Like the Titanic as it settled beneath the waves, the U.S. economy is underwater and headed for the bottom again. The jobs report today was not just “bad,” it was alarming. Unlike previous reports, the media, both written and electronic, have caught on and realize that sunny praise sung by the White House about a supposed one-tenth of a percent decline in jobless numbers is total bullshit.

The only good news for Obama is that we may actually be nearing the bottom of the 2008 Depression and the housing market may be on the cusp of turning around. But that ain’t happening in a dramatic fashion in the next five months. The numbers in the latest Bureau of Labor Statistics tells a grim story:

The civilian non-institutional population grew by 180,000 people in the last month. The term–civilian non-institutional population–refers to “persons 16 years of age and older residing in the 50 States and the District of Columbia who are not inmates of institutions (for example, penal and mental facilities, homes for the aged), and who are not on active duty in the Armed Forces.”

So you would expect the civilian labor force to increase. Right? I mean, with population growth that “180,000” number comes primarily from new 16 year olds entering the potential labor pool.

Wrong. The civilian labor force declined 342,000 since March 2012. Got that? Although Barack Obama is jumping around in his cheerleader outfit touting the news that 115,000 jobs were created in April, more than THREE TIMES that number left the labor force. Is that because they won the lottery? Is that because they earned so much money on lucrative business deals that a mass of folks decided to retire? WRONG!

No amount of lipstick will turn this pig of an economy into a bathing beauty. Since last April (2011), the number of people “no longer in the labor force” has increased by almost 2.7 million. Obama likes to thump his chest while claiming speciously that his Administration has created 4.4 million jobs in the last three years. Well Bucko, 2/3rds of that number has left the labor force in just one year. That’s not a record to run on.

What do you folks think?

Previous articleIf I were planning things… (sung to the tune of “If I Ruled the World”)
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Larry C. Johnson is a former analyst at the U.S. Central Intelligence Agency, who moved subsequently in 1989 to the U.S. Department of State, where he served four years as the deputy director for transportation security, antiterrorism assistance training, and special operations in the State Department's Office of Counterterrorism. He left government service in October 1993 and set up a consulting business. He currently is the co-owner and CEO of BERG Associates, LLC (Business Exposure Reduction Group) and is an expert in the fields of terrorism, aviation security, and crisis and risk management, and money laundering investigations. Johnson is the founder and main author of No Quarter, a weblog that addresses issues of terrorism and intelligence and politics. NoQuarterUSA was nominated as Best Political Blog of 2008.
  • Retired_from_SPOnaj

    I can’t understand why Mr. Obama doesn’t just break out the old Hope and Change campaign collateral and run the same campaign that was so successful in 2008.  I mean, he’s so popular and the economy is doing so well, why change horses in midstream?

  • TeakWoodKite

    Dow Jones VentureSource: U.S. Venture Companies Raised $6.3 Billion in First Quarter, an 18% Decline; Only IT Industry Saw Deals & Investment Increase NEW YORK, April 20, 2012–U.S.-based companies raised $6.3 billion through 717 venture capital deals during the first quarter of 2012, an 18% decline in capital and 9% decline in deals from the same period last year, according to Dow Jones VentureSource.

  • Popsmoke

    Here is why its tough to beat an incumbent president. While this is temporary relief and a false flag its going to become a sound bite…watch….

    • Popsmoke

       PS: Remember this increase in crude is not going to hit immediately…But by mid to late summer…. watch….

      • Hokma

        That will only get it under $4/gallon but it will not get down to under $3. The effects of the high gas prices are already in place and its effects are counteracting any latent economic anomoly that Obama’s people (i.e. Soros) can implement.

        I have not seen any proof, but I still believe that Soros perpetrated the financial meltdown in September, 2008 to get Obama elected.

        • April454

          “I have not seen any proof, but I still believe that Soros perpetrated the financial meltdown in September, 2008 to get Obama elected.”
          Looney tunes….
          You are worse than Popsmoke with you conspiracy theories.

          You have capsulated NoQuater to a “T” in a single sentence. “I have no proof, but I still believe in this vaste conspiracy that a single individual caused the massive global economic collapse to get Obama elected.” Larry Johnson attracts some real winners to this website.

  • David L

    Maybe the people in Ohio have finally woke up on the economy, Obongo’s campaign kickoff party at the Ohio State stadium to a less than half full crowd, just might be sending a nessage !!!  Ohio is a state that he needs to get reelected.

  • HARP2


    1.) The Obama Government has outsourced the counting of votes for
    the 2012 election. But since WHEN does the nation need to outsource a
    task as uncomplicated and straightforward as vote-counting? 

    2.) Obama outsorced the counting to a Tampa Florida company, named
    SOE, that had previously been used to administer the vote counting
    process for over 500 American jurisdictions.

    3.) But recently, SOE software has now been sold to a company named SCYTL, owned by George Soros, headquartered in Spain.

    4.) The votes will go to SCYTL, the question becomes as to WHY Must
    local votes for each precinct will be downloaded to SCYTL’s main server –
    leaving no TRACEABLE record of how many, and what votes were
    scored! Which of course means that said votes will be MERGED; and any
    discrepancies at lower levels will be IMPOSSIBLE to track.

5.) But
    wait, it gets murkier: SCYTL is shadow owned by Pere Valles, a former
    CEO of Global Net; who just HAPPENS to have been a maximum level
    contributor to the Obama Campaign in 2008. Not surprisingly, Valles is
    also has contacts with Media Matters, a communication consortium owned
    by: George Soros.

    6.) Now the bad news: according to the “Black Box” voting site, this
    centralizes one “middleman” access point for over 525 voting
    jurisdictions: (AL, AZ, CA, CO, DC, FL, KY, MI, KS, IL, IN, NC, NM, MN,
    NY, SC, TX, UT, WA. – and growing).

    • Hank DeCat

       No wonder the Obama camp thinks they can win AZ & SC.
      Duh. I knew that fraud was acting too confident — the fix is in, just like it was in the 2008 primary.

  • HARP2

    Spanish Company Will “Count” American Votes Overseas In November

    The American advocacy group Project Vote has concluded that SCYTL’s internet voting system is vulnerable to attack
    from the outside AND the inside, a situation which could result in “…an
    election that does not accurately reflect the will of the voters…” Talk
    about having a flair for understatement!

    Perhaps Obama had reason for supreme confidence when he said “after my
    election” rather than “in case of” to Russian President Medvedev a week

  • Retired_from_SPOnaj

    Well, Democrats certainly must be afraid of Obama’s economic record.  Whenever his stewardship of the economy is questions, his supporters immediately began spewing unsubstantiated superlatives and comparing Mr. Obama’s performance to what a President McCain or a President Romney “would have done.”  We really don’t know what McCain or Romeny “would have done,” but we do know what Mr. Obama has done.  We’ll see how the American voters decide in November.

