Unemployment ticks up to 9.1%

[FuelRod]

Liberals are the only one's suprised.

Economy added just 54,000 jobs in May - Business - Stocks & economy - msnbc.com

 

[pinqy]

Liberals are the only one's suprised.

Economy added just 54,000 jobs in May - Business - Stocks & economy - msnbc.com

What are you talking about...I doubt this is a surprise to anyone.

 

[FuelRod]

So do you just want to concede the 2012 election now or wait until the new year?

 

[pinqy]

So do you just want to concede the 2012 election now or wait until the new year?

Why would I concede to the Democrats? Granted the Republicans aren't looking great, but Obama's policies haven't worked out that well.

In any case, the labor market is improving...just very slowly and not well. No idea whose favor that will work out to politically by next year, and I certainly don't want continued poor economic news just to get rid of Obama.

 

[boedicca]

This is so expected to those of us who understand economics.

 

[uscitizen]

Understanding the new economics of world trade is the key. Many of the old rules are no longer valid.

And I predicted it would turn out this way when the experts were just predicting a 6 months downturn.
Get used to living with less folks.

 

[boedicca]

I agree. We are seeing a permanent change in the economic landscape.

I read an interesting piece by Walter Read yesterday (part I of a series), that is germane for this thread. A bit long, but great food for thought.

The Death of the American Dream I

(snip)

American housing policy has reached a dead end. We can no longer stimulate the economy successfully by encouraging more and more people to assume higher levels of debt. Decades of public policy aimed at subsidizing home ownership created conditions that spewed toxic mortgages into the financial markets, costing taxpayers hundreds of billions in bailouts and trillions more in lost wealth and lost jobs in the economic downturn, and created a ruinous housing bubble.

It was not, by any means, a complete flop. Tens of millions of American families enjoyed the benefits of living in a home of their own. Prudent borrowers who bought only the house they needed and fought off the temptation to use their home equity to finance their lifestyles have mostly not done too badly. Many homeowners can and will hang on until the inevitable market correction pares their losses to a manageable level. Those lucky or far sighted enough to buy at the right time are still sitting on sizable profits.

But something has, I think, changed. Something big. Humpty Dumpty has fallen off the wall. A social ideal has received an irrecoverable blow and the era of consuming our way to prosperity is drawing to a close. The country has maxed out its credit cards, and we are going to have to live within our means.

This isn’t the first time the American Dream has died. The old dream — your own farm rather than your own home — once dominated American culture, politics and family life as much as the family home ever did. The slow and painful death of that dream was one of the country’s core preoccupations in the first half of the twentieth century. The death of the new dream is likely to be a big deal as well.

The ideal of the family farm was once even more deeply rooted in American life than the ideal of the owner-occupied home. In the 18th and 19th centuries, the average American family owned and farmed a small piece of land. Cheap land on the frontier made the original American dream accessible to just about anybody. New immigrants and young people would work for a few years to save up money for basic tools and equipment, head west and start up a farm....


The Death of the American Dream I | Via Meadia

 

[spectrumc01]

Hey, do you guys remember this...

Building Blue-Collar … Burgers? - CBS News

 

[xsited1]

Liberals are the only one's suprised.

Economy added just 54,000 jobs in May - Business - Stocks & economy - msnbc.com

Obama said unemployment wouldn't rise above 8%, so this report is clearly in error.

 

[Mr Natural]

Given the size of our population and the number of jobs that can be done by cheap overseas labor, 9-10percent unemployment is the new norm for the 21st century.

As uscitizen said above, get used to living with less.

 

[boedicca]

Given the size of our population and the number of jobs that can be done by cheap overseas labor, 9-10percent unemployment is the new norm for the 21st century.

As uscitizen said above, get used to living with less.

Bullshit.

That is Big Government Excuse making. When the size of government relative to GDP increases 25% in three years, it crushes the private sector.

This level of unemployment has been manufactured by the government.

 

[Mr Natural]

Given the size of our population and the number of jobs that can be done by cheap overseas labor, 9-10percent unemployment is the new norm for the 21st century.

As uscitizen said above, get used to living with less.

Bullshit.

That is Big Government Excuse making. When the size of government relative to GDP increases 25% in three years, it crushes the private sector.

