If you have a job, hold on tight. Not only did the unemployment rate hit a 14-year high of 6.5 percent in October, many experts think it could reach 8 percent or higher next year. This year already has seen 1.2 million jobs disappear, more than half in the past three months. In terms of jobs lost, this recession is beginning to make the post-Sept. 11 period look like a mild funk. At least Wall Street is in a better mood today.
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37 Comments
You can bet our current resident of the WH will just sit back and watch for the next 2 months. As far as he’s concerned, his job is done. But then he’s been a lame duck for quite some time, so it isn’t like this is anything new.
Except for announcing that he was backing McCain, just where has Cheney been and what has he been doing? Finding a friendly-to-him country that will keep him safe and sound?
” just where has Cheney been and what has he been doing?”
Ugh, making up Bush’s pardon list?
After bush and republicans, Precious and Few are the jobs America haas.
“At least Wall Street is in a better mood today.”
‘Was’ in a good mood. Until Obama talked. They weren’t impressed either.
Up 248 points okob – better than it was this morning. And a heck of a lot better than it does when Bush opens his moth – then the market tanks 600 points or more.
And the news media keep on spreading their doom and gloom, telling how bad things are, so what else is new. MSM should be spreading how much we have, not what we are losing and might lose. MSM should help keep confidence up not down. Of course it want happen. Even the stock market does not always listen or read about Doom an gloom. Don’t depend on the Messiah to save us only ourselves can save ourselves. These cyles happen thru out life. You can’t blame it all on Bush.
Ben,
In the final hour trading, the Dow was up 57.51, or 0.66 percent, at 8,753.30 after being up more than 250 before Obama spoke.
http://www.breitbart.com/article.php?id=D94AAFKG0&show_article=1
Not according to this at the close – up 248.02 to 8943.81
http://money.cnn.com/
Sorry Ben I didn’t see the close just saw the drop right after he talked. I’ll suspend judgement. I hope the economy improves. It doesn’t look good for the near future.
He wouldn’t answer directly the question about raising taxes. This does make me apprehensive.
Seems whenever GWB talks the DOW drops nearly a thousand points.
Sorry Ben, my post was obviously not from the close.
I looked at the unemployment rates for 10 comparable countries and only Germany, France, and Italy report higer rates, but over the last 10 years they have been lowering steadily. US jobless rate in 2000 when “W” took over was 4% now it is 50%+ greater at 6.5%. The Ozzies and Canucks (most reasonalbe comparisons)are doing well having dropped their unemployent rates by about 50% to the low 4-5% range over the same time span and in both places retail sales are up slightly, employmnet is growing, car sales are up and permits for construction/home building are steady or up, indicating the availablility of credit in both marketplaces. But then they have very staid and sound banking systems, rated best by the IMF. Bear in mind both places are 1/10th the size of the US economy and probably easier to manage, but it looks like not eveyone is headed in the wrong direction. We’re almost unique in our situation but if Amercan sneezes the rest of the world catches and economic cold so the international numbers could change, after an appropriate lag time.
America’s not only sneezing but has a bad case of the economic flu, just hope it isn’t fatal. Not sure she was strong enough to withstand 8 yrs of republican control( or more fitting, lack of control).
Predestined
Posted November 7, 2008 at 1:51 pm | Permalink
Except for announcing that he was backing McCain, just where has Cheney been and what has he been doing? Finding a friendly-to-him country that will keep him safe and sound?
–
It was reported today that Dick Cheney is scheduled to have his knees x-rayed at a military hospital for arthritis. With millions of Americans without health insurance and who has major health issues, I’m just so relieved that Dick Cheney will get the best health care available at no cost to him for his arthritic knees.
I’ll tell him one thing – if he’d lose some of that flabber gut, maybe his knees wouldn’t be so arthritic.
george – you’re right – we cannot blame it all on George W. Bush because he had alot of help from fellow Republicans who did nothing but spend, spend, spend.
okobserver
Posted November 7, 2008 at 3:17 pm | Permalink
Sorry Ben I didn’t see the close just saw the drop right after he talked. I’ll suspend judgement. I hope the economy improves. It doesn’t look good for the near future.
