Posted on 09/01/2012 11:23:50 AM PDT by SeekAndFind
It is bad, of course. More than three years with more than a (rather generously calculated) eight percent unemployment rate is unacceptable and egregious. But things can still stand to get a whole lot worse — and they will, if we continue to follow the proffered example of debt accumulation that Europe has laid out for us. Bloomberg reports:
Euro-area unemployment rose to a record and inflation quickened more than economists forecast as rising energy costs threaten to deepen the economic slump.
The jobless rate in the economy of the 17 nations using the euro was 11.3 percent in July, the same as in June after that month’s figure was revised higher, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995. Inflation accelerated to 2.6 percent in August from 2.4 percent in the prior month, an initial estimate showed in a separate report. That’s faster than the 2.5 percent median forecast of 31 economists in a Bloomberg survey. …
The European Central Bank, which will publish its latest economic projections next week, said in June that the euro-area economy may shrink 0.1 percent this year, with inflation averaging 2.4 percent. The ECB aims to keep annual gains in consumer prices just below zero.
And as ZeroHedge summarizes, the youth unemployment rate — having long since shot way past alarming — continues to worsen.
When we last looked at youth unemployment in Europe, things were stabilizing a little, though at extremely lofty levels. With the release of July’s data, the situation has deteriorated rapidly; Euro-Zone youth unemployment hs now ticked back up to its euro-era record-high of 22.6% (18-year highs). … Italy was the hardest hit, back above 35% with its largest rise in youth joblessness in 5 months, Ireland rose back above 30% for its biggest rise in 11 months as France jumped to two-year highs and Spain and Greece are practically deadlocked with ~53% of their younger-generation out of work – new all-time records.
Take a good look — this is where our future is headed right now if we don’t make some sharp turns, and soon. Or not. No really, by all means, federal government: Please keep on with our monstrously unsustainable habit of spending money we don’t have on programs we don’t need — it’s not like our country’s prosperity or my generation’s level of opportunity are at stake, or anything.
And incredibly there are morons out there, LOTS of them, who are hellbent on voting for this fool again. I talk to them all the time, and it’s mindblowing how they just can’t get a grip on reality. The neurons just aren’t there.
I don’t see the enthusiasm for Obama anymore (maybe because NJ - including its black and Hispanic residents - is in terrible shape).
I’d think many high school and college grads of the last three years are going to be voting Romney; they are certainly more motivated than any of their peers still believing in “hope & change”.
Are they morons or just enjoying their ride on our taxpayer largesse?
It's called the Christie recovery.
Well there definitely is less enthusiasm for admitted foreign national from Kenya, but there is still a LOT of fools out there who still worship him. For example you see these polls where it seems Romney and the foreign national are neck and neck, and it seems like BS. I mean how could this guy possibly be neck and neck with Romney? He’s the worst President in US history! Charles Manson running against him should win, ABO -Anybody but Obama! But it really isn’t BS. Go to any BB or newspaper comments and the Obama disciples pretty much equal the Romney supporters. There are still massive amounts of the double digit IQs out there who just buy into his nonsense hook line and sinker. If Romney can’t get the undecided he has no chance. It’s going to be a very close election IMO unless the Marxists screw up massively at their convention and in the debates. It’s going to be one hell of a nail biter on election night.
Who do you think is responsible for just about everything you buy is made in some other country? Industrial unions are about dead now, effective tax rates are lower than in the past, regulations could be a problem, maybe lawyers. But I think none of these are the ultimate cause.
The industrial engine has been killed, depending on Gingrich-Gore finance-information age 4th Wave to propel the economy. This has flopped and nothing appears on the horizon as a growth engine.
With the failures of both parties who do people vote for?
“It’s called the Christie recovery.”
He has helped ease the pain (especially with his fight with the unions - he has all the right enemies), but the built-in high costs in the socialist northeast will always lose to lower-cost states for a business environment.
He would defeat any challenger for re-election; the taxpayers appreciate his efforts.
“Are they morons or just enjoying their ride on our taxpayer largesse?”
If our unemployment rate was computed in the same way the rate was calculated in 1940 and retroactively figured for the Great Depression, our current jobless rate would be as high or higher than during the Depression. The distribution of wealth has worked to keep elements of “the poor” content.
Your suspicions are confirmed!!
I think that as in previous elections people are going to look at the unknown aspects of a Romney presidency and compare them to the four years Obama already had, and the choice will be simple. It may be wishful thinking, but very few demographics are happy with Obama; he could sell his nonsense years after prosperity is a thing of the past, but too many people remember having discretionary income for things besides groceries and gas - and that should suffice to sink him.
One gauge I am using is the fact that almost nobody I know who voted for him last time is happy with him, many have openly stated that he is a failure, and all that opposed him 4 years ago are supporting Romney. All of them.
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