So much for all those jobs Lite 'saved' or created...UE highest rate since 1983

[memyselfI]

Good to know that while home is burning our Carsalesman in Chief is out pimping his city for sports. :#

If the somber mood on CNBC is any indication of what the day will look like then it's not going to be pretty.


http://finance.yahoo.com/news/US-Sept-nonfarm-payrolls-rb-589941939.html?x=0&.v=1

[BigRedChief]

this is bad news, but not unexpected. What I read since Obama took office was that unemployment would reach 10% before the end of the year. Jobs are the last part of a recovery.

There are plenty of signs that the economy is starting to turn around. But, we will know for sure by the first of next year whether a recovery is taking place or not. It will be clear by then. For all of our sakes, we had better hope so.

[dirk digler]

this is bad news, but not unexpected. What I read since Obama took office was that unemployment would reach 10% before the end of the year. Jobs are the last part of a recovery.

There are plenty of signs that the economy is starting to turn around. But, we will know for sure by the first of next year whether a recovery is taking place or not. It will be clear by then. For all of our sakes, we had better hope so.

Yep. They have long predicted the unemployment rate would hit 10%.

In this link they say the economy started to grow in the 3rd quarter but companies are still holding off hiring anyone.

[Amnorix]

Yep. They have long predicted the unemployment rate would hit 10%.

In this link they say the economy started to grow in the 3rd quarter but companies are still holding off hiring anyone.

Things seem to be picking up a bit. A bit more deal activity and banks are coming out from their shell and peeking around.

There's also at least TALK about doing deals. For about six months there, nobody was even talking about doing deals. If credit starts to ease up, then things will really start to get moving again.

I'd expect alot of caution as we return to economic growth, however, so don't expect to see any kind of gangbuster growth.

[HonestChieffan]

Deal making at the top of the heap is not creation of jobs. Small business is still running scared with little or no investment back into the business and major cost containment through staff reduction, hours worked reductions and super close inventory management. With the threat of higher taxes in the near future and possibility of costs increasing if some sort of HC goes through and the unknown impact of cap and tax, small business is not going to be looking to add any cost to operations whatsoever.

[Amnorix]

Deal making at the top of the heap is not creation of jobs. Small business is still running scared with little or no investment back into the business and major cost containment through staff reduction, hours worked reductions and super close inventory management. With the threat of higher taxes in the near future and possibility of costs increasing if some sort of HC goes through and the unknown impact of cap and tax, small business is not going to be looking to add any cost to operations whatsoever.

While I don't disagree with any of this, what I'm saying is that the deal-making is starting to filter down. I don't work with the Morgan Stanleys and Goldman Sachs of the world. I operate in the middle market arena, which has been pretty dead for a while. Even the top rungs were dead. The top rungs are starting to show some life, and it will definitely starting trickling down and through the entire economy.

[SHTSPRAYER]

Yep. They have long predicted the unemployment rate would hit 10%.

In this link they say the economy started to grow in the 3rd quarter but companies are still holding off hiring anyone.

this is bad news, but not unexpected. What I read since Obama took office was that unemployment would reach 10% before the end of the year. Jobs are the last part of a recovery.

There are plenty of signs that the economy is starting to turn around. But, we will know for sure by the first of next year whether a recovery is taking place or not. It will be clear by then. For all of our sakes, we had better hope so.


B.O. didn't say that the stimulus package had to be passed to keep Unemployment from going past 8%?

[petegz28]

Obama is about 4 million jobs off the 3 million he said he would create. I don't think he created 1 of the 600k he promised over the summer. Not saying it is his fault, per say, but it should teach him not to run his fucking mouth.

[petegz28]

Yep. They have long predicted the unemployment rate would hit 10%.

In this link they say the economy started to grow in the 3rd quarter but companies are still holding off hiring anyone.

Bullshit!!! He said it would cap at 8.5% because of the porkulus bill.

