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Beckwith

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Editor’s Note: The following report is excerpted from Jerome Corsi’s Red Alert, the premium online newsletter published by the current No. 1 best-selling author, WND staff writer and senior managing director of the Financial Services Group at Gilford Securities.
  

The real unemployment rate for December 2011 is closer to 22.4 percent, not the 8.5 percent reported by the Bureau of Labor Statistics.
  
John Williams, author of the “Shadow Government Statistics” website, argues that the federal government manipulates the reporting of economic data for political purposes.

In the Jan. 6 Bureau of Labor Statistics news release, the unemployment rate was reported to have fallen 0.2 percent to 8.7 percent, as revised for November 2011.

Williams recreates a Shadow Government Statistics alternative unemployment rate reflecting methodology that includes "long-term discouraged workers" that the Bureau of Labor Statistics (in 1994 under the Clinton administration) redefined those considered "unemployed."

The BLS no longer considers as "unemployed" those workers without jobs who have not looked for work in the past year because they feel no jobs are available.

Williams has demonstrated that it takes an expert to truly decipher BLS unemployment statistics.  For instance, in Table A-15, titled "Alternative measures of labor underutilization," the BLS reports what is known as "U6 unemployment."  U6 unemployment includes those marginally attached to the labor force and the "under-employed," those who have accepted part-time jobs when they are really looking for full-time employment.

While the BLS was reporting seasonally adjusted unemployment in December 2011 at only 8.5 percent, it was also reporting U6 seasonally adjusted unemployment in December 2011 was 15.2 percent.

The only measure BLS reports to the public as the official monthly unemployment rate is the seasonally adjusted U3 number.

Williams calculates his "Official SGS Alternative Unemployment Rate" by adding back into to the BLS U6 numbers those long-term discouraged workers who have not looked for work in the past year.

Interestingly, Williams' "Official SGS Alternative Unemployment Rate" shows unemployment in December 2011 was 22.4 percent, the same as in December 2010, whereas the BLS figures were designed to report nearly a one-point decline, from a seasonally adjusted U3 rate of 9.4 percent in December 2010 to a 8.5 percent rate in December 2011.
    


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Beckwith

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Job growth loses steam

Josh Mitchell and Eric Morath, reporting in The Wall Street Journal, say U.S. job growth slowed in March, and the labor force shrank, signaling that the economy could be losing momentum.
 
Jobs outside of agriculture grew by 120,000 last month -- half the number that the economy added the prior month -- the Labor Department said Friday, marking the first time since November that job growth fell below 200,000.

The unemployment rate, obtained by a separate survey of U.S. households, ticked down a tenth of a percentage point to 8.2%, but the drop resulted in part from fewer Americans seeking work.

What a joke.  The government knows those numbers are BS.  The Wall Street Journal knows those numbers are BS.

Fox Nation reports that while the Labor Department reports a surge in private-sector hiring and the nation's unemployment rate holding steady at 8.3 percent, a closer look at the numbers paints a less flattering picture of the country's post-recession growth.
   
The latest report for February shows lingering economic disparities among different segments of the population. And, as has been the case for decades, the unemployment rate used by the Bureau of Labor Statistics does not tell the whole story.
 
Counting only those Americans who are actively looking for work, the jobless rate is 8.3 percent, just like it was in January. But counting those who stopped looking for work within the last year, the rate is 9.8 percent.
 
And counting all of the above, plus those who settled for part-time jobs, the rate is 14.9 percent.
 
"Everybody who has friends knows it's higher," Rep. Duncan Hunter, R-Calif., told Fox News.
 
Hunter is pushing legislation that would require the Bureau of Labor Statistics to broaden its definition for the unemployment rate. He wants the department to count those who stopped looking for work as well, which would put last month's rate at 9.8 percent.
 
"We just want to know what the truth is, because we can't make good policy here unless we know what the actual unemployment number is," Hunter told Fox News on Thursday, ahead of the latest labor report release. "It's not 8 percent -- anybody who's out there in the real world knows that. We need real numbers, not D.C. numbers."
 
