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It's a jobless recovery alright

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October 03, 2009 – Comments (9)

Those Keynesians sure know how to pull off a jobless recovery don't they?

U.S. job losses unexpectedly accelerated last month and the unemployment rate reached the highest level since 1983, signaling any recovery in consumer spending and economic growth will be slow to develop.

And you said our solutions were too harsh. 

David in Qatar

9 Comments – Post Your Own

#1) On October 03, 2009 at 10:47 AM, whereaminow (< 20) wrote:

Link to Bloomberg article

 

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#2) On October 03, 2009 at 11:11 AM, SkepticalOx (99.50) wrote:

I fear that what they're doing today (stimulus, bailouts, while increasing debt), will only make the next one so much bigger. None of the core issues are being solved.

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#3) On October 03, 2009 at 11:13 AM, SkepticalOx (99.50) wrote:

With that said... I'm not sure if there's political will to do it.

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#4) On October 03, 2009 at 11:17 AM, devoish (96.56) wrote:

You said, "we said your solutions were to harsh" not anyone else. I said your solutions would not play out like you claim they would. Just like the promises delivered by people who said the same things you do.

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#5) On October 03, 2009 at 11:50 AM, whereaminow (< 20) wrote:

devoish,

This one's not directed at you.  "Your solutions are too harsh" was pretty much the standard main stream media line directed at Ron Paul, Peter Schiff and Jim Rogers after they acknowledged that they had been correct about the real state of the economy.

David in Qatar

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#6) On October 03, 2009 at 11:58 AM, topsecret09 (39.58) wrote:

  Omams says that If we pass this MONSTROSITY of a health care bill,and It Includes a "Public Opition" that this will solve all of our problems,and businesses will start hiring again,and everything will be right with the world !!!   L   O    L  !   #3) On October 03, 2009 at 11:50 AM, topsecret09 (54.13) wrote:

Obama links job growth to health care proposal   Obama: Businesses will hire more workers if health care bid passes; GOP attacks Dems' policies
By Charles Babington, Associated Press Writer On Saturday October 3, 2009, 10:07 am EDT  Buzz up! 21 Print

WASHINGTON (AP) -- As the unemployment rate climbs, President Barack Obama is trying to make the case that his health care overhaul would create jobs by making small business startups more affordable.   LOL !!!!!!!!!!!!!

AP - President Barack Obama gestures as he speaks in the Rose Garden of the White House in Washington, Friday, ...

Dismissive Republicans blamed the continuing job losses on Democratic policies and said the president's health proposals won't help.

In his weekly radio and Internet video address Saturday, Obama linked one of his biggest challenges -- joblessness -- with passage of far-reaching changes to the nation's health care system.

If aspiring entrepreneurs believe they can stay insured while switching jobs, Obama said, they will start new businesses and hire workers.   LOL !!!!!!!!!!!!

The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The government reported Friday that the economy lost a net total of 263,000 jobs last month, from a downwardly revised 201,000 in August. All told, 15.1 million people are now out of work, the Labor Department said, and 7.2 million jobs have been eliminated since the recession began in December 2007.

Obama said he has met people "who've got a good idea and the expertise and determination to build it into a thriving business. But many can't take that leap because they can't afford to lose the health insurance they have at their current job." (Did he mean to say they cannot hire more workers because they cannot get small business loans to grow their company??)

Small businesses create many of the nation's jobs, Obama said, and some have the potential to become big companies.  ( No Sh**t Sherlock...... ) But passing this healyhcare bill will do next to NOTHING to help the MAJORITY of small businesses In this country...

Obama praised the Senate Finance Committee for crafting a health care bill that includes many of his priorities.(Including health coverage for ILLEGAL ALIENS) Small businesses could buy health insurance through an exchange, he said, "where they can compare the price, quality and services of a wide variety of plans."

The government would subsidize health insurance for many businesses and individuals, the president said. We are all In trouble If the government gets Involved,and THIS IS WHAT WILL KILL SMALL BUSINESSES.

Obama acknowledged that a health care bill is far from final passage in the Democratic-controlled Congress.

The bill will be merged with another version and sent to the full Senate, where scores of amendments might be offered and Republicans could mount a filibuster. The House is advancing a more liberal bill that includes a public option to compete with private health insurers. The Senate Finance Committee rejected that idea.

Obama said "reforming our health insurance system will be a critical step in rebuilding our economy so that our entrepreneurs can pursue the American dream again and our small businesses can grow and expand and create new jobs again."

In the weekly Republican address, Rep. Candice Miller of Michigan said the Obama-backed $787 billion economic stimulus package fell far short of its goals. She criticized a House-passed energy bill that would set limits and costs on greenhouse gas emissions. The plan, which the Senate has not taken up, "would increase electricity bills, raise gasoline prices and ship more American jobs overseas," Miller said.

She called for deeper tax cuts for small businesses "to put our economy back on track."

As for health care, Miller said, "Washington Democrats intend to fund their government-run health care plan with cuts to Medicare benefits" and with new taxes on businesses.

Obama's address: http://www.whitehouse.gov !    !!!  

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#7) On October 03, 2009 at 6:40 PM, Nainara (< 20) wrote:

If we're losing jobs and yet GDP expands this quarter, It would imply that the employed work force is becoming more efficient.

I wonder where the efficiency gains are taking place. 

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#8) On October 03, 2009 at 6:51 PM, whereaminow (< 20) wrote:

No, it would imply that the government is spending money (your future labor) to give you some fabled honey now and make you happy.

GDP 

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#9) On October 03, 2009 at 9:34 PM, ChrisGraley (29.66) wrote:

Jobless recovery= stagflation

Does anybody else wonder why government spending hasn't had a bigger effect on GDP? It is supposed to have an exponential effect.

After all, that government spending is supposed to create jobs and put money in the hands of the consumer. Well it is because most of that money is now be hoarded by the banks to prepare for more losses.

Cash for clunkers was a good idea that missed the mark. The government should have included sales for used cars in the program and should have added the stimulus to the trade-in value of the car. The last thing that someone driving a clunker needed was more debt and the government forced it on them when it insisted on new cars. Those cars will be repoed and the consumer will have to go out and find a new clunker.

 

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