The truth about Obama's economy---Top Bank Analyst Predicts 13% Unemployment (money, rich, Florida)
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there is an interesting fact about unemployment statistics. The Labor Department doesn't track anyone who has moved beyond 26 weeks of unemployment in its weekly data on continuing claims (the number of people who request benefits after their first week). And, said Stella Cromartie, spokeswoman for the Bureau of Labor Statistics, said the agency does not currently have plans to begin tracking this population.
As a result, by late summer the government may begin reporting significant declines in continuing filers. But it won't be cause for celebration. Instead of of indicating that the economy is on the rebound, it could mean that more people are falling off the radar.
there is an interesting fact about unemployment statistics. The Labor Department doesn't track anyone who has moved beyond 26 weeks of unemployment in its weekly data on continuing claims (the number of people who request benefits after their first week). And, said Stella Cromartie, spokeswoman for the Bureau of Labor Statistics, said the agency does not currently have plans to begin tracking this population.
As a result, by late summer the government may begin reporting significant declines in continuing filers. But it won't be cause for celebration. Instead of of indicating that the economy is on the rebound, it could mean that more people are falling off the radar.
Yep...it also doesn't count those receiving supplemental federal unemployment in the 'official unemployment rate'...
as long as this is getting political, let's go there. obama was in the senate making policy before he was elected president. it is disingenuous for him to pretend to not contribute to our unemployment with his policy decisions. remember this:
When the Senate voted Tuesday of the Peru Trade Agreement, a critical test of U.S. economic policy that raised fundamental questions with regard to how this country will frame its economic ties to hemispheric neighbors, the five senators who would be president were the only members of the chamber who missed the vote.
If we are to trust their statements with regard to the issue: Biden and Dodd would have voted against the Peru deal, while Obama and Clinton would have supported it.
But senators who don't bother to show up get the out of being able to rewrite history – including their own statements.
these so-called free trade agreements have cost americans jobs.
now on top of that obama is blowing future american earnings to create jobs which aren't even being created.
Sorry ... but Obama being a one-term "junior Senator" and having just one vote out of 102, is nowhere near the power and influence over the economy as President Bush.
This will ALWAYS be known as the BUSH RECESSION unless something Obama does now causes a huge negative impact on the economy.
The impact of BUSH'S mismanagement over the economy will be felt for YEARS beyond his presidency, including the projected 13% unemployment.
i am not minimizing the damage that bush did to this country by signing just about every spending bill placed in front of him, nor by doing nothing about the influx of illegal immigrants flooding the country, which destabilized the employment situation. that said, i am certainly not willing to ignore the damage that obama has done to this country with his signing of every spending bill placed in front of him, including all the foreign aid bills that he has signed. he has signed foreign aid to both pakistan and israel, which i am assuming would be counterproductive to any agenda. he is promising to DOUBLE foreign aid in 2010. he also is spending money at a rate that this country CANNOT KEEP UP.
treasury auctions are two hundred thirty-five billion dollars over the next week! I guess you should get while the getting is good, but this is going totally parabolic. That money has to come out of somewhere, by the way, in order for the sale to succeed, which is going to get rather interesting at some point – but exactly where it matters is impossible to know.
I expected that when we crossed the $100 billion threshold in a week the market would throw up all over it, but it didn’t. Now we’ve got the government trying to sell a quarter of a trillion dollars in debt over the next week, the announcement is out there, and while the bond market is selling off to a material degree equities could care less!
This is flat-out insane. At this run rate we would be trying to sell twelve trillion dollars over one year’s time, an obviously ridiculous and impossible-to-peddle amount of debt at any price.
When does the rest of the world wake up (not to mention the primary dealers) and say “NO!”? Never? Is there a truly insatiable demand for our government’s debt, despite the fact that President Obama got up on the national stage last night and promised to spend another trillion dollars we don’t have?
(denninger)
i am not minimizing the damage that bush did to this country by signing just about every spending bill placed in front of him, nor by doing nothing about the influx of illegal immigrants flooding the country, which destabilized the employment situation. that said, i am certainly not willing to ignore the damage that obama has done to this country with his signing of every spending bill placed in front of him, including all the foreign aid bills that he has signed. he has signed foreign aid to both pakistan and israel, which i am assuming would be counterproductive to any agenda. he is promising to DOUBLE foreign aid in 2010. he also is spending money at a rate that this country CANNOT KEEP UP.
treasury auctions are two hundred thirty-five billion dollars over the next week! I guess you should get while the getting is good, but this is going totally parabolic. That money has to come out of somewhere, by the way, in order for the sale to succeed, which is going to get rather interesting at some point – but exactly where it matters is impossible to know.
I expected that when we crossed the $100 billion threshold in a week the market would throw up all over it, but it didn’t. Now we’ve got the government trying to sell a quarter of a trillion dollars in debt over the next week, the announcement is out there, and while the bond market is selling off to a material degree equities could care less!
This is flat-out insane. At this run rate we would be trying to sell twelve trillion dollars over one year’s time, an obviously ridiculous and impossible-to-peddle amount of debt at any price.
When does the rest of the world wake up (not to mention the primary dealers) and say “NO!”? Never? Is there a truly insatiable demand for our government’s debt, despite the fact that President Obama got up on the national stage last night and promised to spend another trillion dollars we don’t have?
(denninger)
Sandy, maybe you and Denninger need to ask yourselves one simple question.
If I'm so smart why don't I understand what rich people are doing? And if their so stupid how come I have so much less than them?
Perhaps Sandy does not wish to lie, cheat, or steal . . . nor seek to emulate nor worship those who do?
Just supposin.
Aw, poor Sandy. Lets have a pity party for her. You can be the guest of honor. snif snif.
What sort of nonsense are you talking about. If you think the only way to gain wealth in this country is to lie, cheat and steal then do yourself a favor and either move or buy a gun.
Sandy, maybe you and Denninger need to ask yourselves one simple question.
If I'm so smart why don't I understand what rich people are doing? And if their so stupid how come I have so much less than them?
maybe some people actually believe in people first, then money, then things.
by the way, it is they're so stupid, not their.....
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