Posts Tagged ‘unexpected’

Because Obama Radically Failing, Desperate Fed Will Soon Be Radically Bailing While Mainstream Media Is Wildly Flailing

August 24, 2012

The economy is going to hell under Obama far faster than anybody short of Cloward and Piven ever dared think.

If at first QEI doesn’t succeed and then QE2 doesn’t succeed to make up for the worst and most wicked president in American history, why try, try, try again.

Bernanke and the rest of the Federal Reserve Board keep trying to magically create enough money to keep up with Obama’s deranged socialist spending and no matter how determined they are to get the job done it just won’t go their way.  I have a feeling the Federal Reserve, in trying to deal with Obama, can relate to this scene of Cameron Diaz trying to deal with her bong:

They keep trying to add zeros to the Federal Reserve computers but they can’t seem to add the damn numbers fast enough to keep up with their psychotic president.  And they keep saying, “SERIOUSLY?!?!”

Federal Reserve leaning toward more stimulus
By Paul Handley | AFP – Wed, 22 Aug, 2012

Policy makers at the US Federal Reserve are leaning toward more stimulus action “fairly soon” unless economic data turns around, minutes from their meeting three weeks ago showed Wednesday.
 
The minutes revealed most members of the Federal Open Market Committee were concerned about slowing growth and the vulnerability of the economy to external threats, particularly economic instability in Europe.
 
“Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery,” the record of the July 31-August 1 FOMC meeting said.
 
“A number of members noted that if the recent modest rate of economic growth were to persist, the economy would be less able to weather a material adverse shock without slipping back into recession,” it added.
 
Fed members discussed the merits of different approaches to sparking more drive in the economy, from signalling that they would keep their benchmark interest rate at the current all-time low longer than currently understood, to undertaking more bond purchases aimed at pulling long-term interest rates down further.
 
Some said that a new Fed program to purchase Treasury and other bonds, pressing down their yields, “might boost business and consumer confidence”, while demonstrating that the committee remains focused on lowering unemployment while keeping inflation under control.
 
In the end, the FOMC put off any new action, but the minutes show the policy makers closer to moving on a new stimulus plan at their next meeting on September 12-13.

 Yes, it’s pretty crazy to keep trying quantitative easing over and over and over again – the definition of insanity being what it is and all – but you’ve got to see things from the Fed’s perspective: all Obama can do is fail, and fail, and then fail some more while blaming absolutely everything but his failed leadership and his failed policies for said failure.  So no matter how totally nuts QE3 is at this point, that’s pretty much all we got until we get ourselves a new president who isn’t a Marxist.

But, you know, if it makes you feel any better, Obama is spending all that money to keep losing more jobs for America:

U.S. Weekly Jobless Claims Unexpectedly Rise To 372,000
8/23/2012 8:37 AM ET

(RTTNews) – First-time claims for U.S. unemployment benefits unexpectedly showed a modest increase in the week ended August 18th, according to a report released by the Labor Department on Thursday.

The report showed that initial jobless claims edged up to 372,000 from the previous week’s revised figure of 368,000. The modest increase came as a surprise to economists, who had expected jobless claims to slip to 365,000 from the 366,000 originally reported for the previous week.

Additionally, the Labor Department said the less volatile four-week moving average crept up to 368,000 from the previous week’s revised average of 364,250.

by RTT Staff Writer

Unexpected!  Drink, ye few dying-of-cirrhosis-of-the-liver-zombies who are still left alive in this the fourth year of the mainstream media trying to cover for Obama almost as desperately as the Federal Reserve is.

One of the factoids that Obama doesn’t want you to think about is the fact that, given our population growth, ten million Americans have actually entered the work force during Obama’s presidency.  And Obama is so far behind in creating jobs for them that it is beyond unreal.  Which is why our labor participation rate is getting to the point that you just want to crawl into your own toilet and flush yourself before Obama does it for you.

Compare Obama’s abject failure and his abjectly failing “solutions” to Ronald Reagan.  And then vote like you AREN’T stupid.

Just to make sure you understand what’s going on, liberals will do whatever they’ve got to do to somehow gin up the markets before the election. Democrats will do whatever it takes to create the illusion that the country isn’t going to hell prior to election day. They’ll bankrupt the country and make our children and their children ad infinitum debt slaves to the Chinese if that’s what it takes.

For the record, I predicted that we’d be at this very point nearly a year and a half ago:

In the market itself, two things are happening: one is that banks are able to borrow money at nearly a zero percent interest rate and then reinvest it in bonds for a safe and easy profit without those risky and pesky loans to small businesses. The other thing is that there are virtually zero bankruptcies of major business and financial sector entities because they can borrow money at the aforementioned artificially low interest to keep themselves alive no matter “artificial” that life is. The moment we start to see interest rates go to their natural levels, you are going to see a giant swath of reorganizations (which is a fancy word for bankruptcies). It’s coming.

I’ve also watched as QE2 (that’s Quantitative Easing, the Obama Fed plan to manipulate interest rates by creating bogus money based on the government essentially borrowing from itself) has fed this big player stock market gluttony with artificial money creating artificially low interest rates. The last time quantitative easing ended, the market lost about 16% of its total value in about two weeks. QE2 is scheduled to end in June. You do the predictive math about what’s going to happen in June/July.

