Obama Democrats and Historical Unemployment

[Sinatra]

Check out this graph - what you see here is a look at the median duration of unemployed. At no time in the last 50 years have so many been unemployed for so long. Clearly President Obama and the Democrat Congress have only worsened the stagnant American economy with their ridiculous Big Government special interest "stimulus" programs.
_____

Here is what The Atlantic has to say about this graph...

The Scariest Unemployment Graph I've Seen Yet

The median duration of unemployment is higher today than any time in the last 50 years. That's an understatement. It is more than twice as high today than any time in the last 50 years.

http://www.theatlantic.com/business...ariest-unemployment-graph-ive-seen-yet/60086/
_____

 

[Sinatra]

Another point of interest is the quite dramatic decline in the same type of unemployment that followed the Reagan Administration's Supply Side policies of the early 1980s. Now THAT is an economic recovery. Not even the tech boom era of the Clinton-Republican Congress of the 1990s produced such substantial reductions of unemployment following a recession.

What America now appears to suffer from is the opposite of Reagan's Supply Side policies - an Obama administration and Democrat Congress who have initiated a HUGE expansion of government programs, ever increasing regulation, higher taxes, and a the most aggressive anti-business tone to come out of Washington DC in our lifetimes.

 

[topspin]

supply side would help a ton, but I fear globalization has permanently removed the non skilled jobs for those that are still unemployed.

 

[Sinatra]

supply side would help a ton, but I fear globalization has permanently removed the non skilled jobs for those that are still unemployed.

Supply side is what MUST be initiated post haste to get us out of this deep recession.

Trillions are sitting on the sidelines because business is running in fear of what is coming next.

Look at the tech boom - millions of jobs created that continue today - not only in the production, but the service industries. The tech boom was a direct result of the non invasive government stance initiated in the 1980s.

What we have today is the opposite - BIG GOVERNMENT statism initiated at a shocking scale has all but frozen the American economy - and the working class is suffering the most because of it...

 

[Gremlin-USA]

And why would business be afraid of hiring? Could it have anything to do with the fear of upcoming taxes, forced new regulations, HC mandates, anything like that?


.

 

[Sinatra]

And why would business be afraid of hiring? Could it have anything to do with the fear of upcoming taxes, forced new regulations, HC mandates, anything like that?


.

You are exactly right - another article today outlined a new "wrinkle" in the Obamacare plan - it would add 10 - 20 THOUSAND new tax forms to small businesses regarding any transaction over $600.

My God people - wake up and see what is being unfolded before you! These Obama Democrats are engaging in an all out war against American small business. There is no other way to see but as that...

 

[topspin]

If we actually deported illegals that graph would come down. How much of a chunk does adding 20 million legit jobs do.

 

[Toro]

supply side would help a ton, but I fear globalization has permanently removed the non skilled jobs for those that are still unemployed.

Supply side is what MUST be initiated post haste to get us out of this deep recession.

Trillions are sitting on the sidelines because business is running in fear of what is coming next.

Look at the tech boom - millions of jobs created that continue today - not only in the production, but the service industries. The tech boom was a direct result of the non invasive government stance initiated in the 1980s.

What we have today is the opposite - BIG GOVERNMENT statism initiated at a shocking scale has all but frozen the American economy - and the working class is suffering the most because of it...

Money is sitting on the sidelines because business fears what's coming next, but what the government is doing is only a minor part of it. Money is sitting on the sidelines because the economy is in the midst of a credit collapse induced deflation caused by excess capacity in the real economy and excess credit creation. Lowering tax rates will do little, as we've seen given that total tax cuts have been $163 billion since the stimulus was signed.

The differences between the early 80s and today are massive. Applying the same remedies and analogizing the two periods is like prescribing the same treatments for cancer and heart disease.

 

[Toro]

If we actually deported illegals that graph would come down. How much of a chunk does adding 20 million legit jobs do.

It would increase costs and squeeze profit margins, causing less employment in the industries in which the illegals were employed. It would also cause prices to rise.

That's not an endorsement. That's just the economics.

 

[Big Fitz]

We are left with two possiblities.

1. The government is incompetent at a level never before seen in history from congress to the President and possibly the SCOTUS. They never knew what they were doing, hoping to just coast on campaign rhetoric and having no real experience in running anything of importance are incapable of doing the right thing for they are blinded by their ideology that just has no skin in the reality game.

OR

2. The administration and congress are doing precisely what they desire in an effort to destroy this nation, create enough anarchy and chaos in which people will gladly give up the constitution to their fascist government to follow where they will have power in perpetuity, and are hoping that the big lie and people's disbelief on such an awesomely horrible plan is being undertaken.

 

[topspin]

If we actually deported illegals that graph would come down. How much of a chunk does adding 20 million legit jobs do.

It would increase costs and squeeze profit margins, causing less employment in the industries in which the illegals were employed. It would also cause prices to rise.

That's not an endorsement. That's just the economics.

It would increase incomes and spending. I say long term gains are better without illegals.

 

[Dark Starscream]

Check out this graph - what you see here is a look at the median duration of unemployed. At no time in the last 50 years have so many been unemployed for so long. Clearly President Obama and the Democrat Congress have only worsened the stagnant American economy with their ridiculous Big Government special interest "stimulus" programs.
_____

Here is what The Atlantic has to say about this graph...

