IT'S OFFICIAL: We're Falling Into A Double-Dip Recession

The Business Insider ^ | 6-4-2010 | Robert Reich

[blam]

IT'S OFFICIAL: We're Falling Into A Double-Dip Recession

Robert Reich
Jun. 4, 2010, 10:52 AM

We’re falling into a double-dip recession.

The Labor Department reports this morning that the private sector added a measly 41,000 net new jobs in May. (The vast bulk of new jobs in May were temporary government Census workers.) But at least 100,000 new jobs are needed every month just to keep up with population growth.

In other words, the labor market continues to deteriorate.

The average length of unemployment continues to rise – now up to 34.4 weeks (up from 33 weeks in April). That’s another record.

More Americans are too discouraged to look for a job than last year at this time (1.1 million in May, an increase of 291,000 from a year earlier.)

Of the small number of jobs created by the private sector in May, many came from temporary help services.

Which is one reason why the median wage continues to drop.

Why are we having such a hard time getting free of the Great Recession? Because consumers, who constitute 70 percent of the economy, don’t have the dough. They can’t any longer treat their homes as ATMs, as they did before the Great Recession.

Businesses won’t rehire if there’s not enough demand for their goods and services.

The only reason the economy isn’t in a double-dip recession already is because of three temporary boosts: the federal stimulus (of which 75 percent has been spent), near-zero interest rates (which can’t continue much longer without igniting speculative bubbles), and replacements (consumers have had to replace worn-out cars and appliances, and businesses had to replace worn-down inventories). Oh, and, yes, all those Census workers (who will be out on their ears in a month or so).

[snip]

[cynwoody]

A “J” in Windings font is a smiley face. WINGDINGS. Maybe you don’t SEE the smiley face!

To make a smiley, try ☺. The smiley is actually a Unicode character. You don't need a special font.

☺

[devolve]

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Yes -

Sunny

FR seems to be connecting mucho slowly thees nacho

[Oceander]

And now it's also official: Obama - we told you so!

[potlatch]

LOL, thanks, I have that code too but it was always such a tiny face and I didn’t always feel like using <font size= and color=.

I see you used <BIG six times and that worked. Neat and I’ll remember it.

[potlatch]

I thought the slowness was my computer.
They had some down time last evening, read about it later at night.

[devolve]

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Something about posting last night
Right now - when I click on your pings

It is slow does not go to your post - I have to force it to go to thread heading - then scroll down to your post

Something weird going on

[editor-surveyor]

“My opinion, gold is probably not overpriced.”

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Gold is never overpriced. - Gold has always been comparatively slow to move, and is a snapshot of the times, regardless of what it may be doing.
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[potlatch]

If it is giving you too much trouble then just give it up for the night. Lol, the smiley face isn’t an important topic to have to struggle through.

[devolve]

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I have a trick to speed to a post if FR is doing that

Punch another key - hit speed scroll keys

Coffee -

[potlatch]

Ah, well then you can probably get around faster than me!
Enjoy your coffee.
I’m going to leave soon now.

[devolve]

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You are connecting and navigating slowly too tonight?

I was able to get to this ping fast - no problemos this time

[potlatch]

It’s ok now, but it comes and goes. As I said, they had some trouble last night.

[devolve]

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Good

I would not be surprised if “The Won” has his Brennan & Emanuel thugs doing set-time connections to Free Republic to mess with minds and servers

They are much more vunerable than FR is

Perhaps I should scout around in the “Organizing For America” and “DNC” websites

[potlatch]

I don’t doubt what they can do. No question they watch our site, but there are hundreds of really intense sites they would watch more.

Many you can’t even view unless you sign up.
I have sixty some ‘choice sites’ in my Favorites links.

[devolve]

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I meant FR and FNC would be places they want to disrupt and confuse - If they cannot shut them down or regulate them

I think it is funny that Obama cannot get through a week or speech without mentioning FNC, Rush, Hannity, Saral Palin, Tea Party members

Obama is very insecure and afraid

60 “choice sites”!!!!!

[GlockThe Vote]

Its because he has gotten threw life so far w no criticism or challenges on his marxist views. He has no idea what to do.

[potlatch]

[60 “choice sites”!!!!!]

Yes, sites that I often browse - when I’m bored.

[devolve]

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You sure are getting a lot of information!

[Texas Songwriter]

I think the over-the-counter derivitive aggregate has put us into a depression which will be as deleterious as the ‘30’s. The unbrideled spending of this administration has made this a certaininty,....and it seems to have been done with great deleberation and planning. It seems to be moving us towards a one world economy. AS the euro declines, and some have said it will reach par with the dollar, we have essentially reached a singular currency. We have crossed the Rubricon,...there is no turning back,...and it is not for the betterment of anyone.

[potlatch]

[You sure are getting a lot of information!]

Yeah, and one site leads to another, and another...