This level of unemployment has been manufactured by the government.

Bullshit.

This level of unemployment has been manufactured by employers seeking cheap overseas labor.

 

[boedicca]

Given the size of our population and the number of jobs that can be done by cheap overseas labor, 9-10percent unemployment is the new norm for the 21st century.

As uscitizen said above, get used to living with less.

Bullshit.

That is Big Government Excuse making. When the size of government relative to GDP increases 25% in three years, it crushes the private sector.

This level of unemployment has been manufactured by the government.

Bullshit.

This level of unemployment has been manufactured by employers seeking cheap overseas labor.

HAHAHAHAHA!!!!!!!!!!!!!!!

Most job creation is by small businesses who hire local employees. It's the entrepreneurial sector that is on strike, bub.

 

[Steve Hanson]

There was an article in the WSJ yesterday about the yuan's appreciation on the dollar and how it is getting more costly to import goods from China but will make exporting to China more favorable. Now if we only made stuff to export.

 

[Trajan]

Understanding the new economics of world trade is the key. Many of the old rules are no longer valid.

And I predicted it would turn out this way when the experts were just predicting a 6 months downturn.
Get used to living with less folks.

sorry my good sir, no sale.

so that means what, in essence? obama cannot do the job?

or the old saw that the 'paradigm' has 'changed'? I have been seeing that in some media outlets.....and I expect to se it more often as the economy stays tanked and nov. 2012 gets closer.

I just see that see as a get out of jail free card- fig leaf.....the 'paradigm' always seems 'to change' when a democrat needs an out for lack of performance......sorry but I cannot remember ONE republican given such consideration(s) and even when they did perform, well, there was alwaaaays something.....

 

[Trajan]

There was an article in the WSJ yesterday about the yuan's appreciation on the dollar and how it is getting more costly to import goods from China but will make exporting to China more favorable. Now if we only made stuff to export.

you have to remember that 3 free trade deals that would boost exports have been in the Democratic limbo land between the hill and wh.....what? for 2 years ( and for 2 before that as nancy & harry said no votes on those bills would be allowed) but the afl-cio says no go....so there they sit. so he can stuff his big talk on increased exports....where the sun doesn't shine.

 

[spectrumc01]

As someone who lives in a small town with a majority of small businesses over large businesses let me say a few things. The first is that the larger employers like Wal Mart employ more people than the local small business, even when you start lumping them together. Small businesses first hire relatives, and then they move to friends, and then they move to friends of friends, and then maybe they will hire the general public. Most small businesses is this area have at most six employees. The second thing is that small businesses whine and cry about everything and every little tax and restriction. The reason small businesses fail isn't because they are lousy business people it is because the government made them fail. It is never their fault just ask them. The last thing is that in every venture there are owners and there are employees, not everyone can be an owner and not everyone can be an entepeneur. It seems that the employee on most threads is the one that seems to get slighted and has the blame for the economy placed at their feet. It is never the owners fault but always the employee or governement, why is that?

 

[Steve Hanson]

Understanding the new economics of world trade is the key. Many of the old rules are no longer valid.

And I predicted it would turn out this way when the experts were just predicting a 6 months downturn.
Get used to living with less folks.

sorry my good sir, no sale.

so that means what, in essence? obama cannot do the job?

or the old saw that the 'paradigm' has 'changed'? I have been seeing that in some media outlets.....and I expect to se it more often as the economy stays tanked and nov. 2012 gets closer.

I just see that see as a get out of jail free card- fig leaf.....the 'paradigm' always seems 'to change' when a democrat needs an out for lack of performance......sorry but I cannot remember ONE republican given such consideration(s) and even when they did perform, well, there was alwaaaays something.....

Other countries economies have adapted to these changes. There is no reason we shouldn't be able to too.

 

[Trajan]

 

[iamwhatiseem]

Understanding the new economics of world trade is the key. Many of the old rules are no longer valid.

And I predicted it would turn out this way when the experts were just predicting a 6 months downturn.
Get used to living with less folks.

Spot on...in reality we should have been living with less for 20 years, 67% of consumer spending was debt purchasing.
Didn't we learn this in the Story of the Three Pigs?