Employment Disaster

The Daily Reckoning ^ | September 24, 2003 | Kurt Richebächer

[ninenot]

Well they certainly were not pro-Clinton! I got those letters then, and they made a laughingstock of the jackass.

[ninenot]

If you're trying to say that the ChiComs and their allies have been fighting and winning WWIII since about 1990, you are correct. Bush One began the push for American industry to plant itself in China.

Clinton, bought and paid for by the ChiComs, simply kicked the ball harder, with assistance from the educated idiot, Gingrich.

[ninenot]

Regrettably, your analysis is incorrect. The numbers are twisted. The City of Milwaukee's actual unemployment rate is now hovering around 14%--yes, fourteen percent.

That's not exactly what I would call a 'shallow' recession.

[ninenot]

Frankly, what Republican cares about NY, MA, DC, and Californicator?

The facile answer is "Any Republican with a conscience."

But Bushie has more to worry about: Wisconsin, Illinois, Michigan, Pennsylvania, and Ohio.

He MAY get the South and the West, excepting the LeftCoast. But he may NOT get the Upper Midwest--and that's the end of the presidency for him.

[m18436572]

bfl

[Starwind]

recession in the manufacturing economy has NOT stopped. It started in late '99/early '00 and has been going full tilt ever since, with a few exceptions.

Yep...more like a depression in mfg.

[Tokhtamish]

Free market fundamentalists forget that we do not live in XIXc when millions of people could return to the farms or fall back on subsistance economy. Today majority lives in the cities and bills do not stop coming. When masses of people drop out of job market they have no place to go anymore.

And they also pretend that we used to be this society of rugged individualist John Galts and Hank Reardens. Bull. The Victorian economy was tempered by the welfare agencies of the Victorian family, Victorian churches, and the kind of village-like working class neighborhood that doesn't exist anymore. The Victorian family no longer exists and few people know their neighbors. Civil society cannot cushion economic shocks the way it could in Victorian times. So people, when presented with Victorian economic shocks, will demand European levels of cushioning.

[WRhine]

But Bushie has more to worry about: Wisconsin, Illinois, Michigan, Pennsylvania, and Ohio.

You bet, especially Ohio and I'd add NC to that list given their staggering job losses in manufacturing over the last 2 years.

BTW, I'm not surprised that the unemployment rate in Milwaukee is 14%. I know a lot of folks from that Great City and they have been hurting since the late-80s. Our Government’s One-Way jobs exporting trade polices have hit Milwaukee particularly hard for many years, along with areas in Chicago, Rockford, Beloit and a number of other industrial cites in the central Midwest area.

For the life of me, I just can't figure out where Bush and the RNC are coming from when they push for more of the same trade polices that are destroying the industrial muscle that made America great while enriching communist countries like Red China. Countries that share none of our Western values but will most definitely pose a threat to us economically and militarily in years to come. It boggles the mind.

The ever-growing numbers that end up on the unemployment line are the very voters that Bush needs to get reelected. Obviously Government Workers (if you can call them that) are not Bush’s natural constituency (or are they?). Bush is blowing it Big Time. .

[ARCADIA]

Also keep in mind that the unemployment rate is based on the economic activity over the last 12 months. If you have been out of the workforce for more then 12 months you are NOT counted as unemployed. After 38 steady months of job loss we are probably at an 18-20% unemployment rate. Much of this is two income families that have suddenly become single income; they are probably barrowing and tighthening their belts to stay afloat. But, I have already written off Bush in 2004. That election will be won by whomever accepts the challenge to:
(1) end our participation in global free trade (2) seal our borders
(3) focus on whatever is needed to get the economy going again
(4) Develop s a startegy to win and recover our monetary, human, and political investment in Iraq.
Just because none of the nine (now 10) Democratic political midgets have taken the stance, or Bush seems oblivious to it, does not mean that the issue is not going to become central to the election process in the months to come.

[RinaseaofDs]

Or, put another way

37 straight months of declines in manufacturing sector jobs.

It hasn't happened since the depression.

A lot of lipstick is being applied to the pig at this point.

[ctonious]

Once upon a time there was a country with such phenomenal technology that it invented machines that built anything and handled everything. Businesses bought these machines,one called India and another called China. These machines did everything better and cheaper than pesky ol' American humans - and the businesses made fabulous profits, the DOW soared - and the GDP hit 50% growth that year. And the people did not need to work anymore, and thus did not need to get a paycheck anymore - and they all celebrated this great new state of affairs by keeling over and starving to death - the ungrateful bastards.

[jammer]

Great analyses. I have said for over a year that we can get the butter and grape jelly--Bush is toast.

[jammer]

That would be hilarious, if it weren't so sadly true.

[lewislynn]

I'm guessing that a disproportionate number of the losses are in Cal., Or., and Washington, three states where the liberals have had their way,

-------

Fortunately, Bush Country is not in a recession.

More Texans behind on their mortgages State's delinquency rate No. 3 in nation

[staytrue]

A recovery doesn't matter if millions of jobs are exported to China, Mexico, and the rest of the third world.

FYI, Last month's trade deficit with the EU was about the same as with China. Also last month's trade deficit with japan exceeded the trade deficit with mexico, ditto for canada. The EU, Canada and japan are not third world.

[staytrue]

But Bushie has more to worry about: Wisconsin, Illinois, Michigan, Pennsylvania, and Ohio.

I believe that in 2000, bush was elected by losing WI,IL,MI and PA. Being an Ohio native, I can assure you Bush will carry OH in 04 just like in 00.

[teldon30]

When you figure it out...let me know...i'm wondering myself....

[staytrue]

Ohio is a republican state and will go for bush. Ohio has a republican governor, both US senators, and both state legilative bodies. The democrats are a broken party in Ohio.

[Cronos]

Good point, we're losing cash to everyone, and the biggies are China,the EU, Japan and Canada.

[George W. Bush]

The fake recovery and the real picture on job loss. The article exposes some of the methods used to manipulate job statistics.