Posted on 07/02/2009 5:02:32 PM PDT by Kaslin
Stimulus: More grim news — 467,000 jobs lost in June, with unemployment hitting a 26-year high of 9.5%. Some people are rightly starting to wonder: Where's that stimulus we were promised?
At this point in a normal downturn lasting 11 months, the economy should be booming — with big jumps in GDP and 300,000 new jobs each month coming mostly from the private sector.
But 18 months into this downturn, we're still losing jobs — with 2.7 million gone in the private sector just since January, when the Democrats took full control of the government.
Shrinking GDP has crushed investment. First quarter gross private domestic investment — a proxy for business investment — plunged 20%, or nearly $450 billion, annually. The outlook is grim.
Worse, the June jobs data mark a milestone of sorts: Our unemployment rate equals that of the no-growth Eurozone nations.
Why is this job decline happening? The private sector — the real engine of economic and job growth — won't hire because it's scared of what it sees coming out of Washington.
On the horizon, as far as the eye can see, are higher taxes, uncontrolled spending and layers upon layers of new regulations.
Who would hire new workers faced with that?
(Excerpt) Read more at ibdeditorials.com ...
Shout it from the rooftops!
What was shouted from the rooftops by Obizmal was CRISIS CRISIS CRISIS...that is what got us here...by design.
the UNIONIZATION of the American work force is what this is ALL About.
And corporate/private management has no ties to the country... it is free to do what it will.
So get ready for the next round of assaults on their freedoms as they will be blamed for the next round of layoffs.
When are THEY going to fight back?
B. The economy recovers tomorrow, Obama gets reelected.
Think I'll take A.
It won’t stop, it’s what O-hole wants.
Can’t have world government if America is a superpower.
Can’t be a superpower if you are de-industrialized.
Rockefeller said it in 1969, that they needed to de-industrialize the USA in order to bring about world government, and that they were going to do it. Rat-ass globalist Kissinger has said Obama’s been primed to be the guy who completes this and brings about world govt.
I hear bankruptcy law firms are hiring.
Yes, by all means !
Let’s get a sensible plan working:
(1) Curtailing the free speech and assembly of those disliked,
(2) Dissolving federations of labor,
(3) Privatizing state monopolies and abrogating social insurance laws,
(4) Stopping state “interference” in education. Technical schools would be run by big corporations,
(5) Opposing state-planned economy,
(6) Distrusting other countries,
(7) Mandatory 2-year military service; no reduction in military spending,
(8) Making the public sacrifice to solve America’s financial problems.
Small to medium size businesses are being strangled for cash. Banks, flush with bail out money will NOT lend and the downward spiral has no end in sight. How’s that for your Hope and Change there Obama voters??
Obama and family need to go to Kenya and live.
Obama embodies the worst traits of Hoover and Harding in one individual.
This is the Obama Depression. The market started to go down when it realized he was going to win — which, ironically, reinforced his chances.
I don't think he has to worry about the economy peaking too soon...
According to Obama's economic adviser Christine Romer, the stimulus package is working as planned. 19K construction jobs have been created with more on the way. She was interviewed on the Nightly Business Report yesterday..
Stimulus = Stealfromus
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