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alstry (35.02)

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August 06, 2009 – Comments (25)

NEW YORK (MarketWatch) -- If you think the nation's unemployment rate is high -- hovering at close to 10% -- consider this: Experts say that in some colleges, close to 50% of the graduates of the class of '09 still don't have full-time jobs they can call their own.

 

And we havn't even started with the Government layoffs, Post Office layoffs, and seasonal worker layoffs.

25 Comments – Post Your Own

#1) On August 06, 2009 at 6:46 PM, SRF4REAL (69.35) wrote:

Ah, well.  At least the illegal immigrants are still employed... just need to get them paying taxes! : P

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#2) On August 06, 2009 at 7:00 PM, Bkeepr100 (< 20) wrote:

The true, unadjusted unemployement rate for Great Lakes region of the USA is over 25% already.  Factories and other businesses are going out of business at a high clip with little signs of slowing.

Obama and his liberal cronies are just devistating this area with the policies they are using.

 

Protect yourself, store up some food and other necessities. The Greater Obama Depression has just started...

 

 

B-man Rick

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#3) On August 06, 2009 at 7:38 PM, SolarisKing (23.53) wrote:

If only it was Obama and his liberal cronies we could do something about it.

What almost everybody fails to understand is that there is NO SUCH THING as a political left. In fact there is no such thing as a two party system in america.

Let me explain. Almost all elections are decided by less than 2%. So every since the RIGHT started disenfranchising (removal of the right to vote) the left/poor/black vote there has been no real representation of the left.
   For instance, in many inner cities as much as 40% of the male black population between 18 and 40 is disenfranchised. As well as the poor and the pot smokers. When a rich person gets busted, they get off. If they do get disenfranchised it is temporary.

   Now, also, folks forget that the President is elected from the senators and governers and such. The senetors are elected from the representatives and such. The representatives are elected from the mayors and such. The mayors are elected from the tax assessors and the dog catchers and such.

SO IF YOU ELIMINATE THE LEFT VOTE AT THE DOG CATCHER LEVEL, THERE IS NO LEFT VOICE AT THE NATIONAL LEVEL. It is an illusion. It is only a two headed right wing monster.
   That's why it looks like they are really similar. Because they are.

The real only solution to americas problems, as silly as it sounds, is to give the vote back to the disenfranchised (legalize pot). Then you'd get a real fight up there on the hill, and some poor folks in office, and a stop to the sucking up to bankers. 

As long as we only have rich folks in office we will continue to endure this distorted POV politics.

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#4) On August 06, 2009 at 7:42 PM, alstry (35.02) wrote:

Hunger hits Detroit's middle class

 

Food has long been an issue in this city without a major supermarket. Now demand for assistance is rising, affecting a whole new set of people.

http://money.cnn.com/2009/08/06/news/economy/detroit_food/index.htm?postversion=2009080610

Thank goodness the economists are saying the recession is over, or we might all starve under the current Zombulation policies.

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#5) On August 06, 2009 at 7:49 PM, alstry (35.02) wrote:

Recession is over, says economist

 

DETROIT (CNNMoney.com) -- On a side street in an old industrial neighborhood, a delivery man stacks a dolly of goods outside a store. Ten feet away stands another man clad in military fatigues, combat boots and what appears to be a flak jacket. He looks straight out of Baghdad. But this isn't Iraq. It's southeast Detroit, and he's there to guard the groceries.

"No pictures, put the camera down," he yells. My companion and I, on a tour of how people in this city are using urban farms to grow their own food, speed off.

In this recession-racked town, the lack of food is a serious problem. It's a theme that comes up again and again in conversations in Detroit.

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#6) On August 06, 2009 at 7:54 PM, Varchild2008 (83.18) wrote:

I'm going to be visiting DETROIT tomorrow.. I'll let you know if I don't survive....never know if I get mobbed by a mob of starving zombulated citizenry...erhm.

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#7) On August 06, 2009 at 8:10 PM, angusthermopylae (39.91) wrote:

I know I'm going to get blasted on this, but here goes...

I'm not convinced that this should (or will) be called the Greater Obama Depression.  He's only been in office for about 7 months, and the groundwork for all these problems took years to be established....

...say, about 7-8 years or more?

The big bailouts were done under W's administration.  The original stimulus was on W's watch.  So was the housing boom-bust, the interest-rate fiasco (down to basically zero), the lack of SEC oversight, and a million other little things.

Also, there are lots of complaints here and elsewhere about how little of the shovel-ready stimulus bill has been spent...which doesn't exactly jibe with the sloshing around.

Don't get me wrong--I think the current administration is setting everything up for a bigger (or at least, as big of a) problem down the road.  And, like all government projects, the money will be spent, eventually....leaving us with tons of debt.

