When Political Spin and Economic Realities Collide

Pajamas Media ^ | July 9 | Jennifer Rubin

[AJKauf]

The economic picture has overtaken, and finally begun to drown out, the political spin and hype generated by the White House and fanned by the cheerleaders in the mainstream media. Not even the New York Times can ignore the economic reality and its impact on the public’s assessment of the president’s performance. It has gotten so bad that even Jon Stewart is hollering at the president to just fix the economy...

[norwaypinesavage]

It’s the economy, STUPID!

[blam]

Economic Gloom Hits Energy, Drags FTSE To 10-Week Low

Fri Jul 10, 2009 6:57am EDT
By Simon Falush

LONDON, July 10 (Reuters) - More gloom on prospects for the global economy sparked by weak U.S. corporate results depressed commodity prices, knocking energy stocks and dragging Britain's top share index to a 10-week low by midday on Friday.

By 1028 GMT the FTSE 100 .FTSE was down 24.00 points at 4,134.66 after it closed 18.43 points higher on Thursday at 4,158.66. The index is on track for its lowest close since late April, down 2.4 percent this week, set for its fourth consecutive week in negative territory.

Energy stocks took the most points off the index as oil prices slid below $60 per barrel, on track for its largest weekly fall since January CLc1 as the demand outlook soured and on fears of new rules to curb futures speculation.

[snip]

[FromLori]

They are masters at spin and deception take the real unemployment rate for example. They doctor and change the way they report it.

http://blogs.moneycentral.msn.com/topstocks/archive/2009/07/06/true-unemployment-rate-already-at-20.aspx

[expat_panama]

"...the real unemployment rate..."

Right; but everyone's got a 'real' one that's better than everyone else's.  How about we just say that anyone without a job is unemployed --that way we can have 40% unemployment and leave it at that.

[driftless2]

Of course Obama could stop the economic slide within months by instituting a series of tax cuts and incentives for business. But that would be the sane thing to do. We can be rest assured, even with their power at stake, the Dems won’t do that. Because they know that would be the final betrayal to their nutty base which views business and capitalism as evil. Obama is riding the tiger, and he dare not dismount.

[italianquaker]

A recession is when your friend loses his job, a depression is when you lose yours.Alot of people are thinking the worse and odumbos incompetence is just making them mad

[Toddsterpatriot]

Data extracted on: July 10, 2009 (10:56:07 AM)

Employment, Hours, and Earnings from the Current Employment Statistics survey (National)

Series Id:     CES0500000001 Seasonally Adjusted Super Sector:  Total private Industry:      Total private NAICS Code:    N/A Data Type:     ALL EMPLOYEES, THOUSANDS
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual
1999	107396	107746	107828	108135	108356	108579	108803	108959	109132	109487	109742	109992
2000	110210	110303	110641	110858	110738	110952	111135	111168	111392	111373	111587	111681
2001	111634	111624	111555	111227	111146	110910	110737	110544	110276	109918	109575	109368
2002	109214	109054	108989	108892	108814	108824	108732	108671	108659	108772	108758	108595
2003	108640	108484	108286	108252	108274	108233	108231	108266	108421	108570	108611	108724
2004	108882	108913	109213	109437	109747	109841	109883	109984	110135	110465	110493	110624
2005	110741	110968	111096	111388	111576	111824	112087	112281	112379	112504	112842	112989
2006	113293	113556	113805	113940	113958	114007	114157	114292	114384	114461	114707	114919
2007	115068	115091	115250	115260	115388	115400	115415	115339	115389	115521	115707	115783
2008	115689	115515	115373	115203	115029	114834	114691	114497	114197	113813	113212	112542
2009	111793	111105	110457	109865	109553(P)	109138(P)
P : preliminary

---

Series Id:     CES9000000001 Seasonally Adjusted Super Sector:  Government Industry:      Government NAICS Code:    N/A Data Type:     ALL EMPLOYEES, THOUSANDS
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual
1999	20084	20144	20168	20237	20229	20272	20339	20375	20404	20457	20496	20540
2000	20571	20599	20733	20802	21147	20887	20867	20837	20735	20743	20760	20804
2001	20835	20906	20945	20992	21029	21137	21185	21218	21242	21275	21326	21355
2002	21377	21390	21431	21443	21514	21549	21544	21589	21546	21559	21581	21588
2003	21626	21624	21610	21595	21567	21606	21633	21556	21504	21558	21535	21546
2004	21538	21550	21588	21614	21614	21601	21606	21626	21635	21656	21692	21693
2005	21758	21752	21745	21765	21789	21800	21859	21855	21844	21817	21859	21872
2006	21862	21873	21906	21922	21928	21949	21985	21999	22054	22059	22074	22081
2007	22112	22125	22150	22175	22203	22245	22165	22213	22263	22296	22325	22369
2008	22391	22421	22441	22451	22488	22522	22537	22556	22535	22539	22543	22532
2009	22540	22547	22543	22616	22606(P)	22554(P)
P : preliminary

 

 

 

Come on expat, you know our population is over 300 million. Fewer than 132 million jobs. Our real unemployment rate is over 56%.

[expat_panama]

"...real unemployment rate is over 56%."

LOL, you got me Todd.   I keep forgetting that the BLS's stats are actually "population over age 16"

[expat_panama]

"A recession is when your friend loses his job, a depression is when you lose yours..."

--and a recovery is when a government worker looses his job.

--Ronald Reagan