Does this make sense???

[trularin]

Two months ago there were 65000 people laid off. Last month they only laid off 64000. The media is doing the "yahoo we are out of the recession".

Why doesn't this make sense to me?

To me that is 129000 more people unemployed than there were three months ago. How can that be good?

Just because an employer decided to hold on to 1000 people for another month doesn't mean that in June, one of the slowest times for manufacturing, they don't let and extra 1000 people go.

I must be damaged.

[vector1]

not supposed to make sense, just make you feel better. go spend money, you feel better.

[Ron61]

Tru,

It is just more of the media hype. Here they are making it big headlines around Redding that unemployment claims dropped last month. Of course they did. All of the places that employed many people have already cut back or gone out of business, a fact which was never mentioned. Plus many have drawn out their unemployment and no longer count.
I hope the recession is starting to turn around, but just that 1,000 mark doesn't prove it and I think the recovery will be long and slow.

Ron

[fsstnotch]

Yep, they just want you to go and spend. We'll call it.. an "Obama binge."

[joe g]

Make the Masiah look good no mather how bad it is--nbc-cbc cnn-etc are all in lockstep for obama, so the slightest thing that they can shout out about to make him look great is what you will here.
You dont hear much about mortgage rates going up!!
when Bush spent 4 trillion and unemployment was 5% it was RECKLESS_ now 9.4 trillion spent, 9% unemployment and things are getting better.

I fight with my liberal friends all the time about how they want it both ways- Bush was terrible for 4trillion and 5% but Obama with double those numbers is ok.
joeg

[bomelia]

Uh, its all about making Obama look good. When GWB saw job gains of several hundred thousand per month, he was criticized as not doing enough. Remember? Remember the 2.5 million predicition that was made, the media went nuts, and they revised it down? And the numbers actually exceeded 2.5 million? And all they could say was Bush was an idiot. So, job losses blip down for one month... and Obama is the One. The Only. The Great One.

If Obama were running his campaign now, he would be blasting Bush for those abyssmal numbers.

Originally Posted by trularin

Two months ago there were 65000 people laid off. Last month they only laid off 64000. The media is doing the "yahoo we are out of the recession".

Why doesn't this make sense to me?

To me that is 129000 more people unemployed than there were three months ago. How can that be good?

Just because an employer decided to hold on to 1000 people for another month doesn't mean that in June, one of the slowest times for manufacturing, they don't let and extra 1000 people go.

I must be damaged.

[FWB]

make sense? no. but if, as an administration you are spending to get out of debt( no sense) then misery wants company, you too should spend money to get out of debt.

WEEEEEEEEEE, isn't this ride fun........shedding wealth at the speed of light.


Fred

[427sharpe]

It is actually worse than reported, really.
There are 4 types of unemployment; frictional, cyclical, structural, and seasonal.
Frictional is where you leave to find something else, cyclical is the bad one and has to do with ups/downs in markets, structural is skills related (job eliminating due to 'creative destruction') and seasonal is farm work. Given that the accepted base unemployment rate is 6.5%, if the BLS reports 9.5$ UE, we are really at 16%! And the economists also recognize that the way we report numbers deflates them. For example, if your benefits expire...you don't count! If you get discouraged and stop looking...you don't count! And if you earn as little as $1 in any given week...you're employed! These factors actually lower the true UE rate. The last report I saw said UE hit 9.4% in the 1st quarter of '09. Add in the expected unemployment you're at 15.9%. Add in the ones whose benefits expired, and those who have given up, or those who took jobs in 7-11 to make something until a real job comes back, and I would lay $ that the true UE rate is closer to 25%. IIRC, the Great Depression's real unemployment rate was estimated to be 35%, so we are closing in....
And yes, the politicos (all of them) try to put lipstick on the pig and get the rest of us to spend their way out. Sooner or later, all those bills will come due and we will have to send the band home and pay to clean up the dance hall. I wonder if that time has finally come?

