Unemployment back above 9%

[whell]

The addition of fewer jobs than expected, plus an unexpected bump in new unemployment claims, pushes unemployment back up. It also signals what many are suggesting is the second dip of a "double - dip" recession.

Some of the slowdown can certainly be traced to Japan, and the earthquake's impact on their production. Some of my clients have been impacted by this, and one client (headquartered in Japan) has laid off most of their staff due to parts shortages.

However, I'd also suggest that our continued lack of commitment to any near term supply side domestic energy policy, and QE1 and 2, are also prompting this. Inflation due to high gas prices and the expansion of the money supply is becoming more evident. The fact that short term rates remain at or near zero is continuing to "degrease the skids", and keep much needed capital out of the market.

We need to change direction, and soon.

[CarlV]

Originally Posted by whell

We need to change direction, and soon.

Yep, the compromises made to the GOP were foolish and Dem's should have stood ground. No doubt about it.
Nice to see Romney flapping away about everything except nothing for how he will fix it all besides preparing a nice batch of Romney-care waffles.


Carl

[whell]

Originally Posted by CarlV

Yep, the compromises made to the GOP were foolish and Dem's should have stood ground. No doubt about it.
Nice to see Romney flapping away about everything except nothing for how he will fix it all besides preparing a nice batch of Romney-care waffles.


Carl

This response doesn't make sense to me. What do the lack of tax increases have to do with inflation? Or QE 1 an 2? Or domestic energy policy?

[BlueStreak]

Everything is a signal of the "double dip", for those who WANT it to happen, for political reasons.

Dave

[merrylander]

I guess we will just have to wait for the 2012 elections. If the GOP wins Wall Street and Friends will open the taps and jobs will appear. If the Dems win there will simply be more of that droning whine from the boredrooms of America while they sit around counting their ever increasing profits.

[BlueStreak]

Originally Posted by merrylander

I guess we will just have to wait for the 2012 elections. If the GOP wins Wall Street and Friends will open the taps and jobs will appear. If the Dems win there will simply be more of that droning whine from the boredrooms of America while they sit around counting their ever increasing profits.

Oh, so I'm not the only one that's noticed?

Dave

[piece-itpete]

Sadly, the Dems in Congress are wealthier than the GOP reps, and I thought the blue states wealthier than the red?

They didn't get the memo

Pete

[CarlV]

I have no answer to our stupidity of being oil dependent to the point of blood for oil and the short sightedness of dismantling what public transit we do have left and forcing people to drive in their cars, mostly solo, whell.
Sure does keep Exxon and them guys busy and rich though. Drill baby drill!

We put 80 billion into GM and Chrysler at a cost of 14-16 billion creating 112.000 jobs and growing via the trickle up theory. Good paying jobs, more taxpayers paying taxes on good wages, everybody wins. So what do we do? we borrow and give an 81 billion extansion of Bush tax cuts that hasn't nor ever will do an effing thing to benefit our country. Could have put that into fixing our rusted out bridges and potholed freeways and made more good wage paying taxpayers and more trickle up. Get our crumbling infrastructure repaired too rather than as needed and having to borrow emergency funds.

We are a foolish lot.


Carl

[whell]

Originally Posted by BlueStreak

Everything is a signal of the "double dip", for those who WANT it to happen, for political reasons.

Dave

I think some of the folks on the "left side" of the aisle are worried about it too. What's their agenda?

[piece-itpete]

It's the anti-Kenyan wing behind it

Pete