Obamenomics

[Mike Furley]

Private Sector: cut 539,000 jobs in April
Government: added 66,000 jobs in April

Net Total: -473,000 jobs in April

Cost: trillions of dollars added to the national debt

Around the Corner: Inflation

But hey, at least Obama is trying.

Question: When, if ever, will this guy's actual record of results (not his good intentions) be scrutinized by the media and/or general public?

Sources:

http://finance.yahoo.com/news/Layoffs-slow-to-539K-in-April-apf-15180702.html?.v=22

http://www.mcclatchydc.com/251/story/67789.html

By the way, funny how when Bush had 5% unemployment from 2003-2008 the media & Democrats were calling it the worst economy ever but when Obama has unemployment nearing 9% the economy is starting to look good - except for when he needs to tank it some more to railroad through some more of his agenda.

[Medic]

I don't know what you're complaining about. Analysts predicted 600k job loses this month and it was much lower! (/sarcasm off)

That's what the media would like you to believe, that somehow this month was better because the attrition started slowing down. But for people who actually take the time to read shit:
http://www.bls.gov/news.release/empsit.nr0.htm

Reading the first paragraph tells you everything you need to know. The private sector actually lost 611k jobs. Overall unemployment declines remained consistent by adding another .4 to the total. Which in the real world means, this month was just as bad as every other month and in some cases worse.

Soapbox: I love how everyone tries to sugarcoat this shit in the media. They want people to get off the sidelines and start reinvesting to help ease the blow from the next shitstorm that's going to hit in November when inflation goes ballistic. A perfect example of this would be my companies CFP, back in January,tried to encourage me to invest as much as possible in my 401k because I'd never see stock price bargains "like these again". That's when the market was still at 11k. That sure was some sound advice....

And let's not forget, the 66,000 jobs the government created were temporary census counters. Most of which have already finished their jobs (my parents did this). So you can tack on some heavy loses for next month. Or they may try to spread out those soon-to-be-unemployed over a few months.

Tell me you all haven't heard it this last week. The mantra on radio, TV, and internet of how "The economy may finally be turning the corner". It was everywhere here in California. It's disgusting, these people should be flogged. It's so hard to trust news media anymore. You have to research everything yourself.

[The Michigan Man]

I agree with almost everything that MF and Medic stated above. Touchy feely perception makes us all feel good inside, but economics consist of hard, cold facts. No one who has lost his job takes solace in the fact that not as many other people lost jobs.

It is laughable that Bush's 5% unemployment was so horrible, while Barry Hussein's 9% is progress. Objectivity and integrity in journalism is a thing of the past, it is a joke of a profession.

[RealSchool]

I wish McCain was elected. The stockmarket would be back at 14,000, unemployment at 5%, and houses back at 2005 levels. All this without spending any money on bailing out the banks. How did you he do it? By letting them all fail, and then the tooth fairy and the easter bunny came and saved us all.

Blaming Obama for 9% unemployment is equal to calling GWB a Vietnam war hero.

[Wolvrin704]

I wish McCain was elected. The stockmarket would be back at 14,000, unemployment at 5%, and houses back at 2005 levels. All this without spending any money on bailing out the banks. How did you he do it? By letting them all fail, and then the tooth fairy and the easter bunny came and saved us all.

Blaming Obama for 9% unemployment is equal to calling GWB a Vietnam war hero.

I agree McCain would have been no better and in fact probably would have been worse. But it makes no sense to chase bad money with more money. Reforms are needed but at the expense of bankrupting my great-great grandchildren (if it takes that long), I don't think so. And I think we are still a long way away from seeing the last of the bailouts and ridiculously high federal budgets.

What is this country going to do once we finally come out of this and wages are much lower, inflation is higher, no one can get any credit and our taxes are significantly higher?

[The Michigan Man]

Blaming Obama for 9% unemployment is equal to calling GWB a Vietnam war hero.

Some people clearly lack the ability to create a coherent analogy.

[RealSchool]

Some people clearly lack the ability to create a coherent analogy.

Do you have any 10 year old email forwards you would like to post today?

[The Michigan Man]

Do you have any 10 year old email forwards you would like to post today?

No, but if you're looking for reading material I'll see if there is an online tutorial "Analogies for Dummies" to help you out

[gator]

Some people clearly lack the ability to create a coherent analogy.

Yeah, that RS post was pretty bad.:D And what were the Easter bunny and tooth fairy doing there? Obama's already beat our kids to the golden egg and the dollar under their pillow.

[RealSchool]

Yeah, that RS post was pretty bad.:D And what were the Easter bunny and tooth fairy doing there? Obama's already beat our kids to the golden egg and the dollar under their pillow.

I added the tooth fairy and the bunny for the children on this site still hiding out in school, ooops I mean getting a PHD.