Skip to comments.Current High Unemployment Rate to Remain Same 'Years From Now' Says Santelli (Video)
Posted on 04/12/2010 12:52:37 PM PDT by Rufus2007
A little over a year ago, President Obama signed into law the $787-billion stimulus legislation that was supposed to prevent the unemployment rate from exceeding 8 percent. And although the unemployment has receded some from its high, it's still well North of 9 percent. So if that stimulus is given more time, will unemployment improve?
Last week's jobless claims numbers, showing a stagnant unemployment rate of 9.7 percent, didn't provide any reason for optimism. And on CNBC's April 12 "Squawk Box," host Joe Kernen asked CNBC CME Group floor reporter Rick Santelli if this economic indicator is going to be stubborn number, which would confirm a failure of Obamanomics.
"Rick, I wasn't here last week when that claims number came out. But if I could really just dig deep down into your view, do you think a year from now we're still going to be talking about a stubborn unemployment rate, Rick?" Kernen asked.
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No matter what the STATED purpose was, the intent was to pay back political supporters and fund future election cycles while bankrupting/looing the nation.
You will deal with all this bad economic news until the usurper is out of the White House...so think three more years of a bad economy before you could even begin to turn it around.
I read today that on RASMUSSEN polling...the number of people who prefer REPEALING Obama care has gone from54 % to 58% its getting more unpopular rather than the way his guys spun it...so time will tell...
10 is the new 5.................
And two years from now, Barry will still be blaming George W. Bush for this mess...
But how sophisticated of us, with a European-style unemployment rate!
It will take at least 2 years after he’s gone for the economy will turn around. THE GREAT OBAMA DEPRESSION will be worse than what our Grand parents experienced during “The Great Depression.”
If unemployment goes down, then inflation will go up.
If inflation goes up, then interest rates will go up.
If interest rates go up, we’ll have a new housing foreclosure crisis on our hands.
We’re screwed for a while.
The government did not layoff the workers, private industry did. The government can’t ‘stimulus’ all the income lost by exported jobs.
Check what you buy, see where the jobs went.
“Check what you buy, see where the jobs went.”
Where are the howls from the press?
Unemployment was what, 5 or 6 percent at worst under Bush and the vultures did nothing but bitch.
10 percent under obammy and, not a word.
This has all been fixed.
10% is the “new normal”, so the unemployment problem is gone and Obama no longer needs to do a damn thing about jobs... of course, in over a year—he never did.
We are no longer in a war against terrorists. There is no such thing as Islamists.
Obama has “saved” so many jobs that job growth is no longer needed.
The price of gas is going up, but we don’t need to drill for our own because Obama is becoming friends with those in the Middle East.... besides, he’s saving the world from Global Warming.
Just shut the hell up, take the free Obama money and worship the Bastard in Chief.
Next year, Obama will remove the word cancer from our vocabulary and simply call it an, “inconvenient expedited passing”. Then we can all hail Obama for wiping out cancer.
A good way around this situation is to look at it as an opportunity. There are several States in the Midwest that are underpopulated, and are always on the lookout for new citizens. In past, they have offered lots of deals to get people to move there.
So why not do so on a grander scale? After the census is over, it will be ten years before the next one, so those States should make a deal with other States that have high unemployment.
“Send us your unemployed, and we’ll homestead them, if you help split the cost of getting them started.”
This strongly benefits the high unemployment State, because it will drop the total number on public support, saving them a lot of money, and is well worth the cost of just one years’ benefits to save several years’ benefits.
And it also benefits the underpopulated States, because it allows them to double the homestake incentive. Add to that, this immediately provides work for the first of the unemployed who arrive, building housing and infrastructure for other new arrivals