New Jobless Claims Rise as Labor Woes Continue (Week before BHO started vacation)

Wall Street Journal ^ | 8/21/09 | Tom Barkley

[SoFloFreeper]

The number of U.S. workers filing new claims for jobless benefits climbed further last week, a reminder that labor-market conditions remain difficult. But in a gauge designed to predict the course of the economy, the index of leading indicators rose for the fourth consecutive month in July.

Initial claims for jobless benefits rose 15,000 to 576,000 last week...

[SoFloFreeper]

The week Obama started vacation, first time jobless claims were 570,000.

Remember every time THIS guy went on vacation? We got a reminder every day of how many, if any, JOBS were lost...while he golfed, or worked his ranch....

When this joker goes on vacation, the media merely reports his golf game and his movements around the millionaire's island he inhabits.

Bias? Big time.

[SoFloFreeper]

So it looks like first time jobless claims hit, what, about a MILLION while BO was on vacation? Maybe that number is wrong...can someone shine some light on that?

And how many of our soldiers died or were wounded while he strutted around Martha’s Vineyard? We’d hear about it while Bush was on vacation.

[Kartographer]

[laconic]

Job losses, what job losses? Newsweek, Ben Bernanke and the state-run media have all joyously told us the recession is like, so over and we’re in the midst of a remarkable recovery. If they said it, we have no choice but to believe it.

[Erik Latranyi]

How can you say the economy is stabilizing because the number of job losses is level at 500,000 per month? That’s like saying the Titanic is stabilizing because it is sinking at a constant 20 feet per minute!

[FastCoyote]

We’re unemployed but at least the leading indicators are positive.

[pallis]

The job market has been through its first wave of trouble. The next one will be arriving shortly. Obamanomics will give us unemployment numbers greater than those of the Great Depression. We have already reached the lows of the Carter years, and there isn’t a single person in Washington discussing measures that will turn industry around, or change the social lending policies that ruined our banking system. Our tyrants are in fantasy land, serving up the Koolaid.

[easttennesseejohn]

Well, let’s begin the playing of Happy Days Are Here Again. However, thereare some storm clouds. How, will non governmental, private sector employment increase with the increasing personal income tax rates and the cost increases(price inflation) caused by cap and tax? Where will the capital come from to create private sector jobs? As tax revenues decrease and deficits(which need borrowed funds to cover) increase,will the FED expand the money supply even more? What impact will that have on interest rates, inflation, and job creation? I don’t think it’ll be a positive one, since most private sector employment, 70% or more, is concentrated in the “small” business sectorand the factors I’ve mentioned, increased personal income tax rates; increasing costs to meet legislative mandates, the cost of money and the impact of inflation on return surely work against job creation in the private sector. The economic marxists that cuurently control economic policy couldn’t run a lemonade stand in the desert for a profit and “leading indicators” are going to counter microeconomic decisionmaking in the real world? I don’t think so.

[Fee]

Keep an eye out for the Xmas retail numbers this winter. If they tank, stores and manufacturers will lay more people off. Commercial real estate is also tanking, putting pressure on the banks who generally hold onto the mortgage notes. The beginning of 2010 will be more unemployment, more store and mall closings and more banks failing. Question is can the feds manage these failures without the financial system from collapsing???

[TSgt]

The job market has been through its first wave of trouble. The next one will be arriving shortly.

I have been saying this for a while now but let's take the emotion out of it and look at the facts: Businesses aren't hiring and in-fact will conduct layoffs as the summer season comes to a close. Christmas sales will be a blood bath as many families like mine choose to not exchange gifts. State and local tax revenues have fallen off a cliff however the stimulus was used to absorb the impact. This short term fix has long term dangers in that cuts that should have been made now were pushed off into next year. That means even bigger cuts next year including cherished social programs which will could lead to civil disruption. And the commercial real estate bubble or the possibility of a pandemic or terrorist attack, we just don't have the time to discuss that. America is looking down the barrel of the Second Great Depression and I defy anyone on this forum to tell me otherwise.

[norraad]

Yes, I only hope and pray most people will be able to handle it w/o flying off the handle.

I know many say drag out the pitchforks and guillotines, but this time the king is well ensconced.

[blam]

"How can you say the economy is stabilizing because the number of job losses is level at 500,000 per month? That’s like saying the Titanic is stabilizing because it is sinking at a constant 20 feet per minute!"

That's a racist comment and must be removed by the moderator.

Mark Lloyd will be by to see you shortly.

[TSgt]

Yes, I only hope and pray most people will be able to handle it w/o flying off the handle.

I hope I'm completely wrong but fear that some very challenging times lay ahead for our country. Modern Americans are not as resilient as those that lived during the last Great Depression and they will quickly panic at the loss of services that are not required to sustain life. Too many people are dependent on the government. Imagine: EPIC KATRINA

[norraad]

It will be Katrina on steroids on stilts!

Dangerous for even those of us who are prepared because it will be darn near impossible to avoid the overwhelming influence of lunatic lemmings.

[Trailerpark Badass]

Just think when those poor suckers who got “tax relief” this year, along with their cash for clunkers windfall, have to cough up a couple hundred/thousand for income taxes next year.

[RipSawyer]

“America is looking down the barrel of the Second Great Depression and I defy anyone on this forum to tell me otherwise.”
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

I accept your challenge. We are NOT looking down the barrel of the second great depression beause;

1. The depression of the thirties was not the first great depression in this country.

2. This is NOT a depression...it is a monumental CRASH that will wind up making a great depression look like a day at the beach. Modern Americans have only a tiny fraction of the ability that most people had in the thirties to adapt to hard times. Once the government programs run out (as they must) people will be far more helpless than their grandparents or great grandparents were.

3. The only way to prevent what I just described is for the whole nation to return to sanity, sober up, get off drugs, chase the illegals out, send the muzzies back to wherever they came from and send citizens who convert to Islam with them, return the government to its rightful functions which would mean millions more unemployed and return to glorifying real American heroes rather than worshipping empty suit politicians and brain dead celebrities. If any or all of this happens it will be only AFTER the desolation of this country, there is no way it will happen in time to prevent it.

Now tell me I am wrong! I would surely love to be wrong.

[Jo Nuvark]

RANDOM THOUGHT...

It occured to me the reason so many are able to
attend Townhalls and Tea Parties is because
conservative working people (victims of Obummer’s
economy) are out of work.

Obummer’s plan to kneecap industry, may have bit
him in the butt.

[Jo Nuvark]

[... The only way to prevent what I just described
is for the whole nation to return to sanity, sober up,
GET OFF DRUGS, chase the illegals out, send
the muzzies back...] (Rip Sawyer)

You are correct, sir.

I hope you include anti-depressants (prescription
anesthesia). We are a nation who not only could not
cope with a disaster (read New Orleans / Katrina).

We have blocked valuable pain warnings.

We have dumbed down fear and urgency.

... I’m just sayin’...

[dearolddad]

We’re unemployed but at least the leading indicators are positive.

I tried paying my mortgage with a fist full of leading indicators, the bank said they would rather have money.

[TSgt]

I stand corrected. ;)