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Fruits of conservative government

fff

Well-known member
"Employers cut jobs for 6th straight month; more cuts ahead

The economy is likely to keep stumbling at least through the rest of the year, analysts agreed Thursday, after a disappointing government report showed that payroll jobs fell by 62,000 in June, the sixth straight month of job losses.

More job losses are coming through the remainder of the year. The economy has lost just over 400,000 jobs since the start of the year and will lose another 400,000 by year's end," said Mark Zandi, chief economist for forecaster Moody's Economy.com. "Behind this pessimism are the broad-based job declines across most industries and regions of the country."

The Labor Department said Thursday that the unemployment rate held steady at 5.5 percent in June despite the 62,000 lost payroll jobs. Still, that confirmed that May's unusual half-point jump in the jobless rate wasn't an aberration as first thought.

"We had thought that the rate had temporarily overshot in May based on problems seasonally adjusting the summer inflow of students into the work force," Nigel Gault, the chief U.S. economist for forecaster Global Insight in Lexington, Mass., said in a research note to investors. "But the unemployment rate for young workers was little changed this month, suggesting that they are simply facing a much weaker labor market than in previous years."

The manufacturing, construction, financial and retail sectors led the job losers, while government and health care continued to add jobs. This is a continuing pattern and a chief reason that forecasters see more job losses ahead.

"Job losses are occurring in over half the nation's states, with large declines in big states such as California, Florida, Michigan and Ohio," Zandi said. "There is nothing in today's jobs report that suggests the job market will stabilize anytime soon."

Although June's employment losses were slightly worse than expected, they were below the number associated with economic recessions.

"Obviously, we're disappointed. We don't like to see jobs lost," Commerce Secretary Carlos Gutierrez told McClatchy. "It is important, however, to put it in perspective. During the mild recession of 2001, we were losing 180,000 (jobs) per month. No one is insinuating that there is positive news here, (but) it's important to keep it in perspective."

Gutierrez expects a rebound later this year.

"The consensus out there continues to be as we head into the back half (of 2008), the back half will be less difficult than the first half," he said, adding that government rebate checks are helping to boost consumption. "The whole idea with the stimulus package is to buy some time, to serve as a bridge."

Wall Street shrugged off the bad news. In a trading day shortened by the Fourth of July holiday, the Dow Jones Industrial Average closed up 73.03 points to 11,288.54. The S&P 500 finished up 1.38 to 1262.90 and the Nasdaq dipped 6.08 points to 2245.38.

Investors also were surprisingly unmoved by Thursday's announcement of a quarter-point interest rate hike by the European Central Bank, the first such hike in a year. The central bank raised Europe's benchmark lending rate to 4.25 percent in a bid to quash consumer inflation, which has reached 4 percent there. The European euro immediately gained ground on the U.S. dollar, a trend that tends to push up global oil prices.

That's bad news for American motorists. Global investors are pouring money into contracts for future deliveries of oil as a hedge against the weakening dollar.

The European move adds pressure on the Federal Reserve to raise short-term lending rates when its policymaking group next meets Aug. 5.

U.S. consumer inflation is running at a year-over-year pace of 4.2 percent through May, driven up by rising energy and food prices. The Fed's benchmark lending rate is at a low 2 percent. In normal times, rising inflation triggers preventive hikes in interest rates.

However, there's nothing normal about today's U.S. economy. The housing market is in its worst slump in modern times, the banking sector is enduring a credit crisis that's dried up all but the safest lending and even General Motors appears on the verge of bankruptcy. An interest-rate hike now could tip the sluggish economy into recession.

"The Fed remains in a very difficult spot. Inflation is continuing to climb, but the outlook for future growth is darkening at the same time," Gault wrote. "We believe that the economy is too fragile for a rate hike before 2009."

Fed Chairman Ben Bernanke has indicated that he thinks the economic slowdown will keep inflation in check — if energy prices eventually fall.

