Another Good Month On The Jobs Front...unemployment Drops To 5.9%

[Oldstyle]

All that chart shows me is a recovery from a recession that is just grinding along...which is exactly what we've gotten from a President who's probably the most clueless Chief Executive when it comes to economics that we've ever had.

 

[Oldstyle]

What was he proposing right before he lost control of the House in 2010? Cap & Trade legislation that would have killed even more jobs!

Yes, YOUR guess, AND you Klowns said the same about the clean air, water, EPA, etc...

Since the EPA was something Nixon gave us that's about as stupid an argument as you've made yet!

 

[Dad2three]

Still higher than Obama's team predicted without a stimulus.

http://www.ampo.org/assets/library/184_obama.pdf

They never predicted that. You're an idiot.

Sure they did, it's right there in the chart. Are you saying the Obama Administration never made the claim I presented?

No, they PREDICTED IT with MANY disclaimers BEFORE the extent of Dubya's great recession was known. ARRA was passed in Feb 2009. The estimates were done end of Dec 2008 and beginning of 2009. The US economy contracted 9%_+ the last quarter, no one saw that coming!

The claim that Obama promised the stimulus would keep the unemployment rate below 8 percent has been a favorite talking point among Republicans....

PolitiFact has examined the statement repeatedly, each time rating it Mostly False.


But contrary to Cantor’s claim, the Romer-Bernstein report did not make promises about the unemployment rate. It made qualified projections.

Page 2 of the report states, "It should be understood that all of the estimates presented in this memo are subject to significant margins of error. There is the obvious uncertainty that comes from modeling a hypothetical package rather than the final legislation passed by the Congress. But, there is the more fundamental uncertainty that comes with any estimate of the effects of a program.

"Our estimates of economic relationships and rules of thumb are derived from historical experience and so will not apply exactly in any given episode. Furthermore, the uncertainty is surely higher than normal now because the current recession is unusual both in its fundamental causes and its severity."


Cantor says Obama promised the stimulus would keep unemployment under 8 percent PolitiFact Virginia

 

[asterism]

Still higher than Obama's team predicted without a stimulus.

http://www.ampo.org/assets/library/184_obama.pdf

You mean before the depth of the hole Dubya built was figured out? True

"It was worse than we thought" is a stupid argument. That's why it was stupid for anyone to predict prosperity under Obama. It was very clear the depth of the hole and it was very clear that neither of the people running were going to be able to get us out quickly. That's why I think that less is more in government intervention.

The crash would not have happened if the bailouts had not been telegraphed. Both parties share the blame for that.

 

[Dad2three]

What was he proposing right before he lost control of the House in 2010? Cap & Trade legislation that would have killed even more jobs!

Yes, YOUR guess, AND you Klowns said the same about the clean air, water, EPA, etc...

Since the EPA was something Nixon gave us that's about as stupid an argument as you've made yet!

Weird how the GOP fought it right?

Nixon created the EPA by executive order in 1970 as a sop to the anti-Vietanm war left — not because he thought an EPA was needed.

Nixon reassigned to the EPA the ongoing environmental protection activities of other federal agencies.

So Nixon’s move was little more than a cynical bureaucratic reshuffling done to facilitate his Vietnam policies — not some proud legacy of the Republican party.

Myth Nixon created the EPA to help the environment JunkScience.com

 

[Oldstyle]

Still higher than Obama's team predicted without a stimulus.

http://www.ampo.org/assets/library/184_obama.pdf

They never predicted that. You're an idiot.

Sure they did, it's right there in the chart. Are you saying the Obama Administration never made the claim I presented?

No, they PREDICTED IT with MANY disclaimers BEFORE the extent of Dubya's great recession was known. ARRA was passed in Feb 2009. The estimates were done end of Dec 2008 and beginning of 2009. The US economy contracted 9%_+ the last quarter, no one saw that coming!

