| Unemployment 9.1% - July 2011 - 9.1% Auguts | |
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| Tweet Topic Started: Jul 8 2011, 07:39 AM (4,350 Views) | |
| Baldo | Jul 9 2011, 11:33 AM Post #31 |
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Which reminds me of the current state of affairs for the California Democratic Party, especially the public employee unions & their politicians. They always complain about Prop 13 and real estate taxes being too low, yet foreclosures are at an all time high in California. They just don't understand if people can't pay their mortgages they won't be able to pay their property taxes. I guess it is over their heads. |
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| kbp | Jul 9 2011, 02:09 PM Post #32 |
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We've been starting to turn the corner for quite awhile ...and he has managed to create quite a "corner" to turn. |
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| Kerri P. | Jul 9 2011, 03:36 PM Post #33 |
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http://www.wral.com/business/story/9841319/ Black economic gains reversed in Great Recession Posted: 1:13 p.m. today Updated: 18 minutes ago BALTIMORE — Growing up black in the segregated 1960s, Deborah Goldring slept two to a bed, got evicted from apartment after apartment, and watched her stepfather climb utility poles to turn their disconnected lights back on. Yet Goldring pulled herself out of poverty and earned a middle-class life — until the Great Recession. First, Goldring's husband fell ill, and they drained savings to pay for nursing homes before he died. Then Goldring lost her executive assistant job in the Baltimore hospital where she had worked for 17 years. The cruelest blow was a letter from the bank, intending to foreclose on her home of almost three decades. Millions of Americans endured similar financial calamities in the recession. But for Goldring and many others in the black community, where unemployment has risen since the end of the recession, job loss has knocked them out of the middle class and back into poverty. Some even see a historic reversal of hard-won economic gains that took black people decades to achieve. Goldring remembers her mother taping the window shades to the wall so no one could see them stealing electricity. She remembers each time she sat on the curb with her three brothers, surrounded by her family's belongings, waiting for a new place to live. Sitting on those curbs, she promised to always pay her bills on time. Now, after finding herself poor again, "the only word I can say is devastated," says Goldring, 58. "For me to live that life we were so comfortable in, we never had to worry about finances, we always had money where I can help my kids and my grandchildren — to go to calling my daughter to borrow $100 because I can't pay a bill ..." Goldring's voice trails off as she struggles to hold back tears. Economists say the Great Recession lasted from 2007 to 2009. In 2004, the median net worth of white households was $134,280, compared with $13,450 for black households, according to an analysis of Federal Reserve data by the Economic Policy Institute. By 2009, the median net worth for white households had fallen 24 percent to $97,860; the median black net worth had fallen 83 percent to $2,170, according to the EPI. snip.... |
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| kbp | Jul 9 2011, 07:05 PM Post #34 |
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While working to put a racial line on "net worth", the key word there is "median". Single-Parent Families White - 24% Black or African American - 67% American Indian - 53% Asian and Pacific Islander - 16% Hispanic or Latino - 40% The blame. IMO, can be assigned to those responsible for entitlement programs that enable and actually promote this trend. How or which race is to blame using that method I do not know. Edited by kbp, Jul 9 2011, 07:06 PM.
