More economic good news: 173,000 jobs added, unemployment drops to 5.1%

[Dad2three]

Cue outrage over workforce participation rate

Employers added 173,000 jobs in a key report that could help the Federal Reserve decide whether to raise interest rates later this month.
The unemployment rate fell from 5.3% to 5.1%, lowest since March 2008.


Jobs

Is that counting all the illegals doing jobs "Americans don't want"?

We still have a record number of people not in the workforce. That is the only way the "unemployment rate" goes down with this administration.

We had record numbers of people not in the workforce throughout the entire Bush Regime, funny none of the Right accused Bush of using them to keep his UE rate artificially low.

Uh, no we didn't. During the Bush years we had record high workforce participation rates. Only after Dems took Congress and sank the economy in his last year did it go down. It continued to go down during the Hussein's Presidency.

Don't let FACTS OR TRUTH stop your screed Bubs

But since 2000, the labor force rate has been steadily declining as the baby-boom generation has been retiring. Because of this, the Federal Reserve Bank of Chicago expects the labor force participation rate to be lower in 2020 than it is today, regardless of how well the economy does.

In a March report titled "Dispelling an Urban Legend," Dean Maki, an economist at Barclays Capital, found that demographics accounted for a majority of the drop in the participation rate since 2002


The incredible shrinking labor force

 

[Dad2three]

I hate point out the obvious here, Kiddies...but the US economy is grinding along...just as it's been for the past eight years. You can tell it is because if it weren't...then the Fed would be raising interest rates. The Fed won't be doing that however because quite frankly they're scared to death that Wall Street will crater if they do.

EIGHT YEARS? HINT DUBYA'S PONZI SCHEME HOUSING BUBBLE ALLOWED IT TO APPEAR AS GROWTH, BUT THERE WAS NONE

The Economic Blue Screen of Death

James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.

Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.


Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off. Look at the fall in the numbers for yourself:

In 2005 there was almost $595 billion in mortgage extractions that went into some kind of consumer spending. Remember, according to the graph above, that translated into a 3% rise in GDP. In 2007, MEWs were down to $470 billion, for a boost of 2% to GDP.


The second quarter of 2008 saw an anemic $9.5 billion. At that run rate, we could see a drop-off of over 90% from 2005! Now, think what the second quarter would have been without the federal stimulus program of $150 billion. It might have looked and felt like this quarter!

The Economic Blue Screen of Death


RONNIE REAGAN/DUBYA BUSH AND GOP RUN DEBT ECONOMIES RUN OFF THE CREDIT CARD, NOTHING MORE!

 

[Dad2three]

Keynesian economics is in its twilight days and soon to become a relic of a former era.


1929 And Its Aftermath - A Contra-Keynesian View Of What Really Happened | Zero Hedge

This is a jaw dropping article. If you don't read anything else for the rest of the year, read this. Of course, found on ZH......written in 1979. Whats fascinating is, I had never been exposed to this theory in college while studying economics or any of the books I read in the 1980s written by the talking heads I had so respected. Only the partial story was told....always......about how we got into the Great Depression and it was always about protectionism and tarrifs.....and then the big rescue: big government saved us.....FDR always championed as a hero. Keynesian economics accepted by students of economics as a rational economic policy for decades after......

I had always wondered about the dynamic of inflation........then I read this article. These fuckers rigged prices back in the early 1900's and into the 1920's and it was a fucking coordinated strategy BETWEEN NATIONS and engineered by the Fed. The market has been purposefully rigged for the past 100 years my friends.......this article, a long read.............makes so much sense its dizzying. I am going to go back and read it again and I suggest you guys both do the same. Deflationary policies are the only sane thing to do and for 100 years now, these fuckers just double down to KEEP THE PRICES HIGH EVERYWHERE!!! There is no free market my friends ( like the phony leaders have been telling us all our lives )......its all fucking rigged. For the first time in my life, Im even questioning this whole concept of supply and demand. Its been shoved down my throat for 40 years. Ever scratch your head when you go in to a store and a package of Gillette razors is 13 bucks? The Bics are 9 bucks but they suck and rip your face off. There is no competition for Gillette.....you gotta pay the 13 bucks. Pricing is rigged............in every industry. Trade wars? A load of BS.......these fuckers are coordinating monetary policy with other countries all the damn time. And this printing money crap by the FED has been going on for a long, long time.........even these terms like QE are bogus. LMAO.....there is no other model of economics EXCEPT THE KEYNESIAN MODEL!!!!!!!!!!!!!!!!!!!!!!!! It ensures pie in the sky profits for the 1%..........