I am reminded of a rather chilling 7 minute video about a fictional scenario which is starting to look more and more like a prophecy:

The plot of the highly realistic video is that Obama’s announcment of QE4 is met with the world market finally realizing that Obama is a clueless idiot. And it proceeds to detail the unravelling of the entire financial system.

We are almost certainly going to see QE3. The only way we WON’T see QE3 is if the “experts” rename what will be virtually exactly the same thing. The liberal/progressive/socialist powers that be simply don’t have any other plan. And whether it’s QE4 or QE5, at some point the world markets will come to the same conclusion that they arrive at in the fictional video above.

Is America completely screwed in this God damn America presidency?

To answer Cameron Diaz’s thrice asked question, yes, seriously.

Advertisements

‘Unexpected’ (Drink!!!): Jobless Claims Rise Sharply During Economic Wreckovery

January 13, 2012

It is just a fact that the mainstream media treat the exact same economic data dramatically differently when hated Republicans are in the White House versus their beloved Democrats:

I wrote an article on that back in 2009.  It is amazing that with the same economic numbers, the media can demonize the side they ideologically hate and excuse the side they ideologically worship.

A couple of cartoons to depict the overwhelming media bias we constantly see from the propaganda wing of the Democrat Party:

And:

And one of the biggest keys to this unrelenting media bias is revealed in the use of the media’s favorite adjective (“unexpected”) and/or their favorite adverb (“unexpectedly”) in excusing Obama for his economic mess.

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly, hitting the highest level since late November, official data showed on Thursday. [44] The number of people filing first-time claims for unemployment insurance rose by 24,000 last week from the week before, the Employment and Training Administration reports. There were 399,000 such claims. [33]

“The retail sales and unemployment claims numbers remind us that the path to full recovery will be filled with lots of potholes,” said Joel Naroff, of Naroff Economic Advisors. [15] One-tenth of one percent increase in retail sales! “The gain was enough to push sales to a record level for 2011. It was the largest annual increase in more than a decade.” That’s not good news. (laughing) It’s 0.1%. Now, I think to put this in perspective, “The week’s unemployment applications with seasonal adjustments is disappointing. [23]

Retail sales climbed at the weakest pace in seven months in December and first-time claims for jobless benefits moved higher last week, signs the economic recovery remains shaky despite a pick-up in growth. [7] The number of people continuing to receive jobless benefits rose by 19,000 in the week ended Dec. 31 to 3.63 million. [14] Overall, 3,628,000 people were getting jobless benefits during the week ended Dec. 31, an increase of 19,000 from the preceding week, the department said. [43]

About 4.1 million unemployed Americans collect jobless benefits every week, down from about 4.8 million a year ago as the countrys sluggish economy, the worlds largest, has regained some strength. [8] Last year the economy added about 1.6 million jobs, a 50% increase from 2009. According to a survey by the AP, economists are expecting the economy to add 1.9 million jobs this year. [1] The economy gained 1.6 million jobs last year, up from 940,000 in 2010. Economists forecast roughly 1.9 million jobs will be added this year, according to a survey by The Associated Press. [38]

As the Los Angeles Times’ Don Lee reported last week, the economy still has 6 million fewer jobs than in December 2007, when the recession started and the jobless rate was 5%. At least one retailer is hiring now. [30] Even with the gains, much needs to be done toward recovering the 8.75 million jobs lost as a result of the recession that ended in June 2009. The economy “expanded at a modest to moderate pace” from late November through the end of December, while most industries saw “limited permanent hiring,” the Federal Reserve said in its Beige Book anecdotal business survey released yesterday. [14]

Despite looking a little better in previous weeks, the jobs market has a long road to recovery. The recession in 2008 wiped out 8.7 million jobs and there are around 13 million unemployed people in the U.S. That doesn’t even count the millions who gave up looking for a job. [1] I’d pass laws that say if you want to sell your goods in the U.S. then X% of your manufacturing cost of goods sold must be incurred in the U.S. This is what Bush I did for the Japanese car makers, and that worked pretty well for the U.S. I would also remove 95% of the tax loopholes (corporate and individual) and lower the overall tax rate (revenue neutral is my goal). Telling companies to be good people and manufacture in the U.S. even though their competitors use cheaper foreign labor isn’t a realistic approach because the U.S. companies would be at a price disadvantage and wind up going out of business (and the remaining U.S. workers will lose their jobs). For proof, look at WalMart – they are successful because most consumers are more worried about price than where a particular product is manufactured. [32]

Despite the rise, jobless claims have remained below 400,000, a level historically associated with an improving labor market, in nine of the past ten weeks. [21] More Americans filed initial jobless claims last week than most analysts expected, coming in at the highest level since early November. [20]

Continuing jobless claims in the week ended December 31 rose to 3.628 million, confounding expectations for a decline to 3.550 million. [21] The advance number of jobless claims jumped to 399 thousand for the first week ended January 7, 2012, the largest in six weeks, compared to 375 thousand in the earlier week thus reversing the recent fall in jobless claims. [29]

Conservatives mock this as the following comments from FreeRepublic document:

What?