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| LTC8K6 | Jul 9 2011, 07:06 PM Post #35 |
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Assistant to The Devil Himself
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http://michellemalkin.com/2011/07/09/six-months/ Obama has 6 months to turn the economy around, according to Obama... |
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| kbp | Jul 9 2011, 10:24 PM Post #36 |
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Is his goal to make that another lie? |
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| Joan Foster | Jul 10 2011, 01:01 PM Post #37 |
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We drove home this week through West Virginia. We saw several billboards ( wording variations) stating "Obama Unemployment Zone. Obama killing jobs." |
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| foxglove | Jul 11 2011, 11:59 AM Post #38 |
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"Of Course Unemployment Is Rising... Government Policy Is GUARANTEEING It' http://www.washingtonsblog.com/2011/07/of-course-unemployment-is-rising.html |
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| Baldo | Jul 11 2011, 05:43 PM Post #39 |
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With Friends like this Obama is in trouble, He supported Obama Obama Creates Jobs in Mexico as US Unemployment Rises to 9.2% While the statisticians were calculating the third consecutive monthly increase in the unemployment rate, President Obama was signing a deal to allow Mexican truckers to operate in the USA. See the story here. How can a Democratic president expect to get re-elected by selling out his base like this? There are a few possibilities: He doesn't want to get re-elected and is sabotaging himself. He is carrying out orders handed down from big business and has no choice. He knows that presidential elections are rigged by the CIA, and therefore does not have to court the votes of the unemployed masses. Further reading:"Politics is a Scam - Why I Will Never Vote Again" by James Altucher http://www.trivisonno.com/obama-creates-jobs-in-mexico |
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| Kerri P. | Jul 11 2011, 07:24 PM Post #40 |
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http://www.wral.com/news/local/wral_investigates/story/9846540/ Unemployment rate hides thousands of NC jobless Posted: 6:00 p.m. today Updated: 6:23 p.m. today Raleigh, N.C. — As bleak as North Carolina's official 9.7 percent unemployment rate is, it doesn't completely reflect the number of people struggling to make ends meet and the fragile condition of the state economy, according to experts. The traditional state and national unemployment numbers are based on household surveys and include only those who meet three criteria: They must be out of work, receiving benefits and actively seeking a new job. Many economists say a more accurate picture can be seen in what the U.S. Bureau of Labor Statistics calls the U-6 number. That includes people so frustrated they gave up an active job search, those scraping by on part-time work because they can't find full-time employment and those in the midst of training for a career change. "I think it's a much better depiction of our economic health, which is really dire, not only in North Carolina, but across the country," said Jason Jolley, senior research director at the Center For Competitive Economies at the University of North Carolina at Chapel Hill. Using U-6 figures, North Carolina's unemployment rate would be 17.5 percent – the ninth highest in the U.S. The national jobless figure would be 16.5 percent instead of 9.1 percent. "It's a little disturbing that nobody knows about the real number," said Cindy Voorhees, among the thousands of out-of-work North Carolinians hidden in the official unemployment rate. snip..... |
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| kbp | Jul 14 2011, 02:27 PM Post #41 |
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JOBLESS WEAK: 405,000... TOPS 400K FOR 14TH STRAIGHT WEEK... Retail sales fall for 1st time in year... POLL: Satisfaction with 'ways things are going' drops to 16% as Democrats bail... Lowest since month after Obama took office... That's just a few headlines from Drudge today. Sucks to be not-so-brilliant afterall. ...and I recall a few reporters getting excited about a 1 point jump Obama got in the polls a day after he FINALLY decided he'd lay off the golfing & vacations long enough to LEAD the deficit reduction talks! |
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| Baldo | Jul 14 2011, 02:48 PM Post #42 |
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Things are starting to look bad for the Summer of Recovery Part II..... Or worse the Recovery Decade of 2010-2020 The Disappearing Recovery What if the weak recovery is all the recovery we are going to get? Barack Obama, John Boehner and Mitch McConnell have been performing an intricate scorpion dance over spending, taxes and the debt ceiling, premised on the belief that this is the deal that would ignite the recovery. But what if it's too late? What if that first-quarter growth rate of 1.8% is a portent of the U.S.'s long-term future? What if below-normal U.S. GDP is, as the Obama folks like to say, the new normal? Robert Lucas, the 1995 Nobel laureate in economics, has spent his career thinking about why economies grow, and in particular about the effect of policy making on growth. From his office at the University of Chicago, Prof. Lucas has been wondering, like the rest of us, why, if the recession officially ended in the first half of 2009, there hasn't been more growth in the U.S. economy. He's also been wondering why this delayed recovery resembles the long non-recovery years of the 1930s. And he has been thinking about the U.S. and Europe. In May, Bob Lucas pulled his thoughts together and