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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Fury on June 01, 2011, 04:03:54 PM
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Private employers added a meager 38,000 jobs in May
Downbeat ADP data seen as bellwether for government’s monthly jobs report
NEW YORK — Private-sector payroll growth slowed sharply in May, coming in far below expectations and falling to the lowest level in eight months, a report by a payrolls processor showed on Wednesday.
The ADP Employer Services report showed private employers added a scant 38,000 jobs last month, while April private payrolls were revised down to an increase of 177,000 from the previously reported 179,000.
Economists surveyed by Reuters had forecast a gain of 175,000 jobs for May.
Wednesday’s ADP report “suggests that employment growth slowed sharply in May,” said Joel Prakken, Chairman of Macroeconomic Advisers LLC, which jointly developed the report, adding that Friday's U.S. jobs report for May could disappoint on the heels of the ADP data.
"I'm really expecting Friday's number to disappoint to the downside," Prakken said on a conference call with journalists, referring to the U.S. Labor Department's monthly non-farm payrolls report due out Friday morning.
The ADP figures come ahead of the government's much more comprehensive labor market report on Friday, which includes both public and private sector employment. Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.
Another report issued Wednesday showed the number of planned layoffs at U.S. firms rose modestly in May with the government and non-profit sectors making up a large portion of the cuts.
Employers announced 37,135 planned job cuts last month, up 1.8 percent from 36,490 in April, according to a report from consultants Challenger, Gray & Christmas, Inc.
May's job cuts were down from the same time a year ago, falling 4.3 percent from the 38,810 job cuts announced in May 2010. For 2011 so far, employers have announced 204,374 cuts, down 20.9 percent from the
first five months of 2010.
"Despite several signs of weakness in the recovery, the continued slow pace of downsizing outside of the government sector suggests that employers do not see these as long-term problems," John Challenger, chief executive officer of Challenger, Gray & Christmas, said in a statement.
"It is unlikely that we will see a sudden resurgence in corporate downsizing in the months ahead unless there is a major shock to the economy," he added.
Cuts in the government and non-profit areas totaled 14,755 and accounted for nearly 40 percent of May's announced layoffs. Even so, the number of cuts was down 11.6 percent from last May.
Hiring plans fell to 10,248 from 59,648 in April, which had been boosted by McDonald's bid to hire 50,000 workers in one day.
http://www.msnbc.msn.com/id/43234997/ns/business-stocks_and_economy/
38,000 when they expected 190k+. Hello, depression.
Anyone stupid enough to take a shot at defending this? :D :D :D :D
Obama = FAILURE.
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Friday's number should be a really doozy for sure.
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Anyone stupid enough to take a shot at defending this? :D :D :D :D
I believe the standard claim these days is that it would have been much much worse without the Messiah at the helm.
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Obama 2012 - it could have been worse.
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Personally I think the Republicans are making a mistake to focus so much on medicare right now, but given these numbers, it doesnt look like it will really matter come 2012. Obama will be going into the next election with an unemployment rate that no president has won re-election with. THe highest unemployement rate that a president has been re-elected with was I think 7.3% when Reagan was re-elected in 1984. And the reason he was re-elected in spite of that was because prices were noticably lower, and the unemployment rate had been trending heavily down for the past two years with something like 8% growth in some quarters. No way Obama wins re-election with this. No way, no how.
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Its intentional. The sooner everyone realizes it the better.
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Obama 2012 - it could have been worse.
LOL. Good campaign motto.
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I believe the standard claim these days is that it would have been much much worse without the Messiah at the helm.
you said it..I didn't
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you said it..I didn't
Remember that thread you made directed at 333? How's that working out for you now?
Great Depression status fast approaching! All hands on deck!
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you said it..I didn't
Yeah you said in one thread you were in near tears at how laudatory it was towards the messiah.
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Private employers added a meager 38,000 jobs in May
Downbeat ADP data seen as bellwether for government’s monthly jobs report
NEW YORK — Private-sector payroll growth slowed sharply in May, coming in far below expectations and falling to the lowest level in eight months, a report by a payrolls processor showed on Wednesday.