All the temporary, holiday-season jobs actually came to an end after the holiday-season was over?

Who could POSSIBLY have predicted that?!

And:

Wow! The smartest guy in the world occupying the White House and Geithner never figured on this. Temporaries hired for Christmas seasonal shopping are now being laid off. What a shocker.

I’m waiting to hear the new numbers on the MSM. They sure were quick at 8.5% last week

And:

LMAO, how many times do these fools think we are going to believe that claims and the unemployment rate have gone down? And do they really think we believe that a ton of jobs were created in Dec? Even a halfwit can figure out most of the jobs in Dec are seasonal and come January the job numbers will be “adjusted” “unexpectedly”. Anyone who votes for HUSSEIN this time around, really and truly has to be stupid

And:

but but but – the unemployment rate went down???? We popped the champagne corks just last week!!!!!

Everybody, quick…stop celebrating /s/

And:

Some Pundits were still talking up the fact that it is still under 400,000. Well guess what? Next week, that 399,000 will be revised UPWARD over 400,000.

As you can see by my article here, I was mocking this “unexpected increase of jobless claims” crap a year ago almost to the day.

It doesn’t take a rocket scientist to figure this out – which just makes the mainstream media and their “analysts” all the more blameworthy.  There is something called “seasonal holiday hiring” that any fool ought to know all about.  And the simple fact of the matter is that while they are fools, they’re not stupid: had this decrease in the unemployment rate occurred during a Reagan or Bush presidency, the media would have jumped all over the “artificial” decrease being due to a surge of temporary workers.  But because it happened for their messiah, they uncorked their champagne to celebrate Obama’s magnificent leadership in bringing down the unemployment rate.

The unrelenting bias is as despicable as it is dishonest.  The media and the liberals they serve do absolutely everything they can to talk down the economy – and create economic pain – during Republican administrations by covering everything with an unfair negative slant; and then they do everything they can to talk UP the economy during Democrat administrations by covering everything with an equally unfair positive slant.

I have recently documented how bad things really are.  The major reason that the unemployment rate has dipped is because discouraged workers and people who finally exhaust their benefits are simply not counted.  When you ignore the propaganda math and look at the facts, you find that the labor force – as measured by the labor participation rate – is far smaller than it was when Bush was president.  And if you measured the unemployment rate with the same labor participation rate that George Bush had, unemployment would be 11.4 percent.

Newsweek is a hard-core liberal piece of trash, which makes this admission all the more stunning:

Evan Thomas of Newsweek was one of the few journalists who admitted that the mainstream media wanted John Kerry to win. He said media bias was worth as many as 20 million votes for Kerry. But that doesn’t mean that Newsweek is free of liberal bias. We picked up a copy of the January 10 issue and were astounded by the examples of bias contained therein.

We live in an immoral society that is on its way to a hard, hard fall.  And the degeneration and wickedness that today characterizes America is largely due to a media-fabricated culture.

Let me quote the same Evan Thomas on Obama:

Evan THOMAS: “…in a way Obama’s standing above the country, above – above the world, he’s sort of God. He’s-”

Chris MATTHEWS: “Yeah.”

Yeah, indeed, Mr. “I felt this thrill going up my leg.”  Yeah, indeed.

I keep preaching it: the beast is coming.  And when he comes, he will be a big government leader who will be celebrated and worshiped on an even grander scale than our media celebrated and worshiped Obama.  The coming Antichrist will literally be worshiped as “God” (see Revelation 13:8) and the mainstream media will lead the way toward establishing that demonic worship.  And Democrats will adoringly vote for him – and bring upon America the full fury of the wrath of God that we are already beginning to see in God damn America.

Jobless Claims Rise ‘Unexpectedly’: Don’t Make This A Drinking Game Or You’ll Die

January 14, 2011

The mainstream media have made sure the word of the 2nd decade of the 21st century will be “unexpected.”  With “unexpectedly the top adverb.

I liked Indylindy’s take on the following story best:

Silly people, don’t you know the whole nation was healed last night? Who gives a damn if we have jobs?

We have Barry. /sarc

From Reuters:

Instant View: Jobless claims jump most in 6 months
NEW YORK | Thu Jan 13, 2011 9:03am EST

(Reuters) – U.S. jobless claims jumped unexpectedly last week to their highest level since October, suggesting the labor market is still in a rut despite signs of improvement in the economy.

The U.S. trade deficit narrowed unexpectedly in November as exports climbed to the highest level in more than two years, government data showed on Thursday.

U.S. producer prices rose more than expected in December as energy and food costs surged while underlying inflation remained subdued, highlighting a divergence that complicates the outlook for monetary policy.

KEY POINTS: * The number of Americans filing for first-time unemployment benefits rose to 445,000 from an upwardly revised reading of 410,000 in the prior week, the Labor Department said. * It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000. * A Labor Department official noted the rebound occurred following the holidays, which may have hindered reporting of new claims and created a backlog. * The trade gap dipped to $38.3 billion from $38.4 billion in October, the Commerce Department reported. * Analysts surveyed before the report had expected the November trade deficit to widen slightly to $40.5 billion from October’s originally reported $38.7 billion. * November’s deficit was the lowest since January 2010. * Prices at the wholesale level climbed 1.1 percent after a 0.8 percent rise in November, the Labor Department said. * Economists had been looking for a repeat of that 0.8 percent advance in December. * Inflation excluding food and energy, however, rose just 0.2 percent, in line with forecasts. That left the year-on-year gain in core producer prices at 1.3 percent, just below analyst estimates.

