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The Great Obama Depression

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1The Great Obama Depression Empty The Great Obama Depression 8/5/2013, 8:50 am

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WASHINGTON, August 3, 2013 — A White House spokesman called July’s 7.4 percent unemployment rate proof that “the U.S. economy is continuing to recover from the worst downturn since the Great Depression.” He said it with a straight face. The data tell another story: America remains mired in the Great Obama Depression.

The unemployment rate that the administration trumpets is a liar’s number. The formula for the unemployment figure that is released every month is rigged to look favorable to the administration in power.
This is nothing new. President Bill Clinton had the formula reworked in his first term so he could point to declining unemployment when he ran for reelection.
The true numbers from the Bureau of Labor Statistics show a far different picture. They show an America that is in economic collapse. The unemployment rate did not drop because there were more jobs in July. It fell because there were fewer people looking for jobs. The civilian labor force fell by approximately 37,000 workers. The people who are not in the labor force has climbed to 89,957,000; almost ninety million American adults are not in the workforce.

The workforce participation rate — the percentage of adults who are participating in the work force — dropped again in July. It is now 63.4 percent, down from 63.5 percent; over one third of American adults are not in the labor force.
Even worse, the number of discouraged workers rose to almost one million. “Discouraged worker” is the term for people who want to be in the workforce but have given up on looking for jobs because they believe no jobs are available.
Those numbers and statistics typically trigger a response in most people called MEGO: My eyes glaze over. Numbers like that put most people to sleep. The government counts on it. Rush Limbaugh uses the term, “low information voter.” A lot of people are low information voters. Far too many people rely in the drive by media for their news, and with the liberal bias of the news, all they hear is, “unemployment is down.”
The story they never hear but need to, is that the books are cooked.

There is one other devastating figure that most people are not talking about. In June, the Bureau of Labor Statistics reported that only 47 percent of American adults had full-time jobs. Fewer than half of Americans are working full time!
That should be a headline. Instead it is ignored. It is an indictment of the failure of Obamanomics and the economic policies of the current administration.
The one area of the economy that is growing is in temporary employment: 2.7 million Americans are working in temp jobs.
Beneath the numbers that make up the headlines is the horrifying truth of the Great Obama Depression: Prosperity is rapidly fleeing America. As Obamacare punishes companies for having fulltime employees, it encourages only part time employment. Part-time employment makes the American dream an impossibility.
Remembering where we were less than ten years ago: Unemployment was below 5 percent. Economists generally regard 5 percent as full employment. Jobs were chasing people. Today people are chasing jobs, and often not finding them.
America is rapidly dividing into two parts. One part is those fortunate enough to have a job, and the other is those who are looking for work, looking for welfare, or simply praying they survive.
A prosperous society cannot survive this.
This is the indictment of Obamanomics and it is the cold, hard truth about the Great Obama Depression.


Read more: http://communities.washingtontimes.com/neighborhood/judson-phillips-cold-hard-truth/2013/aug/3/great-obama-depression/#ixzz2b6HoWtOa

2The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 9:54 am

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nochain wrote:WASHINGTON, August 3, 2013 — A White House spokesman called July’s 7.4 percent unemployment rate proof that “the U.S. economy is continuing to recover from the worst downturn since the Great Depression.” He said it with a straight face.  The data tell another story: America remains mired in the Great Obama Depression.

The unemployment rate that the administration trumpets is a liar’s number. The formula for the unemployment figure that is released every month is rigged to look favorable to the administration in power.
This is nothing new. President Bill Clinton had the formula reworked in his first term so he could point to declining unemployment when he ran for reelection.
The true numbers from the Bureau of Labor Statistics show a far different picture. They show an America that is in economic collapse. The unemployment rate did not drop because there were more jobs in July. It fell because there were fewer people looking for jobs. The civilian labor force fell by approximately 37,000 workers. The people who are not in the labor force has climbed to 89,957,000; almost ninety million American adults are not in the workforce.