The claim that Obama promised the stimulus would keep the unemployment rate below 8 percent has been a favorite talking point among Republicans....

PolitiFact has examined the statement repeatedly, each time rating it Mostly False.


But contrary to Cantor’s claim, the Romer-Bernstein report did not make promises about the unemployment rate. It made qualified projections.

Page 2 of the report states, "It should be understood that all of the estimates presented in this memo are subject to significant margins of error. There is the obvious uncertainty that comes from modeling a hypothetical package rather than the final legislation passed by the Congress. But, there is the more fundamental uncertainty that comes with any estimate of the effects of a program.

"Our estimates of economic relationships and rules of thumb are derived from historical experience and so will not apply exactly in any given episode. Furthermore, the uncertainty is surely higher than normal now because the current recession is unusual both in its fundamental causes and its severity."


Cantor says Obama promised the stimulus would keep unemployment under 8 percent PolitiFact Virginia

Obama's people made projections that were SO far off that it's laughable! It would be like you taking your car into the shop and the manager telling you that your problem was going to cost around $500 give or take and then hitting you with a bill for $1,000 and telling you that he didn't give you a promise of $500 but only an estimate of that.

 

[Dad2three]

Still higher than Obama's team predicted without a stimulus.

http://www.ampo.org/assets/library/184_obama.pdf

You mean before the depth of the hole Dubya built was figured out? True

"It was worse than we thought" is a stupid argument. That's why it was stupid for anyone to predict prosperity under Obama. It was very clear the depth of the hole and it was very clear that neither of the people running were going to be able to get us out quickly. That's why I think that less is more in government intervention.

The crash would not have happened if the bailouts had not been telegraphed.

lol, SERIOUSLY? Do you NOT remember the fall of 2008, and the WORLD WIDE CRASH that the Banksters created with their shadow banking that Dubya cheered on?

Private Banksters CREATED a world wide credit bubble, they looked at short term profits ahead of their own firms best inters ts, grow a brain!

The parts of the economy that went belly up, were those NOT regulated, or where regulations existed, but were mainly ignored by Dubya's EXECUTIVE BRANCH OVERSIGHT!!!


FACTS on Dubya s great recession US Message Board - Political Discussion Forum


The biggest culprits in the housing fiasco came from the private sector, and more specifically from a mortgage industry that was out of control. These included lenders who originated home loans, investment bankers who packaged them into securities, rating agencies that misjudged these securities, and global investors who bought them without much, if any, study.

In other words, America’s mortgage securitization machine was fundamentally broken. It created millions of mortgage loans that, even under reasonable economic assumptions, stood little chance of being repaid — and were not.




Also to blame, of course, were regulators, who gave the private mortgage market little, if any, oversight. The market’s watchdogs were lulled to sleep by a misplaced view that self-interested private financial institutions would regulate themselves.

McCains 2008 economic adviser By Mark Zandi


Fannie and Freddie don t deserve blame for bubble - The Washington Post

 

[Oldstyle]

What was he proposing right before he lost control of the House in 2010? Cap & Trade legislation that would have killed even more jobs!

Yes, YOUR guess, AND you Klowns said the same about the clean air, water, EPA, etc...

Since the EPA was something Nixon gave us that's about as stupid an argument as you've made yet!

Weird how the GOP fought it right?

Nixon created the EPA by executive order in 1970 as a sop to the anti-Vietanm war left — not because he thought an EPA was needed.

Nixon reassigned to the EPA the ongoing environmental protection activities of other federal agencies.

So Nixon’s move was little more than a cynical bureaucratic reshuffling done to facilitate his Vietnam policies — not some proud legacy of the Republican party.

Myth Nixon created the EPA to help the environment JunkScience.com

Where do you get this nonsense? Nixon couldn't have cared LESS about the anti-Vietnam war left! You get more and more idiotic with each post in this string!

 

[Oldstyle]

Back to big print again, Dad? You're really flailing in this string...aren't you!