The ADP Employer Services report showed private employers added a scant 38,000 jobs last month, while April private payrolls were revised down to an increase of 177,000 from the previously reported 179,000.
Economists surveyed by Reuters had forecast a gain of 175,000 jobs for May.
Wednesday’s ADP report “suggests that employment growth slowed sharply in May,” said Joel Prakken, Chairman of Macroeconomic Advisers LLC, which jointly developed the report, adding that Friday's U.S. jobs report for May could disappoint on the heels of the ADP data.
"I'm really expecting Friday's number to disappoint to the downside," Prakken said on a conference call with journalists, referring to the U.S. Labor Department's monthly non-farm payrolls report due out Friday morning.
The ADP figures come ahead of the government's much more comprehensive labor market report on Friday, which includes both public and private sector employment. Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.
Another report issued Wednesday showed the number of planned layoffs at U.S. firms rose modestly in May with the government and non-profit sectors making up a large portion of the cuts.
Employers announced 37,135 planned job cuts last month, up 1.8 percent from 36,490 in April, according to a report from consultants Challenger, Gray & Christmas, Inc.
May's job cuts were down from the same time a year ago, falling 4.3 percent from the 38,810 job cuts announced in May 2010. For 2011 so far, employers have announced 204,374 cuts, down 20.9 percent from the
first five months of 2010.
"Despite several signs of weakness in the recovery, the continued slow pace of downsizing outside of the government sector suggests that employers do not see these as long-term problems," John Challenger, chief executive officer of Challenger, Gray & Christmas, said in a statement.
"It is unlikely that we will see a sudden resurgence in corporate downsizing in the months ahead unless there is a major shock to the economy," he added.
Cuts in the government and non-profit areas totaled 14,755 and accounted for nearly 40 percent of May's announced layoffs. Even so, the number of cuts was down 11.6 percent from last May.
Hiring plans fell to 10,248 from 59,648 in April, which had been boosted by McDonald's bid to hire 50,000 workers in one day.
http://www.msnbc.msn.com/id/43234997/ns/business-stocks_and_economy/
38,000 when they expected 190k+. Hello, depression.
Anyone stupid enough to take a shot at defending this? :D :D :D :D
Obama = FAILURE.
This is actually a good post..very informative....certainly not good news.....I can't defend the numbers.....what I will say however is that when I use the same numbers from the same institution, I hope it won't be met with "oh they are just skewing the numbers on purpose to make Obama look good".
I still don't see how all of the above can be tied to Obama but I have to admit he has to begin taking responsibility for it...can't keep blaming bush forever
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(http://1.bp.blogspot.com/_8cARQTlQn-M/TF-_iovF19I/AAAAAAAAAFw/pTbEw56bLrc/s1600/sinking_ship.jpg)
The USS Economy, captained by the God-King, Piglosi and Reid.
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Remember that thread you made directed at 333? How's that working out for you now?
Great Depression status fast approaching! All hands on deck!
Hey it was based on what was going on at the time.....I really thought that was the start of good news for the economy...I guess I was ahead of myself.....I still think things will get better
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(http://1.bp.blogspot.com/_8cARQTlQn-M/TF-_iovF19I/AAAAAAAAAFw/pTbEw56bLrc/s1600/sinking_ship.jpg)
The USS Economy, captained by the God-King, Piglosi and Reid.
and what would the repubs do differently????
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Hey it was based on what was going on at the time.....I really thought that was the start of good news for the economy...I guess I was ahead of myself.....I still think things will get better
It will once the messiah is gone.
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and what would the repubs do differently????
No obamacare, no NLRB madness, no EPA madness, no tax insanity, etc etc.
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It will once the messiah is gone.
ha...whose gonna make it better??>..Palin???...not running...Trump???..not running..all scared
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ha...whose gonna make it better??>..Palin???...not running...Trump???..not running..all scared
Mad doff vandersloot would be ok by me.
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Mad doff vandersloot would be ok by me.
you don't like Jews..remember???
