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
recovery.org records a little over 38,000 jobs created, officially.
Yeah, I know Red, it sucks. I voted for Obama and do not regret voting for him, but seriously, every time he or someone from his administration says “the recession is over”, I just want to scream. Come right down to it, it’s the BIG BOYS game: The rich are getting richer, the poor are getting more federal aide and the middle get screwed. Clinton, Bush, Obama… they’re all bought and paid for. The real leader of the our country, the true controller, at least for now, is Golden Sachs.
I meant Goldman Sachs.
right on lam pho and i never thought i would write this . red vix take a bow for this one .
Donno, Lam. I think you had it right the first time: They seem to be running around like they’re sporting Golden Sacks. 😉
It does not help- all this hype. In fact if they are blowing all this smoke to keep people from true panic because it is way worse than they could afford to admit, they will pay for it dearly in 2012.
Plus the democrats seem determined to sink their own ship by bailing out on ALL of us by setting up the insurance companies in a pretty position to make record profits with their “mandates” that everyone have insurance and their determined removal of a government option/medicare for all. It’s just sad. NO decent republicans can stomach staying in their rats nest of a party, and the democrats cannot do the right thing even if it is in their complete power to do so. It’s a mess.
Lam Pho,
Show me where Obama has said “the recession is over”. Every time I hear him, he says something like “We’re no longer staring over the edge of the abyss, but we have a lot of work ahead of us”. Or he’ll point to an encouraging sign, like the new GDP numbers, and say something like “While we’re encourage by these numbers, there is still much work to do”.
Wow, this IS something today! Someone on another thread actually apologized – nearly unheard of around here!
And now the grating one has refrained from calling me a commie – in fact we are in agreement, he says (#4).
I think I need a nap! All this unusual activity! 😉
Terry, 38k jobs isn’t even enough to jumpstart California. And it’s a far sight away from a MILLION JOBS that the report is rumored to claim.
I am concerned about the really nice jobs that have been outsourced like technology/IT – those folks still have mortgages and kids in colleges and other finanncial obligations – WILL those jobs ever come back?
What about decent middle class jobs in manufacturing – I’d pay a couple bucks more an item for things “Made in America” – where’s that going to being in this “jobless” recovery?
When are small businesses going to get loans from those greedy pigs we’ve already bailed out?
A LOT of the stimulus money was sidelined by states like California and school districts like SAUSD( cuts still to LOTS of teachers and ancillary staff- unnecessary, imo).
It’s just not true. NEW jobs CREATED are not significant in numbers at this point.
I saw Jim Cramer from CNBC saying that wall street is having excellent profits. Those companies are NOT selling to US citizens -instead they are selling around the world. So you have outsourced labor/matrials/products going to foreign countries and US workers are completely sidelined. Wall Street is storming – but who really cares? WHO HAS bundles and bundles of stocks, anyway?
Anon, you’re right, Obama didn’t say it, Ben Bernanke did. But lets be frank about it, Bernanke works for Obama. Yeah, he’s suppose to honest and tells the truth, but in his position, he is very aware of what his boss wants him to say; same as Greenspan and others.
And as for Obama saying “we’re no long staring over the edge of the abyss”… hell yeah, it’s annoying to hear. Why should I trust him, since he seems to just pick numbers out of the air. It’s a joke, his job creation numbers even pisses off the talking heads on MSNBC, NOT FOX BUT MSNBC. They don’t get it and are annoyed by it.
“While we’re encourage by these numbers, there is still much work to do”.
Much more to do?? Like what?? Oh I know, lets give out more money to companies “too big to fail” and to all those poor victims who spent more than they could afford on real estate, cars, credit cards… Lets just bail everyone out and spend our way out of this recession. Just make sure the money printing machine is working properly.
The real leader of the our country, the true controller, at least for now, is Golden Sachs.
Are you referring to the Giant Vampire Squid Wrapped Around the Face of Humanity, Relentlessly Jamming its Blood Funnel into Anything That Smells Like Money?
http://www.rollingstone.com/politics/story/29127316/the_great_american_bubble_machine
You got it Vern, and they’re so damn blatant about it. What Paulson did was outrageous. It was a slap in the American people’s face and politicians on both sides were on their knees kissing his ass. On top of that, he assigned a 35 year old Goldman Sachs guy to be in charge of the bailout money. It’s like “I just slapped you in the face, now bend over”
Jobs? must have been all of those temp Census jobs going around. And I just laid off a bunch here in the OC, and next week or the week after my Census boss gets to lay me off too (and himself).
Bernanke was appointed to his term by Bush. The Federal reserve seems to only work for the banks regardless of who is in charge there.
“Bernanke was appointed to his term by Bush.”
A lot of people working for Obama was appointed by Bush. If Obama didn’t want them, they wouldn’t be there much longer.
The Federal reserve seems to only work for the banks regardless of who is in charge there.”
You’re probably right!!!
es no problema mejor, mucho dinero gratis senor