[BigRedChief]

B.O. didn't say that the stimulus package had to be passed to keep Unemployment from going past 8%?No

[ChiTown]

IT'S BUSHCO'S FAULT !!!!!!!!!!!11111111111111!!!!!!!!!!!!!!!!!!1111111111

[BigRedChief]

Bullshit!!! He said it would cap at 8.5% because of the porkulus bill.Link? Your FOS.

June. Abc news.
http://blogs.abcnews.com/politicalpunch/2009/06/president-obama-predicts-unemployment-will-hit-10-this-year.html#

President Obama Predicts Unemployment Will Hit 10% This Year

June 16, 2009 4:39 PM

--------------------------------------------------------------------------------------------------------

http://www.thegrio.com/2009/06/obama-addresses-african-american-unemployment.php

June

<SMALL>JIM KUHNHENN
Associated Press Writer</SMALL>
WASHINGTON (AP) -- Amid rising public impatience with an economy now under his watch, President Barack Obama on Tuesday said his administration needs to push money out faster to initiate a recovery.
He also conceded that unemployment would rise above 10 percent.
"People are going through a very tough time right now," Obama said at a White House news conference. "And I don't expect them to be satisfied."

[HonestChieffan]

While I don't disagree with any of this, what I'm saying is that the deal-making is starting to filter down. I don't work with the Morgan Stanleys and Goldman Sachs of the world. I operate in the middle market arena, which has been pretty dead for a while. Even the top rungs were dead. The top rungs are starting to show some life, and it will definitely starting trickling down and through the entire economy.

You have better info than I would at that level. Employment is so impacted by smaller employers that what I see right now is not a good omen. Many of my contacts are saying the same things...no confidence in what to expect in 12-24 months, demand/business is flat to more declines, the deflation impacts in some areas, and overall the customer base is still very scared to spend money. We see it in service industry and i business serving other business as well as in ag business.

The other huge factor is the underemployment numbers and the impact that has on the numbers. We have an inventory of unused hours in the people who are employed at less than 40 hour weeks. Before anyone hires new people they will expand the hours of the ones they have working in cutback hour situations causing the unemployment figures to not change a bit.

Im also still seeing some business reducing excess equipment and inventory as things stay slow. If a person needed to buy a Bobcat or Case skid loader right now they are deeply discounted. And leased equipment is being dumped left and right back to the owners.

[SHTSPRAYER]

No


Oh ok, so now we're just gonna make stuff up. I see.

:ZZZ:

[petegz28]

No

Bullshit!

[petegz28]

Link? Your FOS.

June. Abc news.
http://blogs.abcnews.com/politicalpunch/2009/06/president-obama-predicts-unemployment-will-hit-10-this-year.html#

President Obama Predicts Unemployment Will Hit 10% This Year

June 16, 2009 4:39 PM

--------------------------------------------------------------------------------------------------------

http://www.thegrio.com/2009/06/obama-addresses-african-american-unemployment.php

June

<SMALL>JIM KUHNHENN
Associated Press Writer</SMALL>
WASHINGTON (AP) -- Amid rising public impatience with an economy now under his watch, President Barack Obama on Tuesday said his administration needs to push money out faster to initiate a recovery.
He also conceded that unemployment would rise above 10 percent.
"People are going through a very tough time right now," Obama said at a White House news conference. "And I don't expect them to be satisfied."



Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers — leading proponents of a stimulus bill — predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn't quite worked out that way. Last month, the jobless rate in the U.S. hit 9.5%, the highest level it has reached since 1983.

http://www.time.com/time/business/article/0,8599,1910208,00.html

[petegz28]

Oh ok, so now we're just gonna make stuff up. I see.

:ZZZ:

Obviosuly he is. I have not seen someone so blatantly revise history in recenmt memory like he is.

[petegz28]

FactCheck presents a couple of insightful charts which falsify the Obama administration’s unemployment outlook and stimulus projections. Here are the basic features:

•Without a stimulus package, Obama’s team predicted unemployment would hit 9% early next year. However, it’s already at 9.4% and climbing.
•With a stimulus package, Obama’s team predicted unemployment would max out at 8% later this year. Again, it’s already at 9.4%.



