Posted on 09/05/2009 4:15:00 PM PDT by WeatherGuy
The rate at which jobs were cut slowed in August, but the gap to be filled will be with us for a while. With 14.9 million people looking for jobs according to Moody's Economy.com, the unemployment rate won't hit 5% -- considered "normal" -- until 2014. To put this in perspective, we still have one presidential election and two mid-term contests between now and a full employment recovery.
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Sure it’s good news for 0. By 2014 more people will be dependent on governmint hand-outs.
Correct. And NY won’t be far behind Ca. This will not be pretty. In the 1930s people had a predisposition to take ownership of their situations whenever possible and thought assistance was shameful. Now we have created a culture of dependency.
Yes. The problem is that many of those jobs are gone until our standard of living contracts significantly. A business cannot manufacture $30 DVD players or $300 TVs in the US paying US wages,taxes,and meeting US regulations.
Does this mean we all starve to death until 2014?
Gosh I know. Obama is here to save the day. /sarc
I know and we have our very own death Messiah to thank.
“All of this was baked into the cake when the economy began to collapse on the back of deleveraging debt and the liquidity crisis. The players don’t really matter.”
You ever read Robert Prechter? He says pretty much the same thing.
If the dumb bastidges keep doing the kind of idiotic crap they are doing now the bottom will look like up fifty years from now. The link below will take you to our future national anthem.
http://www.youtube.com/watch?v=B8kRsoAZjpM
One can move to South America, Mexico or Canada. They also need English teachers in China.
Are you joshin’? They started touting the imaginary recovery when they did the fake report that showed the national unemployment level dropping a tenth of a point even as the total number of employed people took another big drop. If it went back to 8.5% they would be pouring champagne and raving about how Obama had restored prosperity to a nation that had been ruined by Republican madness presided over by George W. Bush. The fact that Obama said it would never go over 8% to begin with would not matter in the slightest.
WOW...great news! Only 5 more years until the green shoots start popping up. Thank you Oh Gracious One. /s
Sickening lies from this administration
What, is manufacturing coming back that year? Because if not, no dice.
Mexico - likely killed by drug lords and lack of health care
Canada - likely killed by health bureaucrats
Yes, our household will be in great shape by then. I wonder what all we can sell until we have an income again? *sigh*
All Bush’s fault (Just kidding.) Make Obama own unemployment and the deficit.
I remember democrat after democrat getting on Cavuto prior to stimulus passing claiming that Obama would take responsibility if the economy didnt improve. ‘Job’s saved’ my a..
How does one measure, “jobs saved?”
Have to disagree on that one. This election was very winnable for the Pubs. There was only one problem, and that was the candidate.
RE :”How does one measure, “jobs saved?”
....when unemployment is rising.
Or money saved by ‘free health care’, or increased revenues from tax cuts. Its called magic.
Please name one general election in which the economy began to tank and the incumbent president’s party retained the presidency. I’m not aware of one. I take to heat Carville’s maxim “it’s the economy, stupid”.
House prices had tanked. The stock market had just been crushed. Unprecedented nationalisations of private banks, insurance and corporations were taking place. The Treasury Secretary got on bended knew to beg for a trillion in stimulus to stem an all out financial collapse. About the best that can be said is that unemployment had not yet begun to soar, as it is a lagging indicator.
You can disagree all you want, but the economy dominated the election, as it always does. That is my point.
Please be aware that the nation is highly polarized, split right down party lines. About 40% of the voters would not vote Democrat if you held a gun to their heads. Another 40% would similarly rather drink Hemlock than vote Republican.
That leaves the middle 30% to decide national elections. These are the least informed, least involved, least principled, most wishy-washy voters. Not to say they are not moral or have their own personal convictions, but they are the ones who either hate both parties equally, or are apathetic, or are completely confused. Most of the nation votes with their wallets first - and that middle 30% most of all.
The election was not winnable in the least. There was no Republican candidate who was going to be able to ride Bush’s coat-tails to victory after that middle 30% perceived Bush as having wrecked the economy in the first place, just as they were deluded into thinking Bill Clinton was actually responsible for the great economy he lucked into having throughout his administration, on the back of what Reagan and later the House Republicans did.
This is not to say they Republicans had a good candidate. McLame is a solid Rino and that is why Democrats crossed over and voted for him in the early open primaries, and how we got stuck with him as he gained electoral votes and then later campaign funds. McLame was a disaster. With a good economy, I would be happy to blame him for the loss. In a bad economy, it just didn’t matter either way who the Republicans ran. Like I said, Reagan himself would not have won gain, the way he was able to win, ironically, because Carter oversaw a ruined economy with massive inflation and rapidly dwindling quality of life.
“It’s the economy, stupid.” Carville nailed it, the immoral soul-less weasil. But he did nail it. It’s the economy, stupid.
Obama will own it all by 2012 and he will be a one-term wonder. I said as much 6 months ago, and it will be because the economy is still bad. There will be no visible recovery before 2012, and his spending is just making things worse.
The media will run interference for him and scream that Bush so ruined the economy, nobody could fix it in 4 years. It won’t matter. Everybody will know people who are hurting and will want “change.” The Republicans will get another chance to screw things up. We’ll see... Now if the Republicans decrease spending, shrink government and reduce taxes, we will see jobs and they may get credit for a recovery. I’m not holding my breath on that one. After 8 years of Bush, I am convinced the Republicans are for big government until proven otherwise.
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