With Unemployment at 9.5% Obama Tells Crowd: Stimulus Is Working

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Faith Unashamed	With Unemployment at 9.5% Obama Tells Crowd: Stimulus Is Working		Lead	[-]
Commodore Veteran Posts: 5603 07/02/09 07:44:24	Tags : None The US unemployment rate is now at 9.5%... the highest rate in 26 years. The unemployment rate has now jumped nearly 2 full percentage points since Obama became president. Under President Obama the unemployment rate reached a 26 year high in June. The AP reproted: Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent, suggesting that the economy's road to recovery will be bumpy. The Labor Department report, released Thursday, showed that even as the recession flashes signs of easing, companies likely will want to keep a lid on costs and be wary of hiring until they feel certain the economy is on a solid ground. June's payroll reductions were deeper than the 363,000 that economists expected. ...If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 16.5 percent in June, the highest on records dating to 1994. Barack Obama told a Virginia crowd today that the Stimulus Bill is working and has done its job. Unreal. Here's Dear Leader on Wednesday: Did you catch that? Barack Obama said the Stimulus will have no effect on the record deficit he's racked up this year. He thinks we're idiots.
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Dave Munson		#1	[url]	[-]
Posts: 3403 07/02/09 08:04:35	When he says that the stimulus is working he's referring to the nation going bankrupt. Psalms 118:8 It is better to trust in the LORD than to put confidence in man. ===================================================
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Faith Unashamed		#2	[url]	[-]
Commodore Veteran Posts: 5603 07/02/09 08:48:45	Along with our taxes going up and potentially hitting 80% again.
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Paul.catholicdiscussion		#3	[url]	[-]
Lieutenant Accepted Posts: 961 07/02/09 16:11:53	Most economists agree that the economy is recovering. Obama had predicted a 10% or more unemployment before it's all over. It would be nothing short of miraculous if he had completly turned the worst recession in a generation around in 6 moths
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Sid2		#4	[url]	[-]
Cadet Accepted Posts: 96 07/02/09 17:48:12	Paul wrote: Most economists agree that the economy is recovering. These economists believe we still haven't hit bottom: PeterSchiff Marc Faber Jim Rogers Gerald Celente . . . have any of the most economists you cite discovered YouTube? I would rather be honestly blunt than diplomatically untruthful.
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Paul.catholicdiscussion		#5	[url]	[-]
Lieutenant Accepted Posts: 961 07/02/09 19:04:58	By PHIL IZZO Economists in the latest Wall Street Journal forecasting survey expect the recession to end in September, though most say it won't be until the second half of 2010 that the economy recovers enough to bring down unemployment. Charts and Full Results See forecasts for growth, unemployment, housing and more. Plus, views on the auto industry, ranking Fed chairmen, grading policymakers and more. Survey conducted April 3-6. (Or download all data as .xls) Real Time Econ: Raising Obama, Geithner Grades Complete Coverage: Forecasting Survey Gross domestic product was predicted to contract in the first and second quarters of this year by 5.0% and 1.8%, respectively, on a seasonally adjusted annualized rate. A return to growth -- a modest 0.4% -- isn't expected until the third quarter. In the fourth quarter of 2008, the most recent period for which data are available, the economy contracted 6.3%. "The end of the decline isn't the beginning of the recovery," said David Resler of Nomura Securities Inc. "It's like a boxing match. Even if you win the fight, it's not going to feel as good when you get out of the ring as when you went in." Indeed, economists' prospects for the labor market remain bleak. Just 12% of the economists expect the unemployment rate to fall some time this year. More than a third of respondents expect the jobless rate to peak in the first half of 2010, while about half don't see unemployment declining until the second half of 2010. By December of this year, the economists on average expect the unemployment rate to reach 9.5%, up from the 8.5% reported for March. They do see the rate of decline slowing, forecasting 2.6 million job losses in the next 12 months, compared with the 4.8 million jobs lost in the previous period. Phil Izzo and Kelly Evans discuss the Wall Street Journal's most recent economic survey, which found that for the first time in a long time, things aren't getting worse. The economists'
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ThoughtMonkey		#6	[url]	[-]
Lt Commander Dedicated Posts: 1695 07/02/09 21:36:51	Slowing decline does not mean we are recovering. It means we are still in decline. It would also make sense that this time of year we slow. People are being hired for summer jobs. Once summer is over, you will likely see an increase again.
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Paul.catholicdiscussion		#7	[url]	[-]
Lieutenant Accepted Posts: 961 07/03/09 03:12:12	Slowing decline does not mean we are recovering. It means we are still in decline. What it means is the worst recession in a generation is bottoming out and headed for recovery..........according to the economists at the WSJ.
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Dave Munson		#8	[url]	[-]
Posts: 3403 07/03/09 09:09:14	Paul wrote: Slowing decline does not mean we are recovering. It means we are still in decline. What it means is the worst recession in a generation is bottoming out and headed for recovery..........according to the economists at the WSJ. I wish that where true Paul, I really do, but all the actions taken by the liberals is not conducive to rebound. Psalms 118:8 It is better to trust in the LORD than to put confidence in man. ===================================================
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Faith Unashamed		#9	[url]	[-]
Commodore Veteran Posts: 5603 07/03/09 09:24:28	Dave Munson wrote: Paul wrote: Slowing decline does not mean we are recovering. It means we are still in decline. What it means is the worst recession in a generation is bottoming out and headed for recovery..........according to the economists at the WSJ. I wish that where true Paul, I really do, but all the actions taken by the liberals is not conducive to rebound. All of their actions will cause hyper inflation and bankruptcy. Their actions will destroy the middle class so that all we will have ir the upper class and the poor.
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Faith Unashamed	'We're in the Middle of a Crash': Black Swan	#10	[url]	[-]
Commodore Veteran Posts: 5603 07/03/09 09:51:05	The financial system is crashing and action must be taken by the US government to convert debt into equity to produce a more stable environment, Nassim Taleb, author of "The Black Swan," told CNBC Thursday. "You may have green shoots, whatever you want to call them, you may have temporary relief, but you are still in a world that's breaking," Taleb said on "Squawk Box." Anything that's fragile like the financial system will eventually crash, he said. (CNBC)
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