The US Census giveth, and the winding down of the census taketh away. If there is one lucky thing for President Obama, it is that the census occurred during an economic meltdown, allowing the US government to pump up jobs and mask some of the downturn in unemployment this year. But now the census and the $787bn Obama economic …
A double-dip recession is highly likely
Unemployment is climbing, there are few new jobs, people are desperate, crime is up, sales are down, Wall Street can't find any direction, house sales are down, new housing permits are down, auto sales are down but at least life is still Platinum on Capitol Hill.
Mrs. Bama even decided to take a nice tax payer paid holiday because all is well in America...
"Unemployment is climbing"
Is it? Did you read anything other than the headline? Stripping out the census swing, unemployment fell. I'm not commenting on double dip recession talk, but at least get your first "fact" right.
This article has been written to hide the dire straights the US economy finds itself in.
True unemployment is indeed climbing. It is measured by the "official" unemployment numbers plus discouraged workers who have stopped looking for work. It also didn't mention the serious downgrade on the "official" numbers from the month before, and indication that when the current report is updated to reflect more accurate numbers next month, we will find the economy lost more than the 131,000 claimed. Another consideration is that the job creation rate is considerably below the rate at which the economy needs to add jobs to keep even with the increasing number of workers in the work force.
With the alignment of negative economic forces against the private sector that has been created by the current regime, a double dip recession is nearing certainty.
These numbers are a measure of just one aspect of the economy. The factory I work at is loaded with work at this time and my hours have went from around 30 a week into overtime.
I also live in a small city and I noticed that the traffic during morning and evening rush hours has been heavy for a couple months now and also a lot of weekend traffic and that's a good sign since I'm positive this is very far from an isolated incidence of visible economic growth.
There's also the fact that the local stores in my town and surrounding towns parking lots are full where they were 1/2 empty if that much last year. I also realized for the past month I've had to wait in line for more than a minute at the grocery store because there are always a lot of people there and they're not just picking up a few things like last year but have full carts.
No matter what you hear on TV the economy is a lot better than a year ago and getting stronger very quickly.
Yes I did read the story
The report that the story is based on is a "snapshot" in time. YES unemployment is increasing. Let me repeat for those who don't understand YES unemployment in the U.S. is INCREASING.
Many of those unemployed are not even counted because their unemployment benefits have expired or they have given up searching for a job that does not exist. YES unemployment is increasing sginificantly in the U.S. and if you use the same measurement methodology that was used in the 70's current U.S. unemployment exceeds 20%. YES unemployment in the U.S. is increasing.
Hopefully things will pick up...
but there's historical precedent for a "double dip" Looking back to statistics during the great depression, the stock market plummeted, regained probably 50-75% of it's loses, then dove again and kept going down for several years.
Lets hope it doesn't happen in the UK
Atleast in the UK things seem to be picking up for the better!!!
no double dip...
... says someone verbose. http://bit.ly/aT6CpD
Paris, coz she likes a double dip.