Korean Job Discussion Forums

[Ya-ta Boy]

For the period of time when the stock market was going down and unemployment was going up, certain elements were saying, "It's Obama's economy."

Now we see:
-- Job losses slowed to 247,000, their lowest total since a year ago, beating expectations by roughly 100,000.
-- The unemployment rate actually *declined* to 9.4 percent from 9.5
percent.
-- May and June job loss estimates have been revised *downward*.
-- Hourly earnings improved.
-- The average workweek lengthened, particularly in manufacturing.
-- The manufacturing sector added jobs on a seasonally-adjusted basis.
-- The NASDAQ will open today about 33 percent higher than when Obama took office.
(courtesy of Nate Silver)

Is it still Obama's economy? To which I'd add the wildly popular 'Cash for Clunkers' program, Sotomayor's confirmation, and the release of two journalists from North Korea.

Things are moving along in a generally positive direction. The only black cloud on the horizon is the question: How many people are going to end up hurt by these astroturfed mobs at the townhall meetings? Moral relativistic comparisons aside, I can't remember a time when people went to meetings with the intent to intimidate members of Congress. Challenge them, yes. Intimidate and silence them, no.

[visitorq]

What absolute drivel... I'll wait for someone like mises with all the real stats at his fingertips to tear you a new one, but until then I'll just point out the obvious: the economy is in the absolute sh-tter.

Your stats are the ridiculous propaganda the mainstream media is spewing out, about as credible as the 'green shoots' crap they were spouting off. In fact, the entire financial system is on its last legs, the only thing keeping it from collapsing is the injection of trillions of fake, worthless dollars into the zombie banks. It can NEVER be fixed, it is just one giant ponzi scheme and it has to fail. We are now in the middle of the bailout bubble, which most economists predict will last perhaps another year or so, and when this one bursts, it's ALL OVER (we're literally talking about the collapse of the dollar and hyper stagflation).

Seriously Ya-ta, you seem to have no clue whatsoever about what you are talking about... do even know what the Federal Reserve System is? Do you have even an elementary idea as to how it works? Do you know what fractional reserve banking and fiat currency are? I don't think you have the slightest idea...

Your man Obama is in the process of driving the nail into the coffin, for which he is nothing short of a traitor, handing everything of value over to the flim-flam ponzi scheme artists on Wallstreet who are responsible for engineering this entire collapse. Every single member of his administration is pure Wallstreet and work only for finance. He appointed the goddam ex-NY Fed president to be his treasury secretary! What more proof do you require???
Your ass is as good as sold down the river, same goes for your children, and their children. Cheerleading for Obama at this point is just a disgrace man.

[bucheon bum]

While I think visitorq is a little too focused on conspiracies and nonsense, I do agree with his general premise: the economy isn't doing as well as Obama and yourself make it out to be.

If things are still improving a year from now, I'll concede I'm wrong. My hunch is things will fall again by the end of this year though.

If you're wondering why, it is because the system hasn't changed. Companies have just used the bail-out money (or other gov't money, such as the cash for clunkers) to make short-term profits with no interest in the long-term future. In short, you're just seeing another bubble.

And Ya-ta, the health-care reform bill looks like it is being significantly watered down. I really am not impressed by Obama's (lack of) leadership. He has not taken advantage of the majority the Dems have in Congress.

First edit: adding the last paragraph. 2nd edit: to explain thie first edit.

[Ya-ta Boy]

As I said before, "Ho hum." All you have to offer is a retread of anti-government spiel. It's been around for decades and is even less interesting because of its repetitiveness. Feel free to engage in your paranoid fantasies.

I hope you check under your bed before you go to sleep. Ya never know what monster is hiding there.

[pkang0202]

Unemployment went from 9.5 to 9.4%. Does that mean .1% got jobs? Or that .1% just gave up looking for jobs.

There is a big difference on how that 9.5 became 9.4.

Cash for Clunkers is a great program to get Americans to buy cars except for one thing. Where is the money coming from for the program? Its not growing on trees.

The things the OP mentioned are straws that Obama's administration and his supporters are grasping at to raise confidence in his administration.

I, for the life of me, don't know why the hell he is trying to push this healthcare reform on people RIGHT NOW. Maybe he feels that after a year and the economy is still in the stinker, he'd have lost all credibility and won't be able to even suggest any reforms.

Or maybe he thinks the economy is on the right track and its time to move on.

I think he's trying too hard and too fast to push this onto the American public. Americans already have a lot of their plate.

[Pluto]

Well, the first thing that struck me as odd was that while job losses were not accelerating, there were still job losses in absolute terms. Yet the jobless rate decreased from 9.5% to 9.4%. How does that work out? Have you ever tried standing up and sitting down at the same time? Try it sometime.

12,000 people were hired by the government to help conduct the decennial census, gov't temp jobs. Another supposed area of job increases came in from the auto sector which typically uses this time of year to retool for the new line of vehicles. The BLS claims about 28,000 jobs were created in this area. Many people are looking into this area and seeking new hires but all we're getting are crickets. Also, expect Q3 jobs in maufacturing to be revised back down.

The NASDAQ, DJIA and SPY are all overpriced and are being inflated by the easy money coming from the Fed; it's a dead cat bounce.

http://www.shadowstats.com/
http://tiny.cc/vaOPG (David Rosenberg)
http://www.zerohedge.com/article/truth-behind-todays-bls-report (You knew Tyler Durden would call the government out on its bullsh-t.)

[mises]

[RufusW]

Show us the real stats then Mises.

[mises]

[RufusW]

So we're back to this: you're blaming Obama after 6 months and think it's his economy, even though Bush had it for the last 8 years. Hey, what about you give Obama 25% of the chance Bush got - 2 years.

[bacasper]

[mises]

[bucheon bum]

[RufusW]

No Mises, it's directed at all silly Cons.

Oh, he hasn't fixed it in 6 months!! C'mon, at least give him half his term to sort it out - you're really going to condemn him after an 8th of his presidency?

[mises]