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Remember When Nancy Pelosi Asked "Where are the jobs, Mr. President?"

I remember when she asked that. It was back in late 2003. I included the quote and the context in my column at American Issues Project today.

In late 2003, when economic growth surged "at the fastest pace in nearly two decades" with the gross domestic product (GDP) growing at a 7.2 percent rate, those in Congress hoping to convince voters that George Bush's policies were failing pointed to the unemployment numbers. To draw attention away from the incredible growth numbers, Democrats pointed to the job market which lagged behind other economic indicators.

In August 2003, reacting to a July unemployment rate of 6.2 percent, Congresswoman Nancy Pelosi asked "Where are the jobs, Mr. President." With the current unemployment rate at 9.8 percent and many predicting it will go higher over the coming months, House Speaker Pelosi should be asking that question even more emphatically than she did six years ago.

So, where are the jobs, Mr. President? Remember that President Obama warned the country that we could see a 9 percent unemployment rate next year if his $787 billion "stimulus" wasn't passed. (Again, in case you missed it above, last month the unemployment rate hit 9.8 percent.)

A few months after Pelosi asked about jobs in 2003, they materialized in a big way. Here is an excerpt from the Reuters story from 2004 which indicates just how fast the political winds shifted.

The shift in political rhetoric from the "jobless recovery" lament of the Democrats to "nearly a million jobs in 100 days" of the Bush administration appears to have reached consumers, whose confidence levels hit the highest level in two years in June, according to a Conference Board report this week.
I hope for the sake of all those looking for work that the job market rebounds as wonderfully as it did in 2004, but I fear the kinds of jobs we are going to see in the short term will be temporary ones resulting from government stimulus spending. If the unemployment situation does not improve significantly between now and Election Day 2010, those currently in power could be in serious trouble. If the unemployment rate continues to rise, exceeding 10 percent as many experts are predicting, 2010 could be a very bad year for Democrats.

Update: This kind of stuff (via the NRSC) is not going to help Democrats:

At a White House meeting today to discuss "job creation efforts," Democrat Senate Majority Leader Harry Reid (D-NV) took time to praise the so-called "stimulus" package for "making a real difference."

This remarkable statement comes nearly eight months after Reid railroaded the nearly trillion dollar "stimulus" package through the Senate, promising it "would create three and a half million jobs across the country, including 34,000 in Nevada."

Since then, however, unemployment rates in Nevada and across the country have continued to rise, recently reaching a 30-year high in the Silver State over the summer, while soaring to a 26-year high point nationwide last week.

Update II: More on the issue from Mark Tapscott.


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Comments (59)

Nice to see someone on the ... (Below threshold)
Victory is Ours:

Nice to see someone on the right rooting for everyday Americans for a change, instead of just pimping for the rich, the CEOs and the mega corporations like the health care insurance giants.

And in case you missed it:

In a positive sign for the labor market, the number of U.S. workers filing new claims for jobless benefits decreased more than economists expected last week.

Total claims lasting more than one week, meanwhile, also declined.

Initial claims for jobless benefits fell by 33,000 to 521,000 in the week ended Oct. 3, the U.S. Labor Department said in its weekly report. The last time initial claims were this low was on January 3. The previous week's level was revised from 551,000 to 554,000.

Economists surveyed by Dow Jones Newswires had expected a decrease of only 11,000.

The four-week moving average of new claims, which aims to smooth volatility in the data, also fell by 9,000 to 539,750 from the previous week's revised figure of 548,750. The last time the four-week moving average was this low was on January 17.

That's this morning's news. Things are improving. Nice to see the right on board for a change and hoping things will improve instead of hoping things will get worse so Obama will fail.

Byrd above"If the unemployment situation does not improve significantly between now and Election Day 2010, those currently in power could be in serious trouble. If the unemployment rate continues to rise, exceeding 10 percent as many experts are predicting, 2010 could be a very bad year for Democrats."

Woops, guess I spoke too soon. You are still focused on gaining political power through the pain of everyday Americans.

