Posted on 03/07/2009 9:23:58 AM PST by Recovering_Democrat
Nonfarm payroll employment continued to fall sharply in February (-651,000), and the unemployment rate rose from 7.6 to 8.1 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Payroll employment has declined by 2.6 million in the past 4 months. In February, job losses were large and widespread across nearly all major industry sectors.
(Excerpt) Read more at link.gs ...
O ne
B ig
A ss
M istake
A merica!
bttt
But, fear not, FReepers...as we know, there will be PLENTLY damage done that *WILL* stick to him.
Do you think the HUGE DROP...more than 50% of the job losses...in the months since he was elected is a mere coincidence?
No way. Businesses knew if he got in he would sock it to them, increase regulation, raise their taxes, and have the government take MORE dollars out of the economy and spend it.
So once that happened, the job losses accelerated.
Maybe some businesses fired people in hopes of getting a bigger piece of the "stimulus" pie later, I don't know.
Look at it this way and see if you think it is coincidence...
The Zero Effect.
One year ago: On the heels of a report that 63,000 jobs were lost in February 2008, President George W. Bush acknowledged that "It's clear our economy has slowed."
63,000. That's one tenth of what was lost last month.
You can't understand why a laid off GM Worker doesn't move to Southern California to pick fruit for minimum wage?
Do you really think a worker would sell his house, move his wife and kids to where the low paying jobs are and take one instead of collecting unemployment insurance until it runs out?
Here is what must happen. The excess production of houses and other items have to be sold. Once there is no surplus supply of goods on the shelves, people will have to be hired to meet the demand. Once those who have not been laid off see workers being called back, they will believe the recession is over. They will start buying and we will be in recovery mode. We will be back on the road to prosperity. Jobs will be created and employment will grow at a rapid rate.
What Reagan did in 1981, 1982 and 1983 was the cure. He just waited until the excess supply of goods has been sold. By 1984 the demand for goods and services was greater than the supply being produced. Plants had to increase production. The surpressed demand was unleashed, and we were back in prosperity mode until production exceeded demand again.
Reagan had a batchelors degree in economics. He understood the system and how it works. Government cannot create prosperity. Prosperity is a function of productivity. When we find ways to manufacture at lower cost per item, we can afford more items. As the cost per computer went down, the number of people who bought computers went up.
one word WTO
FUBO!
Do you really think a worker would sell his house, move his wife and kids to where the low paying jobs are and take one instead of collecting unemployment insurance until it runs out?
Are you telling me there are no illegals in Michigan? They are only in Southern CA? And the only people out of work are GM workers? Ah, no. The unemployment numbers are heavier in some locations than others, but they have affected all areas of the country. And illegal immigrants, too, are everywhere. I know they are here in Nebraska. I also know several people out of work. I stand by my question - why are unemployed Americans not demanding that they be given the jobs that those here illegally have taken? In this state alone, illegals have taken over the meat packing industry and Americans were given the boot. Again, right here in Nebraska, our property taxes have gone through the roof in part to pay to provide health care and education to the children of illegals. Does it not make sense that if the illegals and their spawn were not here, there would be less money wasted on them? More jobs (albeit lower paying ones) available to the unemployed Americans?
I have had to deal with the reality of the situation and forgo my usual raise - but I was understanding and GRATEFUL to have a job!!!
Thank you for pointing that out.
Hussein’s recession is indeed HUSSEIN’S recession.
well put, umgud. All, read umgud’s message #2.
Nation of sheep
The Washington Times | Saturday, March 7, 2009 | William Murchison
Posted on 03/06/2009 4:46:03 PM PST by Delacon
http://www.freerepublic.com/focus/f-news/2201087/posts
Heads on a Stick Tax Revolt 2009 Rally!! (Fullerton, CA, 3/7/09)
KFI640am | March 6, 2009 | John and Ken
Posted on 03/07/2009 5:33:30 AM PST by abb
http://www.freerepublic.com/focus/f-news/2201303/posts
Obama: Endure, find opportunity in time of crisis
http://www.comcast.net/articles/finance/20090307/Obama/ | 3/7/2009
Posted on 03/07/2009 10:15:09 AM PST by Redgirl
http://www.freerepublic.com/focus/f-news/2201465/posts
However, it will very likeley get much worse.
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I suspect so, it seems to be a positive feedback loop (some are erroneously calling it negative feedback) as more people lose their jobs consumer spending falls of necessity and with falling sales businesses layoff more people and more businesses fold. We don’t have the cushion of a large percentage being able to live off the land as they did during the thirties. I was born in the forties and we lived what would be considered a very poor lifestyle but we had wood for heating, we had homegrown vegetables and meat and wild game and fish. Those who had little when times were good lived about the same when times were bad.
Note the ‘takeoff’ point on that unemployment chart. It coincides with our congress-critters passing the 2006 Pension Relief Act. That was the second leg of the 4-legged stool of this designer(Congress) depression...guaranteed to keep the Welfare State Enabler Party in power for the next 50 years. (the other 3 legs were 1. cancelling the ‘uptick’ rule, July 6, 2007; 2. At that time non-enforcement by the SEC of ‘failure to deliver’ short shares; and 3.Bear Market of 2000 inspired Mark-to-Market accounting rules (FASB) for ‘toxic assets’ was the first leg... spurring the bubble, then bear raids on banks).
According to a liberal idiot,(but I repeat myself). There, as we've all seen, some liberals hide out elsewhere than in the Democrat pary!
ahhh..thanks..you fixed it for me..:)
When the Market crash continued on Inauguration Day to date, down another 20%. The Bush bear officially became the Obama Bear Market. Unfortunately for him, his policies have exacerbated rather than ameliorated the Bear. The Bull may be dead for awhile if the Bear-in-chief can't be reinned in by this Kangaroo Kongress.
you left out 12 years from now, 16 years from now...if our Hugo-in-chief has the 'change' he's 'hoping' for!
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