Unemployment rate rises. Pathetic recovery stalls

[uscitizen]

We will be taking another economic step downward within the next 2 years.
or several small ones, not necessarially a big drop like before.
But we are not finished going downward.

 

[francoHFW]

I keep seeing progressives use that argument, RDD and it's rather ridiculous. When Barack Obama took office we were at the worst part of a rather severe economic downturn. Have things improved statistically since then? Well, of course. Recessions are always cyclical. The question isn't whether things are better but rather whether it is getting better as fast as it should and how much of that is due to THIS President's policies. We've been out of a recession for some time now but that does not by any stretch of the imagination mean that things are proceeding as they should. What that does mean is that we've had so many quarters of ANY economic growth and even glacially slow economic growth (which is what we've been experiencing) counts...hardly something to crow about.

The fact is...this economic downturn continues to grind along with no end in sight. We've had a huge number of people on long term unemployment and that isn't changing. At some point, the Obama Administration has to take responsibility for that. They don't have a plan in place to address the economy, RDD and that's almost criminal. I've asked this many time before and I'll ask it of you once again...why would someone re-elect a man to a second four year term who apparently ran out of ideas to fix the economy about two years into his first?

Great question. Because I honestly don't see any better ideas coming from Romney. If his solution is to further cut taxes for big business and the wealthy while increasing taxes on the poor or middle class than I'd rather stick with the guy who I at least can agree with on Social issues, since neither he nor Romney seem to be much different otherwise.

There is one HUGE difference between Obama and Romney that you haven't touched on, RDD and it's the one that had me supporting Romney early on...

Romney has a history of working across the aisle with Democrats to get things done...Obama on the other hand hasn't the faintest idea how to accomplish that feat. What difference does it make if you agree with Barry on Social issues when he's leading one of the most polarized governments we've ever had. Do you really want another four years of finger pointing and excuse making over why nothing is happening? That's what you get with a second Obama term...and you know I'm right.

Hilarious. Of course the problem is Pubs decided, AGAIN, to sabotage ANYTHING Obama would try. Dems are not "no compromise, un-American" (TIME) GOP.

Should Pubs be rewarded for putting us in this mess (WORLD DEPRESSION and dumbazz wars, huge growth of AlQaeda), and now paralyzing the gov't since 2/2010 (and they even lie about THAT)?

 

[Listening]

Great question. Because I honestly don't see any better ideas coming from Romney. If his solution is to further cut taxes for big business and the wealthy while increasing taxes on the poor or middle class than I'd rather stick with the guy who I at least can agree with on Social issues, since neither he nor Romney seem to be much different otherwise.

There is one HUGE difference between Obama and Romney that you haven't touched on, RDD and it's the one that had me supporting Romney early on...

Romney has a history of working across the aisle with Democrats to get things done...Obama on the other hand hasn't the faintest idea how to accomplish that feat. What difference does it make if you agree with Barry on Social issues when he's leading one of the most polarized governments we've ever had. Do you really want another four years of finger pointing and excuse making over why nothing is happening? That's what you get with a second Obama term...and you know I'm right.

Hilarious. Of course the problem is Pubs decided, AGAIN, to sabotage ANYTHING Obama would try. Dems are not "no compromise, un-American" (TIME) GOP.

Should Pubs be rewarded for putting us in this mess (WORLD DEPRESSION and dumbazz wars, huge growth of AlQaeda), and now paralyzing the gov't since 2/2010 (and they even lie about THAT)?

Waaaaaaaaaaaaaaaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

 

[francoHFW]

GOP=A-holes and dupes, in your case you got it covered. Congrats

 

[Bloodline]

Economy added just 69,000 jobs in May, unemployment rate rises to 8.2 percent


US Economy Added 69K Jobs in May, Fewest in a Year - ABC News


'The dismal jobs figures could fan fears that the economy is sputtering.'

Ya think?

So are you happy about this or something?

What's the matter?

Don't you love my country?

 

[RightWingFerret]

and who wrote up all the new regulations?

 

[iamwhatiseem]

We will be taking another economic step downward within the next 2 years.
or several small ones, not necessarially a big drop like before.
But we are not finished going downward.