    • Hank DeCat

       I keep saying it, but I’ll say it again, the official slogan for Obama 2012 is:

      Fantasy will supersede reality! Forward!

      • KenoshaMarge

        Oh damn, not unicorns again.

    • Popsmoke

       ” We really don’t know what McCain or Romeny “would have done,” but we do know what Mr. Obama has done.”

      Unfortunately this works in reverse as well…. We know what we got in Obama but Romney is an unknown…..

       If the way Romney is campaigning right now is an indication what he is going to be doing after the convention. ….Obama squeaks in….. No mandate…. but just squeaks in…..

      The debates? I call them even split….

      • Hokma

        The debates? Watch the debates in the last cycle. Obama got the nomination inspute of being a non-factor during the Democratic debates with the focus on Hillary throughout. And in the general election he was up against about the worst debater in McCain. Against Romney Obama is going to be clocked, destroyed – the man cannot speak without a teleprompter – will not even be close. The only thing that could make it closer are the liberal moderators asking rhetorical questions.

    • KenoshaMarge

      You articulated one of the things that enrages me the most.

      The “what he/she would have done” crap. No one knows what anyone would have done yet the obamamedia, obamacrats and POTUS are use the would have-might have-maybe b.s. as if it was reality.

      I used to wonder just how stupid they thought we are. Now I wonder just how stupid we are. Or how stupid those that believe this crap are.

  • HARP2

     Top General: Obama Knew About OBL’s Hideout in Abbottabad Since Summer of 2010 – Refused to Act Until May (Video)

    • Madame_deFarge

      He wanted to have more impact closer to the election.
      I can’t recall a more ugly cynicism.

      • Hokma

        or it took that long to convince him to not listen to Valerie Jarrett and Joe Biden.

  • alicewolf

    It’s high time for some custard pies to start flying.


    backtrack running out of excuses on Keystone Pipeline.
    His buddy buffet made $22, million because of the stoppage of the pipeline.
    now the new application is in and the only one standing in the way is backtrack.


    where have all the obots gone???????

    stadium half empty for backtrack’s speech

    • HARP2

      Hmmmm…….. They must have all gone to the celebration of Karl Marx birthday.

    • HARP2

       The stadium holds 20,000 and he had 8,000. Organizers expected an overflow crowd……..Oooops

      • Hank DeCat

         I read it holds 30,000 and that the Obama camp is claiming 14,000 showed up (although you can see from pictures it is no where near 14,000).

        • arabella_trefoil

          How many of those people just wanted a roof over their heads and access to a bathroom?

    • Hank DeCat

      On Althouse’s site I read this:

      Overheard from a student leaving the arena: “I just wanted to go see him once while he’s still president, before I go get drunk for Cinco de Mayo.”

      • TeakWoodKite

        Freak show exhibit?


    headbanger of the day

    guy who never had a real job says guy who ran a business, made money and governed a state , did not learn any  real lessons,0,5898001.story

    • Hokma

      The Audacity of  Dope.

      Yeh right. The founding fathers definately envisioned a commuity organizer who never worked a real job in his life as being President. How far this country has fallen.

  • foxyladi14

    Thank you Larry.

  • April454

    If you are only going to hang your hat on the unemployment record, then that is a pretty narrow. There is no real evidence that the unemployment rate actually has won or lost anyone any elections.

    However, if that is your benchmark, then if the unemployment rate gets below 8%, then good luck, as Obama will win easily. No one cares about the size of the labor market, etc. With it currently at 8.1% there is a very good chance that in the next 6 months it goes well below 8%.

    • DianaLC

      You write much as PPAA did.  Are you sure you can use the ‘we” here, as I believe PPAA was not a citizen?  In any case your reliance on the polls and the cooked figures and percentages is not impressive.

      U.S. citizens like to work.  We’ve always been known for our work ethic.  Employment is a big deal here–not so much in socialized states.  And we keep telling you, the figures you use for unemployed are not a reflection of reality but of the cooking style of the people who work for THE ONE>

      • April454

        the unemployment rate is the unemployment rate. you want to use it as the benchmark then fine. if has dropped from 10% in November 2009 to 8.1% today and will likely be below 8% by election day. it was 7.2% when Reagan faced his second election.

        401Ks are up; people are buying cars at pre-recession boom levels, person debt has fallen rapidly, house prices are increasing in some areas of the country, corporate profits are at record levels, wages and salaries are up, etc. etc.

        • HARP2

           All Barry`s bullshit won`t work this time so go peddle your bullshit somewhere else.

          • DianaLC

            Thanks Harp2, now I don’t have to stink up my fingers hitting April454’s (a.k.a. PPAA’s) reply link.

          • April454

            No sure what the national debt has to do with the country growing or not and economic conditions improving. Thank god we did not embark on a austerity program or we would be growing at European rates.
            Your chart above says it all. The U.S. is growing at a faster rate (2.2%) than all of those Western industrialized countries shown in your chart. That really says something. That says that Obama’s economic policies are working.

    • HARP2

      What lose today. He can`t even fill a stadium anymore.

      I think Julia and a few of her friends showed up though.

      • Hank DeCat

         He forgot to have the free concert first & give away free beer & pizza. That’s the only way he got the crowds the last time.

        • arabella_trefoil

          I thought Obama was “the smartest person in the world.” I guess he skipped a classical education while at Columbia. He should know that the Romans used “Panem et Circenses” (Bread and Circuses) to control the crowds.

          He’s going to have to revert to free concerts and beer in order to get his mojo back. I hope he can’t find any decents bands to play at his venues, and that the beer on offer is the cheapest and worst.

      • TeakWoodKite

        I wonder why they chose to show a life cycle meme of a cartoon character?

        • Anthony_1

          It’s a “Composite Citizen”

          (notice – not a dog in sight….)

      • DianaLC

        Doesn’t he know that the college crowd (the young crowd in general) expect a NEW American Idol each year.  He’s just the old American Idol, and one who may not get a new contract.

    • Larry Johnson

       Thanks PPAA.  I knew we could count on your delusional comments for some cheap entertainment.  Your kind of partisan analysis is proof one why the dems will lose come November.  Instead of objectively taking account of what is going on, you are all about cheerleading a festering turd and touting it as a pile of chocolate mousse.

      • April454

        Why not address the points I make above, instead of this meaningless comment?

