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Posts Tagged ‘Obama Boom’

Another Obama Boom story

by Phantom Ace ( 230 Comments › )
Filed under Barack Obama, Democratic Party, Economy at December 31st, 2010 - 8:30 am

The theme of the Obama Boom continues to gather strength. The Progressive media will do everything in its power to convince Americans that things are good.  Jobless claims fell to 388,000 which is the lowest level since 2008. Sounds good right? Well 2008 wasn’t exactly a great economic year. Job growth had been stagnant since 2006, Gas prices were at $4 a gallon and the financial meltdown began. This is really not good news at all, but it doesn’t stop the media from pushing the Obama boom theme.

President Obama got some early New Year’s cheer Thursday — a positive report on jobless claims that increases the chances that next week will bring the first drop in the unemployment rate since June.

[…]

The Labor Department reported Thursday that initial claims for unemployment insurance by the newly jobless fell by a larger than expected 34,000 last week to 388,000, the lowest since July 2008. The four-week average of jobless claims — a good leading indicator of the direction of hiring by business – also fell to the lowest level since the summer of 2008.

Read the rest: Jobless data are bright for Obama

Things are great again everyone! Send your resume out or demand a higher salary increase! Yeah right, the media is continuing to hope for an economic miracle to save Obama. The reality is, America is the economic sick man of the global economy. We have an outdated tax and regulatory structure. Unless this is addressed, the economic will continue to be anemic as it has been for the last 10 years.

Wall St. Journal pushes the Obama Boom lie

by Phantom Ace ( 114 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Elections 2012, Media, Progressives at December 27th, 2010 - 4:30 pm

The Obama Boom hype is back. After several reports of slight economic improvements the media is back to proclaiming a boom. They have become cheerleaders in the hopes that people will believe the economy is good and this will assist Obama. In fact, recent polls show Obama’s popularity increasing again due to this propaganda and the Republican surrender in the lame duck session. The most interesting media source that joined this bandwagon is the Wall Street Journal. They are normally a Conservative/Libertarian leaning publication. But lately they have become fans of the Obama economy and are pushing the idea of a boom.

As the economy gradually recovers, some big U.S. companies are cranking up their recruiting and advertising thousands of job openings, ranging from retail clerks and nurses to bank tellers and experts in cloud computing.

Many of the new jobs are in retailing, accounting, consulting, health care, telecommunications and defense-related industries, according to data collected for The Wall Street Journal by Indeed Inc., which runs one the largest employment websites. It said the number of U.S. job postings on the Internet rose to 4.7 million on Dec. 1, up from 2.7 million a year earlier. The company daily collects listings from corporate and job-posting websites, removing duplicates.

Its figures may undercount available jobs because some companies don’t post all listings online, an Indeed spokesman said. Farming, manufacturing and construction jobs tend to be under-represented in online postings, while skilled computer and mathematical jobs are overrepresented, said June Shelp, an economist and vice president for the Conference Board, a private research group.

Read the rest: Job Offers Rising as Economy Warms Up

As anyone in the real world knows this is all nonsense. There are very little jobs being added to the economy since America is getting its clock cleaned by India and China. Many people are working at lower wages or living off of their 401Ks. Why the Wall Street Journal is pushing this Obama Boom propaganda is just baffling. They are right of center yet pushing a lie to help a Progressive president. I wonder what is going on here?

Update: Now the Hill website is pushing the Obama Boom theme.

Job creation is happening at a faster rate than during previous recessions — more good news for the White House and congressional Democrats who have spent the past two years defending their policies as the economy has slowly recovered.analysis released Wednesday finds that jobs are returning faster compared with previous recessions, despite greater overall job losses across all 50 states.

A Joint Economic Committee state-by-state

[….]

While the November jobs report released by the Labor Department reflected an increase in unemployment, some economists have said it’s likely a bump in the road heading into next year, with businesses signaling their willingness to accelerate hiring in the next several months.

The media will be pushing this propaganda in an effort to have Obama re-lected in 2012. Don’t underestimate these people. They convinced Americans that the economy sucked, even when it was OK (not great like the 80’s/90’s) around 2005. Also, notice the Progressive media is not mentioning the rising oil prices and if they do, it’s now a positive. Witha  complacent media and pushover Republican elitists Boehner and McConnell, Obama is the favorite in my opinion to win 2012. They are laying the groundwork for this and don’t underestimate the Progressives.

Update III:Fox Busines also pushes the Obama Boom theme. In fact, their headline is very misleading.

Americans Feeling More Financially Secure

Sounds great until you read these key paragraphs.

Some 42% of Americans feel less financially secure now than they did a year ago, slightly improved from the same time last year where more than half felt unstable, according to a Harris Interactive poll.
[…]

Despite cautiously optimistic views, half of Americans said they plan on cutting back on their household spending in 2011. Of the money spent, roughly 41% of Americans said they will pay down debt, with 40% planning on saving more and 22% putting more toward retirement.

What is going on with Newscop? The Wall St. Journal and Fox Business have joined the Progressive lies about an Obama Boom. Why not report the truth that the economy is stagnant and America is the laughing stock of the global economy. I expected better from Fox and Journal.

Update IV:Here is a graph showing the truth about the job creation compared with other recessions.

This debunks the Hill’s story about jobs growing faster than other recessions. There is no Obama Boom people.

