Unemployment rate for first 4 years by president

[mshan]

Few good links from FT article link above:

- http://www.slate.com/blogs/moneybox...rses_fewer_teachers_and_factory_workers_.html

- http://www.npr.org/blogs/money/2012/09/07/160502999/jobs-in-america-in-2-graphs (please note specifically that the "baseline" starting point is January 2008, not 2009)

"Three years into the recovery, the U.S. jobs picture is still bleak. There are 4.7 million fewer jobs today than there were in January 2008, the month when employment peaked."

It's almost as if George "Nero" Bush* pushed an airliner into a terminal dive, took the last parachute, and said "see ya suckas" as he jumped out the door (episode 2, start at 42:45 mark: http://www.pbs.org/wgbh/pages/frontline/money-power-wall-street/#b). Obama and Bernanke somehow miraculously pulled the plane out of the dive, leveled it off, and now have it in a gradual climb back to altitude. They have essentially undone all of the damage since Obama formally took office, but Obama is still being blamed because we are not back to peak bubble years employment numbers (unsustainable because we were building 1 million more homes than market needed, stealing jobs and demand from future, as well as demand from cash out refi driven spending based upon home that is really not worth anywhere near the loan taken out).

$2 gas was possible because Bush crashed the stock market and pulled the global economy into what looked to be another Great Depression. Yet just months before that (summer of 2008), when the financial crisis (collapse of shadow banking system?) was ostensibly contained and the bubble economy still "intact", so to speak, 1) Brent crude was $147, 2) gas was approaching $5, and 3) inflation peaked at 5.6%.

Don't know about anyone else, but I for one don't think that is a particuarly good solution to "high" gas prices...







* http://video.cnbc.com/gallery/?video=3000060287 (start around 10:15 mark; John Allison, the commentator, was former chairman of BB&T, and most definitely not a fan of Obama). Then reset to around 8:45 mark for Bearn Stearns comments and difference between then and S&L Crisis previously.

 

[Matt1970]

Next time Bush runs for office I am sure that graph will be helpful. Lack of job growth when Unemployment is 4% like when Bush took office doesn't mean as much as when it is 10%.

 

[Munky]

If the lefty kooks knew how the Bureau of Lies and Scams calculated unemployment, they wouldn't be celebrating. According to the BLS, if people drop out of the workforce or stop looking for work, then they no longer count, and therefore unemployment decreases. Maybe you should consider that other chart titled "Labor Participation Rate" and tell me how that looks.

http://www.zerohedge.com/news/impli...-spread-propaganda-number-surges-30-year-high

 

[Dulanic]

Next time Bush runs for office I am sure that graph will be helpful. Lack of job growth when Unemployment is 4% like when Bush took office doesn't mean as much as when it is 10%.

You always have excuses. We should just "forget" and "ignore" the complete mess republicans left us because now magically they would do better.... ha.

BTW, It is still a fixed number of jobs that needs to be created for every percent, period. Fucking lemmings... blah blah blah Obama can't completely flip around our mess fast enough so put us BACK up for ANOTHER try to fuck it all up.

 

[hal2kilo]

Increasing government hiring would create a larger pool of consumers, increasing demand, and spurring growth.

But we can't have that because of Grover.

:thumbsup:

 

[Matt1970]

You always have excuses. We should just "forget" and "ignore" the complete mess republicans left us because now magically they would do better.... ha.

BTW, It is still a fixed number of jobs that needs to be created for every percent, period. Fucking lemmings... blah blah blah Obama can't completely flip around our mess fast enough so put us BACK up for ANOTHER try to fuck it all up.

So you are another one who thinks Bush caused the housing market collapse?

 

[werepossum]

Few good links from FT article link above:

- http://www.slate.com/blogs/moneybox...rses_fewer_teachers_and_factory_workers_.html

- http://www.npr.org/blogs/money/2012/09/07/160502999/jobs-in-america-in-2-graphs (please note specifically that the "baseline" starting point is January 2008, not 2009)




It's almost as if George "Nero" Bush* pushed an airliner into a terminal dive, took the last parachute, and said "see ya suckas" as he jumped out the door (episode 2, start at 42:45 mark: http://www.pbs.org/wgbh/pages/frontline/money-power-wall-street/#b). Obama and Bernanke somehow miraculously pulled the plane out of the dive, leveled it off, and now have it in a gradual climb back to altitude. They have essentially undone all of the damage since Obama formally took office, but Obama is still being blamed because we are not back to peak bubble years employment numbers (unsustainable because we were building 1 million more homes than market needed, stealing jobs and demand from future, as well as demand from cash out refi driven spending based upon home that is really not worth anywhere near the loan taken out).

$2 gas was possible because Bush crashed the stock market and pulled the global economy into what looked to be another Great Depression. Yet just months before that (summer of 2008), when the financial crisis (collapse of shadow banking system?) was ostensibly contained and the bubble economy still "intact", so to speak, 1) Brent crude was $147, 2) gas was approaching $5, and 3) inflation peaked at 5.6%.

Don't know about anyone else, but I for one don't think that is a particuarly good solution to "high" gas prices...







* http://video.cnbc.com/gallery/?video=3000060287 (start around 10:15 mark; John Allison, the commentator, was former chairman of BB&T, and most definitely not a fan of Obama). Then reset to around 8:45 mark for Bearn Stearns comments and difference between then and S&L Crisis previously.

This shows what will happen when Obama gets re-elected - unemployment in the 8%+ range will be considered good and the new normal - even if they have to lie about the numbers of people looking for work to reach even that.

Move over Greece, there's a new ass to plant on the couch of big government.

 

[Dulanic]

So you are another one who thinks Bush caused the housing market collapse?

Nope, but his policies sure helped push us towards it. Under regulation of the financial sector let them do what they did. This even goes back to Clinton and the undoing of Glass-Segal. I know the financial crash and housing crash are somewhat separate but they are very much linked.

However with that said his administration did nothing to notice or stop the housing explosion. There were many things that should have been identified by his administration.

 

[werepossum]

Nope, but his policies sure helped push us towards it. Under regulation of the financial sector let them do what they did. This even goes back to Clinton and the undoing of Glass-Segal. I know the financial crash and housing crash are somewhat separate but they are very much linked.

However with that said his administration did nothing to notice or stop the housing explosion. There were many things that should have been identified by his administration.

It's a thoroughly bi-partisan crash. A President Dole would have signed the same legislation as did Clinton, and Barney Frank, Chris Dodd and Charles Schumer fought tooth and nail against fixing Fannie May, Freddie Mac, and the Wall Street derivatives market.

Democracy - where we get the leaders we deserve, not the leaders we need.

 

[zsdersw]

Democracy - where we get the leaders we deserve, not the leaders we need.

Indeed. It's very much like the marketplace of goods and services; you get what you are willing to buy, whether it is what you need or not.