Wow, just think of where we’d be without that $789 billion stimulation!
The economic for October predictions were 175,000 non-farm jobs lost, and an unemployment rate at or just below 10%. Just based on initial unemployment filings, I think you’d have had to count on people continuing to drop out of the system to get numbers that low.
So what actually happened? As of this morning, the Bureau of Labor Statistics tells us that we lost 190,000 non-farm jobs, and that the unemployment rate has risen to 10.2%. [...]
The President and his economic team have claimed that the plan is working as intended, that they’re on track to save the original goal of 3.6 million jobs, but somehow, despite practically drowning in success, we’re going to have to live with high unemployment for years to come. Oh, and that everything is still Bush’s fault
Oh my, with such success just think of what ObamaCare and Cap-and-Tax will do to the economy!
Comment by B Moe on 11/6 @ 7:42 pm #
again.
And again.
And again.
And again.
And again.
And again.
Comment by Pablo on 11/6 @ 7:44 pm #
The unemployment rate seems to have a boner for Barry.
Comment by Pablo on 11/6 @ 7:46 pm #
Can you take me higher, to a placw with golden streets….
Comment by Carin on 11/6 @ 8:11 pm #
Smartest. President. Ever.
Comment by DarthRove on 11/6 @ 8:18 pm #
Proof that Robert Gibbs’ memory hole stretches from 1/20/2001 to 1/20/2009.
“I will continue to say what I’ve said before. You hear in this debate, you hear analogies, you hear references to, you see pictures about and depictions of individuals that are truly stunning, and you hear it all the time. People — imagine five years ago somebody comparing health care reform to 9/11. Imagine just a few years ago had somebody walked around with images of Hitler.”
Comment by geoffb on 11/6 @ 8:20 pm #
This is a true statement by them and not precisely a lie. Just one that misleads because of assumptions that parts of the audience have that are not shared by Obama and company. What you have shown above is intended and so the plan is working as intended. They are on track to “save” 3.6 million jobs. It is just that the term “save” has a different meaning than what they are allowing everyone to believe it does.
There is an enormous edifice of evasions, misrepresentations, and lies being built up before us. A true work of shameless, artistic evil. It was said of Bill Clinton that he would rather climb a tree to tell a lie than stand on the ground and tell the truth. Obama and company have embarked on an expedition to climb K2 in winter. Next year they have slotted in a return-to-the-moon trip.
Comment by happyfeet on 11/6 @ 8:25 pm #
Dirty socialist slut Jeannine Aversa and her Associated Press pals have forgotten their mantra from before the little president man got elected…
Remember that?
What about the “staggering” number of jobs what have been lost? Nope. The dirty socialist whore’s narrative now is to make a case for a third stimulus without calling attention to how badly the little president man’s last one failed.
The Associated Press isn’t even remotely about journalism anymore I don’t think. It’s just a tool of the State.
Comment by happyfeet on 11/6 @ 8:26 pm #
A lot of people forget that the little president man’s stimulus was the second one already I think.
Comment by happyfeet on 11/6 @ 8:28 pm #
Remember when president dicklick was nattering on thusly?
Comment by sdferr on 11/6 @ 8:28 pm #
I posted two AP stories labeling the jihadi guy “murdered” in a shootout with the FBI in Michigan and nobody said a peep about it. I guess whatever AP may do just hasn’t the power to surprise anymore.
Comment by sdferr on 11/6 @ 8:30 pm #
I shouldn’t say nobody though cause truth is SBP at least snarked at it a bit.
Comment by Bob Reed on 11/6 @ 8:30 pm #
What’s even worse is that U-6, the number that includes discouraged people that have dropped out of the job altogether-the long term unemployed-and considered a more realistic measure of unemployment, comes in at 17.5% up from 17% in September…
http://powip.com/2009/11/prosperity-is-back-unemployment-jumps-to-10-2/
So, you know, on the back of that awesomely awsome all stimulus GDP goosing, the Obama bunch and their media pals are trumpeting the meme Happy Days Are Here Again!
Comment by Pablo on 11/6 @ 8:32 pm #
Well, it means whatever they want it to mean, because they just made it up. No economist what isn’t hopped up on Hopium will tell you what a “saved” job is, precisely because it’s hokum. And following that point, Baracky can’t tell you what a “saved” job is either. But he’ll still give you a number, and it’s a big one.
People can’t help but notice that 10.2% is a big number, and not in a good way.
Comment by happyfeet on 11/6 @ 8:34 pm #
I remember clicking just to check cause it seemed ridiculous but when you see it and it’s the AP it just feels very authentic. It’s no different than clicking on Mother Jones anymore.
