Now we blame Obama for saying Americans cling to their guns and religion because those words may doom us all. So go ahead and tell me how Obama`s words
matter and yet the President is not responsible for the economy.
President Bush the leader of this country has drove us to a recession but because he is a republican his actions do not matter as much as little rumors over
what Obama said and meant.
NEW YORK (CNNMoney.com)—Employers trimmed jobs from their payrolls in June for the sixth straight month, as the government’s closely watched report Thursday showed continued weakness in the labor market.
The Labor Department reported a net loss of 62,000 jobs in the month. That matched the job loss figure for May, which was revised higher from 49,000. Economists surveyed by Briefing.com had forecast a loss of 60,000 jobs.
The June number brought to 438,000 the number of jobs lost by the U.S. economy so far this year.
The unemployment rate stayed at 5.5%. Economists had forecast the rate would come in at 5.4% in the latest reading.
In a separate report, the department said initial claims for unemployment insurance rose 16,000 to 404,000 in the latest week. Economist Robert Brusca of FAO Economics said the reading over 400,000 is a “classic recession signal.”
So, let’s do something to get us out of recession...howzabout we lower taxes so people can keep more of their money and businesses can hire more people? Why not do some things that create more jobs like...let us drill for oil and build nuclear plants?
Oh, yeah...those are things Democrats WON’T do. They’ll just try and put money into the hands of people who won’t do anything but spend it.
By the way, it’s STILL presumptuous to declare “recession” at this point. At worst, we’re probably flat - we haven’t shown negative growth yet, and the stock market isn’t crashing. Housing is correcting itself (from being over - NOT PROPERLY - valued) to where it should have been, and we’ll probably see a bit further decline in that until we get back to the norm. We MAY be looking at a BRIEF recession, but we’ll pull out of it, as long as no one does something stupid like raising taxes or somesuch.
Why do keep crying for the democrats to take care of you. If you can not live off of working at a fast food place you just leave the country.
Then again they could raise the interest rate and help strengthen the dollar which would be a good place to start. They could take away any tax breaks
for any company that moves out of the country. Take away tax breaks for the oil companies who have been making record profits.
The best thing that will happen is when our worthless president bush is no longer in office and I say worthless because everyone says it is not
his job are his fault our economy sucks.
I think you were a bit...too tired when you wrote that. You may want to try again.
That being said, why would an American company want to stay if we make it MORE expensive to do business here? If anything, we need to help create situations where they would WANT to stay here and WANT to keep money in our banks. It’s something those on the left REFUSE to understand about business - that they are going to go where it’s cheapest to produce, cheapest to pay, and cheapest to ship, among other things.
Please tell my WHY a company would want to remain in business here if all we are going to do is make it more expensive? Who do you think is going to pay for ANY increase in those taxes? YOU AND ME WHEN THEY ADD ANY TAX INCREASE INTO THE PRICE OF THEIR PRODUCTS.
Lefties are STUPID when it comes to business matters.
I think you were a bit...too tired when you wrote that. You may want to try again.
That being said, why would an American company want to stay if we make it MORE expensive to do business here? If anything, we need to help create situations where they would WANT to stay here and WANT to keep money in our banks. It’s something those on the left REFUSE to understand about business - that they are going to go where it’s cheapest to produce, cheapest to pay, and cheapest to ship, among other things.
Please tell my WHY a company would want to remain in business here if all we are going to do is make it more expensive? Who do you think is going to pay for ANY increase in those taxes? YOU AND ME WHEN THEY ADD ANY TAX INCREASE INTO THE PRICE OF THEIR PRODUCTS.
Lefties are STUPID when it comes to business matters.
So you see companies moving over seas and American losing Jobs as a good thing for our country ?
I can remember when they told Americans to buy American goods and support American companies, but I guess the same companies owe nothing to the
people who were foolish enough to support them.
Sorry dm, the only glasses being worn lately are the Obama Messiah glasses.. I realize bush’s failings, but he’s still a great president, and a good man.
This recession reminds me a lot of the seventies. It is accompanied by inflation which is really a contradiction. In a recession the demand for goods and services go down and prices should too. It happened under Ford and Carter too. Stagflation.
The only way to end this recession is the same way Reagan and Volcker ended the doldrums of the seventies---raise interest rates, contain spending and lower taxes. (Even though the budget went up under Reagan the first three years of his administration spending tightened relative to the GDP even with the tax cuts.) Probably one of the greatest things Reagan did was stay hands off of Volcker as he pushed interest higher and higher and unemployment soared to 10%. When he finally broke inflation we had 20 years of remarkable economic growth. Although appointed by Carter, Reagan appointed him to a second term in 1983 to the protest of farmers and the construction industry as interest rates had hit 20%.