 

[Dad2three]

Still higher than Obama's team predicted without a stimulus.

http://www.ampo.org/assets/library/184_obama.pdf

They never predicted that. You're an idiot.

Sure they did, it's right there in the chart. Are you saying the Obama Administration never made the claim I presented?

No, they PREDICTED IT with MANY disclaimers BEFORE the extent of Dubya's great recession was known. ARRA was passed in Feb 2009. The estimates were done end of Dec 2008 and beginning of 2009. The US economy contracted 9%_+ the last quarter, no one saw that coming!

The claim that Obama promised the stimulus would keep the unemployment rate below 8 percent has been a favorite talking point among Republicans....

PolitiFact has examined the statement repeatedly, each time rating it Mostly False.


But contrary to Cantor’s claim, the Romer-Bernstein report did not make promises about the unemployment rate. It made qualified projections.

Page 2 of the report states, "It should be understood that all of the estimates presented in this memo are subject to significant margins of error. There is the obvious uncertainty that comes from modeling a hypothetical package rather than the final legislation passed by the Congress. But, there is the more fundamental uncertainty that comes with any estimate of the effects of a program.

"Our estimates of economic relationships and rules of thumb are derived from historical experience and so will not apply exactly in any given episode. Furthermore, the uncertainty is surely higher than normal now because the current recession is unusual both in its fundamental causes and its severity."


Cantor says Obama promised the stimulus would keep unemployment under 8 percent PolitiFact Virginia

Obama's people made projections that were SO far off that it's laughable! It would be like you taking your car into the shop and the manager telling you that your problem was going to cost around $500 give or take and then hitting you with a bill for $1,000 and telling you that he didn't give you a promise of $500 but only an estimate of that.

2 UNFUNDED wars on false premises, 2 UNFUNDED tax cuts, UNFUNDED Medicare expansion, Dubya's home ownership society.

AGAINST OBAMA'S STIMULUS THAT OVER 90%+ OF THE ECONOMISTS SURVEYED, SAID HELP KEPT US OUT OF A DOUBLE DIP AND POSSIBLY ANOTHER GOP DEPRESSION? GROW UP. i'M DONE WITH YOU BUBBA

 

[Oldstyle]

Before you ride off into the sunset, Sparky...did you want to tell me about Barack Obama's plans to create jobs and stimulate the economy? I could use the laugh...

 

[Oldstyle]

Heck, I'd even be impressed if you knew who Barry's economic advisers are these days...care to take a stab at that?

 

[Dad2three]

I'm still waiting to hear from you what Barack Obama's plan is to create jobs and stimulate the economy, Dad! Surely he must have one? Trot that bad boy out and let's talk about it...

So Gov't has plans to create jobs? Weird, I thought 'job creators' did that. OVER 10+ MILLION PRIVATE SECTOR JOBS SINCE JOB KILLER OBAMACARES PASSED IN FEB 2010. WE NEED ANOTHER JOB KILLER LIKE THAT

I know, Heritage Foundation said Dubya's tax cuts would pay off the debt by 2010, and Dubya's team felt like we could go to war for peanuts, and you want to talk about the guy who brought us back from Dubya/GOP's great recession, AS the GOP fought ANYTHING that might help US? Fuck you!

 

[Oldstyle]

I think we both know you'll be doing the Google thing for that info...lol

 

[Dad2three]

Before you ride off into the sunset, Sparky...did you want to tell me about Barack Obama's plans to create jobs and stimulate the economy? I could use the laugh...

So Gov't creates jobs now huh? lol. FUKKING WINGNUTTERS ARE CRAZY and STUPID

 

[Oldstyle]

You don't have the faintest idea what Barry's plans are to create jobs...do you? You're just going to keep on repeating your ten million figure and hoping I stop asking you...

Too funny

 

[Oldstyle]

You don't know what Barry's plans are to create jobs or even who his economic advisers are...yet you're convinced that the GOP is somehow "blocking" these unknown plans?

