bars with gold electroplate. Oops...sorry China...my bad.
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    Jun 03, 2011 5:56 PM GMT
    Remarkable the lack of lefties in here. No spin for a lovely Friday afternoon?
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    Jun 03, 2011 5:58 PM GMT
    OldGeezer saidRemarkable the lack of lefties in here. No spin for a lovely Friday afternoon?


    These numbers are horrible - irrespective of political ideology or leanings especially considering the effective unemployment/underemployment rate.
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    Jun 03, 2011 8:05 PM GMT
    southbeach1500 said
    socalfitness saidI heard a news report that no president since FDR has ever been reelected with these numbers.


    But Obama IS the reincarnation of FDR.


    I think the fear at this point is that Obama is the reincarnation of Jimmy Carter -but that may end up being a best case scenario.
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    Jun 03, 2011 10:19 PM GMT
    I really hope we aren't heading I think we might be. My business is just now recovering after a really bad two years. I wouldn't at all mind a few good years before the next cycle. Boom and bust will never stop but for christ sakes let us have a little boom. But anyway, while away a Friday nigbt at an out of town car show with a great big bunch of red necks.
  • Webster666

    Posts: 9217

    Jun 03, 2011 10:23 PM GMT
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?





    Man, when President Cheney and Little Bush destroy the economy, they REALLY destroy the economy !
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    Jun 04, 2011 1:06 AM GMT
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?


    Are you gloating? Happy to see the United States suffering?
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    Jun 04, 2011 1:10 AM GMT
    http://www.economist.com/blogs/freeexchange/2011/06/americas-jobless-recovery
    It's not too difficult to spot the sources of economic weakness in the details of the report. Manufacturing employment fell by 5,000 jobs in May after rising steadily in previous months, a testament to the worsening outlook for exports in a weakening global economy. Retail trade employment growth also tumbled, as nervous consumers trimmed spending. America's job woes have also been self-inflicted. Private firms have added over 1.7m jobs in the past 12 months, but the government has shed nearly half a million over the same period (not counting the loss of temporary Census jobs last year). Local governments alone have cut 446,000 positions since September of 2008. Some of those government jobs losses reflect a sensible rationalisation of workforces. Too many of them reflect the damaging effect of pro-cyclical budget cutting due to balanced-budget rules in cash-strapped states. More federal aid to states might have dampened the reductions, easing the drag on national growth.

    Budget issues at the federal level may also be contributing to the slowdown. Unexpectedly large federal budget cuts are chipping away at quarterly growth rates with less of a cushion than previously imagined. The 0.5 percentage point drag due to slashed spending seems less problematic when the economy is expected to expand at 4%—as was once hoped for the first half of 2011—than when it's growing at less than 2%, as America's did in the first quarter, and as forecasters are increasingly predicting for the second quarter.
    ...
    In a global economy this volatile, the American economy is going to have a rocky month here and there. But American government officials are doing themselves no favours. Federal Reserve officials are overly concerned with inflation given the outlook for slowing global growth. Now is no time for policy tightening. And elected representatives in Washington are playing with fire. By cutting too much spending in the short-term and turning the debt-ceiling fight into a political battle, Congress risks making a large unforced error. The economy is simply too vulnerable at the moment for politicians to make those kinds of mistakes.
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    Jun 04, 2011 2:36 AM GMT
    GAMRican said
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?


    Are you gloating? Happy to see the United States suffering?


    Did you read my post above?
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    Jun 04, 2011 2:45 AM GMT
    Webster666 said
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?





    Man, when President Cheney and Little Bush destroy the economy, they REALLY destroy the economy !


    Very strange how little you said about the takeover of the congress by lefties Reed and Pelosi in 2006, and the next year what starts happening to the economy - just a coincidence? And this is after the longest uninterrupted period of job growth of 52 CONSECUTIVE months and GDP growth of 26 CONSECUTIVE quarters in our history, and this is with republicans have control of legislative and executive branches. The lefties get congress in 2006 and whatdoyaknow, things start falling apart
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    Jun 04, 2011 1:26 PM GMT
    OldGeezer said
    Webster666 said
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?