As Ive been saying for a long time.....idiots like Rightwinger are matrix bubble dwellers still immersed in all the partisan bs.......

Ah another Randian fetishist

 

[theHawk]

Cue outrage over workforce participation rate

Employers added 173,000 jobs in a key report that could help the Federal Reserve decide whether to raise interest rates later this month.
The unemployment rate fell from 5.3% to 5.1%, lowest since March 2008.


Jobs

Is that counting all the illegals doing jobs "Americans don't want"?

We still have a record number of people not in the workforce. That is the only way the "unemployment rate" goes down with this administration.

We had record numbers of people not in the workforce throughout the entire Bush Regime, funny none of the Right accused Bush of using them to keep his UE rate artificially low.

Uh, no we didn't. During the Bush years we had record high workforce participation rates. Only after Dems took Congress and sank the economy in his last year did it go down. It continued to go down during the Hussein's Presidency.

If facts and truth were on your side, you wouldn't have to lie like that.

The truth is ... the record high LFPR was 67.3% in April, 2000. Bush was not president.

The truth is ... the LFPR had already dropped to 66.4% when Democrats took over Congress.

The truth is ... the LFPR dropped to 64.2% while Democrats controlled the Congress.

The truth is ... the LFPR dropped to 63.7% after Republicans took the House.

The truth is ... the LFPR dropped to 62.6% since the beginning of this year when Republicans took the Senate.

Bureau of Labor Statistics Data

It dropped from 62.9 to 62.6, you're complaining about a .3 drop with a repub congress and Obama. Yet you think a drop from 66.0% to 62.4% during the Dem controlled government doesn't reflect on Dems. But the Republicans were horrible for maintaining a steady 66%.

You're a delusional hack.

 

[Dad2three]

Cue outrage over workforce participation rate

Employers added 173,000 jobs in a key report that could help the Federal Reserve decide whether to raise interest rates later this month.
The unemployment rate fell from 5.3% to 5.1%, lowest since March 2008.


Jobs

Is that counting all the illegals doing jobs "Americans don't want"?

We still have a record number of people not in the workforce. That is the only way the "unemployment rate" goes down with this administration.

We had record numbers of people not in the workforce throughout the entire Bush Regime, funny none of the Right accused Bush of using them to keep his UE rate artificially low.

Uh, no we didn't. During the Bush years we had record high workforce participation rates. Only after Dems took Congress and sank the economy in his last year did it go down. It continued to go down during the Hussein's Presidency.

If facts and truth were on your side, you wouldn't have to lie like that.

The truth is ... the record high LFPR was 67.3% in April, 2000. Bush was not president.

The truth is ... the LFPR had already dropped to 66.4% when Democrats took over Congress.

The truth is ... the LFPR dropped to 64.2% while Democrats controlled the Congress.

The truth is ... the LFPR dropped to 63.7% after Republicans took the House.

The truth is ... the LFPR dropped to 62.6% since the beginning of this year when Republicans took the Senate.

Bureau of Labor Statistics Data

It dropped from 62.9 to 62.6, you're complaining about a .3 drop with a repub congress and Obama. Yet you think a drop from 66.0% to 62.4% during the Dem controlled government doesn't reflect on Dems. But the Republicans were horrible for maintaining a steady 66%.

You're a delusional hack.