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Mad doff vandersloot would be ok by me.
;D
Let's be completely honest. Could they really do any worse?
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you don't like Jews..remember???
My gf is Jewish.
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My gf is Jewish.
does she see what you post about her people????
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does she see what you post about her people????
I tell her to her face that liberal Jews are a disgrace. She and her family are right wingers and hate Obama. She has 5 guns herself, shoots, works, and can't stand the parasites.
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ha...whose gonna make it better??>..Palin???...not running...Trump???..not running..all scared
I think it is safe to say that either Romney or Pawlenty would do a far better job.
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I think it is safe to say that either Romney or Pawlenty would do a far better job.
its safe to say they will lose as well
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its safe to say they will lose as well
I would love to see that happen. With Romney's resume and credentials, it would be like picking Barabas over Jesus. Yeah, after being taken to 10% unemployment from 7%, and then staying there for 3.5 years, and then having our gas prices doubled and our food prices vastly increased, lets pick the man who did it to us who has no managerial experience whatsoever. Lets pick him over someone who has actually made a career out of solving problems and who has vast experience in running institutions.
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Four more years of obama means four more years of depression, joblesslesness, inflation, wtf agenda, mid east chaos, etc
Unless you are a minority voting for obama for racial allegiances, govt worker, lgbt, enviro freak, or some other fringe bloc of voters, there is no reason whatsoever to vote for obama.
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This is what happens when you elect a community organizer with Chicago thug politician roots and zero actual experience as POTUS.
"Present".
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Its not even experience so much as his wtf crazy agenda and whacked out policies.
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This is what happens when you elect a community organizer with Chicago thug politician roots and zero actual experience as POTUS.
"Present".
what I would like to know is why do you have your mother in your avatar??
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I think it is safe to say that either Romney or Pawlenty would do a far better job.
Guy I listen to up here and really like is totally against Romney:
It’s official: the Republican who gave Massachusetts RomneyCare wants to be the nominee and run against the Democrat who gave us ObamaCare. If Mitt Romney has his way, the American people are going to be offered the “choice” of a big-government, mandate-loving Republican vs. a big-government, mandate-loving Democrat.
It’s our job to make sure that doesn’t happen. Those of us here in Massachusetts living with the fiasco that is RomneyCare have a duty to warn the rest of the country.
That’s why I started www.anyonebutMitt.com It’s the reason I set up the ABM Treaty petition you can sign online. If the GOP establishment has it’s way, they’ll stick us with Romney because it’s “his turn,” because he has money, because of the hair, whatever.
We need a candidate who can beat President Obama, and the guy who’s argument is “Obama’s mandates are bad, but mine are good” is not that guy.
Mitt Romney is the Bob Dole of 2012. Please help me stop our party from making that mistake again.
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Bump for andre.
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9.1 percent ue, trillions in added debt, for what?
How's that hope and change working out suckers?
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9.1 percent ue, trillions in added debt, for what?
How's that hope and change working out suckers?
And, keep in mind, even the Obama-slurping AP has admitted that the "official" 9.1% unemployment is because they don't count people who've stopped looking for work or who've been unemployed a year or longer.
Factor in those folks and unemployment is over 11 percent.
And that doesn't even count the "underemployed" (i.e. college grads who are flipping burgers, many of whom have to move back home with their parents, because the jobs aren't there, despite all the "hope and change" for which they foolishly voted).
Are Obama and Biden going to put their feet in their mouths and promise another "Recovery Summer" as they did last year?
By the government's definition, if you quit looking, you're no longer counted as unemployed. And you're no longer part of the labor force.
Since November, the number of Americans counted as employed has grown by 765,000, to just shy of 139 million. The nation has been creating jobs every month as the economy recovers. The economy added 244,000 jobs in April.
But the number of Americans counted as unemployed has shrunk by much more — almost 1.3 million — during this time. That means the labor force has dropped by 529,000 workers.
