Posted by
ApolloSpeaks on Saturday, December 03, 2011 10:39:04 AM
The economic failure of this profoundly reckless and incompetent president can be measured by the astonishing degree of economic pessimism gripping consumers, employers, and investors. In truth, there was more economic optimism during the Great Depression than there is today.
Left Turn writes:
"HEY, APOLLO
Did you hear the good news? The unemployment rate dropped from 9% to 8.6%. The lowest unemployment figures since March 2009. Looks like your predictions about a one term presidency are going down the drain. We're on the road to economic recovery and Obama's reelection in 2012."
My reply:
Hey LT did you hear the terrible news? The drop in the jobless rate is bogus and due to statistical White House trickery. The unemployed are either looking for work or not looking for work; during the Great Depression both were included in the unemployment roles, in the Obama era they are not. The jobless who have stopped looking for work are excluded by Obama's Labor Department from unemployment statistics. 315,000 Americans who lost their jobs since the 08 crash stopped looking for work last month-the main reason for the drop. To its credit Huffington Post refusing to go along with the pro-Obama spin media called the report for what it is, "A JOBS MIRAGE (see)." If everyone who lost their jobs stopped looking for work the unemployment rate would drop to zero, and the liar in chief would claim to be the greatest jobs president in US history. If we were to measure unemployment like it was done during the Great Depression we would be at 12% or higher; if the underemployed were factored in (those wanting full time work working shorter hours) it would be over 16% as many economists say (see). In reality we are in a jobs depression. In reality Obama is failing badly. In reality using phony jobs statistics can't put America back to work or save his presidency.
There is a darkening cloud of economic gloom gathering over the horizon with 48% of the public seeing a second Great Depression ahead (see). No economy can recover with so much fear, uncertainty, and pessimism over the future. Consumers won't spend, employers won't hire, and capitalists won't invest without optimism and confidence in our economy and leaders. The President with his soaring deficits and debt, class warfare rhetoric, and overall economic mismanagement is the GREAT DEPRESSOR and losing the future for America.
Zuckerman: Real Unemployment
and