The Scariest Unemployment Graph I've Seen Yet

The median duration of unemployment is higher today than any time in the last 50 years. That's an understatement. It is more than twice as high today than any time in the last 50 years.

The Scariest Unemployment Graph I've Seen Yet - Business - The Atlantic
_____

I think you have quickly forgotten that it was under Republican leadership and de-regulation that caused a GLOBAL ECONOMIC MELTDOWN. When companies like Lehman Bros. and Circuit City close their doors forever, you can't replace those jobs in a year. How many years did it take Circuit City to get that big? Much longer than the year-and-a-half Obama's Economic Recovery Act has been in place, which DID help the economy... jobs take much longer to get back. I mean, here's a list of just bank closures and bank job losses in 2007:

1st National - Arizona-based Alt-A wholesale lender cuts 212 employees
Aegis Funding – closed, seeking bankruptcy protection
Accredited – buyout from Lone Star in jeopardy
ACC Capital Holdings – mass layoffs at parent of Ameriquest
Acoustic Home Loans – closed subprime wholesale lender
ACT Mortgage Capital – suspended all submissions/fundings until further notice
Alliance Bancorp – closed
Alterna Mortgage – closed
Alternative Financing Corp. – wholesale division closed
American Home Mortgage – closed
Ameriquest – laid off 3,800, closed 229 retail branches after $325 million settlement
Amstar Mortgage Corp. – most of staff at corp. headquarters in Houston being laid off
Argent – for sale
Aurora Loan Services – layoffs at this Lehman Brothers lender
Axix Mortgage – closed
Bank of America – Countrywide merger possibility, continued layoffs
Bear Stearns – closed two hedge funds after huge subprime losses, 240 subprime layoffs
Blackstone Group – buying PHH Mortgage
BNC Mortgage LLC – layoffs, consolidated with Aurora Loan Services
Broad Street Mortgage – sold to Wausau Mortgage Corp.
Calusa Investments – website down, thought to be closed
Capital One Mortgage – 2,000 layoffs planned nationwide
Central Pacific Mortgage – closed, TMSF cancels deal to acquire company
Charter Funding – believed to be closed by parent First Magnus Financial
Chevy Chase – cuts correspondent channel
Choice Capital Funding – rumored to be closed
CIT Group Inc. – exiting residential mortgage lending
Citadel – buying ResMAE
Citigroup – bought ABN AMRO Mortgage Group, mulling acquisition of Argent Mortgage
Clear Choice Financial – in default, Bankruptcy possible
CMXL – acquires All Fund
Columbia Home Loans – subprime lender closed
Concorde Acceptance – rumored to be closed
CoreStar Financial Group – closed
Countrywide – layoffs in subprime , may be bought out by Bank of America
Dana Capital – closed
DB Home Lending – rumors are stirring
DeepGreen Financial - closed
Decision One – closed six regional centers
Deutsche Bank Correspondent Lending Group – consolidating business to MortgageIT
Ditech – 181 layoffs
Dollar Mortgage Corp. – being acquired by Shearson Financial Network
Domestic Bank – shutting down wholesale unit
E-loan – closed sub-prime wholesale division
ECC Capital/Encore Credit – sold to Bear Stearns, 100 layoffs announced Aug. 17
Entrust Mortgage – closed
Equibanc – closed by Wachovia
Express Capital Lending – not accepting new submissions until further notice
Fannie Mae – hundreds of layoffs coming
FBR – selling subprime unit
Fieldstone Mortgage – closed Las Vegas branch
First Community Bancorp – layoffs
First Consolidated Mortgage Co. – subprime wholesaler shutting down, in dispute
First Indiana Wholesale – closed wholesale consumer lending operations
First Magnus – no longer funding or originating any mortgage loans
First NLC Financial Services LLC – 645 layoffs
First Source Funding Group – closed
First Street Financial – closed
Flexpoint Funding – reportedly closed wholesale division
Flick Mortgage – closed
FMF Capital LLC – closed
Freestand Financial – closed
Fremont General – exited secondary sub-prime market
FundingAmerica – not accepting any new business
General Electric – buying PHH Corporation
Golden Empire Mortgage (GEM Capital) – closed
Great Southwest Mortgage – believed to be closed by parent First Magnus Financial
Greenpoint Mortgage – closed, 1900 employees laid off, 31 branches closed
Guaranty Residential – layoffs
H&R Block Mortgage Corp. – layoffs
Heartwell Mortgage – closed
Heritage Plaza Mortgage – closed
HMIC – closed
Home 123 Mortgage – closed
HomeBanc Mortgage Corp. – closed
Home Capital Inc. – closes
Home Equity of America – layoffs
Homefield Financial – closed
Homeland Capital Group – subprime wholesaler closed
Home Loan Center Inc. / Lending Tree – layoffs
Homeview Lending Inc. – layoffs, now appears to be closed
HSBC Mortgage Services (Correspondent division) – closed, layoffs
Huntington Financial – to be acquired by Oxford Funding
Impac Mortgage Holdings – layoffs, halted Alt-A loan production
Indymac – bought retail arm of New York Mortgage Trust, layoffs
Innovative Mortgage Capital – closed
Investaid Corp. – suspended operations indefinitely
Ivanhoe Mortgage – closed
KBC Bank NV (Belgium) – buying Vertical Lend
KKR Financial Holdings –no longer intends to invest in residential real estate
Lancaster Mortgage Bankers – closed
Lender’s Direct Capital Corporation – closed wholesale lending operations
Lending group Inc. – suspended operations
LendingTree – 20% of workforce laid off (fresh ones on Aug. 17)
Loancity – closed 7 branches, shut down
Loans 123 – no longer taking anymore business
Lone Star – facing lawsuit over purchase of Accredited Home Lenders
LowerMyPayment.com – closed, mortgage lead company
Luminent Mortgage – two default notices, selling equity stake to Arco Capital Corp.
Mandalay Mortgage – closed
Maribella Mortgage – closed
Master Financial – layoffs, ceased wholesale production
Mercantile Mortgage – seized operations
Metrocities Mortgage – layoffs
MGIC – bought rival mortgage insurance provider Radian Group (pending)
Mortgage Investment Lending Associates (MILA) – subprime wholesale lender shuts down
Millenium Bankshares – closed mortgage division
Millenium Funding Group – closed
MLSG – halted lending operation
Monarch Bank – buying mortgage-related assets from Resource Bank
Mortgage Investment Lending Associates – closed
Mortgage Lenders Network – stopped residential loan production
Mylor Financial – closed
National Home Equity – consolidated by National City Corp., suspended originations, layoffs
Nationpoint – a subsidiary of Merill Lynch laid off 60 people on August 15, 2007
Nation One Mortgage C0. Inc. – wholesale lender stopped origination and funding of mortgages
Nationstar – acquired Champion Mortgage
Netbank Funding – closed
New Century – filed bankruptcy
No Red Tape Mortgage – parent company Metrocities closed wholesale division
Northern Rock (UK) – issued profit warning
Novastar – closed wholesale unit, facing potentially huge lawsuit, laying off 37% of workforce
Oak Street Mortgage – closed, files bankruptcy
Opteum – closed conduit and wholesale operations
Option One Mortgage Corp. – layoffs, pending sale to Cerberus Capital Management LP
Own It Mortgage – closed
Oxford Funding – acquiring Huntington Financial
Pacific American Mortgage (PAMCO) – no new submissions, halted operations
People’s Choice Financial Corp. – bankrupt
People’s Mortgage – closed
Popular Financial Holdings - exited the wholesale sub-prime mortgage market
Premier Mortgage Funding, Inc – filed for bankruptcy
Quick Loan Funding – layoffs, now reported closed
QuoteMeARate.com Inc. - closed
RAMS Home Loans (Australia) – warned of profit losses after only two weeks on stock market
Residential Capital LLC – cutting roughly 1,000 jobs (GMAC company)
ResMae – layoffs, bankrupt/for sale
Resource Bank – selling mortgage-related assets to Monarch Bank
Right Away Mortgage – closed
RFC – layoffs
Rose Mortgage Corp. – closed
Saxon – layoffs
Scottish RE – large subprime exposure drops stock into dangerzone
Sea Breeze Mortgage Services, Inc. – Irvine, CA office phone disconnected, rumors of closure
Sebring Capital Partners – closed
Secured Funding – closed
Shearson Financial Network – to acquire Dollar Mortgage Corp.
Silver State Mortgage – closed
Solutions Funding – closed
Southstar Funding – closed
Sovereign Bancorp – exited wholesale market
Spectrum Financial Group – stopped funding loans, halted operations
Starpointe Mortgage – closed
Steward Financial – closed
Stone Creek Funding – closed
SouthStar Funding – closed
Summit Mortgage – closed
The Mortgage Warehouse – closed
Thornburg Mortgage – 5 downgrades, need to sell some assets to stay afloat, denied BK
Trojan Lending – ceased wholesale production
Trump Mortgage – closing
Unlimited Loan Resources – closed
Velocity Commercial Capital, LLC – layoffs reported, still breaking
Wachovia – closed Equibanc, layoffs
Warehouse USA – closed
Washington Mutual – layoffs, exited correspondent market
Wells Fargo Alternative Lending Wholesale – closed, layoffs nationwide
Winstar Mortgage – ceased operations
WMC – GE’s subprime unit cut 460 jobs