If you are playing a drinking game using the word “unexpectedly” please stop immediately.  Because your liver will never last the final two years of the Obama presidency.

“U.S. jobless claims jumped unexpectedly…

Drink…

And yes, I mean your Kool Aid has been spiked.

Another factor that isn’t getting anywhere nearly enough media coverage is inflation.  As the economy continues to falter under Obama’s failed policies, those unemployed people are facing higher and higher food and fuel prices.

Conservatives were saying throughout the 2008 campaign that “hope and change” were never concretely defined.  Well, two years into Obama, you get to see what “hope” and “change” looks like.  Still liking it?

If you voted for Obama, you deserve to starve in the dark and cold.  It’s those poor suckers who opposed his regime who are now suffering its effects anyway that I pity.

Democrats and mainstream media “journalists” continue to “blame Bush” for the fact that the unemployment rate increased 34.2% from when Bush left office under Obama’s watch.  Their demagogic “Don’t blame us for our policies” rhetoric reminds one of the old communist Soviet Union, whose miserable agricultural performance was attributed to 72 years of bad weather.

The mainstream media has no intention whatsoever of being objective or honest when it comes to covering the results of Obama’s economic policies.  When Republicans are running things, even good news is depicted as bad news, with stories about fears of what could happen, but whenever a Democrat is in charge, even the very worst news must be wrapped in some sort of positive context.

The “unexpected” is “expectedly unexpected” once you learn the constant bait-and-switch games the media plays to the Democrat White House’s fiddling tune.

Last month, when there would have been your usual Christmas hiring.  But the media didn’t point out that the unemployment rate reflected 1) a very temporary blip due to phenomena such as Christmas hiring followed by New Years layoffs, and 2) the even more frightening fact that the rate was mostly impacted by people who were so discouraged they’d stopped looking for work:

But the job growth fell short of expectations based on a strengthening economy. And the drop in unemployment was partly because people stopped looking for work. […]

But other factors can affect the unemployment rate, at least temporarily. One key reason for the drop was that the government no longer counts people as unemployed when they stop looking for work.

But the only thing that mattered to most mainstream media organizations was that that way-too-close-to-10% number went down from 9.7% to 9.4%.  And that favored Obama.  So they went out and sang songs of rejoicing about it.

It would have been quite easy to put a Republican spin on that employment story of December: Republicans win the biggest victory since 1928, and all of a sudden the unemployment rate takes a huge drop as businesses realize that there will be somebody to stop a president and Democrat Party out to destroy businesses.  But I’m not like the mainstream media: I don’t delete any of my stories, and people actually hold me responsible in comments.  And I held off on pimping the good job numbers because I was pretty sure that the “good” unemployment statistic was nothing more than a temporary blip that was being pimped by liberals.

Unemployment Rises To 9.8% – When Will Obama Failure Quit Being ‘Unexpected’?

December 4, 2010

“Unexpected” is the very favorite adjective of the mainstream media these days.  And it will continue to be their favorite adjective until Obama is finally driven out of office in the same spirit of disgrace and abject failure that Jimmy Carter left under.

When a Democrat – and most especially when a liberal Democrat – is president, every single new negative economic report is an utter surprise that no one could possibly have every expected.

When a Republican is running the country, by contrast, no matter how good things might be, it’s actually a bad thing.

The media’s bias is simply mindboggling.  As I have frequently documented:

Media’s Bias, Dishonesty Re: Reagan Vs. Obama Unemployment Bodes Ill For America

And as researches have proven with media studies:

Partisan Bias in Newspapers?  A Study of Headlines Says Yes

An article titled, “Stocks Fall… Unemployment Rate Rises… Factory Orders Down” sums up the Obama economy:

NEW YORK (AP) — Stocks have begun the trading day down, with a disappointing jobs report souring investors’ mood. The Dow, the Nasdaq and the S&P 500 are all seeing modest declines in early trading.

WASHINGTON (AP) — Economists had expected better, but the Labor Department reports the nation’s employers added only 39,000 jobs last month. That was a sharp drop from the 172,000 created in October. It also pushes the nation’s unemployment rate to 9.8 percent. It’s now been above 9 percent for 19 straight months, the longest stretch on record.

WASHINGTON (AP) — The Commerce Department reports orders to U.S. factories fell 0.9 percent in October. That’s the biggest drop since May. Plunging demand for commercial and military aircraft was the biggest factor. Excluding transportation, orders were off 0.2 percent.

But here we are.  With our most current “Unexpected Update To Unexpected Unemployment News.”

A Labor Department report released today reveals job creation in November was down by 133,000 jobs from October, bringing the total unemployment rate up to 9.8 percent.