The top 3 banks in America have $200 trillion in the derivative markets.
Can you say...there is not enough money in the world to bail them out when the casino closes the window?
The mortgage crises will look like we lost the neighborhood lemonade stand when this blows.

 

[uscitizen]

America is secondary to getting rid of Obama for many right wingers.

 

[Bloodline]

Economy added just 69,000 jobs in May, unemployment rate rises to 8.2 percent


US Economy Added 69K Jobs in May, Fewest in a Year - ABC News


'The dismal jobs figures could fan fears that the economy is sputtering.'

Ya think?

Were you equally jubilant about Americans out of work when unemployment figures peaked during the last Republican administration?

Whose side are you on anyway?

 

[uscitizen]

We will be taking another economic step downward within the next 2 years.
or several small ones, not necessarially a big drop like before.
But we are not finished going downward.

The top 3 banks in America have $200 trillion in the derivative markets.
Can you say...there is not enough money in the world to bail them out when the casino closes the window?
The mortgage crises will look like we lost the neighborhood lemonade stand when this blows.

Ahh well that is what happens when "profits" are based on pyrimid gambling schemes which is what they are.
A fragile house of cards indeed.

We need to get back to genuine investing in the USA.

 

[Bloodline]

We will be taking another economic step downward within the next 2 years.
or several small ones, not necessarially a big drop like before.
But we are not finished going downward.

The top 3 banks in America have $200 trillion in the derivative markets.
Can you say...there is not enough money in the world to bail them out when the casino closes the window?
The mortgage crises will look like we lost the neighborhood lemonade stand when this blows.

Agreed.

Our way of life is soon to be done.

That's why we're going to need a new system.

 

[iamwhatiseem]

We will be taking another economic step downward within the next 2 years.
or several small ones, not necessarially a big drop like before.
But we are not finished going downward.

The top 3 banks in America have $200 trillion in the derivative markets.
Can you say...there is not enough money in the world to bail them out when the casino closes the window?
The mortgage crises will look like we lost the neighborhood lemonade stand when this blows.

Ahh well that is what happens when "profits" are based on pyrimid gambling schemes which is what they are.
A fragile house of cards indeed.

We need to get back to genuine investing in the USA.

You and me both.
Anybody who still has money in the markets and is not a professional who makes a living doing it - is a fool. (includes 401k folks). You cannot win...your basically only providing the perks for the high rollers...you have no chance to make money long term in the markets any more. Your better off buying gold/utilities/real estate etc.

As for politics...does it really matter? We no longer live in a democratic representative republic...it has been a plutocracy for almost 40 years now.
If your not in the upper 20%...your supporting the upper 20%. There are no more conservatives or liberals in Washington. Just devoted, dutiful servants of New York who have different opinions.

 

[francoHFW]

200 trillion my AZZ! That's 15 years of GDP...

 

[Bloodline]

The top 3 banks in America have $200 trillion in the derivative markets.
Can you say...there is not enough money in the world to bail them out when the casino closes the window?
The mortgage crises will look like we lost the neighborhood lemonade stand when this blows.

Ahh well that is what happens when "profits" are based on pyrimid gambling schemes which is what they are.
A fragile house of cards indeed.

We need to get back to genuine investing in the USA.

You and me both.
Anybody who still has money in the markets and is not a professional who makes a living doing it - is a fool. (includes 401k folks). You cannot win...your basically only providing the perks for the high rollers...you have no chance to make money long term in the markets any more. Your better off buying gold/utilities/real estate etc.

As for politics...does it really matter? We no longer live in a democratic representative republic...it has been a plutocracy for almost 40 years now.
If your not in the upper 20%...your supporting the upper 20%. There are no more conservatives or liberals in Washington. Just devoted, dutiful servants of New York who have different opinions.

Wait until the doors are locked and the armed guards won't give you your gold.

Your stocks are suddenly worthless. The traffic lights don't even work anymore....OR the streetlights!

Wait a minute! Now the power is off in your HOME! But you're sure you've paid your bill!

No computer....no phone. Just that old radio from the basement IF that is....you've got a few batteries!

