February 9, 2012, Obama lies continue, Economy and jobs, Diversions cloud true picture, Most people are worse off, Deficit soars
“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011
“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984″
“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”...George Orwell, “1984″
Lies, Lies and more Obama Lies.
It’s the economy again stupid.
If Obama has improved economic conditions, you wouldn’t know it in NC, or most other states for that matter.
I have not noticed people in the streets rejoicing.
Let’s begin with gas prices, which affect the price of almost all other goods. Gas prices have risen again in NC and Obama just recently pandered to his core support, the far left, and said no to the Canadian pipeline.
From Citizen Wells September 21, 2011.
“One of the biggest, if not biggest drains on the economy, one exacerbated by Obama and his cronies, is gasoline prices. This affects the cost of everything and is killing our economy. The left are so concerned about theoretical environmental damage and emulating Europeans that they disregard the plight of average Americans. Below is a chart showing the rise in fuel prices during the Obama reign.”
From Investors Business Daily February 8, 2012.
“The American public’s dependence on the federal government shot up 23% in just two years under President Obama, with 67 million now relying on some federal program, according to a newly released study by the Heritage Foundation.
The conservative think tank’s annual Index of Dependence on Government tracks money spent on housing, health, welfare, education subsidies and other federal programs that were “traditionally provided to needy people by local organizations and families.”
The increase under Obama is the biggest two-year jump since Jimmy Carter was president, the data show.”
From ABC News February 7, 2012.
“Corporate Profits Aren’t What They Seem”
“As companies close their books on the final three months of last year, the big ones that make up the Standard & Poor’s 500 stock index appear likely to earn about $230 billion. That would be $12.6 billion more than a year earlier.
But the increase, 5.8 percent, is less than half the speed at which quarterly profits grew the first nine months of 2011. In the average quarter since the beginning of 2010, earnings have grown five times as fast.
Analysts expect profit growth to accelerate later this year. But so far, almost all the growth comes from two companies, one of them among America’s most favorite, the other among its most hated — Apple and the bailed-out insurance company AIG.
Take away those two companies and profits for the remaining 498 are expected to grow a measly 1.1 percent, according to FactSet, a provider of financial data.”
“The immediate future looks about the same. For this quarter, which ends March 31, profits for the S&P 500 are expected to be up about 1 percent from the year before. And that’s with Apple and AIG thrown in.
“Were the economy to sustain a shock, this makes us more vulnerable,” says Barry Knapp, chief U.S. stock strategist at Barclays Capital.
In a report Thursday highlighting “unusually weak” results so far, Goldman Sachs strategist David Kostin noted that stock analysts have been cutting their estimates for what S&P companies will make for all of 2012.”
From Citizen Wells December 4, 2011.
“data released Thursday by the Employment Security Commission of North Carolina show that Guilford appears on it’s way to a third consecutive year with annual jobless rates in double digits.
Economists say that likely hasn’t happened since the Great Depression.
“I suspect we would have to go back to the 1930′s (to find that),” said Don Jud, professor emeritus at UNCG’s Bryan School of Business and Economics.”
Latest NC unemployment data.
“The unemployment rate, derived from a separate survey of households, was forecast to hold at 9 percent. The decrease in the jobless rate reflected a 278,000 gain in employment at the same time 315,000 Americans left the labor force.
“While the rate is certainly a very favorable rate, I would highlight that a lot of it is because people pulled out of the workforce,” Eric Rosengren, president of the Federal Reserve Bank of Boston, said in a speech yesterday.”
“Well, Happy Holidays. They don’t do Merry Christmas in the media. But we’re back, it’s done, they got the headline: “Unemployment, 8.6%!” Now, the truth of the matter is — and Bloomberg News even points out that the only way — it’s a corrupt number. It is a corrupt number. Folks, the number of people who have quit looking for work in the last few weeks is 315,000. Those are the people have thrown up their hands after 99 weeks or more of being unemployed; and they’ve said, “I’m quitting. I’m not looking.” So they’re not counted. Therefore, the universe of jobs available in the country is down by 315,000. That is the labor force participation rate. The labor force participation rate is a meager 64%. It fell to 64% from 64.2%. So the 0.2% drop equals 315,000 people leaving the workforce.
That means there are 315,000 fewer jobs to have, so the universe of jobs has been steadily shrinking. What was the number of jobs created? It’s 120,000 jobs. It’s 120, 126,000, whatever. That’s in the ballpark. That number of jobs created can lower unemployment rate 0.4%, almost one half of a percent? Creating 120,000 new jobs can do that? That alone tells us how small the labor force participation rate is. That tells us how small the universe of available jobs in the country is, when creating 120,000 — and we still have, don’t forget, over 400,000 applications for unemployment compensation reported yesterday. So just 120,000 new jobs can lower the unemployment rate almost a half a point. That’s not possible without that 315,000 figure, the 315,000 people who have just walked away.”
“So 8.5% unemployment, millions of unemployed people, millions of jobs lost, millions of people on government benefits because they can’t find jobs — and this is the progress we have, this is what we have to show for trillions of dollars in deficit spending. Trillions of dollars! The unemployment rate is still higher than when Obama took office. The media is reporting, “The unemployment rate lower than it’s been in three years!” They don’t tell you lower than since Obama was inaugurated, but that’s the truth: $5 trillion in deficit later, we have an 8.5% unemployment rate. That’s it? This is what we’re supposed to party down over? And of course we have to provide the perspective here because few others will.
So we’ve got $6 trillion in new deficits. We ignore the millions who have dropped out of the workforce, we ignore all those who are holding part time rather than full-time jobs, and the best Obama can come with — the best the Democrats can come up with, the best the media can come up with — is 8.5%, and we’re supposed to celebrate today. How much have these jobs cost? Morning news reports this is a good picture. There are six million fewer jobs today than there were in 2008, folks! There are six million fewer jobs available in this country than there were three years ago. The unemployment rate is 15.2% when you include those who have dropped out and those who want full-time jobs but have to take part-time jobs. That’s the latest figure. So the Obama plan: Shrink the workforce, expand the welfare state, and then claim economic progress. Then slash the military, take that money and subsidize public sector employees who vote reliably Democrat, like NEA members.”
From News Max February 3, 2012.