Skip to comments.Obamanomics 101: The Bad News Is, the Good News Isnít Really That Good
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:
Its 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 Obamas 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 ...
Obamas fault. Wheres those stimulus and “green” jobs?
for a grim and honest read go to
Meanwhile, the ObeyMe administration is whistling past the graveyard.
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.
“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.
The chicks torpedoed the stimulus construction jobs, creating a mancession.
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