But on a time scale, the current administration only owns about 6% of the current economic situation (6 months compared to the previous 8 years).  Eventually, they'll own all of it, and the next guy will be stuck trying to fix his predecessor's messes...

...and so it goes, and so it goes...

Just my inflation-adjusted 2 cents.

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#8) On August 06, 2009 at 8:28 PM, TMFBritcodeftw (52.50) wrote:

In Detroit, it is not zombies you need to worry about, it's the gigantic potholes and sinkholes, and the bridges that are all on the verge of collapsing. Seriously. I keep wondering if the government will one day close it down and make it into a prison encampment like they did with Manhatten in 'Escape from New York'. I lived there for 4 years - my car hated me for it.

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#9) On August 06, 2009 at 8:42 PM, alstry (35.02) wrote:

It's not the Zombies....It is the Ponzi!!!!!

From Zero Hedge:

In a brilliant piece of investigative reporting, Chris Martenson (original article here) has uncovered that the Fed, merely a week after issuing $28 billion in 7 year bonds (which Zero Hedge discussed previously) via its puppet, the US Treasury, of which $10 billion ended up being purchased by primary dealers, has turned and bought 47% of the primary allocated bonds in Open Market Purchases. This is undisputed monetization removed simply via one primary dealer and less than 5 days of temporal separation in order to leave no easy trace.

 

Evidence of the FACT that government is out of money:

SAN FRANCISCO (CN) - Small businesses that received $682 million in IOUs from the state say California expects them to pay taxes on the worthless scraps of paper, but refuses to accept its own IOUs to pay debts or taxes. The vendors' federal class action claims the state is trying to balance its budget on their backs.
     Lead plaintiff Nancy Baird filled her contract with California to provide embroidered polo shirts to a youth camp run by the National Guard, but never was paid the $27,000 she was owed. She says California "paid" her with an IOU that two banks refused to accept - yet she had to pay California sales tax on the so-called "sale" of the uniforms.
     The class consists mostly of small business owners, many of whom rely on income from government contracts to keep afloat. They say California has used them as "suckers" as it looks for a way to bankroll its operations while avoiding its own financial obligations.
     "Instead of seeking funds through proper channels, the State has created a nightmare," the class says. "Many of these businesses will not survive if they are required to wait until October 2009 to have these forced IOUs redeemed by the State."
     The class claims the state is violating the Fifth and Fourteenth Amendments. It demands that California be ordered to honor its own IOUs, plus interest. They are represented by William Audet.

http://www.courthousenews.com/2009/08/04/California_Won_t_Accept_Its_Own_IOUs.htm Report this comment
#10) On August 06, 2009 at 8:46 PM, bigcat1969 (92.74) wrote:

On my recent drive across a lot of the USA taking my folks to see relatives we wanted to see Greenfield village.  After talking with the relatives, we skipped it because we didn't want to have anything to do with Detroit.  Even the folks in the rest of the state are scared to go there.  They would rather go to Chicago than Detroit if they want to hit the 'big' city.

Oh and its not about left and right, its about rich and poor.  You would think that the massive bank bailouts would have made it quite clear who the masters are and who they control.

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#11) On August 06, 2009 at 9:27 PM, alstry (35.02) wrote:

Soon.....Cities, Counties and States will be running out of money..

Tennessee cuts budget again

Faced with a continuing revenue decline, Gov. Phil Bredesen is withholding another $56.1 million from state agencies, on top of $750 million in cuts and $151 million in planned savings already built into the state budget.

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#12) On August 06, 2009 at 9:37 PM, 292972826 wrote:

Just an opinion but OBAMA is doing an oustanding Job.

It is a very difficult task to save a nation who was on the verge to elect a candidat as SARAH PALIN...

 

 

 

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#13) On August 06, 2009 at 11:52 PM, bullnada (< 20) wrote:

Alstry,

 It blows me away at how ill prepared most people are. Yes it is doom you speak and lots of gloom. People have had it so easy for so long they dont think they may have to fend for themselves. The words from the old woman who owns my local gun store" Why are you wanting so much ammo?" Just going target shooting." You can have two boxes of any caliber." two boxes!! " Yes I have not seen this since the war. "This is a true story.

 We all prepare our own way. Some shine credit cards, some shine guns. Some look at bank statements and think they are fine.Do you know how much your bank statement is worth in these times. About 2cents the paper it is printed on. Fdic out of money?.Others count gold coins. Like Al says we are in this together. So when the poo hits the fan. Help your neighbor. That is what real americans do.

