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The credit card debt caused by consumer spending over the holidays will quickly destroy what's gained by any new employment.
I don't understand your comment, because it's contrary to macro economics. If consumers borrow money to spend, that increases GDP and will increase employment.
It's only a matter of whether consumers cut back in subsequent months.
Let's not believe any government data that comes out as long as Obama is president. Government is only credible when a conservative is in power.
Pathetic, bro. Pa-the-tic.
Of course that's how you'd interpret my words. I'd expect nothing different.
The President (any President) doesn't know what takes place before the document hits his desk. But i'm here to tell you that ALL KINDS of considerations are put into the data that is crunched, including political considerations.
If you don't believe me, thats your prerogative. But being ignorant of how your government works is not something to be proud of.
Last edited by AeroGuyDC; 12-02-2011 at 07:21 AM..
Reason: spelling
I don't understand your comment, because it's contrary to macro economics. If consumers borrow money to spend, that increases GDP and will increase employment.
It's only a matter of whether consumers cut back in subsequent months.
Short term blip. The ultimate consequence is that the interest the consumers pay will further enrich the biggest banks, make J6P even poorer and cause more regulations to take place, regulations that are actually crafted to ensure more long-term profitability for big banks. Rinse and repeat.
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It's amazing how the media likes to manipulate figures just so they can protect their precious "Chosen One". The figures are actually much higher than the 8 percent these so-called reporters wish to have us believe, and most of us know that.
The reality is this: So many people are still looking for work, and Darth Barry will not do anything to solve this problem. It's actually what he wants. The elections won't come soon enough.
Ah ha ha watch the Republicans wishing for the destruction of US economy just so that Obama is a one termer squirm at this news.
This is terrible news. 300K leaving the workforce and the rest taking TEMPORARY employment working in the malls fro Christmas to create an artifical rate of 8.9%. Come back when the rate gets back to 4%
A lot of people must have stopped looking for work and receiving their UI.
No way possible the UE rate dropped .4% with only 120,000 jobs created.
My thoughts exactly.
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