And that list would be much, much bigger if the WH had not given financial assistance. So sit down and let the big boys do the talking. Obama's policies pulled us from the brink of the next Great Depression. Show some respect.

 

[Gremlin-USA]

Check out this graph - what you see here is a look at the median duration of unemployed. At no time in the last 50 years have so many been unemployed for so long. Clearly President Obama and the Democrat Congress have only worsened the stagnant American economy with their ridiculous Big Government special interest "stimulus" programs.
_____

Here is what The Atlantic has to say about this graph...

The Scariest Unemployment Graph I've Seen Yet

The median duration of unemployment is higher today than any time in the last 50 years. That's an understatement. It is more than twice as high today than any time in the last 50 years.

The Scariest Unemployment Graph I've Seen Yet - Business - The Atlantic
_____

I think you have quickly forgotten that it was under Republican leadership and de-regulation that caused a GLOBAL ECONOMIC MELTDOWN. When companies like Lehman Bros. and Circuit City close their doors forever, you can't replace those jobs in a year. How many years did it take Circuit City to get that big? Much longer than the year-and-a-half Obama's Economic Recovery Act has been in place, which DID help the economy... jobs take much longer to get back. I mean, here's a list of just banks lost forever in 2007:

1st National - Arizona-based Alt-A wholesale lender cuts 212 employees
Aegis Funding – closed, seeking bankruptcy protection
Accredited – buyout from Lone Star in jeopardy
ACC Capital Holdings – mass layoffs at parent of Ameriquest
Acoustic Home Loans – closed subprime wholesale lender
ACT Mortgage Capital – suspended all submissions/fundings until further notice
Alliance Bancorp – closed
Alterna Mortgage – closed
Alternative Financing Corp. – wholesale division closed
American Home Mortgage – closed
Ameriquest – laid off 3,800, closed 229 retail branches after $325 million settlement
Amstar Mortgage Corp. – most of staff at corp. headquarters in Houston being laid off
Argent – for sale
Aurora Loan Services – layoffs at this Lehman Brothers lender
Axix Mortgage – closed
Bank of America – Countrywide merger possibility, continued layoffs
Bear Stearns – closed two hedge funds after huge subprime losses, 240 subprime layoffs
Blackstone Group – buying PHH Mortgage
BNC Mortgage LLC – layoffs, consolidated with Aurora Loan Services
Broad Street Mortgage – sold to Wausau Mortgage Corp.
Calusa Investments – website down, thought to be closed
Capital One Mortgage – 2,000 layoffs planned nationwide
Central Pacific Mortgage – closed, TMSF cancels deal to acquire company
Charter Funding – believed to be closed by parent First Magnus Financial
Chevy Chase – cuts correspondent channel
Choice Capital Funding – rumored to be closed
CIT Group Inc. – exiting residential mortgage lending
Citadel – buying ResMAE
Citigroup – bought ABN AMRO Mortgage Group, mulling acquisition of Argent Mortgage
Clear Choice Financial – in default, Bankruptcy possible
CMXL – acquires All Fund
Columbia Home Loans – subprime lender closed
Concorde Acceptance – rumored to be closed
CoreStar Financial Group – closed
Countrywide – layoffs in subprime , may be bought out by Bank of America
Dana Capital – closed
DB Home Lending – rumors are stirring
DeepGreen Financial - closed
Decision One – closed six regional centers
Deutsche Bank Correspondent Lending Group – consolidating business to MortgageIT
Ditech – 181 layoffs
Dollar Mortgage Corp. – being acquired by Shearson Financial Network
Domestic Bank – shutting down wholesale unit
E-loan – closed sub-prime wholesale division
ECC Capital/Encore Credit – sold to Bear Stearns, 100 layoffs announced Aug. 17
Entrust Mortgage – closed
Equibanc – closed by Wachovia
Express Capital Lending – not accepting new submissions until further notice
Fannie Mae – hundreds of layoffs coming
FBR – selling subprime unit
Fieldstone Mortgage – closed Las Vegas branch
First Community Bancorp – layoffs
First Consolidated Mortgage Co. – subprime wholesaler shutting down, in dispute
First Indiana Wholesale – closed wholesale consumer lending operations
First Magnus – no longer funding or originating any mortgage loans
First NLC Financial Services LLC – 645 layoffs
First Source Funding Group – closed
First Street Financial – closed
Flexpoint Funding – reportedly closed wholesale division
Flick Mortgage – closed
FMF Capital LLC – closed
Freestand Financial – closed
Fremont General – exited secondary sub-prime market
FundingAmerica – not accepting any new business
General Electric – buying PHH Corporation
Golden Empire Mortgage (GEM Capital) – closed
Great Southwest Mortgage – believed to be closed by parent First Magnus Financial
