Skip to comments.Obama Talks Up Rosy Jobs Numbers and ‘Economic Patriotism’
Posted on 07/03/2014 1:20:47 PM PDT by Nachum
President Obama made an unscheduled trip to a D.C.-based tech start-up to cheer about the rosy jobs numbers released this morning and promote his economic strategy. We have made enormous strides, thanks to the incredible hard work of the American people and American businesses that have been out there competing, getting smarter, getting more effective. And its making a difference all across the country, Obama told workers at 1776, which the White House describes as a global hub to help start-up companies. The government reported today that 288,000 jobs were created last month and that the unemployment rate dropped to 6.1%
(Excerpt) Read more at abcnews.go.com ...
The list, Ping
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The Most Muted person in the world Campaigning Again
The Democrats two primary support groups are prospering like never before.
The Entitlement Army is bigger than ever.
The Crony Capitalists are richer than ever.
Life IS good for them.
All those part time summer jobs will end in September. Then what?
. . . that nobody built."
Justice would be for him to get tongue cancer and have his tongue fall right out of his lying mouth.
Rosy? Less full time jobs, more part time jobs, more defections from the job force. Not my definition of rosy. Lousy, perhaps. If there are more jobs, it is because more people who are working are trading one decent full-time job for two (or more) scraping-by jobs. The boy genius is so stupid that he his crowing over terrible economic news, and he thinks people are buying it.
I would be willing to bet that the increase in government jobs exceeded 13,000, meaning that we actually lost full-time private-sector jobs.
Garbage, twaddle, crap.
and 300k go on unemployment every week
If we get another quarter of negative growth we are in RECESSION.
That won't happen. They just got finished readjusting the numbers to make sure that doesn't happen. Q1 numbers were revised from -1.7% to -2.9% to cram all the loss into one quarter. Now all they need to do is show any growth at all in Q2 to claim there is no recession. Here's how it works:
Q1 | -1.7%
Q2 | -1.1%
Total | -2.8%
Two consecutive quarters of decline = Recession
Q1 | -2.9%
Q2 | +0.1%
Total | -2.8%
One quarter of decline and one quarter of growth = NO Recession
“President Obama made an unscheduled trip to a D.C.-based tech start-up to cheer about the rosy jobs numbers released this morning and promote his economic strategy”
Death knell to that company. 6 years and Obama hasn’t supported a successful company.
Dow jumped 17,000 today. Watch it tank in response next week.
And that’s if the world plays nice between now and Monday.
The DOW has as much a chance of tanking as does the price of beef.
HE LIES! AS USUAL.
About Fast and Furious..HE LIES!
About his Birth Cert .HE LIES!
About Solindra...HE LIES!
About the IRS... HE LIES!
About Bengazi...HE LIES!
About the VA... HE LIES!
About domestic spying...HE LIES!
About Global Warming HE LIES!
About Healthcare HE LIES!
About Illegal Immigration HE LIES!
About gun control HE LIES!
About the EPA HE LIES!
About Bowe Bergadahl HE LIES!
About anything About everything...HE LIES
Why do yoo say dat?
Up is down, down is up, left is right, right is left...welcome to Soviet-style propaganda. Some of us ain’t buyin’. To the gulags with us!
“rosy job numbers”
Last month, millions of young people graduated from high school and college and went looking for jobs, only to find that only 288,000 new jobs were available for them, most of them part time.
The new graduates also had the problem of having to compete with the many long-term unemployed graduates from previous Obama years who still haven’t found jobs.
Expect to see an increasing number of headlines reporting, ‘’More Young Adults Being Supported by Their Parents.’’
Because the Fed continues to dump $80 billion per month of newly invented money into the US Treasury. The same forces that are driving up stock prices (i.e. the devaluation of the dollar) are also driving up food prices, gas prices, etc. And on top of that, we have a massive trade deficit which means that dollars flow out of this country. And since the current cadre of Bolsheviks running this country make it nearly impossible for anyone outside of the US to invest in US start-ups, the only place those dollars can go is into the stock market. And thanks to the internet, it is now so much easier for anyone in the world holding on to dollars to invest in the US Stock market. And now you know the secret of the stock market rise during the Clinton presidency. The internet increases the number of buyers, thus shifting demand upward.
a sort of economic patriotism.
This is the guy guy who said Bush was unpatriotic for adding $4 trillion to the debt.
Yes, I thought you were talking primarily about the Q.E. Eternal Infinity Enrichment Etc. Etc. project...
Have never trusted the stock market in my life and am not about to now as the rally/riot ramps itself up.
I have to figure that once all the false confidence is finally shaken the bottom will fall out like never before.
I appreciate your thoughts, thanks much.
The thing to keep in mind is that the price of a particular stock has nothing at all to do with the economy or the profitability of that company, and has everything to do with the popularity of that particular stock. It’s all strictly supply and demand. At some point, there will be an adjustment. But for the long term, it is the best deal going.
That’s a really clear-eyed way of looking at it.
And again, I appreciate it.
Still, it seems to me what we are saying is that we are not investing at all, but rather placing bets on or against (as the book says) extraordinary popular delusions and the madness of crowds.
I don’t have the nerve for it, nor the background.
But your description puts into words for me what I’ve seen while watching and reading the financial news.
Thanks once more.
And 6 months ago, Obama said that ending the extension for long term unemployment would kill the economy.
welcome to the third world country known as the USA
ABC, NBC, CBS, The AP = Democrat Rapid Response Team
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