The workforce participation rate — the percentage of adults who are participating in the work force — dropped again in July. It is now 63.4 percent, down from 63.5 percent; over one third of American adults are not in the labor force.
Even worse, the number of discouraged workers rose to almost one million. “Discouraged worker” is the term for people who want to be in the workforce but have given up on looking for jobs because they believe no jobs are available.
Those numbers and statistics typically trigger a response in most people called MEGO: My eyes glaze over. Numbers like that put most people to sleep. The government counts on it. Rush Limbaugh uses the term, “low information voter.” A lot of people are low information voters.  Far too many people rely in the drive by media for their news, and with the liberal bias of the news, all they hear is, “unemployment is down.”
The story they never hear but need to, is that the books are cooked.

There is one other devastating figure that most people are not talking about. In June, the Bureau of Labor Statistics reported that only 47 percent of American adults had full-time jobs. Fewer than half of Americans are working full time!
That should be a headline.  Instead it is ignored.  It is an indictment of the failure of Obamanomics and the economic policies of the current administration.
The one area of the economy that is growing is in temporary employment: 2.7 million Americans are working in temp jobs.
Beneath the numbers that make up the headlines is the horrifying truth of the Great Obama Depression: Prosperity is rapidly fleeing America. As Obamacare punishes companies for having fulltime employees, it encourages only part time employment. Part-time employment makes the American dream an impossibility.
Remembering where we were less than ten years ago: Unemployment was below 5 percent.  Economists generally regard 5 percent as full employment. Jobs were chasing people. Today people are chasing jobs, and often not finding them.
America is rapidly dividing into two parts. One part is those fortunate enough to have a job, and the other is those who are looking for work, looking for welfare, or simply praying they survive.
A prosperous society cannot survive this.
This is the indictment of Obamanomics and it is the cold, hard truth about the Great Obama Depression.


Read more: http://communities.washingtontimes.com/neighborhood/judson-phillips-cold-hard-truth/2013/aug/3/great-obama-depression/#ixzz2b6HoWtOa

     So there's a part-time/seasonal employment BOOM with no benefits?...Didn't the cowh just announce that they've created 6 million 'good' jobs?...Guess there's a differing opinion on the definition of 'good'?...Remember when Bush 43 was in office they touted the 'misery index'...wonder what that number is today?....

3The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 1:00 pm

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newswatcher wrote:
nochain wrote:

     So there's a part-time/seasonal employment BOOM with no benefits?...Didn't the cowh just announce that they've created 6 million 'good' jobs?...Guess there's a differing opinion on the definition of 'good'?...Remember when Bush 43 was in office they touted the 'misery index'...wonder what that number is today?....

The current Misery Index number is 9.35 (June 2013)

Also notice that the annual misery index for Oblamer is quite high - can't imagine why. I also notice that the usual Oblamer sheeple aren't on this thread tootling about how wonderful the employment picture is. Because they really know it's not and the facts shown above explain why. They can't handle facts when they are contrary to their pitiful agenda. Brain dead sheep that they are.....

2001 7.57 Bush, G.W.
2002 7.37
2003 8.26
2004 8.22
2005 8.48
2006 7.85
2007 7.47
2008 9.65

2009 8.94 Obama
2010 11.27
2011 12.11
2012 10.15

http://www.miseryindex.us/

4The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 1:27 pm

boards of FL

boards of FL

nochain wrote:The unemployment rate did not drop because there were more jobs in July. It fell because there were fewer people looking for jobs.

All credibility is lost with these two sentences.

In other news, Dallas didn't defeat Miami last night because they scored 24.  They defeated Miami because Miami scored 20.



Last edited by boards of FL on 8/5/2013, 2:24 pm; edited 1 time in total


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5The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 1:49 pm

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boards of FL wrote:
nochain wrote:The unemployment rate did not drop because there were more jobs in July. It fell because there were fewer people looking for jobs. The civilian labor force fell by approximately 37,000 workers.

All credibility is lost with these two sentences.

In other news, Dallas didn't defeat Miami last night because they scored 24.  They defeated Miami because Miami scored 20.