Greenpoint Mortgage – closed, 1900 employees laid off, 31 branches closed
Guaranty Residential – layoffs
H&R Block Mortgage Corp. – layoffs
Heartwell Mortgage – closed
Heritage Plaza Mortgage – closed
HMIC – closed
Home 123 Mortgage – closed
HomeBanc Mortgage Corp. – closed
Home Capital Inc. – closes
Home Equity of America – layoffs
Homefield Financial – closed
Homeland Capital Group – subprime wholesaler closed
Home Loan Center Inc. / Lending Tree – layoffs
Homeview Lending Inc. – layoffs, now appears to be closed
HSBC Mortgage Services (Correspondent division) – closed, layoffs
Huntington Financial – to be acquired by Oxford Funding
Impac Mortgage Holdings – layoffs, halted Alt-A loan production
Indymac – bought retail arm of New York Mortgage Trust, layoffs
Innovative Mortgage Capital – closed
Investaid Corp. – suspended operations indefinitely
Ivanhoe Mortgage – closed
KBC Bank NV (Belgium) – buying Vertical Lend
KKR Financial Holdings –no longer intends to invest in residential real estate
Lancaster Mortgage Bankers – closed
Lender’s Direct Capital Corporation – closed wholesale lending operations
Lending group Inc. – suspended operations
LendingTree – 20% of workforce laid off (fresh ones on Aug. 17)
Loancity – closed 7 branches, shut down
Loans 123 – no longer taking anymore business
Lone Star – facing lawsuit over purchase of Accredited Home Lenders
LowerMyPayment.com – closed, mortgage lead company
Luminent Mortgage – two default notices, selling equity stake to Arco Capital Corp.
Mandalay Mortgage – closed
Maribella Mortgage – closed
Master Financial – layoffs, ceased wholesale production
Mercantile Mortgage – seized operations
Metrocities Mortgage – layoffs
MGIC – bought rival mortgage insurance provider Radian Group (pending)
Mortgage Investment Lending Associates (MILA) – subprime wholesale lender shuts down
Millenium Bankshares – closed mortgage division
Millenium Funding Group – closed
MLSG – halted lending operation
Monarch Bank – buying mortgage-related assets from Resource Bank
Mortgage Investment Lending Associates – closed
Mortgage Lenders Network – stopped residential loan production
Mylor Financial – closed
National Home Equity – consolidated by National City Corp., suspended originations, layoffs
Nationpoint – a subsidiary of Merill Lynch laid off 60 people on August 15, 2007
Nation One Mortgage C0. Inc. – wholesale lender stopped origination and funding of mortgages
Nationstar – acquired Champion Mortgage
Netbank Funding – closed
New Century – filed bankruptcy
No Red Tape Mortgage – parent company Metrocities closed wholesale division
Northern Rock (UK) – issued profit warning
Novastar – closed wholesale unit, facing potentially huge lawsuit, laying off 37% of workforce
Oak Street Mortgage – closed, files bankruptcy
Opteum – closed conduit and wholesale operations
Option One Mortgage Corp. – layoffs, pending sale to Cerberus Capital Management LP
Own It Mortgage – closed
Oxford Funding – acquiring Huntington Financial
Pacific American Mortgage (PAMCO) – no new submissions, halted operations
People’s Choice Financial Corp. – bankrupt
People’s Mortgage – closed
Popular Financial Holdings - exited the wholesale sub-prime mortgage market
Premier Mortgage Funding, Inc – filed for bankruptcy
Quick Loan Funding – layoffs, now reported closed
QuoteMeARate.com Inc. - closed
RAMS Home Loans (Australia) – warned of profit losses after only two weeks on stock market
Residential Capital LLC – cutting roughly 1,000 jobs (GMAC company)
ResMae – layoffs, bankrupt/for sale
Resource Bank – selling mortgage-related assets to Monarch Bank
Right Away Mortgage – closed
RFC – layoffs
Rose Mortgage Corp. – closed
Saxon – layoffs
Scottish RE – large subprime exposure drops stock into dangerzone
Sea Breeze Mortgage Services, Inc. – Irvine, CA office phone disconnected, rumors of closure
Sebring Capital Partners – closed
Secured Funding – closed
Shearson Financial Network – to acquire Dollar Mortgage Corp.
Silver State Mortgage – closed
Solutions Funding – closed
Southstar Funding – closed
Sovereign Bancorp – exited wholesale market
Spectrum Financial Group – stopped funding loans, halted operations
Starpointe Mortgage – closed
Steward Financial – closed
Stone Creek Funding – closed
SouthStar Funding – closed
Summit Mortgage – closed
The Mortgage Warehouse – closed
Thornburg Mortgage – 5 downgrades, need to sell some assets to stay afloat, denied BK
Trojan Lending – ceased wholesale production
Trump Mortgage – closing
Unlimited Loan Resources – closed
Velocity Commercial Capital, LLC – layoffs reported, still breaking
Wachovia – closed Equibanc, layoffs
Warehouse USA – closed
Washington Mutual – layoffs, exited correspondent market
Wells Fargo Alternative Lending Wholesale – closed, layoffs nationwide
Winstar Mortgage – ceased operations
WMC – GE’s subprime unit cut 460 jobs