The report continues to show subsets like white college grads faring the best in the slow-to-recover economy.
 
Black workers still face a 14.1 percent jobless rate. The rate for Hispanics is 10.7 percent.
 
Education level is a huge factor. While those with a bachelor's degree or higher have a 4.2 percent unemployment rate, those with less than a high school diploma are looking at 12.9 percent unemployment.
 
Youth unemployment, for those between 16 and 19, is 23.8 percent. Black youth unemployment is 34.7 percent.


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Beckwith

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"Not In Labor Force" at new all time high

Tyler Durden is reporting that the the unemployment rate drops to 8.2% for one simple reason: the number of people not in the labor force is at an all time high: 87,897,000.


click here for large chart

8 Million jobs have disappeared on Obama's watch.

 


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Beckwith

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Clueless about job creation

Fred Barnes asks, does Barack Obama have the foggiest idea how jobs are created in America?  There’s not much evidence he does, beyond lip service to the helpfulness of the private sector.

When Obama begins a speech these days with praise for free markets, look out!  What comes next are proposals for more government intervention in the economy and higher taxes.  That’s the recipe, he says, to "encourage our long-term economic growth and stabilize our budget."
 
He said so in his Republicans-are-Social-Darwinists speech in Washington two weeks ago to newspaper editors.  Near the outset, Obama declared: "I know that the true engine of job creation in this country is the private sector, not Washington, which is why I’ve cut taxes for small-business owners 17 times over the last three years."
 
Those cuts have had minimal effect, and not surprisingly.  They were tiny and temporary, and few small-business owners bothered to claim them, if indeed they were eligible to do so.  Meanwhile, Obama has persistently sought to raise their income taxes.
 
In Washington, he didn’t suggest, much less propose, a single incentive or spur to private investment, yet he insisted "we continue to make investments in growth today."  These consist solely of government-funded jobs, such as "putting some of our construction workers back to work" and "helping states to rehire teachers."
 
Obama yearns for a hefty increase in hiring by state and local governments.  If hiring were "on par to past recoveries, the unemployment rate would probably be about a point lower than it is right now."  Restoring "huge cuts in state and local government" is "part of the challenge we have in terms of growth."

The lesson here is that Obama has learned no lesson from what Edward Lazear of the Hoover Institution has called the "worst economic recovery in history" -- that is, the Obama recovery.  The economy has grown at a rate of 2.4 percent since the recession ended in June 2009, a full percentage point below average long-term growth.  But Obama is sticking with his plan for a government-led economic boom.  This is Obamanomics: If it doesn’t work, then double down.
 
Obama once told a group of investors that the private sector didn’t need incentives to invest because his administration’s massive subsidies of green technology would lead the way.  Now the mention of "green jobs" has become a laugh line.  The main news from the green sector is another company bankrolled by Obama going belly-up.

Continue reading here . . .


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bushido

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A little off topic, but yesterday CSPAN ran coverage of the Import/Export Bank Conference.

It was difficult to watch.  Just goes to show you that given enough time, a group of people can convince one another that they are right, and everyone else is wrong.

The speakers would cherry pick American companies who were now prospering due to loans received from EIB. Clearly they had the Chicken Little mentality...and wanted the world to believe that global economic collapse would take place in its absence. (It's continuation must gain approval in congress)

The most profoundly disturbing moment of the conference came when the closing speaker took to the microphone: Valerie Jarrett

For anyone who has not heard her speak, be assured she is not only brainwashed, she is equally incompetent, has absolutely no public speaking skills, and comes across as patronizing and condescending.  She spoke to this group of banking professionals, economists, heck grown ups as if she were wooing a newborn to eat breakfast.

Beyond that, her message, which echos barry's is wholly inaccurate and filled with outright lies. "4 million jobs created..."

How this unelected zombie found her way to the side of the guy in the white house is inconceivable.