    Man, when President Cheney and Little Bush destroy the economy, they REALLY destroy the economy !


    Very strange how little you said about the takeover of the congress by lefties Reed and Pelosi in 2006, and the next year what starts happening to the economy - just a coincidence? And this is after the longest uninterrupted period of job growth of 52 CONSECUTIVE months and GDP growth of 26 CONSECUTIVE quarters in our history, and this is with republicans have control of legislative and executive branches. The lefties get congress in 2006 and whatdoyaknow, things start falling apart


    The causes of the financial crisis were decades in the making and had nothing to do with who controlled Congress in 2006.
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    Jun 04, 2011 1:33 PM GMT
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?


    im guessing you're gonna vote for sarah palin/donald trump on the next elections icon_neutral.gif
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    Jun 04, 2011 1:36 PM GMT
    dannylv said
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?


    im guessing you're gonna vote for sarah palin/donald trump on the next elections icon_neutral.gif


    I'm guessing that you've read very little of what I've written over the last few months
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    Jun 04, 2011 1:39 PM GMT
    Christian73 said
    OldGeezer said
    Webster666 said
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?





    Man, when President Cheney and Little Bush destroy the economy, they REALLY destroy the economy !


    Very strange how little you said about the takeover of the congress by lefties Reed and Pelosi in 2006, and the next year what starts happening to the economy - just a coincidence? And this is after the longest uninterrupted period of job growth of 52 CONSECUTIVE months and GDP growth of 26 CONSECUTIVE quarters in our history, and this is with republicans have control of legislative and executive branches. The lefties get congress in 2006 and whatdoyaknow, things start falling apart


    The causes of the financial crisis were decades in the making and had nothing to do with who controlled Congress in 2006.


    But ... but .. you seem to always blame it, and just about everything else that goes wrong, on W, and W wasn't there for decades.
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    Jun 04, 2011 2:02 PM GMT
    OldGeezer said
    Christian73 said
    OldGeezer said
    Webster666 said
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?





    Man, when President Cheney and Little Bush destroy the economy, they REALLY destroy the economy !


    Very strange how little you said about the takeover of the congress by lefties Reed and Pelosi in 2006, and the next year what starts happening to the economy - just a coincidence? And this is after the longest uninterrupted period of job growth of 52 CONSECUTIVE months and GDP growth of 26 CONSECUTIVE quarters in our history, and this is with republicans have control of legislative and executive branches. The lefties get congress in 2006 and whatdoyaknow, things start falling apart


    The causes of the financial crisis were decades in the making and had nothing to do with who controlled Congress in 2006.


    But ... but .. you seem to always blame it, and just about everything else that goes wrong, on W, and W wasn't there for decades.


    No. I've never blamed Bush for the financial crisis. The economy throughout his presidency is another story, and his role in moving the country from projected surpluses to a horrendous deficit. Those can be laid at his feet.
  • CuriousJockAZ

    Posts: 19119

    Jun 04, 2011 2:11 PM GMT
    Christian73 said

    The causes of the financial crisis were decades in the making and had nothing to do with who controlled Congress in 2006.


    This is the only REAL truth of the whole matter of the economy. It's so easy to point fingers, but in reality there is plenty of blame to go around --- and this includes Republicans, Democrats, the American people's spending habits, our excessive aid to foreign countries, and a zillion other factors that brought the economy to where it is in 2011.
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    Jun 04, 2011 2:18 PM GMT
    Christian73 said
    OldGeezer said
    Christian73 said
    OldGeezer said
    Webster666 said
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?





    Man, when President Cheney and Little Bush destroy the economy, they REALLY destroy the economy !


    Very strange how little you said about the takeover of the congress by lefties Reed and Pelosi in 2006, and the next year what starts happening to the economy - just a coincidence? And this is after the longest uninterrupted period of job growth of 52 CONSECUTIVE months and GDP growth of 26 CONSECUTIVE quarters in our history, and this is with republicans have control of legislative and executive branches. The lefties get congress in 2006 and whatdoyaknow, things start falling apart


    The causes of the financial crisis were decades in the making and had nothing to do with who controlled Congress in 2006.