And that list would be much, much bigger if the WH had not given financial assistance. So sit down and let the big boys do the talking. Obama's policies pulled us from the brink of the next Great Depression. Show some respect.

75% of those places were making sub-prime loans, no-doc loans and under the table loans to anyone that walked in the door, someone with a brain would know they could not afford to pay them back, those people invloved with making those loans needed to loose their job and Bo was an asswipe for trying to bail out any predatory company like those.

Show some respect for me and the other taxpayers who are shelling out good money after bad.

This thread I did not think was about the 10,000 or so irresponsible bankers and mortgage lenders that deserved to loos their jobs, I thought this thread was about the fact that BO Asswipe cannot get his Crapping Laser Beam Working and get 20 million long term un-employed people a dam job.

.

 

[Dark Starscream]

Check out this graph - what you see here is a look at the median duration of unemployed. At no time in the last 50 years have so many been unemployed for so long. Clearly President Obama and the Democrat Congress have only worsened the stagnant American economy with their ridiculous Big Government special interest "stimulus" programs.
_____

Here is what The Atlantic has to say about this graph...

The Scariest Unemployment Graph I've Seen Yet

The median duration of unemployment is higher today than any time in the last 50 years. That's an understatement. It is more than twice as high today than any time in the last 50 years.

The Scariest Unemployment Graph I've Seen Yet - Business - The Atlantic
_____

I think you have quickly forgotten that it was under Republican leadership and de-regulation that caused a GLOBAL ECONOMIC MELTDOWN. When companies like Lehman Bros. and Circuit City close their doors forever, you can't replace those jobs in a year. How many years did it take Circuit City to get that big? Much longer than the year-and-a-half Obama's Economic Recovery Act has been in place, which DID help the economy... jobs take much longer to get back. I mean, here's a list of just banks lost forever in 2007:

1st National - Arizona-based Alt-A wholesale lender cuts 212 employees
Aegis Funding – closed, seeking bankruptcy protection
Accredited – buyout from Lone Star in jeopardy
ACC Capital Holdings – mass layoffs at parent of Ameriquest
Acoustic Home Loans – closed subprime wholesale lender
ACT Mortgage Capital – suspended all submissions/fundings until further notice
Alliance Bancorp – closed
Alterna Mortgage – closed
Alternative Financing Corp. – wholesale division closed
American Home Mortgage – closed
Ameriquest – laid off 3,800, closed 229 retail branches after $325 million settlement
Amstar Mortgage Corp. – most of staff at corp. headquarters in Houston being laid off
Argent – for sale
Aurora Loan Services – layoffs at this Lehman Brothers lender
Axix Mortgage – closed
Bank of America – Countrywide merger possibility, continued layoffs
Bear Stearns – closed two hedge funds after huge subprime losses, 240 subprime layoffs
Blackstone Group – buying PHH Mortgage
BNC Mortgage LLC – layoffs, consolidated with Aurora Loan Services
Broad Street Mortgage – sold to Wausau Mortgage Corp.
Calusa Investments – website down, thought to be closed
Capital One Mortgage – 2,000 layoffs planned nationwide
Central Pacific Mortgage – closed, TMSF cancels deal to acquire company
Charter Funding – believed to be closed by parent First Magnus Financial
Chevy Chase – cuts correspondent channel
Choice Capital Funding – rumored to be closed
CIT Group Inc. – exiting residential mortgage lending
Citadel – buying ResMAE
Citigroup – bought ABN AMRO Mortgage Group, mulling acquisition of Argent Mortgage
Clear Choice Financial – in default, Bankruptcy possible
CMXL – acquires All Fund
Columbia Home Loans – subprime lender closed
Concorde Acceptance – rumored to be closed
CoreStar Financial Group – closed
Countrywide – layoffs in subprime , may be bought out by Bank of America
Dana Capital – closed
DB Home Lending – rumors are stirring
DeepGreen Financial - closed
Decision One – closed six regional centers
Deutsche Bank Correspondent Lending Group – consolidating business to MortgageIT
Ditech – 181 layoffs
Dollar Mortgage Corp. – being acquired by Shearson Financial Network
Domestic Bank – shutting down wholesale unit
E-loan – closed sub-prime wholesale division
ECC Capital/Encore Credit – sold to Bear Stearns, 100 layoffs announced Aug. 17
Entrust Mortgage – closed
Equibanc – closed by Wachovia
Express Capital Lending – not accepting new submissions until further notice
Fannie Mae – hundreds of layoffs coming
FBR – selling subprime unit
Fieldstone Mortgage – closed Las Vegas branch
First Community Bancorp – layoffs
First Consolidated Mortgage Co. – subprime wholesaler shutting down, in dispute
First Indiana Wholesale – closed wholesale consumer lending operations
First Magnus – no longer funding or originating any mortgage loans
First NLC Financial Services LLC – 645 layoffs
First Source Funding Group – closed
First Street Financial – closed
Flexpoint Funding – reportedly closed wholesale division