The percentage of adults in the labor force is a figure that economists call the participation rate. It is 64.2 percent, the smallest since 1984. And that's become a mystery to economists. Normally after a recession, an improving economy lures job seekers back into the labor market. This time, many are staying on the sidelines.
Their decision not to seek work means the drop in unemployment from 9.8 percent in November to 9 percent in April isn't as good as it looks.
If the 529,000 missing workers had been out scavenging for a job without success, the unemployment rate would have been 9.3 percent in April, not the reported rate of 9 percent. And if the participation rate were as high as it was when the recession began, 66 percent, in December 2007, the unemployment rate could have been as high as 11.5 percent.
http://news.yahoo.com/s/ap/20110602/ap_on_bi_ge/us_economy_missing_workers (http://news.yahoo.com/s/ap/20110602/ap_on_bi_ge/us_economy_missing_workers)
Now, who was running his mouth about how great the economy was recovering, slobbering over this joke of a president, again?
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Mal benny straw true adonis andre et al.
These clowns will never admit that obamas economic policies have failed in all respects.
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And, keep in mind, even the Obama-slurping AP has admitted that the "official" 9.1% unemployment is because they don't count people who've stopped looking for work or who've been unemployed a year or longer.
Factor in those folks and unemployment is over 11 percent.
And that doesn't even count the "underemployed" (i.e. college grads who are flipping burgers, many of whom have to move back home with their parents, because the jobs aren't there, despite all the "hope and change" for which they foolishly voted).
Are Obama and Biden going to put their feet in their mouths and promise another "Recovery Summer" as they did last year?
By the government's definition, if you quit looking, you're no longer counted as unemployed. And you're no longer part of the labor force.
Since November, the number of Americans counted as employed has grown by 765,000, to just shy of 139 million. The nation has been creating jobs every month as the economy recovers. The economy added 244,000 jobs in April.
But the number of Americans counted as unemployed has shrunk by much more — almost 1.3 million — during this time. That means the labor force has dropped by 529,000 workers.
The percentage of adults in the labor force is a figure that economists call the participation rate. It is 64.2 percent, the smallest since 1984. And that's become a mystery to economists. Normally after a recession, an improving economy lures job seekers back into the labor market. This time, many are staying on the sidelines.
Their decision not to seek work means the drop in unemployment from 9.8 percent in November to 9 percent in April isn't as good as it looks.
If the 529,000 missing workers had been out scavenging for a job without success, the unemployment rate would have been 9.3 percent in April, not the reported rate of 9 percent. And if the participation rate were as high as it was when the recession began, 66 percent, in December 2007, the unemployment rate could have been as high as 11.5 percent.
http://news.yahoo.com/s/ap/20110602/ap_on_bi_ge/us_economy_missing_workers (http://news.yahoo.com/s/ap/20110602/ap_on_bi_ge/us_economy_missing_workers)
Now, who was running his mouth about how great the economy was recovering, slobbering over this joke of a president, again?
again..I find it really laughable that when the gov't figures are bad all of a sudden you guys quote them as the truth and nothing but the truth, but when they show a positive trend and I quote them, they are wrong and a conspiracy to make Obama look good...
you guys are so hypocritical you are blind to your own stupidity and hypocrisy
that orange cell-tech is really causing brain damage
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There never was any positive trend you moron.
Even now your stupid ass is too goofy to admit that team obama has utterly failed in all respects.
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There never was any positive trend you moron.
Even now your stupid ass is too goofy to admit that team obama has utterly failed in all respects.
goofy???...whose more goofy than you???>>still claiming Obama is not a citizen after thousands of posts.....and after Obama released his BC..the country has moved on..you are the only person still stuck on that...and again..I listed all of Obama's accomplishments.....you are afraid to acknowledge them because you would lose credibility..not that you have any anyway
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The only thing he has accomplished is probably wracking up more frequent flyer miles than anyone else in history.
Oh yeah, he also accomplished playing record amounts of golf, scarfing down kobe beef, booze, etc.
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The only thing he has accomplished is probably wracking up more frequent flyer miles than anyone else in history.
