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Unemployment 9.1% - July 2011 - 9.1% Auguts
Topic Started: Jul 8 2011, 07:39 AM (4,349 Views)
Baldo
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Perhaps the scariest graph. Even the folks at the BLS can't hide this

http://data.bls.gov/timeseries/LNS11300000

Posted Image

Look at the crash from 1/09 since Obama became President. This is the most critical indicator of our future. Less & less people are participating in our economy as our debt accelerates and will soar in the future. I don't know how much clearer it can be.

We are at 10 year low for Civilian labor force participation rate at 64.1%

The application of Marxist Policy always bring destruction & scarcity.

"Hope & Change" brought Despair & Demise

Edited by Baldo, Jul 15 2011, 10:39 AM.
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foxglove

Criticism of Alan Greenspan who blames GenX unemployment on the young people.

(This is the Alan Greenspan, IIRC, who is believed to have kept the interest rates artificially low which stimulated the housing bubble).

"Greenspan: Dumb Americans Deserve Unemployment"

http://www.infowars.com/greenspan-dumb-americans-deserve-unemployment/
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kbp

Baldo
Jul 15 2011, 10:24 AM
Perhaps the scariest graph. Even the folks at the BLS can't hide this

http://data.bls.gov/timeseries/LNS11300000

Posted Image

Look at the crash from 1/09 since Obama became President. This is the most critical indicator of our future. Less & less people are participating in our economy as our debt accelerates and will soar in the future. I don't know how much clearer it can be.

We are at 10 year low for Civilian labor force participation rate at 64.1%

The application of Marxist Policy always bring destruction & scarcity.

"Hope & Change" brought Despair & Demise

Democrats took control of Congress in 1/07. Chart the trend since then.
Edited by kbp, Jul 15 2011, 12:35 PM.
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Baldo
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oopsie

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Baldo
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Panic at the White House? Gloomy Goldman Sachs sees high unemployment, possible recession

Last night in a new report, Democrat-friendly Goldman Sachs dropped an economic bomb on President Obama’s chances for reelection

----------------

"Following another week of weak economic data, we have cut our estimates for real GDP growth in the second and third quarter of 2011 to 1.5% and 2.5%, respectively, from 2% and 3.25%. Our forecasts for Q4 and 2012 are under review, but even excluding any further changes we now expect the unemployment rate to come down only modestly to 8¾% at the end of 2012.

The main reason for the downgrade is that the high-frequency information on overall economic activity has continued to fall substantially short of our expectations. … Some of this weakness is undoubtedly related to the disruptions to the supply chain—specifically in the auto sector—following the East Japan earthquake. By our estimates, this disruption has subtracted around ½ percentage point from second-quarter GDP growth. We expect this hit to reverse fully in the next couple of months, and this could add ½ point to third-quarter GDP growth. Moreover, some of the hit from higher energy costs is probably also temporary, as crude prices are down on net over the past three months. But the slowdown of recent months goes well beyond what can be explained with these temporary effects. … final demand growth has slowed to a pace that is typically only seen in recessions. .. Moreover, if the economy returns to recession—not our forecast, but clearly a possibility given the recent numbers … "

---------

Alarms bells must be ringing all over Obamaland today. Unemployment on Election Day about where it is right now? Sputtering — if not stalling — economic growth? To many Americans that would sound like the car is back in the ditch — if it was ever out. Maybe Goldman is wrong, but economists across Wall Street have been growing more bearish.

And recall that back in August of 2009, the White House — after having a half year to view the economy and its $800 billion stimulus response — made an astoundingly optimistic forecast. Starting in 2011, with Obamanomics fully in gear and the recession over, growth would take off. GDP would rise 4.3 percent in 2011, followed by … 4.3 percent growth in 2012 and 2013, too! And 2014? Another year of 4.0 percent growth. Off to the races, America.

Even in its forecast earlier this year, Team Obama said it was looking for 3.5 percent GDP growth in 2012, followed by 4.4 percent in 2013, 4.3 percent in 2014.


Goldman Sachs doesn’t have to tell you things are bad. I don’t have to tell you things are bad. Everybody knows things are bad. Unemployment is at 9.2 percent (11.4 percent if the official labor force hadn’t collapsed since 2008 and 16.2 percent if you include discouraged and underemployed workers.)

Moreover, the economy grew at just 1.9 percent in the first quarter of this year and may have grown less than 2 percent in the second. Wages and income are going nowhere fast.
...snipped

http://blogs.reuters.com/james-pethokoukis/2011/07/16/panic-at-the-white-house-gloomy-goldman-sachs-sees-high-unemployment-possible-recession/


Looks like the geniuses in the White House got it wrong.
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kbp

"...in a new report, Democrat-friendly Goldman Sachs dropped an economic bomb..."



The economical FORECASTS appear to be stronger than what is actually happening and as a result we're seeing revisions for the next FORECASTS!


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Baldo
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kbp
Jul 16 2011, 10:42 PM
"...in a new report, Democrat-friendly Goldman Sachs dropped an economic bomb..."