Don't let FACTS OR TRUTH stop your screed Bubs

But since 2000, the labor force rate has been steadily declining as the baby-boom generation has been retiring. Because of this, the Federal Reserve Bank of Chicago expects the labor force participation rate to be lower in 2020 than it is today, regardless of how well the economy does.

In a March report titled "Dispelling an Urban Legend," Dean Maki, an economist at Barclays Capital, found that demographics accounted for a majority of the drop in the participation rate since 2002


The incredible shrinking labor force

 

[edthecynic]

Cue outrage over workforce participation rate

Employers added 173,000 jobs in a key report that could help the Federal Reserve decide whether to raise interest rates later this month.
The unemployment rate fell from 5.3% to 5.1%, lowest since March 2008.


Jobs

Is that counting all the illegals doing jobs "Americans don't want"?

We still have a record number of people not in the workforce. That is the only way the "unemployment rate" goes down with this administration.

We had record numbers of people not in the workforce throughout the entire Bush Regime, funny none of the Right accused Bush of using them to keep his UE rate artificially low.

Uh, no we didn't. During the Bush years we had record high workforce participation rates. Only after Dems took Congress and sank the economy in his last year did it go down. It continued to go down during the Hussein's Presidency.

If facts and truth were on your side, you wouldn't have to lie like that.

The truth is ... the record high LFPR was 67.3% in April, 2000. Bush was not president.

The truth is ... the LFPR had already dropped to 66.4% when Democrats took over Congress.

The truth is ... the LFPR dropped to 64.2% while Democrats controlled the Congress.

The truth is ... the LFPR dropped to 63.7% after Republicans took the House.

The truth is ... the LFPR dropped to 62.6% since the beginning of this year when Republicans took the Senate.

Bureau of Labor Statistics Data

It dropped from 62.9 to 62.6, you're complaining about a .3 drop with a repub congress and Obama. Yet you think a drop from 66.0% to 62.4% during the Dem controlled government doesn't reflect on Dems. But the Republicans were horrible for maintaining a steady 66%.

You're a delusional hack.

It was 64.2% When the Dems lost control.

 

[Vigilante]

698K Native-Born Americans Lost Their Job In August

Zero Hedge and Drudge ^ | 7 Sep 15 | Tyler Durden
698K Native-Born Americans Lost Their Job In August: Why This Suddenly Is The Most Important Jobs Chart After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a rate hike "threshold" once it hit 6.5% and is now at 5.1%) has become irrelevant in a country where a record 94 million people have left the labor force, and with the Fed poised to hike rates even though US hourly wages have not only not increased for the past 7 years, but for the vast majority of the labor force continue...

 

[Dad2three]

698K Native-Born Americans Lost Their Job In August

Zero Hedge and Drudge ^ | 7 Sep 15 | Tyler Durden
698K Native-Born Americans Lost Their Job In August: Why This Suddenly Is The Most Important Jobs Chart After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a rate hike "threshold" once it hit 6.5% and is now at 5.1%) has become irrelevant in a country where a record 94 million people have left the labor force, and with the Fed poised to hike rates even though US hourly wages have not only not increased for the past 7 years, but for the vast majority of the labor force continue...

SO PEOPLE LEGALLY ALLOWED TO WORK IN THE US, MOST CALLED US CITIZENS!!


Highlights from the 2014 data:

--In 2014, there were 25.7 million foreign-born persons in the U.S. labor force,
comprising 16.5 percent of the total. (See table 1.)

--Hispanics accounted for 48.3 percent of the foreign-born labor force in 2014 and Asians accounted for 24.1 percent. (See table 1.) (Data in this news release for persons who are white, black, or Asian do not include those of Hispanic or Latino ethnicity. Data on persons of Hispanic or Latino ethnicity are presented separately.)

--Foreign-born workers were more likely than native-born workers to be employed in service occupations and less likely to be employed in management, professional, and related occupations and in sales and office occupations. (See table 4.)