LOL. Thick as a brick. And not in a Jethro Tull way.....

6The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 1:50 pm

boards of FL

boards of FL

nochain wrote:LOL. Thick as a brick. And not in a Jethro Tull way.....

My comment was more intended for other readers of the forum. I knew full well you would not grasp it.


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7The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 3:45 pm

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The Great Obama Depression Obama-jobs-unemployment-political-cartoon1

8The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 4:22 pm

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Perhaps this article is simple enough for even BOF to understand:

JEFFREY BROWN: Unemployment is down, but job growth still leaves a lot to be desired. That's the upshot of July's jobs data from the Labor Department.
The NewsHour's economics correspondent, Paul Solman, has our story, part of his reporting on Making Sense of Financial News.
PAUL SOLMAN: Today's report suggested that the economic recovery may be slowing down. Employers added only 162,000 new jobs last month, 23,000 less than economic forecasters' consensus predication.
The new jobs total was the lowest since March. Moreover, the government revised job growth for May and June, down by 26,000. As for the new jobs, most were in lower-paying industries like retail, hotels, and restaurants. Even though inflation continues to rise, the average hourly wage actually dropped by two cents, the first decline in wages since last October and the most since late 2011.
Overall, the economy has created nearly 200,000 jobs a month since the start of the year. And while those aren't exactly terrible numbers, they certainly don't represent robust growth after a deep recession, especially if the working age population grows by 200,000 a month, as it did in July.
As Heidi Shierholz of the Economic Policy Institute points out, even at 200,000 a month, it will take much longer than many people realize to reduce unemployment decisively.
HEIDI SHIERHOLZ, Economic Policy Institute: If we continue with that pace of job growth going forward, we get a little less than 200,000 jobs a month, every single month, indefinitely, we won't fill the jobs gap for another five years.
PAUL SOLMAN: Today's announcement came on the heels of another lackluster report that showed the U.S. economy grew only slightly last quarter, gross domestic product up an indolent 1.7 percent.
Today's best news was that the unemployment rate slid to 7.4 percent from 7.6 percent, marking a four-and-a-half year low. That's partly due to workers finding new opportunities in an improving labor market. But some of that decline can be attributed to the shrinking size of the work force, as more baby boomers, 10,000 of them a day reaching the full Social Security age of 66, and, says Shierholz, there's another reason the unemployment rate has been dropping.
HEIDI SHIERHOLZ: The unemployment rate right now is vastly overstating the improvement in the labor market, in the recovery, because we have so many workers who have dropped out of the labor force, or never entered it because job opportunities are so weak.
PAUL SOLMAN: Job opportunities as especially weak in manufacturing, which showed no job growth in July. Factory jobs have remained at a standstill for a year now. And the numbers for both long-term unemployment and part-time workers looking for full-time jobs remained unchanged last month.
http://www.pbs.org/newshour/bb/business/july-dec13/jobs_08-02.html

9The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 5:19 pm

Floridatexan

Floridatexan

The Great Obama Depression Bush_pvtjobs70

10The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 5:25 pm

Floridatexan

Floridatexan

The Great Obama Depression Rasmusredo

11The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 5:54 pm

boards of FL

boards of FL

Dallas: 24
Miami: 20

A question for nochain: Why did Dallas defeat Miami?

A) Because they scored 24 points

B) Because Miami scored 20 points

C) Because they outscored Miami, 24-20


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12The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 8:46 pm

Markle

Markle

boards of FL wrote:
nochain wrote:The unemployment rate did not drop because there were more jobs in July. It fell because there were fewer people looking for jobs.

All credibility is lost with these two sentences.

[For Reference here is what your are referencing:
nochain wrote:The unemployment rate did not drop because there were more jobs in July. It fell because there were fewer people looking for jobs.]

In other news, Dallas didn't defeat Miami last night because they scored 24.  They defeated Miami because Miami scored 20.

Boards of Florida, your analogy is humorous but, as you well know, phony. Dallas and Miami did not start out with scores already on the board to add to or take away. Cute try though.