[427sharpe]

Fred...absolutely! Last reports said US households lost $1.3 trillion in wealth during this party!

[FWB]

i look at other manufacturers, and they are at 1\3 of their workforce of last year.
i have cut my expenses and workforce to absolute minimum. i don't pay rent. other companies have high rent and or notes on their real estate. the commercial real estate market has yet to follow in the residential markets demise, oh its coming, everywhere there are buildings for rent\lease. when the principles of these properties don't get tennants they will be upside-down in their mortgages and then the big uh-oh will begin. the "can't we all just get along crowd" will be right next you in the soup line.

Roscoe has the right idea just buy ammo, it will be your neighbor that you will have to protect yourself from because the politicians will be no where to be found. you may say that's just stupid talk. i hope it ends up as stupid. but i don't think so.

[joyridin']

The media created half this mess anyhow. Pounding us daily with analysts predicting doom and gloom would make even the most non-believers think twice.

Had they shut their mouths and just reported the news instead of trivializing every little thing, our economy would probably still be rolling along at a decent clip.

[Ron61]

Originally Posted by FWB

i look at other manufacturers, and they are at 1\3 of their workforce of last year.
i have cut my expenses and workforce to absolute minimum. i don't pay rent. other companies have high rent and or notes on their real estate. the commercial real estate market has yet to follow in the residential markets demise, oh its coming, everywhere there are buildings for rent\lease. when the principles of these properties don't get tenants they will be upside-down in their mortgages and then the big uh-oh will begin. the "can't we all just get along crowd" will be right next you in the soup line.

Roscoe has the right idea just buy ammo, it will be your neighbor that you will have to protect yourself from because the politicians will be no where to be found. you may say that's just stupid talk. i hope it ends up as stupid. but i don't think so.

Actually that is already happening in this area as a big amount of the commercial buildings here are now deserted and empty. And they are threatening to foreclose and auction off a huge new one that was built just a couple of years ago across from the Redding city hall because it never had more than two tenants and the main one went out of business abut 6 months ago. They don't even have money to finish tearing down the old mall they had to have in the downtown area and those stores are like a ghost town and have been for the last couple of years. The bit two level parking area they built is half shut down because the concrete from the upper level is falling off and onto vehicles parked on the lower level. Also the foreclosure rate for May was the highest yet if the local reports can be believed and as much as they lie about weather to attract tourists I would bet they are higher than reported.

Ron

[trularin]

Someone said today Detroit is 23%. Not sure if that is the state or just Detroit.

However, there are some wicked looking empty car dealerships here and there. If the people were gone, you'd swear you were watching one of those History channel shows were all the people are gone.

The great depression 1929-1934 saw 25% unemployement. Anyone want to speculate on whether this is going to be called a recession or depression?

[427sharpe]

It will be a recession until a republican gets elected; then it will be called a massive depression.

[4RE KLR]

Originally Posted by bomelia

Uh, its all about making Obama look good.

BINGO.



That is exactly what they want everyone to think. They are trying to draw attention away from the screw-ups they are making on a daily basis.

[FWB]

i think the congress and the current admin. will not be able to sidetrack the onlookers for very long. the kool-aide has already started to taste a bit like pee to the BO praisers.
we already are seeing a spike in energy costs. when we are back to 100+ dollars a barrel for crude the blame will be hard to sidestep. as the actual un-employment numbers creep closer and closer to 20%. BO and the pelosi bunch will become spoiled meat that no one will swallow.

[Ron61]

Yea, he can't keep saying he inherited this mess forever as it just gets worse every day. About time for them to turn on each other and start the finger pointing.

Ron

[fsstnotch]

Ahhh... come on FWB!!! He inherited this!!!!

[Wes Tausend]

...

McCain must be feeling pretty relieved by all this. He was shot down in Viet Nam once. This time, it will likely be the other guy.

Then, on the other hand, John may be mostly worried what will become of his country, the one he almost died for.

Me too.

Wes

...