Unemployment Dips – That’s the Ticket
When I see Obama discussing the state of the economy, it’s like watching Tommy Flanagan, the pathological liar, played by Jon Lovitz on SNL, whose famous saying was, “Yeah, that’s the ticket!”
Obama selling the idea that unemployment shrank to 9.7%, while we lost even more jobs, well, “That’s the ticket!”
Most people are aware by now that the reason for lower unemployment is that people have QUIT LOOKING! There are approximately 1M people now who have quit looking! Since they quit looking, the government quit counting.
According to this report from The Examiner,
The number of discouraged workers –people who have stopped looking for jobs in the past 4 weeks – grew from 840,000 to 1.1 million nationwide. Since the start of the recession, the U.S. has lost 8.4 million jobs.
Where are that white boogeyman and that Republican-controlled Congress when you need them?
The point is, why bother looking for a job, when you KNOW no new jobs have been created. In fact, while Obama was creating and saving jobs, 4 MILLION more Americans’ jobs were uncreated and unsaved!
Regardless, I refuse to believe my lyin’ eyes! Liberals tell me that chimpanzees make good house pets, and fat meat ain’t greasy, and I believe ‘em!
Obama has delivered Utopia, I just can’t see through my new transparent glasses!
Despite the 20,000 more job losses, unemployment indeed dropped 0.3%. It’s time to celebrate. We are at the beginning of the recovery, and now I plan to take Biden’s and Obama’s advice, and begin spending my way out of debt. Shopping releases endorphins, and I like my new euphoric feeling.
However, buzz kill that he is, Obama has cautioned for us NOT to be overly optimistic. He pulled the same stunt when consumer orders were up 5.7% as I blogged in No Celebrating GROWTH! What gives? Does he want me wallowing in his misery index?
Under Reagan there we began measuring the misery index, a combination of unemployment and inflation—currently 12.8% under Obama, the highest since 1983. Though 12.8% is high, the real misery index is actually much higher. Because unemployment and inflation are being artificially held down.
Now since rehashing that real unemployment is around 18%. Technically the US is in an inflationary period that is being artificially held low by the Fed, and it’s much closer to 6% and growing. Extended unemployment benefits, and $1T of new money at the ready, lowest income to the US treasury in decades, and many other inane fiscal policy decisions, and you can easily see why Obama’s got his finger in the dyke…and she ain’t liking it one bit. [*snicker*]
It’s just a matter of time when Obama’s policies catch up with him, and inflation will mimic the Carter years, much as his presidency does.
It’s safe to say that when considering the real numbers, the misery index is in firmly in the red zone, hovering around 24%. When you have black folks on the south side of Chicago are complaining about their homeboy, well you know things are pretty ugly out there.
Contrast Obama’s administration to what Bush had to deal with, specifically the terror attacks, which crow-barred the economy taking the stock market to 7000! American had NEVER seen anything like that, including The Great Depression.
Bush held the economy together, taking to stock market to new highs, in spite of the financial debacle created by Democrats like Obama, Dodd, and Frank.
But Bush is “the dumb president,” right? “Yeah, that’s the ticket!”
Bush had to contend with a Democrat Congress for over 6 years who were full of vitriol, and who saw their takeover as a mandate for socialism. The Pelosi Bunch spent America into oblivion and blamed Bush. Bush received NO support from the media, and many forget that Bush had the same weak-kneed Republicans that we are trying to rehabilitate now.
Here’s the wrap:
Obama has no excuses, though he still blames Bush. That excuse now even makes Obama’s staunchest supporters eyes glaze over. Misery loves company.
Obama’s policies are laughable. He is finally trying to provide incentive to small business, at a time when the economy can’t support new businesses.
Oh well, thankfully consumer buying is on the rise and unemployment is dipping! “Yeah, that’s the ticket!”
