Gallup Economic Monthly: Job Creation Not Happening

gallup.com ^ | 9/2/09 | Dennis Jacobe

[Kartographer]

Gallup Daily economic data aggregated on a monthly basis show that job creation in August is just not taking place in the U.S. economy. While Gallup data for the month also show a slight moderation in job loss, this is not sufficient to take up the slack for a 35% decline in the rate of job creation compared to a year ago. And, while confidence in the future direction of the U.S. economy is at its highest level in 20 months, Gallup data also show a continued delinking of consumer spending -- which is down 33% from a year ago.

[Kartographer]

[Aria]

And, while confidence in the future direction of the U.S. economy is at its highest level in 20 months

Sounds like irrational exuberance.

[Jack Hammer]

“And, while confidence in the future direction of the U.S. economy is at its highest level in 20 months...”

Pure, unadulterated horse sh1t.

If that’s the case, why did the FDIC just raise the number of “problem banks” to something in excess of four hundred?

And why, pray tell, is the specific LIST of such banks a more closely guarded secret than the workings of the NSA?

Want some fun, and a challenge to your search capabilities? Try to find the exact List of Problem Banks created by the FDIC in its last quarterly report.

Go ahead. Try.

Confidence in the direction of the U.S economy my @ss.

[lmr]

People are halfway buying into the media spin.

I don’t know too much about ‘W’ or ‘U’ shaped recessions, but it does seem that even if we’ve hit bottom this one is going to be harder to dig out of than the last.

It certainly won’t be the same as it was in 2007 when the ‘good times’ were really rolling. We simply don’t have the credit to inflate that kind of bubble again.

There is much more debt to be defaulted on and many more banks that are yet to hit the skids.

I don’t have any predictions but gloom for much of the foreseeable future.

[Kartographer]

OBAMAVILLE

Gett’n a head fake,
watchin’ msn’s take;
All of their pundits oozing foul oil.
Clean’n my six gun on my front porch swing.
Felling my blood—
It’s beginnin’ to boil.

Wasted away again in Obamaville,
Searchin’ for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know it’s Obama’s fault.

There’s no rhyme or reason,
They are all commitin’ treason
With nothing to show but a brand new tax or two.
But they are real beauties,
Despotic duties,
how they got passed I haven’t a clue.

Wasted away again in Obamaville,
Searchin’ for a job so I can earn my salt.
Some people claim that it’s Bush we should blame,
Now I think,— hell with them it’s Obama’s fault.

I blew out my flip flop,
Stepped on a pop top;
Cut my heel, but I just cruise on back home.
Because no medical care will the doctors render
They say there’s little service I can tender
And there’s no need for me to hang on.

Wasted away again in Obamaville
Searchin’ for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know, it’s my own damn fault.
Yes, and some people claim that Bush is to blame,
And I know because of my vote it’s my own damn fault

[MaxMax]

Is starvation covered under the Obamacare make-it-up-as-we-go plan?

[Kartographer]

Stavation is just one of the plans cost cutting features.

[MaxMax]

That should create some very interesting shovel ready jobs.
I wonder when Obama will order the building of railroads in Alaska.

[blam]

bfl

[truthguy]

Did anyone really think this BS stimulus was going to work? Only a fool would believe it. Look it didn't work for Roosevelt back in the 1930's. Unemployment was just as high in 1940-1941 as it was in 1930. It was only WW2 that got us back to full employment. It's a myth that the New Deal but people back to work.

[kamikaze2000]

I have a gut feeling alot of smaller companies are just trying to hang on until Christmas...if things don’t pick up by then, I’m afraid it’s going to get brutal.

[kcvl]

You are correct. I don’t know anyone who is going to hire in this kind of climate especially small businesses.

No one knows what the future holds with Obama, et al, in charge. You need to be able to plan ahead but not now!

I think many people are hanging on to their money and purchasing only what they need instead of what they want. I would rather bury what we have in a tin can in the backyard than to turn it over to this crazy, arrogant, POS.

[backhoe]

( This is not directed at you, neighbor. )

Just how in the Hell is business supposed to "create" any jobs?

We have the most business-hostile, hostile to individual merit & success administration I have ever had the misery to witness.

Kommander ZerØ will spend 14 trillion or so dollars we don't have to pay back his camp followers, while hobbling businesses at every turn.

Just remember- the only money "the government" has, it gets this way:

[driftless2]

"stimulus"

The great percentage of the stimulus hasn't even been spent yet. It's not scheduled to be spent until next year. The stimulus from the Bush admin didn't do anything. So Obama can hardly claim whatever he did is doing anything but miring us in more of a financial mess. If the economy does revive, it will be in spite of whatever Obama does. I've never seen a more clueless president concering economic matters...or all matters.

[truthguy]

I agree 100%. But I'm not surprised that Obama is an economic ignoramus. I suspect you aren't surprised as well. There's nothing in his background that would suggest that he has any economic or real business experience. That should have been obvious. But as we both know he wasn't vetted and so many sheeple voted for him. What's worse is that because he has no direct experience in economics or business he's prone to listen to the crackpots that surround him. When you are economically illiterate you can easily be swayed to absolutely idiotic proposals. But I think you already know this. I just wanted to rant!

[nascarnation]

Job creation comes from small business.

Small business scans the horizon:

Min wage increase
Cap N Tax
Repeal Bush tax cuts
mandated Obamacare
opressive regulation from legions of czars

Small business runs scared

[driftless2]

"just wanted to rant"

I thoroughly understand. Ranting is my default position. Sometimes it's the only way to relieve the frustration of having radical leftists running the country. But I get the feeling my wife is thinking about cementing my mouth shut.

[andy58-in-nh]

If you want even more fun, try to find out what is the actual, current market value of Citigroup, Bank of America, Fannie Mae or Freddie Mac. (Hint: they are perhaps a wee bit below book value, but for some reason, no one on Wall Street is interested in finding out how much below).