October was the 22nd straight month the U.S. economy has shed jobs, the longest on record dating back 70 years.

While the unemployment rate hasn't yet topped the post-World War II high of 10.8 percent set in December 1982, many say this recession is worse.

Where are all the jobs Obama promised???

All Obama and the Democrats can do is extend unemployment benefits. Explain to me how this has created jobs. Give me a break.

The best any economist can say is that current economic stats indicate that we 'might' get some real economic improvement in the next 18-24 months.

Yet all the federal government can do is fart around with new ideas to tax companies and working people for Obama's grand plans.

Here's an idea: Fire all the current economic advisors and replace them with some Econ 1A students from a local community college. A little basic common sense will do more than the politically motivated B.S. being put out by this bunch of spineless Ivy League twits.

Not even Econ 1A students can turn this ship around now.

Rebob, do you still think this level of unemployment is a lagging indicator? Americans attitudes towards credit, savings, and their job security(true leading indicators) are changing 180 degrees. IMO this makes previous data used to determine the pace and robustness or existence of any recovery useless.

Thanks to a complacent American public; the fraudsters operating on Wall Street, the Congress, and Treasury will continue to enrich themselves.

Meanwhile our monetary system continues to swirl down the inescapable vortex of deflation.

This graph represents the Obama administrations projections for unemployment without the $800 billion stimulus, with the stimulus, and the true unemployment that has occurred.

mark:

Yes I do. However in my lifetime (I'm 48) I've never seen a federal government so driven by idealogy rather than common sense. I was a teenager in the 1970's and remember the sad public attitude. However I got out of college in 1982 and until recently have enjoyed almost consistently strong economic conditions.

Despite Barak Obama and Crew, the facts remain that a majority of Americans are still working and most businesses are surviving. Because of this we have capital for investment. Note the steady improvement in the stock market. It takes a lot of people with money to consistently drive stock prices up.

Capital + Labor = Economic Growth.

Our problem occurs because there is now an extreme level of unemployment and many consumers are justifiably 'spooked' and are not spending. The lack of spending is creating a drag on any real recovery. Any recovery will be slower than in any time since WWII.

The real scary part for me is the economic illiteracy of the federal government. The inherent strength of our economy would prevail much faster if Obama took a clue from Kennedy and Reagan, and if the congress ever thought about the entire country instead of their political backers.

Still, you're right about one thing. Economic prospects are precarioius and the immediate forecast is for more tough times.

The October unemployment rate -- reflecting nearly 16 million jobless people -- jumped from 9.8 percent in September, the Labor Department said Friday. The job losses occurred across most industries, from manufacturing and construction to retail and financial.

One sign of how hard it still is to find a job: The number of Americans who have been out of work for six months or longer rose from 5.4 million to 5.6 million, a record. They account for 35.6 percent of the unemployed population, matching a record set last month.

Obama's focus is on increased spending and is making things worse.

quote:

Originally posted by rebob:
Capital + Labor = Economic Growth.

That is why this Leftist government is seizing Capital as fast as possible from the free-market, productive businesses to stuff into the government-controlled businesses (GM, etc). Carbon Cap and Trade is coming to accelerate the seizure of wealth from the hated "bourgeoisie" - the prospering, free-market business owner.

This government is not illiterate on economics. It is willful and intentional. It is Marxist ideology in practice.

It has all been done before.

Democrats ARE YOUR ENEMIES.

quote:

It takes a lot of people with money to consistently drive stock prices up.

Adjusted for inflation, stocks have gone nowhere for over a decade.

Capital + Labor = Economic Growth.

Credit= Capital, and credit is in contraction as well as public and private revenue. Labor is also contracting, and wages as well. Many of the majority of the employed are government workers, which are a net drag on the economy.

Therefore...

-Capital + -Labor = -Economic Growth

-Economic Growth x Exponential Government Debt Growth=

I will give you credit for your fantastic stock market call in late March. I say the party is now over and the upside is limited..

