The Bureau of Labor Statistics has released their jobs report, and in June the US economy added only 80,000 new jobs, while unemployment remained at 8.2%.
The right wing blogs are having a party at this news, openly celebrating the bad economy.
What a pathetic state the wingnut blogosphere has devolved into; their hatred of President Obama has them openly wishing for America to fail.
2 |
b_sharp Fri, Jul 6, 2012 10:34:27am |
Just goes to show, any news, whether good or bad, can be spun into cheap garments for the ignorant.
| 4 |
Sol Berdinowitz Fri, Jul 6, 2012 10:34:54am |
I am still looking for the quote I saw earlier on newsmax that berating Obama because “the economic recovery has stalled for a third time”
Read that again. You are then admitting that here is in fact a recovery.
No thanks to the GOP.
| 6 |
lawhawk Fri, Jul 6, 2012 10:35:29am |
It’s a mixed bag, as ADP came out ahead of expectations - the ADP survey and the Labor Department measures don’t completely overlap.
And the economy here is getting battered from events beyond the control of the President, the Fed, or Congress - think the Eurozone mess, debt/credit worries in Japan, and slowing economies in places like China.
All of that has an effect on job growth here, but it’s just so much easier to blame the guy in the White House, or to give the same credit when the economy improves.
| 7 |
Our Precious Bodily Fluids Fri, Jul 6, 2012 10:40:28am |
Obliquely related, from the No Shit Sherlock Institute:
Federal Judge Richard Posner: The GOP Has Made Me Less Conservative
Judge Richard Posner, a conservative on the 7th U.S. Circuit Court of Appeals in Chicago, has long been one of the nation’s most respected and admired legal thinkers on the right. But in an interview with NPR, he expressed exasperation at the modern Republican Party, and confessed that he has become “less conservative” as a result.
Posner expressed admiration for President Ronald Reagan and the economist Milton Friedman, two pillars of conservatism. But over the past 10 years, Posner said, “there’s been a real deterioration in conservative thinking. And that has to lead people to re-examine and modify their thinking.”
“I’ve become less conservative since the Republican Party started becoming goofy,” he said.
| 8 |
Gus Fri, Jul 6, 2012 10:41:31am |
The 2 billion dollars that JP Morgan gambled on and lost could have created 66,666 jobs at 30,000/year for one year. The banks continue to gamble and continue to be stringent on lending. The don’t give it out construction loans as easily as they once did and continue to reap in record profits while get zero percent loans (as required) from the Fed. Fortune 500 companies continue to make profits never seen in all of America’s financial history. The money is there but it is confined to an inner circle of financial products (money making money) and overpaid CEOs, reality and pop stars and sports celebrities.
| 9 |
Bulworth Fri, Jul 6, 2012 10:46:48am |
Another impressive jobs report thanks to the ‘jobs’ focus by our newly elected teabaggers. //
| 10 |
Lidane Fri, Jul 6, 2012 10:50:06am |
re: #7 Temporarily Embarrassed Millionaire
“I’ve become less conservative since the Republican Party started becoming goofy,” he said.
Goofy is putting it mildly. They’ve gone completely batshit insane.
| 11 |
Robert O. Fri, Jul 6, 2012 10:56:59am |
Considering (i) the depth of economic crisis in Europe (austerity has worked so well!), (ii) China slowing down much more than expected (its real estate bubble may still burst spectacularly), (iii) Japan still sleepwalking through its lost quarter-century, and (iv) growth has basically evaporated from former high-growth economies like India and Brazil, it is more of a surprise that the US economy has held up. This is a something of a “perfect storm” for the global economy. It is doom and gloom nearly everywhere you look. On that basis, I will take 80,000 new jobs any day.
| 12 |
victor27 Fri, Jul 6, 2012 12:29:36pm |
re: #8 Gus
Gus, it started at $2 billion. By the time they’re finished unwinding the trades, it’ll be closer to $9 billion.
But, you know what they say: a billion here, and a billion there…
| 13 |
labman57 Fri, Jul 6, 2012 12:51:18pm |
Republican state and federal legislators feign ignorance about simple cause and effect relationships:
If you are concerned about high unemployment, then you cannot do everything in your power to induce layoffs of public employees, and then point at the resulting increase in unemployed Americans and insist that the opposition bears sole responsibility for the outcome.
| 14 |
Poiks Fri, Jul 6, 2012 2:44:28pm |
Didn’t it “devolve” to that point in November 2008? This was the situation Obama faced on day one.
| 15 |
Ming Fri, Jul 6, 2012 5:06:29pm |
The economy will continue to face many possible headwinds, from a slowdown in Europe to possible hostilities with Iran.
President Obama is working very hard to keep things on track, but the current stagnation in jobs may continue. Actually, since I think around 120,000 new jobs a month are required just to keep up with population growth, the numbers for the past three months (which I think average 78,000 new jobs per month) are not good news at all.
I hope Americans understand the CONTEXT, where we were in 2008, what happened on September 15, 2008, and what Obama has done to stabilize the economy and hopefully prepare for a better future, including near-universal healthcare within a private health insurance system. But if enough Americans aren’t interested to go beyond the slogans and sound bites, the Republicans may re-take the White House in 2012.
| 16 |
Patricia Kayden Fri, Jul 6, 2012 5:25:51pm |
Well the Repubs should celebrate. Their plan to obstruct every single thing proposed by the Kenyan Muslim socialist is working to slow down the economy/job creation.
Why anyone thinks that Romney has magical ideas on how to turn things around is beyond me. I guess his plan to not be specific or go into any details about any policies is working nicely.
The good thing is that jobs were created — although 80,000 is a lower than expected number. The economy is not shedding jobs like it did during the last months of the Bush administration.
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