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Obamanomics 101: The Bad News Is, the Good News Isnít Really That Good
Hot Air ^ | July 28, 2009 | THE OTHER MCCAIN

Posted on 07/28/2009 7:18:13 AM PDT by RobinMasters

The Boss today calls attention to a New York Times feature about unemployment:

It’s bad enough that the unemployment rate has doubled in only a year and a half and one out of six construction workers is out of work. What truly troubles President Obama’s economic advisers is that, even adjusting for the recession, the contraction in employment seems way too high. . . . The Federal Reserve now expects unemployment to surpass 10 percent . . . The economy has shed 6.5 million jobs . . . Economists fear that even when the economy turns around, the job market will be stagnant.

Even while the media keeps pushing “recovery” talk, the further ahead you look, the scarier it gets:

The global economy may fall back into a recession by late 2010 or 2011 because of rising government debt, higher oil prices and a lack of job growth, said Nouriel Roubini, the New York University economist who predicted the credit crisis. A “perfect storm” of fiscal deficits, rising bond yields, “soaring” oil prices, weak profits and a stagnant labor market could “blow the recovering world economy back into a double-dip recession,” he wrote . . .

(Excerpt) Read more at hotair.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: agenda; bho44; bhoeconomy; communism; democrats; economy; hopeychangemas; hopeychangey; marxism; obama; obamanomics; obamunism; socialism; taxes; unemployment

1 posted on 07/28/2009 7:18:13 AM PDT by RobinMasters
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To: RobinMasters

Obamas fault. Wheres those stimulus and “green” jobs?


2 posted on 07/28/2009 7:19:32 AM PDT by BipolarBob (Magic Skittles, not genetics, makes me smarter than you.)
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To: RobinMasters

The correct term is OBAMUNISM; not Obamanomics.

Obamunism

3 posted on 07/28/2009 7:35:30 AM PDT by Bon mots
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To: RobinMasters

for a grim and honest read go to

http://matterhornassetmanagement.com/newsletter/?newsletter=20?321


4 posted on 07/28/2009 7:47:37 AM PDT by freedommom
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To: RobinMasters

Meanwhile, the ObeyMe administration is whistling past the graveyard.


5 posted on 07/28/2009 7:50:22 AM PDT by rarestia ("One man with a gun can control 100 without one." - Lenin / MOLWN LABE!)
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To: AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...
The global economy may fall back into a recession by late 2010 or 2011 because of rising government debt, higher oil prices and a lack of job growth, said Nouriel Roubini, the New York University economist who predicted the credit crisis.

6 posted on 07/28/2009 8:02:34 AM PDT by SunkenCiv (https://secure.freerepublic.com/donate/__Since Jan 3, 2004__Profile updated Monday, January 12, 2009)
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To: Bon mots; RobinMasters; All

7 posted on 07/28/2009 8:06:51 AM PDT by musicman (Until I see a REAL C.O.L.B. BC, he's just "PRES__ENT" Obama = Without "ID")
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To: RobinMasters

“and one out of six construction workers is out of work.”

i’m not a keynesian but you’d think if anyone made out like bandits after the stimulus deal, it would be the construction workers.


8 posted on 07/28/2009 8:29:32 AM PDT by ari-freedom (Fiscal conservatism without social conservatism is dead.)
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To: ari-freedom

http://www.freerepublic.com/perl/post?id=2302729%2C8

The chicks torpedoed the stimulus construction jobs, creating a mancession.


9 posted on 07/28/2009 8:46:40 AM PDT by sportutegrl (If liberals could do math, they would be conservatives.)
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