Beckwith

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Birds of a feather

 

Senior Obama adviser Valerie Jarrett's late father-in-law and Chicago Sun-Times columnist Vernon Jarrett, was a key member of the South Chicago communist left of the late 1940s.

After graduating from Knoxville College in Tennessee, Jarrett moved to Chicago in 1946 to work as a journalist. On his first day on the job at the radical Chicago Defender, he was sent to cover a race riot. The Defender was heavily influenced by the Communist Party USA and included on its roster well known Chicago Communist Party member Frank Marshall Davis.

Jarrett and Davis worked on the Defender around the same time. They certainly knew each other through the Communist Party and its fronts.

In June 1946, Vernon Jarrett was elected to the Illinois Council of the Communist Party's youth wing, then known as American Youth for Democracy. This is according to Testimony of Walter S. Steele regarding Communist activities in the United States. Hearings before the Committee on Un-American Activities, House of Representatives, Eightieth Congress, first session, on H. R. 1884 and H. R. 2122, pages 75,76. It is the first hard evidence tying Vernon Jarrett directly to the Communist Party. Frank Marshall Davis, incidentally, was an official sponsor of American Youth for Democracy, along with confirmed communists Howard Fast, Langston Hughes, John Howard Lawson and Dirk Struik.

In April 1948, Frank Marshall Davis and Vernon Jarrett were working together as members of the publicity committee of the communist controlled Citizens' Committee to Aid Packing-House Workers.


    


Besides Davis and Jarrett, communist officials of the strike committee included Oscar Brown (Treasurer), Louise Patterson (Assistant Treasurer) and Ishmael Flory (food & groceries committee).

Later that year, Frank Marshall Davis left Chicago for Hawaii to work on the Honolulu Record, then edited and run by Communist Party member Koji Ariyoshi.

  

There's more at the link, above.

 

 

 


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bushido

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Here are 16 terrifying facts about the Obama economy

1.  General Mills, the third-biggest food supplier in America, reports that its year-to-year input costs are now between 10 and 11 percent. Inflation on food costs will soon be so high that even Ben Bernanke won’t be able to ignore it.

2.  According to the World Bank, the GDP of the United States in 2011 was $14.5 trillion. (That’s the entire output of our economy.)

3.  The “official” debt of the U.S. government, as of March 1, 2012, was $15.5 trillion – $1 trillion more than the output of our economy.

4.  Unfunded liabilities (Social Security, Medicare, federal pensions, etc.) for the federal government for fiscal year 2011 totaled $50.5 trillion – more than 3 times our total economic production!

5.  When you total unfunded liabilities and the national debt, and subtract income from tax revenues, the U.S. was short by more than $60 trillion for fiscal year 2011.

6.  Every household in America is on the hook for $513,380 that our government owes.

7.  The median net worth of an American is now $6,000.

8.  Our national debt has to increase by more than $1 trillion per year to keep up with government spending.

9.  The Department of Homeland Security – tasked with policing us here at home – just awarded a contract to ATK to purchase 450,000,000 rounds of .40 caliber ammunition. Our population as of the end of 2011 is approximately 311,591,917. Bullets to citizens ratio = 1.4 to 1.

10.  The current U.S. House has proposed 1,523 bills that would increase federal spending, and 122 bills that would decrease federal spending – a difference of 12.5 to 1.

11.  The current U.S. Senate has proposed 948 bills that would increase federal spending and 54 bills that would reduce federal spending – a difference of 17.5 to 1.

12.  14.7 percent of Americans are on food stamps.

13.  The teen pregnancy rate in America is higher than anywhere else in the world – 22 percent.

14.  The population growth rate in America slowed to 0.9 percent in 2011. Future generations will face an even more staggering level of debt to be repaid.

15.  Between state and federal taxes, and hidden taxes in consumable goods, every American now forfeits 37 percent of their wealth to government. By comparison, God Himself only asks for a 10 percent tithe from Christians.

16.  Total housing activity (home sales, starts and permits) has declined by more than 100 percent in the last 6 years.

Are you ready for 4 more years of “hope and change” yet?
Longknife 21

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Very Good, Bushido.