Flick Mortgage – closed
FMF Capital LLC – closed
Freestand Financial – closed
Fremont General – exited secondary sub-prime market
FundingAmerica – not accepting any new business
General Electric – buying PHH Corporation
Golden Empire Mortgage (GEM Capital) – closed
Great Southwest Mortgage – believed to be closed by parent First Magnus Financial
Greenpoint Mortgage – closed, 1900 employees laid off, 31 branches closed
Guaranty Residential – layoffs
H&R Block Mortgage Corp. – layoffs
Heartwell Mortgage – closed
Heritage Plaza Mortgage – closed
HMIC – closed
Home 123 Mortgage – closed
HomeBanc Mortgage Corp. – closed
Home Capital Inc. – closes
Home Equity of America – layoffs
Homefield Financial – closed
Homeland Capital Group – subprime wholesaler closed
Home Loan Center Inc. / Lending Tree – layoffs
Homeview Lending Inc. – layoffs, now appears to be closed
HSBC Mortgage Services (Correspondent division) – closed, layoffs
Huntington Financial – to be acquired by Oxford Funding
Impac Mortgage Holdings – layoffs, halted Alt-A loan production
Indymac – bought retail arm of New York Mortgage Trust, layoffs
Innovative Mortgage Capital – closed
Investaid Corp. – suspended operations indefinitely
Ivanhoe Mortgage – closed
KBC Bank NV (Belgium) – buying Vertical Lend
KKR Financial Holdings –no longer intends to invest in residential real estate
Lancaster Mortgage Bankers – closed
Lender’s Direct Capital Corporation – closed wholesale lending operations
Lending group Inc. – suspended operations
LendingTree – 20% of workforce laid off (fresh ones on Aug. 17)
Loancity – closed 7 branches, shut down
Loans 123 – no longer taking anymore business
Lone Star – facing lawsuit over purchase of Accredited Home Lenders
LowerMyPayment.com – closed, mortgage lead company
Luminent Mortgage – two default notices, selling equity stake to Arco Capital Corp.
Mandalay Mortgage – closed
Maribella Mortgage – closed
Master Financial – layoffs, ceased wholesale production
Mercantile Mortgage – seized operations
Metrocities Mortgage – layoffs
MGIC – bought rival mortgage insurance provider Radian Group (pending)
Mortgage Investment Lending Associates (MILA) – subprime wholesale lender shuts down
Millenium Bankshares – closed mortgage division
Millenium Funding Group – closed
MLSG – halted lending operation
Monarch Bank – buying mortgage-related assets from Resource Bank
Mortgage Investment Lending Associates – closed
Mortgage Lenders Network – stopped residential loan production
Mylor Financial – closed
National Home Equity – consolidated by National City Corp., suspended originations, layoffs
Nationpoint – a subsidiary of Merill Lynch laid off 60 people on August 15, 2007
Nation One Mortgage C0. Inc. – wholesale lender stopped origination and funding of mortgages
Nationstar – acquired Champion Mortgage
Netbank Funding – closed
New Century – filed bankruptcy
No Red Tape Mortgage – parent company Metrocities closed wholesale division
Northern Rock (UK) – issued profit warning
Novastar – closed wholesale unit, facing potentially huge lawsuit, laying off 37% of workforce
Oak Street Mortgage – closed, files bankruptcy
Opteum – closed conduit and wholesale operations
Option One Mortgage Corp. – layoffs, pending sale to Cerberus Capital Management LP
Own It Mortgage – closed
Oxford Funding – acquiring Huntington Financial
Pacific American Mortgage (PAMCO) – no new submissions, halted operations
People’s Choice Financial Corp. – bankrupt
People’s Mortgage – closed
Popular Financial Holdings - exited the wholesale sub-prime mortgage market
Premier Mortgage Funding, Inc – filed for bankruptcy
Quick Loan Funding – layoffs, now reported closed
QuoteMeARate.com Inc. - closed
RAMS Home Loans (Australia) – warned of profit losses after only two weeks on stock market
Residential Capital LLC – cutting roughly 1,000 jobs (GMAC company)
ResMae – layoffs, bankrupt/for sale
Resource Bank – selling mortgage-related assets to Monarch Bank
Right Away Mortgage – closed
RFC – layoffs
Rose Mortgage Corp. – closed
Saxon – layoffs
Scottish RE – large subprime exposure drops stock into dangerzone
Sea Breeze Mortgage Services, Inc. – Irvine, CA office phone disconnected, rumors of closure
Sebring Capital Partners – closed
Secured Funding – closed
Shearson Financial Network – to acquire Dollar Mortgage Corp.
Silver State Mortgage – closed
Solutions Funding – closed
Southstar Funding – closed
Sovereign Bancorp – exited wholesale market
Spectrum Financial Group – stopped funding loans, halted operations
Starpointe Mortgage – closed
Steward Financial – closed
Stone Creek Funding – closed
SouthStar Funding – closed
Summit Mortgage – closed
The Mortgage Warehouse – closed
Thornburg Mortgage – 5 downgrades, need to sell some assets to stay afloat, denied BK
Trojan Lending – ceased wholesale production
Trump Mortgage – closing
Unlimited Loan Resources – closed
Velocity Commercial Capital, LLC – layoffs reported, still breaking
Wachovia – closed Equibanc, layoffs
Warehouse USA – closed
Washington Mutual – layoffs, exited correspondent market
Wells Fargo Alternative Lending Wholesale – closed, layoffs nationwide
Winstar Mortgage – ceased operations
WMC – GE’s subprime unit cut 460 jobs

