Posted on 06/04/2010 11:07:14 PM PDT by TigerLikesRooster
Reich: Crumbling Labor Market Pulling US Back Into Recession
Friday, 04 Jun 2010 04:10 PM
By: Frank McGuire
Economist Robert Reich said the United States is sliding into a double-dip recession because the labor market continues to deteriorate.
“The private sector added a measly 41,000 net new jobs in May. But at least 100,000 new jobs are needed every month just to keep up with population growth,” he wrote on his website.
The average length of unemployment continues to increase, rising to 34.4 weeks, up from 33 weeks in April.
/snip
“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),” he wrote.
“Oh, and, yes, all those Census workers (who will be out on their ears in a month or so).”
(Excerpt) Read more at moneynews.com ...
When did this midget get a clue. The sicophants are starting to eat their own.
It doesn’t take a Pint-Sized PhD to recognize that this country is being led down the path to ruin, and your liberalism, Dr. Reich, helped make it so. So get with BOZ and STOP IT!
Reich is a true loony-toony, but I like listening to him. He is a dye-in-the-wool democrat.
reich voted for obozo.
Maybe...just maybe...someday we’ll have a 21st century Congress that understands its priority to create and foster an environment where job creation and business growth is seen as an asset to the country...instead of a liability to the accumulation and aggregation of Federal Power.
Patient: But Dr. Reich, that medicine you gave me is making me worse.
Dr. Reich: Well, in that case you better double the dose.
Don't forget James Carvell's screaming tirade against Obama last week.
Corny but true: "Denial is not just a river in Africa."
Yep. It actually wouldn’t surprise me too much if the unwilling recipients of my pearls of financial wisdom were to break out in a chorus of “La, la, la, la ...” just to make sure no inkling of reality reached them.
I love that magazine. For years we have periodically purchased their anthologies - paperbacks plus CDs. They are quite a resource for good times and bad. You reminded me that it is time to catch up and buy the last 4 years worth. Thanks.
Thank you both very much for your comments and suggestions; I really appreciate them!
God bless!!
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