Posted on 09/08/2012 3:26:24 AM PDT by Kaslin
To give you an idea how bad the jobs report released on Friday is, consider this fact: The employment situation in the country is so bad that economists can’t accurately measure it with the existing tools they use to measure jobs. In other words, we have entered a period in our country not contemplated by economists. They simply don’t have the tools to measure what’s actually occurring in the jobs market.
Modern economists never imagined a scenario in which a country with as much wealth, power and innovation as United States could stretch out a jobs recession as long as the country has under Obama.
Economists please meet Barack Hussein Obama, record-setter. More debt, more spending, more regulation than ever before- and fewer jobs.
We have a record amount of money in the system doing a record amount of nothing right now. And still the government policy wonks keep thinking that by injecting more money into a system already over-burdened by its money supply we will eventually get different results.
Only Obama could preside over an economy with so much money that has produced so little return as our economy has since January 2009.
Never in the annals of human history have so many dollars done so little for so many.
1 percent unemployment number is meaningless. It actually doesn’t exist. It’s like measuring an 8 foot board with a 12 inch ruler. Shortening the ruler doesn’t make the board smaller.
The rate at which Americans are participating in the jobs market is now 63.5 percent. More than one-third of Americans qualified to work have despaired of ever finding a job under Obama. That’s the highest number of Americans who have sat on the sidelines rather than look for work since 1981. For over a year the workforce participation rates have plunged, coinciding with expiring unemployment benefits.
And the problem is not that there is a lack of money in the system to sustain the economy. But there is a notable lack of demand. Demand comes from confidence that consumers and business feel about the health of the economy. Unlike politicians, those of us in the real world can’t spend what we don’t have. We have to manage our lives using the cash that we actually have at hand.
The problem here is not that businesses and banks don’t have money. Currently the money supply (MZM) stands at a record $11 trillion. Yet the velocity at which the money has moved through the system has plunged under Obama. Money is sitting in accounts, not contributing to GDP growth, but rather just chasing the price of hard assets up because people who make decisions fear that the worst in the economy is yet to come.
Obamacare, Dodd-Frank, Sarbanes-Oxley, TARP, public pensions, John Corzine, Solydnra and the UAW have done a fantastic job of muddying the waters for corporate America as well as small business owners and the self-employed.
These hostile acts taken by or on behalf of Big Government have our economy idling in place.
Economic conditions are so bad that the standard tools used by economists to explain current conditions can’t measure the depth of the peoples’- or the economy’s- depression. Jimmy Carter had the Misery Index. People, meet the President of the United States: Barack Hussien Obama.
The Obama Index is the new index for measuring our despair.
I can’t tolerate obamanomics but i’ll say this. there are structural issues out there. he should have as well as others addressed them. the incentives are to not hire. period. all the shuffling around of money is meaningless. why hire? does it move up a stock price? is demand there? why not manufacture overseas. its cheaper. its whats happening. these are the issues. not how much money is in the system.
They will end up calling it the BUSH INDEX.
Only Obama could preside over an economy with so much money that has produced so little return as our economy has since January 2009.
Never in the annals of human history have so many dollars done so little for so many.
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Yes, obama had alot of money to fritter away. Fact is, he only used it to appease his donors and cronies. Obama makes Carter look like Ebenezer Scrooge.
Very interesting source, but that inflation index is dated April 2011, and I don’t think is being updated- I might be wrong abvout that. Still a very interesting site. Thanks.
“As a Federally Funded Community Organizer his financial management has been defined as spending every dollar he has been given. Failure to do so means less money in the next gift from the Federal Government.”
Actually I think the “real” unemployment rate is 14.7%, not 14.2%.
I'm not lifting a finger (either on consumption beyond the minimum or on getting a job again) till Zer0 is gone.
Did someone say “unprecedented?”
The most “unprecedented” pRESIDENT in history.
Take the Jimmuh Carter misery index and raise it to the 3rd power.
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