Comment by Bob Reed on 11/6 @ 8:34 pm #
On which thread sdferr?
Comment by happyfeet on 11/6 @ 8:35 pm #
The media’s collusion with the “saved jobs” hoax is criminal.
Comment by Pablo on 11/6 @ 8:37 pm #
Bob, I Don’t think we’ve got a choice. It’s time to break into song!
And while you’re over there, do read the song info. Interesting people and dates.
Comment by sdferr on 11/6 @ 8:39 pm #
Here ya go Bob.
Comment by sdferr on 11/6 @ 8:40 pm #
I see that they’ve finally changed it. Took long enough. Roggio picked up on it too.
Comment by Pablo on 11/6 @ 8:49 pm #
At least the AP minion wrote this, ‘feets:
If that’s right or if, God forbid, it’s worse than that (which seems to be the current trend), November 2 is going to be the day that Rush Limbaugh’s wish for Obama comes true.
Comment by Rusty on 11/6 @ 8:59 pm #
I can’t wait to hear the spin on this.
Comment by happyfeet on 11/6 @ 9:00 pm #
Mark Zandi is a prostitute. He’s Nancy’s goto boy for another stimulus package. You know how big a whore he is if you remember he signed on with Meghan’s coward daddy during the election and then immediately after the codger’s inevitable failure he began orally servicing the Pelosi. You’ll see the little Zandi whore in hearings for another stimulus as soon as the third world health care scam gets crammed up our little country’s ass.
We’ve become a goddamn nation of whores I think. Need. More. Synonyms.
Comment by cynn on 11/6 @ 9:00 pm #
So that’s totally his deal. To get you a fucking job in an economy that is worse than a prolapsed uterus. Got it. Thanks Alan “Evil” Greenspan. I’ll even give Smirky Simian Bush a qualified pass.
Comment by Pablo on 11/6 @ 9:04 pm #
I have a job, cynn. But that is what he promised. He put it in a graph, even. Is it so wrong to check the reality against the hype?
Comment by Bob Reed on 11/6 @ 9:10 pm #
I see what you mean sdferr, and you’re right, it seems to have been corrected…
But AP’s under a lot of pressure to get the spin straight; to conform to the desired meta-narrative. They don’t have tome for proofreading.
Comment by Bob Reed on 11/6 @ 9:10 pm #
tome = time
Comment by cynn on 11/6 @ 9:58 pm #
OK, so my personal Jesus didn’t produce on time on demand. So pitch your own Fabio.
Comment by Pablo on 11/6 @ 10:03 pm #
Maybe Fabio isn’t the answer. Or, Chocolate Jesus.
Comment by cynn on 11/6 @ 10:06 pm #
Pablo, can you ever climb down from the terror tree?
Comment by JD on 11/6 @ 10:17 pm #
Brought to you by Ernest & Julio Gallo …
Comment by Pablo on 11/6 @ 10:17 pm #
I must say that I don’t know the answer to your question, cynn. I’ll fix another drink and consider it.
Comment by Pablo on 11/6 @ 10:18 pm #
JD, I LOL’ed. Thanks.
Comment by sdferr on 11/6 @ 10:23 pm #
You might climb down from the tree after cynn steps off the pressure plate, Pablo.
Comment by SpeakEasy on 11/6 @ 10:33 pm #
Never elect a boy to do a man’s job.
Comment by JD on 11/6 @ 10:38 pm #
Cynn has single-handedly created or saved at least 50 jobs at Boone’s Farms.
Comment by Snowcone on 11/6 @ 11:39 pm #
Oh dear, the last time unemployment was this high was two and a half years into…the Reagan administration.
Comment by maggie katzen on 11/7 @ 12:35 am #
so apparently I need to go even cheaper than Sutter Home before cynn makes sense.
Comment by SBP on 11/7 @ 12:37 am #
There used to be a foul, wine-like beverage called “Bardenheier” whose slogan was “That Arkansas Wine!”
That might be the appropriate choice.
Comment by SBP on 11/7 @ 12:41 am #
Or perhaps one of these fine examples of the vintner’s art.
Comment by Darleen on 11/7 @ 12:43 am #
SBP
Have a Ripple (it winks back at you)
Comment by maggie katzen on 11/7 @ 12:44 am #
I mean, I saw the Boone’s Farm at Wal-Mart, but thought “that way lies madness”. not sure where the mid-show craving for wine came from, but I don’t drink it often so I have no taste.