This was a declared the most recent Unexpected Development in our long unemployment saga by the media.  Private-sector job creators are facing massive tax hikes, which the President and his Party say they will defend to the bitter end.  The cost of labor has skyrocketed due to a poorly designed, constantly mutating health care bill, which keeps spitting out unforeseen, but universally expensive, consequences.  Somehow there are “analysts” who think they will respond to these factors by expanding their operations and hiring more people.  Such analysts now live in a constant state of surprise.

Only 39,000 jobs were added in November, which makes it the sixteenth consecutive month in which unemployment has remained above 9.5%, the worst record since the Great Depression.  You may recall that the Democrats predicted 7% unemployment by now, after a peak below 8%, if their trillion-dollar “stimulus” bill was passed.  The Republican House Ways & Means Committee certainly does, and put out a press release to that effect this morning.

The ABC News report of the new unemployment figures contains an interesting quote from Daneil Pedrotty, director of the AFL-CIO’s Office of Investment, who thinks employers are squeezing more work out of few people by exploiting a “climate of fear”: “There are five applicants for every opening.  You have to work harder, or your job either will be done away with or outsourced.  Companies would just as soon open a factory in India as Peoria.”

No, they wouldn’t, or they already would have done so.  No CEO looks at pins in Peoria and Calcutta on a world map, shrugs, and says “Whichever.  I don’t know, flip a coin.”  They choose Calcutta because they have to.  They outsource when hiring American workers, or building facilities on American soil, no longer makes economic sense.  Both sentiment and practical considerations cause them to prefer American locations.  No sane executive would prefer to manage facilities on the other side of the world, commuting thousands of miles for meetings or inspections.  If companies truly would “just as soon open a factory in India as Peoria,” there has been very little stopping them for decades.  Are we supposed to believe America just keeps winning those coin tosses?

Furthermore, the idea of reducing personnel needs by enslaving current employees through a “climate of fear” is ignorant rubbish.  Anecdotal cases surely exist, but the bulk of job creation, on a national scale, is a response to demand. The ABC report makes much of the contrast between falling job creation and rising corporate profits, missing the point that long-term hiring decisions are made in anticipation of future opportunity.  Uncertainty breeds hesitation and thwarts expansion.

Look at it this way: suppose the government simply hired everyone, and guaranteed them a splendid income.  What would they all do? The government could give them make-work jobs, but this would not be a response to demand, so it wouldn’t last very long.  Every aspect of the economy, from consumer prices to interest rates, would be thrown wildly off kilter by a horde of people getting paid $30,000 per year to do whatever a government bureaucrat can think up… or more likely do nothing at all while waiting for the Federal Bureau of Imaginary Jobs to come up with something.  The government would quickly go bankrupt, while citizens waiting in line to buy ten-dollar loaves of stale Wonder Bread.  You don’t have to imagine what this looks like – just crack open a history book and look up “Soviet Union.”

Only demand and opportunity sustain job growth.  People need each other.  The only way government can help them hook up, and generate wealth through commerce, is to get out of the way.  Wise observers will expect robust, sustained job growth when they see signs of that happening.

This marks the nineteenth consecutive month of unemployment being over 9%.  The media continues to vilify George Bush, but do you know how many months the unemployment rate was over 9% during the Bush administration?  Try ZERO.

The worst month for unemployment for George W. Bush was 7.8% – which, interestingly, was the same worst month as Bill Clinton (who, as we all know, paved the streets with gold) had.

Nineteen straight months of 9+ percent unemployment.  Versus zero months.  So we blame the guy with the zero months for the record of the guy with the nineteen straight months.  And this from the very people who constantly harp about “fairness.”

Let’s blame the guy who had an unprecedented 52-consecutive months of job growth, rather than consider the policies of the guy who has clearly imploded our economy.

Let’s blame the guy who had one of the best records for appointing people with private sector business experience, rather than the guy with the worst record in history:

Whatever we do, let’s NOT blame the guy who doubled and then tripled the debt in the most massive spending binge in American history:

This ‘Blame Bush’ Crap Has Just GOT To End

George Bush inherited the policies that led to the 9/11 disaster only months into his presidency.  George Bush inherited the Dotcom disaster that wiped out 78% of the Nasdaq index along with $7.1 trillion in American wealth that was just vaporized as a result of Bill Clinton’s economy.  And rather than spend the next two years blaming his predecessor, Bush cut taxes and turned the economy around.  At least until Democrat policies such as the Community Reinvestment Act and Democrat refusal to reform and regulate Democrat-created Fannie and Freddie brought America crashing down.

Why don’t we blame the president who actually sued banks to force them to make bad loans to people who couldn’t afford the home loans that the banks were forced to provide???

By the standard the Democrats used to demonize George Bush in 2004, Barack Obama is the worst president in American history.

But the media prefers “the unexpected” to “the truth.”

For the record, I am rather fed up with “unexpected” lousy economic news that anyone with a scintilla of common sense saw coming before Obama even took office.

On The Most Pathetic ‘Economic Recovery’ In History

April 19, 2010

Barack Obama began his presidency by fundamentally misunderstanding the economy.  There is absolutely no evidence whatsoever that he’s understood it one iota better since.

Let’s start where Obama started, with his massive stimulus.  You know, the stimulus that everybody on the left said would cost “only” $787 billion.  It didn’t take long before it suddenly cost “only” $862 billion.  And by the time it’s all said and done, the real total cost of the stimulus which will actually be a $3.27 trillion porker before all is said an done.