    But ... but .. you seem to always blame it, and just about everything else that goes wrong, on W, and W wasn't there for decades.


    No. I've never blamed Bush for the financial crisis. The economy throughout his presidency is another story, and his role in moving the country from projected surpluses to a horrendous deficit. Those can be laid at his feet.


    If spite of the fact that obama has about as much to the deficit in his 2 1/2 years as Bush did in 8?

    And that "throughout" doesn't quite jive with:

    And this is after the longest uninterrupted period of job growth of 52 CONSECUTIVE months and GDP growth of 26 CONSECUTIVE quarters in our history,
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    Jun 04, 2011 2:29 PM GMT
    GAMRican said
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?


    Are you gloating? Happy to see the United States suffering?



    The obvious answer here is "YES." If you look at ANYTHING Democrats have tried to do for this country, you will see repeated cock-blocking by Republicans.....even on issues they originally came up with! It's all about who's "team" you're on with Republicans. Republicans see red whenever a Democrat is in office and will stop at nothing to keep them from doing anything good for the country. After Obama's election, many Republicans went on record saying they "hope he fails." Republicans are the most unpatriotic of all Americans. Ironically, much like the closet homosexual who is homophobic and commits hate crimes against gays, Republicans love using words like "patriotic", "freedom" and "liberty", and yet fight rabidly against these very issues. They are nothing short of terrorists against this nation. Make no mistake about it - Republicans are against everything they say they stand for.
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    Jun 04, 2011 2:32 PM GMT
    CuriousJockAZ said
    Christian73 said

    The causes of the financial crisis were decades in the making and had nothing to do with who controlled Congress in 2006.


    This is the only REAL truth of the whole matter of the economy. It's so easy to point fingers, but in reality there is plenty of blame to go around --- and this includes Republicans, Democrats, the American people's spending habits, our excessive aid to foreign countries, and a zillion other factors that brought the economy to where it is in 2011.



    +1
  • HndsmKansan

    Posts: 16311

    Jun 04, 2011 2:36 PM GMT
    It the numbers had improved..... and they will, the right wingers would have had a spin on it.. "not good enough", "the republican house is responsible for the improvement".... regardless, there wouldn't have been positive commentary.

    And as far as the above comment about no president being reelected "with these numbers"... while I think the numbers will improve, we certainly have one who will be re-elected.
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    Jun 04, 2011 2:36 PM GMT
    OldGeezer said
    dannylv said
    OldGeezer saidhttp://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3

    Now what lefties?


    im guessing you're gonna vote for sarah palin/donald trump on the next elections icon_neutral.gif


    I'm guessing that you've read very little of what I've written over the last few months



    I certainly can't blame him. I used to read everything you and everyone else here posted, but after a while you learn who speaks the Sarah Palin talk.....a couple of facts here and there, folded in gently with a buttload of lies.
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    Jun 04, 2011 3:13 PM GMT
    OldGeezer said
    If spite of the fact that obama has about as much to the deficit in his 2 1/2 years as Bush did in 8?

    And that "throughout" doesn't quite jive with:

    And this is after the longest uninterrupted period of job growth of 52 CONSECUTIVE months and GDP growth of 26 CONSECUTIVE quarters in our history,


    It's not that simple. Did jobs grow under Bush? Yes. Where they quality jobs that paid a living wage? Mostly not. And much of what kept the economy pumping along was the artificially low interest rates that the Fed has been pushing down for years now. Those rates entourage reckless speculation in securities and real estate, not to mention derivatives which later blew up.

    Bush also lost in the last 18 months of his presidency FAR more jobs than were created leaving him with a net negative.

    And the deficit has grown primarily due to a lack of revenue, which also started under Bush and despite the illusion that the Democrats controlled Congress and the Presidency, they never really had the super-majority (due to Lieberman, Nelson, Lincoln, etc.) to attack the recession in the way that FDR did. So what we ended up with was a mish-mash of Keynsian and Miltonian economics (stimulus but 45% of it in tax cuts) that couldn't right the economy.