Watch the Unemployment Rate the next 16 Months

[rsmith6621]

....I have been reading the growing number of post here on the DU this week of USA corporations continuing to trim labor and was thinking just how far would they go to to see that President Obama is not given a 2nd term.

I was thinking the unemployment rate will stabilize at 9.1% for a couple of months and then start back up followed by a drop for a month and then sky rocket sometime before the conventions until what is reported is over 10%. I really believe that the greed of those in corporate America and their need to insure that the middle class is destroyed that they will purposely downsize staffing to accomplish this.

The Republicans are not interested in JOBS not until they can kill Medicare and Social Security then they will restore jobs but they will be restored at lower unlivable wages...I believe we are being held hostage.

Corporate America will destroy this country. As long as the upper management can benefit and bank their bonuses they just don't care about us.Their only scheme now is to get Obama out of the White House so they can perpetuate misery on you and I.

I just wonder if Obama has taken this into consideration.

[Pale Blue Dot]

1. More likely, it is about to skyrocket over the next two months.

More than 100,000 teachers and school support staff are about to lose their jobs due to national, state, and local budget cuts.

And yes, corporate and small business cuts have been on the increase too. www.dailyjobcuts.com

Things are about to get very, very bad.

[RBInMaine]

14. The stimulus bills prevented a far worse situation with local/state job cuts, and actually many

states, such as mine, are starting to do better in terms of their fiscal situations.

[Avant Guardian]

2. I bet they collapse the economy over the debt ceiling

Republicans are dangerous. Their ideology is dangerous.

[bemildred]

3. We will have soldiers coming home.

Maybe even some of the mercenaries.

[OHdem10]

4. According to 3 different reports I picked up --it is going to take

10 years to get back to anywhere near where were before
the collapse. Bloomberg, Fox, CRoseShow. ( This week )

Here is something I posted here on DU during the campaign
and a couple of times since.

You are aware some very informative stuff is covered on
C-Span and especially Congressional hearings.

2006 (?) Right after Democrats had done very well and
increased their numbers in recent election, Senator Chuck
Shumer held a hearing in Banking Committee. Topic State
of American Economy.

Witnesses to testify and answer questions. Larry Sommers
R Rubin, A Professor from North Western, and Alan Blinder
Former V. Chairman of the Fed. At that time Larry Sommers
was former Treasury Secretary.

State of American Economy: Trade Policy had not worked as
they had thought it would , in other words America was
screwed. My words not their--America was screwed.
As a result we would have MILLIONS --not just a few million
I want to say 40 Million --JOB DISLOCATIONS. The country
was described in the bleakest of terms. They said the
the Job Dislocations would affect every group including
Professionals.

Rubin, a hard core Free Trader tried to put some blame
on technological developments. The Senators made them
all admit a big Culprit was Trade Policy.

Other than C-Span this material was never covered on Television.
WAPO may have written on obligatory article.

OH yes, Larry Sommers suggested New Deal FDR approach
or Keynesian approach when the problems arrived.
They could not predict when--just heads up Senators
get ready.

For example Ohio had been in a recession and high unemployment
before the crash. The other rust belt states had been
hit hard by Nafta, GATT etc.

For whatever reason this never became News on Broadcast
and Cable Channels, and if I had not been a C-Span Junkie
at the time I would never have known it.

I do not believe they are conspiring against Obama. Any President
at this time would be in the same fix. I have heard Business
Men state unequivocally: I am concerned about the conditions
in Europe (teetering on the precipice of a Double Dip and
they still have Greece and Spain to bail out. They also
say they have adequate employees for the times. Until we
get more customers we are not hiring. Businesses are to
make money. They will not hire someone they do not need.

Of course we permit the Republicans to get away with saying
the Businesses are concerned with Obama's Policies. My
Gosh, Obama has a committee of Business Leaders. I am sure
they are honest with him.

When you think about it, all the dislocations have not completely
occurred. People are losing salary. When and if they find
a job it is at a much lower rate. I guess it hard to tell
people this is the way it is going to be for about 10 years.








I have heard more


T

[rsmith6621]

5. Thanks OHdem10

very interesting.

[woo me with science]

6. Obama has no immediate plans to address our unemployment crisis.

Witness his latest speech on the subject:

http://www.youtube.com/watch?v=2ntMncOvhIA



Here is what he proposes to address our current unemployment crisis. Mainly, it comes down to job training and a cool new website:

1. A "Skills for America" program that will match up schools and businesses so that students have a "pipeline" to jobs.
Will this create jobs? No. He is talking about matching new graduates to jobs that exist. Newsflash: Not enough jobs exist.

2. The "Skills for America" program will also have 500,000 community colleges provide and document credentials their students receive for manufacturing jobs. That way, companies looking to hire will know exactly what kind of training goes into that degree.
Will this create jobs? No. It will only create bureaucracy to prove that students coming out of community college are qualified for jobs that don't exist.

3. A new WEBSITE on the internet so students and graduates can log on and see what kinds of jobs their skill set qualifies them for.
A new website! Woo hoo! Will this create jobs? No.

4. Mentoring programs and scholarships for students who want to become engineers.
Will this create jobs? No.

5. Invest in research and technology to lead to new ideas and bring new industry.
Will this create new jobs? Well, it could in the long term, but this "proposal" is thrown out along with #6 and #7 in passing, as part of a single sentence. No details. No actual plan or proposal. Just a vague intention. What is he doing for unemployed people right now?

