Jobless Rate Rises to 9.8 Percent, Highest Since April

[Soul Crusher]

Prices would rise but so would wages, our trade deficit would also shrink and our GDP would grow. Inflation would occur but the Fed could do something positive for the nation for once in its existence and raise interest rates so people/business would be able to save and be rewarded for it, thus rebuilding a capital base.

Just a thought. I know it isn't that simple (maybe it is) but it would take work and our govt. to not let large corporations write laws and tax policy for them.

Right now - its ponzinomics

[Soul Crusher]

Economic picture looking bleaker than ever
Yahoo News ^ | Dec 3, 2010 | By Zachary Roth





In recent months, signs like rising retail sales had suggested that the economy might slowly be coming to life, and that a recovery, including a rise in the jobless rate, might not be too far around the corner.

But Friday's news that the unemployment rate nudged up yet again in November has put a serious dent in those hopes. The economy added just 39,000 jobs last month, according to the latest government numbers, and analysts say the latest bout of bad news on the jobs front is extremely discouraging. What's more, there has been a less-noticed downturn in home values, suggesting that the sector that played a key role in plunging the economy into the doldrums still hasn't recovered, despite billions in government help. Combined with the deadlock in Congress over maintaining an extension jobless benefits, the news is starkly gloomy for the millions of Americans who remain out of work.

The jobless numbers are perhaps the most disappointing. Unemployment rose last month to a seven-month high of 9.8 percent, according to Labor Department numbers. Nonfarm payrolls rose by only 39,000, far short of the expected 140,000, which would have kept the jobless figure steady at 9.6 percent. One cause of the bleak picture was the contraction of government payrolls, as local authorities cut jobs in response to budget problems.

Meanwhile, two leading price indicators showed declines in housing prices during the third quarter of 2010 -- a development that analysts attribute in part to the end of the federal home-buying tax credit that had been in place until June. Prices dropped in 18 of the 20 cities tracked by the Case-Shiller index.


(Excerpt) Read more at news.yahoo.com ...

[dario73]

Sear this fact into your minds. 8% UE was to be the result of the Stim bill. As of 12/4/10 it is at 9.8 percent.

Again:  Obama + Dems = Failure

[Straw Man]

come on guys

there's nothing to worry about

Repubs are taking over next year

they'll fix it

[Soul Crusher]

come on guys

there's nothing to worry about

Repubs are taking over next year

they'll fix it

No - they are taking over one house of congress and have Obama's Veto Pen to deal with. 

Obama and the Dems have done incalculable damage to the economy over the past two years. 

[Straw Man]

No - they are taking over one house of congress and have Obama's Veto Pen to deal with. 

Obama and the Dems have done incalculable damage to the economy over the past two years. 

and the Repubs did 10x worse during the prior 8 years

[Soul Crusher]

and the Repubs did 10x worse during the prior 8 years

Two wrongs don't make a right and obama and the dems were elcted based on promises to fix things - not double down on insanity. 

[Straw Man]

Two wrongs don't make a right and obama and the dems were elcted based on promises to fix things - not double down on insanity.

what was your "solution" to the finanial meltdown

I believe it was to do nothing

and you even admitted your "do nothing" solution would have made unemployment and the economy even worse

I'm open to hearing any Republican, Liibertarian or Independent solutions to our sitaution

Let's hear it

[Soul Crusher]

what was your "solution" to the finanial meltdown

I believe it was to do nothing

and you even admitted your "do nothing" solution would have made unemployment and the economy even worse

I'm open to hearing any Republican, Liibertarian or Independent solutions to our sitaution

Let's hear it

Worse in the short term, far better in the long term. 

[Straw Man]

Worse in the short term, far better in the long term. 

tell me how you would sell "worse in the short term" to the US voter

Can you recall any time in our history when one administration had to take over at a point as bad as Obama got and your "solution" would be to do nothing and let things get worse

[Soul Crusher]

tell me how you would sell "worse in the short term" to the US voter

Can you recall any time in our history when one administration had to take over at a point as bad as Obama got and your "solution" would be to do nothing and let things get worse

Reagan. 

[Straw Man]

Reagan.  

great point

it's interesting that the debt started to BALLOON during Reagan Admin and coincidentally thats when the gap between the rich and the middle class also started to EXPLODE

I wonder if there is some correlation

[MM2K]

great point

it's interesting that the debt started to BALLOON during Reagan Admin and coincidentally thats when the gap between the rich and the middle class also started to EXPLODE

I wonder if there is some correlation

THere is no correlation. The debt rose because of massive and necessary increases in military spending. When Reagan left the deficit was back down to acceptable levels. Who cares if the gap between the rich and the middle class exploded. EVERYONE stared doing better. It just that the rich did a whole lot better. But that is what you are going to get in a complex dynamic economy. That is the way the world works. You can choose between everyone doing badly but not as much inequality in incomes, or you can have everyone doing better but the rich doing MUCH better. It is one or the other.