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Obama Talks Up Rosy Jobs Numbers and ‘Economic Patriotism’
ABC News ^ | 7/3/14 | Jon Garcia

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 it’s 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 ...


TOPICS: News/Current Events
KEYWORDS: economic; jobs; numbers; obama
More Government Jobs.
1 posted on 07/03/2014 1:20:48 PM PDT by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


2 posted on 07/03/2014 1:21:11 PM PDT by Nachum (Obamacare: It's. The. Flaw.)
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To: Nachum

The Most Muted person in the world Campaigning Again


3 posted on 07/03/2014 1:23:08 PM PDT by molson209 (Blank)
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To: Nachum

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.


4 posted on 07/03/2014 1:23:19 PM PDT by nascarnation (Toxic Baraq Syndrome: hopefully infecting a Dem candidate near you)
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To: Nachum

All those part time summer jobs will end in September. Then what?


5 posted on 07/03/2014 1:24:29 PM PDT by formosa
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To: Nachum
“We have made enormous strides, thanks to the incredible hard work of the American people and American businesses . . .

. . . that nobody built."

Justice would be for him to get tongue cancer and have his tongue fall right out of his lying mouth.

6 posted on 07/03/2014 1:25:45 PM PDT by Maceman
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To: Nachum

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.


7 posted on 07/03/2014 1:26:02 PM PDT by fhayek
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To: Nachum
New jobs - 288,000
New part-time jobs - 275,000
New full-time jobs - 13,000

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.

8 posted on 07/03/2014 1:27:29 PM PDT by Hoodat (Proverbs 29:2)
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To: Nachum
ABC News uncritically quoting Obama.

Garbage, twaddle, crap.

9 posted on 07/03/2014 1:27:31 PM PDT by skeeter
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To: Hoodat
Funny you should say that...

 

Hiring Pickup Aided By Rare Source of Strength: Governments

Record Number of Americans Not in Labor Force in June.........-Participation Rate Remains At 35 Year Lows

7.5M Americans Working Part Time, But Not by Choice

10 posted on 07/03/2014 1:29:12 PM PDT by Nachum (Obamacare: It's. The. Flaw.)
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Comment #11 Removed by Moderator

To: Hoodat

and 300k go on unemployment every week


12 posted on 07/03/2014 1:29:44 PM PDT by molson209 (Blank)
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To: Nachum
He's trying to hype it up to keep another negative quarter from occurring (2.9% NEGATIVE growth last quarter).

If we get another quarter of negative growth we are in RECESSION.

13 posted on 07/03/2014 1:35:29 PM PDT by what's up
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To: what's up
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:

Actual numbers:
Q1 | -1.7%
Q2 | -1.1%
Total | -2.8%

Two consecutive quarters of decline = Recession


Modified Numbers:
Q1 | -2.9%
Q2 | +0.1%
Total | -2.8%

One quarter of decline and one quarter of growth = NO Recession

14 posted on 07/03/2014 1:42:05 PM PDT by Hoodat (Proverbs 29:2)
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To: Hoodat

“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.


15 posted on 07/03/2014 1:46:39 PM PDT by EQAndyBuzz (Once a politician has determined to do anything to keep his seat, he no longer deserves it.)
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To: Nachum

Dow jumped 17,000 today. Watch it tank in response next week.

And that’s if the world plays nice between now and Monday.


16 posted on 07/03/2014 1:50:35 PM PDT by Jedidah
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To: Jedidah

The DOW has as much a chance of tanking as does the price of beef.


17 posted on 07/03/2014 1:57:12 PM PDT by Hoodat (Proverbs 29:2)
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To: Nachum

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


18 posted on 07/03/2014 2:00:25 PM PDT by GoldenPup
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To: Hoodat
as much a chance of tanking as does the price of beef

Why do yoo say dat?

19 posted on 07/03/2014 2:07:46 PM PDT by Fightin Whitey
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To: Nachum

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!


20 posted on 07/03/2014 2:08:31 PM PDT by miss marmelstein (Richard Lives Yet!)
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To: Nachum

21 posted on 07/03/2014 2:08:57 PM PDT by 4Liberty (Optimal institutions - optimal economy.)
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To: nascarnation

22 posted on 07/03/2014 2:10:37 PM PDT by 4Liberty (Optimal institutions - optimal economy.)
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To: Maceman

23 posted on 07/03/2014 2:13:12 PM PDT by 4Liberty (Optimal institutions - optimal economy.)
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To: Nachum

“rosy job numbers”

???


24 posted on 07/03/2014 2:13:44 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: Nachum

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.’’


25 posted on 07/03/2014 2:14:46 PM PDT by Bluestocking
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To: Fightin Whitey

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.


26 posted on 07/03/2014 2:21:40 PM PDT by Hoodat (Proverbs 29:2)
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To: Nachum

“a sort of economic patriotism.”

This is the guy guy who said Bush was unpatriotic for adding $4 trillion to the debt.


27 posted on 07/03/2014 2:33:42 PM PDT by running_dog_lackey
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To: Hoodat

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.


28 posted on 07/03/2014 2:35:56 PM PDT by Fightin Whitey
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To: Fightin Whitey

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.


29 posted on 07/03/2014 2:43:10 PM PDT by Hoodat (Proverbs 29:2)
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To: Hoodat

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.


30 posted on 07/03/2014 5:19:08 PM PDT by Fightin Whitey
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To: Nachum

And 6 months ago, Obama said that ending the extension for long term unemployment would kill the economy.


31 posted on 07/03/2014 6:22:36 PM PDT by griswold3 (I was born here in America. I will die here in a third world country. Obama succeeded.)
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To: Nachum

welcome to the third world country known as the USA


32 posted on 07/05/2014 5:19:59 PM PDT by dalebert
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To: Nachum
Black Privilege!


33 posted on 07/06/2014 12:22:17 PM PDT by TexasCajun
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To: TexasCajun

ABC, NBC, CBS, The AP = Democrat Rapid Response Team


34 posted on 07/06/2014 12:57:32 PM PDT by Nachum (Obamacare: It's. The. Flaw.)
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To: Hoodat; what's up
Great example hoodat!

In addition there have been changes to the 'official' definition of recession:

The NBER which determines the beginning and ending of a recession no longer uses the classic 2 quarter definition.

Per the NBER:

"The committee's procedure for identifying turning points differs from the two-quarter rule in a number of ways.

First, we do not identify economic activity solely with real GDP and real GDI, but use a range of other indicators as well.

Second, we place considerable emphasis on monthly indicators in arriving at a monthly chronology.

Third, we consider the depth of the decline in economic activity. Recall that our definition includes the phrase, "a significant decline in activity."

Fourth, in examining the behavior of domestic production, we consider not only the conventional product-side GDP estimates, but also the conceptually equivalent income-side GDI estimates. The differences between these two sets of estimates were particularly evident in the recessions of 2001 and 2007-2009."

The new definition contains a lot of fuzzy metrics which are open to political manipulation.
35 posted on 07/07/2014 7:29:58 AM PDT by khelus
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