He wouldn’t answer directly the question about raising taxes. This does make me apprehensive.
–
Okie – first you rant and rave because Obama talked about raising taxes and now you rant and rave because he is not talking about raising taxes?
Just exactly what do you want from the guy – a personal guarantee that only YOUR taxes will be cut and never raised?
Paying taxes will become more patriotic than ever, the fate of our country and world position depends on our remaining a viable economic powerhouse.
The traitors will be thinking only of me, me, me, as they have for the last 8 yrs.
A good friend of mine, told me a couple of days ago, that even though he was old enough to retire and immediately start drawing S.S. he preferred to work. And, since he never served in the military, he said by working and paying taxes rather than by drawing money, he felt he was giving back something to society, and future generations,who he felt our generation had given a thorough screwing.
Mom: I gotta say this, send Cheney to Canada. They will accept him as a refugee no doubt, because of the real possibility of jail time if he returns home. Once accepted he will automatically be given health care for his knee, heart conditions, etc., given a stipend to exist until he gets a job, (they’re kind to refugees I hearm though time limts are imposed) and it won’t cost us a cent! I’d love to hear him be told that he’s not a good candidate for knee surgery because he’s overweight and the procedure would be a waste of taxpayer money. Then watch him undergoing a regimen of sweaty excercise and therapy/diet first for several weeks or months and he won’t be a danger to anyone, guns are tougher to get there. Love it!.
I don’t think so sursum. They would extradite him back.
“Music sweet music,
I wish I could caress, caress, caress.
Manic Depression’s a frustrating mess.
Well, I think I’ll go turn myself off an’ go on down.”
Dick Cheney has 2 dui convictions… he cannot legally get into Canada
(he could get special permission, maybe)
Better hope if you lose your job that you don’t get sick…otherwise you’ll be sh*t out of luck..
Spirit One still has their ridiculous sign up claiming that Obama is a Muslim and the Bible forbids him to be president. I am calling the church everyday and quoting bible verses until they take it down.
I would love it if some of us could get together and picket during their services on Sunday.
Mary – how does that Godless heretical cult react to your calls.
I leave my name and number and encourage them to call me, but no one calls me back. Of course they don’t answer the phones in person..I imagine I’m not the only one calling to protest.
I hope people are blowing up their phones so that they have a million calls to wade through everyday.
HEY RHONDA:
Seems like the Eagle employees should really be concerned about losing their jobs. We all know the Eagle is losing money and can’t be sold. Wouldn’t it be a hoot if McLatchy pulled the plug on the Eagle?
For months I have writing blog entries ragging the cowardly reporters at the Eagle that they were afraid to do their job to epxose corruption in Wichita because they are afraid to lose their jobs. Is every one is looking for a cushy job with a local government agency like Dale Goter?
I posted a link to the website for Advertising Age of a 3 minute video with Google’s CEO explaining why investigative reporting at newspapers is dying. The problem is even worse at the Eagle which has the jounralistic quality of a junior high school newspaper due to its focus on features writing & name dropping of the psuedo wannabee celebrities in Wichita. There are way too many married couples in the newsroom who can afford to lose their jobs. It does not help that the Eagle is being run by Pam & Sherry.
But looking on the bright side, maybe Mclatchy will get even more desperate & promote Phil “Brown Noser” Brownlee and make you opinion editor. We can all use a laugh every morning. Your recent editorial about the consequences of the partisan district court elections was hilarious given its studpity & arrogance. With a little courage, the Eagle could have taken out 3-4 pro life GOP judges 6 months ago with 12 hours of investigative reporting of documented corruption. It ws so much easier to let Jeff Syrios publish his pompous self-righteous crap about the law.
http://adage.com/brightcove/single.php?bcpid=1370868150&bctid=1701249409
Tell Carrie I still have a really really big scoop for her. kiakahahaha@yahoo.com
Where’s Paulie? I would expect him to be totally bonkers knowing we now have a president elect who was not born in the USA, is a terrorist Muslim, and a baby killer. He may be so beyond control he ate his own brain, what little there is of it.