Oh yeah, he also accomplished playing record amounts of golf, scarfing down kobe beef, booze, etc.
sigh........why argue with a moron
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again..I find it really laughable that when the gov't figures are bad all of a sudden you guys quote them as the truth and nothing but the truth, but when they show a positive trend and I quote them, they are wrong and a conspiracy to make Obama look good...
you guys are so hypocritical you are blind to your own stupidity and hypocrisy
that orange cell-tech is really causing brain damage
What positive trend? Unemployment has been in the double-digit for over TWO YEARS, which is why Team Obama has had to fudge the numbers to make it appear that is under 10%.
The "official" job numbers didn't drop due to job creation; it dropped due to cooking the books, not counting people who aren't looking for work, or counting TEMPORARY census jobs.
That has been shown time and time again. Yet, you continue to spout this foolishness. Despite the numbers, despite the Dems getting KILLED in the midterms, you continue to make a fool of yourself, pretending that Obama is doing a great job with the economy.
To use football terms, your idea of a "positive" trend is like the Detroit Lions, going 2-14, after going 0-16.
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Obama is doing a great job on the economy as he defines it. He is destroying it and and collapsing the nation, exactly what most of team kenya want.
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What positive trend. Unemployment has been in the double-digit for over TWO YEARS, which is why Team Obama has had to fudge the numbers to make it appear that is under 10%.
The "official" job numbers didn't drop due to job creation; it dropped due to cooking the books, not counting people who aren't looking for work, or counting TEMPORARY census jobs.
That has been shown time and time again. Yet, you continue to spout this foolishness. Despite the numbers, despite the Dems getting KILLED in the midterms, you continue to make a fool of yourself, pretending that Obama is doing a great job with the economy.
To use football terms, your idea of a "positive" trend is like the Detroit Lions, going 2-14, after going 0-16.
again you use the term "cooking the books"...so the numbers are real when you quote them, but false when I do????..don't you think you are being hypocritical??????????????????????????????????????????????
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Andre the only number you need to look at is the overall labor participation rate.
Face it - obama failed and so have you. Why not take that obama commerative plate and break it over your head. Maybe you will wake up from your hoax and change fantasy land.
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again you use the term "cooking the books"...so the numbers are real when you quote them, but false when I do????..don't you think you are being hypocritical??????????????????????????????????????????????
Hardly!! You claim that the drop in unemployment, a few months back, was because of the improving economy. You even made a thread on it and called out 333386 on it. But he (and I, and well, half a dozen other people) pointed out that the reason for the drop was NOT economic growth but simply cooking the books (not counting people who ain't looking for work, among other things).
We pointed that out then; we point it out NOW.
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Hardly!! You claim that the drop in unemployment, a few months back, was because of the improving economy. You even made a thread on it and called out 333386 on it. But he (and I, and well, half a dozen other people) pointed out that the reason for the drop was NOT economic growth but simply cooking the books (not counting people who ain't looking for work, among other things).
We pointed that out then; we point it out NOW.
that cooking the books thing you keep bringing up has been the way that these statistics have been counted forever..it didn't just start with Obama as you would have people believe...
can you go look in the mirror and admit you're wrong for a change???
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Ha ha ha ha - even with the magic sauce things are terrible.
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Remember biden two years ago saying we would have 500k jobs a month?
Lmao. Fail.
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Remember biden two years ago saying we would have 500k jobs a month?
Lmao. Fail.
I think the FAIL is on you..OBAMA and BIDEN still in power..can't change that :D
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No - the fail is on the economy as a result of obamas policies which are making things worse.
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I think the FAIL is on you..OBAMA and BIDEN still in power..can't change that :D
Remember when you made a thread saying Obama's handling of the economy was kicking 333's ass?
Hi, 58,000 jobs (60% of which were McDonald's hires)! LOLOLOLOLOL!
Now be a good little Obama drone and disappear for a few months to lick your wounds.
Joe Biden: Derp, Obama will be making 500k jobs a month in no time. Bahahaha!
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Looking back - I think obamacare alone is probably the single worst thing he has done.
