John Cassidy at The New Yorker agrees. "Four years after the nadir of the
Great Depression...John - the Great Depression was in the 1930s.Henry,unemployment is still higher than at any time during the
Bush administration. And of course, many of those replacement jobs folks have
found pay MUCH less than they jobs the lost when the barney frank-induced
housing bubble collapsed. And the participation rate is dropping again as
well.TeaPublican,we know by your moniker that you are here
just to blast those with whom you disagree. butdollars are worth less now
than they were 4 years ago. It is NOT that stocks are actually worth more, or
that corporate profits are higher in real dollar terms, it just takes more of
today's devalued BObucks to get the same value as 4 years ago.
Is today April Fools? The title of this article is quite amusing.
The stock market it up simply due to the fact that it has been sipping fed-roids
the past four years. Housing is up because the fed is pushing rates to all time
lows. The real question is what will happen when the economy goes through fed
Only the media, college teachers, students and government employees would
believe these things. Housing is rebounding slightly only because of the glut
of cheap houses and the artificial Obama interest rates. Real market interest
rates would stop housing in it's tracks. The stock market seems to be
rising but it is a function of inflation and lack of investment alternativesem.
Real unemployment, measured as it was done in the past would be over 20%.
Disposable income as a percent of earnings has not been lower since the
Depression. Government debt is out of control and getting worse because wild out
of control spending is destroying the country. This nation is almost bankrupt.
There is no reason to be optomistic.
Why am I grump?1. In the past three years I lost my business, with
all my equipment being auctioned off by the bank.2. I was laid off from
the job I was able to eventually get and spent 6 months without a pay check.3. Cobra on my wife will run out in two months, so none of us will have
health insurance, but it doesn't really matter since we cannot afford the
cost anyway.4. My new job does not offer health insurance, and I make
about 35% of what I was making before, which means that I cannot pay all my
bills each month.5. Virtually all the money we had saved over 30 years
for retirement is gone, so the could raise the SS retirement age to 75 and it
would not impact me. I will work until the day I die.6. The leaders of
our country, from all parties, care nothing about the country or its
citizens.No, I am not optimistic about the future, about the present
or life in general. I see little to be happy about, little to find hope in and
no reason to think anything will change.
The fact remains that the primary reason the unemployment rate has been falling
is that discouraged workers keep dropping out of the labor force (i.e. they stop
looking for work). As far as the unemployment rate goes, the discouraged worker
has been Obama's best friend. He never would have gotten reelected if they
had stayed in the labor force. If the labor force participation rate had
remained constant (it is now at about a 30 year low), unemployment would be over
11% right now. Try getting reelected with those numbers! So, if you are an Obama
fan, thank a discouraged worker.
I just don't understand how this can be happening! All of us know that
obama is the worst President ever and that his economic policies are just
destroying America. So why is the U.S. Dow Jones Industrial Index breaking its
all-time record and world stocks are going higher and higher…and income is
on the rise? What the heck is going on here? We TeaPublicans think there is
some kind of conspiracy going on here and I sure hope FoxNews gets to the bottom
of it! Somebody has got to be held responsible for trying to make that guy
obama look good…when we all know he isn’t! Well this so called
“good news” will be short lived. When our TeaPublican sequester
cuts hit we will see higher unemployment and a drop in income. If we
TeaPublicans can keep it like that it will sure be a lot easier for us to defeat
democrats in 2014 and 2016!
How can there possibly be any good economic news with Che Guevara, uh... I mean,
Obama still in office? Ouch... the cognitive dissonance just shook
loose one of my fillings.
We're down to 7.7% unemployment having added some 236,000 jobs in February.
If we can keep that pace we'll be around 6.8 - 6.9 % this year. Let's
hope Congress fixes the budget issues so we don't start losing jobs after
all this work.