        > show me any analytical proof that the unemployment rate has made any difference in any past election. Reagan got re-elected with a high 7.2% unemployment rate?

        > nobody cares about the size of the labor force. people only look at the headline 8.1% number. There is now a very good chance it gets below 8% and close to Reagan’s 7.2%. If you are going to focus on the unemployment picture, then it will look and actually be much improved from where it has been come November.

        > you claim the economy is “tanking”. that is a pretty strong term. Other than two soft job numbers, which clearly were impacted by the change in the timing this year’s in seasonal job hiring, there is no broader proof that the economy is “tanking” as you say. Growing at the expected 2% to 2.5% is far from tanking. That is just average growth.

  • April454

    U6 peaked at about 17% in 2009 and has been following more quickly than US and is now under 15%.  It is normally at about 9-10%, so no matter what definition you want to use the employment picture is improving. Not sure what your point is? 

    • Hank DeCat

       You’re a lying moron, that’s my point.

      • Madame_deFarge

         When so many people around you are either unemployed or underemployed and barely getting by the wonder numbers don’t mean a thing.  I don’t believe a thing the Obots put out.  They are lying liars who lie for a living.  They are here, in unfriendly territory, to plant doubt and spin, spin, spin.

      • April454

        Easy to make accusations, but where exactly is the lie? 

  • TeakWoodKite

    LJ, since when has obama ever had a record to run on? (Snark off)

    The dude wants “flexibility”. He will not run on his record. The opposition will spend great sums pointing out his shortcomings, but that is not a battle he will engage in beyond the rethorical.
    The same lofty 2008 BS from BO is what’s coming, the facts be damned.

    The only tactical option BO has is to make Romney look like a monster by association.

    OT: Has anyone seen the text of what Barry signed in “Af-gone-istan”? Or any idea where it was entered into the federal register?

    • Flop_Flipper

      The only tactical option BO has is to make Romney look like a monster by association.

      And that is exactly what he is doing. But his own words will come back to haunt him as this thing heats up in a few months.

  • arabella_trefoil

    Cheese and crackers! I am just so sick of this stuff. Than goodness Larry tells it like it is. Who in their right mind could believe that things are either 1) AOK!  or 2) Getting better all the time!

    I, to quote Jane Austen, prefer to “keep my ill feelings to myself” when I post here. But lately, son of biscuit! I see more and more people struggling, more businesses going belly-up, more marriages going bust, more homes in foreclosure, prices going up and up, etc.

    Am I blind, or am I stupid?

    I am sitting here struggling to write my last research paper for the term, and I’m too damned depressed to do it. My paralysis scares me. I’m depressed, my husband’s depressed, and PS. he decides now after thirty years of marriage to have a mid-life crisis.

    Another one bites the dust.

    Tell me a joke, sombody. No, not you PPPA.

    • HELENK2

       take yourself outside tonight and make a moonbow and see the beauty

    • HELENK2

      every once in a while stop and see the beauty

    • HELENK2

      • arabella_trefoil


    • Flop_Flipper

      Whenever I find myself in a situation where pressure puts a cork in my ability to write, I forget about the task at hand and go for a walk, garden or see some friends. It seems to clear out the cobwebs and when I am ready the words start to flow. This was especially difficult when I was in college as I wouldn’t even begin (though I would try several times) to write a term paper until the day before it was due. But letting things digest until the natural writer in me took charge seemed the only way to allow it to happen without completely losing my mind.

      Not sure what the cure is for mid-life crises. They happen and we learn to deal with the ramifications. For the most part mine sorted itself out. 

      A good dose of Zappa might alleviate some of your ills. Peaches en Regalia always cheers me up. Take two Mothers and call me in the morning.

      • arabella_trefoil

        Frank Zappa helped a lot. Thank you for your advice. Peaches en Regalia is one of my favorite songs. It cheers me up.

        Zappa fought his own demons, as we all do at one time or another. Most people think of his music as irreverent, scathinly witty, and inventive. It is all those things. But Zappa had a gentle, compassionate side. His music includes comforting songs that comfort in an odd way. (If you get my point.)

        Another instrumental that I like is “Blessed Relief” from “The Grand Wazoo.” He worked on that album when he was in a wheel chair recovering from an assault from a fan during a London concert.

    • DianaLC

      Can’t like your post arabella, but hope you know that I’m here sending “good vibrations” your way.  One day at a time—that’s the mantra I used when I was in the depths of the worst stages of being in over my head in one crisis after another and being depressed.  All you can do is wake up and try to have a victory, even the smallest one, for that one day.  Then do it again the next day.  Slowly it will get better.

      And do believe in the Maker who provided us with all the abundance we need if only we ask it of him/her.

      • arabella_trefoil

        DianaLC – You are a wise woman. I thank you for your comments. I know you are right.

        But I needed to hear it.

    • Hank DeCat

      Q What’s good about being depressed?

      A Nothing. But it’s no worse than anything else since life sucks anyhow.

      OK, maybe that’s not the joke you needed, but like Diana, Helen & Flop_Flipper have already basically said, when you are feeling like this it is good to take a step back, breathe & relax. Sit outside, look at the horizon and don’t think about anything  — just try to get into the “moment” and appreciate the beauty around you without letting the stressors enter your thoughts.

      Changing your diet & exercise can help too — make sure you are getting all the nutrients (especially vitamin D — you’d be surprised how many people nowadays are vitamin D deficient with all of our inside jobs, etc & that can really effect your mood) & antioxidants you need, etc. There is a lot of info on medical websites that you can use.

      Of course, if your feelings of depression persist & become chronic you should go to a doctor & get blood work done. Sometimes it is physical (like a severe vitamin D deficiency, etc). And of course, there are therapists and anti-depressants that can do a world of good as well.  You’d be surprised how many people need them at least at some time in their lives. There is no shame in it.

    • no_longer_a_democrat

      Arabella, this always give me a good laugh, its much better than 3 stooges.  :-)

      Queen to President Stooge, “put it down”

      One of the best advise someone gave me was to take a deep breath, and give a scheduled time to worry about item x, y, z, after that “worry time”, then do something else. Seems to help sometimes, just step back, and take one item at a time, I know its easy for us to say, but just take one item at a time, step back, take a walk, etc.

      • Hank DeCat

         Ha, ha. That is funny each time I see it. Do you think that dumbass even know how badly he effed up?

        • arabella_trefoil

          Nope. When his ghost writer gets to book 6 of Obama’s autobiography, this scene will be transformed to an account of Obama’s courageous stand against British Imperialism. Or something.

      • HARP2

        What a dufus. This was the same trip he signed the book 2008 in 2011.
        All you libs have a real winner there.