Today the Fed has pressure from the holders of mortgages to keep rates low and money flowing. There is certainly deflation in real estate and if deflation spreads to other assets in the economy we will be in real trouble. Our unemployment is very low considering the state of the economy. Both parties are responsible for this mess. Those stupid efforts to expand home ownership under Clinton got these people in trouble with little down payment loans and the spending of the Republicans is just embarrassing.
I hope Bernanke is right to keep rates low but I sure wish they would do something to prop up the dollar. All you people who wanted less goods and services from foreign countries should be happy now. Take away the price of oil imports and our trade deficit is lower than it was been in years. Sucks doesn’t it? I liked it a lot better when we paid those Chinese and Japanese to make cheap stuff for us while we were turning out airplanes, software, ect.
Regardless of the Fed’s policy the President and Congress could do a lot for the economy by balancing the budget. This idea that deficit spending helps the economy is just stupid Keynsian economics that Bush should have left to the leftist among the democrats. It is an old Galbraith line of thinking that Carter and Johnson and Ford followed.
As much as I fear the prospects of an unqualified, liberal, product of the black political world of corruption and wealth Obama, I take heart in that Volcker has endorsed him and is an economic adviser.
I am very happy Phil Gramm appears headed for the Treasury Secretary job in a McCain administration.
Either way if they listen to their advisers we will be better off with the new guy economically---if they listen.
I think you were a bit...too tired when you wrote that. You may want to try again.
That being said, why would an American company want to stay if we make it MORE expensive to do business here? If anything, we need to help create situations where they would WANT to stay here and WANT to keep money in our banks. It’s something those on the left REFUSE to understand about business - that they are going to go where it’s cheapest to produce, cheapest to pay, and cheapest to ship, among other things.
Please tell my WHY a company would want to remain in business here if all we are going to do is make it more expensive? Who do you think is going to pay for ANY increase in those taxes? YOU AND ME WHEN THEY ADD ANY TAX INCREASE INTO THE PRICE OF THEIR PRODUCTS.
Lefties are STUPID when it comes to business matters.
So you see companies moving over seas and American losing Jobs as a good thing for our country ?
I can remember when they told Americans to buy American goods and support American companies, but I guess the same companies owe nothing to the
people who were foolish enough to support them.
Amazing. You drew the PRECISE wrong conclusion from my statements. I am stating that if we want to keep businesses in America, you DON’T punish them, you give them a positive reason to stay so that we can be the ones who have the jobs and make the money, not someone in another country. Companies—particularly large corporations - WILL go where the cost of production is cheapest. If we “punish” them, why should they keep the jobs here? And who do you think will pay for that punishment? COST ALWAYS COMES DOWN TO BE PAID BY THE CONSUMER. Why should a company have loyalty to a place that keeps screwing it over? PLEASE tell me how your vision is good economic policy, and how it will create jobs and WHERE has it EVER worked?
This recession reminds me a lot of the seventies. It is accompanied by inflation which is really a contradiction. In a recession the demand for goods and services go down and prices should too. It happened under Ford and Carter too. Stagflation.
The only way to end this recession is the same way Reagan and Volcker ended the doldrums of the seventies---raise interest rates, contain spending and lower taxes. (Even though the budget went up under Reagan the first three years of his administration spending tightened relative to the GDP even with the tax cuts.) Probably one of the greatest things Reagan did was stay hands off of Volcker as he pushed interest higher and higher and unemployment soared to 10%. When he finally broke inflation we had 20 years of remarkable economic growth. Although appointed by Carter, Reagan appointed him to a second term in 1983 to the protest of farmers and the construction industry as interest rates had hit 20%.
Today the Fed has pressure from the holders of mortgages to keep rates low and money flowing. There is certainly deflation in real estate and if deflation spreads to other assets in the economy we will be in real trouble. Our unemployment is very low considering the state of the economy. Both parties are responsible for this mess. Those stupid efforts to expand home ownership under Clinton got these people in trouble with little down payment loans and the spending of the Republicans is just embarrassing.
I hope Bernanke is right to keep rates low but I sure wish they would do something to prop up the dollar. All you people who wanted less goods and services from foreign countries should be happy now. Take away the price of oil imports and our trade deficit is lower than it was been in years. Sucks doesn’t it? I liked it a lot better when we paid those Chinese and Japanese to make cheap stuff for us while we were turning out airplanes, software, ect.