The 2010 election is rapidly approaching. Improving jobs numbers is good for America but bad for Republicans, according to this author.

What does that tell you about the priorities of the right wing?

Vic

Does Vic live in a alternat... (Below threshold)
Michael:

Does Vic live in a alternate universe? Improving job numbers?...is he for real?

More bad news:<blockq... (Below threshold)
Victory is Ours:

More bad news:

Economists surveyed by Bloomberg in September projected the economy will expand at an average 2.6 percent pace in the second half. Consumer confidence also reached its highest level since January 2008 in the University of Michigan-Reuters index.

Quick! Put on your Chicken-Little suits everybody and start running in circles pointing up at the clouds!

The Sky is Falling!

The Sky is Falling!

(is it working? are we fooling anybody?)

Vic

I think that it would be gr... (Below threshold)
TOhio:

I think that it would be great if someone could get a copy of Nancy Pelosi saying this in 2003 and post the video of it on YouTube.

This would be great to send around to people who have forgotten all about this. I certainly did.

and still MORE bad news:</p... (Below threshold)
Victory is Ours:

and still MORE bad news:

The U.S. economy is improving, and is unlikely to slip back into recession, Federal Reserve Bank of Kansas City President Thomas Hoenig said in Denver on Tuesday evening.

"I see nothing that conflicts with the widely held opinion that we are in recovery," Hoenig said in remarks prepared for delivery at an economic conference in downtown Denver. "Consumer confidence is rebounding, and we are starting to see improvement in business and manufacturing. ... A vast amount of stimulus has been put in place to spark this recovery, and I believe it will prevent a double-dip recession."

and still MORE bad news:

Google Inc. is seeing an economic recovery under way, not just in the U.S., but also in Europe, CEO Eric Schmidt said Wednesday.

Historically, Europe has lagged a U.S. economic recovery by up to six months, Schmidt told reporters. This time, the CEO said, the continent appears to be keeping pace with the U.S., where the economy has been improving since June, based on the usage of the Internet's largest search engine and most profitable advertising network.

OH NO! Yet MORE bad news:

Many U.S. small businesses are optimistic about growth and see the economy improving in three to six months, according to a survey released on Friday.

Four out of five small businesses are pursuing a moderate or aggressive growth strategy, expanding into new markets and producing more revenue among existing customers, according to the survey by Chase Card Services, the credit card division of JPMorgan Chase & Co (JPM.N).

Only 5 percent said they were not looking to grow business aggressively, according to the survey, which questioned 168 chief and senior executives from the annual Inc. 500/5000 list of fastest-growing small companies between Sept. 10 and Sept. 14.

Shake your tail feathers, everybody - the sky is falling, remember?

Vic

Wow, got your talking point... (Below threshold)
Gmac:

Wow, got your talking points hot off the fax machine and started farming them out early VIO?

See the story just below as to why the economy is going to crater. You can't raise taxes and expect economis results that are positive, no matter how cheerful you spread the BS.

economis = economic... (Below threshold)
Gmac:

economis = economic

Putting the doomsayers into... (Below threshold)
Victory is Ours:

Putting the doomsayers into context:

Republicans are already harnessing voter unease over deficit spending and proposed changes to the health-care system. But they see the economy as the Democrats' main vulnerability. "The biggest threat to the president's party is not health care, a climate-change bill, or Afghanistan. It's jobs," said John Feehery, a Republican strategist.

Officials at the National Republican Campaign Committee said they planned to use the weak employment numbers to hammer at 54 Democratic House members that Republicans deem the most vulnerable in 2010. Republicans are particularly targeting the 49 House lawmakers in districts carried last November by Sen. John McCain, the Republican presidential nominee.

So at a time when the employment numbers are actually improving and the economy has clearly entered an expansion and growth period and effectively recovered from the Bush 2008 recession you'll see right wing pundits donning their Chicken Little suits and praying that the economy falters and more people lose their jobs.

That ain't American...