        • arabella_trefoil

          Obama’s answer is to quote PeeWee Herman:

          “I meant to do that!”

      • arabella_trefoil

        Ay-yeeee!  N0_longer_a_democrat, that video almost made me piss my pants. I had not seen it before. So funny.

        And yes, one step at a time is the way to get through. My version of that is “Moving is better than not moving. Action is better than inaction.”

        Thank you for the video and the advice.

    • KenoshaMarge

      PPPA doesn’t tell jokes arabella, he/she/it is one.

      Here’s some adult truths that may give you a smile or at least make you feel less alone.

      1. Even under ideal conditions people have trouble locating their car keys in a pocket or purse, finding their cell phone, and Pinning the Tail on the Donkey – but I’d bet everyone can find and push the snooze button from 3 feet away, in about 1.7 seconds, eyes closed, first time, every time.
      2. Nothing sucks more than that moment during an argument when you realize you’re wrong. 3. I totally take back all those times I didn’t want to nap when I was younger. 4. There is great need for a sarcasm font. 5. How the hell are you supposed to fold a fitted sheet? 6. Was learning cursive really necessary? 7. Map Quest really needs to start their directions on # 5. I’m pretty sure I know how to get out of my neighborhood. 8. Obituaries would be a lot more interesting if they told you how the person died. 9. I can’t remember the last time I wasn’t at least kind of tired. 10. Bad decisions make good stories. 11. You never know when it will strike, but there comes a moment at work when you know that you just aren’t going to do anything productive for the rest of the day. 12. Can we all just agree to ignore whatever comes after Blue Ray? I don’t want to have to restart my collection…again. 13. I’m always slightly terrified when I exit out of Word and it asks me if I want to save any changes to my ten-page technical report that I swear I did not make any changes to. 14. I keep some people’s phone numbers in my phone just so I know not to answer when they call. 15. I think the freezer deserves a light as well. 16. I disagree with Kay Jewelers. I would bet on any given Friday or Saturday night more kisses begin with Miller Lite than Kay. 17. I have a hard time deciphering the fine line between boredom and hunger. 18. How many times is it appropriate to say “What?” before you just nod and smile because you still didn’t hear or understand a word they said? 19. I love the sense of camaraderie when an entire line of cars team up to prevent a jerk from cutting in at the front. Stay strong, brothers and sisters! 20. Sometimes I’ll look down at my watch 3 consecutive times and still not know what time it is. 

      • arabella_trefoil

        Great post! I wish I had owned up to all these home truths years ago.

        • KenoshaMarge

          Don’t we all my friend. Don’t we all?

  • RebelCarol

    According to a Wa Po story today by Brad Plumer, “If the same percentage of adults were in the workforce today, as when Barack Obama took office, the unemployment rate would be 11.1 percent.  If the percentage was where it was when George W. Bush took office, the unemployment rate would be 13.1 percent.”
    The article goes on to state, in part, that one significant factor in the shrinking of the labor force is “that baby boomers are beginning to retire early – a trend that has worrying implications for future growth”.

    “The implications for returning to what economists call “full employment” are significant. According to calculations by Michael Greenstone of the Hamilton Project, if the labor force grows by 90,000 a month, then an economy creating 200,000 jobs a month would take about eight years to return to full employment. If the labor force grows by 125,000 a month — plausible if discouraged workers begin returning to the labor force — it will take almost 14 years to return to full employment”. 

    Uh Oh, that means that not even Mitt “I was against it before I was for it” or “Me Too”  Romney is going to have any success creating jobs.

    • Hank DeCat

      Oh, I fully expect that if/when Romney wins the election the MSM will start reporting the REAL unemployment number (U6) and not the bs number (U3) they are using for Obama. That way they can pretend, as you seem to imply at the end, that Romney will not be successful creating jobs.

      So I guess we are better off sticking with Obama that way we can be lied to & pretend that the unemployment numbers are getting better instead of  worse like we will be lied to if Romney wins.

      Obama 2012: Fantasy supersedes reality. Forward!

      • jrterrier

        don’t you know it.  that’s exactly what is going to happen but they are not going to once say that pres obama handed him a lousy economy.

        • KenoshaMarge

          You mean he won’t have “inherited” all the bad things? Since the MSM and Obama are all ready blaming him, and Paul Ryan, I suspect that he will be pummeled mercilessly if he wins. But he’ll be pummeled mercilessly by the media no matter what he does.

          As  a Republican he knows full well that the media simply cannot even pretend to fairness in reporting anymore. Or pretending that their job is to report the news not rush to defend every Dem who gets their ass in a crack.

          Especially their pal, the POTUS.

    • April454

      You are 100% correct. That is a good WSJ article.

      The babyboomers started to retire en mass in 2006 when they first began reaching retirement age.

      Studies show that more than 50% of those dropping out of the labor force are from retirements. This recession has actually forced more to retire sooner.

      The laborforce particpation rate has been dropping since 2000, well before Obama.

      The question also is: what is full employment?

      • Hokma

        Do have any idea what the hell you are talking about before you post?

        In 2006 the oldest baby boomer would have been under retirement age. Most baby boomers in 2012 are still not 60 years old.

        And retiring early? They are doing just the opposite – living longer and working longer. With the economic catastrophe called Obama they have lost jobs before they were ready to leave and may never be able to retire.

        Where do you get your kinformation from? Daily Koz Kidz? Or do you just make it up?

        • April454

          “The United States Census Bureau considers a baby boomer to be someone born during the demographic birth boom between 1946 and 1965.

          The AVERAGE retirment age in the U.S. is 62. That means that many retire before 62. Retirements of baby boomers have been exponentially accelerating since the mid 2000s.

          • Hokma

            Look PPAA – I would like to see you banned again for your idiot remarks and false information.

            So in 2006 the earliest baby boomer would have been only 60 and the majorityt of baby boomers are not yet 60. So where are your facts.

            I know where you get them from. You make them up. People retiring before they are 62? Really?

            Get lost and go back to your basement moron.

            Your problem is that you can change your online name as many times as you want, but it is still the same ignorant statements being made.

      • TeakWoodKite

        “This recession has actually forced more to retire sooner.”

        How soylent of you. 