Regardless of the Fed’s policy the President and Congress could do a lot for the economy by balancing the budget. This idea that deficit spending helps the economy is just stupid Keynsian economics that Bush should have left to the leftist among the democrats. It is an old Galbraith line of thinking that Carter and Johnson and Ford followed.
As much as I fear the prospects of an unqualified, liberal, product of the black political world of corruption and wealth Obama, I take heart in that Volcker has endorsed him and is an economic adviser.
I am very happy Phil Gramm appears headed for the Treasury Secretary job in a McCain administration.
Either way if they listen to their advisers we will be better off with the new guy economically---if they listen.
I concur - though I don’t think it’s THAT bad, and I think that the American investor is smarter now than then. It’s time to raise interest rates again as well - I think that the problem wasn’t that they were too low, it’s that they were too low and we got too many people playing dirty (akin to the S&L;issues in the mid-late 80s is a good parallel). Time will tell, but I think we could have gone a LOT worse on the inflation and interest rates, and I think the Fed is making the right decision to bring the rates back up over the next few quarters (though I think we should have had a .25-.50 bump up this last time). We’ll see.
I’m a fan of balancing the budget, but not by raising taxes, and I think that needs to be spelled out in the discussion. The government ALWAYS needs to cut the fat before dealing with taxes or spending, something that has hardly been done the last 50+ years. We also need a tax reform along the lines of 1986, something that simplifies both corporate and personal taxes so that any savings through some loopholes can be offset by the savings in time spent doing taxes.
This recession reminds me a lot of the seventies. It is accompanied by inflation which is really a contradiction. In a recession the demand for goods and services go down and prices should too. It happened under Ford and Carter too. Stagflation.
The only way to end this recession is the same way Reagan and Volcker ended the doldrums of the seventies---raise interest rates, contain spending and lower taxes. (Even though the budget went up under Reagan the first three years of his administration spending tightened relative to the GDP even with the tax cuts.) Probably one of the greatest things Reagan did was stay hands off of Volcker as he pushed interest higher and higher and unemployment soared to 10%. When he finally broke inflation we had 20 years of remarkable economic growth. Although appointed by Carter, Reagan appointed him to a second term in 1983 to the protest of farmers and the construction industry as interest rates had hit 20%.
Today the Fed has pressure from the holders of mortgages to keep rates low and money flowing. There is certainly deflation in real estate and if deflation spreads to other assets in the economy we will be in real trouble. Our unemployment is very low considering the state of the economy. Both parties are responsible for this mess. Those stupid efforts to expand home ownership under Clinton got these people in trouble with little down payment loans and the spending of the Republicans is just embarrassing.
I hope Bernanke is right to keep rates low but I sure wish they would do something to prop up the dollar. All you people who wanted less goods and services from foreign countries should be happy now. Take away the price of oil imports and our trade deficit is lower than it was been in years. Sucks doesn’t it? I liked it a lot better when we paid those Chinese and Japanese to make cheap stuff for us while we were turning out airplanes, software, ect.
Regardless of the Fed’s policy the President and Congress could do a lot for the economy by balancing the budget. This idea that deficit spending helps the economy is just stupid Keynsian economics that Bush should have left to the leftist among the democrats. It is an old Galbraith line of thinking that Carter and Johnson and Ford followed.
As much as I fear the prospects of an unqualified, liberal, product of the black political world of corruption and wealth Obama, I take heart in that Volcker has endorsed him and is an economic adviser.
I am very happy Phil Gramm appears headed for the Treasury Secretary job in a McCain administration.
Either way if they listen to their advisers we will be better off with the new guy economically---if they listen.
I concur - though I don’t think it’s THAT bad, and I think that the American investor is smarter now than then. It’s time to raise interest rates again as well - I think that the problem wasn’t that they were too low, it’s that they were too low and we got too many people playing dirty (akin to the S&L;issues in the mid-late 80s is a good parallel). Time will tell, but I think we could have gone a LOT worse on the inflation and interest rates, and I think the Fed is making the right decision to bring the rates back up over the next few quarters (though I think we should have had a .25-.50 bump up this last time). We’ll see.
I’m a fan of balancing the budget, but not by raising taxes, and I think that needs to be spelled out in the discussion. The government ALWAYS needs to cut the fat before dealing with taxes or spending, something that has hardly been done the last 50+ years. We also need a tax reform along the lines of 1986, something that simplifies both corporate and personal taxes so that any savings through some loopholes can be offset by the savings in time spent doing taxes.