Obama sold his porkulus boondoggle as something that would solve the unemployment problem.  It didn’t.  In fact, it actually CONTRIBUTED to high unemployment, when one looks at the evidence.

The following chart – which was created by the Obama administration to sell the stimulus package – proves that Obama couldn’t have got it more wrong:

In other words, by Obama’s very own measure, unemployment is HIGHER than it would have been if he’d done NOTHING.

Even the reliably liberal Time Magazine realized what a failure Obama’s stimulus was, with an article entitled, “Obama’s Stimulus Plan: Failing By It’s Own Measure.”

Democrat Senator Evan Bayh summed up Obama’s failed economic policies, saying:

“[I]f I could create one job in the private sector by helping to grow a business, that would be one more than Congress has created in the last six months.”

According to a recent New York Times/CBS poll, a whopping 94% of the American people agree with Bayh. Only 6% of Americans believe Obama’s massive porkulus has created jobs a full year after going into effect.

Only SIX PERCENT of Americans believe that Obama’s porkulus has created any jobs at all.  That means more Americans believe that space aliens have anally probed them than believe in the stimulus.  It also means that 94% think Obama and his entire administration and the entire Democrat congressional leadership are completely full of crap.

With all due respect to Obama’s spin and the mainstream media’s propaganda that things just keep getting better and better, we keep getting stories like this:

Jobless claims in another surprise surge
By Chavon Sutton, staff reporterApril 15, 2010: 9:35 AM ET

NEW YORK (CNNMoney.com) — The number of Americans filing for unemployment insurance for the first time jumped for the second week in a row, according to government data released Thursday.

There were 484,000 initial jobless claims filed in the week ended April 10, up 24,000 from an unrevised 460,000 the previous week, according to the Labor Department’s weekly report.

Well, at least they didn’t say “unexpected.”  Like pork to chicken as “the other white meat,” we can call the word “surprise” the mainstream media’s “other favorite adverb” to describe Obama’s unemployment rate.

A Washington Post writer presents the spirit of the constant stream of media excuses in the manner of a master of understatement:

Economists suggest the spike in claims could be related to the Easter holiday. Each week, it seems, there’s some sort of anomaly that affects the new jobless claims — the big February snows, the March snapback from the big February snows, the Easter holiday — so it’s hard to get a good handle on the real jobless picture in the U.S.

When excuses fail, the left resorts to demagoguery and fearmongering.

We might see a recovery.  Count how many times the U.S. had a recession we never got out of.  But even by Obama’s own analysis, any recovery will be a “jobless recovery,” with joblessness remaining shockingly high throughout his presidency.  And the grim scenario of a “W-shaped” recession looms larger and larger.

All that said, an article by Mike’s America at Flopping Aces asks the right question given all the propaganda and spin:

Does This look like an Economic Recovery to You?
by: Mike’s America

A failed $trillion stimulus and few, if any new jobs is Obama’s economic legacy!

Did you see these headlines last week?

UPI: Calif. unemployment hits record high
AP: Florida unemployment hits record high

California’s unemployment hit 12.6% and Florida’s is 12.3%.

And where was Obama when this dire news was about to hit? He was in Florida telling spaceworkers he was canceling much of the manned space program which means a loss of thousands more of the most highly skilled jobs in both Florida and California’s aerospace industries, not to mention Texas.

The past nine months Obama has talked about little else other than health care. Meanwhile, millions of Americans remain out of work. If a Republican President were in the White House we’d read daily stories about the toll of human suffering wrought by the President’s economic policy. But with Obama in the White House the “news” media hardly notices unemployment or discusses the lack of any effective jobs policy coming from Democrats.

From House Ways and Means Republicans:

48 of 50 States Have Lost Jobs Since Democrats’ Stimulus
Friday, April 16, 2010

While the President recently said the economy had “turned a corner,” it’s hard to tell that from looking at the job situation across the U.S. According to the latest data from the U.S. Department of Labor, and the chart below, through March 2010 a total of 48 out of 50 States had seen net job losses since the President signed the Democrats’ stimulus plan into law in February 2009. The data show that only Alaska, North Dakota and the District of Columbia have seen net job creation since then. And (other than the perhaps predictable exception of D.C.) those states that have seen some increases in jobs are still well short of the growth the White House originally forecast. Additionally, over 3 million jobs have been eliminated since the Democrats’ stimulus, unemployment remains stuck at 9.7 percent instead of 7.4 percent and falling as Democrats predicted, and a record 16 million Americans are out of work.

To see how the Democrats’ stimulus has failed your state, see the table below.

