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355 Comments
- inactive, on 11/07/2009, -30/+1491) legalize marijuana
2) stop occupying foreign countries overseas
3) stop funding terrorists states like israel
4) stop giving out free money to crooks on wall street
there, i fixed it. - Intervene, on 11/07/2009, -35/+133Looks like the 787 billion dollar stimulus worked.
- DeadpoolPHP, on 11/07/2009, -9/+98No one is here to comment because they are all out looking for jobs :(
- squasheddog, on 11/07/2009, -3/+6417.5% U6
- nonapp, on 11/07/2009, -14/+71"They tuk rrr jabs"
- m3arvk, on 11/07/2009, -2/+52The comprehensive unemployment rate which is referred to as U6 and
includes part time workers that want full time jobs and discouraged
workers that have stopped looking but will take a job if offered... - ELWOOD_BLUES, on 11/07/2009, -43/+93Didn't Barry say if we passed the stimulus package, unemployment wouldn't go above 8%?
- nailbunny, on 11/07/2009, -31/+78let's see you turn a $14 trillion economy around in a year
- joshuasortino, on 11/07/2009, -7/+50I'm no economist, so I would love for someone to explain why this wouldn't work;
Why can't we just let the failing companies fail, and the successful companies succeed? People will lose jobs, but the successful companies will hire as they grow. To me, it seems that bailing out these losing companies will only limit growth from those that practice smart business. Some of these companies need to fail, it's part of business evolution. - 1hrSleep, on 11/07/2009, -8/+48And like every other article related to the economy...
Everyone's suddenly an economist.
...Except for the part where nobody knows anything about economics. - nepidae, on 11/07/2009, -10/+49hell yeah
- Grizzleyt, on 11/07/2009, -12/+49This article seems to be more about how much he hates AP.
- robertisaar, on 11/07/2009, -2/+38You repossesed my battleship.... :(
- 1hrSleep, on 11/07/2009, -4/+38You sunk my battleship.
- bjornski, on 11/07/2009, -8/+42What jobs? The ones that we keep shipping to China?
We don't NEED this many laborers in this country anymore. What did people expect to happen?
The only way we'll get the jobs back is when our incomes more closely match those of the countries we keep shipping jobs to.
But at least China provides health care, so it takes the cost away from the companies who do business there, making it MUCH more attractive to them. - kalvinb, on 11/07/2009, -3/+33Tim Geithner was called out on Meet the Press for claiming the stimulus worked better than expected. The host pointed out that they expected unemployment not to go above 8% with their stimulus package. It was a big selling point.
Obama never gives any details for anything. It's his way of avoiding responsibility for his policies and their results.
http://www.huffingtonpost.com/2009/11/01/geithner- ... - MacHarborGuy, on 11/07/2009, -3/+29okay, fine, have it your way. It bunny-hopped to 10.2%.
- 1hrSleep, on 11/07/2009, -4/+28Dude, you're using economics knowledge. You don't belong here.
- mbraynard, on 11/07/2009, -35/+59Yes, yes he did. Because he will say anything.
Again, he is a proven liar. - thrashertm, on 11/07/2009, -2/+25The GDP has not increased - the government produced numbers include government spending and are as phony as a $3 bill.
Peter Schiff breaks it down succinctly here - http://www.youtube.com/watch?v=OKv1qg-K78o - RyanGaines, on 11/07/2009, -22/+45Actually, high unemployment could be a determinant of an economy coming out of a recession.
See, "Discouraged Workers" which are people without jobs not currently looking for jobs, are not included as Unemployed. Thus, when many people want to join the workforce again at once, there is an initial increase in unemployment, because "Discouraged Workers" start searching for jobs, thus being considered "Unemployed"
I'd bet we're at a turn around. Because historically, we experiance recessions during the end and the begging of the decade.
Just my 2 cents - NorthMass, on 11/07/2009, -1/+23U6 = people who want full times jobs but have no job or are working 15 hours a week at Wal-Mart.
- kalvinb, on 11/07/2009, -3/+25The recession is over when the GDP increases for two consecutive quarters.
So no, it's not (officially) over. One quarter of a boost is mostly attributed to the failed cash for clunkers debacle (most people traded in old ford trucks for new ford trucks. Not much of a coincidence that Ford posted a huge profit) and the home buyers tax credit. With those things over we'll see if the boost sticks. Ford's stock hasn't really budged because investors don't see Ford as genuinely doing well.
Based on numerous real and fake stock portfolios I'm tracking they all consistently bottomed out in about March of this year. So based on stock data I'd say the economy bottomed out in March. However, until real job recovery happens it's not going to feel over.
And until the government stops pumping fake money into the economy, people aren't going to trust that real money is being spent. - NorthMass, on 11/07/2009, -21/+42With the stimulus, the White House said that unemployment would peak at 8% and would be going down right now. Obama has failed.
http://michaelscomments.files.wordpress.com/2009/0 ... - ArgleFargle, on 11/07/2009, -25/+46I know that we Americans have short term memory issues, but can't a little blame be pointed at the 8 years of wars that GW Bush, and his evil henchman Dick Cheney started? Haliburton is doing just fine, I'm sure. All the oil companies are doing fine.
President Obama can't undo 8 years of ***** in 1 year. Is he perfect? No. I honestly expected better by now. But I honestly think he needs more time. The GOP being the party of "NO!" certainly doesn't help. - squasheddog, on 11/07/2009, -1/+22includes part time workers who want to work full time.
- joshuasortino, on 11/07/2009, -5/+25"really not that significant"
Tell that to the 7.3 million people without jobs. (Source: http://www.marketwatch.com/story/unemployment-rate ... - inactive, on 11/07/2009, -5/+24no, it hasn't been anticipated and yes, it's VERY significant.