OOPS there Mr. BRC

[cookster50]

Hey now, we can't let facts get in the way of our hopes and dreams!

[patteeu]

Yep. They have long predicted the unemployment rate would hit 10%.

In this link they say the economy started to grow in the 3rd quarter but companies are still holding off hiring anyone.

Obama promised that he would be able to keep unemployment below 8% if Congress passed the porkulus bill.

http://www.moonbattery.com/epic_fail.jpg

[SHTSPRAYER]

Obviosuly he is. I have not seen someone so blatantly revise history in recenmt memory like he is.


It's a shame watching a grown man just give his integrity away like that.

[patteeu]

Link? Your FOS.

June. Abc news.
http://blogs.abcnews.com/politicalpunch/2009/06/president-obama-predicts-unemployment-will-hit-10-this-year.html#

President Obama Predicts Unemployment Will Hit 10% This Year

June 16, 2009 4:39 PM

--------------------------------------------------------------------------------------------------------

http://www.thegrio.com/2009/06/obama-addresses-african-american-unemployment.php

June

<SMALL>JIM KUHNHENN
Associated Press Writer</SMALL>
WASHINGTON (AP) -- Amid rising public impatience with an economy now under his watch, President Barack Obama on Tuesday said his administration needs to push money out faster to initiate a recovery.
He also conceded that unemployment would rise above 10 percent.
"People are going through a very tough time right now," Obama said at a White House news conference. "And I don't expect them to be satisfied."

I know you know better than this. Don't let your love for Obama drive you to dishonesty.

Obama's predictions of 10% unemployment only came after his administration's predictions of no greater than 8% had already been obliterated by reality. The 10%+ prediction was a CYA move so that if it didn't happen he could claim to have succeeded beyond anyone's expectation and if it did, his less than honest minions could point to it like you just did.

[BigRedChief]

OOPS there Mr. BRCyou are quoting facts from January. Economy's change in 6 months. Your whole premise is BS. The stimulus was not sold on it being able to keep unemployment below 10%. Thats just not true.

[SHTSPRAYER]

you are quoting facts from January. Economy's change in 6 months. Your whole premise is BS. The stimulus was not sold on it being able to keep unemployment below 10%. Thats just not true.

So what exactly was the stimulus "sold on"? What exactly was it supposed to do?

The economy is in the crapper and continues to get worse. What is this jackass you voted for doing about it?

[banyon]

Obama is about 4 million jobs off the 3 million he said he would create. I don't think he created 1 of the 600k he promised over the summer. Not saying it is his fault, per say, but it should teach him not to run his ****ing mouth.

Didn't I already call you out on this distortion before?

http://www.chiefsplanet.com/BB/showthread.php?t=212431&highlight=obama+create&page=3

[wild1]

"we inherited"

"previous administration"

[wild1]

I know you know better than this. Don't let your love for Obama drive you to dishonesty.

Obama's predictions of 10% unemployment only came after his administration's predictions of no greater than 8% had already been obliterated by reality. The 10%+ prediction was a CYA move so that if it didn't happen he could claim to have succeeded beyond anyone's expectation and if it did, his less than honest minions could point to it like you just did.

Exactly. Revise the prediction and then claim you were right and your plans worked.

[petegz28]

you are quoting facts from January. Economy's change in 6 months. Your whole premise is BS. The stimulus was not sold on it being able to keep unemployment below 10%. Thats just not true.

You're right. The stimulus was sold on keeping unemployment below 8%, not 10%. ROFL

God damn, man, pay the fuck attention. You're wrong. Just fucking admit you made a mistake and move on.

[Silock]

You know, this past week, I was starting to regret my move into cash. After yesterday and so far today, I'm not feeling GOOD about it, but less bad.