So PLEASE explain what is not accurate about the statement made by nochain. Or do you even have a clue?

13The Great Obama Depression Empty Re: The Great Obama Depression 8/5/2013, 8:56 pm

Markle

Markle

boards of FL wrote:Dallas: 24
Miami: 20

A question for nochain:  Why did Dallas defeat Miami?

A) Because they scored 24 points

B) Because Miami scored 20 points

C) Because they outscored Miami, 24-20

Once you latch onto what you thought was a grand idea you don't let go do you? Even if it is phony as a three dollar bill!

Labor Participation Rate. THIS rate is the percentage of workers actually working.

The Great Obama Depression LaborForceParticipationRate512013-1

http://data.bls.gov/timeseries/LNS11300000

14The Great Obama Depression Empty selective memory loss....... 8/6/2013, 6:02 am

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Floridatexan wrote:The Great Obama Depression Bush_pvtjobs70

Thanks. It seems that many of the contributors to this little forum have repressed the fact that the entire Great Recession was caused by President Oil and Vice-President War. They want to forget that the entire world economy was in shambles before the current administration ever took office.
Calling it the Great Obama Recession is inaccurate. If anything, it should be called the Great Bush/Cheney Recession. Thankfully, the majority of Americans do not suffer the same selective memory loss.

15The Great Obama Depression Empty Re: The Great Obama Depression 8/6/2013, 8:32 am

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Hmmm, I wonder who knows more about the REAL employment situation, the boneheads on here who think things are going great by ignoring factual indicators, or this person whose comments in the previously posted article supports my contention that things are not so wonderful:

Biography
Heidi Shierholz joined the Economic Policy Institute in 2007. Her areas of research include trends in employment, unemployment, and compensation, income and wealth inequality, the low-wage labor market, the minimum wage, and the gender wage gap. Shierholz is a frequent contributor to broadcast and radio news outlets, including: ABC, CBS, CNN and NPR, and is regularly quoted in print and online media outlets, including the New York Times, Washington Post and the Huffington Post. She has repeatedly been called to testify in Congress on labor market issues. She is also a member of the board of directors of the DC Employment Justice Center. She previously worked as an Assistant Professor of Economics at the University of Toronto.

Education
Ph.D., Economics, University of Michigan
M.A., Economics, University of Michigan
M.S., Statistics, Iowa State University
B.A., Mathematics, Grinnell College

Cue brain dead liberal agitators and another mindless sports analogy.

16The Great Obama Depression Empty Re: The Great Obama Depression 8/6/2013, 9:02 am

boards of FL

boards of FL

Markle wrote:Boards of Florida, your analogy is humorous but, as you well know, phony.  Dallas and Miami did not start out with scores already on the board to add to or take away.  Cute try though.

You're right. They didn't. And that's irrelevant. Analogies aren't your strong suit so I'll be direct. Does the act of people seeking and getting jobs affect the unemployment rate?


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17The Great Obama Depression Empty Re: The Great Obama Depression 8/6/2013, 9:04 am

boards of FL

boards of FL

Markle wrote:
boards of FL wrote:Dallas: 24
Miami: 20

A question for nochain:  Why did Dallas defeat Miami?

A) Because they scored 24 points

B) Because Miami scored 20 points

C) Because they outscored Miami, 24-20

Once you latch onto what you thought was a grand idea you don't let go do you?  Even if it is phony as a three dollar bill!

Labor Participation Rate.  THIS rate is the percentage of workers actually working.

The Great Obama Depression LaborForceParticipationRate512013-1

http://data.bls.gov/timeseries/LNS11300000

Yes. I know. You've posted this twice now and I've explained it to you twice; and each time you ran away.