(Hat Tip:1389 and Iron Fist)

Long Term Unemployment Will Be With Us for the Long Term

by Iron Fist ( 94 Comments › )
Filed under Economy, Misery Index at December 3rd, 2010 - 11:30 am

The New York Times, of all places, gets it right:

Persistence of Long-Term Unemployment Tests U.S.

The longer people stay out of work, the more trouble they have finding new work.

That is a fact of life that much of Europe, with its underclass of permanently idle workers, knows all too well. But it is a lesson that the United States seems to be just learning.

This country has some of the highest levels of long-term unemployment — or joblessness lasting more than six months — ever recorded. Meanwhile, job growth has been, and looks to remain, disappointingly slow, indicating that those out of work a while are likely to remain so for the foreseeable future. Even if the government report on Friday shows the expected improvement in hiring by business, it will not be enough to make a real dent in those totals.

As we now know, today’s unemployment numbers were up. This is a bad economy to lose your job in. The worst economy for that since they’ve started keeping record, including the Great Depression. I don’t know what to do about it. The Democrats want to extend unemployment benifits again. I don’t know about that. That encourages people to continue looking in their old profession, and if they’ve not succeeded at that in two years, they are unlikely to succeed at it in three more months. People have to change professions sometimes. I’ve been a dishwasher, restuarantcook, construction worker (welder), press-brake operator, draftsman, and day laborer in addition to being a software engineer in my long career. I hope to be a software engineer five years from now (with the same company, I hope), but I may have to change again before all is said and done. Some of these people need to look at retraining.

That said, I’m not sure what they should re-train to. The tech industry has lapsed back to modest (hopefully sustainable) levels of growth. The only sector of the economy that has really grown in the last two years is government. That is the only segment of the economy that has been getting substantial raises for longer than that. I don’t encourage anyone to go to work for the government. Too often (the military excepted) that is simply another way of joining the parasite class.

Update: Unemployment is now at the highest rate since April. We all know that if a Republican were President, the MFM would be calling this what it is: Great Depression II. No end is really in sight. The housing market is dust. Now, some people are predicting a stock market crash if the tax hike isn’t killed by the 15th of December. That seems unlikely (killing the tax hike, that is; the stock market crash seems all too likely). I have not seen any news I’d deem positive in a long time.

Rodan Update:

The Obama Boom continues to roar! The greatest economic growth since the 1990’s continues it’s unprecedented pace of job creation!

WASHINGTON—The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, underlining the continued weakness in the labor market 17 months into the recovery.

Nonfarm payrolls rose by 39,000 last month as private-sector employers added only 50,000 jobs, the Labor Department said Friday. The October number was revised up slightly to show a 172,000 increase from a previous estimate of 151,000.

The unemployment rate, which is obtained from a separate household survey, unexpectedly rose to 9.8% last month. More than 15 million people who would like to work can’t get a job.

Yeah borrowing money from China, devaluing the dollar and deficit spending sure is working! This report comes as no surprise for me. The media has been hyping any improvement in the economy as signs that things are great. The reality is that thanks to our antiquated tax policies, government spending, useless wars and debt, America is the sick man of the global economy. Until we engage in massive cuts to the government, restructure the tax code to encourage investment, stop being the world’s policeman and begin to pay off our debt we will be in this situation for many years. The truth is there are no engines of jobs in America anymore that pay well. Our IT industry is decimated and wages are low there, manufacturing is a skeleton of what it was and the only jobs created are retail minimum wage jobs. The American dream is dying, but maybe this was the goal of the Neo-Feudal elite all along!

The Obama Boom Proceedeth Apace

by Iron Fist ( 46 Comments › )
Filed under Democratic Party, Economy, Elections, Politics at November 27th, 2010 - 11:00 am

MOre thant the Obama Boom, really. Look at some of the following statistics, and see how far America has fallen since the Democrats took over only four years ago:

#1 In November 2006, the “official” U.S. unemployment rate was 4.5 percent. Today, the “official” U.S. unemployment rate has been at 9.5 percent or greater for more than a year.

#2 At Thanksgiving back in 2006, 26 million Americans were on food stamps. Today, there are over 42 million Americans on food stamps and that number is climbing rapidly.

#3 According to the U.S. Census Bureau, median household income in the United States fell from $51,726 in 2008 to $50,221 in 2009. Median household income declined the year before that too. Meanwhile, prices have continued to rise throughout that period.

#4 At the end of the third quarter in 2006, 47 banks were on the FDIC “problem list”. At the end of the third quarter in 2010, 860 banks were on the FDIC “problem list”.

#5 California home builders began construction on 1,811 homes during the month of August, which was down 77% from August 2006.

#6 In 2006, new home sales in the United States were near record highs. In 2010, new home sales in the United States are at record lows as the following graph from Calculated Risk demonstrates….

Read the whole thing. There are 11 statistical points in the piece, complete with links to sources. It is a sad comentary on what happens to the United States under Democrat rule. America simply is not rich enough, nor will we ever be rich enough, to afford Democrats to rule over us. I sincerely hope that the Electorate has learned this lesson, but I am afraid we haven’t. We are still almost a fifty-fifty nation, with any given election falling on the whim of who shows up to vote and the Margin of Fraud that the Democrats are able to field.