[petegz28]

BRC....you're FOS..

http://www.factcheck.org/Images/image/2009/Articles/6_16_2009_Making_Sense_Stimulus_Spending/Romer-Bernstein_Chart.jpg

http://www.factcheck.org/Images/image/2009/Articles/6_16_2009_Making_Sense_Stimulus_Spending/Romer-Bernstein_Chart.jpg

The Obama team originally estimated, for example, that unless a stimulus plan was enacted, the unemployment rate would reach nearly 9 percent sometime in the first three months of next year, as shown by this chart, which we copied from the original Romer-Bernstein study

[petegz28]

You know, this past week, I was starting to regret my move into cash. After yesterday and so far today, I'm not feeling GOOD about it, but less bad.

Yea, we are moving into a correction now. Finally.

[petegz28]

Didn't I already call you out on this distortion before?

http://www.chiefsplanet.com/BB/showthread.php?t=212431&highlight=obama+create&page=3

Yea, I know, you bought the head fake he did from "create" to "create or save". ROFL

If that isn't a BS move in and of itself.

[BucEyedPea]

this is bad news, but not unexpected. What I read since Obama took office was that unemployment would reach 10% before the end of the year. Jobs are the last part of a recovery.

There are plenty of signs that the economy is starting to turn around. But, we will know for sure by the first of next year whether a recovery is taking place or not. It will be clear by then. For all of our sakes, we had better hope so.

Yeah, but it won't recover much under his spending either. And if you think there is any recovery then I've a bridge to sell ya'. It's smoke and mirrors.
It's been a recovery for the bailed out banks. Cash for clunkers have driven the price up of used cars by reducing the supply of old ones. Those are the cars poor people buy.

[HonestChieffan]

Yeah, but it won't recover much under his spending either. And if you think there is any recovery then I've a bridge to sell ya'. It's smoke and mirrors.
It's been a recovery for the bailed out banks. Cash for clunkers have driven the price up of used cars by reducing the supply of old ones. Those are the cars poor people buy.

Poor people buy cars? Where do they go in them?

[petegz28]

Poor people buy cars? Where do they go in them?

To file for welfare, of course!

[SHTSPRAYER]

Yea, I know, you bought the head fake he did from "create" to "create or save". ROFL

If that isn't a BS move in and of itself.

Banyon is to B.O. what Goebbels was to Hitler.

[SHTSPRAYER]

RIDDLE ME THIS, EGGBATS!!!! WHERE ARE THE F'N JOBS???

[dirk digler]

Obama promised that he would be able to keep unemployment below 8% if Congress passed the porkulus bill.



And they admitted they were wrong and then said it would get to 10% and that was 4 months ago.

[petegz28]

And they admitted they were wrong and then said it would get to 10% and that was 4 months ago.

They didn't "admit" they were wrong. It was thrown in their face when the unemplyment rate shot through 8% like a hot knife through butta!

They had no choice. And in their admission they immediately blamed Bush for their being wrong.

They sold the stimulus bill they wanted so bad on false pretenses and you want to excuse them cause they said "we were wrong".

NO SHIT! And a buttload of people said they were wrong from the start.

[SHTSPRAYER]

They didn't "admit" they were wrong. It was thrown in their face when the unemplyment rate shot through 8% like a hot knife through butta!

They had no choice. And in their admission they immediately blamed Bush for their being wrong.

They sold the stimulus bill they wanted so bad on false pretenses and you want to excuse them cause they said "we were wrong".

NO SHIT! And a buttload of people said they were wrong from the start.

BULLSEYE!

:clap:

[dirk digler]

They didn't "admit" they were wrong. It was thrown in their face when the unemplyment rate shot through 8% like a hot knife through butta!

They had no choice. And in their admission they immediately blamed Bush for their being wrong.

They sold the stimulus bill they wanted so bad on false pretenses and you want to excuse them cause they said "we were wrong".

NO SHIT! And a buttload of people said they were wrong from the start.

My assumption is that since they said it is going to be 10% that is a tacit admission they were wrong.

Also jobs are always the last to rebound and aren't all the economic indicators improving?