Spending and tax cuts are needed. We need to cut corporate taxes badly. We are not competitive on corporate taxes and there are companies moving profit centers off shore as a result. You can see how we stack up here. Almost all of the major economies have lower combined state and federal taxes than our average.
This recession reminds me a lot of the seventies. It is accompanied by inflation which is really a contradiction. In a recession the demand for goods and services go down and prices should too. It happened under Ford and Carter too. Stagflation.
The only way to end this recession is the same way Reagan and Volcker ended the doldrums of the seventies---raise interest rates, contain spending and lower taxes. (Even though the budget went up under Reagan the first three years of his administration spending tightened relative to the GDP even with the tax cuts.) Probably one of the greatest things Reagan did was stay hands off of Volcker as he pushed interest higher and higher and unemployment soared to 10%. When he finally broke inflation we had 20 years of remarkable economic growth. Although appointed by Carter, Reagan appointed him to a second term in 1983 to the protest of farmers and the construction industry as interest rates had hit 20%.
Today the Fed has pressure from the holders of mortgages to keep rates low and money flowing. There is certainly deflation in real estate and if deflation spreads to other assets in the economy we will be in real trouble. Our unemployment is very low considering the state of the economy. Both parties are responsible for this mess. Those stupid efforts to expand home ownership under Clinton got these people in trouble with little down payment loans and the spending of the Republicans is just embarrassing.
I hope Bernanke is right to keep rates low but I sure wish they would do something to prop up the dollar. All you people who wanted less goods and services from foreign countries should be happy now. Take away the price of oil imports and our trade deficit is lower than it was been in years. Sucks doesn’t it? I liked it a lot better when we paid those Chinese and Japanese to make cheap stuff for us while we were turning out airplanes, software, ect.
Regardless of the Fed’s policy the President and Congress could do a lot for the economy by balancing the budget. This idea that deficit spending helps the economy is just stupid Keynsian economics that Bush should have left to the leftist among the democrats. It is an old Galbraith line of thinking that Carter and Johnson and Ford followed.
As much as I fear the prospects of an unqualified, liberal, product of the black political world of corruption and wealth Obama, I take heart in that Volcker has endorsed him and is an economic adviser.
I am very happy Phil Gramm appears headed for the Treasury Secretary job in a McCain administration.
Either way if they listen to their advisers we will be better off with the new guy economically---if they listen.
I concur - though I don’t think it’s THAT bad, and I think that the American investor is smarter now than then. It’s time to raise interest rates again as well - I think that the problem wasn’t that they were too low, it’s that they were too low and we got too many people playing dirty (akin to the S&L;issues in the mid-late 80s is a good parallel). Time will tell, but I think we could have gone a LOT worse on the inflation and interest rates, and I think the Fed is making the right decision to bring the rates back up over the next few quarters (though I think we should have had a .25-.50 bump up this last time). We’ll see.
I’m a fan of balancing the budget, but not by raising taxes, and I think that needs to be spelled out in the discussion. The government ALWAYS needs to cut the fat before dealing with taxes or spending, something that has hardly been done the last 50+ years. We also need a tax reform along the lines of 1986, something that simplifies both corporate and personal taxes so that any savings through some loopholes can be offset by the savings in time spent doing taxes.
Two very good posts. Unfortunately though, supply-siders on the right don’t believe a weak dollar is a bad thing, so unless McCain comes out forcefully for rehabilitating the dollar, the special interests on the right are likely to fight to keep liquidity more easy to come by. Corporate taxation (to my knowledge) has not been addressed to the extent personal and capital gains taxation has by Obama. Any growth-slowing bump (which I don’t believe will happen because of the nature of capital gains vis-a-vis personal or corporate taxes) that may be experienced in the capital gains rate increase in an Obama Administration could and should be offset by relief directly to corporate entities. Hopefully both of these issues are discussed in greater detail by both candidates, although I think the closer to November we get, the more the election will polarize on social issues. Whomever is the next POTUS will sadly inherit quite a fiscal mess from Bush.
This recession reminds me a lot of the seventies. It is accompanied by inflation which is really a contradiction. In a recession the demand for goods and services go down and prices should too. It happened under Ford and Carter too. Stagflation.