State Administration Claims of Change in Jobs Through December 2010 Actual Change in Jobs Through March 2010
Alabama +52,000 -61,200
Alaska +8,000 +3,800
Arizona +70,000 -100,300
Arkansas +31,000 -17,800
California +396,000 -558,900
Colorado +59,000 -86,700
Connecticut +41,000 -41,100
Delaware +11,000 -11,500
District of Columbia +12,000 +10,000
Florida +206,000 -203,700
Georgia +106,000 -139,400
Hawaii +15,000 -12,000
Idaho +17,000 -18,200
Illinois +148,000 -187,900
Indiana +75,000 -59,700
Iowa +37,000 -25,200
Kansas +33,000 -47,600
Kentucky +48,000 -29,500
Louisiana +50,000 -39,300
Maine +15,000 -11,200
Maryland +66,000 -31,400
Massachusetts +79,000 -69,800
Michigan +109,000 -121,200
Minnesota +66,000 -62,300
Mississippi +30,000 -26,000
Missouri +69,000 -65,600
Montana +11,000 -6,200
Nebraska +23,000 -17,000
Nevada +34,000 -68,800
New Hampshire +16,000 -3,700
New Jersey +100,000 -85,300
New Mexico +22,000 -22,400
New York +215,000 -143,300
North Carolina +105,000 -91,800
North Dakota +8,000 +900
Ohio +133,000 -178,900
Oklahoma +40,000 -50,700
Oregon +44,000 -53,200
Pennsylvania +143,000 -117,700
Rhode Island +12,000 -14,100
South Carolina +50,000 -25,600
South Dakota +10,000 -6,600
Tennessee +70,000 -73,100
Texas +269,000 -211,000
Utah +32,000 -30,500
Vermont +8,000 -5,300
Virginia +93,000 -75,000
Washington +75,000 -84,000
West Virginia +20,000 -16,600
Wisconsin +70,000 -94,100
Wyoming +8,000 -11,800

California’s unemployment rate is now the highest it has ever been since 1940 and the Great Depression.

The California jobless rate of 12.6 percent for March was slightly higher than the 12.5 percent level reached in February.

Still, that was the worst California unemployment level in nearly 70 years, stretching back to the Great Depression. December 1940 marked the last time California staggered to the dismal milestone of a 12.6 percent jobless rate.

It was 9.3% when Obama took office.  Which is to say, unemployment has increased by 35.5% since Obama began to “fundamentally transform” things.

California is a huge chunk of the U.S. economy.  It is the eighth largest economy on the planet all by itself.  And it represents 13% of the entire U.S. economy.  In every single other recession the U.S. has ever had, it was California that led the country out.  This time, under Obama, it is California which is lagging the farthest behind, with only two states having a higher level of joblessness.

Right now, California is poised to go the way of Greece – and Greece fell into a black hole of total economic collapse.

And Florida – the fourth most populous state with the fourth largest economy in the nation – isn’t in much better shape.  It’s unemployment rate under Obama’s “Wonder Boy” management is the highest it has ever been in history.

MIAMIFlorida’s unemployment rate reached an all-time high for the second straight month at 12.3 percent in March.

The figures released Friday by the Agency for Workforce Innovation show a marginal increase from February’s rate at 12.2 percent.

If these two giant states’ economies go boom – and it is very possible indeed that they WILL go boom – then the U.S. economy is doomed.  They are too big to fail, and too big to save.  The Louisiana Purchase?  The Cornhusker kickback?  You aint seen NOTHING yet!  Get ready for the Mother of All Bailouts, suckers.

All this to say, it’s time to ponder the previously content-free Obama campaign slogan “Hope and Change.”  “Change” would be a return to the Great Depression by the same policies that the president pursued during the LAST Great Depression.  And “Hope” is hoping that history doesn’t repeat itself.

April 8 CNNMoney Headline: ‘Jobless Claims Soar’

April 9, 2010

Let’s see: new home sales plunge to their lowest levels since 1963, while jobless claims soared to the highest levels seen since December 2008 (when Obama was routinely comparing the economy to the Great Depression).

Clearly, everything is just going swimmingly under Barry Hussein.

Jobless claims soar
By Chavon Sutton, staff reporterApril 8, 2010: 11:59 AM ET

NEW YORK (CNNMoney.com) — The number of Americans filing for unemployment insurance for the first time jumped last week, according to government data released Thursday.

There were 460,000 initial jobless claims filed in the week ended April 3, up 18,000 from an upwardly revised 442,000 the previous week, according to the Labor Department’s weekly report. […]

The report also said that 4,550,000 people filed continuing claims in the week ended March 27, the most recent data available. That figure, the lowest level since Dec. 20, 2008, was down 131,000 from the preceding week’s 4,681,000 claims, and below the 4.63 million economists expected, according to Briefing.com.

The 4-week moving average for continuing claims was 4,648,250, a decrease of 36,000 from the preceding week’s revised average of 4,684,250.

Continuing claims data exclude people whose benefits expired or those who have moved to state or federal extensions. It reflects those filing each week after their initial claim until the end of their standard benefits, which usually last 26 weeks.

The numbers forced the Associated Press to trot out their favorite Obama-apologist adverb.  They said “jobless claims increased ‘unexpectedly.’

Last week Obama was trumpeting government unemployment numbers that did not budge the 9.7% unemployment rate as if all his asinine policies had somehow been vindicated:

“Today is a promising day,” Mr. Obama told workers assembled inside Celgard LLC, the Charlotte, N.C.-based company that makes parts for high-tech batteries. “We are beginning to turn around. More Americans are now getting up, getting dressed and going to work.”

But however the government did its calculations, private payrolls actually fell in March.