6. Building infrastructure, roads and bridges
Will this create jobs? Well, it might, if it were part of an actual proposal...but it isn't. He throws this out in passing, in the very same sentence as #5 and #7. How will this happen? When? It is not a concrete proposal by any means...not like the "Skills for America" program or the new, spiffy website.

7. "Manufacturing products here in the US to create good jobs."
Um, okay. This one was thrown out with #5 and #6 in a single sentence, with no explanation whatsoever of how he plans to achieve it.

8. "Above all, (improving the economy) requires training and educating our citizens to outcompete workers in other countries."
Really? Above all you are going to focus on training and education to fix the economy? Is that going to create the jobs that are so desperately needed right NOW?

9. "Pass the Workforce Investment Act to build on this progress with new and innovative approaches to training...Eliminate training programs that don't work. Put more money in the programs that work to help workers obtain jobs...That's how we're gonna get people into the middle class and stay there...and rebuild the economy."
Really? That's how you're going to fix the economy? And this is going to create new jobs how?

10. Then at the end he made some thrown-in comments about investing in clean energy and keeping tuitions from rising.
It was, overall, incoherent.



This speech was not reassuring. It was depressing as hell.

[amandabeech]

7. He must be channeling "Field of Dreams."

Build the community colleges and the jobs will come!

I liked the movie, but I never saw it as a policy prescription.

Cheap labor and no enforced regulation overseas are the problem. You can't overcome it with education.

If O wants more engineers, he's going to have to give more scholarships so that newly minted graduates can eat and pay off their student loans.

[woo me with science]

8. "Channeling 'Field of Dreams'"

Very well put. :thumbsup:

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[KoKo]

16. Agree about the speech. Instead of a "WPA" Roosevelt program it was just training

and education ..as if there aren't already trained and educated people who are jobless because of our failed trade policies which led to outsourcing.

Thanks for the post. I found his speech depressing because both Krugman and Reich and others have been urging him to do a WPA type program and his answer was "government cannot create jobs, only the private sector can." (that's a quote from his radio address).

He truly believes in privatization of everything and that businesses will hire even when there's no demand because folks don't have money to create more demand. People have to have jobs that pay enough for them to be out there buying goods or renovating their homes to use more green energy.

[locahungaria]

26. Great point by point analysis

Right on! :bounce:

To put it another way:
"We need a new WPA," and "You can't have an economic recovery without a jobs recovery."
--Robert Reich, on ABC's This Week, June 12, 2011

Reich, who, like it or not, is one of the best economists we have, said that since there is no demand that the private sector won't hire. At least not much. The ONLY way to put dollars in Americans' pockets right now is for the government to DIRECTLY HIRE PEOPLE. His words, not mine, though I agree.

Obama had a wonderful chance to be FDR II. Even Time magazine portrayed him as such in 2008. He blew it. And that's a damned shame.

[StarsInHerHair]

9. how'd that go again-significant economic disruption............how far til it

qualifies as terrorism?

[robinlynne]

10. makes sense.

[RBInMaine]

12. Most economists and CEO's expect 2-3% GDP growth this year and more next year. 16 months from now

the employment picture will be better.

[Klingon]

17. Oh well if the CEOs said that, I feel safe now

I thought that most economists and CEOs failed to predict the current crisis.

I was also thinking about JPMorgan Chase's forecast that home values would fail an additional 4-5% in the next 12 months.

Silly me.

[JoePhilly]

21. moved

[RBInMaine]

15. The biggest problem is the corporate whining about "uncertainty". Enough already! Hire people!

[Klingon]

18. They do hire people. In China.

And they will keep doing that no matter what Obama or other president gives them.

[woo me with science]

19. Kick.

[Imajika]

20. Dumbest conspiracy theory ever...

"....I have been reading the growing number of post here on the DU this week of USA corporations continuing to trim labor and was thinking just how far would they go to to see that President Obama is not given a 2nd term."

Yes, because Wall Street and corporate America don't also support Democrats right? In fact, in some sectors they give MORE money to Democrats. Obama has not done all that much to disappoint them.

"I really believe that the greed of those in corporate America and their need to insure that the middle class is destroyed that they will purposely downsize staffing to accomplish this."

You are talking about a conspiracy theory of mammoth proportions and it's completely ridiculous. Business exist to make money. There is no chance whatsoever they'd all hold together and secretly agree not to hire people. As they compete ferociously, the smart ones would just hire, make more money, and wipe out the businesses who were so partisan they intentionally deprived themselves and shareholders of profit on their ideological crusade to kill the economy. It is a dumb, dumb, dumb, conspiracy theory.

The problem with the economy is demand. There is not enough demand. That is why we need more stimulus.

[JoePhilly]

22. Last June, DU was predicting a double dip ... the evidence used ...

to make that prediction ... unemployment at 9.7%, Dow at 9800.

One of the many reasons I don't look to threads on DU for predictions about the economy or the markets.

[Dawgs]

24. What is DU?

Five or so DUers making a prediction does not equal DU. And, it certainly doesn't mean that the OP is incorrect.

[JoePhilly]

25. It was a running theme for days. Repeated through the summer.

Lots of people agreeing the end was nigh. I remember it well ... so well, I recalled one of the articles used to push that view.
http://www.wsws.org/articles/2010/jun2010/pers-j07.shtml

Then ... nothing happened.

Since then, the DOW has gone up to about 12k, and unemployment is down from 9.7% to 9.1%.

To be fair, when 5 or 6 some ones on DU (or even ONE some one) posts that the economy is going to leap forward, I won't take that advice either. Its just that I can't recall anyone every making that claim. Let alone 4 or 5.

[Eagle Mall]

23. They can't stop Obama. But don't let me ruin your daydream.