Jobs rose by only 18000 ... here comes double dip.

[wonderwort]

http://news.yahoo.com/jobs-seen-boosting-hopes-economic-revival-040919278.html

Omg.

 

[laikaNYC]

So the unemployment rate is now 9.2%, rising 0.1% in just one month. Obama previously said unemployment wouldn't go over 8%.

The nearly TRILLION dollar stimulus has failed miserably.

He's toast come next year.

 

[rareboy]

^ You wish.

Get out there and buy something that someone in the US has made. Save the US economy.

The stimulus spending was as much about preserving the jobs that were left.

And the money flowed right back through the economy. So it wasn't a failure.

So far though, the markets seem to be shrugging, although I see some of my defensive stocks are up this morning.

If anything is hamstringing the US recovery, it is the staggering debt load of the consumers and the costs of making Halliburton shareholders rich.

 

[maxpowr9]

Laika sorry you're tardy but we already talked the dismal job growth this past month.

 

[CowboyBob]

This is another Republican failure.

Boehner and his Republican cronies ran on a platform of jobs jobs jobs, but have not done anything to create a jobs bill. Mr Boehner, where are the jobs you talked endlessly about?

Since congress turned Republican, the economy has been stagnant. They are only concerned about lining the pockets of the wealthiest Americans. Have you noticed they now call billionaires "job creators"... ? They're assigning a Messiah title to these greedy parasites.

Okay, Mr Boehner, where are all these jobs you said you would create when your gang was elected into office?

Ever since this bunch became the House majority all they talk about is immigration, Sharia law, abortion, gay rights....... trying to turn Americans against each other. Republicans are intruding into people's private lives like never before.

The only good thing about this news is it's still job creation..... not the hundreds of thousands of jobs lost every month when Bush was destroying the economy. God help us if those people (Reactionary Republicans) ever get back in power. Americans have a short, convenient memory.

 

[palemale]

So the unemployment rate is now 9.2%, rising 0.1% in just one month. Obama previously said unemployment wouldn't go over 8%.

The nearly TRILLION dollar stimulus has failed miserably.

He's toast come next year.

Can you identify any legislation the Republican House of Representatives has passed, or proposed, that would improve the jobs situation?

 

[chrisrobin]

So the unemployment rate is now 9.2%, rising 0.1% in just one month. Obama previously said unemployment wouldn't go over 8%.

The nearly TRILLION dollar stimulus has failed miserably.

He's toast come next year.

ZZZZZZZZZZZZZZZZZZZ

 

[Zu-Mendel]

So, good day for the GOP I take it?

 

[rareboy]

I thought that Boehner was all about Jobs, Jobs, Jobs.

 

[chrisrobin]

I thought that Boehner was all about Jobs, Jobs, Jobs.

...only if you consider hand jobs part of the Republican agenda. The current House of Representatives is the closest thing we're going to get to a public circle jerk. Now those behind closed door meetings, now that's the horse of a different color.

Boner is about defunding Planned Parenthood, NEA and attacking a woman's right to choose.

 

[T-Rexx]

What people don't seem to understand is that jobs will not come back until the wealth taken from the middle class by GWB is restored to the middle class.

Until then, we are stuck in the Bush Depression.

But I don't think the Republicans are going to allow this to be fixed. Depressions tend to benefit the wealthy - especially the extremely wealthy. Look for Republicans to continue to do everything they can to prolong the current misery. And look for Obama to do everything he can to placate them.

 

[rareboy]

So overall, I don't see the financial markets that upset as we get to the end of the day.

I think if there had been a loss of jobs that might have rocked the markets.

 

[rareboy]

OTTAWA—Canada's net job gains beat expectations in June for a third consecutive month, coming in at almost double the consensus figure, data that economists say point to rate increases later this year.

Employment was driven by hiring for part-time work. The jobless rate held steady at a near 2½-year low as the labor force swelled.

Employers hired a net 28,400 workers, up from 22,300 in May, Statistics Canada said Friday, with total employment growing by 237,500 over the past 12 months. The market had expected 15,000 new jobs to be created.

The jobless rate was unchanged at 7.4%, in line with expectations as the labor force increased by 42,000 after declining previously. The participation rate, which is the share of the population in the labor force, edged up to 66.9% from 66.8%.

Source Link (added by moderator): http://online.wsj.com/article/SB10001424052702303544604576433771069771818.html

I almost feel bad posting it. Except that I note it is also driven by part time workforce increases.

But seriously US free market conservatives....

I mean c'mon.

If you allow all your manufacturing to be done off-shore, let the multi-national corporations ship all their profits out of the country and drive down the living wages of the population, where the fuck are all these jobs supposed to come from?

What new products and technologies are US companies spearheading these days?

What new wonderful services have American entrepreneurs thought up to sell to one another in order to keep the wheels of an economy going?

The fact is, the tech boom fueled the real estate boom and the Bush wars fueled the faltering military boom.

We're out of boom. At least for the time being. I thought that fuel efficient transport and alternative fuels might have created new wealth...but no.

Purely and simply it is now just a numbers game until something drives the next generation of invention and manufacturing.

What could we do with 3D porn?

 

[Jack Springer]

How anyone can see this is good news is beyond me.

 

[rareboy]

Well we know for sure that it would be the direst and blackest news for you Jack.

Sometimes there must be a pony.

 

[JB3]

What people don't seem to understand is that jobs will not come back until the wealth taken from the middle class by GWB is restored to the middle class.

Until then, we are stuck in the Bush Depression.