© 2010 Kevin Jackson – The Black Sphere All Rights Reserved
20 Comments »
mt says:
February 8, 2010 at 5:34 pm
Kevin, The hourglass is emptying fast on the POTUS in regards to inflation. Too many greenbacks flooding the market (as in 787bil) is a sure prescription for a falling dollar. Sad to say the homeboys on the South Side or for that matter most of America will not see ANY benefit due to the crowding out of credit available to the private sector. The left ACTED (that’s the ticket) up in arms when the deficit was averaging 2% of GDP in the Bush years, yet giggle like little schoolchildren as they oversaw a deficit of 9% of GDP in 09. Kevin, I’ve found my misery meter (and also an old eight track tape, rotary phone and rabbit ear antenna in the dust bin) and set it at 24%. Not thats what I call progressive…..or is it regressive?
Kevin Jackson says:
February 8, 2010 at 6:06 pm
mt – Dude, nice comment! May have to knight you soon!
JJ SOLARI says:
February 8, 2010 at 7:41 pm
nobody in office ever does anything to GET into office except…..run for office. why would anyone expect anyone actually IN office to start doing anything then? They’re already in office? why do anything? Obama has never even had a job in his entire life, not even at Micjey D’s, that anyone can discover. And he’s now expected to Repair America? He couldn’t repair a flat on a bicycle. I think we are really all expecting a little too much from our community agitator in chief.
Kevin Jackson says:
February 8, 2010 at 8:34 pm
@Scot – Obama cannot be mentioned with “you know” in the same sentence!
uberVU - social comments says:
February 8, 2010 at 10:13 pm
Social comments and analytics for this post…
This post was mentioned on Twitter by TinaVane: RT @Theblacksphere: http://theblacksphere.net/unemploy-dips-ticket/ Hope u like it! R/T if u do!…
Janelle says:
February 8, 2010 at 11:35 pm
Kevin, you don’t write like a hammer hitting a nail…..more like a nail gun.
Janelle says:
February 8, 2010 at 11:46 pm
As for you, jj, reading your comments makes me feel like I’m watching the juggler who did chain saws, bowling balls, vegetables or anything else that didn’t fit together. He was funny as well as talented.
Mick says:
February 9, 2010 at 11:16 am
Watching or listening to Obama give a talk on the economy reminds me of listening to a college student give a talk in a business class. Straight from the text book!! In Obama’s case he really doesn’t know what he’s talking about. How can you gloat when you promised unemployment wouldn’t reach 8% if your stimulus package was passed? How can you gloat about unemployment falling .3% when you lost 20,000 more jobs during the month.? How can you gloat when you know the only reason it dropped .3% is due to removal of oneself from the non-existant job market? How can you gloat when if you added back the 1.1 million job seekers who stopped looking for a job would give you an unemployment rate of 11%……..a simple answer to these questions is a FAILED COMMUNITY ORGANIZER!!!
Obama and his pundants continue to blame Bush and his administration for our current economic conditions. Believe time is long past due to start assuming responsibility for what is happening now. The current stats look great. They are deceiving. The 5.7% GDP is due to a large part on replenishing inventories. Sales for Jan will mainly be due to Xmas Gift Cards and Jan sales.
The main cause of the recession was Wall Street GREED! Basically the financial institutions. Today the FED is buying their toxic assets at full value and then loaning them back the money in hopes of them loaning to the consumers. This isn’t happening. If anything the lenders are lowering credit limits on the majority of their customers.
For a true recovery to occur it needs a strong consumer which it doesn’t have and will not have for many months to come. The consumer has lost a good portion of their equity through the bubble bursting in the real estate market, the loss in value of their 401k and other retirement plans and the loss of credit availability. And, the number of under and unemployed does trickle up and down on all of us.
gh says:
February 9, 2010 at 1:17 pm
Just read this article. Good points to be made concerning fudging with numbers. Maybe the real barometer is the national common sense meter. Felt that meter fall when this person and his ambitious wife were elected (20+ladies, in waiting, etc.,etc., etc.). He spends like a man so saving himself all this life for this moment. And we wonder why Americans are by and large not receiving the full and legitimate fruits from their laboring?
JJ SOLARI says:
February 9, 2010 at 2:32 pm
The community agitator in chief is still warning the republicans not to oppose him. he’s like the black knight in that Monty Python movie that has his arms and legs cut off and is still screaming threats and calling-names as his adversary walks past, looking down at the idiot’s writhing and fulminating stump and scratching his head. I can’t wait ’till he loses-it and starts screaming “I hate all you white people!!!” You GOTTA know that’s coming with this marginally-functional narcissist. White people, of course – who just can’t get enough of this whistles-his esses mincing fairy – will be stupified by this outburst and insist George Bush spiked his Camels with hash oil.