  • April454

    Same old same old spin from you.
    Yes, we have had two months of a soft spot in job adds, but if you read any of the analysis from economists, most of this is because of seasonality and a number of job adds being pulled through into earlier in the years when we were adding 250,000 a month. Most economists expect job adds to pick back up.
    The economy is growing at least in the 2.0% to 2.5% area and could be actually growing closer to 3%. Again read what economists are saying.
    Gas prices are going down and are expected to continue to fall.
    The unemployment rate is now 8.1%, which is a dramatic  drop from its near 10% in 2009. It looks very likely now that it will be below 8% by election day. You can talk about the size of the civilian workforce all you want, but a simple question for you: who actually is falling out of the workforce at this point? The answer is that it is mostly older people retiring. So there is far less slack to pick-up as what you might think. If you look at U6, which includes those who have dropped out of the workforce it has also been dropping, suggesting an overall employment picture that continues to improve.
    If you compare this job recovery to those of the last two recession, this recovery is no different. In fact, this recession’s job recovery is actually ahead of the last two recessions.
    I could point you to many many more economic stats that show the economic recovery continues; housing prices, consumer/household debt, retail sales, salaries, productivity, stock market, tax revenues increasing, commercial real estate vacancy rate, corporate earnings, etc. etc. etc.
    If it was not the austerity at the local and state government level (largely from Republican Governors), we would be much further ahead on the job and economic front. State and local government layoffs are basically distorting the numbers.
    Here is an interesting article on housing:

    • shelldoll2

      Hello. African American woman here.  You are a moron. ‘Nuff said.

      • foxyladi14

         don’t feed them maybe they will go away.  lol

    • HARP2

       It`s only fitting that Barry starts his campaign on Karl Marx’s Birthday.

      • foxyladi14

         LOL of course.

    • Hokma

      “which is a dramatic  drop from its near 10% in 2009″

      That was 3 friggin years ago moron!! If we had a normal recovery we would be somewhere around 5%.

      More troubling that 8.1% is based on the LOWEST WORKFORCE SIZE SINCE 1981!!!. That is the only reason you have a bogus number like 8.1% and not 15% which is probably where it should be.

      Also the growth rate has declined – not increased and is anemic.

      I would suggest you get some learning in fundamental economic trends before cutting and pasting from the Daily Koz Kidz – or just go back there PPAA.

      • April454

        Actually, if you go back and read the commentary from economists in 2008 they were saying it could take 5 years to recover from the depth of the economic downturn. The job recovery this time around has actually been better than the last two recession.

        The recession peaked in November 2009, so it has actually only been 2 1/2 years since the peak of the Bush recession.

        Who is dropping out of the labor force? record retired people.

        If you look at U6, which is the broader measure of unemployment is has actually been falling faster than the commonly used U3 8.1% unemployment rate.

        Not sure what a “normal” recovery is, but so far growth got started in record time, corporate profits returned in record time, the stock market gained back most of its value pretty quickly, etc. The jobs recovery is also quite normal based on the most recent recessions.

        • Hokma

          No they did not predict it would take years to come out of a recession – not even Crazy Paul Krugman. I would love to know what economist said in 2008 it would take 5 years to come out of this recession.

          The mortgage problem was going to take at least that long to resolve. The mortgage problem was a systemic problem within the eocnomy caused by excessive government intervetion. It did not cause teh recession and has nothing at all to do with the recovery.

          Recessions are a naturally recurring event that happens about every 8-10 years. Only a moron believes that Presidents create or cure recessions – they don’t. However they can make them worse by excessive intervention by the government.

          The first signs are a flattening of the stock markets and a flattening /decline in inventory levels which leads to decline in manufacturing and so on. The direct impact on people starts with small businesses realizing reductions in order or sales. And finally are the inevitable layoffs which happen at the end of a recession as it is bottoming out.

          When Obama became President the recession was bottoming out. If this idiot had an ounce of experience in the private sector including running a company or maybe even going to his economic classes in college he would NOT have come into office and signed off on the most reckless spending bills in history, sign off on irresponsible regulations, and then Obamacare.

          We have had 11 recessions since World War II and the part of the recession that most impacts people lasts about 6-8 months. This recession should have been no different. He is a complete failure and his bullshit about inheriting and blaming lacks a stitch of credibility. He has been way over his head and we need to kick him out fast before we become another Greece.

          • April454

            “We have had 11 recessions since World War II and the part of the recession that most impacts people lasts about 6-8 months. This recession should have been no different. ”

            This statement suggest you complete lack of understanding of this recession.

            2008/2009 was the biggest and fastest collapse in the GDP and employment in this country since the great Depression, which took 10 year to recovery and only after a major fiscal boost from WWII.

            This recession also came with a massive housing collapse that no other recession had at this level.

            This recession is very different.

          • Hokma

            “This statement suggest you complete lack of understanding of this recession.”

            This statement saound like all your other statements PPAA.

            Why don’t you stop with this endless stream of pseudonyms and get lost – get a basic education – and tell your mommy that she forgot to lock the door to the basement.

        • FormerLib160

          The Obama Great Failed Recovery

          Just keep in mind, and repeat endlessly through November 6, the
          recession which started under George Bush ended in June 2009 just five
          months after Obama took office:

          The National Bureau of Economic Research, the arbiter of the
          start and end dates of a recession, determined that the recession that
          began in December 2007 ended in June 2009.

          This means two things.

          First, Obama’s economic policies had nothing to do with the end of
          the Bush recession, since the recession ended 5 months after Obama took
          office and before any of his policies, including the February 2009
          Stimulus Bil, had come into effect. So Obama gets zero credit for the
          end of the Bush Great Recession.

          Second, Obama owns the failed recovery from the recession. It took
          place entirely on his watch, and during a time period when Obama’s
          policies and threatened policies were a factor.

          Obama’s failed policies have created the impression in a majority of
          people that the recession continues, but what we need to get people to
          understand is that they are experienceing Obama’s Great Failed Recovery,
          not Bush’s Great Recession.

          So repeat this endlessly. The Bush Great Recession ended June 2009.

          The Obama Great Failed Recovery is the problem.

    • TeakWoodKite

      “because of seasonality”   ????

      The rain in Spain falls mainly on the plains. 

      • April454

        I suggest you do a little reading about seasonal job hiring and why it is different this year because of the warmer winter. If you look inside the last two months of labor data, you will see that it is all about retail and leisure sector jobs. Normalizing the numbers over the last 5 months and you will see we are adding about 200,000 jobs a month. It may be a little too difficult for you to understand or to actually look inside the numbers to see what is going on.

        • Flop_Flipper

          So if it wasn’t for global warming the economy would be humming along. ROFLMAO!

          • Hank DeCat

             She forgot to blame the ATMs.

        • Hokma

          The economy needs to be producing well over 300,000 jobs per month. 200,000 is just keeping up with populations growth.

          Obama is a flaming train wreck.

