Didn't BANKS make BILLIONS in PROFITS last quarter?
Maybe they could help out.
The articles are so deceptive, insincere, and insulting they really bother me. Explains why I'm Xing out a lot of the second section these days. I'm tired of being lied to about the economy.
"the jobless rate will keep rising until at least next summer"
Another WHOLE YEAR!?
Then there IS NO RECOVERY no matter WHAT THEY SAY!!!
"Labor market shows signs of slow recovery; Wary firms still aren’t hiring" by Martin Crutsinger, Associated Press | September 4, 2009
WASHINGTON - New claims for jobless aid fell less than expected last week, and the number of people continuing to receive unemployment benefits rose - further signs that any economic recovery will be hindered by a weak job market and flat incomes.
Most economists think the recession is over, but they say the jobless rate will keep rising until at least next summer as the economy struggles to mount a sustained recovery. That means household incomes will remain depressed and consumer spending, which accounts for 70 percent of the economy, will continue to lag.
I'm tired of being insulted. You?
You SEE the POINT, right? The economy was ON the VERGE of RECOVERY until YOU UNEMPLOYED PEOPLE DIDN'T DO YOUR PART by SPENDING what you DO NOT HAVE!!!!
Damn you, 'murkns! After the geniuses who destroyed this economy on purpose for you worked so hard to set up a recovery! And YOU BLEW IT, 'murkn!
“Firms are still not hiring, and that reflects deep pessimism about the sustainability of the economic recovery once government stimulus programs wear off,’’ said Sal Guatieri, senior economist at BMO Capital Markets. “The lack of job creation remains a big headwind for cash-starved and credit-constrained consumers.’’
Then it WASN'T a STIMULUS at all!!! It was a SPENDING BILL of PET PROJECTS and INTERESTS!
And WHERE DID those TRILLIONS of LOAN LIQUIDITY the Fed injected(?) into the economy go, anyway?
The Labor Department said the number of laid-off workers applying for benefits dipped to 570,000 from an upwardly revised 574,000 the previous week. That was a smaller improvement than economists had expected.
I don't believe government anymore because they are always revising and relying!
The number of Americans continuing to receive benefits jumped to 6.23 million.... a troubling reminder of the difficulty people are having finding jobs. The recession, which began in December 2007, has eliminated 6.7 million jobs.
Well, 6.9 now, but whose counting. And whose noticing that the MSM didn't tell us the recession had begun for ten months -- but now are prematurely declaring an end to the Grand Depression?
That toll is expected to grow today, when the government reports the unemployment rate for August. Economists predict the jobless rate, now at 9.4 percent, will rise to 9.5 percent, with 225,000 net job losses in August.
It went to 9.7.
Guatieri and other analysts said job losses for August might turn out even larger because of the weakness in the unemployment claims figures....
Good call, guy.
Stocks gained after a four-day slide, but investors refrained from making big moves ahead of today’s report on unemployment. The Dow Jones industrial average added nearly 64 points, and broader indexes also rose.
In another report yesterday, a key gauge of activity in service industries, which account for about 80 percent of US economic activity, edged up....
Yup, so everything is great. Sigh!
--more--"
Related: Slow Saturday Special: U.S. Consumers Killed Economic Recovery