So you go down to the market thinking you'll pick up a couple gallons of water to see you through....and maybe some cold cuts too.....and OLIVES from the olive bar....just to pass the difficulty.

But there are THOUSANDS of people in the parking lot and smoke, and armed guards BEATING people away from the doors!!!!

Think it PROBABLY won't happen in your lifetime?

Try within the next two years

 

[francoHFW]

YIKES! LOL At least they have Obama regulators....fingers crossed!

The 2 Billion Dollar Loss By JP Morgan Is Just A Preview Of The ...
May 11, 2012 ... Overall, the 9 largest U.S. banks have a total of more than 200 trillion dollars of
exposure to derivatives. That is approximately 3 times the size of ...

theeconomiccollapseblog.com/.../the-2-billion-dollar-loss-by-jpmorgan-is-just-a-preview-of-the-coming-collapse-of-the-derivatives-market - Cached

 

[Neotrotsky]

America is secondary to getting rid of Obama for many right wingers.

Just as
America is secondary to keeping Obama in office for many left wingers

 

[Bloodline]

America is secondary to getting rid of Obama for many right wingers.

Just as
America is secondary to keeping Obama in office for many left wingers

I'm a "left winger" and I really don't give a shit whether Obama is in or out of office!

I just want the best man (or woman) IN office for a change!

 

[Clementine]

Economy added just 69,000 jobs in May, unemployment rate rises to 8.2 percent


US Economy Added 69K Jobs in May, Fewest in a Year - ABC News


'The dismal jobs figures could fan fears that the economy is sputtering.'

Ya think?

Ah the "Summer of Recovery" starts anew.
Looking forward to all the Obama suck ups in the liberal
media to look the other way on this.

It must get more difficult by the day to prop up this clown. The media have been spinning like mad for the last few years, but I don't think people are buying it now.

 

[uscitizen]

Ahh well that is what happens when "profits" are based on pyrimid gambling schemes which is what they are.
A fragile house of cards indeed.

We need to get back to genuine investing in the USA.

You and me both.
Anybody who still has money in the markets and is not a professional who makes a living doing it - is a fool. (includes 401k folks). You cannot win...your basically only providing the perks for the high rollers...you have no chance to make money long term in the markets any more. Your better off buying gold/utilities/real estate etc.

As for politics...does it really matter? We no longer live in a democratic representative republic...it has been a plutocracy for almost 40 years now.
If your not in the upper 20%...your supporting the upper 20%. There are no more conservatives or liberals in Washington. Just devoted, dutiful servants of New York who have different opinions.

Wait until the doors are locked and the armed guards won't give you your gold.

Your stocks are suddenly worthless. The traffic lights don't even work anymore....OR the streetlights!

Wait a minute! Now the power is off in your HOME! But you're sure you've paid your bill!

No computer....no phone. Just that old radio from the basement IF that is....you've got a few batteries!

So you go down to the market thinking you'll pick up a couple gallons of water to see you through....and maybe some cold cuts too.....and OLIVES from the olive bar....just to pass the difficulty.

But there are THOUSANDS of people in the parking lot and smoke, and armed guards BEATING people away from the doors!!!!

Think it PROBABLY won't happen in your lifetime?

Try within the next two years

I have my Gold Eagles in MY vault.
I have cows and a garden and a cellar full of canned goods.
I trade products with my neighbors.

 

[francoHFW]

Pubs shouldn't be elected for 20 years- lying cronyism thieves...

from wiki:

In November 2007, commenting on the financial crisis sparked by the sub-prime mortgage collapse in the United States, Doug Noland’s Credit Bubble Bulletin, on Asia Times Online, noted,

The scale of the Credit "insurance" problem is astounding. According to the Bank of International Settlements, the OTC market for Credit default swaps (CDS) jumped from $4.7 TN at the end of 2004 to $22.6 TN to end 2006. From the International Swaps and Derivatives Association we know that the total notional volume of credit derivatives jumped about 30% during the first half to $45.5 TN. And from the Comptroller of the Currency, total U.S. commercial bank Credit derivative positions ballooned from $492bn to begin 2003 to $11.8 TN as of this past June....