Obama's destruction of the economy continues!

[Nice Squirrel]

http://money.cnn.com/2015/07/02/news/economy/us-jobs-report-june-223000/index.html

U.S. unemployment fell to 5.3%, its lowest level since April 2008, according to the latest government data released Thursday. It was an even healthier rate than many economists predicted and brings America back to a rate last seen before the financial crisis.

Hiring remains robust: the U.S. added 223,000 jobs in June. Thursday's news was slightly below the prediction from CNNMoney's survey of economists, which projected there would be 235,000 jobs added.


...After years of waiting, the Federal Reserve could raise interest rates in September for the first time since 2006. A rate hike would be a healthy sign that the economy is almost fully recovered from the Great Recession.

IMPEACH!!!!

 

[dismal]

Hooray, yet another big win for capitalism!

Another special thanks to all the job creators.

 

[PyramidHead]

Hooray, yet another big win for capitalism!

Another special thanks to all the job creators.

As a consumer whose disposable income has increased by 15% since joining the public sector 15 months ago, you're quite welcome sir!

 

[SimpleDon]

Hooray, yet another big win for capitalism!

Another special thanks to all the job creators.

Yes, the job creators, the wage earners, are finally clawing back from the disaster of 2008 caused by the job destroyers of Wall Street and their mortgage backed securities financial crisis.

Not only do we see the unemployment numbers improve we are finally seeing some hint of an improvement in wage growth. From the Atlanta Fed.

​

This is where the small but encouraging improvement in the economy has come from.

Obviously this will cut into profits. Profits that Wall Street needs to generate the next job killing but profit increasing financial crisis and recession. It is time to head off this trend and to increase interest rates. [/sarcasm]

 

[untermensche]

Obama is just lucky.

Capitalism meanders up and down continually. Constantly creating a few winners and many losers.

It is a crap shoot.

No way for a rational species to behave.

 

[Ford]

This Obama guy...he is one ballsy mo fo.

I mean, we know for a fact that when he was elected, he had a plan in place to nationalize industry (starting with the auto manufacturers) which would lead to socialism, mass gun confiscation, patriots being led away to FEMA camps, and his brown shirted thugs terrorizing everyone else. Then as a kicker he was going to force everyone to convert to Islam and implement death panels for those who wouldn't bow to Mecca.


But if you'd told me back in late 2008 that he was going to accomplish this all in the last 18 months of his second term, I would have laughed and said "second term?! He's going to declare himself President-for-life before the 2012 election season gets going and he'll cancel democracy!"

This fucking guy, tho...he waits like the stone cold bad ass he is, and lets us all think we had an election or two, fools us into thinking we've had like years of job growth or something, and doesn't confiscate a single gun or major manufacturing sector! That's the brilliance of it all. He's got this country so lulled into a false sense of security what with the "economic recovery" and such, that we'll all be asleep at the wheel when he finally declares martial law and makes himself dictator.


Well played, Kenyan Marxist. Well played.

 

[TV and credit cards]

Hooray, yet another big win for capitalism!

Another special thanks to all the job creators.

Yes, the job creators, the wage earners, are finally clawing back from the disaster of 2008 caused by the job destroyers of Wall Street and their mortgage backed securities financial crisis.

Not only do we see the unemployment numbers improve we are finally seeing some hint of an improvement in wage growth. From the Atlanta Fed.

View attachment 3389​

This is where the small but encouraging improvement in the economy has come from.

Obviously this will cut into profits. Profits that Wall Street needs to generate the next job killing but profit increasing financial crisis and recession. It is time to head off this trend and to increase interest rates. [/sarcasm]

I reckon this means we've whittled down the file of people who gave up looking and this is the actual number.

Hooray,
Public Sector Employee

 

[boneyard bill]

http://money.cnn.com/2015/07/02/news/economy/us-jobs-report-june-223000/index.html

U.S. unemployment fell to 5.3%, its lowest level since April 2008, according to the latest government data released Thursday. It was an even healthier rate than many economists predicted and brings America back to a rate last seen before the financial crisis.

Hiring remains robust: the U.S. added 223,000 jobs in June. Thursday's news was slightly below the prediction from CNNMoney's survey of economists, which projected there would be 235,000 jobs added.