Lenore says:
February 9, 2010 at 4:16 pm
In 2009 the state department handed out over 450,000 work visas, WHY? Why are we supplying jobs to non US citizens while so many citizens are out of work? The drop in unemployment is not from private sector jobs. Our government workers have grown, probably that .3% or higher.
Lenore says:
February 9, 2010 at 4:24 pm
Sure government workers buy stuff, but with my money, I could have bought things with that money as well. If it wasn’t for the sweat of the private sector worker, they wouldn’t get a paycheck. To many government workers, way to many. To many government organizations, two of the worse government orgs. the FED, the EPA. our founders would be shocked at how government has taken over America.
Joe says:
February 9, 2010 at 7:56 pm
Meat at the supermarket is up 16%…I sure am glad there’s no inflation.
Fresh vegetables are up 7.5%…I sure am glad there’s no inflation.
The furniture stores are holding sales at which the price of a sofa is only 10% more than the regular price last year…I sure am glad there’s no inflation.
My non-generic medicines are up 8% over last year…I sure am glad there’s no inflation.
The price of automobiles has held its own…I wonder why? Can you say, “taxpayer induced bail-out?”
Government Motors automobile companies fail to make a profit…I wonder why? Can you say, “taxpayer induced bail-out?”
Can’t we get these guys out of DC for good?
Mick says:
February 9, 2010 at 9:42 pm
Tonight Hannity showed two clips of whatever-in-chief goofs. The first was him reading from a teleprompter and not pronouncing the name of corpsman correctly. He made the mistake three times….and this doofus is in charge of the military and can’t even pronounce their titles. The second clip was a gathering without his teleprompter and him saying where during the last fifteen months he has visited “57″ states and has one more to go. See, we are learning something daily from our whatever-in-chief. We now have 58 states!!
MSNBC political hosts have done nothing but trash Sarah Palin for writing notes on the palm of her hand. What a crew!! Girlie-boy Chris Mathews was all giggles and squirming like a stuck pig! I’m sure MSNBC did not and will not show those clips seen on Hannity tonight. Instead, they’ll make excuses for the doofus who sends chills up their legs.
Terrible thought when our whatever-in-chief doesn’t know how many states he is the president for!!!
Mick says:
February 9, 2010 at 9:45 pm
This corrects the typing error I made in my last comment having to do with Obama. It should read…..where during the last 15 months he has visited “57″ states…..
JJ SOLARI says:
February 9, 2010 at 11:43 pm
joe: obama was elected by women and gay men. expect chaos.
yttik says:
February 10, 2010 at 9:56 am
A big part of our economy is about attitude. People feel good about themselves and their country and they work, they invest, they expand business. Somebody needs to tattoo “lift American spirits” on the inside of Obama’s palm because he’s totally forgotten that part of his job.
lulu says:
February 10, 2010 at 5:39 pm
Well Kevin, I guess we can now all rest assured knowing that Obama will be meeting the Al Sharpton (famous race baiter with no known source of income), Mark Morial (Urban League), Benjamin Jealous (NAACP) and Dorothy Height (National Council of Negro Women) to discuss jobs and how to stimulate the job market. Can you say Negro, please!
scott says:
February 8, 2010 at 5:14 pm
Obama is doing everything the opposite of Ronald Reagan. What came to mind as I read your article Kevin was when Ronald Reagan said:
“I want you to know that also I will not make age an issue of this campaign. I am not going to exploit, for political purposes, my opponent’s youth and inexperience.”
and also:
“The nine most terrifying words in the English language are… I’m from the government and I’m here to help.”
BTW (kinda off topic but not really):
Which is the Real ‘Racist’ Party: Fifteen Questions for Democrats:
http://bigjournalism.com/fross/2010/02/08/which-is-the-real-racist-party-fifteen-questions-for-democrats/#more-20238
This article is awesome and shows who the real racist are!