Obama's flood the basement economy policies--dismal jobs report for May 2012.

[oreo]

Alarmed by an ominously weak U.S. jobs report, investors ran for safety Friday from new worries about a global slowdown, sending the Dow Jones industrial average to its biggest loss since November.

The nearly 275-point dive wiped out the last of the index's gains for the year.
Across Wall Street, fearful investors snapped up safer investments such as bonds, dragging the yield on the benchmark 10-year Treasury note to a record low. Gold spiked $50 an ounce, and oil fell to its lowest since October.

"The big worry now is that this economic slowdown is widening and accelerating," said Sam Stovall, chief equity strategist at S&P Capital IQ, a market research firm.
The Standard & Poor's 500 index and Nasdaq composite index both fell more than 2 percent. The Nasdaq has dropped more than 10 percent since its peak — what traders call a market correction. And the S&P 500 is just a point above correction territory.

American employers added just 69,000 jobs in May, the fewest in a year, and the unemployment rate increased to 8.2 percent from 8.1 percent. Economists had forecast a gain of 158,000 jobs.

The Associated Press: Dismal jobs report sends Dow into 275-point dive

Obama's flood the basement economic polices have turned into Obama's trickle up poverty. Again as we see jobs numbers are very weak and much less than expected--and at a time--the beginning of summer--when typically this is the time of the year when job growth is at it's strongest. Unemployment ROSE to 8.2% in May 2012.

 

[flacaltenn]

Obama - still holding 87% of the US economy hostage through intimidation, inaction and uncertainty.
Jobs are the side-effect of the grosser incompetence and economic illiteracy..

BUT -- he's not solely to blame. Pelosi, Reid and all the other leftists are the REAL problem.

 

[rdean]

What Obama needs to do is make a clear difference between him and the Republicans.

Start with a bold package to rebuild American infrastructure, including our electrical grid, our sewers and our bridges.
Install broadband throughout the nation, especially in business areas.
Upgrade our airports and railways.
Fix our dams.
Convert our coal plants to natural gas.

Interest rates are near zero and the CBO says we could afford 200 billion for rebuilding and it would generate 5 million jobs. This would put money in peoples pockets. With a middle class with some buying power, business would hire because of "demand", the ONLY real job creator.

Create a drive towards more teachers, especially in technical fields.

This would offer a clear contrast between the "let him die" Republicans who want the same austerity that has devastated Europe. Don't just run against Mitt, run against the entire, odious, incompetent Republican Party.

See who America will pick.

 

[flacaltenn]

You sound worried RDean..