The Govt continues to lie about the inflation rate, and I believe that the "increase" in the GDP is not equal to real inflation so we are in a shrinking economy.

As the GDP shrinks and unemployment increases, the tax base shrinks, revenue shrinks, more people are forced on to food stamps, welfare, or foreclosure. Revenue continues to shrink while demand for Govt welfare grows, quickly.

It is an economic death-spiral, increased by printing fiat money for which the FED will soon be demanding ever increasing interest payments. There is no revenue to pay the interest so the shylocks will increase the debt and increase the interest rates.

It may already be to late.
BuckeyeMike

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Kudos bushido!
Excellent breakdown of Obamanomics and its impact on society.
bushido

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The one that stands out for me is # 7...how many families are one paycheck, one uninsured illness away from irreversible devastation.

Will our parents' generation be the last one to actually have a nest egg to pass on?

...then again, the bullets in # 9 give me pause also. Anyone priced ammo lately?

Longknife 21

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I like it that they are buying pistol ammo.
 
We should be buying shotgun buckshot and rifle ammo. The mediocre rifleman defeats the expert pistolero at ranges over 25 yds with boring regularity.
Beckwith

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Obama's measure of progress

Four years ago at the Democratic National Convention in Denver, Colorado, then-candidate Barack Obama said that Democrats measure progress by whether people can find a job and provide for themselves and their families. In September, Barack Obama and the Democrats will meet for the Democratic National Convention in North Carolina, a state that has lost nearly 50,000 jobs since he took office and has an unemployment rate at nearly 10%.


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Beckwith

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People not in labor force soar

Tyler Durden says it is just getting sad now. In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to
88,419,000.  This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.

Labor force participation rate:

People not in labor force:

 


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Beckwith

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This is what Obama wants

RUSH:  Snerdley just asked me an interesting question, and I want to pose the question to you in my own words.  After 39 weeks of unemployment over 8%, after an unemployment rate that's been higher for longer than any since the Great Depression -- with only 115,000 jobs added -- even if you are Barack Obama, don't you care a little about your legacy?  Don't you want some improvement somewhere in real life, not just a rate drop from 8.2% to 8.1% (see above item)? Don't you want something that's gonna add to your legacy, make you look good to the historians?

Now, what is the flaw in Snerdley's question?

The flaw in Snerdley's question is the premise.

To understand Barack Obama, you have to admit something, and it's a very difficult thing to do.  Not for me, 'cause I know.  But it's a very difficult thing for most people to admit, even though he said so in his own words (almost exactly the words I'm gonna use to you) that we've elected a president who doesn't believe this country has ever worked.  It's been a fraud.  All these great presidential legacies from the founding up until him are based on fluff and fraud. We have unjust foundings based on immorality and plundering the world for our own benefit.

He doesn't believe this country's been legitimately great.  It's been illegitimately great, and he is out to transform it.  Watch the Julia slideshow.  You'll see what the ideal citizen is to Barack Obama.  It's a citizen dependent totally on government who has no independent thought, no independent life.  Whatever is needed, there's something in Washington where you can go to get it.  You don't have to do it yourself. You don't have to do anything yourself.  The flaw in the question is that Barack Obama is cut from the same mold as previous presidents.

He isn't.  His job is to transform this nation into what it should have always been if it were a just, equitable, fair nation with a focus on human rights and social justice, which this nation has never cared about. It's never been focused on that in his mind, and in the minds of everybody in his administration, and probably eight-out-of-ten college professors.  So... (interruption) Well, publicly, he'll go through the motions. He knows he can't come to a microphone or camera and say, "Enjoy it while it lasts, because if I get reelected, this day is the closest it's ever gonna be to the way you remember this country being."

If he said that, he's toast.

He's got to make you think he cares about his legacy in traditional terms.

He's got to make you think he cares about legitimate job creation.