...After years of waiting, the Federal Reserve could raise interest rates in September for the first time since 2006. A rate hike would be a healthy sign that the economy is almost fully recovered from the Great Recession.

IMPEACH!!!!

This article is complete horseshit. He even goes so far as to refute the claims that he makes. The unemployment rate is down, but that is due largely to a decline in the labor force. In other words, the decline is due to the government's statistical policies and not to the reality on the ground. Yes, new jobs were created, but most of them were part-time. Again, the decline is due to the way the government counts not to robust economic growth. The US is now headed in the direction to lead the world's economy as the rest of the world slides into recession. What a joke! The US isn't going to buck that trend. We are not going to grow rapidly in the face of declines in our export market.

That much I can say based on the article itself. There is much more bad news that is not reported here. The Dow Transport index is way down. That indicates goods be shipped for eventual sale, and the answer is, they aren't. The Baltic Dry Index is also down even below 2008 levels. That's a measure of the purchase of raw materials. You need raw materials to made finished goods. They aren't being made. They aren't being shipped. And that's a pretty good indication that they won't be sold.

No way is the Fed going to raise interest rates in September. OK. I can't preclude the possibility of a token increase of .25% or something like that in short term rates, but certainly there will be no significant increase in the long-term rate unless the Fed loses control of those rates. (Which is a real possibility). An increase in long-term rates would explode the long term bond bubble which the Fed has created. And a bursting of the bond bubble would be many times larger that the popping of the real estate bubble back in 2008.

Meanwhile, first quarter growth was negative, and there's a very good chance that second quarter growth will also be negative. We won't know until the end of July. But if the second quarter is bad, it would be two no-growth quarters in a row and that meets the technical definition of a recession.

However, we've actually never been in a recovery. The government consistently understates inflation which results in consistently overstating economic growth numbers.

The Fed is in a bind. Their ridiculous program of "quantitative easing" (a euphemism for printing money), has failed to stimulate the economy. But they've pushed interest rates so low that they're below the rate of inflation. So you can't push them any lower. So what now? They don't dare raise interest rates unless we get a robust recovery which QE has failed to produce. So they're pretending that QE actually IS working, and they're talking about raising interest rates. But really, they can't be serious. Come September they'll say it's still just a wee bit too early, but we'll raise interest rates sometime in the near future. They're kicking the can down the road because they just don't know what else to do.

 

[Ford]

http://money.cnn.com/2015/07/02/news/economy/us-jobs-report-june-223000/index.html



IMPEACH!!!!

This article is complete horseshit.

Yeah. The US economy is exactly where it was five years ago. The entire recovery is bullshit, the unemployment rate is still 10 percent, the Dow isn't really just shy of 18 thousand, and nothing has worked. We're just sitting here like Greece, Spain, Italy, and all the other failing economies waiting for a libertarian to unleash the magic of the free market to save us from ourselves.

 

[Tom Sawyer]

But the dollar is about to crash and we'll all move to gold, right?

 

[Ford]

But the dollar is about to crash and we'll all move to gold, right?

Well if we're smart, yeah. Gold is where it's at. And ammo. Can't stock enough ammunition to fight Obama's brown-shirted thugs when the time comes.

 

[fromderinside]

But the dollar is about to crash and we'll all move to gold, right?

Well if we're smart, yeah. Gold is where it's at. And ammo. Can't stock enough ammunition to fight Obama's brown-shirted thugs when the time comes.

Both dead wrong.

Its about consumers and consumers means women.

Ragheads have it right with their multi-wife arrangements.

Hell they even have 72 fixed up for the martyrs. Pop out those babies, consume on earth, consume in heaven, consume up the wazzo (gotta give rainbows a shout out yano), until there isn't enough water then rapture and its back to Christianity.

Yeah Gerry (Falwell, that is).

I don't want those California Jerry lovers going on a rampage. That might F**k things for Jeb ! (who the heck has an explanation ((sic), re-edited it but it looks just right to me) mark for a last name anyway?)

Woo woo just in case.

 

[Loren Pechtel]

This article is complete horseshit.

Yeah. The US economy is exactly where it was five years ago. The entire recovery is bullshit, the unemployment rate is still 10 percent, the Dow isn't really just shy of 18 thousand, and nothing has worked. We're just sitting here like Greece, Spain, Italy, and all the other failing economies waiting for a libertarian to unleash the magic of the free market to save us from ourselves.