JMWalker,
LOL!
Poor little econ has probably been tightly tucked in the fetal position since Tues night, when McCain was projected to lose Pennsylvania.
It is amazing how many nics have disappeared. Is Obama that strong, or are the cons that weak?
Where are: boxlock, regular, max, am_way, am, ???
Or, has democracy set us free???
Oops, forgot Paul Rozell!!!
Paul is very, very forgettable…
Bill McKean?
You are now obsolete. Please check yourself into a gently used store.
Paul F Rosell?
We won’t be seeing him about again at least for a year.
He failed UTTERLY on his mission here. His financing from his masters pulled, he likely no longer even has internet access.
Is this Bill McKean guy the one running for sheriff or something?
How’d that work out for ya, Bill?
george is right you know, fellas. Doom and Gloom is a slippery slope. Where does the money need to be in our economy? Small businesses, and corporations that supply jobs. It’ll take smart budgeting to turn this thing around. Part of the ill effects of our sinking economy is in low confidence. The more the main stream media reports their doom and gloom, and the more that people believe it, then it will materialize, because people are going to worry about job security, a tail spinning market, and a bleak future where they need to cut spending so dramatically, that we just hurt the economy even more. The plain truth of this matter is that people truly do exhibit heard behavior, pack mentality, whatever you want to call it. So I suggest to everyone in here who is well politicized to be a role model in these tough economic times, and exude your knowledge to friends and family who mention this recession nonsense, and explain to them that the main stream media is simply doing there job by sensationalizing everything to earn record viewer ratings to rake in the money. I think we came together as a country and elected the best choice of candidates we were given. Obama has a lot of positive things to prove, and I have no doubt that he will prove them to himself with support of the nation behind him. But the government can only do so much, individual responsibility, smart budgeting, self control, and a positive attitude will save this country more than anything. It takes a well rounded person of good character to follow those virtues, but in doing so, creates a lot of admiration for such individuals, and plants the seeds for which other people will base their values. The world is what we make it for the most part, and if we continue to envision dark times ahead, then that is surely what we will find.
I once knew two men, great friends they were. Both very poor men. One man thought with his heart, the other man felt with his brain. I found them both where they frequently are, an old smokey bar drinking bourbon and coke. I told the man with the heart, to punch the man with the brain square on his nose, and ask him, “how did that feel”. With blood pouring from the Brainy man’s nose, he asked him, “well, how do ya feel about that” He looked in fear and shock, and said “I don’t know”. I told the the poor guy with his nose bleeding, “that’s your problem sir, your thinking about feelings before you allow yourself to feel them. I told him, if you want to know what I’m talking about, then punch the man with the heart, in his stomach, and ask him how do you feel. The man with the heart, lurched forward in pain holding his stomach and gasping for air, he asked him, “how do ya feel about that” the man with the heart, took one fiery look at him, and punched him in the nose. The man with the brain, shirt already bloody, flew off the handle and an exhausting brawl broke out between the two, and ended outside in the snowy street, I sat down next to the two in blood speckled snow and foggy labored breathing. I said to the guy with the heart, that’s your problem sir, you think with your heart before your brain knows what your feeling.
Heheheh. HAHAHAHAHAHAHA
“You are now obsolete. Please check yourself into a gently used store.”
Now that’s funny. I dont care who ya are.
And Steven, I noticed the same, about disappearing nics. Cowards who wont show their faces here and take their medicine?
Or did someone get banned?
Enquiring minds want to know!
It’s a good time to be self employed. I’d rather eat a bowl of dirt than go through the process finding a “job”.
I think they’ve ‘gone to ground’, probably busy fortifying their bunkers.
I’m guessing they’re too busy crying in their bibles to post. There’s a whole lot of bawwwwwwwing and butthurt going on, lol.