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Larrry
Rancher
Joined: 23 Jul 2007
Posts: 5560
Location: The good ole USA
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 Posted: Wed Feb 01, 2012 8:36 am Post subject: WE TOLD YOU SO |
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headlines on drudge:
Homeownership rates plummet to 66%...
CBO says real unemployment at 10%...
Federal taxes to jump 30% in 2 years...
S&P Warns of Cuts; Another US Downgrade Coming?
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Steve
Rancher
Joined: 13 Feb 2005
Posts: 9677
Location: Wildwood New Jersey
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| Posted: Wed Feb 01, 2012 10:32 am Post subject: |
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| Jobless Rate Is 11.4% With Realistic Labor Force Participation Rate |
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| When people leave the labor force it could be due to discouragement of the long-term unemployed or by choice over retirement or child care. The labor force has dropped dramatically over the course of recession and recovery, and concerns have been raised it was due to discouraged workers. |
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Tam
Rancher
Joined: 10 Feb 2005
Posts: 8696
Location: Sask
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Larrry
Rancher
Joined: 23 Jul 2007
Posts: 5560
Location: The good ole USA
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Tam
Rancher
Joined: 10 Feb 2005
Posts: 8696
Location: Sask
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Oldtimer
Rancher
Joined: 10 Feb 2005
Posts: 24735
Location: Northeast Montana
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| Posted: Wed Feb 01, 2012 1:29 pm Post subject: |
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..Hot start: Dow and S&P have best January since '97A slow, steady climb leads Dow and S&P to their best January since 1997
By Pallavi Gogoi, AP Business Writer | Associated Press – 20 hours ago
NEW YORK (AP) -- It's the best start for stocks in 15 years.
In what was mostly a slow and steady climb, the Dow Jones industrial average rose 3.4 percent in January and the Standard & Poor's 500 gained 4.4 percent, the best performances for both indexes to open a year since 1997.
Investors were encouraged by modest but welcome improvement in the U.S. economy, including an 8.5 percent unemployment rate, the lowest in almost three years. Corporate profits didn't wow anyone — except Apple's — but they were good enough. |
In the areas where people really want to work- they are finding jobs.. The just released last quarter unemployment rate for MT was 6.8%- and that number would be much lower except for the reservation counties and old hippy counties where it runs as high as 9-10% (and will never go down because they don't want to work)... Local county is 4.3% with many of the neighboring counties in the 2% range...
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hypocritexposer
Rancher
Joined: 12 Apr 2008
Posts: 17414
Location: real world
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| Posted: Wed Feb 01, 2012 1:46 pm Post subject: |
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seems the media has been able to fool OT....AGAIN.
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February 1, 2012
Obamanomics Has Government Workers Happy
By Investor's Business Daily
Economy: The media's "improving economy" this election year exists only in Democrats' talking points. A new congressional report shows that joblessness is underestimated, while debt skyrockets.
Thirty-six pages into the Congressional Budget Office's "Budget and Economic Outlook: Fiscal Years 2012 to 2022," released Tuesday, is the news that "the unemployment rate in the fourth quarter of 2011 would have been about 1 1/4 percentage points higher than the actual rate of 8.7%" once the "unusually large decline over so short a time" in labor force participation is factored out.
This means that, contrary to the claims of a media rooting for Obama re-election, the real jobless rate is nearly 10% - belying the notion of an Obama-led "recovery."
Moreover, citing the soon-to-expire Bush tax cuts, CBO warns that "the dampening effects of the increase in tax rates in 2013," along with the impact of retiring baby boomers, will "more than offset" demand for labor as the economy recovers.
Worse, as CNS News' Terry Jeffrey notes, the CBO forecasts a 30% jump in tax revenues between 2012 and 2014. The U.S. economy will perform "below its potential" for the next six years, the CBO says, with the unemployment rate remaining above 7% for the next three.
In short, if current policies continue, "hope" and "change" - at least in the form of a prosperous economy - won't be coming any time soon.
If that weren't bad enough, the CBO forecast another $1 trillion deficit this year and $4.7 trillion over the next four years, as the government speeds toward a fiscal abyss on a trip financed by the taxpayers' credit card.
"Four straight years of trillion-dollar deficits, no credible plan to lift the crushing burden of debt," complained House Budget Committee Chairman Paul Ryan, R-Wis., in reaction to the report.
But as private-sector workers get stiffed, are their government counterparts feeling their pain? In a separate but not unrelated report, the CBO noted that federal employees' lavish pay and benefits put them far ahead of their private sector counterparts.
Noncollege educated federal workers averaged "36% higher total compensation than similar private-sector employees," the CBO said. Those with a bachelor's degree, meanwhile, averaged 15% higher. Overall, "the federal government paid 16% more in total compensation" than the private sector.
The dominant media may tell you a new day is dawning in Obama's America. In fact, our overfed government is partying, while those of us in the private sector pick up the tab for its excesses. |
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Lonecowboy
Rancher
Joined: 10 Feb 2006
Posts: 1880
Location: eastern Montana
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Larrry
Rancher
Joined: 23 Jul 2007
Posts: 5560
Location: The good ole USA
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Oldtimer
Rancher
Joined: 10 Feb 2005
Posts: 24735
Location: Northeast Montana
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Tam
Rancher
Joined: 10 Feb 2005
Posts: 8696
Location: Sask
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Larrry
Rancher
Joined: 23 Jul 2007
Posts: 5560
Location: The good ole USA
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