The economical FORECASTS appear to be stronger than what is actually happening and as a result we're seeing revisions for the next FORECASTS!


There is no liar lying like a President's economic forecast. They always assume rosy forecasts

Well maybe next summer we will see The upcoming and long awaited Summer of Recovery Attempt III
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Baldo
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It is strange new world. One would think the wireless industry would be hiring

digits: Wireless Industry Grows, But Not in Jobs 7/18/2011 2:16:35 PM

The U.S. wireless industry is booming, but for the industry's workers, the story is less rosy. WSJ's Anton Troianovski has details on digits.

http://online.wsj.com/video/digits-wireless-industry-grows-but-not-in-jobs/3D2D4A20-E747-4515-B177-59F2C15D4005.html
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kbp

They do touch on how the customer service has decreased in size. I see how all associated trades are cutting back because they needed loads to build it in the first place.

I do anticipate a boost will be coming for wireless internet ...whenever they get the frequency problems worked out, better operating speeds, etc.

More broadband will someday give us phone (as we have), better wireless internet than we presently get (speed) and video services that will compete with cable and movie rental (bigger speed problem!)

The frequency problem is like trying to show 10 channels where you only have enough space for 5, so they could drift into each other.
Edited by kbp, Jul 18 2011, 09:26 PM.
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Baldo
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Must watch Video at the site - Howard Davidowitz goes off on Obama, "We have a community organizer who hired Professors & pinheads and these guys don't know anything. They can't do anything!"

Return of Mass Layoffs a Grim Sign for U.S. Workers

Putting pressure on an already lousy job market, the mass layoff is making a comeback. In the past week, Cisco, Lockheed Martin and Borders announced a combined 23,000 in job cuts. (See: Another Retailer Bites the Dust: Borders Doomed by Amazon Deal, Davidowitz Says)

Those announcements follow 41,432 in planned cuts in June, up 11.6% from May and 5.3% vs. a year earlier, according to Challenger, Gray & Christmas.

Meanwhile, state and local governments have cut 142,000 jobs this year, The WSJ reports, and Wall Street is braced for another round of cutbacks. This week, Goldman Sachs announced plans to let go 1000 fixed-income traders.

If these trends continue, we may soon be talking about losses in the monthly employment data -- not just disappointing growth, says Howard Davidowitz, CEO of Davidowitz & Associates

"Everything in business is confidence," Davidowitz says. "You lose confidence and businesses can't deal with that [and] who could have confidence with what's going on in Washington?"

Davidowitz is bipartisan in his criticism, calling the U.S. political system "dysfunctional and deranged." (See: "A Bunch of Morons in Washington": Howard Davidowitz Handicaps the Debt Ceiling Debate)

Still, the restructuring expert is a longtime and vocal critic of President Obama:

"There has never been in a situation in my lifetime where a guy increases the debt by 40%, GDP growth is on the way down, Food Stamps are up, millions more are unemployed -- and to accomplish this we spent $4 trillion."...snipped

http://finance.yahoo.com/blogs/daily-ticker/return-mass-layoffs-grim-sign-u-workers-190228219.html
Edited by Baldo, Jul 22 2011, 10:39 AM.
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Kerri P.
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http://www.wral.com/business/story/9894927/
NC unemployment rate climbs to 9.9 percent - highest this year
Posted: 57 minutes ago
Updated: 9 minutes ago

Raleigh, N.C. — Layoffs in state and local governments have driven North Carolina’s unemployment rate to the highest level in nearly a year.

Some 10,200 jobs were cut from the public sector, including 7,200 in state government, leading to a statewide jobless rate of 9.9 percent in June, the North Carolina Employment Security Commission reported Friday.

That’s the worst since October 2010, when unemployment dipped under double digits for the first time in several months.

The drop in government jobs was not necessarily linked to the recently passed state budget, which took effect July 1, said Larry Parker, spokesman for the ESC.

“It’s too early to tell” if state agencies and other governments were cutting jobs ahead of expected budget cuts, Parker said. He noted that government jobs, especially at community colleges and universities, jump in summer months when teaching and other staff jobs are cut until the fall term.

snip.....
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Baldo
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Home Depot Co-Founder Blasts Obama: Even ‘Brain-Dead Economists’ Get It

First it was Steve Wynn, head of the famed Wynn resort empire, speaking out against Obama. Now its Bernie Marcus, co-founder of The Home Depot.

In an interview with Investor’s Business Daily (IBD), Marcus blasted Obama and his policies, saying “even brain-dead economists understand that when you raise taxes, you cost jobs.”

That’s some tough talk. But really, it’s only the beginning:

IBD: President Obama has promised to streamline and eliminate regulations. What’s your take?

Marcus: His speeches are wonderful. His output is absolutely, incredibly bad. As he speaks about cutting out regulations, they are now producing thousands of pages of new ones. With just ObamaCare by itself, you have a 2,000 page bill that’s probably going end up being 150,000 pages of regulations.

It gets even more direct:

IBD: If you could sit down with Obama and talk to him about job creation, what would you say?

