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alstry (35.90)

Isn't Benny The B's Recovery OUTSTANDING!!!!!

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January 22, 2010 – Comments (7)

Over 500,000 Americans are losing their jobs each and every week while very few are hiring

Millions are suffereing MASSIVE wage losses

He calls it recovery while government is running a $2 Trillion dollar deficit while tax receipts evaporating???  Huh????

He lies about the unemployment rate by removing millions from the workforce even though the population is growing.

His banker buddies are getting bailed out and masive bonuses while cutting off credit, raising interest rates to borrowers, and cutting rates to savers.

We have record poverty.

And real estate prices are crashing...........as millions of businesses are shutting down or scaling way back.

And he calls this a RECOVERY?????

Tell That to these guys......just a small example of what is happening day after day across America as we are on track to lose another 25,000,000 jobs in 2010.....AFTER losing 25,000,000 in 2009.

Fresno Sheriff Office Ca - 71 Job Cut Notices

Huerfano County Correctional Facility in Colorado to Close in April - 188 Jobs Lost

Johnson Controls Inc ( International ) Confirms Closing of Lakeshore Plant by March

Kornblut’s Department Store in Latta SC

Reverie Bakery Cafe in Pensacola Fl

Mary's Wicker Outlet in Volusia County FL

Social and Rehabilitation Services office in Abilene Kansas 

Indiana State Police post in Seymour 

Southeast Regional Library in Garner County NC Maybe Closing This Year

The Salvation Army Thrift Store on Fowler Street FL

A-Reliable Roofing in Southern Colorado

Waco Guaranty Branch to Close

7 Comments – Post Your Own

#1) On January 22, 2010 at 11:54 AM, miteycasey (89.32) wrote:

It's not how many jobs are lost that's important.

It's the difference between jobs lost and jobs created that's important.

 

I didn't see where you posted that there were 20,000,000+ jobs created last  year. and it's expected to ahve 20,000,000+ jobs created this year.

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#2) On January 22, 2010 at 12:15 PM, davejh23 (< 20) wrote:

miteycasey,

It's important to note that the net job loss was not 25M, however the net job loss number does understate the problem.  Millions of high-paying jobs have been replaced by low-paying jobs.  While 80% of the jobs lost may have been replaced, a much smaller percentage of lost income was replaced.  I know people that have lost jobs and quickly found new work, but all of the longer-term unemployed individuals that I know were construction managers, IT managers, etc... they were making $150K+ and now they can't find work for $40K...

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#3) On January 22, 2010 at 12:18 PM, davejh23 (< 20) wrote:

So, it's possible for GDP to shrink even as we return to "full" employment.  Net job losses/gains are not what's most important...I'd look at collective net income.

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#4) On January 22, 2010 at 4:21 PM, alstry (35.90) wrote:

Actually, my guess is most of the jobs HAVE NOT been replaced as evidenced by the MASSIVE reduction in the labor force participation rate and the OVER 20% decline in income tax revenue.

As the jobs were lost throughout 2009.....the decline in tax receipts is pretty incredible as it is a net number.

So whether you view it as collective net income or net job loss, both numbers are historically bad.....and that is why it is so sad so few can really see while so many feel.

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#5) On January 22, 2010 at 4:45 PM, bigcat1969 (96.90) wrote:

Yup I'm the guy who always harps on the participation rate.  If things keep going the way they are we could see less then half the folks in the country working in four years.  That would be down from almost two thirds at its peak which I think was in the very early years of 2000 (I haven't looked at the numbers in a while).  We have been falling for years and the pace is getting faster.  Even with a upwards bump in November, the pace the second half of the year is just as bad as the first half of the year.

That said it is correct to say that this is far from the only important number.  The amount that folks make is edging up ever so slightly, but below inflation and much slower than the cost of food.  Ultimately what matters is if people can live something like a 'normal' life.  If folks can't afford to eat, buy essentials, pay the rent and buy gas then you are looking at a huge problem for the government.  The Soviets found this out, lets try to learn from this and not repeat it.  The last Depression ended with war, I'm not sure how this one will end, but if we come out of it with the Union in one piece and not in a major war, I'll be very happy.

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#6) On January 22, 2010 at 5:01 PM, alstry (35.90) wrote:

Many already knew by 9.09 how this will play out.....

Britain raises international terror threat level to 'severe'

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#7) On January 22, 2010 at 5:24 PM, Varchild2008 (84.35) wrote:

I posted on my blog back in November an article that I wrote pointing at the "Deceleration of the Deceleration."

And this meant that while these analysts were pointing at jobs numbers, manufacturing numbers, and other economic indicators as getting "less and less bad..."  Even if we say that was true in 2009.... I discovered in November that there was a DECELERATION of the DECELERATION of things bad.

Which means that we basically hit a Peak of the "Slowing of things bad" and are now "Accelerating things bad."

And this is how you get a Double Dip Recession. 
It's a false recovery that eventually hits a PEAK and then *bam* reality sets in.

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