Labor Force Characteristics of Foreign-born Workers Summary


WOW, RECORD CORP PROFITS, LOWEST SUSTAINED TAX "BURDEN" ON THOSE JOB CREATORS IN 80+ YEARS AND ALL THEY GIVE US ARE LOW WAGE SERVICE JOBS???? LOL

 

[tigerred59]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Yet after 8 years o Dubya/GOP policies, they lost over 1,000,0000+ PRIVATE sector jobs. Even stopping at the peak of Dubya's ponzi scheme bubble, it was 4 million, lol

I hate to say this, but these lunatics really have nothing to complain about, nothing. My only beef with Obama and the hill is this non ending spend thrift we have going on overseas fighting a war that both Russia and Europe gave up on ions ago. Trillions being wasted on a war that has no ending, no solution and still we whine about some poor welfare mom getting 200 dollars a month to feed her family. I mean, the irony is just pathetic and sad. That will be Obama's darkest mark with history. His allowing the jews and the GOP-igs to continue a war were no winner will ever emerge.....1 billion muslims and counting...we need to throw in the towels and put all our efforts and ideas on keeping these terrorist out of this country and spend tax payer money on tax payers.

 

[Vigilante]

 

[Faun]

Cue outrage over workforce participation rate

Employers added 173,000 jobs in a key report that could help the Federal Reserve decide whether to raise interest rates later this month.
The unemployment rate fell from 5.3% to 5.1%, lowest since March 2008.


Jobs

Is that counting all the illegals doing jobs "Americans don't want"?

We still have a record number of people not in the workforce. That is the only way the "unemployment rate" goes down with this administration.

We had record numbers of people not in the workforce throughout the entire Bush Regime, funny none of the Right accused Bush of using them to keep his UE rate artificially low.

Uh, no we didn't. During the Bush years we had record high workforce participation rates. Only after Dems took Congress and sank the economy in his last year did it go down. It continued to go down during the Hussein's Presidency.

If facts and truth were on your side, you wouldn't have to lie like that.

The truth is ... the record high LFPR was 67.3% in April, 2000. Bush was not president.

The truth is ... the LFPR had already dropped to 66.4% when Democrats took over Congress.

The truth is ... the LFPR dropped to 64.2% while Democrats controlled the Congress.

The truth is ... the LFPR dropped to 63.7% after Republicans took the House.

The truth is ... the LFPR dropped to 62.6% since the beginning of this year when Republicans took the Senate.

Bureau of Labor Statistics Data

It dropped from 62.9 to 62.6, you're complaining about a .3 drop with a repub congress and Obama. Yet you think a drop from 66.0% to 62.4% during the Dem controlled government doesn't reflect on Dems. But the Republicans were horrible for maintaining a steady 66%.

You're a delusional hack.

How funny is it being called a delusional hack by the very same liar who was caught making the bullshit claims that we had a record high LFPR while Bush was president and that the LFPR didn't drop until Democrats took control of the Congress.



Regardless, the LFPR was 64.2% when Republicans won the House .... it's currently 62.6%. And while you whine about the 1.6 point drop during Bush's Great Recession, you don't seem to notice the 1.6 point drop since then even though the economy is no longer in recession and according to righties, there is no excuse for the LFPR to continue dropping .......

yet it is.

 

[edthecynic]

698K Native-Born Americans Lost Their Job In August

Zero Hedge and Drudge ^ | 7 Sep 15 | Tyler Durden
698K Native-Born Americans Lost Their Job In August: Why This Suddenly Is The Most Important Jobs Chart After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a rate hike "threshold" once it hit 6.5% and is now at 5.1%) has become irrelevant in a country where a record 94 million people have left the labor force, and with the Fed poised to hike rates even though US hourly wages have not only not increased for the past 7 years, but for the vast majority of the labor force continue...

 

[Faun]

698K Native-Born Americans Lost Their Job In August

Zero Hedge and Drudge ^ | 7 Sep 15 | Tyler Durden
698K Native-Born Americans Lost Their Job In August: Why This Suddenly Is The Most Important Jobs Chart After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a rate hike "threshold" once it hit 6.5% and is now at 5.1%) has become irrelevant in a country where a record 94 million people have left the labor force, and with the Fed poised to hike rates even though US hourly wages have not only not increased for the past 7 years, but for the vast majority of the labor force continue...