- thrashertm, on 11/07/2009, -3/+21The fact that you have such an emotional investment in Obama that he's "my president" makes me wonder when you'll wake up to realize that he doesn't care about you. He serves his corporate masters just like Bush and Clinton.
- thatsmyaibo, on 11/07/2009, -6/+24Hey, they prevented 100 million jobs lost...or least they can say that since there is no way to actually track that number...
- nailbunny, on 11/07/2009, -21/+38Recession officially ends when the gdp increases, which it has. This means that as a country, the bottom has been hit and the recovery has begun. Some indicators, such as unemployment, are only bottoming now of course, but technically as I've said the recession's ending.
The stimulus mostly addressed a major problem, if not the major problem that led to the recession, a lack of liquidity in banks that restricted lending. A great deal of the country's value was based on money that didn't actually exist, so when all the loans were called off the country suddenly became poorer due to a shortage of cash.
Printing money isn't all that bad for this reason. A cheaper dollar also increases us exports, which brings manufacturing jobs back to the us. - MacHarborGuy, on 11/07/2009, -12/+28question sheet
1) do we still have a puppet as president?
2) is his name Bush?
3) ???
4) Profit? - MacHarborGuy, on 11/07/2009, -1/+17""Discouraged Workers" which are people without jobs not currently looking for jobs, are not included as Unemployed."
They are included as XBox Live players - ELWOOD_BLUES, on 11/07/2009, -14/+30Oops, his administration did. Therefore, he did.
And when it went past 8%, Joe Biden said "Everyone Guessed Wrong" on Unemployment Numbers. Guessed? Guessed? WTF!!!
We are screwed. Face it. I hope we can stay above water until the power shift. - kaosethema, on 11/07/2009, -0/+16i hope you lose your job soon... we'll see how funny that joke is then
- chikuten, on 11/07/2009, -4/+18Is this what newsbusters.org is? Some drawn out dribble from some whiny bitch crying about how AP reported the news as it was at the time?
I should have read the URL before I clicked because I was expecting a real article on the unemployment rate. - DeadpoolPHP, on 11/07/2009, -1/+15http://www.huffingtonpost.com/2009/11/06/unemploym ...
http://www.msnbc.msn.com/id/33713864/ns/business-p ... - thebreach, on 11/07/2009, -6/+2010.2 doesnt seem like a very big number until you realize that means many MILLIONS of people are having a really tough time finding work
- ericdano, on 11/07/2009, -7/+21Its a number play. The number of unemployed is a lot higher. They are not counting people who are self-employed and out of work, because these people (like me) do not qualify for unemployment.
Perhaps when the rate continues to rise people will realize that Obama and the Democrats are clueless. The "Stimulus" isn't working at all. It made NO SENSE at all for Obama to raise taxes on people who create jobs. Look at the insane taxes people who have companies that are S Corp types. Which is the bulk of small to medium businesses. Revenue they could be putting back into the business now goes to taxes. - nailbunny, on 11/07/2009, -5/+19my stocks are way up
- ArxUmbra, on 11/07/2009, -2/+16Rabble Rabble Rabble
- dayal911, on 11/07/2009, -3/+17Here's an article from a pulitzer prize winner
http://www.politifact.com/truth-o-meter/statements ...
http://www.foxnews.com/politics/2009/06/14/biden-s ...
http://answers.yahoo.com/question/index?qid=200907 ... - cmcagle, on 11/07/2009, -0/+13It drives me just a little crazy when I hear people saying that unemployment is "less than half" as bad as it was during the Great Depression; it's an apples-to-oranges comparison, as the statistical methods have changed significantly since the 1930s. If you want a real comparison of the two time periods, you need to compare Depression-era unemployment (around 25%) to U6, not U3 (the commonly-used modern measure of unemployment).
- NorthMass, on 11/07/2009, -5/+18well the white house claimed they did, they said the stimulus wouldn't let unemployment go above 8%, just like bush claimed his stimulus would bring us back to prosperity.
http://michaelscomments.files.wordpress.com/2009/0 ...
and some economists do know what they are talking about
http://site.theaustrianswereright.com/ - sigmaman2, on 11/07/2009, -5/+18I think the problem is with these "too big to fail" companies.
It's not that "too big to fail" means that their size makes them secure. Rather it means that if they fail, they'll take a planetary crapload of the economy with them, and governments and institutions will do anything to prevent that.
If GM, Chrysler, AIG, et al, were allowed to fail, it would severely damage the entire world economy, not to mention the US economy. So, instead of allowing a crash landing of the economy, governments open a parachute to soften the blow. - aurorous, on 11/07/2009, -9/+22As much as Bush's time in the white house was about 9/11 and the wars, Obama's will be about the economy, that chart you have there is Obama's "mission accomplished" banner.
- murrdpirate, on 11/07/2009, -5/+17Honestly, I wouldn't expect everything to be fine in a year, but what Obama and congress are doing is going to make things even worse. If we just let the market correct itself we would have been recovering by now. It would have hurt, but all we're doing is delaying the inevitable.
- Ighuc, on 11/07/2009, -7/+19Unemployment has always and will always lag changes in the economy, it's because of ***** sites like newsbusters that people forget this.
- inactive, on 11/07/2009, -4/+16National unemployment is actually 22%.
The one thing we DO know is the government lies consistently..
I trust ShadowStats before the liars and thieves.
http://www.shadowstats.com/alternate_data - superkendall, on 11/07/2009, -1/+13But the "Discouraged Workers" numbers went up too...
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