Vic

"Wow, got your talking p... (Below threshold)
Victory is Ours:

"Wow, got your talking points hot off the fax machine and started farming them out early VIO?"

Each and ever one of those quotes I posted are off the web from legitimate news sources.

Not one of the sources in Byrd's article above is off a legitimate news source, it's all right wing media partisan bullshit - all of them hoping that Americans will lose their jobs.

That ain't American...

Vic

In a positive sign... (Below threshold)
_Mike_:
In a positive sign for the labor market, the number of U.S. workers filing new claims for jobless benefits decreased more than economists expected last week.

Back in '03, Democrats were claiming that drops in the jobless claim filings were due to people who simply were so discourage that they just gave up.

I'm sure those who trotted out that argument now will be consistent....

Oh GAWD! I can't believe it... (Below threshold)
Victory is Ours:

Oh GAWD! I can't believe it. The stock market is expected to continue it's climb!

U.S. stock futures rallied after Alcoa Inc. started the third-quarter earnings season with an unexpected profit and jobless claims fell more than forecast. Commodities climbed, sending gold to a third straight record, as the dollar weakened.

Alcoa, the largest aluminum producer, jumped more than 5 percent. Freeport-McMoRan Copper & Gold Inc. and Barrick Gold Corp. helped lead mining shares higher. Futures extended gains as the government said first-time claims for unemployment benefits slid to 521,000 last week, the lowest since January. Europe's benchmark index rallied 1.1 percent, while Asian stocks advanced after Australian employers unexpectedly added workers.

"The stock rally should continue into the fourth quarter," said Tom Wirth, senior investment officer at Chemung Canal Trust Co., which manages $1.6 billion in Elmira, New York. "We're seeing an improvement in economic indicators. And Alcoa sent a very good indication for the overall earnings season. Commodities companies are early-cycle plays. That's another indication that things are getting better."

The continuing stock market climb means more Americans are seeing their 401Ks recover from the fall last year resulting from the Bush 2008 recession.

Americans now may actually be able to retire as planned! Crap! Poor Wal-Mart won't have enough 70 year old greeters to meet their needs!

That's terrible!

And what's even WORSE - according the CBO the current health care reform package will actually reduce the deficit, not increase it. Did you hear about that! Oh, this is so sad....

Legislation overhauling U.S. health care cleared its latest obstacle when the Congressional Budget Office said a Senate finance panel measure would reduce the budget deficit even as it insures millions more people.

Insures more and costs less! I can't believe our bad luck.

Quick! Let's write a pessimistic article and link to our fellow right wing media friends so we can talk down all of this terrible news!

Oh wait, Lorie did that already...

Vic

Liberals remind me of a pri... (Below threshold)
MPR:

Liberals remind me of a private in Wellington's army that was caught stealing a chicken from a farm. Despite having feathers all over his coat where he stuffed the chicken, he denied he had the chicken. Wellington was riding by when his officer was questioning the private. The Duke told his officer to promote the private to a corporal because he knew how to defend a hopeless cause. Liberals will steal, then lie about it. Deny it in the face of the facts. Then make it sound like an asset.
Feathers everywhere.

"Insures more and costs les... (Below threshold)
Hank:

"Insures more and costs less"

No wonder you vote dem. You actually believe this.

It is a tragedy in the maki... (Below threshold)
OLDPUPPYMAX:

It is a tragedy in the making, but 2010 will NOT be a bad election year for democrats. Far too many cheery, non-realists exist on our side. First, there will be 30-40 million new democrat voters as Mexicans suddenly become American citizens. So rather than voting 5 or 6 times ILLEGALLY, they will be practicing LEGAL voter fraud next year. Also, given the Justice department decision that intimidation at the polls is quite acceptable, look for Black Panthers, SEIU and ACORN thugs to participate on a grand scale throughout districts/states in which dem candidates are considered to be in peril. Democrats might well GAIN seats in 2010. Remember, you read it here first. Of course republicans can complain the day after the election! Won't that get a good laugh all around!

What the hell is Tapscott t... (Below threshold)

What the hell is Tapscott talking about?