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#14) On August 07, 2009 at 10:54 AM, rexlove (99.28) wrote:

Alstry,

I bet you dumped a load in your pants after seeing todays unemployment numbers.

It seems the worls is not coming to an end after all.....

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#15) On August 07, 2009 at 11:08 AM, StopLaughing (< 20) wrote:

Alstry

The bigger issue right now is health care. Take a look at Drudge. Obama is throwing union goons into the town hall fights and trying to stack the meetings. The people do not appear to be backing down. 

There easily could be riots at some of these meetings. Obama has his campaign organization but the opposition to his policies is real and not just RNC plants.

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#16) On August 07, 2009 at 11:32 AM, ChannelDunlap (< 20) wrote:

Alstry if nothing happens next month I am going to be severely disappointed.  All this hype better be for somethin'. 

 

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#17) On August 07, 2009 at 11:45 AM, ChannelDunlap (< 20) wrote:

Oh, and StopLaughing - Yes, look at Drudge, and then ask yourself where the riots are coming from.  FOX News and their loyal and ignorant view base, perhaps?  As with the "tea parties", these people have no idea what they're protesting.  I guaranty that 80% of them could not tell you what Obama's healthcare plan does, and yet because Glen Beck told them it was TYRANNY IN AMERICA, they're all up in arms. 

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#18) On August 07, 2009 at 12:05 PM, aqua2 (< 20) wrote:

And I would guaranty that 80% of the Libs couldn't tell you what the healthcare plan does.  

But...this is not a Lib verses Con issue.  It is government verses the people issue.  No one political party is better than the other, they have both become dysfunctional and corrupt working in tandem to take turns in power, taking turns sucking the lifeblood out of its citizens.

It is time for revolution.  Squeeze the sleaze out of government.

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#19) On August 07, 2009 at 12:11 PM, aqua2 (< 20) wrote:

Until people wake up and realize it is not Con vs Lib but really Us vs Them, then we just play into their game.  I have pitchforks and feathers, anybody have any tar?

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#20) On August 07, 2009 at 12:25 PM, jddubya (60.66) wrote:

This blog is titled just like the National Enquirer would like it.

Let's see...

 - Called the top in April at 8300 - WRONG

- Made a radical call of 50% unemployment a while ago - but that was "his" definition of unemployment - WRONG

- predictin S&P 555 in 9.09 - hmmm... maybe, but I'll go out on a limb and say - WRONG

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#21) On August 07, 2009 at 12:38 PM, ChannelDunlap (< 20) wrote:

I made no comment about liberals vs conservatives or dem's vs republicans.  All I'm talking about is the effect a lying, radical, extremist news organization has on a similarly minded demographic.  I don't care what your political affiliation is, watching Fox News (and believing it, to be fair, since I do watch it for a chuckle sometimes) is bad for your psyche, and they're the main push behind both the retarded tea parties and now the mindless opposition to the healthcare bill. 

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#22) On August 07, 2009 at 12:54 PM, Melaschasm (65.63) wrote:

"A measure of the aggregate hours worked did not change from June to July. The steady workweek comes after the number of hours worked has declined for 10 months."

This sounds like good news to me.

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#23) On August 07, 2009 at 3:31 PM, JerryMandering (< 20) wrote:

Riots, Dunlap?  Boy, yeah, those people look and talk like fanatics alright.  Its a good thing universities aren't full of those kinds of people lest the auditoriums be torn apart.  You make a Sad-Sack case, you know that.  Trust your good ol' government, Dunlap; its the lazy way of going through life and its worked for decades....for the lazy.

 

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#24) On August 07, 2009 at 6:05 PM, jesusfreakinco (29.07) wrote:

Al - in and of itself... this:

From Zero Hedge:

In a brilliant piece of investigative reporting, Chris Martenson (original article here) has uncovered that the Fed, merely a week after issuing $28 billion in 7 year bonds (which Zero Hedge discussed previously) via its puppet, the US Treasury, of which $10 billion ended up being purchased by primary dealers, has turned and bought 47% of the primary allocated bonds in Open Market Purchases. This is undisputed monetization removed simply via one primary dealer and less than 5 days of temporal separation in order to leave no easy trace.

This could lead to your 9.09 prediction.  It is only a matter of time before this all comes crashing down.  Our creditors can only be duped for so long...

JFC

 

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#25) On August 13, 2009 at 3:24 PM, Teacherman1 (62.24) wrote:

No offense, but Detroit has been a basket case for years. Even during the so called "boom times". My wife is from Michigan and we used to fly into Detroit and drive up to the northern part of the state. I was amazed at how much of the city looked like the after-math of a war zone. Times are tough, no doubt about it, but using Detroit as an example just doesn't fly. JMO and worth exactly what I am charging for it.

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