          • April454

            With the unemployment number going down, I think your numbers are off.. most economists say the number is closer to 100,000 to keep up with the growth in the labor market, paritcularly given all the retirements. 300,000 would be nice though. too bad we are losing so many jobs from all that GOP state level austerity.

          • Hokma

            These are the same lame comments made by your alter-ego PPAA. So get lost or get an education, but stop wasting time and space here with cut-and-paste garbarge from the Daily Koz Kidz.

    • Retired_from_SPOnaj

      When will President Obama start running on these simple economic truths so that the American people can re-elect him now that the economy is so much better under his personal leadership?

      • April454

        Actually, the economy is in much better shape than when Obama took office. We have had the deepest economic downturn since the great depression. It takes some years to come back from such a dramatic downturn. It is only just over 2 years since the peak of the recession in late 2009. 

        Corporations are generate record profits. The housing market is stabilized and prices are starting to recover in some markets (like Florida). The stock market has gained back just about all its value. Obama has done a hell of a good job turning around this economy. People forget how bad things were in 2008 and 2009. The U.S. is now leading all western industrialized countries in growth. That really says something.

        Actually, I am quite confident the people will re-elect him. Nobody wants to go back to George Bush on steriods. Bush burned the house down and Obama has spent 3 1/2 years trying to repair the damage.  Most people very much understand that. The economy would be in far worse shape if Romney or McCain were President. Romney would have let the entire auto sector just completely collapse. The auto sector will sell 14 million heading to 15 million cars and trucks this year. That is a hell of an astonding turnaround for a U.S. industry that was on its knees just two years ago. The people of Ohio, Indiana and Michigan will not forget that saving the auto sector saved their economies and their jobs.

        If the economy was doing so bad, then why has Obama ratings remain pretty good?

        • Hokma

          “Romney would have let the entire auto sector just completely collapse.”

          I know you;re a communist and have zero confidence in people’s ability to succeed without government.

          GM did what Romney wanted them to which was to go through a structured bankruptcy. What Obama was using taxpayer money to pad the pockets of the UAW.

          Also Ford did okay without that bailout. And then there are the foreign cars that are manufactured in the U.S. and they did not need our taxpayers money either.

          A failed company is a failed company and if a structured bankruptcy cannot fix it then they should fail. That does not mean the entire industry will fail – only the companies that cannot operate properly or have damaged their brand.

          • KenoshaMarge

            Ahh, the GM is a success meme. Still fooling the foolish.

        • Retired_from_SPOnaj

          Please tell us why the Chevy Volt is a great car, much better than all other cars.

          • April454

            The Chevy volt is an important technological advancement. It is beginning to pick up some traction. It is the first step in the U.S. auto industry in moving away from the combustion engine. It represents important innovation in this country. Sorry if you Republicans do not believe in innovation with your war on science.

        • wylrae

          You fall into the category that a old neighbor when I was growing up used to reference in his favorite saying: “You really can’t expect him /her to understand, he/she has sh** for brains.”

        • TeakWoodKite

          “Corporations are generate” ???

          “Romney would have let the entire auto sector just completely collapse”.

          Ya, I see your point, his dad being an Auto exec and all…

    • Flop_Flipper

      You are a fucking idiot. No one here is cheerleading the bad employment numbers or the sham of an economy we are dealing with. The only people (and I use the term loosely) cheering the downward economic data are Obots like you.


    Admitted 9/11 mastermind Khalid Sheikh Mohammed and 4 others appear in Guantanamo court to face terror charges – @AP

    is there any one in the court room that will let the public know what is going on at this trial???

  • jrterrier

    this is OT but only slightly so.  it is laughing out loud funny and so true.  it mocks Pres Obama’s “composite” girlfriend from Dreams of My Father; Julia the new Obama-campaign composite female; and MA Senatorial Candidate Elizabeth Warren, whom he refers to as “Elizabeth Fauxcahontas Crockagawea Warren”

    “Have you dated a composite woman? They’re America’s hottest new demographic. As with all the really cool stuff, Barack Obama was doing it years before the rest of us.”

    • HARP2

       I never knew that all Democrats have high cheek bones.

    • Flop_Flipper

       On a serious note… Isn’t making several women into one composite woman a form of stereotyping sexism?

    • DianaLC

      This article is hilarious!  I, with my very white skin, and my best friend/colleague  at a local community college, who had an even whiter complexion,  about fifteen years ago couldn’t help but notice that those being hired for all the new full-time positions (while we labored in the extremely underpaid ranks of the adjunct lecturers) all had unusual names and darker skin tones. 

      We often threatened to go through the process of legally changing our names to something like LaShonda Lightfeather Gomez to get our resumes at least looked at whenever we applied for a position.  I KNOW, I KNOW…..very racist of us.

      But now I see we too were at the forefront of trying to become composite women.

  • Flop_Flipper

    If there is any good news here it is that most Americans, except the true believer Obots, know the Obama Administration is lying and playing politics with the facts. Despite the assumptions by the libs that most of us are stupid enough to believe their nonsense, many people have had enough and are waking up. That is why there is such a concerted effort on the part of the Dems to demonize Romney. His message of economic freedom and government interference is resonating.

    • jrterrier

      yup, even the MSNBC loyalists were observing the dismal state of the economy when the numbers came out last Friday.  And more and more, people are commenting on the dramatic drop in the labor force paticipation. 

  • David L

    If you can’t dazzle them with brilliance, baffle them with BULLSHIT.  Boys and girls, this is how Washington works.  I am lucky to have friends on the inside to keep me posted as to what is really going on.  Our government is an even bigger joke than you would ever believe.  I am sure that Larry enjoys getting the truth from contacts also….

  • Popsmoke

    I have a friend who is in a senior sales position for a very large HVAC manufacturer with 12 plants in the US.  Its May and business is dead. This is the time business should start to be moving not dead. The company is  laying off workers not expanding…..

    The out look is not bright at all and like I said its only May….. The company has written off 2012…..

    • Popsmoke

      PS: Let me add that both parties in their attempt to gain leverage in the 2012 elections are screwing each other over driving us further into depression.

      While Obama is doing a lousy job the republicans are not doing anything to help…..

      • elizabethrc

        Pop, what CAN the Republicans do?  Every time the House sends a bill to the Senate, the Dems vote it down.  They have no power to do anything.  All they have is their voice and hopefully the public will start listening and watching the chain of evidence about who is really holding things up…like a budget, for instance.

        • TeakWoodKite

          elizabethrc, while you are correct, I have a problem with the “what can they do” excuse. In no way am I directing my response at you, but just noting that the arguement is the same one the Dems used…

          Crazy that Harry Reid is still the leader of the Senate.

