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The economy this week

Discussion in 'Political Discussion' started by patsfan13, Jun 16, 2011.

  1. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    416,000 lost their jobs this week as the recovery continues.

    Came across a couple of articles this week that are linked and demonstrates the cluelessness of the current administration.

    Obama had a jobs summit / photo op with his "Jobs Council" headed by the CEO of GE (lots of taxpayer $$$$ for 'renewable energy' but they paid no taxes sweet huh?). There solution to the jobs situation.....wait.......2B for remedial training of HS grads (I was confused by that because the administration and the NEA tell us what a wonderful job our teachers are doing to earn their cadillac pensions).

    This is because there are all these manufacturing jobs that can't be filled....or so they say.

    The Obama Job Lies Pile Up - John Ransom - Townhall Finance



    This is probably news to all the manufacturing workers that have been laid off and are out of work.

    But then there is this report from the Philly Fed:


  2. JackBauer

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    Wow, this is really fascinating stuff. Yet another thread with cherry picked articles meant to make the President look bad. I really wasn't expecting this from you, PF13.

    PS: where is your link for the 416k figure?
    Last edited: Jun 16, 2011
  3. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    US Dept of Labor, as reported on CNBC at 8:30 am, btw this is the tenth consecutive week of 400,000+ people losing their jobs.
  4. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey
    Economics 101 remedial Course for Patsfan13:

    That is not the net number.

    In a 21st century economy, people lose jobs and people gain jobs. Looking at only one side of the fraction is a different ballgame in today's more job mobile economy than it was in 1970's "work for one company and retire after 40 years with a gold watch" economy.

    Last month's NET number was a huge disappointment, because the economy added ONLY 54,000 jobs net.

    If the economy loses even more jobs next month (let's say 500,000 new claims), but gains 750,000 new jobs (for a net of positive 250,000) that would be a very good thing.

    The NET number is the important one. Anything else is just you spinning.
    Last edited: Jun 16, 2011
  5. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    The net number from the recent Non Farm reports the past few months are lower than the number of people entering the work force each month.


    THAT is the important number.
  6. JackBauer

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    That's okay. The unemployed can always rely on Mitt Romney's empathy to get them through these trying times.
  7. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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  8. JackBauer

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    I'd like to your alternative vision. All I hear from the GOP is more tax cuts and less regulation. Doesn't really strike me as a particularly novel or effective strategy.

    And yeah, if the economy is going the right direction, Obama will be fine. If not, he'll be threatened, but might win anyway due to the lack of a credible challenger.
  9. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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  10. Titus Pullo

    Titus Pullo Banned

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    2005:

    Us: Too many people, not enough resources, too much deregulation, cooked books and outsourcing... This country is heading for skyrocketing unemployment and an economic crash not seen in 75 years, ... and there's nothing the next president can do about it.

    You: Relax, chicken little. Everything is fine. The markets are strong, and will remain so.​

    2011:

    You: The country is falling apart.

    Us: Told ya. Even the IMF is admitting the age of growth is over.

    You: It would be different if the socialist wasn't president.​

    /facepalm
  11. Wolfpack

    Wolfpack Banned

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    Well that's better than relying on the idiocy of Barack Obama. He's a completely clueless moron.
  12. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    Patsfan13 once again judging stock markets based on multi-week moves.

    Obama came in at Dow 7900, son. Oh, the humanity, the Dow is now down to 11,900!!!!

    For those of Patsfan13's ilk with very short attention spans, the markets did the very same swoon in the May-July period last year also. 2010 ended up a very strong market year.
  13. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    2005: 160B

    2011: 1.6T deficit

    :rolleyes:
  14. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey
    Another enlightening post by the resident graffiti artist.

    Are you in high school?
  15. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey
    1/20/2001: 237b Surplus, Dow 11,000, American economy unmatched in the world and at peace.

    1/20/2009: 455b Deficit, Dow 7,900, American economy in tatters and in 2 wars.

    Game. Set. Match.
    Last edited: Jun 16, 2011
  16. Wolfpack

    Wolfpack Banned

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    Could a moderator please explain to me how this is not a personal attack? :confused:
  17. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    You should recalibrate to when Pelosi and Reid took over congress with their insane a** clown party.

    ie 2007....