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Remember when you made a thread saying Obama's handling of the economy was kicking 333's ass?
Hi, 58,000 jobs (60% of which were McDonald's hires)! LOLOLOLOLOL!
Now be a good little Obama drone and disappear for a few months to lick your wounds.
Joe Biden: Derp, Obama will be making 500k jobs a month in no time. Bahahaha!
sigh,..can you please stop posting here and get back to studying for your GED???
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Andre - personal insults don't bolster your case here.
Why do you believe the rconomy is still in shambles?
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Andre - personal insults don't bolster your case here.
Why do you believe the rconomy is still in shambles?
This asshole has spent 3+ pages now ignoring the mountain of evidence presented against his stupid claims. How terribly pathetic. :-\
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This asshole has spent 3+ pages now ignoring the mountain of evidence presented against his stupid claims. How terribly pathetic. :-\
I have directly answered everything you guys have thrown at me dickface.....arguing with you guys is a waste of time..I'm taking a breather
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I have directly answered everything you guys have thrown at me dickface.....arguing with you guys is a waste of time..I'm taking a breather
What about the jobs report?
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What about the jobs report?
I acknowledged that the jobs report looks bad..what more do you want?...at least I have the critical thinking skills and the objectivity to do so..you guys don't possess either....just a fact..not a putdown
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I acknowledged that the jobs report looks bad..what more do you want?...at least I have the critical thinking skills and the objectivity to do so..you guys don't possess either....just a fact..not a putdown
Hahaha, "critical thinking skills" and "objectivity" aren't in your vocabulary nor have they ever been, you pathetic, biased Obama drone.
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Hahaha, "critical thinking skills" and "objectivity" aren't in your vocabulary nor have they ever been, you pathetic, biased Obama drone.
I wouldn't mention the word biased if I were you.....by the way..you do any studying for your GED today???
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Half the jobs this month came from mickey d's. I wonder if their exemption from obamacare was a payoff to hire these people to make zero look good?
Hope and change morons - you voted for this - now enjoy it.
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I acknowledged that the jobs report looks bad..what more do you want?...at least I have the critical thinking skills and the objectivity to do so..you guys don't possess either....just a fact..not a putdown
lol. Critical thinking and objectivity? So how is paying off one government loan with another government loan and still owing 27 billion a success?
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The scary truth behind the new jobs numbers
Last Updated: 12:58 AM, June 7, 2011
Posted: 11:51 PM, June 6, 2011
More Print John Crudele
The Federal Reserve is in trouble. And that means we are all in trouble.
You've already had time to digest last Friday's employment report. The government said just 54,000 jobs were created during May, which was a whole lot worse than the 243,000 new positions that allegedly popped up in April.
Neither of those numbers is an accurate representation of what's really going on in the job market.
What happens when the jobs data comes out the first Friday of every month is really nothing more than an exercise in Fun With Government Numbers.
The government's data on the economy is so bad it should be written in crayon, with happy face stickers next to it.
As I've been saying, the employment numbers this spring were destined to get better because the Labor Department -- which creates several pieces of economic data that border on the fictitious -- is very generous with assumptions about new companies that are supposed to be forming when the temperature warms.
And for two months -- March and April -- job growth was well above expectations.
That's what makes the May figure so disturbing. Job growth in May should also have been good.
In order to come up with growth of 54,000 new jobs the Labor Department had to assume the unlikely -- that 206,000 jobs were created by newly-formed companies it thinks but can't prove were "born" in May.
You can find that figure right on the Labor Department Web site at www.bls.gov/web/empsit/cesbd.htm. This is called Labor's Birth/Death Model, and it's the nearest thing to a fraud perpetrated by Washington.
Without this generous assumption, the US would have lost jobs in May, rather than having created a paltry number of them.
President Obama won't fully understand the mess he's in until he realizes how squishy these job figures are. And Labor is doing nothing to correct these false assumptions.
Despite the fact that the economy is clearly slowing, the department this year added 206,000 phony jobs to May; last year's guess was "just" 192,000. And those 192,000 jobs had to eventually be taken out of the annual calculation. So, bottom line: The economy is in bad shape even before talk of possible budget cuts and debt ceilings disrupt it even more.