But what's happening is on schedule and according to plan.  This guy, Al Armendariz, from the EPA who wanted to "crucify" Big Oil and gas companies? A lot of people said, "Gee, how did a kook wacko like that get into the administration?" He's not a kook.  He's mainstream.  He may as well have been handpicked by Obama.  They're all through the EPA, just like that guy, and all through the administration.  I know it's tough to get your arms around.  But 88 million people out of work -- still eating, still driving, still using their cell phones -- that's ideal.  Who's taking care of 'em and who are they gonna vote for?


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Beckwith

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The sound of silence

 

 

On Saturday, Barack Obama launched his campaign by telling Americans not to ask if they are better off than they were four years ago, but how they'll be tomorrow.  This follows a jobs report that found more than 340,000 MORE Americans dropping out of the labor force and an unemployment rate that remains unacceptably high.

 

 


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Beckwith

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"Real" unemployment rate remains at 14.5 percent

Matt Cover is reporting that the "real" unemployment rate -- a broader, more inclusive measure of the country’s jobless picture than the one usually used -- remained unchanged at 14.5 percent in April, as the economy created a paltry 115,000 jobs.
 
Known formally as the U-6 unemployment rate, this measure includes those formally counted as unemployed, those known to be marginally attached to the workforce, and those who are working part-time because they cannot find full-time work.
 
According to the Bureau of Labor Statistics (BLS), the U-6 unemployment rate remained flat in April at 14.5 percent -- meaning some 22.8 million people are either unemployed, have stopped looking for work, or need full-time work but can only find part-time employment.
 
The U-6 rate is considered to be a more accurate measure of the unemployment picture because it includes a broader sample of those affected by poor economic conditions. By including both unemployed persons and those marginally attached, this measure captures people the BLS would normally count as out of the workforce.
 
Being marginally attached to the workforce means that a person is not employed and has not looked for a job in the past month -- but would accept a job if any were available. The measure best captures people who are available to work but who have given up looking for a job.
 
The government does not count these people as officially unemployed because they have not looked for work in the past month. They are usually deemed not to be in the labor force at all, and essentially disappear from the government’s survey of unemployment.
 
By counting people who can only find part-time work and including it in a measure of unemployment BLS is able to track what is known as underemployment -- when someone is forced to work part-time because full-time work is unavailable.
 
This measure provides a deeper look into the relative weakness of the jobs market than that provided by the official unemployment rate because while these people are employed, they are not as productive as they could -- and would like to -- be.
 

For those who haven't seen it before -- Abbott and Costell explain the job situation.

 


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Beckwith

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Obama voters losing jobless benefits due to the manipulation of workforce numbers

Rush Limbaugh says you walk in to get your benefits. You read a news release that says: Sorry, you’re out of luck, get a job. This is how we’re lowering the unemployment rate. And this lowering the unemployment rate is gonna redound to Obama by getting him more votes because we’re gonna spread the news the economy is recovering, unemployment’s going down, but nobody is gonna see that unless somebody from that office called here like just happened. On the other hand, what is the real-world effect of this? People who are on unemployment are in there, I’d say the majority of them are genuine, they’re not scamming the system. Some are in there trying to scam it, happens, but most people are in there ’cause they’re out of work and they want some unemployment benefits. They read something in there: Sorry, the economy is getting so good, the unemployment rate is falling so much, that benefits are canceled, or extension benefits are canceled.

In an election year, Obama turning away voters? I can’t believe this. This is like a Republican trick. If I didn’t know better I’d say Andrew Breitbart had been in the Kankakee County, Illinois, unemployment office. I mean here you have hapless people with nowhere else to go, out of work, going in to sign up for unemployment and they read something from the regime that says, “No benefits, the economy is doing too good.” In an election year you want as many people on unemployment benefits as possible. You want dependents. You want people thanking you for making it possible they can eat. Snerdley, you’re off the reservation. Snerdley is now suggesting this is how they’re getting rid of white working class. They don’t know who’s gonna walk in there. The news release doesn’t say: Only to be read if you’re white working class. Doesn’t say that. Everybody’s gonna see this. According to the BLS, the Illinois unemployment rate is 8.1, so it is down. This doesn’t make any sense. And again, anybody can call here and say anything, but the guy sounded legit.
 

