Jobless Rate Climbs to 8.3 Percent, U.S. recovery weakest of any in the world since 1970, Creating More Anxiety for Left

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    Aug 03, 2012 3:30 PM GMT
    Why Romney's tax returns are now so important to the Obama Administration.

    http://danieljmitchell.wordpress.com/2012/08/03/jobless-rate-climbs-to-8-3-percent-creating-more-anxiety-for-obama-and-the-left/

    Indeed, we’re getting to the point where the monthly employment reports from the Labor Department must be akin to Chinese water torture for the Obama Administration. Even when the unemployment rate falls, it gives critics an opportunity to recycle the chart below showing how bad the economy is doing compared to what the White House said would happen if the so-called stimulus was enacted.

    But for the past few months, the joblessness rate has been rising, making the chart look even worse.

    obama-unemployment.jpg
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    Aug 03, 2012 3:50 PM GMT
    http://www.aei-ideas.org/2012/07/u-s-recovery-weakest-of-any-in-the-world-since-1970/

    073112recovery1-553x338.jpg

    The Obama administration says one reason the U.S. economic recovery has been so slow is that it is still suffering from the aftermath of the financial crisis. But the U.S. is not the first country to suffer a recession and a financial crisis. And the U.S. recovery is doing worse than all of them.

    In a new research note, JPMorgan points out that since 1970, Japan, Finland and Sweden have all gone through what the U.S. is currently going through. And all three of them had recoveries stronger than America’s. The above chart compares the economic recovery — as measured by real GDP per capita — of each nation at different points after the trough of their recessions. And the U.S. is in dead last after 12 quarters from the bottom.

    You should particularly note how the U.S. is doing versus Japan, another large, advanced economy. As JPMorgan economist Michael Feroli notes:

    "The poster child for slow growth coming out of a debt-fuelled financial crisis has to be Japan, which ever since the early 1990s has had trouble getting a head of steam. The recession which kicked off Japan’s “lost decade” lasted from 1991 to 1993. Including the recovery experience from that recession is sobering: we are currently faring worse than Japan at the same point in their lost decade."
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    Aug 03, 2012 4:04 PM GMT
    This is neither rocket science, nor is it surprising. Comparing this "recovery" with those in the past blows his pathetic "it's not my fault" BS completely out of the water. Also, when you realize during his first two years the Dems could ram through whatever they wanted (e.g. Obamacare) the excuse of Republican obstructionism is equal BS.

    http://www.realjock.com/gayforums/2562582/
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    Aug 03, 2012 4:33 PM GMT
    socalfitness saidThis is neither rocket science, nor is it surprising. Comparing this "recovery" with those in the past blows his pathetic "it's not my fault" BS completely out of the water. Also, when you realize during his first two years the Dems could ram through whatever they wanted (e.g. Obamacare) the excuse of Republican obstructionism is equal BS.

    http://www.realjock.com/gayforums/2562582/


    Who else could they blame other than Bush?
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    Aug 03, 2012 9:50 PM GMT
    GordonLee90232 saidI read on the news paper web site here in Los Angeles today that the real unemployment rate is now 20% in my state and in the country it is 14% so I think you might have the wrong number when you put in the title that the unemployment rate is 8.3% because it is really much higher than that.


    Yeah underemployment is far far higher.
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    Aug 04, 2012 1:25 PM GMT
    http://www.aei-ideas.org/2012/08/july-jobs-report-americas-labor-market-depression-continues/

    Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed.


    080312jobschart1-600x306.jpg
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    Aug 04, 2012 1:58 PM GMT
    530202_10151075275624481_1086329984_n.jp
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    Aug 04, 2012 2:26 PM GMT
    It'd be funny if it weren't so sad.

    "For the Thirty-First Time, Obama White House Says ‘Don’t Read Too Much’ Into a Bad Jobs Report"

    http://pjmedia.com/tatler/2012/07/06/thirty-times-the-obama-administration-admonished-americans-not-to-read-too-much-into-a-montly-jobs-report/
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    Aug 04, 2012 3:01 PM GMT
    SaturdayJock saidObama is a complete economic disaster (among other things that he has destroyed as well).

    The fact that he has gone after the coal industry, even though they have adopted clean-burning technologies, supported oil drilling in countries such as Brazil and Mexico, demonstrate he is driven more by a desire to see wealth flow out of the US than global environmental concerns. More examples of Obama's War on America. This malignancy cannot be voted out soon enough.
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    Aug 05, 2012 2:59 AM GMT
    riddler78 said
    socalfitness saidThis is neither rocket science, nor is it surprising. Comparing this "recovery" with those in the past blows his pathetic "it's not my fault" BS completely out of the water. Also, when you realize during his first two years the Dems could ram through whatever they wanted (e.g. Obamacare) the excuse of Republican obstructionism is equal BS.

    http://www.realjock.com/gayforums/2562582/


    Who else could they blame other than Bush?


    Hoover?
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    Aug 05, 2012 7:00 AM GMT
    socalfitness said
    SaturdayJock saidObama is a complete economic disaster (among other things that he has destroyed as well).

