Dismal September Jobs Numbers Released

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    Oct 22, 2013 1:55 PM GMT
    The Obama economic recovery plan is picking up steam!

    From WTOP.com:

    U.S. employers added just 148,000 jobs in September, suggesting the job market was weakening before a 16-day partial government shutdown.
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    Oct 22, 2013 2:57 PM GMT
    The numbers are dismal, but not unexpected. The US has experienced three great financial meltdowns since the Civil War and the establishment of modern finance: the Panic of 1893, the Great Depression and the Great Recession of 2008. The Panic of 1893 took 7 years to recover from, the Great Depression took even longer. It is little wonder that the last is taking a long time.
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    Oct 22, 2013 3:08 PM GMT
    neuergriff1 saidThe numbers are dismal, but not unexpected. The US has experienced three great financial meltdowns since the Civil War and the establishment of modern finance: the Panic of 1893, the Great Depression and the Great Recession of 2008. The Panic of 1893 took 7 years to recover from, the Great Depression took even longer. It is little wonder that the last is taking a long time.


    And the growth rate out of the even deeper 1980-82 recession (as compared to this one) ? So you don't want to talk about that one? Why?
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    Oct 22, 2013 3:12 PM GMT
    Recessions are a normal process of our economic system and the recession of the 1980 while severe did not almost collapse our financial system where investment banking ground to a halt as did everyday banking between banks.
  • HottJoe

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    Oct 22, 2013 3:15 PM GMT
    The tea party sideshow is distracting everyone from tackling real challenges.
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    Oct 22, 2013 3:18 PM GMT
    neuergriff1 saidThe banking and financial structures of the US did not almost collapse in the 1980's. These three great crisis almost broke our entire economic system.


    But we had interest rates of almost 18% and double digit inflation .... but frankly the big thing that you don't want to talk about is that we had ..... shhhhhhh .... a republican president ..... shhhhhh .... at the helm coming out of that one.
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    Oct 22, 2013 3:26 PM GMT
    But again, in the 1980 recession, the underlying economic foundation remained sound. The 2008 crisis was so severe it turned the GOP from a party of social conservatives to a party of conservative socialists with the GOP leading he way with TARP. The problem was so severe that without the Federal government acting, even so called "safe" money market funds would loose their value. Breaking the value of these deposits was something which would cause panic. Hank Paulsen this year admitted he simply did not know what to do in 2008. In testimony about the 2008 crisis, Greenspan in 2010 stated the economic model he used his entire life had severe systemic problems. This type of fundamental crisis did not happen in 1980.

    One could argue, albeit far for me to do so :-), is that in the 1980's Congress while disagreeing with Reagan on policy recognized that in a recession, the nation had to work together. In the current environment, the GOP has led us twice to the verge of default not caring about the greater consequences.

    Senator George Voinovich (R.OH) was quite explicit in providing the history of how from the day Obama became President, his actions would be blocked.
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    Oct 22, 2013 3:42 PM GMT
    neuergriff1 saidBut again, in the 1980 recession, the underlying economic foundation remained sound. The 2008 crisis was so severe it turned the GOP from a party of social conservatives to a party of conservative socialists with the GOP leading he way with TARP. The problem was so severe that without the Federal government acting, even so called "safe" money market funds would loose their value. Breaking the value of these deposits was something which would cause panic. Hank Paulsen this year admitted he simply did not know what to do in 2008. In testimony about the 2008 crisis, Greenspan in 2010 stated the economic model he used his entire life had severe systemic problems. This type of fundamental crisis did not happen in 1980.

    One could argue, albeit far for me to do so :-), is that in the 1980's Congress while disagreeing with Reagan on policy recognized that in a recession, the nation had to work together. In the current environment, the GOP has led us twice to the verge of default not caring about the greater consequences.

    Senator George Voinovich (R.OH) was quite explicit in providing the history of how from the day Obama became President, his actions would be blocked.


    Maybe that's because Reagan had some talent and some of that talent was bringing disparate parties together for the good of the nation and forming a good working relationship with the Speaker and senate majority leader.

    Of course, some of 'his' ideas couldn't have been too foreign to Democrats since JFK essentially did the same thing with regards to tax cuts to get the economy moving along in 61.
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    Oct 22, 2013 3:43 PM GMT
    I predict that the Obama economic recovery will end either in November of 2014 or November of 2016.

    BTW... it's interesting that of the people who try and deflect by pointing out "worse" recoveries they don't explain why THIS recovery is so bad. All we hear from them is "it's Bush's fault" or "it's the Republican's fault."

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    Oct 22, 2013 3:48 PM GMT
    HottJoe saidThe tea party sideshow is distracting everyone from tackling real challenges.

    This is the answer. If republicans would put the best interests of the country above their parties hate for Obama, this country would be shockingly powerful economically speaking.
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    Oct 22, 2013 3:49 PM GMT
    smartmoney said
    HottJoe saidThe tea party sideshow is distracting everyone from tackling real challenges.

    This is the answer. If republicans would put the best interests of the country above their parties hate for Obama, this country would be shockingly powerful economically speaking.


    Yep, "it's the Republican's fault." icon_rolleyes.gif

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    Oct 22, 2013 3:55 PM GMT
    smartmoney said
    HottJoe saidThe tea party sideshow is distracting everyone from tackling real challenges.

    This is the answer. If republicans would put the best interests of the country above their parties hate for Obama, this country would be shockingly powerful economically speaking.


    Problem is that 'we' don't feel his ideas are best for the country ... quite to contrary actually.