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18The Great Obama Depression Empty Re: The Great Obama Depression 8/6/2013, 9:06 am

boards of FL

boards of FL

nochain wrote:Hmmm, I wonder who knows more about the REAL employment situation, the boneheads on here who think things are going great by ignoring factual indicators, or this person whose comments in the previously posted article supports my contention that things are not so wonderful:

Biography
Heidi Shierholz joined the Economic Policy Institute in 2007. Her areas of research include trends in employment, unemployment, and compensation, income and wealth inequality, the low-wage labor market, the minimum wage, and the gender wage gap. Shierholz is a frequent contributor to broadcast and radio news outlets, including: ABC, CBS, CNN and NPR, and is regularly quoted in print and online media outlets, including the New York Times, Washington Post and the Huffington Post.  She has repeatedly been called to testify in Congress on labor market issues.  She is also a member of the board of directors of the DC Employment Justice Center. She previously worked as an Assistant Professor of Economics at the University of Toronto.

Education
Ph.D., Economics, University of Michigan
M.A., Economics, University of Michigan
M.S., Statistics, Iowa State University
B.A., Mathematics, Grinnell College

Cue brain dead liberal agitators and another mindless sports analogy.


Nochain, with your fleeting knowledge of economics, what factors do you feel exhibit an influence on the unemployment rate?


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19The Great Obama Depression Empty Re: The Great Obama Depression 8/6/2013, 10:45 am

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boards of FL wrote:
nochain wrote:Hmmm, I wonder who knows more about the REAL employment situation, the boneheads on here who think things are going great by ignoring factual indicators, or this person whose comments in the previously posted article supports my contention that things are not so wonderful:

Biography
Heidi Shierholz joined the Economic Policy Institute in 2007. Her areas of research include trends in employment, unemployment, and compensation, income and wealth inequality, the low-wage labor market, the minimum wage, and the gender wage gap. Shierholz is a frequent contributor to broadcast and radio news outlets, including: ABC, CBS, CNN and NPR, and is regularly quoted in print and online media outlets, including the New York Times, Washington Post and the Huffington Post.  She has repeatedly been called to testify in Congress on labor market issues.  She is also a member of the board of directors of the DC Employment Justice Center. She previously worked as an Assistant Professor of Economics at the University of Toronto.

Education
Ph.D., Economics, University of Michigan
M.A., Economics, University of Michigan
M.S., Statistics, Iowa State University
B.A., Mathematics, Grinnell College

Cue brain dead liberal agitators and another mindless sports analogy.


Nochain, with your fleeting knowledge of economics, what factors do you feel exhibit an influence on the unemployment rate?

My so-called "fleeting knowledge" of economics is light years ahead of your obvious ignorance of the issue being mangled by you and your lackeys. Perhaps you can get one of your equally ignorant lackeys to take a stab at answering your silly question. Hope they answer - I could use a good laugh. This forum is drawing it's last breath.

20The Great Obama Depression Empty Re: The Great Obama Depression 8/6/2013, 11:06 am

boards of FL

boards of FL

nochain wrote:
boards of FL wrote:
nochain wrote:Hmmm, I wonder who knows more about the REAL employment situation, the boneheads on here who think things are going great by ignoring factual indicators, or this person whose comments in the previously posted article supports my contention that things are not so wonderful:

Biography
Heidi Shierholz joined the Economic Policy Institute in 2007. Her areas of research include trends in employment, unemployment, and compensation, income and wealth inequality, the low-wage labor market, the minimum wage, and the gender wage gap. Shierholz is a frequent contributor to broadcast and radio news outlets, including: ABC, CBS, CNN and NPR, and is regularly quoted in print and online media outlets, including the New York Times, Washington Post and the Huffington Post.  She has repeatedly been called to testify in Congress on labor market issues.  She is also a member of the board of directors of the DC Employment Justice Center. She previously worked as an Assistant Professor of Economics at the University of Toronto.

Education
Ph.D., Economics, University of Michigan
M.A., Economics, University of Michigan
M.S., Statistics, Iowa State University
B.A., Mathematics, Grinnell College

Cue brain dead liberal agitators and another mindless sports analogy.


Nochain, with your fleeting knowledge of economics, what factors do you feel exhibit an influence on the unemployment rate?