But I don't think the Republicans are going to allow this to be fixed. Depressions tend to benefit the wealthy - especially the extremely wealthy. Look for Republicans to continue to do everything they can to prolong the current misery. And look for Obama to do everything he can to placate them.

You mean the Bush/Clinton/Bush/Reagan/Carter depression. Trying to pin it on one reveals you to be the ideologue you are. All of them had a hand in it, and all of them contributed to the things that caused it.

As for the bolded part: the majority of those jobs are never coming back. Ever. So 'taking back' the wealth isn't going to do a damn thing, especially if its done in the hamfisted manner anyone should expect from the Obama administration.

 

[CowboyBob]

How anyone can see this is good news is beyond me.

From 2003:

Bush's Job-Loss Recovery the Worst on Record Since the Great Depression

With wages stagnant, job creation slow and unemployment swelling, it's clear that President Bush's trillion-dollar tax cuts still haven't produced the kind of economic recovery that will lift all workers and job seekers.

http://www.workinglife.org/wiki/ind...d+Since+the+Great+Depression+(October+7,+2003)

From 2008:

Bush calls worst job losses in five years 'disappointing'

The U.S. economy lost 159,000 jobs last month -- the steepest one-month job loss in more than five years, the ninth straight month of job losses in a row

http://latimesblogs.latimes.com/presidentbush/2008/10/job-losses.html

And Republicans still want to continue with the failed Bush policies.

Springer, this is how your precious Republicans run things. Compare the OP's headlines to your George W Bush's headlines. Geeez.... Republicans sure have short memories.

 

[T-Rexx]

You mean the Bush/Clinton/Bush/Reagan/Carter depression. Trying to pin it on one reveals you to be the ideologue you are. All of them had a hand in it, and all of them contributed to the things that caused it.

Nope. The eight years of the GWB administration saw the greatest transfer of wealth from one class to another ever. In all of American history. Other recent presidents saw a slight reduction of the middle class in favor of the rich, but all are insignificant when compared to GWB. The two decades leading up to the Great Depression saw a transfer of wealth from poor to rich similar to that of the GWB administraiton, but it was spread out over a longer time period.

The gap between rich and poor started growing before Ronald Reagan took office, and it continued to widen through the Clinton years. But what is happening under Bush is something entirely unprecedented: For the first time in our history, so much growth is being siphoned off to a small, wealthy minority that most Americans are failing to gain ground even during a time of economic growth -- and they know it.


- Paul Krugman, 2006

http://www.informationclearinghouse.info/article15923.htm

http://thepoliticsofdebt.com/2007/11/21/less-power-to-the-people/

As for the bolded part: the majority of those jobs are never coming back. Ever. So 'taking back' the wealth isn't going to do a damn thing, especially if its done in the hamfisted manner anyone should expect from the Obama administration.

The jobs are not coming back until wealth is redistributed to the middle class.

The USA is operating now under a third world economy, with a tiny number of fabulously rich people holding power over lots and lots of relatively poor. Such conditions are conditions of permanent depression, unless we elect to fix it.

The Great Depression was a time of massive transfer of wealth from the rich back to the middle class. It set up the abundant American prosperity of the 1950s by restoring the middle class. But it took 20 years of concerted effort by the government, and a tax policy that taxed 90% of the income for the highest earners by the 1950s.

Today, we have no concerted effort by anyone to restore the middle class. Republicans are hell bent on preserving the wealth of the wealthiest. By their behavior, they are condemning America to permanent depression - permanent status as a third world style economy. And permanently high unemployment.

 

[JayHawk]

The over riding defeatism is evident... and too bad. Because it won't last. That and Canada's amazing boom ( ) certainly won't last. Life and markets move in cycles. I have no doubt where this is headed. just matters how defeated and self depreciating your willing to be along the way.

 

[JB3]

Nope. The eight years of the GWB administration saw the greatest transfer of wealth from one class to another ever. In all of American history. Other recent presidents saw a slight reduction of the middle class in favor of the rich, but all are insignificant when compared to GWB. The two decades leading up to the Great Depression saw a transfer of wealth from poor to rich similar to that of the GWB administraiton, but it was spread out over a longer time period.





http://www.informationclearinghouse.info/article15923.htm

http://thepoliticsofdebt.com/2007/11/21/less-power-to-the-people/




The jobs are not coming back until wealth is redistributed to the middle class.

The USA is operating now under a third world economy, with a tiny number of fabulously rich people holding power over lots and lots of relatively poor. Such conditions are conditions of permanent depression, unless we elect to fix it.

The Great Depression was a time of massive transfer of wealth from the rich back to the middle class. It set up the abundant American prosperity of the 1950s by restoring the middle class. But it took 20 years of concerted effort by the government, and a tax policy that taxed 90% of the income for the highest earners by the 1950s.

Today, we have no concerted effort by anyone to restore the middle class. Republicans are hell bent on preserving the wealth of the wealthiest. By their behavior, they are condemning America to permanent depression - permanent status as a third world style economy. And permanently high unemployment.

The transfer of wealth didn't cause the collapse and a transfer of wealth back isn't going to fix it. The middle class doesn't create jobs, and no amount of wealth that they have is going to cause that to change. You can go on thinking that, but I hate to break it to you pal, the jobs aren't ever coming back. They're gone for good.

Not to mention the fact that the history of the Great Depression you're relying on is laughably wrong.

As I said in my original post, what happened was the result of decades of economic mismanagement that came to a head thanks to a collapse in the housing market and the financial instruments associated with it. Blaming Bush alone is like Blaming Hoover for the Great Depression; its convenient for a political hack, but its far removed from reality.