The illusory numbers Obama trumpeted were front-page headlines for the major media.  But then the usual “unexpected” revisions come, and the liberal propaganda machine suddenly loses interest in the story.

Meanwhile, underemployment, which many economists view as the “real” unemployment measure, increased to 20.3%.  When people give up looking for work, or finally give up and settle for a job far beneath their potential, they “fall” off the jobless rolls.  We could actually have Great Depression unemployment levels, and still show artificially low unemployment numbers. Discouraged workers who give up are not counted in official unemployment statistics, and over a million unemployed workers aren’t being counted.

The fact is that a total of 6,130,000 workers had been unemployed for 27 weeks or more in December 2009, the most ever since the data were first collected in 1948, and more than double the 2,612,000 unemployed for a similar length of time only a year ago.  Does that sound like Obama is succeeding???

People said of the Great Depression: “It wasn’t so bad if you had a job.”  FDR kept optimistically promising that relief was just around the corner.  Meanwhile, his policies prolonged the depression by seven years until finally even his own Treasury Secretary said:

“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong… somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises… I say after eight years of this Administration we have just as much unemployment as when we started… And an enormous debt to boot!” – Henry Morganthau, FDR’s Treasury Secretary, May 1939

In April 1939 unemployment was 20.7%.

Obama keeps telling us how magnificently we are recovering, and the dinosaur lamestream media keeps reporting it as if it were true.

Meanwhile he keeps piling on shocking and totally unsustainable deficit levels that will ultimately implode the U.S. into a Great Depression unlike anything we have ever seen.

But under Obama, unsustainable is the new normal.

When we  finally awaken to our sobering senses, we will find we have been led by the nose and duped by lies.

Harry Reid: When Democrats Run The Country, 36,000 Jobs Lost Is Good News

March 6, 2010

We must be in the Chinese hell of Incredibly Low Expectations.

Updated March 05, 2010
Reid: 36,000 Lost Jobs in February ‘Really Good’

FOXNews.com

Senate Majority Leader Harry Reid is catching heat for portraying Friday’s labor report showing 36,000 jobs lost in February as “really good” news.

Senate Majority Leader Harry Reid is catching heat for portraying Friday’s labor report showing 36,000 jobs were lost in February as “really good” news.

“Today is a big day in America. Only 36,000 people lost their jobs today, which is really good,” Reid said Friday on the Senate floor.

Republicans drew attention to the remark, which was captured in a YouTube clip, while bloggers railed against the Nevada Democrat.

Other officials appeared a bit more tactful in their interpretation of the February jobless numbers, which showed the unemployment rate holding steady at 9.7 percent despite prior suggestions that February’s record snowfall might drive that number up.

President Obama called the report “better than expected,” but he added that the number of unemployed is still “more than we should tolerate.”

House Majority Leader Steny Hoyer noted that in February 2009, the country lost 700,000 jobs, and that the past month’s report shows job losses are slowing.

“Nevertheless, millions of Americans remain out of work, and Congress will continue to focus on creating jobs,” Hoyer said in his written statement.

Did somebody say “Youtube“?

“Unexpected” has become the mainstream media’s favorite economic adverb.

I guess they got sick of things always being worse than “expected” with Obama.  So now they say it might be really bad, and then terrible news becomes REALLY GOOD news.

There’s another important measure of unemployment that went the opposite way of down, Harry.  From the Washington Post:

Truer unemployment rate rises to 16.8%

Don’t be fooled by the fact that the official U.S. unemployment rate in February remained unchanged from January at 9.7 percent.

The truer measure of unemployment in the United States rose from 16.5 percent in January to 16.8 percent in February.

There are a lot of people who have used up their benefits and simply dropped off the roles.  Some of these people who would like a job very much haven’t had one in two years.  The rate measuring these people went up to 16.8%.  Which is to say that more than one out of every six Americans are either completely unemployed, or are stuck in part-time jobs when they would like to be full time.

That isn’t realy good at all, Harry.

In other jobless news, you also have to hand it to Obama for defeating that terrible job-killing snow such that unemployment didn’t rise by as much as some thought it would.  That damn global warming! As we know, snow is something that this country has rarely ever seen, which makes it perfectly okay to blame bad economic numbers on the weather even though we’ve never ever done anything like that to explain bad unemployment figures for someone like – oh, I don’t know – like George W. Bush.  But I’m confused: should we blame Bush like we’ve BEEN doing for everything bad that has happened, or should we blame snow?

Well, shoot, it’s Winter.  Let’s blame the snow now, and then return to blaming Bush in the Spring.  We’ll give Bush derangement syndrome a rest for a couple of months, and that way when we start blaming him again it will seem fresh and new again.

Now, if the mainstream media can only allege that Dick Cheney has a weather machine in his basement, we could blame Bush for the snow, too.

The way the rationalization campaign of Obama’s mishandling of the country as “really good news” is going, pretty soon it will be, “Well, Obama didn’t start a nuclear war today.  And I consider that really good.”

Of course, on the down side, Obama’s not far from suffering from that failure, either.

Hey, kids, here’s a game you can play at work: try telling your boss that you’re going to lose $fifty thousand dollars of his money Monday.  And then when you only lose $36,000 of his money, he’ll immediately be thrilled about how well you did.