The only way to end this recession is the same way Reagan and Volcker ended the doldrums of the seventies---raise interest rates, contain spending and lower taxes. (Even though the budget went up under Reagan the first three years of his administration spending tightened relative to the GDP even with the tax cuts.) Probably one of the greatest things Reagan did was stay hands off of Volcker as he pushed interest higher and higher and unemployment soared to 10%. When he finally broke inflation we had 20 years of remarkable economic growth. Although appointed by Carter, Reagan appointed him to a second term in 1983 to the protest of farmers and the construction industry as interest rates had hit 20%.
Today the Fed has pressure from the holders of mortgages to keep rates low and money flowing. There is certainly deflation in real estate and if deflation spreads to other assets in the economy we will be in real trouble. Our unemployment is very low considering the state of the economy. Both parties are responsible for this mess. Those stupid efforts to expand home ownership under Clinton got these people in trouble with little down payment loans and the spending of the Republicans is just embarrassing.
I hope Bernanke is right to keep rates low but I sure wish they would do something to prop up the dollar. All you people who wanted less goods and services from foreign countries should be happy now. Take away the price of oil imports and our trade deficit is lower than it was been in years. Sucks doesn’t it? I liked it a lot better when we paid those Chinese and Japanese to make cheap stuff for us while we were turning out airplanes, software, ect.
Regardless of the Fed’s policy the President and Congress could do a lot for the economy by balancing the budget. This idea that deficit spending helps the economy is just stupid Keynsian economics that Bush should have left to the leftist among the democrats. It is an old Galbraith line of thinking that Carter and Johnson and Ford followed.
As much as I fear the prospects of an unqualified, liberal, product of the black political world of corruption and wealth Obama, I take heart in that Volcker has endorsed him and is an economic adviser.
I am very happy Phil Gramm appears headed for the Treasury Secretary job in a McCain administration.
Either way if they listen to their advisers we will be better off with the new guy economically---if they listen.
I concur - though I don’t think it’s THAT bad, and I think that the American investor is smarter now than then. It’s time to raise interest rates again as well - I think that the problem wasn’t that they were too low, it’s that they were too low and we got too many people playing dirty (akin to the S&L;issues in the mid-late 80s is a good parallel). Time will tell, but I think we could have gone a LOT worse on the inflation and interest rates, and I think the Fed is making the right decision to bring the rates back up over the next few quarters (though I think we should have had a .25-.50 bump up this last time). We’ll see.
I’m a fan of balancing the budget, but not by raising taxes, and I think that needs to be spelled out in the discussion. The government ALWAYS needs to cut the fat before dealing with taxes or spending, something that has hardly been done the last 50+ years. We also need a tax reform along the lines of 1986, something that simplifies both corporate and personal taxes so that any savings through some loopholes can be offset by the savings in time spent doing taxes.
Two very good posts. Unfortunately though, supply-siders on the right don’t believe a weak dollar is a bad thing, so unless McCain comes out forcefully for rehabilitating the dollar, the special interests on the right are likely to fight to keep liquidity more easy to come by. Corporate taxation (to my knowledge) has not been addressed to the extent personal and capital gains taxation has by Obama. Any growth-slowing bump (which I don’t believe will happen because of the nature of capital gains vis-a-vis personal or corporate taxes) that may be experienced in the capital gains rate increase in an Obama Administration could and should be offset by relief directly to corporate entities. Hopefully both of these issues are discussed in greater detail by both candidates, although I think the closer to November we get, the more the election will polarize on social issues. Whomever is the next POTUS will sadly inherit quite a fiscal mess from Bush.
Leon you know there will be lots of pressure from the left for keeping the dollar weak. Obama is not going to look in the eyes of the AFL-CIO and tell them he is for strengthening the dollar.
This recession reminds me a lot of the seventies. It is accompanied by inflation which is really a contradiction. In a recession the demand for goods and services go down and prices should too. It happened under Ford and Carter too. Stagflation.
The only way to end this recession is the same way Reagan and Volcker ended the doldrums of the seventies---raise interest rates, contain spending and lower taxes. (Even though the budget went up under Reagan the first three years of his administration spending tightened relative to the GDP even with the tax cuts.) Probably one of the greatest things Reagan did was stay hands off of Volcker as he pushed interest higher and higher and unemployment soared to 10%. When he finally broke inflation we had 20 years of remarkable economic growth. Although appointed by Carter, Reagan appointed him to a second term in 1983 to the protest of farmers and the construction industry as interest rates had hit 20%.
