Weekly Address: Pushing Forward on Jobs

President Obama's weekly address focuses on the job report numbers that were recently released showing 11,000 people become unemployed in November, a better than expected number. Obama acknowledges that unemployment is still very high and that the public is feeling the pain of recession, but he also sounds an optimistic note, saying "our economy's growing for the first time in a year."

5 comments:

J said... / Dec 5, 2009, 10:45:00 PM  

"Hate to say it, but we told you so. The economy has a natural buoyancy, and when it's held down for any length of time, it's tendency is to bob right back to the surface. That's what happening now.

But let's repeat: This is not the result of the $700 billion TARP program, the $787 billion in "stimulus," the $1.2 trillion in new money printed by the Fed or any other dubious government action. It's because businesses cut and cut and cut, and could cut no more. Now they're seeing inklings of growth — "green shoots," as it were.

That's why we scratch our heads when we hear Congress and the White House plan even more spending to boost job creation. This is folly in capital letters. The economy is recovering on its own; it doesn't need more inept intervention."

http://digg.com/u1HZSC

Codester said... / Dec 6, 2009, 3:26:00 AM  

Hee Hee Hee.

Yeah... who needs to give credit where credit is due.

Had we done nothing at all... those banks at the cornerstone of the American debt would have gone under and others would just absorb the loss... no problem. Free market reigns. Let it fall. Let it go under.

What a fuckin' crock of shit.

FDR and the New Deal Keynesian theory play out TWICE in history in HUGE way to bring us back from the brink... and you motherfuckers will never admit it.

The Dow turned around first. The stock market rebounded and just as I kept saying all along... the LAGGING INDICATOR of unemployment figures would follow.

Suck it, conservative moron. Suck the big one.

You idiots have damn good reason to be worried now... and I completely understand.

J said... / Dec 6, 2009, 12:47:00 PM  

"Had we done nothing at all... those banks at the cornerstone of the American debt would have gone under and others would just absorb the loss... no problem. Free market reigns. Let it fall. Let it go under."

Umm...yea. That's called competition and fair play and even a lot of leftists agree with me that we shouldn't have bailed out Wall Street the way we have. You let the market clean out its excesses and you get a faster recovery instead of propping up failed business models.

"The Dow turned around first. The stock market rebounded and just as I kept saying all along... the LAGGING INDICATOR of unemployment figures would follow."

As the article I linked to says, businesses cut and cut back. When they do that, their profit margins start to look more attractive and that brings new investors in. In addition, there was wide consensus in the financial world that stocks were at a discount after the crash. That has nothing to do with a stim package or TARP.

"FDR and the New Deal Keynesian theory play out TWICE in history in HUGE way to bring us back from the brink... and you motherfuckers will never admit it."

That's because it didn't play out in the way that you or other Keynesian folks want to imagine it. World War II drafted a huge percentage of men, lowering the unemployment rate. And World War II helped shore up our manufacturing base. The US didn't really see prosperity like the roaring 20s' again until the Eisenhower era.

" “We have tried spending money. We are spending more than we have ever spent before and it does not work…After eight years of this Administration we have just as much unemployment as when we started…And an enormous debt to boot!” - Henry Morgenthau, FDR's Treasury Secretary.

The "jobs bill" is an ADMISSION of failure, and plenty of liberal writers have basically come out and said the stimulus program has failed.

I just got a new job after 8 months of being unemployed. Are you fucking telling me that me getting a job with a private employer has something to do with the stimulus package?

Codester said... / Dec 7, 2009, 10:47:00 AM  

I'm turning off moderation of comments.

Don't fuck up.

J said... / Dec 7, 2009, 2:22:00 PM  

Fuck up? I never do, I'm just here to add objectivity and shine the light into that deep, dark well of leftism you seem to have fallen into.

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