delivered them as the Milliman Lecture at the University of Washington, an exercise he described to me this week as "intelligent speculation." Here is the lecture's provocative final thought: "Is it possible that by imitating European policies on labor markets, welfare and taxes, the U.S. has chosen a new, lower GDP trend? If so, it may be that the weak recovery we have had so far is all the recovery we will get." The Obama-will-turn-us-into-Europe argument is a staple of the administration's critics. Prof. Lucas's intelligent speculation, however, carries the case beyond dinner-party carping. The baseline reality for any discussion of where we're headed is that from 1870 to 2008, the U.S. economy has had average GDP productivity growth of about 3% and about 2% on a per-person basis. Despite displacements—wars, depressions—we've always returned to this solid upward trend. From 1870 till recently, real income per person has increased by a factor of 12—"an ongoing miracle," Prof. Lucas notes, "mainly due to free-market capitalism." The Obama economists like to argue that this recession was the greatest meltdown since the Depression. Prof. Lucas agrees. Most recessions, he says, are not very important events. This one, though, has taken U.S. GDP almost 10% off its long-term growth trend. The only downturn comparable to this in the past century is the more than 30% decline during the Depression. What discomfits him is the similarities in the policy choices that accompanied both delayed recoveries. By 1934, the Depression's banking crisis had been resolved, "yet full recovery was still seven years away," he said in the Milliman lecture. GDP stayed more than 10% below trend. "Why?" The answer, he says, was growth-suppressing policies, such as the Smoot-Hawley tariff, cartelization, unionization and, "most important but hardest to measure, FDR's demonization of business."....snipped ...The U.S.'s projected long-term welfare costs, including the new health-care law, are the justification the Obama economists give for pushing spending to 25% or more of GDP. The tax increase the president is fairly shrieking for this week isn't for the August debt limit. It's for the next 25 years. "If we're going to move to a European welfare state," says Prof. Lucas, "we're going to have to pay a European price." And that price could be a permanently lower level of GDP per person. The U.S.'s amazing 100-year ride would slow. Among the many things any such drop in GDP will siphon away is America's relentless productive vitality. "So much new happens in the United States," Prof. Lucas says. But will it still? http://online.wsj.com/article/SB10001424052702304911104576443953024891120.html?KEYWORDS=lucas Obama is ripping our future apart Edited by Baldo, Jul 14 2011, 02:49 PM.
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| Joan Foster | Jul 15 2011, 05:41 AM Post #43 |
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Good article: "Congratulation to Rick Santelli, the bond-market guy on CNBC. Yesterday he finally brought up the fact that America's job growth is being artificially boosted by the birth/death model, which I've been writing about for years. That's when the Labor Department's computers -- without proof -- add jobs to the monthly count that should be created by new companies. These aren't real jobs, Santelli explained to his confused colleagues. They are being created by a "formula." Now if Rick passes the word on to all the clueless "experts" on that station, the world would have a better knowledge of what's really going on in the job market. snip Ben Bernanke oughtta watch how he explains things. Answering a question yesterday from a senator after he addressed Congress, the Federal Reserve chairman explained that Social Security's problems have to do with too many Americans collecting money and too few people working and paying into the retirement system. It's a demographic shift that critics -- including me -- have been bringing up for years. But then Bernanke blurted out that this imbalance was bound to happen when Social Security's "pyramid" structure becomes too bottom-heavy -- too many people collecting. Mr. Bernanke, you are describing a typical pyramid scheme. A Ponzi scheme -- just like Bernie Madoff pulled. And while this is an open secret about Social Security, you shouldn't be using the world "pyramid" in front of the kids. Bernanke also said yesterday that he was standing by in case the economy needed help. But with what? Quantitative Easings 1 & 2 may have helped the stock market, but they've been complete duds in helping the economy. Read more: http://www.nypost.com/p/news/business/if_things_don_improve_obama_may_JWpsD9POKY3q3nnm3rnEZJ#ixzz1SAYPOvpx |
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| kbp | Jul 15 2011, 09:26 AM Post #44 |
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Good column, with quite a few topics covered! Baldo has been a few steps ahead of Santelli in posts here on the unemployment numbers accounting tricks! As for Ben, he has been commenting lately on just about everything our government does. This guy must really like being the center of attention, even though I believe most judge him in a negative manner just for what his job involves ...before he sticks his foot in his mouth! |
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| Baldo | Jul 15 2011, 09:49 AM Post #45 |
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They have been cooking the books in DC for a while, but the Obama Administration has a full blown fire going. If a Fortune 500 Corporation had the accounting practices of the US Govt they would be behind bars. Imagine a Corporation operating without a budget, with 30 straight months of losing money, promising future benefits that it isn't financing, and lying on their financial reports? Welcome to the Federal Govt! |
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