Today the Fed has pressure from the holders of mortgages to keep rates low and money flowing. There is certainly deflation in real estate and if deflation spreads to other assets in the economy we will be in real trouble. Our unemployment is very low considering the state of the economy. Both parties are responsible for this mess. Those stupid efforts to expand home ownership under Clinton got these people in trouble with little down payment loans and the spending of the Republicans is just embarrassing.
I hope Bernanke is right to keep rates low but I sure wish they would do something to prop up the dollar. All you people who wanted less goods and services from foreign countries should be happy now. Take away the price of oil imports and our trade deficit is lower than it was been in years. Sucks doesn’t it? I liked it a lot better when we paid those Chinese and Japanese to make cheap stuff for us while we were turning out airplanes, software, ect.
Regardless of the Fed’s policy the President and Congress could do a lot for the economy by balancing the budget. This idea that deficit spending helps the economy is just stupid Keynsian economics that Bush should have left to the leftist among the democrats. It is an old Galbraith line of thinking that Carter and Johnson and Ford followed.
As much as I fear the prospects of an unqualified, liberal, product of the black political world of corruption and wealth Obama, I take heart in that Volcker has endorsed him and is an economic adviser.
I am very happy Phil Gramm appears headed for the Treasury Secretary job in a McCain administration.
Either way if they listen to their advisers we will be better off with the new guy economically---if they listen.
I concur - though I don’t think it’s THAT bad, and I think that the American investor is smarter now than then. It’s time to raise interest rates again as well - I think that the problem wasn’t that they were too low, it’s that they were too low and we got too many people playing dirty (akin to the S&L;issues in the mid-late 80s is a good parallel). Time will tell, but I think we could have gone a LOT worse on the inflation and interest rates, and I think the Fed is making the right decision to bring the rates back up over the next few quarters (though I think we should have had a .25-.50 bump up this last time). We’ll see.
I’m a fan of balancing the budget, but not by raising taxes, and I think that needs to be spelled out in the discussion. The government ALWAYS needs to cut the fat before dealing with taxes or spending, something that has hardly been done the last 50+ years. We also need a tax reform along the lines of 1986, something that simplifies both corporate and personal taxes so that any savings through some loopholes can be offset by the savings in time spent doing taxes.
Two very good posts. Unfortunately though, supply-siders on the right don’t believe a weak dollar is a bad thing, so unless McCain comes out forcefully for rehabilitating the dollar, the special interests on the right are likely to fight to keep liquidity more easy to come by. Corporate taxation (to my knowledge) has not been addressed to the extent personal and capital gains taxation has by Obama. Any growth-slowing bump (which I don’t believe will happen because of the nature of capital gains vis-a-vis personal or corporate taxes) that may be experienced in the capital gains rate increase in an Obama Administration could and should be offset by relief directly to corporate entities. Hopefully both of these issues are discussed in greater detail by both candidates, although I think the closer to November we get, the more the election will polarize on social issues. Whomever is the next POTUS will sadly inherit quite a fiscal mess from Bush.
Leon you know there will be lots of pressure from the left for keeping the dollar weak. Obama is not going to look in the eyes of the AFL-CIO and tell them he is for strengthening the dollar.
I suppose it will depend on how the weak dollar is addressed to the labor left. If the (flawed) argument that our “exports are up, so keeping a weak dollar is good,” what you say may have a grain of truth in it. But if the argument is that a weak dollar is causing commodity inflation across the board, then I think that affects many lower middle and middle class voters in a more realistic and significant way than the “export” argument does. After all, paying two to three thousand more dollars a year for gas and other commodities affects those most likely to be considered “blue collar” quite a bit more than the upper-middle class professional.
"NEW YORK (CNNMoney.com)—Employers trimmed jobs from their payrolls in June for the sixth straight month, as the government’s closely watched report Thursday showed continued weakness in the labor market.
The Labor Department reported a net loss of 62,000 jobs in the month. That matched the job loss figure for May, which was revised higher from 49,000. Economists surveyed by Briefing.com had forecast a loss of 60,000 jobs.
The June number brought to 438,000 the number of jobs lost by the U.S. economy so far this year.
The unemployment rate stayed at 5.5%. Economists had forecast the rate would come in at 5.4% in the latest reading. “
Praytell, why is the HEADLINE that 62m jobs were lost, when the UNemployment rate remained relatively stable. Does the media not realize that business hires and fires every day, and it is not a “total sum” game. Of course, we all know the reason that the horrible news of job loss trumps the relatively stable unemployment rate, don’t we?