Comment by Bob Reed on 11/7 @ 12:53 am #
Nice try snowcone, but the situations aren’t comparable. The economic dynamics are completely different, as too is the fundamental structure of the economy.
It was forever changed by Clinton, Rubin, Summers, and Geitner when they pushed forward the repeal of the Glass-Steagall act of 1933. The repeal enabled commercial lenders such as Citigroup to underwrite and trade instruments such as mortgage-backed securities and collateralized debt obligations and established structured investment vehicles that bought those same kind of securities…
You know, the same Citigroup that Robert Rubin recently had to step down from, after charges of mismanagement brought by investors who’s shares lost more than 70%, and their bank unknown billions.
In 1997 sub-prime loans represented about five percent of all mortgages. By the time the financial crisis hit in Summer 2008, they were approximately 30 percent! You know, the same vehicles that Booooooosh! wanted to establish more regulation and oversight for, but that the Democrats in congress blocked…
So it was a very different political and social environment, and a very different economy indeed…
Comment by SBP on 11/7 @ 1:05 am #
I know jack and shit about wine, but the Yellow Tails seem to be drinkable and not very expensive (depending — if you’re cynn and consider anything that doesn’t come in a box to be pretentious swank, it might seem overpriced).
If you want cynn to make sense, try to score some vintage NyQuil, from back when they used to be allowed to put belladonna in it.
Comment by Snowcone on 11/7 @ 1:08 am #
So it was a very different political and social environment
In your mind only, Bob.
Y’all ought to change your party’s name to the Rationalization party.
Comment by maggie katzen on 11/7 @ 1:11 am #
seriously?!
I just wanted something in tiny bottles. so I wouldn’t over do it. since I’m unsupervised for the night.
Comment by SBP on 11/7 @ 1:26 am #
Oh, yeah. NyQuil, Contac, all of that stuff used to have belladonna alkaloids.
Comment by cynnmeyacone on 11/7 @ 1:40 am #
combinatorial stupidity! Thanks cynn, I appreciate the additional help.
Comment by Carin on 11/7 @ 6:19 am #
So that’s totally his deal. To get you a fucking job in an economy that is worse than a prolapsed uterus. Got it. Thanks Alan “Evil” Greenspan. I’ll even give Smirky Simian Bush a qualified pass.
Cap and Trade. Health Care. If you think any employeer is thinking of expanding or hiring at this point in time, you’re
crazydrunk.Lean and mean, saving costs – it’s a matter of survival at this point and preparation for what’s to come. Cap and tax is going to put a ton of (small) companies out of business.
Bank it.
Comment by Rusty on 11/7 @ 7:17 am #
10.2%and with the figure 7% of people who have quit looking for a job, unemployment is at 17.2%. Hello 1931.
One more time for the trolls. Governments cannot creat jobs, they cannot save jobs. Governments tax. Governments are net destroyers of wealth. Wealth creates jobs. Barry has made this so much worse than it needed to be, and it ain’t getting better any time soon.
Comment by Darleen on 11/7 @ 8:43 am #
snotty
Were you even alive during the Carter years? The recession of 80-81 had a lot to do with a TIGHT money policy in order to slay an INFLATION rate of 11-13% combined with a huge uptick in oil because of the 79 Iranian Islamic revolution.
What’s the inflation rate today?… Oh, that’s right…we are in DEFLATION.
Comment by Darleen on 11/7 @ 8:47 am #
If you think any employeer is thinking of expanding or hiring at this point in time
Consumer spending is down, too…people are sitting on their hands.
Comment by Old Texas Turkey on 11/7 @ 9:35 am #
people will continue to sit on the hands with unemployment ticking up. No respite there. They will use the opportunity to pay down debt. Which is good, because this consumer/economy needs to deleverage.
Snowcone – there is a significant difference in the 1983 rate of unemployment due to Volkers monetary squeeze to kill inflation, compared to todays rates in a deflationary environment and easy govt money (to stabilize asset prices, not stimulate the economy) combined with looming higher taxes and government intrusion into the economy. Vastly different.
Plus the inherent bet is that the Fed will be able to surgically turn off the spigot at the right time as the economy picks up steam on its own. I bet that I will gladly take the otherside off … all day long.
The ramifications of all this is on the currency. It has become a carry currency. One used to borrow (at negative rates, given its decline) to invest in other assets, from the perspective of hedging dollar exposure. So what you see as a rising stock market/commodities is the second leg of a spread. It is the hedge on a dollar short position. economic and industrial activity do not support rise in asset prices at this stage. It is a manufactured run. Not looking good at all. Scary, actually.