The unemployment rate hasn't improved nearly as much as it looks like. Most of the "improvement" is due to people dropping out of the labor market or getting part time work. When a full-time position disappears and is replaced with two half-time positions the unemployment rate goes down by one but did the situation actually improve??

I'm not going to be as harsh about it as the Obama-bashers but neither is it anything like as good as the numbers portray it as.

 

[untermensche]

Yeah. The US economy is exactly where it was five years ago. The entire recovery is bullshit, the unemployment rate is still 10 percent, the Dow isn't really just shy of 18 thousand, and nothing has worked. We're just sitting here like Greece, Spain, Italy, and all the other failing economies waiting for a libertarian to unleash the magic of the free market to save us from ourselves.

The unemployment rate hasn't improved nearly as much as it looks like. Most of the "improvement" is due to people dropping out of the labor market or getting part time work. When a full-time position disappears and is replaced with two half-time positions the unemployment rate goes down by one but did the situation actually improve??

I'm not going to be as harsh about it as the Obama-bashers but neither is it anything like as good as the numbers portray it as.

Yes, all Obama did was turn the dog shit Republican economy around and make it better. Clinton did the same thing before him.

But that isn't hard. Republican economics is truly dog shit with policies based on absolutely no real world data. Voodoo economics is the perfect phrase.

 

[Nice Squirrel]

As it was in 1982, as it is today. We are on the precipice of disaster looking down into the Keynesian nightmare.

 

[fromderinside]

What baffles me is how Arthur's curve gets so many republicans backing him. Every time it's pitched it gives up a home run to Keynes.

 

[Ford]

Yeah. The US economy is exactly where it was five years ago. The entire recovery is bullshit, the unemployment rate is still 10 percent, the Dow isn't really just shy of 18 thousand, and nothing has worked. We're just sitting here like Greece, Spain, Italy, and all the other failing economies waiting for a libertarian to unleash the magic of the free market to save us from ourselves.

The unemployment rate hasn't improved nearly as much as it looks like. Most of the "improvement" is due to people dropping out of the labor market or getting part time work. When a full-time position disappears and is replaced with two half-time positions the unemployment rate goes down by one but did the situation actually improve??

I'm not going to be as harsh about it as the Obama-bashers but neither is it anything like as good as the numbers portray it as.

It never ceases to amaze me. When the unemployment rate is low under a Republican, it is taken as undeniable proof that "free market" principles work. When it is high under a Democrat, it is taken as proof that "free market" principles need to be applied.


When it drops steadily after years of said Democrat's policies, it is taken as undeniable proof that the entire methodology behind the number is faulty and things are in fact terrible. Solution? Let the free market loose!

 

[fromderinside]

Let the free market loose!

You lost the free market?

 

[Loren Pechtel]

The unemployment rate hasn't improved nearly as much as it looks like. Most of the "improvement" is due to people dropping out of the labor market or getting part time work. When a full-time position disappears and is replaced with two half-time positions the unemployment rate goes down by one but did the situation actually improve??

I'm not going to be as harsh about it as the Obama-bashers but neither is it anything like as good as the numbers portray it as.

Yes, all Obama did was turn the dog shit Republican economy around and make it better. Clinton did the same thing before him.

But that isn't hard. Republican economics is truly dog shit with policies based on absolutely no real world data. Voodoo economics is the perfect phrase.

Yeah, we have turned around. It's just we haven't made nearly the progress the numbers would appear to show. We are a hell of a lot better off than we would be with a Republican president.

- - - Updated - - -

It never ceases to amaze me. When the unemployment rate is low under a Republican, it is taken as undeniable proof that "free market" principles work. When it is high under a Democrat, it is taken as proof that "free market" principles need to be applied.


When it drops steadily after years of said Democrat's policies, it is taken as undeniable proof that the entire methodology behind the number is faulty and things are in fact terrible. Solution? Let the free market loose!

I think much of it is that neither side really is about letting the market loose. They just want to control it in different ways.

 

[boneyard bill]

But the dollar is about to crash and we'll all move to gold, right?

A very real possibility.