Bernanke got some good news from Thursday's job numbers: Hourly wages remained stable. While that's not great news for consumers facing higher food and gasoline costs, it means there's no sign yet of a surge in wages chasing prices, which would trigger an upward inflationary spiral.

Presidential candidates Barack Obama and John McCain seized on Thursday's numbers to tout their economic platforms.

"To get our economy back on track, we must enact a jobs-first economic plan that supports job creation, provide immediate tax relief for families, enact a plan to help those facing foreclosure, lower health-care costs, invest in innovation, move toward strategic energy independence and open more foreign markets to our goods," McCain said in a statement.

Obama pinned the job losses on what he labels a Bush-McCain downturn.

"Our economy has now shed 438,000 jobs over the past six months, while workers' wages fail to keep pace with the skyrocketing cost of gas, groceries and health care," he said in a statement. "The American people are paying the price for the failed economic policies of the past eight years, and we can't afford four more years of more of the same."

http://www.mcclatchydc.com/257/story/43066.html
 

aplusmnt

Well-known member
Guess it all depends on what parts you highlight doesn't it?

You skim right over

The Labor Department said Thursday that the unemployment rate held steady at 5.5 percent in June despite the 62,000 lost payroll jobs

During the mild recession of 2001, we were losing 180,000 (jobs) per month. No one is insinuating that there is positive news here, (but) it's important to keep it in perspective."

Although June's employment losses were slightly worse than expected, they were below the number associated with economic recessions



Lets see we average losing 66,000 jobs per month over the last 6 months and Bush is worthless.

But Bush inherits a recession from Clinton that was losing almost 3 times as many with 180,000 jobs per month and you praise Clinton for all he did for the economy
:shock:


And you got to love this, check out the replies listed by both McCain and Obama. You will notice McCain is looking towards solutions and all Obama can do is blame Bush :roll: Nothing changes for Liberals, no solutions just babble!

McCain's quote

"To get our economy back on track, we must enact a jobs-first economic plan that supports job creation, provide immediate tax relief for families, enact a plan to help those facing foreclosure, lower health-care costs, invest in innovation, move toward strategic energy independence and open more foreign markets to our goods," McCain said in a statement.


Obama quote

"Our economy has now shed 438,000 jobs over the past six months, while workers' wages fail to keep pace with the skyrocketing cost of gas, groceries and health care," he said in a statement. "The American people are paying the price for the failed economic policies of the past eight years, and we can't afford four more years of more of the same."
 

hopalong

Well-known member
And this was skipped over as well

Although June's employment losses were slightly worse than expected, they were below the number associated with economic recessions.


Gutierrez expects a rebound later this year.

The consensus out there continues to be as we head into the back half (of 2008), the back half will be less difficult than the first half," he said, adding that government rebate checks are helping to boost consumption. "The whole idea with the stimulus package is to buy some time, to serve as a bridge."

Fed Chairman Ben Bernanke has indicated that he thinks the economic slowdown will keep inflation in check — if energy prices eventually fall.

Bernanke got some good news from Thursday's job numbers: Hourly wages remained stable


You are right a+ all depends on what you highlight!!!
 

loomixguy

Well-known member
and say anything positive about conservatism and GP, the Whiner, and the rest of the usual gang of idiots show up, too! :lol: :lol: :lol: 8)
 
A

Anonymous

Guest
Goodpasture said:
Start talking about the Fruits of the conservative government and A+ and Hopealong et al show up...............


GP- you sailed right over the top of them.... :wink: :lol:
Probably the reason Obama is leading so much with the higher educated folks of the nation and the areas of the country that have better educated... :wink: :lol: :p
 

aplusmnt

Well-known member
Oldtimer said:
Goodpasture said:
Start talking about the Fruits of the conservative government and A+ and Hopealong et al show up...............


