WHAT New Jobs?

JOBSgreat-depression

The US government and current Obama Administration are claiming that 650,000 jobs were created or saved under the stimulus.  REALLY?  CREATED?  Like what?

Is that why there were month over month of new jobless claims?  This is just Bullshit.  WHAT JOBS?  Show me!

However, the stimulus numbers are going public at an interesting time — the end of a week that sparked new questions about the reliability of the administration’s data. An Associated Press report Thursday found that an early progress report on the economic-recovery plan significantly overstated the number of jobs created or saved by the stimulus program….                                                      More at the        LINK

So don’t be conned by the happy talk salesmen at the Fed and Treasury and in the White House, or by their propagandists in the newsmedia, who are trumpeting the latest GDP growth figure as a sign that the recession is over, apparently in the hopes that people will run out to the mall and start spending (in those remaining stores that don’t have their windows taped or covered in plywood). What we’ve seen was a blip on the chart, engineered by a couple of “going out of business” sales by the car and housing industry.

Real unemployment—measured the honest way it used to be 30 years ago, to include those who have given up looking for work or who are working part time involuntarily—is hitting 20% (for those who are bad at math, that’s one out of five working-age Americans). Foreclosures are hitting a record. Half of laid-off workers are cashing out their 401(k)s in order to buy food. State and local governments, both major employers, are hitting a wall as tax collections plummet and federal stimulus funds run out. This is not the foundation for a renewal of economic growth; it is the precondition for a renewed or prolonged recession.

Continued>>>

http://www.opednews.com/articles/Our-Out-of-Whack-Econo…

UPDATE:           

President Obama says we are moving in the right direction, but predicts even MORE JOB LOSSES in the coming days.   Worth a view to hear what measures have been taken and what indicators the government is watching during this period of recovery.    Find the full text transcript      HERE


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