Poor, demented, vagisil. That's not seasonally adjusted data. The number of employed native-born workers goes up every year as the summer begins and down every year at the end of the summer. That's why folks with a brain only reference seasonally adjusted figures when discussing unemployment.

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2007 -19 638 -34 387 1015 97 -905 70 317 529 -490
2008 -1482 5 803 309 253 218 -25 -587 -755 605 -542 -1115
2009 -2150 68 -570 276 40 164 160 -820 -1164 18 -192 -378
2010 -944 383 641 743 -114 -30 542 -380 -16 -20 -439 -23
2011 -1335 807 756 686 -108 57 251 -77 234 61 101 -406
2012 -892 1073 414 748 313 528 -301 -437 653 519 -374 -433
2013 -1320 541 436 931 616 124 252 -748 -66 -340 544 -178
2014 -577 417 803 775 367 644 118 -1175 -86 1030 -394 -258
2015 -301 379 320 1071 482 579 182 -698

Bureau of Labor Statistics Data[/B]

How embarrassing for you.

[/B]

 

[tigerred59]

I hate point out the obvious here, Kiddies...but the US economy is grinding along...just as it's been for the past eight years. You can tell it is because if it weren't...then the Fed would be raising interest rates. The Fed won't be doing that however because quite frankly they're scared to death that Wall Street will crater if they do.

EIGHT YEARS? HINT DUBYA'S PONZI SCHEME HOUSING BUBBLE ALLOWED IT TO APPEAR AS GROWTH, BUT THERE WAS NONE

The Economic Blue Screen of Death

James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.

Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.


Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off. Look at the fall in the numbers for yourself:

In 2005 there was almost $595 billion in mortgage extractions that went into some kind of consumer spending. Remember, according to the graph above, that translated into a 3% rise in GDP. In 2007, MEWs were down to $470 billion, for a boost of 2% to GDP.


The second quarter of 2008 saw an anemic $9.5 billion. At that run rate, we could see a drop-off of over 90% from 2005! Now, think what the second quarter would have been without the federal stimulus program of $150 billion. It might have looked and felt like this quarter!

The Economic Blue Screen of Death


RONNIE REAGAN/DUBYA BUSH AND GOP RUN DEBT ECONOMIES RUN OFF THE CREDIT CARD, NOTHING MORE!

Preach.....I find it ironic and so hypocritical of the GOP to praise Reagan as this GOP God, when this man and the debt he left this nation in, was entered into the Genis Book of records, that's how high of a debt he left. Yet they praise this guy as being this fiscal genius. The only legacy he left was more people kicked off of welfare, the Aids crisis he ignored and this on going spend thrift with Russia, oh and the 700 dollar toilet seat the Pentagon wasted of tax payers money.

 

[Faun]

I hate point out the obvious here, Kiddies...but the US economy is grinding along...just as it's been for the past eight years. You can tell it is because if it weren't...then the Fed would be raising interest rates. The Fed won't be doing that however because quite frankly they're scared to death that Wall Street will crater if they do.

EIGHT YEARS? HINT DUBYA'S PONZI SCHEME HOUSING BUBBLE ALLOWED IT TO APPEAR AS GROWTH, BUT THERE WAS NONE

The Economic Blue Screen of Death

James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.

Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.


Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off. Look at the fall in the numbers for yourself:

In 2005 there was almost $595 billion in mortgage extractions that went into some kind of consumer spending. Remember, according to the graph above, that translated into a 3% rise in GDP. In 2007, MEWs were down to $470 billion, for a boost of 2% to GDP.


The second quarter of 2008 saw an anemic $9.5 billion. At that run rate, we could see a drop-off of over 90% from 2005! Now, think what the second quarter would have been without the federal stimulus program of $150 billion. It might have looked and felt like this quarter!