And that list would be much, much bigger if the WH had not given financial assistance. So sit down and let the big boys do the talking. Obama's policies pulled us from the brink of the next Great Depression. Show some respect.

75% of those places were making sub-prime loans, no-doc loans and under the table loans to anyone that walked in the door, someone with a brain would know they could not afford to pay them back, those people invloved with making those loans needed to loose their job and Bo was an asswipe for trying to bail out any predatory company like those.

Show some respect for me and the other taxpayers who are shelling out good money after bad.

This thread I did not think was about the 10,000 or so irresponsible bankers and mortgage lenders that deserved to loos their jobs, I thought this thread was about the fact that BO Asswipe cannot get his Crapping Laser Beam Working and get 20 million long term un-employed people a dam job.

.

So I'm sure you are very thankful that Obama and the dems just passed financial reform that says that taxpayers will never have to bail out wallstreet again. TEA partiers should be ecstatic. But you won't hear that. Isn't it interesting that the TEA parties were conspicuously silent while the deficit ballooned and national debt doubled under Bush?

4.3 million small businesses closed during the last recession.

Do you realize that many companies, big and small, DEPEND on banks being solvent so that they can get loans to continue functioning and paying employees, ESPECIALLY in trying economic times? The best minds on the planet are on the job trying to fix this mess. Bernanke was Time magazine's Man of the Year. Republicans obviously don't want Obama to succeed, even saying as much, because if what Obama does works, then they look stupid. So they're doing everything they can to convince the uneducated, bigoted masses that ANYTHING Obama wants to do is bad (unless its wars, Repubs loves their wars, guns, and Gawd). Even with Obama victories, like passing SCHIP, Republican politicians try to convince it is a bad thing.