Continue reading here . . .

 


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Beckwith

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Obama calls trash collecting a "Green Job"

 

NewsMax is reporting that a recent Bureau of Labor Statistics (BLS) report counts 3.1 million green jobs in the U.S. economy, but the BLS defines these jobs so broadly that it includes even school bus drivers and trash collectors as "green" workers.

"Cheerleaders for the president's program of green jobs mandates and spending point to the study as confirmation of green jobs' economic importance," said David W. Kreutzer, Research Fellow in Energy Economics and Climate Change in the Center for Data Analysis at The Heritage Foundation.

Kreutzer takes issue with the report as "an effort to count the number of green jobs as a way of justifying subsidies and mandates."

"Just a little digging into the data shows that only a small fraction of the 3.1 million jobs could have been created by green subsidies and mandates."

The BLS study defines green jobs as those "in businesses that produce goods or provide services that benefit the environment or conserve natural resources."

Using this definition, the BLS counts 43,658 jobs in steel mills as green because the industry uses scrap steel and can be classified as an active recycler.

Similarly, 27 percent of all paper mill jobs, 30,473, are counted as green because mills use recycled paper.

Steel and paper mill jobs "do not fit in with the rhetoric of the new, clean economy that green jobs proponents use to justify expensive green policies -- the sort of policies that brought the Solyndra debacle," Kreutzer writes in the Heritage Foundation report.

The electric power generation industry is said to have 44,152 green jobs, but only 4,700 are in renewable power generation.

The nuclear power industry has 35,755 green jobs, according to the BLS, but since no new plants have been built in the past 30 years, those jobs "are clearly not the result of any green energy or green jobs programs," Kreutzer points out.

Other jobs considered to be green by the BLS include those in used merchandise stores (106,865 jobs), waste collection (116,293), school and employee bus transportation (160,896), leisure and hospitality (22,510), office furniture sales (14,888), septic tank cleaning and portable toilet servicing (13,313), radio and television broadcasting (9,297), fruit and tree nut farming (12,176), and social advocacy organizations (20,704).

Kreutzer concludes that the BLS's "definition and collection mechanisms raise serious questions about how green those jobs are and whether their count can be a useful measure of the importance of green jobs in America's economy and the effectiveness of green jobs policies."

BLS -- Bureau of Labor Lies and Statistics

 


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Claudia

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Anything to spin the loss (spending) of monies and created Jobs away from Obama and towards the Republicans, no matter how it is done......

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Under Obama: 30 Worst months of employment in the past 25 years

Jeffrey H. Anderson is reporting that the federal government’s Bureau of Labor Statistics publishes monthly tallies for the employment-population ratio. That stat shows something rather straightforward: Among those who are living in America and are free to pursue employment, what percentage are employed? (The bureau excludes those who are under 16 years old, are active-duty military, or are — in the bureau’s own words — “inmates of institutions (for example, penal and mental facilities, homes for the aged),” from its tallies.)

Barack Obama

Over the past quarter of a century (a total of 300 months), dating back to May 1987 and the Reagan administration, here are the 30 worst months (that is, the bottom 10 percent) for the employment-population ratio, along with the man who happened to be in office at that particular time:

1. (tie) July 2011, 58.2 percent, Barack Obama
1. (tie) June 2011, 58.2 percent, Obama
1. (tie) November 2010, 58.2 percent, Obama
1. (tie) December 2009, 58.2 percent, Obama
5. (tie) August 2011, 58.3 percent, Obama
5. (tie) December 2010, 58.3 percent, Obama
5. (tie) October 2010, 58.3 percent, Obama
8. (tie) April 2012, 58.4 percent, Obama
8. (tie) October 2011, 58.4 percent, Obama
8. (tie) September 2011, 58.4 percent, Obama
8. (tie) May 2011, 58.4 percent, Obama
8. (tie) April 2011, 58.4 percent, Obama
8. (tie) February 2011, 58.4 percent, Obama
8. (tie) January 2011, 58.4 percent, Obama
15. (tie) March 2012, 58.5 percent, Obama
15. (tie) January 2012, 58.5 percent, Obama
15. (tie) December 2011, 58.5 percent, Obama
15. (tie) November 2011, 58.5 percent, Obama
15. (tie) March 2011, 58.5 percent, Obama
15. (tie) September 2010, 58.5 percent, Obama
15. (tie) August 2010, 58.5 percent, Obama
15. (tie) July 2010, 58.5 percent, Obama
15. (tie) June 2010, 58.5 percent, Obama
15. (tie) March 2010, 58.5 percent, Obama
15. (tie) February 2010, 58.5 percent, Obama
15. (tie) January 2010, 58.5 percent, Obama
15. (tie) November 2009, 58.5 percent, Obama
15. (tie) October 2009, 58.5 percent, Obama
29. February 2012, 58.6 percent, Obama
30. (tie) May 2010, 58.7 percent, Obama
30. (tie) April 2010, 58.7 percent, Obama
30. (tie) September 2009, 58.7 percent, Obama

Interestingly, the 30 (or 32, including ties) worst months for employment in the past 25 years have all come after the most recent recession ended, in June 2009. In other words, they’ve all come during the Obama “recovery.”

What’s more, under every other president during the past 25 years (spanning from the later stages of the Reagan presidency through the entire George W. Bush presidency), the employment-population ratio was always over 60 percent — every single month, for 260 consecutive months. In vivid contrast, with the exception of the month in which he took office (January 2009) and his first full month in office (February 2009), the employment-population ratio under Obama has always been under 60 percent — every single month, for 38 consecutive months. (For 32 consecutive months — from September 2009 to the present day — it’s been under 59 percent.)

In fact, the worst non-Obama month in the past 25 years was December 2008, when the employment-population ratio was 61.0 percent under George W. Bush. Comparatively, Obama’s best month to date (not counting January 2009, when he entered midstream) was his first, February 2009, when the employment-population ratio was 60.3 percent. In other words, over the past 25 years, the worst month under any other president has beaten the best month under Obama.

 


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Beckwith

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These "Stutistics" explains it

 


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Beckwith

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The 30 worst unemployment months all under the Obama umbrella

This is an accomplishment that Obama can be proud of, the 30 worst months of unemployment in the last 25 years. Stuart Varney sets the employment record straight.


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Unemployment rises again

 

The Conservative Byte is reporting that for those hoping for good economic news out of Washington today, they're in for a terrible disappointment. According to the latest jobs report from the Department of Labor, the economy created only 69,000 jobs in May -- well below expectations -- while the unemployment rate rose to 8.2 percent, and job numbers from March and April were revised significantly downward. Meanwhile, Taxmageddon is threatening the U.S. economy and holding back growth, but strangely, Barack Obama isn't doing anything about it.
 
Heritage's J.D. Foster explains that while a second recession isn't necessarily on the horizon, the news is nothing for the Obama Administration to brag about:
 
These jobs figures are consistent with other fairly bleak news. For example, first quarter economic growth was revised down to 1.9 percent, while an important measure of performance in the heartland, the Chicago Purchasing Managers' Index, fell to its lowest level since September 2009 which was near the bottom of the recent recession. None of this necessarily points to a second recession, more like continued muddling and hardly in a position to withstand an economic shock such as, for example, the developing deep recession in Europe.
 

Continue Reading on blog.heritage.org ...

 


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After bad jobs report, Obama parties with radicals

Matt Lewis is reporting that on the heels of a depressing jobs report, Barack Obama is raising $5 million at fundraisers in Chicago this Friday -- including one co-hosted by Marilyn Katz (TheObamaFile.com bio).

So who is Marilyn Katz? According to the New York Times, she’s the person who gave Obama “entry into another activist network: the foot soldiers of the white student and black power movements that helped define Chicago in the 1960s.  As a leader of Students for a Democratic Society then, Ms. Katz organized Vietnam War protests, throwing nails in the street to thwart the police.

