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(11,045 posts)In 2010 the unemployment rate crossed into a WWII record of 18%% when the Federal Government'sassistance to Citibank failed. Unemployment went on to top 22% when Ford, the last automaker standing in Detroit filed for Ch.7, taking their dealer network with them. American consumers, already worried about the orospect of a 1930s style Depression, had their worst fears confirmed in August when President McCain announced more tax cuts for job creators ...
Plucketeer
(12,882 posts)Jobs graph trending skyward - Income graph FLAT-LINED! And I'd bet the TPP is gonna lock these graphs into place. Yea!
fasttense
(17,301 posts)The truth is, like you posted, some more jobs have been created but they have low low wages. Many more people have simply dropped out of the economy - the participation rate is dismal. Many of those jobs are part time.
So if you or someone's you love still can't find a job, if the job you found requires twice the work but half the salary, or if you became self employed out of desperation or are a subcontractor with all the expenses but none of the profits don't feel bad. The so called recovery really only affected the richest among us.
And if the TPP passes, watch those few remaining jobs go bye-bye.
ejbr
(5,852 posts)underpants
(182,273 posts)Fred Sanders
(23,946 posts)into silence on it, the easily available graphics to prove the remarkable ness of it all for near economic collapse - thanks to another failed economic performance by the trickle down pissers - are verboten in Propaganda Nation and now the media moguls of America must resort to, in addition to the usual background fearmongering, scrapping the ad hominem bottom of the barrel to help hide the increasingly exposed GOP agenda.
America has seen the happenings in Wisconsin and Kansas even if the mass media is "missing" it.
tridim
(45,358 posts)MannyGoldstein
(34,589 posts)IronLionZion
(45,256 posts)which is directly tied to property tax revenue, which is directly tied to housing prices
Spitfire of ATJ
(32,723 posts)I told him Obama has created millions of jobs and he said, and I quote, "What does a ni**er know about jobs?"
He was serious too.
63splitwindow
(2,657 posts)... those right-wingers. Totally self-deluded pawns in the mega-wealthy's world.
november3rd
(1,113 posts)The Times had this to say (not that they're the last word anymore),
"Carl Tannenbaum, chief economist at Northern Trust.
He added that he was encouraged by the growth in wages, which have now risen 2.3 percent over last year. Its good for workers and also a sign that capacity in the labor market is being utilized more fully.
This attitude toward "workers" is toxic. How much have this fat cat's salary and bonus risen over last year?
Want to increase wages? Give everybody the right to join a union, introduce universal single-payer health care, cut Defense by 25%, provide free child care and public education, provide affordable housing for everybody. Then, even if people make the same wage, they'll have a lot more disposable income.
Plucketeer
(12,882 posts)Job numbers are one thing. And as I've said before - some of these "American" companies are bringing a few jobs BACK from overseas. Loudly crowing about it as they do so. But it's NOT some sort of patriotic fervor that's inciting them to do so - it's the fact that the U.S. labor force has been numbed enough to take wages they would have LAUGHED AT 10 - 15 - 20 years ago.
I'm usually just a "replier" here on DU. But I have yet to see someone other'n me sounding off as to the overall strategy being perpetrated against the US and other "advanced nations". We're being leveraged into a world where EVERY NATION that wants jobs for it's citizens has to GET IN LINE with a WORLD wage scale. Hell - that's what the TPP is all about! This global aim has Bill Clinton and various collaborators (such as the POTUS) written all over it.
There's gonna be the "haves" and the rest of us. That's it. God help us - get Bernie Sanders into the Oval Office.
RussBLib
(8,984 posts)The markets cannot stand it when a bunch of jobs get created. Now, they are sooooo worried that interest rates will rise SOONER then they had expected! Oh no!!! Crash and burn!! Sell it all!!!
Markets LOVE it when jobs get cut because theoretically companies will be cutting costs. The workers who have lost their jobs? Eh, fuck 'em!
zipplewrath
(16,646 posts)The subject line is more negative than I really want, but a response to the OP subject line.
Look, I shudder to think of what we'd have lived through with 8 years of McCain. It'da been a bunch of austerity nonsense and tax cuts for the rich. We'd still be in a huge funk, and we'd be without an auto industry.
None the less, I don't elect democrats to not be as bad as republicans. As the article to which the OP points we must acknowledge that:
The stimulus was too small by half, and Summers wouldn't even consider what Krugman was saying about the size at the time. Geithner has admitted in his book that he was afraid to make the bankers lose their bonuses, and so he paid them 100 cents on the dollar for their toxic assets, guaranteeing that they'd make their bonuses. No one failed their "stress test" and was closed down. The 10% basically recovered their losses, presuming they stayed in the markets. But the middle class, especially the lower middle class, took a hair cut from which they may never recover. Even the White House has admitted at various times that their attempts to help mortgage holders under achieved. And Obama at one point said he learned there was no such thing as "shovel ready".
Yes, he was way better than the alternatives. But he has none the less left much of the American work force "hanging". Yes he's had alot of help from congress, to some extent even from democrats in congress. But at virtually every turn he ignored warnings from those who have turned out to be right, and followed the advice of those that were proven wrong.
lakers4life
(1 post)WOw..
d_legendary1
(2,586 posts)Cha
(295,899 posts)It would be better if we didn't have a repub congress.. but then they know that.
MADem
(135,425 posts)The crap he takes...and he doesn't let it get to him.
tavernier
(12,322 posts)With Jebbie running, this will be buried under the "bushes".
We. Need. To. Shout. It.
Facebook Share It.
Twitter It.
Rinse and Repeat It!!!
Jim Lane
(11,175 posts)The numbers do not show that "private sector job growth has increased for the 63rd straight month...."
The number of jobs has increased (that's what job growth means), but for job growth to increase, the vertical bars would have to be getting higher each month. Instead, the red dotted line shows that job growth has been essentially flat for several years.
You can see the difference if you look at 2008-09. Under Bush, we were not only losing jobs every month, but the job shrinkage was increasing. That is, each month saw a greater loss than the previous month. If 2008 were on the graph, the red dotted line would be moving downward. You can see that in the full graph found at the first link.)
The stimulus couldn't immediately turn job shrinkage into job growth, but it did turn the tide. The shrinkage became less each month before turning into job growth. The red dotted line turned upward.
The stimulus, however, wasn't big enough. It should have been bigger initially or followed by a second installment. Because it wasn't, the recovery has been weaker than it could have been, as the red dotted line leveled off.
BlueMTexpat
(15,349 posts)SunSeeker
(51,367 posts)Cosmic Dancer
(70 posts)it doesn't matter how many jobs are created or how well the economy does, this President will not receive any credit from the public at large. The 24 hr hate machine at faux will see to that.
cstanleytech
(26,080 posts)and for some like my brother its going to take them years to recoup what they lost due to having to take a pay cut.
IronLionZion
(45,256 posts)Most freepers claim the socialist sounding Bureau of Labor Statistics makes up the numbers
And somehow they blame Obama for the recent loss in oil jobs. It's his socialist policies, not the free market lowering prices.
but when you look at the facts the majority of these jobs are temporary,seasonal,unskilled low paying jobs. exactly the kind of jobs that liberals democrats criticize
cantbeserious
(13,039 posts)eom
rafeh1
(385 posts)are only good at whining and complaining.
On top many companies and individuals have found that doom and gloom sells. They make their living off the right whingers.