My so-called "fleeting knowledge" of economics is light years ahead of your obvious ignorance of the issue being mangled by you and your lackeys. Perhaps you can get one of your equally ignorant lackeys to take a stab at answering your silly question. Hope they answer - I could use a good laugh. This forum is drawing it's last breath.

So...you don't know of any economic variables that would exhibit influence on the unemployment rate? Hmm. Do you know how it is calculated?


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Markle

Markle

How important is an unemployment number when even "Boards of Florida" knows it is phony as a three dollar bill?  If it was a Republican President with 7.4% "unemployment" and 40% unemployment for young black workers, Progressives would be screaming for blood!

Progressives desperation is palpable.

How about PART TIME employment being substituted for FULL TIME workers?

Most 2013 job growth is in part-time work, survey suggests

"The unemployment rate is measured by the separate Household Survey, and it fell two-tenths of a percentage point to 7.4 percent, its lowest level since December 2008. That’s due in part to slow growth in the labor force. The jobless rate is based on a sample of self-reporting from ordinary people across the nation, and it’s the Labor Department measure that shows a very troubling trend in hiring."

“Over the last six months, of the net job creation, 97 percent of that is part-time work,” said Keith Hall, a senior researcher at George Mason University’s Mercatus Center. “That is really remarkable.”

"Hall is no ordinary academic. He ran the Bureau of Labor Statistics, the agency that puts out the monthly jobs report, from 2008 to 2012. Over the past six months, he said, the Household Survey shows 963,000 more people reporting that they were employed, and 936,000 of them reported they’re in part-time jobs."

“That is a really high number for a six-month period,” Hall said. “I’m not sure that has ever happened over six months before.”

Read more here: http://www.mcclatchydc.com/2013/08/02/198432/most-2013-job-growth-is-in-part.html#.Uf-UcGRAS7g#storylink=cpy

22The Great Obama Depression Empty Re: The Great Obama Depression 8/7/2013, 9:33 am

Floridatexan

Floridatexan

http://www.businessinsider.com/what-wall-street-protesters-are-so-angry-about-2011-10?op=1

This article is from 2011, after the near implosion of the economy and the bailout of the banks in the final months of the George W. Bush administration (Sept/Oct 2008).

The Great Obama Depression Thats-about-60-of-the-net-worth-of-the-country-held-by-the-top-5-left-chart

Just an example of the charts/graphs available at this site. There is no way in hell you can blame Obama, and the GOP has opposed or filibustered every attempt to restore any kind of balance between the real economy and the financial sector. The banks aren't lending; they're buying T-bills for nothing and making money off them, enriching themselves at the expense of people who have lost their homes, their possessions, their jobs, their loved ones in wars of aggression, and their sanity.  

And FYI, Boards is an economist.



Last edited by Floridatexan on 8/7/2013, 9:40 am; edited 1 time in total

23The Great Obama Depression Empty Re: The Great Obama Depression 8/7/2013, 9:40 am

PBulldog2

PBulldog2

Floridatexan wrote:The Great Obama Depression Rasmusredo

Good one, Tex! Laughing 

24The Great Obama Depression Empty Re: The Great Obama Depression 8/7/2013, 10:26 am

boards of FL

boards of FL

Markle wrote:How important is an unemployment number when even "Boards of Florida" knows it is phony as a three dollar bill?

The unemployment is what it is.  If one understands how it is calculated and what factors influence it, there is nothing phony about it.  That you struggle with this is not my problem. If you're just now discovering that a falling unemployment rate doesn't exclusively mean an improving labor market and vice versa, well, welcome to common sense land.



Last edited by boards of FL on 8/7/2013, 10:27 am; edited 1 time in total


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25The Great Obama Depression Empty Re: The Great Obama Depression 8/7/2013, 10:27 am

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Guest

If you really want to target the wealth and assets in this country... then the elderly are the ones you should eat.

http://www.pewsocialtrends.org/2011/11/07/the-rising-age-gap-in-economic-well-being/

We can start picking out the dessert demographic after it becomes clear that it wasn't enough... maybe the educated?

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