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This is what a recovery looks like?
#1
Economy still sucks


Quote:WASHINGTON (AP) — The job market is defying history.
A dismal June employment report shows that employers are adding nowhere near as many jobs as they normally do this long after a recession has ended.
Unemployment has climbed for three straight months and is now at 9.2 percent. There's no precedent, in data going back to 1948, for such a high rate two years into what economists say is a recovery.
The economy added just 18,000 jobs in June. That's a fraction of the 90,000 jobs economists had expected and a sliver of the 300,000 jobs needed each month to shrink unemployment significantly.
The excruciatingly slow growth is confounding economists, spooking consumers and dismaying job seekers. Friday's report forced analysts to re-examine their assumption that the economy would strengthen in the second half of 2011.
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#2
that's what you get putting your trust in the goodness of hearts of investors, and their gratefulness for the most generous tax cuts instead of forcing them to create jobs; and the free-market crap in general. the model republican blockhead can blame obama of course.
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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#3
Quote:that's what you get putting your trust in the goodness of hearts of government, and their gratefulness for the most generous tax increases since they can't create jobs; and the socialist crap in general. the model liberal blockhead can blame Bush of course.


Fixed that for you...
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#4
do you realise that investors and government, and bush and obama are quite the same? since there haven't been tax-increases for more than 10 years, can we dismiss 'tax increases' as huh-what? manure?
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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#5
Do you realize that the government being so involved in the economy is largely what caused our problems? Didn't think so...
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#6
(07-09-2011, 01:00 PM)Huh...What? Wrote: Do you realize that the government being so involved in the economy is largely what caused our problems? Didn't think so...
Here in Canada our financial markets and banking system are more heavily regulated than in the United States, and we largely averted a crisis. Government was our salvation.

The real tragedy is that your federal government did not have the foresight to intervene in the economy and protect borrowers. The recession and banking collapse was due to the very absence of effective state regulation.
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#7
Quote:The real tragedy is that your federal government did not have the foresight to intervene in the economy and protect borrowers.

I'm guessing you haven't actually paid any attention to what caused the housing crash in the US. The US government was actually encouraging lenders to make high risk loans to people who never should have gotten them to begin with. Protect the borrowers? The government were the ones who shoved the economy into the crapper.
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#8
(07-09-2011, 02:11 PM)Gommi Wrote: Here in Canada our financial markets and banking system are more heavily regulated than in the United States, and we largely averted a crisis. Government was our salvation.

Government is every Statist's idea of salvation. On the surface it looks like it will work, but statists, such as yourself Gommi, forget about that little thing Bastiat told everyone about: the unseen. You guys never seem to be able to understand the Law of Unintended Consequences, and the things hiding under the surface, that Aren't staring you in the face.

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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#9
Gommi said:
"The real tragedy is that your federal government did not have the foresight to intervene in the economy and protect borrowers."

Like the Irish government did? And look what happened.

"The .... banking collapse was due to the very absence of effective state regulation."

That could well be true, but the banks were encouraged by the gov't to lend to folks who were not credit worthy, even threatened if they did not. This is the antithesis of good regulation, which concerns itself with down payments on mortgages, proper bank reserves , proper valuations of loans already made (mark to market is a destabilizing positive feedback), sufficient reserves, etc. In fact, Fannie and Freddie which buy and repackage loans from banks, effectively take the risk of loan default away and give more $ to the banks to make even more bad loans.

Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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#10
You guys want to see a real recovery in the US? Where do you think it is coming from anyway?

If you say the Energy field, YOU WIN! But wait, where in the energy field? According to the Bamster, it is in the Green part of the field, right? Well its not: its in the old time field of oil and natural gas.

Quote:So President Obama was right all along. Domestic energy production really is a path to prosperity and new job creation. His mistake was predicting that those new jobs would be “green,” when the real employment boom is taking place in oil and gas.

The Bureau of Labor Statistics reported recently that the U.S. jobless rate remains a dreadful 9%. But look more closely at the data and you can see which industries are bucking the jobless trend. One is oil and gas production, which now employs some 440,000 workers, an 80% increase, or 200,000 more jobs, since 2003. Oil and gas jobs account for more than one in five of all net new private jobs in that period.

The ironies here are richer than the shale deposits in North Dakota’s Bakken formation. While Washington has tried to force-feed renewable energy with tens of billions in special subsidies, oil and gas production has boomed thanks to private investment. And while renewable technology breakthroughs never seem to arrive, horizontal drilling and hydraulic fracturing have revolutionized oil and gas extraction—with no Energy Department loan guarantees needed.

___________________________________________________________________________________________________
"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#11
The copper company I work for is hiring like mad right now.
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#12
(11-28-2011, 02:58 PM)Huh...What? Wrote: The copper company I work for is hiring like mad right now.

That will collapse when the Chinese economy does. According to the WSJ, the manufacturers purchasing index for China is 50.4%. Below 50% denotes a contraction, not so far away.

If the Chinese bubble breaks, expect an effusion of "interesting times".

Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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