I scaled heavily into short positions at yesterday's close and into today.

I plan on riding this pig all the way down...

Link

quote:

That is why this Leftist government is seizing Capital as fast as possible from the free-market, productive businesses to stuff into the government-controlled businesses (GM, etc). Carbon Cap and Trade is coming to accelerate the seizure of wealth from the hated "bourgeoisie" - the prospering, free-market business owner.

I wouldn't describe GM or any of the institutions the government has bailed as productive.
They were brain dead and connected to a ventilator, and the taxpayers merely hooked up a feeding tube.

The banks are leaving us behind and moving to China! With their Obama money. The new rich working peoples. As our leaders rape us clean.
See Ya! Read my post about Master Card.
I do not owe, I do not owe, everything bough and paid for.

It is said pigs will eat anything, so it time to get some hogs and chickens.

WIRE

quote:

Now, Ford opts out of the bailout and is the only American Car company to turn a profit this year. To me, that makes them the only American Car Company. I am glad they told the Government to stick it. My next car or truck will definately be a Ford.

A lot of people recognize this, and are expressing their appreciation with their $. Maybe doing the right thing really does pay off in the end.

Also it doesn't hurt that Chrysler manufactures pieces of s###.

mark:

Gotta leave and won't be online for a few hours.

But, I disagree with your statement about the 1990's stock market. Not only did most of us make money, most of us enjoyed rising incomes during the same period. Also, while a lot of our growth was built on debt, the U.S. still built and sold stuff. Please, consider the following:

Despite recent economic news, the U.S. has the best university system, the most productive workers, an economy which encourages risk taking (despite Obama), and now a huge under utilized work force.

If the federal government ever gets real, we're poised for a long-term recovery. I'm just worried that any recovery might be stalled until Obama is a private citizen and spending his time giving speeches for millions of dollars to the people he's demonizing now.

Have a little faith in the inherent strength of this country and the principles on which it is founded. If not, where are you gonna go.

Finally, I post all the time and miss your statements. Please post more often.

quote:

But, I disagree with your statement about the 1990's stock market. Not only did most of us make money, most of us enjoyed rising incomes during the same period. Also, while a lot of our growth was built on debt, the U.S. still built and sold stuff. Please, consider the following:

Despite recent economic news, the U.S. has the best university system, the most productive workers, an economy which encourages risk taking (despite Obama), and now a huge under utilized work force.

If the federal government ever gets real, we're poised for a long-term recovery. I'm just worried that any recovery might be stalled until Obama is a private citizen and spending his time giving speeches for millions of dollars to the people he's demonizing now.

When I stated: Adjusted for inflation, stocks have gone nowhere for over a decade. I meant for over a decade from 2009, not all of the 90's.
Yes there were rising incomes throughout the 90's, along with rising inflation.

I also agree that the US has a large and diverse economy. My beef is with the total liabilities(public and private), which are increasingly outpacing US assets. This imbalance is only accepted because it hasn't blown sky high, yet. Unfortunately the liabilities must only increase from here. This is the classic nature of any ponzi scheme.

The entitlement crisis and incredible demographic shift caused by retiring baby boomers over the next couple of decades will strain and test the post WWII American economic experiment like
never before. IMO the current lot(citizens and pols) aren't up for the challenge. We'll see.

quote:

Have a little faith in the inherent strength of this country and the principles on which it is founded. If not, where are you gonna go.

I'm not going anywhere. I enjoy my life here in the USA, it's my home and I love it.
My perception of the world is what it is. I don't apologize for being super cynical and a mega bear.

Finding faith in a fraudulent, inverted pyramid of ever increasing debt is not the way of the spark. Common sense and mathematics guarantees future systemic failure. Not the end of the world, but a society shattering event that our people are not prepared to deal with.

Maybe if I come around to accepting the unacceptable I will write an autobiography entitled: It's No Big Whoop, or How I Stopped Caring And Learned To love The Ponzi Economy.