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 ...
Ahhh, but you can. He was in the 2006 Congress that passed the Pension Relief Act of 2006 that requires business to fund 90% of all future pension moneys! Enacted in 2006, it became effective January 1, 2009. What a coincidence that all these layoffs are occuring just in time to fund the remaining pensions to the Congress set limit!
Repeal the Pension Relief Act, mark-to-market, reinstate the uptick rule and enforce the requirement to 'deliver' shorted shares, and who knows the Magic Mulatto may find his Magic Wand will work after all! (ie, What the gummit destroys with the stroke of a pen it can restore with the stroke of a pen...especially if you're the Messiah).
Wow, the shortest, most factual description of this Bear Market I've ever seen. I smell a bumper sticker in there somewhere!
As long as the press keeps taking those striking pictures of Hillary in her pant suit attire...all will be fine.
Bush didn't make the financial crisis we are in now, the dems did it with Freddie and Fanny. As for Bozo doing nothing he has done plenty, pushing an unconstitutional stimulus bill, telling the country day after day how terrible things are, telling the country he inherited the deficit, when in truth he MADE most of the deficit we have now. Yep, Bush is not blameless, but if the liberals hadn't manufactured the economical melt down we saw right before the election, none of this sh** would be happening right now.
That brings to mind the corollary...What does Obama believe, that would make him APPEAR to be bent on the destruction of America? It was once said that "Social Security is black man's gift to white women." (since white women, in actuarial terms live so much longer than black men....again math, folks, not racism...just math). Perhaps Obama sees his 'wealth destruction' tactics as white women's (widow's) gift to black men! Oh, never mind... his mother was a white woman, and that would make him an Oedipus Complex Patient-in-chief.
That would be #3...business was required to 'scale back' when the 2006 Congress passed the Pension Relief Act. The Act requires business to fund 90% of all pensions beginning January 1, 2009. Like most 'labor' laws those most hurt are 'labor'.
Yep, and he's starting to make the 19 Arabs who learned to fly (but not to land) look like pussies comparing results. Wow, one-upping Al Qaeda, that has to hurt.
Bush Bear — Lost 1.8 million jobs, castigated by the media daily
Obama Bear — Lost 2.6 million jobs, adoration by the media daily.
The Zero Effect. (good description—bumper sticker quality)
bttt
“Recession is when your neighbor loses his job.
Depression is when you lose yours..” -— That’s a Reagan quotation.
Reagan understood economics. The Demo-Socialists are like their hero Karl Marx, who did not understand how a free market works. The Demo-Socialists have learned absolutely nothing from the collapse of the Soviet Union. They think taking money from “the rich” and giving it to “working families” will stimulate the economy, when any fool can see it is just a transfer, creating nothing. The more capital that remains in the hands of the people, instead of government, the more jobs will be created.
I must have run into his clone Friday when I was getting a haircut. After listening for awhile I asked a simple question.
As a businessman what incentive do I have to expand my business, or start a new one, if all I see is increased taxes, regulation and possibly forced unionization?
Never got an answer.
Great points!
The stock markets would begin to go up again. However, I doubt it would change the long term perspective of business. It's not hard to see higher taxes, more regulation, less control in hiring and firing all of which adds up to capital sitting on the sidelines.
Thanks for informing me of that. Everytime I think I know how bad things have gotten I get more awful government mandated news. If the people only knew.
That’s hilarious!
#52 lol!
You hit on something here that I thought would be mentioned sooner. The CARD CHECK vote that will soon come. These employers will find themselves with union empowered employees, whom they will not be able to fire, whose pensions, health care, sick days, vacation days, guaranteed raises etc....they will be forced to underwrite.
The auto workers’ union killed the auto manufacturing business in this country. Even now, as these companies are biting the dust, the union refuses to relent on the back breaking entitlements they forced the auto companies to agree to provide.
Think about it. Men in their early 50’s, “retired” and receiving nearly the same pay and benefits they had when actually working. This amounts to welfare as far as I’m concerned. And the best part, they can still work at other jobs.
In the past when people were living shorter lives, this may have made sense. But some of these men and women live another 30 years or more and these auto companies have to pay until they die.
Your points are all valid in a country ruled by 'class envy', which seems to be where our Department of Education and NEA have brung us. The country may also note eventually tho' that the Party of 'class envy' hasn't changed its message for 60+ years...resulting in 'The One'. If the country eventually comes to the conclusion that 'class envy' and cult following is the problem, not capitalism, that would be heartwarming, wouldn't it! That one sign at a Tea Party was encouraging..."Obama, Socialism Failed, Get Over It". There are many people out there that do understand, and we can 'hope' that common sense prevails in the end!
...resulting in more bankruptcies, more business moving offshore, fewer jobs for Americans. That result is SO predictable (given the textile, steel, auto, etc union history) you'd think that it would be a no-brainer for Congress-critters who want to keep THEIR jobs to vote down! Their constituents are also 'workers' who want to keep their jobs! Their constituents vote...the pendullum will swing back...hopefully we won't have to endure another depression before that happy result.
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