The United States hasn't seen unemployment like this since 1941 when it hit 9.9 percent.

Huh? It was over 10 in the early 80s.

Oh, and as for the "positive" news on jobs this morning, people reporting that obviously didn't look at the very front page of Labor's BLS website: Nonfarm payroll employment continued to decline in September (-263,000), and the unemployment rate (9.8 percent) continued to trend up.

"up" means more unemployment, not less.

Oh, and aren't you all just... (Below threshold)

Oh, and aren't you all just thrilled that the market is going up some? It's only off, what, about 4000 points since the Dems took over Congress? Hoorah!

"the kinds of jobs we ar... (Below threshold)
P. Bunyan:

"the kinds of jobs we are going to see in the short term will be temporary ones resulting from government stimulus spending"

"Those who fail to study history are doomed to repeat it."

Just as Roosevelt turned a recession into the great depression so will Obama.

Unemployment is just one of... (Below threshold)

Unemployment is just one of the issues that Team Obama has proven itself utterly unable to handle ( http://www.conservativeblog.thewebinfocenter.com/conservative-blog/transparently-foolish ) The most transparent administration in history is now wrestling with Afghanistan, Iran, health care and a variety of other important issues with which it has no clue how to handle.

Traditional Demcorat methodology simply called for blame to be assigned to conservatives. They have no idea how to solve these problems and each time they try, their foolishness and ineptitude become even more glaringly evident. It will at least make for an interesting couple seasons on SNL.

"Each and ever one of those... (Below threshold)
Les Nessman:

"Each and ever one of those quotes I posted are off the web from"-unnamed and unlinked-" legitimate news sources."

VIC certainly has all the D... (Below threshold)
GarandFan:

VIC certainly has all the DNC talking points down. And a complicit MSM to try and sell it. The same MSM that screamed at Bush for a 5% unemployment rate, now touts a 9.8% unemployment rate as "showing signs of recovery".

Not to rain on your parade of 'good news' VIC, but the retail market is NOT showing signs of recovery. People are spending less, saving more and reducing outstanding debt. While all of this is commendable IN THE LONG RUN, it does not help a 'recovering economy' IN THE SHORT RUN.

So keep babbling all the 'happy talk' VIC.

Oh, and VIC, in case you mi... (Below threshold)
GarandFan:

Oh, and VIC, in case you missed the significance, the unemployment numbers CONTINUE TO RISE. Maybe not as fast as before, BUT THEY ARE STILL CLIMBING. The unemployed pool IS NOT SHRINKING.

Vic better get the good new... (Below threshold)
iwogisdead:

Vic better get the good news to the White House. Obama is thinking about a second "stimulus" plan to "respond to widening job losses."

http://www.bloomberg.com/apps/news?pid=20601087&sid=aRuiJDCk.HD4

Oh, and VIC, in case you... (Below threshold)
jim m:

Oh, and VIC, in case you missed the significance, the unemployment numbers CONTINUE TO RISE. Maybe not as fast as before, BUT THEY ARE STILL CLIMBING. The unemployed pool IS NOT SHRINKING.

Vic (like other moron dems) looks at the unemployment numbers like congress looks at the budget. Congress has built in automatic budget increases so if you hold the budget flat or increase at less than the scheduled increase you are decreasing funding.

Likewise the Dems see unemployment as going up, up, up. so a decrease in the rate of increase seems like a drop in unemployment to them.

So really the highest unemployment rate in over 26 years is not a bug it's a feature for the Dems. They want more people to be unemployed.

Unemployment effects the lower wage earners disproportionately. Lower wage earners pay less tax. Statistically, the people who pay the least taxes support Obama the most. They figure that the more people they can make dependent upon the government the more likely they are to win elections.

Well, let's all take a look... (Below threshold)
SShiell:

Well, let's all take a look at VIO's cause for elation regarding the economy.