 

[Dad2three]

Still higher than Obama's team predicted without a stimulus.

http://www.ampo.org/assets/library/184_obama.pdf

You mean before the depth of the hole Dubya built was figured out? True

"It was worse than we thought" is a stupid argument. That's why it was stupid for anyone to predict prosperity under Obama. It was very clear the depth of the hole and it was very clear that neither of the people running were going to be able to get us out quickly. That's why I think that less is more in government intervention.

The crash would not have happened if the bailouts had not been telegraphed. Both parties share the blame for that.

Shadow banking, overtook the traditional banking sector 2004-2007, they were going bust IF the Gov't didn't step up

The shadow banking system is a term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks. Former Federal Reserve Chair Ben Bernanke provided a definition in April 2012: "Shadow banking, as usually defined, comprises a diverse set of institutions and markets that, collectively, carry out traditional banking functions--but do so outside, or in ways only loosely linked to, the traditional system of regulated depository institutions. Examples of important components of the shadow banking system include securitization vehicles, asset-backed commercial paper (ABCP) conduits, money market mutual funds, markets for repurchase agreements (repos), investment banks, and mortgage companies." Shadow banking has grown in importance to rival traditional depository banking and was a primary factor in the subprime mortgage crisis of 2007-2008 and global recession that followed.


Shadow banking system - Wikipedia the free encyclopedia



Lehman's demise also made it the largest victim, of the U.S. subprime mortgage-induced financial crisis that swept through global financial markets in 2008. Lehman's collapse was a seminal event that greatly intensified the 2008 crisis and contributed to the erosion of close to $10 trillion in market capitalization from global equity markets in October 2008, the biggest monthly decline on record at the time.

Case Study The Collapse of Lehman Brothers

Bankruptcy of Lehman Brothers

Bankruptcy of Lehman Brothers - Wikipedia the free encyclopedia

 

[Oldstyle]

Government policy can help create jobs or do the opposite. When Barry proposed Cap & Trade for instance...THAT policy proposal would be a jobs killer.

 

[asterism]

The labor participation rate peaked under President Clinton.

So all you RWnuts obsessing on the labor participation rate have to concede that the best president in that regard would be to elect another Bill Clinton.

Clinton had a Republican Congress and an unprecedented boom in the dotcom bubble that went south shortly after he left office. Unlike Obama, Clinton paid attention to the Congress and negotiated and compromised.

Sure, must have been why GOPers shut doiwn the Gov't, TWICE and impeached Clinton

The economy was good, IN SPITE of GOP nonsense, AFTER Clinton's/Dems first surplus the GOP passed a $700+ billion tax cut Clinton had to veto to get 3 more, then Dubya came in and had 6 years of GOP Congress to fuck EVERYTHING up!

I don't think the current Republicans have the solution, but have you noticed the correlation of an increase in Republican representative political power under a Democratic President and an improving economy? Think about it.

Republicans took the House of Representatives in 1994 and then the dot-com boom fueled a huge growth spurt. Republicans took the House of Representatives in 2010 and the Great Recession bottomed out. Republican Presidents don't seem to have much of a sustaining force in growth and Republican Presidents with Republican Majorities in the House are just dangerous (boom and bust). But pure Democratic control doesn't work either (unless you think Obamacare has been great for the economy, in which case you are delusional). What do you think?

The hard part is figuring out the party from the person. Was Obama a good President? I don't think so. He was adequate. Was Bush a good President? I thought he was slightly better than adequate 5 years into his term and then things went sour. I think he got a lot of his job right but got a lot of it wrong.

We don't know how things are going to go on Obama's way out after a major party shift but I'm sure the partisans of the left are going to blame it on the November elections, just as the partisans on the right blame the November 2006 elections.

We saw what happened when the Republicans controlled the Presidency, House and Senate. We also saw what happened when the Democrats controlled those three. Neither were good.