Congress and the president long ago abdicated their role in helping the economy.
The federal budget deficits, created over the decades, that elected officials of both parties have neutered the government's ability to spend its way out of this recession.
And by keeping interest rates so low for so long the Fed has not only given up most of its power, but it has also stoked inflation.
Which leaves us with the supposed magic elixir that the Fed is selling like some carnival barker: quantitative easing, the printing of extra electronic currency that can float around the financial system.
The Fed has already gone through batches 1 and 2 of this elixir, and it'll only be a matter of days before Wall Street will be crying for another dose.
Quantitative Easing 1 & 2 didn't do much for the economy, as you can see from the unsatisfactory number of jobs created over the past two years. That's especially clear if you look at the job gains after Labor revises them in the months ahead.
But the stock market sure loved the QEs. If this extra money can't find a place in the real economy that creates jobs and expands companies, then it is more than welcome on Wall Street, where speculation leads to bubbles and wealth for the lucky few.
There wasn't much of a outcry for QE3 after last Friday's pathetic jobs report. Spiro Agnew's Silent Majority just doesn't have a voice in the economic debate. But you can be sure of this -- if the stock market continues to decline (and it probably will) Wall Street will be howling for more quantitative juice before long.
Will it come? The temptation will be great because the Fed, as I said, is in trouble and out of ideas. But even Fed Chairman Ben Bernanke, who birthed the idea of QE while pitter-pattering around Princeton, seems reluctant this time.
At his first-ever news conference a few weeks back, Bernanke said the QE dangers are starting to outweigh the benefits.
*
Which gets me back to my favorite subject: my idea for fixing the economy.
If Washington wants to stimulate the economy without spending money (which it doesn't have) or reducing interest rates (which can't go any lower) or destroying the value of the dollar and stoking in flation (which Bernanke's QE is doing), then it should try my plan.
Change the rules on retirement accounts so that some small amount of the $15 trillion in these plans can be in vested in real estate.
Let the Americans who can afford to buy real estate in their retirement plans do so.
Give them tax breaks. Encourage them to move into vacant condos in Florida, Arizona, California and everywhere else.
Get these properties off the books of banks and the federal government.
I'll get back to this another time when I have more space. But someone had better come up with a new idea -- and fast.
john.crudele@nypost.com
Read more: http://www.nypost.com/p/news/business/the_scary_truth_behind_the_new_jobs_sxVG31pHrge11Ci6FmfiRL#ixzz1Oapbjyvy
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Remember when you made a thread saying Obama's handling of the economy was kicking 333's ass?
Hi, 58,000 jobs (60% of which were McDonald's hires)! LOLOLOLOLOL!
Now be a good little Obama drone and disappear for a few months to lick your wounds.
Joe Biden: Derp, Obama will be making 500k jobs a month in no time. Bahahaha!
Always knew that I would clock Gs
But welcome to McDonald's. May I take your order please?
I gotta serve you food that might give you cancer,
'Cause my son doesn't take no for an answer.
Now I pay taxes that they never give me back.
What about diapers, bottles, and Similac? - O'Shea "Ice Cube" Jackson, "A Bird in the Hand"
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Hey it was based on what was going on at the time.....I really thought that was the start of good news for the economy...I guess I was ahead of myself.....I still think things will get better
Year later bump for ANDRELOVESFATHAIRYCHICKS
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and what would the repubs do differently????
I don't even know if that's what it is about now, I just think its the "hey, let's see if something else works" mentality now. Can you really blame anybody?
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I don't even know if that's what it is about now, I just think its the "hey, let's see if something else works" mentality now. Can you really blame anybody?
you're probably right
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A year later and not a damn thing has changed. More proof of the Usurper's failed presidency.
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A year later and not a damn thing has changed. More proof of the Usurper's failed presidency.
still got your mom dancing in your avatar I see
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still got your mom dancing in your avatar I see
:D ;D :o