T Nation

US Unemployement Double Digits


#1

New report is due today and is expected to hit 9.2% and continue to rise above 10% peaking in the second half of next year (mid-term election anyone?) Does anyone believe his recovery plan is working?

And look at his fuzzy math on jobs saved...

http://goodtimepolitics.com/2009/04/30/obama-we-have-already-saved-or-created-over-150000-jobs-us-has-lost-more-than-12-million-jobs-since-obama-took-office/

OBAMA: We began by passing a Recovery Act that has already saved or created over 150,000 jobs. from news conference.

THE FACTS: This assertion is dubious on several levels. For starters, the U.S. has lost more than 1.2 million jobs since Obama took office, according to the Bureau of Labor Statistics. Even if Obamas stimulus bill saved or created as many jobs as he says, that number is dwarfed by the number of recent job losses

He claims his stimulus has resulted in this after spending only $19B of it http://www.hispanicbusiness.com/news/2009/5/28/obama_upbeat_about_stimulus_but_not.htm

Thats 19B for 150000 people, average is $126,666 per job saved.


#2

He's both a liar and a simpleton.


#3

The stimulus plan was, is, and always will be a joke. Giving people hope of free money and then not doling it out for a year is the anti-stimulus. It keeps them from spending money on planned projects until they can get denied stimulus money. My segment of the telecom market has been almost 100% stalled since the the telecom stimulus package was announced. Funny thing is most won't get a dime when the money is finally released a year later. It is going to be gobbled up by state make-work projects and political pork.

So companies with possitive revenue trends over the last 5 or 6 years are now laying people off left and right. In telecom this has absolutly nothing to do with the recession. We were continuing to grow until the stimulus plan was announced. I am one of the few lucky ones that works for a company that has still made some small progress. Our competitors and partners have not faired so well.


#4


ORLY?

Those numbers be lying.


#5

Reports this morning are saying unemployment hit 9.4% for May 2009. Has been slowing since September and the resession should end this year, but recovery will be slow. The report also states that if one includes laid-off worker who have stopped looking or settled for part time the rate would be 16.4%. Plus the average work week has dropped to 33.1%. Not a very pretty picture anyway you look at it.


#6

Isn't unemployment good for the crime rate? Get ready for more crime, and therefore more public outcry for more police, and tolerance of more police acting out of line. Things seem to be progressing nicley for the NWO, won't be long now. I'd say we do have another year or two before they declare themselves. But by then it's going to be only two options, Lay on your back with your belly up to them as they command you, or fight them.

How else can you seriously explain Obamas actions. This is not him fucking up, his absolute and total reversal of some of his most important talking points in the campaign. This is deliberate, planned, and he isn't giving the orders. Mcain would be doing exactly the same thing, only he would have broken a slightly different set of talking points and campaign promises. Even though the government can not fix the economy, at the very least, they could slow the fall and minimize the damage, with very careful positioning of the money they stole. But this isn't happening. To me it sure feels like they have thier foot on the accelerator, driving us deeper and faster into total economic collapse. This latest economic optimism by the MSM is also a ruse. It doesn't hurt as much if you see it coming, they are going to get the masses feeling good again and then drop the other shoe on them. Shock and Awe on the economic front. Having the light at the end of the tunnel turn into a train will make a lot of problems for every day people. It's going to get very bad.

V


#7

The economy is continuing to slide and the velocity it is falling is directly related to the stimulus at this point.


#8

I like how we are worse off that the catastrophic predictions of sans stimulus, yet we have â??stepped back from the edgeâ??.


#9

For the record, this is completely true.


#10

I am no Mc Cain fan and I did not vote him, but this is doubtful.


#11

McCain is a puppet and would not be doing much differently. The government could have minimized the damage by not bailing out some of the financial instutions, letting Chrysler and GM go bankrupt early on (rather than dump billions into them, then they still go bankrupt) and suspending income and gasoline taxes.


#12

A drop in treasuries like this is huge. Inflation is the result of the government spending we are being subjected to. The money is being wasted not put into productive assets.


#13

Good times ahead for army recruiters!


#14

Things really get bad and they'll be turning loads of people away. For any of the military guys, how old can you be and still inlist?


#15

The Recovery Act was sold as an antidote to prevent catastrophe - ignore for a second that is exactly the kind of "politics of fear" that is supposed to be bad politics - and we still get 10% inflation.

And, if you get the chart with Obama's own projections, the 10% unemployment mark was the scenario that occurred if we didn't pass his Recovery Act abomination.

Our Treasury auctions are looking more and more like yard sales with no customers looking though our junk, and the Obama administration keeps the printing presses on overdrive.

For all the devotion to "sustainability", the current economic approach offered by the Democrats is about nothing except satisfying short-term interests right now at the expense of generations down the road.

We need to start electing adults into higher office, regardless of party.


#16

And this time it will be much different than the last time!

HAHAHAHAHAHAHAHAHAHA!!!

Good luck with that. Don't you know politicians cannot fix anything? These are just people who like to talk and tell other people how they think they should live. Politics isn't the solution to anything.


#17

I think this needs to be highlighted. We still hit the mark after all. However, we've now paid good money (we don't have) for it.


#18

No shit, it already cleared that and its gunning for 20% in certain spots of California


#19

The black lines are the actual unemployment numbers for April and May 2009, while the blue lines were the projected unemployment numbers for April and May 2009, made in January 2009, is absence of the economic stimulus.

The actual unemployment numbers for May 2009, after the Stimulus was passed, were higher than the projected unemployment numbers for May 2009 if the stimulus was NOT passed.

Obama's economists projected back in January that unemployment in April and May 2009 without the Stimulus would be about 8%. With the stimulus, unemployment was projected to be about 7.75% right now.

The actual numbers came in at 8.9% for April, and 9.4% for May, obviously included the mountain of money spent on the stimulus.

Oops...


#20

Conclusion: no one in government knows what the fuck they are talking about.

Situation normal.