I really, really, REALLY don't understand how Republicans can see how the Bush-era policies nearly destroyed America, Obama's pulled us back from the brink... so naturally we need more Republicans in office. Do me a favor: study the economic history of the US. The economy does better under Democrat Presidents than Republican ones. This isn't spin, it's FACT... and yes, even the rich do better, too.

 

[Zona]

the unemployment rate under Reagan went from 7.6% to 9.7-9.8%.

Dispute this rightys, dispute it hard. lol

 

[Sinatra]

Check out this graph - what you see here is a look at the median duration of unemployed. At no time in the last 50 years have so many been unemployed for so long. Clearly President Obama and the Democrat Congress have only worsened the stagnant American economy with their ridiculous Big Government special interest "stimulus" programs.
_____

Here is what The Atlantic has to say about this graph...

The Scariest Unemployment Graph I've Seen Yet

The median duration of unemployment is higher today than any time in the last 50 years. That's an understatement. It is more than twice as high today than any time in the last 50 years.

The Scariest Unemployment Graph I've Seen Yet - Business - The Atlantic
_____

The graph is worth repeating - at no time in the last 50 years have so many been unemployed for so long.

The Obama Democrats appear incapable of righting America's economic ship - and much evidence appears to suggest they are worsening its sinking...

 

[The Rabbi]

supply side would help a ton, but I fear globalization has permanently removed the non skilled jobs for those that are still unemployed.

Supply side is what MUST be initiated post haste to get us out of this deep recession.

Trillions are sitting on the sidelines because business is running in fear of what is coming next.

Look at the tech boom - millions of jobs created that continue today - not only in the production, but the service industries. The tech boom was a direct result of the non invasive government stance initiated in the 1980s.

What we have today is the opposite - BIG GOVERNMENT statism initiated at a shocking scale has all but frozen the American economy - and the working class is suffering the most because of it...

Money is sitting on the sidelines because business fears what's coming next, but what the government is doing is only a minor part of it. Money is sitting on the sidelines because the economy is in the midst of a credit collapse induced deflation caused by excess capacity in the real economy and excess credit creation. Lowering tax rates will do little, as we've seen given that total tax cuts have been $163 billion since the stimulus was signed.

The differences between the early 80s and today are massive. Applying the same remedies and analogizing the two periods is like prescribing the same treatments for cancer and heart disease.

You're confusing cause and effect. There is a credit collapse because business is not borrowing. They are not borrowing because they are not expanding. They are not expanding because they cannot predict the future with any certainty at all. They cannot calculate how much an extra worker will cost them. They cannot calculate their future tax liability. They cannot fathom the future regulatory environment. There was a survey of CEOs done and that was their conclusion.
You are also confusing "total tax cuts" with marginal tax cuts, the kinds that actually change behavior. No one is going to run out and buy a car because of cash for clunkers. All that did was shove demand into that period. Same with the housing credits. All those people were going to buy a house or car anyway. Once they did so, that was it. There was no tax cut that changed behavior.

 

[The Rabbi]

As for that stunning graph, this is what happens when you give an incentive to be unemployed. Keep extending benefits, you keep extending the unemployment period.
Just today a customer who works at a bar told me has a lot of guys collecting checks and drinking them. They take under the table cash jobs to supplement it. As a result they arent looking for work, despite the availability of jobs.

 

[Gremlin-USA]

So I'm sure you are very thankful that Obama and the dems just passed financial reform that says that taxpayers will never have to bail out wallstreet again. TEA partiers should be ecstatic. But you won't hear that. Isn't it interesting that the TEA parties were conspicuously silent while the deficit ballooned and national debt doubled under Bush?

4.3 million small businesses closed during the last recession.

Do you realize that many companies, big and small, DEPEND on banks being solvent so that they can get loans to continue functioning and paying employees, ESPECIALLY in trying economic times? The best minds on the planet are on the job trying to fix this mess. Bernanke was Time magazine's Man of the Year. Republicans obviously don't want Obama to succeed, even saying as much, because if what Obama does works, then they look stupid. So they're doing everything they can to convince the uneducated, bigoted masses that ANYTHING Obama wants to do is bad (unless its wars, Repubs loves their wars, guns, and Gawd). Even with Obama victories, like passing SCHIP, Republican politicians try to convince it is a bad thing.

I really, really, REALLY don't understand how Republicans can see how the Bush-era policies nearly destroyed America, Obama's pulled us back from the brink... so naturally we need more Republicans in office. Do me a favor: study the economic history of the US. The economy does better under Democrat Presidents than Republican ones. This isn't spin, it's FACT... and yes, even the rich do better, too.

I would say if BO had anything to do with Financial Reform Bill I am not going to like it, I will admit that I have not read it, unlike the people who voted on it and the Blind Sheep who support it. I am sure there are a few things good in it.

Yes, I do realize we need Banks, but NO ONE needs the Crooks and Idiots who Caused this Dam Recession, so let the slime like you posted earlier fail.

The Statement " Republicans do not want BO to succeed", I believe is Asinine, I know I want BO to succeed, if he does not, our Country is F*****.


.

 

[Zona]

the unemployment rate under Reagan went from 7.6% to 9.7-9.8%.

Dispute this rightys, dispute it hard. lol

Um, I reapeat.

the unemployment rate under Reagan went from 7.6% to 9.7-9.8%.