Entry #1: Initial claims for jobless benefits fell by 33,000 to 521,000 in the week ended Oct. 3, the U.S. Labor Department said in its weekly report. The last time initial claims were this low was on January 3. The previous week's level was revised from 551,000 to 554,000.

Now that's reason for celebration - over half a million new jobless claims! And last week's numbers were short of the mark! Woo-Hoo, let's party!

Entry #3: Economists surveyed by Bloomberg in September projected the economy will expand at an average 2.6 percent pace in the second half.

But according to the Democrat's own gauge under Bush, "GDP at a 7.2 percent rate" was cause for concern along with an unemployment rate of 6.2%. Damn you wingnuts - Don't you know that Bush's 6.2% was a horror - not nearly as bad as our 9.8% today!

Entry #5: The U.S. economy is improving, and is unlikely to slip back into recession, Federal Reserve Bank of Kansas City President Thomas Hoenig said in Denver on Tuesday evening.

Yep, again reason for celebration. Never has a member of the Fed been wrong, have they? You might as well run out VP Biden - Plaigerizer-in-Chief for his take on the economy. Again - Whoo-Hoo! Let's party!

And then from Google: Historically, Europe has lagged a U.S. economic recovery by up to six months, Schmidt told reporters.

Nowhere in the article did it say that Europe, by and large, has rejected the US Stimulus methodology for attacking their economic woes. Instead, the UK, France, Germany, and the Scandinavian countries have concentrated on tax cuts as the primary method of adddressing the recession, much to the dismay of the Obama Administration.

Entry #8: VIO's own words for a change, So at a time when the employment numbers are actually improving and the economy has clearly entered an expansion and growth period and effectively recovered from the Bush 2008 recession you'll see right wing pundits donning their Chicken Little suits and praying that the economy falters and more people lose their jobs.

I would like to see the Economics text book that talks about falling employment numbers as a positive thing. Would you mind sharing there VIO?

But having said all that, dion't you feel better now that VIO has put us all in our place and we can go out and party like it's 1999! Or is that 2009?

Whatever!


The troll knows for a fact ... (Below threshold)
davidt:

The troll knows for a fact that 2 + 2 = 5.

"Oh, and VIC, in case yo... (Below threshold)
Oyster:

"Oh, and VIC, in case you missed the significance, the unemployment numbers CONTINUE TO RISE. Maybe not as fast as before, BUT THEY ARE STILL CLIMBING. The unemployed pool IS NOT SHRINKING."

That's about right. Vic is from the 'Global Warming Alarmist School' - the one that tried to tell us that the cooling temperatures were really "less rapid warming". In this case rising unemployment numbers are touted as "improving unemployment rates".

"At a White House meeting t... (Below threshold)
914:

"At a White House meeting today to discuss "job creation efforts," Democrat Senate Majority Leader Harry Reid (D-NV) took time to praise the so-called "stimulus" package for "making a real difference."

Your right S&M Leader Harry Reid (M-NV) THE "Stimucaca" package paid off all of You and Your bosse's syndicate debt while simutaneously fucing the American taxpayer.

Another piece of good news ... (Below threshold)
iwogisdead:

Another piece of good news for you Vic, in case you hadn't noticed; the dollar has been in a virtual freefall. It's lost over 12% of its value in the last six months--nearly one full percentage point today alone, so far. Weimar America, brought to you by Obama and the financial dimwits in Congress.

I don't hear Republicans ce... (Below threshold)
Lorie:

I don't hear Republicans celebrating the fact that millions are out of work, but do hear a few saying "we told you so" about the President's claim about what the "stimulus" would do for job creation this year. The main point in this post is, as some here have noted, Nancy Pelosi thought 7.2 percent growth of GDP and 6.2 percent unemployment was horrible, devastating, failure. If that was failure then what are we seeing today? It has to be no less than catastrophic devastation. Over 9 percent unemployment. If Democrats and the White House try to put a happy face on these numbers they are going to be seen as out of touch with reality, insensitive to those out of work, and just plain lying to the public. If things don't improve in a big way, in a big hurry, they might find themselves out of work next year.