    The fact that he has gone after the coal industry, even though they have adopted clean-burning technologies, supported oil drilling in countries such as Brazil and Mexico, demonstrate he is driven more by a desire to see wealth flow out of the US than global environmental concerns. More examples of Obama's War on America. This malignancy cannot be voted out soon enough.


    I think this far overstates it given that there are other factors at play but there's also this:

    http://www.aei-ideas.org/2012/08/economic-forecasting-model-predicts-obama-will-lose-in-near-landslide/
  • HottJoe

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    Aug 05, 2012 3:01 PM GMT
    So, this where the conservaposse has been gathering. icon_rolleyes.gif
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    Aug 05, 2012 3:37 PM GMT
    HottJoe saidSo, this where the conservaposse has been gathering. icon_rolleyes.gif


    Wherein this can also be recognized as the thread the leftists would rather ignore.
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    Aug 05, 2012 5:20 PM GMT
    SundayJock said
    riddler78 said
    HottJoe saidSo, this where the conservaposse has been gathering. icon_rolleyes.gif


    Wherein this can also be recognized as the thread the leftists would rather ignore.


    Of course - the liberals here on RJ are DENY the truth as they are blinded by their leftist brainwashing.


    Did you also notice how a lot of bad economic news is accompanied by the words "unexpectedly" despite the fact a lot of these economic decisions were recognized by many policymakers as being temporary in nature when they were done a few years ago?
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    Aug 07, 2012 12:40 AM GMT
    Looking at the data, it gets worse:

    "The Obama recovery isn’t worse than just the Reagan recovery, but also worse than the Teddy Roosevelt and Grover Cleveland recoveries"

    http://www.aei-ideas.org/2012/08/the-obama-recovery-isnt-just-worse-than-the-reagan-recovery-but-also-worse-than-the-teddy-roosevelt-and-grover-cleveland-recoveries/
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    Aug 07, 2012 12:56 AM GMT
    riddler78 saidLooking at the data, it gets worse:

    "The Obama recovery isn’t worse than just the Reagan recovery, but also worse than the Teddy Roosevelt and Grover Cleveland recoveries"

    Guess their lying is going to have to go into overdrive while they try and paint a rosy picture.
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    Aug 07, 2012 2:02 PM GMT
    Gallup: Economic Confidence Slips in July, for Second Month in a Row

    http://www.gallup.com/poll/156452/Economic-Confidence-Slips-July-Second-Month-Row.aspx?version=print

    Gallup's Economic Confidence Index averaged -26 in July, a decline from -22 in June, and close to the 2012 low of -27 measured in January. Economic confidence improved during the first five months of the year, but July marks the second monthly decline in a row. Still, the index remains significantly higher than the -42 from July of a year ago.
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    Aug 07, 2012 2:34 PM GMT
    Finally!


    Something real to talk about.

    I am genuinely interested in what a President is able to do to - EXACTLY - to improve those numbers - and how that would work.


    I live in a microeconomic zone that has similar challengesand we are NOW shaping the policies that we are counting on to bring prosperity.


    This is a genuine opportunity for |RJs to go beyond mindless propaganda games filling this forum. SOME of you guys have genuine ideas to be heard and taken seriously in the REAL WORLD - you have a chance here.

    Just as the American parties are picking their election candidates, so too is two provincial parties: one them is going to the next Premier or Leader of the Opposition of Prince Edward Island in 2015.

    It is the smallest province in Canada geographically and in population.

    Indstry is mostly agricultural and aquacultural. Fuel costs are the highest in the country and represents the biggest business expense above salaries. Land is fully exploited and developed. No mineral resources or stone.
    Tourism is the third largest sector.
    Thus first and third largest employment sectors are seasonal. - 10-12 weeks high earnings then nothing for he rest of the year.

    This has created a never ending cycle of govt doing a lot of road crew hiring for just long enough so people can qualify for EI benefits over the winter.


    It is no longer (and has never been sustainable)

    govt has offered incentives for other industries. A few low paying call centres
    and huge investments into biotechnology parks that are still empty.





    I have a few ideas already.





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    Aug 07, 2012 2:38 PM GMT
    starts with trying to reducing the number of MLAs with civil service reform.

    (fewer bosses - more people doing the work and fair hiring (out of hands of the MLAs)
  • jock_1

    Posts: 1491

    Aug 07, 2012 10:56 PM GMT
    Funny how the democrats and Obama are anti business yet they say they are all for creating jobs. Tax, tax, tax, regulations, regulations, regulations, mandates, mandates, mandates. Democrats arent good at anything except screwing up the country. Please just go away and let the conservatives and republicans fix things again.
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    Aug 07, 2012 11:01 PM GMT
    jock_1 said Please just go away and let the conservatives and republicans fix things again.


    Aww, sounds just like a Disney cartoon plot (and about as credible).
  • jock_1

    Posts: 1491

    Aug 07, 2012 11:08 PM GMT
    better yet, plan a 8 year golf vacation with Obama after November. The conservatives and republicans should have the country fixed by then.