          It’s is called gridlock and being a firewall to the politically absurd is doing something

        • Popsmoke

          Remember the Blue and the Gray war? Well what we have here is the extreme right and left war… Moderation is no longer an option.

          I am now a big believer in TERM LIMITS!!!

          • elizabethrc

            Fat chance of that happening.
            There are so many reforms Congress needs to have foisted upon them.  I think a nationwide refererendum might be a possibility, since you know they won’t give up their cushy perks willingly.

      • Hokma

        The mortgage problem is owned by decades or Democrat policies but with little or no push back from Republicans.

        The economic misery is owned by Obama/Pelosi/Reid in the first 2 years although the GOP tried to prevent it there was nothing they could do.

        Over the past two years, the GOP House has offered one measure after another to correct the economic policies of Obama but they go nowhere in Reid’s Senate and Obama is clueless to the reality. There is nothing the GOP can do except make sure Obama is not re-elected and hopefully get a majority in the Senate.

        • jrterrier

          i agree but why are the Rep members of congress so bad at driving this point home.  

          there also is the fact that the country needs to adjust to the reality that we are competing against other emerging economies.  even our most innovative and lucrative companies like Apple don’t manufacture in the USA.  no amount of tinkering around the edges will make that reality go away.

          • Popsmoke

            Driving the point home open more questions than it answers….Ditto on your post…..

        • Popsmoke

          Again we agree to disagree. Sure proposals like cut, cap and balance with NO revenue increases…. They leave out defense and security and they do that not because they worry about our defense but because those industries have been republican deep pocket campaign contributors (60/40).

          The proposal are just politics…

          Look we agree that we have to cuts across the board and that means defense and DHS as well as across the board fair and balanced TAX INCREASES…

          Otherwise this is all bullshit….

          • Hokma

            Waste in the defense spending – yes.

            DHS – waste of money frm the outset. – yes.

            Tax increases – hell no. – but cut out loopholes and shelters.

        • Popsmoke

           Lets add…. Let the Bush tax cuts expire, lets get the hell out of Iraq and Afghanistan like right now, cut foreign aid and lets realign our military to match the real threats of today and that includes another round of nuclear weapons cuts…. Do we really need some 5113 warheads?

          So how much money would we save? Think the republicans will let something like this get by?

          • Hokma

            Realigh military to real threat today – yes.

            Tax cuts expire – no – no tax inxreases – but restructure the tax code and cut out shelters.

            Most spending problems are with medicare and social security.

            A vibrant economy leads to more revenue.

        • Popsmoke

          “restructure the tax code and cut out shelters.”

          Never happen!

          “Most spending problems are with medicare and social security.”

          Agree, raise the age to 67 and at 62 go partial on eligibility. Even reduce the third bend point ( Rivlin-Domenici deficit reduction report. )

          We have to allow the bush tax cuts to expire until we get a grip on the budget deficit. This will also increase government coffers.

          As far as the economy is concerned.  Hell we are in cardiac arrest! Get the defibrillators and stabilize the patient. THEN we can talk recovery and vibrant…..

          • Hokma

            Because of the policies of Obama and past Presidents, we have so many people working for the federal government as well as relying on government programs that it is impossible to campaign on scaling back government. That is why Virginia has gone into the Democrat column and will again go for Obama because people in northern Virginia are not going to vote for any President who say they are going to kill of their job by scaling back the size of the federal government.

  • KenoshaMarge

    I think that the housing market has a way to go yet before it bottoms out. And things will not get better until it does. I hope I’m wrong.

    Obama trying to put “lipstick on this pig” of a report was just pathetic.

    • elizabethrc

      Note the audience he chose to report this economic “success”.  It was college kids. 
      If he’d said that in front of an adult audience he’d have been laughed off the stage.

      • Anthony_1

        College students still go to the gas pump, the food store, etc.

        They might not be buying it this time around.  

        • cookiegramma

           I agree with your assessment Anthony_1. I would also add that many college degree programs do require an economics class for graduation.  I have a son in college who  took one of those classes this last semester and the Prof was not offering spin in the class. I think Obama has a much rougher course this year even in ivy corridors. the students also have had to see that many universities are upping tuition and not offering the work study and other programs they were.

        • foxyladi14

           I think you are right Anthony.

    • jrterrier

      i don’t know where you find them but your political cartoons are the best.

      • KenoshaMarge

        Mostly at and the Orange County Register. I found the ones at the Register by accident when I was reading an article by Mark Steyn. I have a lot more that I never get to use. I do love cartoons!

        • DianaLC

          KenoshaMarge,  I received the funniest email with a series of cartoons about O’s football spiking over the death of OBL.  I think the regulars would love it.  Can I contact you somehow to send it to you so you guys can figure out how to post it?  It really is hilarious.

          • KenoshaMarge

            I’m not sure how you would contact me but maybe Bronwyn can contact you. I’ll ask.

            If you have the cartoons in your email and you copy them to your photos you can post them yourself quite easily. If it wasn’t easy I couldn’t do it.

            Just click on image at the bottom of the comment box and take it from there.

  • EllenD818

     “more than THREE TIMES that number left the labor force. Is that because
    they won the lottery? Is that because they earned so much money on
    lucrative business deals that a mass of folks decided to retire?”

    I have been wondering about these people. What are they doing? They need to eat. They have to make some kind of money even if they are living with relatives. And unemployment only goes so far.

    I notice there are a lot more cash transactions. Which means the underground economy is growing. And this economy isn’t being tracked. And it isn’t being taxed.

    • jrterrier

      i also wonder about the long-term unemployed.  maybe you are correct that they are in an underground economy.  but i also recently saw an article about the marked increase in multi-generational households. 

      • EllenD818

        Although I come from a generation that couldn’t wait to get away from parents, I notice that my children don’t feel the same which I guess is a compliment.

        One lives with us and we look after our granddaughter so the other can work. I actually like it. I think it holds us all together. It will be interesting to see how this affects the culture overall.

        • DianaLC

          I agree……I always envied the Waltons with the grandparents in the house along with parents and grandchildren, even grandchildren.  That’s the kind of family life I have always craved.

          But because of the way the economy developed it became impossible.  Children had to be mobile to find employment.  Families that had grown up in communities where visiting grandparents and grandchildren was easy because everyone was closeby now find themselves having to fly to see loved ones or use Skype.  Makes me very sad.

          So, you’ve pointed out the only possible positive effect this horrible econmy might have on our culture.

          • EllenD818

            There is a chance our son-in-law will be offered a terrific job 1000 miles away.
            We have been discussing renting our house and moving there too.
            You do what you have to do if it is family.