Never mind that OPEC is goi... (Below threshold)
jim m:

Never mind that OPEC is going to move away from the dollar to a basket of currencies that will likely exclude the dollar for oil and gas trade.

So not only will the price of oil and gas fluctuate according to the oil supply but now according to the relative value of the dollar to these other currencies.

For Vic and other idiots: that means that price volatility will go up and stay up, which in turn means higher prices as energy companies will need to protect themselves from this increased risk.

Of course instead of strengthening the dollar, Obama's response will be to nationalize the energy industry and regulate pricing. My guess is that he will meet with as much success as his friend Hugo Chavez, who has destroyed his nation's industry and thus its economy.

Wow, all that posting and a... (Below threshold)
John Irving:

Wow, all that posting and all Vic did was confirm his status as both tool and fool.

Oh and Vic, in case you mis... (Below threshold)
jim m:

Oh and Vic, in case you missed he point of post #30 it is that if the economy were really getting that much better no one would be talking about replacing the dollar this way. The very fact that it is happening is testimony that the economy is still crappy.

It seems I heard a few year... (Below threshold)
Burt:

It seems I heard a few years back that raising the minimum wage would increase unemployment and be harmful to the economy.

Hmmm.

"It seems I heard a few yea... (Below threshold)
914:

"It seems I heard a few years back that raising the minimum wage would increase unemployment and be harmful to the economy."


So would electing a stupid community radical.

Remember when that raging s... (Below threshold)

Remember when that raging sociopath Pelosi promised "the most ethical Congress in history"? Ah the good times!

vic - "And what's even ... (Below threshold)
Marc:

vic - "And what's even WORSE - according the CBO the current health care reform package will actually reduce the deficit, not increase it."

Truth stretching in the extreme.

Or, you're just stupid and believe that CBO report scores all five current bills AFTER they are merged AND not just the Baucas bill.

So which is it, lying, or stupid?

And BTW, take all those "great" stock market gains in the last 6 months and subtract a tick over 11 percent - the amount the dollar has fallen in value the last 6 months.

P.S. Didn't Dingy Harry get... (Below threshold)
Marc:

P.S. Didn't Dingy Harry get the memo? It's no longer called a "stimulus", that pork has been renamed as "safety net."

Just ask Spokes M odel Gibbs.

The funniest thing about Ma... (Below threshold)
Steve Green:

The funniest thing about Marc is that's he's too stupid to know he's stupid.

Go look at how much the dollar fell during Bush's administration.

Gold was under $300 an ounce when Bush took office in 2001. It was $1000 when he left office, a 300%+ increase. The right wing WAAAs when Gold goes up $50 an ounce under Obama. It went $700 and ounce under Bush.

Why - because the dollar tanked throughout the Bush administration.

Should read "It went up $70... (Below threshold)
Steve Green:

Should read "It went up $700 an ounce under Bush."

But Marc is too stupid to understand that as well.

s green - "Go look at h... (Below threshold)
Marc:

s green - "Go look at how much the dollar fell during Bush's administration."

I'm "stupid" for noting current conditions, AND staying on topic.

But you... you on the other hand bring up old news as a diversion from said topic and by implication claim some type of superiority.

Nice try.

You either looked it up and... (Below threshold)
Steve Green:

You either looked it up and realized how stupid you are - or you are too stupid to know how to look it up.

It fell as much as 40% during the Bush administration and only rose significantly as it became obvious that the Republicans would be booted out of the White House.

You're also stupid for comparing it to stock market gains and suggesting that it should be subtracted.

Have prices rising 11% because the dollar fell 11%?

Even an idiot should know the answer to that question.

s green - "You're also ... (Below threshold)
Marc:

s green - "You're also stupid for comparing it to stock market gains and suggesting that it should be subtracted."

So in your estimation a 11 percent drop in the value of the dollar as no effect on purchasing power, is that it?

If so the "stupid" is in your mirror, the mirror that would cost 11 percent more now than 6 months ago.