The Economic Blue Screen of Death


RONNIE REAGAN/DUBYA BUSH AND GOP RUN DEBT ECONOMIES RUN OFF THE CREDIT CARD, NOTHING MORE!

Preach.....I find it ironic and so hypocritical of the GOP to praise Reagan as this GOP God, when this man and the debt he left this nation in, was entered into the Genis Book of records, that's how high of a debt he left. Yet they praise this guy as being this fiscal genius. The only legacy he left was more people kicked off of welfare, the Aids crisis he ignored and this on going spend thrift with Russia, oh and the 700 dollar toilet seat the Pentagon wasted of tax payers money.

The unemployment rate at this point in Reagan's term was 5.9%

 

[tigerred59]

I agree, its time the top 2% who has created not one damned job, pay up!!

 

[theHawk]

I hate point out the obvious here, Kiddies...but the US economy is grinding along...just as it's been for the past eight years. You can tell it is because if it weren't...then the Fed would be raising interest rates. The Fed won't be doing that however because quite frankly they're scared to death that Wall Street will crater if they do.

EIGHT YEARS? HINT DUBYA'S PONZI SCHEME HOUSING BUBBLE ALLOWED IT TO APPEAR AS GROWTH, BUT THERE WAS NONE

The Economic Blue Screen of Death

James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.

Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.


Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off. Look at the fall in the numbers for yourself:

In 2005 there was almost $595 billion in mortgage extractions that went into some kind of consumer spending. Remember, according to the graph above, that translated into a 3% rise in GDP. In 2007, MEWs were down to $470 billion, for a boost of 2% to GDP.


The second quarter of 2008 saw an anemic $9.5 billion. At that run rate, we could see a drop-off of over 90% from 2005! Now, think what the second quarter would have been without the federal stimulus program of $150 billion. It might have looked and felt like this quarter!

The Economic Blue Screen of Death


RONNIE REAGAN/DUBYA BUSH AND GOP RUN DEBT ECONOMIES RUN OFF THE CREDIT CARD, NOTHING MORE!

Preach.....I find it ironic and so hypocritical of the GOP to praise Reagan as this GOP God, when this man and the debt he left this nation in, was entered into the Genis Book of records, that's how high of a debt he left. Yet they praise this guy as being this fiscal genius. The only legacy he left was more people kicked off of welfare, the Aids crisis he ignored and this on going spend thrift with Russia, oh and the 700 dollar toilet seat the Pentagon wasted of tax payers money.

The unemployment rate at this point in Reagan's term was 5.9%

It was 4.6% when Repubs and Bush were in power, and you progressives screamed and howled about it.

The real unemployment rate under Obama was consistantly 9+ percent, but not counting all those that bowed out of the workforce he gets to claim it went down. The economy will not recover until he leaves office or if Repubs can get a super majority to overwrite his vetos.

 

[Mac1958]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Yet after 8 years o Dubya/GOP policies, they lost over 1,000,0000+ PRIVATE sector jobs. Even stopping at the peak of Dubya's ponzi scheme bubble, it was 4 million, lol

I hate to say this, but these lunatics really have nothing to complain about, nothing. My only beef with Obama and the hill is this non ending spend thrift we have going on overseas fighting a war that both Russia and Europe gave up on ions ago. Trillions being wasted on a war that has no ending, no solution and still we whine about some poor welfare mom getting 200 dollars a month to feed her family. I mean, the irony is just pathetic and sad. That will be Obama's darkest mark with history. His allowing the jews and the GOP-igs to continue a war were no winner will ever emerge.....1 billion muslims and counting...we need to throw in the towels and put all our efforts and ideas on keeping these terrorist out of this country and spend tax payer money on tax payers.

Everything is political for you folks.
.