Marcus: I‘m not sure Obama would understand anything that I’d say, because he’s never really worked a day outside the political or legal area. He doesn’t know how to make a payroll, he doesn’t understand the problems businesses face. I would try to explain that the plight of the businessman is very reactive to Washington. As Washington piles on regulations and mandates, the impact is tremendous. I don‘t think he’s a bad guy. I just think he has no knowledge of this.

Those are some harsh words. And as we get further into this administration, it’s becoming all too common. However, Marcus‘s biggest revelation may not be about Obama’s policies, but more about his administration’s alleged thuggery. According to him, CEOs are scared to speak out for fear of retaliation:

IBD: Why don’t more businesses speak out?

Marcus: They are frightened to death — frightened that they will have the IRS or SEC on them. In my 50 years in business, I have never seen executives of major companies who were more intimidated by an administration.

“Out of the mouths of babes,” the Bible says. Nowadays, it’s out of the mouths of business leaders

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Baldo
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GE moving X-ray business to China

eneral Electric Co.’s health care unit, the world’s biggest maker of medical imaging machines, is moving the headquarters of its 115-year-old X-ray business to Beijing.

“A handful’’ of top managers will move to the Chinese capital and there won’t be any job cuts, said Anne LeGrand, general manager of X-ray for GE Healthcare. The headquarters will move from Wisconsin amid a broader plan to invest about $2 billion across China, including opening six “customer innovation’’ and development centers.

The division should have “double-digit’’ growth rates as the country converts from film and analog to digital X-ray technology, LeGrand said.

GE Healthcare, also the world’s biggest maker of magnetic resonance imaging and cardiac tomography scanners, got about $1.1 billion of its $16.9 billion in sales from China last year.

The X-ray business, whose financial results aren’t reported separately by GE, will hire 65 new engineers and support staff at a new Chengdu facility, the company said. GE has hired “a large number’’ of engineers who are in training, LeGrand said. GE, based in Fairfield, Conn., also has a global research center in Shanghai....snipped

http://articles.boston.com/2011-07-26/business/29817324_1_ge-healthcare-x-ray-business-china-last-year


Obama administration & Jeffrey Immelt

Jeffrey Immelt is the chairman of the board and chief executive officer of the U.S.-based conglomerate General Electric

In February 2009, Immelt was appointed as a member to the President's Economic Recovery Advisory Board to provide the president and his administration with advice and counsel in fixing America's economic downturn.

On January 21, 2011, President Obama announced Immelt's appointment as chairman of his outside panel of economic advisers, succeeding former Federal Reserve chairman Paul Volcker. The New York Times reported that Obama's appointment of Immelt was "another strong signal that he intends to make the White House more business-friendly." Immelt will retain his post at G.E. while becoming "chairman of the Council on Jobs and Competitiveness, a newly named panel that President Obama is creating by executive order."
http://en.wikipedia.org/wiki/Jeffrey_R._Immelt
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retiredLEO
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Baldo
Jul 27 2011, 09:26 AM
GE moving X-ray business to China

eneral Electric Co.’s health care unit, the world’s biggest maker of medical imaging machines, is moving the headquarters of its 115-year-old X-ray business to Beijing.

“A handful’’ of top managers will move to the Chinese capital and there won’t be any job cuts, said Anne LeGrand, general manager of X-ray for GE Healthcare. The headquarters will move from Wisconsin amid a broader plan to invest about $2 billion across China, including opening six “customer innovation’’ and development centers.

The division should have “double-digit’’ growth rates as the country converts from film and analog to digital X-ray technology, LeGrand said.

GE Healthcare, also the world’s biggest maker of magnetic resonance imaging and cardiac tomography scanners, got about $1.1 billion of its $16.9 billion in sales from China last year.

The X-ray business, whose financial results aren’t reported separately by GE, will hire 65 new engineers and support staff at a new Chengdu facility, the company said. GE has hired “a large number’’ of engineers who are in training, LeGrand said. GE, based in Fairfield, Conn., also has a global research center in Shanghai....snipped

http://articles.boston.com/2011-07-26/business/29817324_1_ge-healthcare-x-ray-business-china-last-year


Obama administration & Jeffrey Immelt

Jeffrey Immelt is the chairman of the board and chief executive officer of the U.S.-based conglomerate General Electric

In February 2009, Immelt was appointed as a member to the President's Economic Recovery Advisory Board to provide the president and his administration with advice and counsel in fixing America's economic downturn.

On January 21, 2011, President Obama announced Immelt's appointment as chairman of his outside panel of economic advisers, succeeding former Federal Reserve chairman Paul Volcker. The New York Times reported that Obama's appointment of Immelt was "another strong signal that he intends to make the White House more business-friendly." Immelt will retain his post at G.E. while becoming "chairman of the Council on Jobs and Competitiveness, a newly named panel that President Obama is creating by executive order."
http://en.wikipedia.org/wiki/Jeffrey_R._Immelt
Look's like the presidents' job czar is finding jobs, for, ahh, CHINA.
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kbp

Fed casts doubt on growth for 2nd half of year


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