P.S. in case you confused b... (Below threshold)
Marc:

P.S. in case you confused by the term "purchasing power," which surely is the case, here's the definition:

"The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase."

Lemme guess, bet you also think inflation in an economy means you can buy more things with the same amount of cash because the dollar is "inflated."

Sorry mental midget, the dollar, or any currency doesn't work like a Macy's Thanksgiving Day parade balloon.

If there ever was a leading... (Below threshold)
iwogisdead:

If there ever was a leading indicator, it's the price of gold, followed closely by the BOT value of the dollar.

The dollar goes up and down, but (it seems to me) the 11-13% tanking of the dollar since Obama and the Dems took over is unprecedented. If there's a similar drop over an 8-month period, I don't remember it. The (nearly one point) drop over the last day since the CBO report on Obamacare is significant.

It's only going to get worse from here, folks.

Marc the moron continues to... (Below threshold)
Steve Green:

Marc the moron continues to exhibit his stupidty.

Marc thinks the American dollar is worth 11% less at the grocery store.

Marc doesn't realize that the 11% drop refers to the value of the dollar against specific foreign currencies.

Marc is so moronic he thinks an "11% drop" means the dollar in your pocket is now worth 11% less. That's true only if you are trying to buy Euros with it.

Marc has now proven himself to be major league idiot.

The dropping dollar, among other things, makes American goods cheaper oversees, and it supports US exports because foreign currencies can now buy more American goods with their currencies.

That's why the Bush administration let the dollar tank as much as 40% over the course of their administration. It was all part of the Bush house of cards that resulted in the meltdown that lead to the recession.

If they had supported the dollar the recession would have started sooner. As it was they tried to hold off the recession until after the 2008 election. They failed because of the banking collapse but the recession was already underway long before last September, having started back in January of 2008.

Marc, you're an idiot. You act like a third grade bully and you think like a second grade dropout. No wonder everyone ignores you - but I take pleasure in showing everyone just how stupid you are.

By the way Marc, anytime yo... (Below threshold)
Steve Green:

By the way Marc, anytime you're ready you can post a link to support your claim that dollar has dropped 11%.

I clicked on the link you had in comment 36 and it says gold has risen 11%, not that the dollar has fallen 11%

That's how stupid you are. LOL

No, Marc, the mirror doesn't cost 11% more than it did before you cretin. Get a friggin clue.

I must say, I usually don't... (Below threshold)
WildWillie:

I must say, I usually don't direct my comments directly to the lefty loons and in this case Stevie, but my gosh he deserves it.

Stevie, I would take Marc's opinion, ideas and facts over your lying ass any time of the day. Marc has proven himself around these parts to be a stand up guy with more then a average knowledge of current events. You come on this site to denigrate, smear, make fun of or use juvenile language and you expect us to actually care what you say. Vic and you are two lefty loons but Vic seems like Einstein next to you. You putz. Go get on the Sesame Street blog. ww

s green - "By the way M... (Below threshold)
Marc:

s green - "By the way Marc, anytime you're ready you can post a link to support your claim that dollar has dropped 11%."

I'm "stupid," but your reading ability, and powers of observation, are nil as evidenced by the link provided in comment number 36.

Steve Green.You ca... (Below threshold)
Mac Lorry:

Steve Green.

You call Marc a moron for his statement about the drop in the dollar and then you come up with this:

It was all part of the Bush house of cards that resulted in the meltdown that lead to the recession.

Now that's moronic.

m lorry - give the guy a br... (Below threshold)
Marc:

m lorry - give the guy a break, it's not like he wades in here and lies. - much.

MacLorry - Don't tell me yo... (Below threshold)
Steve green:

MacLorry - Don't tell me you're one of those simpletons who don't know that the recession started in January 2008???

http://www.nber.org/cycles/dec2008.pdf

Obviously Marc isn't smart enough to know that, but surely some of you do, right?

Oh wait, you all watch Fox News and think Africa is a country and you can see Russia from your house. I forgot.