 

[Dad2three]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Yet after 8 years o Dubya/GOP policies, they lost over 1,000,0000+ PRIVATE sector jobs. Even stopping at the peak of Dubya's ponzi scheme bubble, it was 4 million, lol

I hate to say this, but these lunatics really have nothing to complain about, nothing. My only beef with Obama and the hill is this non ending spend thrift we have going on overseas fighting a war that both Russia and Europe gave up on ions ago. Trillions being wasted on a war that has no ending, no solution and still we whine about some poor welfare mom getting 200 dollars a month to feed her family. I mean, the irony is just pathetic and sad. That will be Obama's darkest mark with history. His allowing the jews and the GOP-igs to continue a war were no winner will ever emerge.....1 billion muslims and counting...we need to throw in the towels and put all our efforts and ideas on keeping these terrorist out of this country and spend tax payer money on tax payers.

Everything is political for you folks.
.

Says the partisan hack...

 

[Dad2three]

I hate point out the obvious here, Kiddies...but the US economy is grinding along...just as it's been for the past eight years. You can tell it is because if it weren't...then the Fed would be raising interest rates. The Fed won't be doing that however because quite frankly they're scared to death that Wall Street will crater if they do.

EIGHT YEARS? HINT DUBYA'S PONZI SCHEME HOUSING BUBBLE ALLOWED IT TO APPEAR AS GROWTH, BUT THERE WAS NONE

The Economic Blue Screen of Death

James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.

Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.


Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off. Look at the fall in the numbers for yourself:

In 2005 there was almost $595 billion in mortgage extractions that went into some kind of consumer spending. Remember, according to the graph above, that translated into a 3% rise in GDP. In 2007, MEWs were down to $470 billion, for a boost of 2% to GDP.


The second quarter of 2008 saw an anemic $9.5 billion. At that run rate, we could see a drop-off of over 90% from 2005! Now, think what the second quarter would have been without the federal stimulus program of $150 billion. It might have looked and felt like this quarter!

The Economic Blue Screen of Death


RONNIE REAGAN/DUBYA BUSH AND GOP RUN DEBT ECONOMIES RUN OFF THE CREDIT CARD, NOTHING MORE!

Preach.....I find it ironic and so hypocritical of the GOP to praise Reagan as this GOP God, when this man and the debt he left this nation in, was entered into the Genis Book of records, that's how high of a debt he left. Yet they praise this guy as being this fiscal genius. The only legacy he left was more people kicked off of welfare, the Aids crisis he ignored and this on going spend thrift with Russia, oh and the 700 dollar toilet seat the Pentagon wasted of tax payers money.

The unemployment rate at this point in Reagan's term was 5.9%

It was 4.6% when Repubs and Bush were in power, and you progressives screamed and howled about it.

The real unemployment rate under Obama was consistantly 9+
percent, but not counting all those that bowed out of the workforce he gets to claim it went down. The economy will not recover until he leaves office or if Repubs can get a super majority to overwrite his vetos.

Really? 4.6%? Oh right, thanks to Dubya's/GOP "home ownership society" ponzi scheme AS he cheered on the Banksters. Hint Dubya left a 7.8% unemployment rate AND losing 700,0000+ jobs a month

TRY TO GIVE ONE POLICY (LAW) THE DEMS PASSED ONCE THEY TOOK CONGRESS THAT CREATED DUBYA'S GREAT RECESSION?

AGAIN:

EIGHT YEARS? HINT DUBYA'S PONZI SCHEME HOUSING BUBBLE ALLOWED IT TO APPEAR AS GROWTH, BUT THERE WAS NONE

The Economic Blue Screen of Death

James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.

Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.


Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off. Look at the fall in the numbers for yourself:

In 2005 there was almost $595 billion in mortgage extractions that went into some kind of consumer spending. Remember, according to the graph above, that translated into a 3% rise in GDP. In 2007, MEWs were down to $470 billion, for a boost of 2% to GDP.


The second quarter of 2008 saw an anemic $9.5 billion. At that run rate, we could see a drop-off of over 90% from 2005! Now, think what the second quarter would have been without the federal stimulus program of $150 billion. It might have looked and felt like this quarter!

The Economic Blue Screen of Death


RONNIE REAGAN/DUBYA BUSH AND GOP RUN DEBT ECONOMIES RUN OFF THE CREDIT CARD, NOTHING MORE!


Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."