Quit picking on Obama……

[Walter]

US job losses spike in June, dampen recovery hopes

• Reuters, Thursday July 2 2009

* Drop in non-farm payrolls much larger than expected
* Jobless rate hits 9.5 percent, highest since August 1983
By David Lawder
WASHINGTON, July 2 (Reuters) - U.S. employers cut far more jobs than expected last month and the unemployment rate hit 9.5 percent, the highest in nearly 26 years, underscoring the likelihood of a long, slow recovery from recession.
The loss of 467,000 jobs reported by the Labor Department on Thursday was 100,000 more than Wall Street economists had expected, with virtually no sector of the economy spared.
Since the economy fell into recession in December 2007, 6.5 million nonfarm jobs have been lost and the unemployment rate has nearly doubled.
"It looks like the economy was still losing substantial momentum as the second quarter came to a close. This report is weak across the board," said William Sullivan, chief economist at the JVB Financial Group in Boca Raton, Florida.
U.S. stock prices fell, with the Dow Jones industrial average down 2 percent by afternoon as investors worried the data darkened the recovery outlook. Prices for safe-haven U.S. government debt rose.
The rise in the U.S. jobless rate from May's 9.4 percent took it to its highest level since August 1983. In a further indication of weakness, the report showed the length of the average workweek shrunk and wages were flat last month.
"The labor market is still in shambles," said economist Harm Bandholz of Unicredit Markets & Investment Banking in New York.
U.S. businesses have slashed payrolls sharply in an effort to protect their bottom line in the face of a plunge in consumer demand.

 

[ironsides]

Rasmussen is a pollster of the far right; he worked for the extreme right website, WorldNetDaily for a while. His polling tends to be highly biased.

Just 3 or 4 days before the presidential election he showed the race to be a statistical dead heat, too close to call. As it happened, Obama won by a large margin, by 7%. White not exactly a landslide, it was a comfortable victory.

Rasmussen polls are biased; I wouldn’t put any trust in Rasmussen.

Polls only show the results their creators want to see. NBC is a left wing news org. FOX is right, so which you you quote? Is there a real centrist/neutral poll out there?

I do know that the U.S. middle class are for the most part against Obama's economic policies, and of course the poor who have nothing are in favor of him.

 

[captain morgan]

I only quoted the first portion of your post SJP as the remainder was straight from the propaganda desk at the democratic central politburo

Captain, I noticed this gem just now and couldn’t resist commenting on it. democratic central politburo? Surely you can do better than that. I have been referring to the Conservative Party’s central office as The Politburo for a long time now.

Now, they do say that imitation is the sincerest form of flattery, and I am flattered. But surely you could come up with a different epithet for the Democratic central committee?

Don't get too far ahead of yourself on this SJP. My reference to the central politburo extends exclusively as a tribute to the former communist regimes that constantly referred to themselves as 'Democratic People's Republics' etc..

That said, it is very fitting that this topic is raised in this particular thread as Obama is moving at light speed in transforming the United States of America into 'the Democratic People's Republic of the United States'.

 

[ironsides]

07/02/2009
U.S. Representative Robert Wexler (D) Florida's 9th District.

About 50 people represented by Robert Wexler were turned away from his office by police and House security when they tried to speak to him about the Clean Energy and Security Act. There was no violence and everyone went away.

Democratic BS: "(Washington, DC) Today, Congressman Robert Wexler (D-FL) voted with a majority of his colleagues in the House of Representatives to pass the American Clean Energy and Security Act of 2009. This legislation will spur the development of renewable energy industries and create thousands of new jobs in America, reduce carbon emissions that contribute to global warming, and help America achieve independence from foreign oil. The bill also enacts a market-based solution to reducing carbon emissions by allowing companies to purchase and trade renewable energy credits. An independent, bipartisan analysis by the Congressional Budget Office has concluded that this “cap and trade” program will cost Americans less than 40 cents a day by 2012." More like 4-5 thousand dollars per year per person. Is 1776 repeating itself, just with different characters.