        • foxyladi14

           Like it used to be back in the olden days.

          • EllenD818


  • MG6

    I wonder if Commander-in-Theft and his cohorts – Corzine and Valerie Jarret have an account in Switzerland where buddy Corzine might have lost (or missed placed) the millions of dollars?

  • dst

          Two thoughts
    from the wisdom of others that seem appropriate here. From Mike Huckabee on his
    Fox show about a year ago (as remembered by me) “When a country tries to  buy itself out of a recession, the incurred
    extra dept often nullifies any progress that is made”. Owe 16 Trillion than one
    is paying 160 Billion per point interest rate per year. If a year later you now
    owe 17 Trillion your payment is now 170 Billion/Pt. and so on. They always say
    that each penny that fuel increases is like a new tax added. This may be so but
    at least you get to use the gasoline or warm your house with it. Interest paid
    to another country is just lost money. This brings be to my second point taken
    from Mark Steyn (After America) from one of his covering for Rush shows, “ this
    may be the first time in world history where the worlds number one super power
    is actually helping pay its nearest competitor in its efforts to take over the

  • Hokma

    Also the 8.1% reported unemployment rate is extremely misleading because it is a measure of only those in the work force – and the size of the work force, I heard today,  is now the lowest it has been since I believe about 1981. Which in some way is good news for Obama because now he can legitimately compare himself to Ronald Reagan in this one aspect.

    • Popsmoke
      • Hokma

        The original source of the article is the Washington Times which is surpising and will be asking my friend there why she has a job.

        “The nation’s unemployment rate continued its rapid decline last month, falling to 8.1 percent as another 115,000 jobs were added  . . .  The jobless rate is down substantially from 9 percent a year ago, dropping most dramatically during the winter when the pace of job creation picked up to over 200,000 a month. ”

        RAPID decline? Really.  And highlighting a meager 115,000 jobs when at this stage it should be in excess of 300,000 jobs. Her hyperbole is beyind the realm of comprehension.

        And buried at the bottom is the truth, in the next to the last paragraph – an old journalism trick knowing most readrs don’t read past the third paragraph:

        “But Douglas Holtz-Eakin, Republican economic adviser, said the decline in unemployment last month was deceptive because it was caused by people dropping out of the labor force after getting discouraged when they couldn’t find work, rather than more people finding jobs.”

        Nowhere in that opinion piece does it mention the actual size of the friggin workforce today compared to last year.

        I would have expected that from the Washington Post, not the Washington Times. 

      • jrterrier

        i continue to harp on the fac that one of the worst casualties of this period is the loss of an independent and probing press.  i thought of this again while watching MSNBC the other morning (yes, i like to see what they are up to).  they sounded like a program run in the soviet union.    all administration talking points instead of truth. 

         or saddam’s minister of info.  remember him, who went in front of the cameras every morning claiming the americans were not winning even as in the next screen you could see the USA about to topple the regime. 

        it’s really sad.  we will come out of this economic rut but i’m not certain the MSM will ever regain its footing or its rightful and necessary place in a democracy.

        • KenoshaMarge

          I don’t think they can or should. They abdicated their job of reporting the news to putting forth their ideology.

          I for one will never trust any of them. I check up on every story from as many sources as I can find.

          • foxyladi14

             me too Marge.

        • DianaLC

          You are referring to Baghdad Bob.  I loved watching him at the time because we all smuggly believed we had real spokesmen who could not, by law, lie to us and that our news outlets would question his absurd statements.

          I guess the MSM here has provided us the eggs to splatter on our faces for being so complacent and so assured of our superiority.

          The talking heads, supposed reporters, and owners of the MSM charlatans who promoted this obamanation of a presidency need to be lined up for public humiliation.

        • Popsmoke


  • no_longer_a_democrat

    With the economy as weak as it was in 2008 and beyond, what does Barry do? Pass all sorts of crap to make it that much harder for businesses to grow, expand. RationCare, then Dodd frank, then they wanted to do cap n trade. All sorts of weights tied around the ankles of businesses and then they can’t figure out why businesses won’t sprint to expand and hire.

    • binky354

      They’ve are doing Cap & Trade, even though it didn’t pass in Congress:  For the past  few  months we’ve been getting an additional charge added to our electric bill.  When questioned about it, we were told the extra charge was an “Environmental Surcharge to recoup charges incurred in the cost of equipment and other expenses related to EPA regulations on power plant emissions.”  It seems like Cap & Trade to me.

    • bigscreen

      …”then they wanted to do cap n trade”…They still do, and they want to do it in a big way

      • foxyladi14

        actually it is in effect via Barry,s little EO pen.

  • no_longer_a_democrat

    is PPPAA unbanned? There’s nothing good on TV today, reading PPPAA spin this would be entertaining, and reading him/her get squated down with sanity & facts would be even more entertaining. :-)

    (just kidding), he/she’ll probably go “oh! look over there”!  Romney put Seamus on top of his car and that Romney’s a racist!

    Great post, but the numbers are even worse than this… ZeroHedge did an excellent article on this.

    This is not a recession, its a depression. And its only going to get worse.

    • jrterrier

      great article.  love the terminology.  captures the feeling i had the other day that i was watching a state-run media outlet, a la the sovite union — nothing but propaganda.   

      Propaganda unemployment rate: 8.1%; Real unemployment rate:

      Reason for difference: organic growth of labor
      force which grows alongside the broader population. Don’t be
      confused by cheap explanations on TV why the labor force should be declining
      (especially with ZIRP meaning pre-retirement workers have to stay in the labor
      force ever longer to supplant their meager fixed income): the widely accepted
      definition of the labor pool, that used by the CBO and all other government
      forecasting agencies, assumes a
      90,000 growth in the labor force every month as it has to keep in line with the
      growth of the US population! The implication is simple: using a
      real labor force participation rate long-term average of 65.8%, the real
      unemployment rate in April was 11.6%, based on the 5.4 million additional
      workers that should be counted as part of the U-3 which then means that the real
      number of unemployed is not 12.5 million but 17.9 million, which in turn implies
      a 11.6% unemployment rate in the US. This also means that the spread between the
      propaganda, and the real number is now 3.5%: the most it has been since
      the early 1980s.

  • stodghie

    larry thanks for keeping us informed on this. i am in a place that has positive growth but people are hurting here also. obama has done everything to destroy jobs and nothing to help. please keep on keeping on!

  • LindaAnselmi

    I’m not quite as optimistic as you are Larry.  I fear the bottom of this depression is much deeper and the housing market has a long way to go also.  We are still sitting on a house of cards.