The Chicago Tribute also noted that Katz, “once advocated throwing studded nails in front of police cars, back in the SDS days when the group was alleged to have thrown cellophane bags full of human excrement at cops and cans of urine and golf balls impaled with nails.”

This is not to say she hasn’t evolved. As the Tribune added: “Under this Daley, [Katz's] firm, MK Communications, has many city deals, and one involves public relations for the Chicago Police Department’s community policing program.  From nails to contracts, the Chicago Way.  Apparently, irony was not a ’60s thing.”

Aside from the jobs report, it also seems telling that -- with the Wisconsin recall just days away -- Obama is spending his time in another Mid-Western state, raising money for his own re-election.  Perhaps party loyalty only goes so far.

Also worth noting is that Katz, of course, is also a friend of unrepentant domestic terrorist -- and Obama pal -- Bill Ayers. (Apparently, donating money to Obama’s campaign is the best way for terrorists to stay off his “kill list”?)


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The chart that will get Obama fired

 

Henry Blodget says Friday's lousy jobs report was a big blow to Barack Obama's reelection campaign.
 
One of the single biggest factors in a President's reelection chances is the direction of the unemployment rate and monthly jobs numbers in the six months leading up to the election. We're getting very close to the six-month mark now. And, from Obama's perspective, the jobs numbers are headed the wrong way.
 
The Obama administration will continue to tell the same story that they have told from the beginning: The economy isn't healthy enough, but it's much healthier than it was under the Republicans -- and Obama said from the beginning that it would be a long, slow slog.
 
That's the truth: It was always going to be long, slow slog. The country's huge debt load, housing collapse, and financial crisis were always going to take years (if not decades) to work through, no matter what policymakers did.
 
But the trouble for Obama is that he didn't manage the country's expectations well enough, especially with respect to unemployment.
 
On the contrary: He overpromised and underdelivered.
 
Last fall, Ezra Klein of the Washington Post wrote an excellent treatise on how the American economy collapsed. Klein included what might be described as "the chart that will get President Obama fired."
 
The chart (below) shows three lines:
 
   1.The incoming Obama Administration's projections for what the unemployment rate would be if no stimulus was enacted in the depths of the financial crisis (light blue).
   2.The Obama Administration's projections for what the unemployment rate would be with the President's stimulus plan (dark blue).
   3.The actual unemployment rate (through early 2011 -- it's now 8.2%).
 
The actual unemployment rate in the chart, you will note, is much higher than the "nightmare scenario" initially envisioned by the Obama Administration (with no stimulus). In either case -- stimulus or no stimulus -- the unemployment rate was supposed to be down to 5.5% by now. And it's actually above 8%.

 

 

As the chart makes instantly crystal clear, the Obama administration drastically underestimated how bad the economy was and drastically overestimated its ability to do something about it.
 
As a result of this, Barack Obama over-promised and under-delivered on the single most important challenge of his Presidency.
 
Also as a result, Obama gave the Republicans ammunition to argue that his stimulus "failed," when, in fact, it helped matters considerably (just not enough to fix everything).
 
Could the Obama Administration have fixed the economy in four years had they had done something different?
 
In my opinion, no.
 
As a quick glance at debt-to-GDP charts show, this recession was not a run-of-the-mill cyclical recession. It was a debt-fueled balance sheet recession. And if there's one thing history shows about those, they take a long time to fix. (See Japan and the Great Depression).
 
But Obama could have given himself a better chance to get re-elected despite the horrible economy. If Obama had recognized how bad things were, asked for a much bigger stimulus than he ended up asking for, and, importantly, set the appropriate expectations, he'd probably have been able to pin the blame for the mess where it belongs: On the three decades of decisions that facilitated the debt build-up that eventually culminated in the financial crisis.
 
Instead, however, Obama over-promised and under-delivered. And this will make it that much harder for him to get re-elected.


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