Posted on 06/04/2010 11:07:14 PM PDT by TigerLikesRooster
Reich: Crumbling Labor Market Pulling US Back Into Recession
Friday, 04 Jun 2010 04:10 PM
By: Frank McGuire
Economist Robert Reich said the United States is sliding into a double-dip recession because the labor market continues to deteriorate.
“The private sector added a measly 41,000 net new jobs in May. But at least 100,000 new jobs are needed every month just to keep up with population growth,” he wrote on his website.
The average length of unemployment continues to increase, rising to 34.4 weeks, up from 33 weeks in April.
/snip
“The only reason the economy isn't in a double-dip recession already is because of three temporary boosts: the federal stimulus (of which 75 percent has been spent), near-zero interest rates (which can't continue much longer without igniting speculative bubbles), and replacements (consumers have had to replace worn-out cars and appliances, and businesses had to replace worn-down inventories),” he wrote.
“Oh, and, yes, all those Census workers (who will be out on their ears in a month or so).”
(Excerpt) Read more at moneynews.com ...
P!
Rush says it best...
Robert B Reiiiiiiiiiicchhhhhhhhht!!!!
How bad is it?
Some libs are starting to tell the truth....
I am really starting to get scared here.
Now I know what happens to circus midgets when they retire.
From the the Lolly Pop Guild to Washington DC.
http://www.youtube.com/watch?v=k_CAs3q7G48
Reich has no reason to lie for 0bama.
He knows if the Dems throw Huessein under the bus and nominate Hillary, he has a shot at getting a job again.
Even Robert Reich could use a job in the 0bama economy.
Ricccccchhhhhhhhhh, is such a little termite. He enabled this kid of stuff non-stop for the Clintons, covers for the current boy genius, and here says the census worker gimmick was a bad idea.
Robert, you haven’t got jack when it comes to street cred.
With the Hussein Regime in power, I don’t recognize America now!
When he was in the Clinton administration, his Secret Service covername was FIREPLUG.
Many people started hunkering down as soon as they realized that Ubama was no longer interested in hiding his communist roots. The communist health care that he shoved Nazi-like down America’s thoat was the cherry on top. Hunker down now, if you haven’t already. This Kenyan p.o.s. has zero interest in normal American citizens. Ubama is all about reparations, and creating as many government-addicted parasites as possible, because that is the natural way to expand the Democrat party base.
Bail on stocks and bonds entirely. Sell any valuable items you can bear to part with (while there are still buyers with cash to pay for them) and hoard enough cash money in the mattress to make at least 5 years of monthly payments on credit cards and mortgages that you’re not liquid enough to pay off immediately. Move whatever cash you have left into gold. Not paper that says you have gold - - real gold that you can roll around in your hands like G. Gordon Liddy. I like gold coins. Distance yourself in every way possible from government and anything it touches. Good luck.
P.S. Run, don’t walk.
Reich confuses cause and effect. Politicians and regulators are imposing poor fiscal and monetary policies on the nation together with marxist take-over of industries, killing the economy. The “labor market” suffers as a consequence. The “labor market” is not dragging the country into another recession. Obama and his cohorts in Congress are.
"Most Americans know that the U.S. economy is in bad shape, but what most Americans don't know is how truly desperate the financial situation of the United States really is. The truth is that what we are experiencing is not simply a "downturn" or a "recession". What we are witnessing is the beginning of the end for the greatest economic machine that the world has ever seen.
Our greed and our debt are literally eating our economy alive. Total government, corporate and personal debt has now reached 360 percent of GDP, which is far higher than it ever reached during the Great Depression era. We have nearly totally dismantled our once colossal manufacturing base, we have shipped millions upon millions of middle class jobs overseas, we have lived far beyond our means for decades and we have created the biggest debt bubble in the history of the world. A great day of financial reckoning is fast approaching, and the vast majority of Americans are totally oblivious.
Didn’t know that. Perfect. His lack of stature perhaps contributed to the formation of his world view. Something sure went wrong somewhere.
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