 

[gopher]

and what is the approval rating for Palin and the Pukes?

 

[captain morgan]

Palin isn't so worried about that right now. Obama and the Democrats are slf-destructing along with the economy.

Unemployment was just announced at 9.5% tonight and the expectation is around 10.5 - 11%.... Grim results and probably the death knell for the dems.

 

[gopher]

''Right and far right have a visceral hatred of Obama. They decided long time ago that he is a Muslim terrorist, a Fascist, a Communist, a Socialist, an illegal alien and so on. He has been compared to Stalin, to Hitler, to practically every dictator imaginable. To my knowledge, no far right columnist has compared him to Mao, but give them time.''



Obama has done nothing to undermine the government of the United States. Yet, the far right lunatics on this forum have accused him of being all that and more while taking me to task for calling those who illegally deposed President Zelaya fascists.

 

[JLM]

Palin isn't so worried about that right now. Obama and the Democrats are slf-destructing along with the economy.

Unemployment was just announced at 9.5% tonight and the expectation is around 10.5 - 11%.... Grim results and probably the death knell for the dems.

Oooooh slow down a little there Capt. Hoover a Republican was at the helm when the World Depression hit & for four years thereafter when nothing much changed. Then in '34 F.D.R. a Democrat arrived on the scene and the country remained in depression for several more years and we don't know to this day whether F.D.R. fixed the situation - maybe Hitler had more to do with it. Anyway it's not fair (or realistic) to expect Obama to fix things in a few months and if McCain had been elected I don't suppose things right now would be much different.

 

[ironsides]

Try this if you do not think he has done wrong.

CNN Lou Dobbs Amnesty Bill's Worst Provision NAU

YouTube - CNN Lou Dobbs Amnesty Bill's Worst Provision NAU

Can you believe this crap. Think taxes are going high now, wait till this immigration bill gets thru our moronic congress.

 

[ironsides]

Try to keep in mind that the only reason FDR fixed the situation was because we got involved with WW-II, spending a lot of money we didn't have like we are doing now. Only difference is we are not in a world war. Will we need one in order to duplicate what FDR did? (hope not) That is what is different from then to now. Why is everyone so worried about Sarah Palin anyway, she had her chance at fame?

 

[captain morgan]

''Right and far right have a visceral hatred of Obama. They decided long time ago that he is a Muslim terrorist, a Fascist, a Communist, a Socialist, an illegal alien and so on. He has been compared to Stalin, to Hitler, to practically every dictator imaginable. To my knowledge, no far right columnist has compared him to Mao, but give them time.''

Obama has done nothing to undermine the government of the United States. Yet, the far right lunatics on this forum have accused him of being all that and more while taking me to task for calling those who illegally deposed President Zelaya fascists.

First off, this isn't about President Zelaya, Stalin, Hitler or Mao - It's about Obama and the direction that he is taking the USA... Complain all you like about how the conservative base isn't idolizing Obama in the same manner as yourself, but in politics, you'd best have very thick skin or not bother entering the game at all. In terms of Obama's presidency, he and the democrats are taking some wild risks and it seems that they are not panning-out.

Obama has committed trillions in hopes that it spurs/repairs the economy. As we are seing, it isn't working - yet (and you had better hope that it does). In the event that it somehow backfires, the edmocrats will have to raise more money to fix what they've done and start over... You bear in mind that the money that is earmarked for this doesn't (theoritically) exist at present... Take my word for it, the timeframe to pay this mistaken repair bill will be measured in terms of generations.

 

[JLM]

Try to keep in mind that the only reason FDR fixed the situation was because we got involved with WW-II, spending a lot of money we didn't have like we are doing now. Only difference is we are not in a world war. Will we need one in order to duplicate what FDR did? (hope not) That is what is different from then to now. Why is everyone so worried about Sarah Palin anyway, she had her chance at fame?