GP- you sailed right over the top of them.... :wink: :lol:
Probably the reason Obama is leading so much with the higher educated folks of the nation and the areas of the country that have better educated... :wink: :lol: :p

If the Educated are voting for Obama, I am sure McCain will appreciate your vote :wink:
 

fff

Well-known member
aplusmnt said:
Oldtimer said:
Goodpasture said:
Start talking about the Fruits of the conservative government and A+ and Hopealong et al show up...............


GP- you sailed right over the top of them.... :wink: :lol:
Probably the reason Obama is leading so much with the higher educated folks of the nation and the areas of the country that have better educated... :wink: :lol: :p

If the Educated are voting for Obama, I am sure McCain will appreciate your vote :wink:

Personal attacks. Love them. They show you don't have a fact to offer, so change the subject or insult someone. Good going, OT.
 

fff

Well-known member
aplusmnt said:
Guess it all depends on what parts you highlight doesn't it?

You skim right over

The Labor Department said Thursday that the unemployment rate held steady at 5.5 percent in June despite the 62,000 lost payroll jobs

During the mild recession of 2001, we were losing 180,000 (jobs) per month. No one is insinuating that there is positive news here, (but) it's important to keep it in perspective."

Although June's employment losses were slightly worse than expected, they were below the number associated with economic recessions



Lets see we average losing 66,000 jobs per month over the last 6 months and Bush is worthless.

But Bush inherits a recession from Clinton that was losing almost 3 times as many with 180,000 jobs per month and you praise Clinton for all he did for the economy
:shock:


And you got to love this, check out the replies listed by both McCain and Obama. You will notice McCain is looking towards solutions and all Obama can do is blame Bush :roll: Nothing changes for Liberals, no solutions just babble!

McCain's quote

"To get our economy back on track, we must enact a jobs-first economic plan that supports job creation, provide immediate tax relief for families, enact a plan to help those facing foreclosure, lower health-care costs, invest in innovation, move toward strategic energy independence and open more foreign markets to our goods," McCain said in a statement.


Obama quote

"Our economy has now shed 438,000 jobs over the past six months, while workers' wages fail to keep pace with the skyrocketing cost of gas, groceries and health care," he said in a statement. "The American people are paying the price for the failed economic policies of the past eight years, and we can't afford four more years of more of the same."

I didn't skim over anything. I posted the article AND a link. Unlike many on this board who post opinions and mysterious emails, I try to deal in facts and reality. The fact and the reality is that Bush and his conservative Republican government have been a disaster for this country.
 

hopalong

Well-known member
fff said:
aplusmnt said:
Guess it all depends on what parts you highlight doesn't it?

You skim right over

The Labor Department said Thursday that the unemployment rate held steady at 5.5 percent in June despite the 62,000 lost payroll jobs

During the mild recession of 2001, we were losing 180,000 (jobs) per month. No one is insinuating that there is positive news here, (but) it's important to keep it in perspective."

Although June's employment losses were slightly worse than expected, they were below the number associated with economic recessions



Lets see we average losing 66,000 jobs per month over the last 6 months and Bush is worthless.

But Bush inherits a recession from Clinton that was losing almost 3 times as many with 180,000 jobs per month and you praise Clinton for all he did for the economy
:shock:


And you got to love this, check out the replies listed by both McCain and Obama. You will notice McCain is looking towards solutions and all Obama can do is blame Bush :roll: Nothing changes for Liberals, no solutions just babble!

McCain's quote

"To get our economy back on track, we must enact a jobs-first economic plan that supports job creation, provide immediate tax relief for families, enact a plan to help those facing foreclosure, lower health-care costs, invest in innovation, move toward strategic energy independence and open more foreign markets to our goods," McCain said in a statement.


Obama quote

"Our economy has now shed 438,000 jobs over the past six months, while workers' wages fail to keep pace with the skyrocketing cost of gas, groceries and health care," he said in a statement. "The American people are paying the price for the failed economic policies of the past eight years, and we can't afford four more years of more of the same."