The committee determined that a peak in economic activity occurred in the U.S. economy in December 2007. The peak marks the end of the expansion that began in November 2001 and the beginning of a recession.

Bush knew it. Bush orchestrated the drop in the dollar.

. . . and you can see R... (Below threshold)
iwogisdead:

. . . and you can see Russia from your house.

That was line uttered by an actress in a comedy skit, you dumbass. There's a difference between fictional TV and reality, meathead.

s green - "Bush knew it... (Below threshold)
Marc:

s green - "Bush knew it. Bush orchestrated the drop in the dollar."

That "Bush did it" horse is dead after tripling the US deficit and an additional 11 percent drop in the dollar.

Pssst, "Devaluation, the deliberate downward adjustment in the official exchange rate, reduces the currency's value; in contrast, a revaluation is an upward change in the currency's value."

Go ahead, call the NY Fed a pack of liars.

Pssst, US Dollar drops 11 percent.

By the way Marc, anytime... (Below threshold)
iwogisdead:

By the way Marc, anytime you're ready you can post a link to support your claim that dollar has dropped 11%.

Well, I'm not Marc, but take a look at this chart, you moron:

http://quotes.ino.com/chart/?s=NYBOT_DX&v=d12

86 when Obama took office, 76 tonight, you cretin. That's a drop of 10 points, or about 11.5%, moron. If you want, I'll email instructions on how to you a calculator, idiot.

Another dumbass. Why are there so many?


Steve Green,<blockquo... (Below threshold)
Mac Lorry:

Steve Green,

MacLorry - Don't tell me you're one of those simpletons who don't know that the recession started in January 2008???

Now you're playing stupid with yourself. The "meltdown" as you called it was the result of the sub prime mortgage mess that has it's roots in the Carter administration, and added to by the Clinton administration. In Bush's first budget request to Congress he called for a tightening of regulations to head off the collapse of the housing market. It's a mater of public record.

<a href="http://gatewaypund... (Below threshold)
Mac Lorry:

Here's a story listing the many attempts Bush made trying to prevent the "meltdown" due to the runaway sub prime mortgage stampede.

Sigh, so much dumbassery, s... (Below threshold)
Gmac:

Sigh, so much dumbassery, so little time...

Steve, the people that set economic policy and that have been in control of it since 2006 are you good friends in the Democrat controlled House of Representatives.

Charles Rangle, House Ways and Means chairman.
Go look it up, facts have a rather clarifying effect on the thinking process.

They have set the legislative spending rules and OWN the shitstorm this country is in. Bush was one part of the equation as specified in the Constitution but the Democrats were and are the ones that write all the spending bills sent to the Senate and then on to the president for his signature.

Idiots like you that jump up and down and scream "Its all Bush's fault" are fools deluding yourselves because you fail to see or flat out refuse to acknowledge that it is the Democrat party that kicked this resession into high gear with their failed spending policies, seizure of businesses and tax increases.

Do everyone a favor, sit down, shut your yap and become knowledgeable about something before you open up on your keyboard and prove you're a moron, again.

Michigan Unemployment Trend... (Below threshold)
Pete:

Michigan Unemployment Trends - August 2009

Michigan Unemployment Trends in Heat Map form:
here is a map of Michigan Unemployment in August 2009 (BLS data)
http://www.localetrends.com/st/mi_michigan_unemployment.php?MAP_TYPE=curr_ue

versus Michigan Unemployment Levels 1 year ago
http://www.localetrends.com/st/mi_michigan_unemployment.php?MAP_TYPE=m12_ue

I remember this same story ... (Below threshold)
bobdog:

I remember this same story in July, with Obama and the media praising a slight dropoff in the "expected" number of new job losses. I'm certain it will be a cause of good cheer in Detroit, which now has 30% unemployment.

I don't recall reading a lot of stories about the following month's report, which returned to the trendline and kept climbing. July was a tiny little notch in the chart. Let's see the numbers next month. I think I can guess what is going to happen.

What are we up to now, 7 million jobs lost this year? We're celebrating another half million jobs lost?

Well, yippee.




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