That is why I mentioned Hitler. (not that I would like to give him credit for ANYTHING)

 

[Walter]

Try this if you do not think he has done wrong.

CNN Lou Dobbs Amnesty Bill's Worst Provision NAU

YouTube - CNN Lou Dobbs Amnesty Bill's Worst Provision NAU

Can you believe this crap. Think taxes are going high now, wait till this immigration bill gets thru our moronic congress.

Has Dobbs been fired yet for showing these truths on CNN? Does anyone still watch CNN?

 

[SirJosephPorter]

Polls only show the results their creators want to see. NBC is a left wing news org. FOX is right, so which you you quote? Is there a real centrist/neutral poll out there?

I do know that the U.S. middle class are for the most part against Obama's economic policies, and of course the poor who have nothing are in favor of him.

Really ironsides? How about NBC/WSJ poll, is that the poll of the left or the right? After al, Wall Street Journal is a conservative paper.

I personally would disregard the polls put forth by the far right organizations such as Rasmussen, FOX etc. However, the polls put forth by mainstream agencies (NBC/WSJ, Gallop etc.) are by and large reliable polls. Especially polls like NBC/WSJ, which are sponsored by both the left and the right cannot be accused of bias.

It was the NBC/WSJ poll which showed the approval of Republican party at 25%, lower than that for Darth Vader (Dick Cheney).

 

[ironsides]

There are no news polls that are neutral. Here is something I read from 2007.
The Blame-America-First Crowd
Michael Barone
Monday, March 19, 2007


"They always blame America first." That was Jeane Kirkpatrick, describing the "San Francisco Democrats" in 1984. But it could be said about a lot of Americans, especially highly educated Americans, today.
In their assessment of what is going on in the world, they seem to start off with a default assumption that we are in the wrong. The "we" can take different forms: the United States government, the vast mass of middle-class Americans, white people, affluent people, churchgoing people or the advanced English-speaking countries. Such people are seen as privileged and selfish, greedy and bigoted, rash and violent. If something bad happens, the default assumption is that it's their fault. They always blame America -- or the parts of America they don't like -- first."
http://townhall.com/Common/PrintPage.aspx?g=09e92128-b24d-4603-907a-ff7699644aa2&t=c


Just a reminder, most of you are copying/agreeing with what the intellectually advantaged American rich said years ago.

 

[SirJosephPorter]

Obama has committed trillions in hopes that it spurs/repairs the economy. As we are seing, it isn't working - yet (and you had better hope that it does).

Give it time, Captain. There are early signs that the worst may be over.

In the event that it somehow backfires, the democrats will have to raise more money to fix what they've done and start over

Nothing of the sort. If it backfires, Republicans will come to power and it will be up to them to sort it out (if they cannot, of course they will get turfed out again). If it backfires, I seriously doubt that people will trust Democrats to fix it.

Take my word for it, the timeframe to pay this mistaken repair bill will be measured in terms of generations.

That was the case even before this, it was going to take generations to pay off the debt. And in case you have forgotten, Republicans were adding to the debt mightily every year, with their huge deficits.

Obama has simply accelerated the process for a couple of years, in order to try to save the economy. It remains to be seen if it works.

 

[ironsides]

Really ironsides? How about NBC/WSJ poll, is that the poll of the left or the right? After al, Wall Street Journal is a conservative paper.

I personally would disregard the polls put forth by the far right organizations such as Rasmussen, FOX etc. However, the polls put forth by mainstream agencies (NBC/WSJ, Gallop etc.) are by and large reliable polls. Especially polls like NBC/WSJ, which are sponsored by both the left and the right cannot be accused of bias.

It was the NBC/WSJ poll which showed the approval of Republican party at 25%, lower than that for Darth Vader (Dick Cheney).

I looked the NBC News/Wall Street poll and came across this. Looks like reality is setting in.

