Unexpectedly, of course!!! :MARIS61: http://finance.yahoo.com/news/Employment-growth-brakes-rb-325963585.html?x=0&.v=3 Here is Joe Biden from April 2010. http://blogs.abcnews.com/politicalp...icts-massive-job-growth-in-coming-months.html At some point, this administration will lose all credibility on their handling of the economy.
no man, the last thing I saw on the news was that the natural disasters are to blame both here and in Japan. Oh, and its Bushes fault.. And this did not take into account all of those people who no longer qualify for un employment benifits, ya see they dont exist anymore..
I think we need to come to grips with the fact that what we've seen is a tepid recovery built on government intervention. Like our own finances, even the government can't spend indefinitely. It's made an unprecendented attempt to prop up an economy that simply needs to deleverage. If we would have done it in 2008, it would have been a deep recession, but we would have snapped back the way we did in 1982. The fear among investors is that adding $5T to the national debt has created a stagflationary environment, where the excess dollars need to be soaked up through inflation, yet we're still going to have negative growth. This circumstance acts as a double whammy to the personal finances of people: prices rise while income falls. I think we're in for a rough couple of years that will make the past two and a half look like the 90s.
Here's a good read If you borrowed $8 to get $1 in your pocket, would that strike you as a good deal?How long do you reckon you could borrow $7 to get $1 of "growth" in your finances? Let's say you need $3,000 a month to pay all the household bills. No problem, just go borrow $24,000 and your household economy will "grow" by $3,000. If this isn't the height of fiscal nonsense, then what is? http://charleshughsmith.blogspot.com/2011/06/can-we-please-stop-pretending-gdp-is.html?
Maxie hit it right on the button. Perfect example is the white house being happy that GM has only cost the tax payers 21B dollars, right about three times the value when they took over, and this is a victory? Not going to try and spark a debate on the right or wrong of the bailout in general, but the government has shown over and over that they can not run anything and turn a profit. Now they want the health care system..hey I got an idea, lets see the post office get right first.
QE3 is nothing more than crony capitalism to keep the markets propped up with false currency. The average citizen doesn't understand that we can't just keep printing money to prop up markets, and it doesn't surprise me. When it crashes, it's going to be very ugly. People jumping out of windows ugly...
I think they're going to have some very short sighted monetary policy in the next 6-8 months to artificially prop up the economy until the election. Then the crash happens.
Updated with recent data. It's a good thing we wasted nearly a trillion dollars and have nothing to show for it. The UE rate is HIGHER now than it was when the Stimulus bill was passed. It has been a complete and utter failure.
Birth/Death adjustment of +206k for the month of May alone. With a 54k "net" that means that almost 150k jobs were lost in May. http://www.zerohedge.com/article/birthdeath-adjustment-206000 Things are bad, folks. Very, very bad.
That's tremendous news. We hired a couple of analysts in the past few months and we couldn't believe the resumes we were receiving. Overqualified doesn't begin to describe what arrived at our doorstep.
Scroll through these charts and you'll get an idea why this recession is different. http://cr4re.com/charts/charts.html#category=Employment&chart=JobLossesRecessionStartMay2011.jpg What makes this recession different? The government's reaction to it.
Those are some scary charts from that website you posted maxiep. Especially the payroll drop off and the duration of weeks people are unemployed for. http://cr4re.com/charts/charts.html#category=Employment&chart=DurationUnemploymentMay2011.jpg