[HonestChieffan]

More gubment jobs. Workin for the gubment is always good cause you can't get fired.

[petegz28]

My assumption is that since they said it is going to be 10% that is a tacit admission they were wrong.

Also jobs are always the last to rebound and aren't all the economic indicators improving?

Once again, dirk, they had no choice. They were forced into saying this. This was not an admission of fault as much as an aknowlegment of the facts they could no longer deny. And as every economist tried to tell them about the 8% being wrong, they are also saying this will be a jobless recovery. Factory orders were down thismorning , home sales are down, retail sales are not improving. And Obama is doing everything to increase the costs of living on everyone to boot. You can do the math.

[BucEyedPea]

Lions and Tigers and Bears. Oh my! The people are saving their money which will help it recover. That's who's gonna do it—not the gubm't. The economy is about what the PEOPLE do....not the central planners. The cps just muck it up! Freedom works folks!

[SHTSPRAYER]

My assumption is that since they said it is going to be 10% that is a tacit admission they were wrong.

Also jobs are always the last to rebound and aren't all the economic indicators improving?

We keep hearing that from the O-bot apologists. :rolleyes:

Tell me, Dirk, you seem to fancy yourself an economist, what are leading indicators?

[bkkcoh]

they said on the radio here in columbus that the true unemployment rate was 17%

[petegz28]

they said on the radio here in columbus that the true unemployment rate was 17%

That is correct.

[BucEyedPea]

they said on the radio here in columbus that the true unemployment rate was 17%

Yeah, we don't compile the numbers on this the same way as done in the Depression. Those are depression numbers though.

[bkkcoh]

Yeah, we don't compile the numbers on this the same way as done in the Depression. Those are depression numbers though.

I thought the depression numbers were upwards of 30%?


the unemployment rate for teenagers is upwards of 50%, how much of that is related to the minimum wage increase and how much of that is related to the economy?

[wild1]

Yeah, we don't compile the numbers on this the same way as done in the Depression. Those are depression numbers though.

It's saying something that the true rate is 17%, in this day when technology allows people to find jobs faster and we can travel to jobs that are further away from our homes. Generally the frictional unemployment rate is much lower than it would have been in those days for the same state of affairs.

[wild1]

I thought the depression numbers were upwards of 30%?

the unemployment rate for teenagers is upwards of 50%, how much of that is related to the minimum wage increase and how much of that is related to the economy?

25% or so I think.

Teens are the most easily cut and replaced as needed to save costs.

[RINGLEADER]

Yep. They have long predicted the unemployment rate would hit 10%.

After he predicted it wouldn't rise above 8% if we passed his porkulous bill...

:rolleyes:

[Inspector]

I aint skeered. I know if I keep checking my mail box one of these days, soon I hope, I'll be getting my stimulus check.

We are getting them, right?

[LOCOChief]

A bit more deal activity and banks are coming out from their shell and peeking around.
.

Ahh, no they're not, we are in fact starting to see how undercapitalized we are. The conscientious in the banking industry by those in "the know" is the next bucket of troubled assets is commercial Real Estate, just wait and see how that impacts consumer confidence.

May sound dooms day and to some extent it is and I hope this post proves ultimately to be bs , one thing is for sure we’ll know soon.

[patteeu]

And they admitted they were wrong and then said it would get to 10% and that was 4 months ago.

The Bush administration admitted that their intelligence on fresh Iraqi WMD stockpiles was wrong too so does that make it all better or are they still responsible for the mistake that so many relied upon when the debate about the policy mattered?

[KCWolfman]

Government (US, State, and City level) is now the largest employer in the US.

Q: The largest employer produces what product?
A: Absolutely nothing

Perhaps we should focus on being productive human beings instead of regulating every process completed.

[SHTSPRAYER]

http://www.moonbattery.com/bankrupt.jpg

[banyon]

Yea, I know, you bought the head fake he did from "create" to "create or save". ROFL

If that isn't a BS move in and of itself.

What "head fake"? That was the original quote.

Is this really that hard to understand?