    Then again another indication of how thing went when Pelosi & Reid took control:


    The average cost of a house relative to the price of gold, see the 8-% decline.....

    [​IMG]
  18. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    They "took control" in 2007?

    Wow, PF13, I missed all those liberal laws they shoved down that poor weakling George W. Bush's throat in those two years. Man, that was amazing how they overrode his vetoes and got all those laws passed that he opposed.
    Last edited: Jun 16, 2011
  19. Titus Pullo

    Titus Pullo Banned

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    THAT is your response? Replete with rolling eyed emote? LOL.

    This above is like saying that a cancer patient's accelerated symptoms years after diagnosis indicate he only recently got sick.

    My goodness, are you ever horrible at this. Lazy, partisan rationalizations aren't "winning," sorry.

    Just admit you were warned of this outcome years ago, that you were dead wrong (as always) in denying it was coming, and are only slapping a partisan explanation on it today for affect.
    Last edited: Jun 16, 2011
  20. Wolfpack

    Wolfpack Banned

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    Actually what he said is absolutely nothing at all like that.
    My gawd, are you ever horrible at this with your lazy, partisan analogies which don't make no sense.
  21. chicowalker

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    Then why did you post the 400,000 figure (twice), as if THAT was the important figure?
  22. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Because it show a LOT of people losing jobs each week. If the economy was healthy and expanding that number would be 100k -200k

    Check the history of that number.
  23. Titus Pullo

    Titus Pullo Banned

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    Quite a bit like it, considering he's only acknowledging the problem now that the "socialist" is in office.

    You're like Donnie from Lebowski, wandering into the middle of a conversation pretending you have some frame of reference. Run along now.

    What are you confused about, limited thinker? I'll be happy to spell it out for you even more clearly.
    Last edited: Jun 16, 2011
  24. chicowalker

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    So is THAT the "important number" or not?

    And why would you neglect to include the rest of the equation... hmmm... why could that be?
  25. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey
    You sound like those folks who focus in on a mutual fund's internal expense ratio instead of it's net return to the investor. How many people turn their noses up at a 5 star rated fund that places in the top decile of its return performance group consistently because a genius like Suze Orman tells them it is "too expensive"? Too many.

    The bottom line is the whole story.

    In the days before Linkedin, Monster.com, etc. the jobless claims number was more important. In this day and age, someone can lose a job on Wednesday and land another on Monday. We aren't in the typewriter era anymore.

    The NET number is paramount. May, as a one month number, was a very disappointing number.

    If you want to keep plastering this forum with a partial statistic after you've been repeatedly informed, then that says alot about how you value honest discourse here.
    Last edited: Jun 16, 2011
  26. chicowalker

    chicowalker Rookie

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    That's been made abundantly clear.
  27. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    The "Unemployed" Romney weighs in and says this is the worst recovery since Hoover.. but Polifact says different. Things aren't very good, but to say Obama is the worse is a flat out lie..

    PolitiFact | Mitt Romney says we're in "the slowest job recovery since Hoover"

  28. PatriotsReign

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    The most important employment water-mark is the weekly job loss number as PF13 has posted several times. This is THE number Wall Street and other economic watch-dogs look at.

    If you follow the employment situation on a week to week basis, this is the number everyone looks at to gain a clear picture of the direction employment situation.

    The reason this number is so important is because even if we are adding many jobs, it means nothing if we're losing them at a continuously alarming rate. Anything over 400k job losses in one month is very significant (even if we are adding more than 400k new jobs).

    PF13 is correct in expressing it's importance.

    Every single week, The Jobs Report is published and the #1 number is the one showing the amount of new people seeking unemployment benefits (414k).

    For example;

    Jobs report pushes Dow Jones higher

    "The pace of new home construction quickened last month and the number of people who applied for unemployment benefits fell last week to 414,000, more of an improvement than economists expected. Weekly applications for unemployment have been over 400,000 since April, a rate that suggests job growth is still slow"

    Jobs report pushes Dow Jones higher « Express & Star
    Last edited: Jun 17, 2011
  29. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    God Damn Bush
  30. wistahpatsfan

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    A bit off your post, but not completely:

    Why is it that when a corporation (streamlines) their operation they become more valuable and their stocks rise? Why, during this long and painful (to most) recession, is Wall Street kicking arse during the same period?

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