NBC News, Wall Street Journal Poll: Obama Honeymoon Ending

 

[Walter]

June Jobs Tell a Bad Story -- and Obama's Policies Won't Make It Any Better
A Commentary By Lawrence Kudlow

Friday, July 03, 2009

After nine months of explosive monetary and fiscal stimulus, you'd think economic recovery would be upon us. But the June jobs report tells a much different story.
Non-farm payrolls fell by 467,000, as the unemployment rate edged up to 9.5 percent. This isn't nearly as bad as the 700,000 monthly job losses of last winter, but it's still a rough number. Equally disappointing is the household survey -- often a key turning-point signal since it captures the health of small businesses -- which has dropped 811,000 in the past two months.
Donald Marron, a former senior economist with the Council of Economic Advisors and the CBO, calls it "a grim jobs report." Marron, digging deep into the Labor Department Statistics, says the continued decline in hours worked by private-sector employees, now 7 percent over the past year, is especially troublesome. He writes, "The economy is thus losing jobs and, for the jobs that remain, is losing hours worked. That double-whammy is bad news for the economy."
I would add that along with manufacturing and construction, the service sector continues to shed jobs, with a 244,000 drop in June. Inside that category, the important professional and business-services sector lost 118,000 jobs. The wage data is equally disconcerting. Over the past three months, average hourly earnings barely rose at 0.7 percent annually.
...
But for all the Fed's stimulus, which has had a salutary effect on the banking crisis, the lags are long and variable. And as former Dallas Fed head Robert McTeer has written, much of the central bank's balance-sheet expansion is being hoarded by commercial banks, with banks holding about $800 billion more than what they're required to hold. Until these excess reserves come way down, the impact of the Fed's monetary stimulus will be more muted than has traditionally been the case in Milton Freidman's monetarist model.
And as Washington economist Bruce Bartlett has written, Obama's $800 billion fiscal-stimulus package has yet to stimulate. Bartlett notes that 60 percent of the stimulus package goes to transfer payments and tax credits with no incentive effects. Meanwhile, the rest of the package, aimed at public works that might produce growth, is spending out at a snail's pace.
As an old-fashioned supply-side guy who is out of date with contemporary Washington policies, I would add that Obama's biggest mistake was not cutting marginal tax rates for individuals, businesses and investors. Instead of the fiscal profligacy that is driving spending and borrowing sky-high, lower tax rates with true incentive-reward effects would have reignited the animal spirits that are sagging so badly.
But Obama's temporary tax credits and social spending offer no growth effects. At the same time, the government's fiscal nymphomania has scared everyone into thinking the United States is going bankrupt. The president himself has said there's no money left. It's scary enough to keep your savings under the mattress.
And if you add all the talk of nationalizing health care and energy (cap-and-trade) to the rest of Bailout Nation, it's not hard to understand why people are shying from risk.
Stocks are the single-best barometer of our nation's future economic health, and the stock market began to rise in early March. But over the past month, with all these new big-government tax-and-regulatory threats, the stock rally has stalled. And the June jobs report caused an immediate 2 percent sell-off for equities.
I do the best I can to be optimistic about our nation's future.
But realistically, the current picture is not particularly good.

 

[YukonJack]

So far Obama broke 241 of his 500+ campaign promises.

Find the study yourself. I am not your tutor.

 

[SirJosephPorter]

I looked the NBC News/Wall Street poll and came across this. Looks like reality is setting in.

NBC News, Wall Street Journal Poll: Obama Honeymoon Ending

I looked at the link, it is probably written by a Republican supporter, a committed right winger. The same poll said that Obama’s approval rating is higher than the ratings of Bush or Clinton at a comparable point in their presidency. So Obama isn’t doing badly at all.

The same poll showed approval of Republican party at 25%, that of Democratic party at 45%. The far right blogger has taken only the negative points for Obama and has amplified them.

Anyway, if you want to look at the poll (and not the far right commentary on it), I have already given a link to it in one of my posts).