I didn't skim over anything. I posted the entire article (sometimes a link). I don't cherry pick data or information. Unlike some on this board, I deal with reality.



That is the biggest joke I have heard in a long time, you have to be kidding!!!!!!! :roll: :roll: :roll: :roll:
 

Texan

Well-known member
fff said:
The fact and the reality is that Bush and his conservative Republican government have been a disaster for this country.
The fact and the reality is that Bush is NOT a conservative. Conservatives know that - why is it so hard for YOU to understand?
 

aplusmnt

Well-known member
Texan said:
fff said:
The fact and the reality is that Bush and his conservative Republican government have been a disaster for this country.
The fact and the reality is that Bush is NOT a conservative. Conservatives know that - why is it so hard for YOU to understand?

fff does not get facts, you can show them to her all day long and she will go right back to believing what she is told to believe.

fff is such a far left loony, to her Bush and McCain are strong conservatives! :roll:
 

MoGal

Well-known member
Bush isn't conservative about anything in the US, he has gladly given away our rights and the economy of this country as well as sovereignty and now even Russia is starting a sovereign wealth fund...... he's headed this country towards his fathers goal of a global government.

Bush isn't even a Christian, no fruit. He's already said he intends to become a Catholic as soon as his stint of president is over and promote globalization all over the world (just like his buddy Blair).
 

fff

Well-known member
You guys can scream all day that Bush isn't a Conservative. But he was elected as one, by conservatives. He ran back to DC to sign the bill "saving" Terri Schiavo's life. He's banned certain abortion procedures, he lowered taxes. He has pandered to big business, refused to fill hundreds of oversight jobs in the government, just like Conservatives wanted. "A government so small it could be drowned in the bathtub" I think is the ultimate goal of Conservative gurus. Well, we've seen what that led to: children died because of lead paint on toys from China. Miners died because of fewer and more sympathetic mine inspectors. Homeowners are facing foreclosure because their appraisers and lenders misrepresented the value of their homes. Oil prices are sky high because of speculators. He refused to hire more border patrol agents for years. Don't try and tell me he's not a Conservative.
 

aplusmnt

Well-known member
fff said:
You guys can scream all day that Bush isn't a Conservative. But he was elected as one, by conservatives. He ran back to DC to sign the bill "saving" Terri Schiavo's life. He's banned certain abortion procedures, he lowered taxes. He has pandered to big business, refused to fill hundreds of oversight jobs in the government, just like Conservatives wanted. "A government so small it could be drowned in the bathtub" I think is the ultimate goal of Conservative gurus. Well, we've seen what that led to: children died because of lead paint on toys from China. Miners died because of fewer and more sympathetic mine inspectors. Homeowners are facing foreclosure because their appraisers and lenders misrepresented the value of their homes. Oil prices are sky high because of speculators. He refused to hire more border patrol agents for years. Don't try and tell me he's not a Conservative.

Do you have any idea what you are talking about? You think government has gotten smaller under Bush?

You have no idea of what a Conservative is, Reagan was a Conservative, Bush never has been one and McCain isn't either.

You seriously are very remedial in your understanding of just what the President does and what he can control.

You just bounce around sipping up whatever kool aid you are served. You use to rant about how it was the oil companies fault for high gas prices and now that the Kool aid servers tell you it is all the speculators now you regurgitate it. You truly can not think or reason for yourself.

And at first sign that maybe some of these problems go back farther than Bush to the Clinton era you stick your fingers in your ears and chant, nanananananananana

You really need to do a little more studying of the complexity of the political and economic system to understand just how things work.

And I have a question for you, since you say Conservatives pander to Big Business. Who is it that Liberals Pander to? You going to tell me that Democrat politicians walk the straight and narrow line and pander to no one?

At least Big business hires large amounts of employees and pays large amounts of taxes. Please tell me who exactly the Democrats pander to and what does the average American get in return? Do they get millions of jobs in return to their pandering or just a bunch of dead babies flushed down the toilet?
 
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