Posted on 07/03/2009 6:13:51 AM PDT by Need4Truth
... I’m not particularly bearish or bullish with respect to stocks right now, but I am a pragmatist. The fact is that the leading indicators of employment have been weakening, yet the consensus has been ready to reap the fruits of the so-called “green shoots.” ... What has been happening to the length of the work week? It has hit all-time lows the last two months. That’s right. The only official leading indicator in the employment report has hit all-time lows the last two months. Who has reported that? No one.
(Excerpt) Read more at businessinsider.com ...
Stimulus was really just the Democrat Reelection Act of 2009. There was nothing to stimulate the economy. It offered political paybacks and pork for the folks at home. It further increased the deficit by a trillion.
The cap/trade, health care, reverse of the Bush tax cuts next year, new regulations, bailouts, federal takeover of corporations, regulating pay, etc that is killing the economy. They are not close to slowing down, so these trends will continue.
business will do what it has to do to survive and eke out a profit. what business will not do in this oppressive tax and spend climate: expand and, therefore, hire beyond what is necessary. just reality.
It was a surprise that embarassed the Obama-lapdog media.
That same lapdog media has been cheering on Obama’s proposals and talking up “green shoots” and “the worst is over”.
Now they have egg on their face....again.
This is when they start to turn against Obama.....slowly, like Helen Thomas and Warren Buffett....then more forcefully as they actually get out among the masses and find there are no signs of prosperity anywhere.
There was no fundamental reason for stocks to rise as high as they did. The corporate profits were just not there. It may have been an over-correction to prices dropping too low in panic selling last year. It may also have been a suckers rally.
Just hope people don’t riot in the hot summer when tempers are short with no jobs no money it’s fuel for the fire Obama’s change sucks.
They get surprised at the most obvious outcomes.
It's a surprise only to people that genuinely believe that Obama knows what he's doing, and that his policies are good for the economy. People who know that (1) the policies already passed are disastrous and (2) the policies he'll continue to pass are disastrous, are not surprised. The economy will continue to chug along, with the occasional good news but often bad, until the poison really works itself into our system.
“It was a surprise that embarrassed the Obama-lapdog media.”
The Squawk Box crowd on CNBC looked shell-shocked, but still tried valiantly to spin this catastrophic report as “not so bad” because it showed a slowing of the jobless numbers compared to the 700,000 of last Dec.
However, that is because these numbers do not include the millions whose unemployment benefits have run out since the end of ‘08. The jobless rate is much higher than the 9.5% reported yesterday, and there are no “green shoots” in sight.
It’s a surprise only to people that genuinely believe that Obama knows what he’s doing, and that his policies are good for the economy
.
point, right to the point. Obama’s economic policies have exceeded everyone’s worse predictions fast, and now Obama is confident recovery is happening; who to believe??? Obama or everyone else???
Born again socialism?
I have to laugh at the way these people twist themselves like pretzels to put a positive spin on this, go back in time to when it was worse. Where do they go when we get a 700,000+ month - 1933?
A pertinent point from the article: For example, it would be normal for companies to begin to pay existing workers overtime before they hire additional workers because of the uncertainty related to the initial upturn in a production or service cycle. Spot on. I'm looking for a Depression and don't believe we'll see a bottom until overtime starts to go up.
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