Morning in America?-Obama recovery now in full bloom as Dow soars nearly 300 points

[Politics_Guy25]

Morning in America may finally have arrived. The Dow is up nearly 300 points based on the fact that Europe is straightening itself out, small businesses added the most jobs in 3 years and manufacturing is growing at a decent pace. The economic policies of President Obama are finally bearing fruit!

I should add that in the end, 2012 will be decided based on the economy and the economy alone absent the prez being "caught with a dead girl or live boy" as the old saying goes.

Thanks President Obama!

P.S.: For those of you who say the stock market isn't the real world, it's up today because of really good news in the real world.

[BrklynLiberal]

1. Wonderful for all those who have enough money to invest in the market..for the rest of us...

..those of us among the unemployed, those of us on Social Security, those of us without any medical coverage, those of us whose homes are being foreclosed, MEANINGLESS....

[dave29]

15. unless it leads to you getting a job

which it very well might.

[thanks_imjustlurking]

55. One can hope, but

since it's almost entirely a casino (mostly for the insiders), not a mechanism for actual investment in productive businesses, I tend to doubt it.

[EFerrari]

63. In China. n/t

[niceypoo]

69. The stock market is a big part of the problem, not the solution

Corporations are laying off full timers and replacing them with part timers who get no benefits, thus padding their bottom line. This is NOT prosperity.

[treestar]

70. Bingo!

This hatred of Wall Street is just plain ridiculous. Comes from the same people who wail, "where are the jobs?" while they root for a situation that would kill new job creation.

[Fruittree]

64. I also heard that the privates sector has been adding jobs

both the last two months. It's still not enough but it's hopeful and maybe something that can be built on.

[Fruittree]

65. I meant private not privates!

[bluestateguy]

2. Too early to crow

We'll know by this summer if a Morning in America campaign is in the cards for 2012 or not.

Hang tight and hope for the best.

[CountAllVotes]

3. one day

and a two-bit rally for what reason exactly? Oh yeah, things are better in EUROPE.

Don't hold you breath waiting for DOW at 20,000.

:dem:

[Hawkowl]

4. Recovery is measured in votes

Which can be directly correlated to unemployment. The DOW can be stuck where the sun don't shine.

[TheWatcher]

5. It's up today because of really well-crafted Propaganda, and Computer Buying Programs

which make up for about 60-80% of all trading on a given day.

Yes, 93,000 Seasonal Temp Jobs "Saved the Economy".

The 61,611 that got CUT from the Private Sector?

Doesn't Exist.

And the 2,000,000 losing their Unemployment Benefits?

They don't exist either.

And now we are on the hook for a thinly veiled Bailout of Europe?

Yes, things are just rosy!

Keep Sleeping.

It was a waste of time to even post in this thread, because people like you have no use for reality or the real world. Only that your Perception is Managed to fit the reality you desire to be true.

The Delusion is Breathtaking.

As is the Propaganda.

[Speck Tater]

6. A trap for fools stupid enough to believe it will last beyond next week.

The world economy is in slow motion collapse. There's nowhere to go but down. These false blips are nothing but sucker bait to lure in anyone stupid enough to fall for it so the insiders can gobble up that money as well.

In fifty years the human race will be on the brink of extinction. Between now and then there is nothing to look forward to but more collapse, sometimes slow, and sometimes frighteningly quick. But collapse is all the future holds or can hold. We've burned through the fossil fuels that made civilization possible and without energy there is no wealth of any kind, because ultimately all wealth depends on energy. As the energy runs dry the wealth will run out as well. It's all down hill from here.

[TheWatcher]

7. Like I said, the Delusion is breathtaking.

No matter how much evidence is presented to the contrary, the faithful will only listen to Propaganda that makes them feel good.

They cheer on every false Band-Aid like rabid teenagers at some High School Pep Rally, as if it's the cure for cancer.

You cannot reach them.

it's worthless to even try.

It's astounding and surreal how completely lost some people are.

[Speck Tater]

9. Maybe it's better that the people ARE deluded.

Think of the chaos that would reign if people knew the truth and started demanding that their leaders did something about it. Government would be brought to a standstill by the protest marches. Nope. We can't have that. Better the people remain deluded and let our leaders lead us into hell. :sarcasm:

[GoCubsGo]

8. Damn good thing.

Because, if I don't find a job soon, I'm going to have to hit up my 403b to pay the bills and keep out of foreclosure. Need it to be as big as possible.

[great white snark]

11. Good luck on your job hunt.

No snark or hidden meanings-I truly wish you well. I know how you feel.

[Freddie Stubbs]

10. The unemployment rate will be a more important metric for voters than the Dow

[TheWatcher]

12. Surely you JEST. The 2,000,000 people who are lsoing their Unemployment Benefits Today

are FAR too busy being glued to CNBC and cheering on The Dow to be bothered with trivial nonsense such as this.

The Stock Market IS The Economy.

The TV Told me So.

:sarcasm:

[sweetapogee]

13. the economy

my friend, is not the Dow Jones Industrial average. The "Dow" is the average stock price of a group of major companies. We do not declare the economy to be fixed based on 1 day at the NYSE. The economy, not to be a nay-sayer, is safely located at the bottom of the shit can.

And if the economy doesn't get out of the shit can within the next 12-14 months, we will be ruled by repigs for the next 20 years, and that's only if we are lucky.

[budkin]

14. The stock market means absolutely nothing when those companies aren't hiring

Proof that tax cuts don't create jobs

[ipaint]

16. Kick and rec for posts #5, 7, and 12. nt

[paulk]

17. can't wait for some of that to trickle down!

[Politics_Guy25]

18. You guys are clueless

The Dow is a leading indicator of economic growth or weakness. Other than that, go ahead, keep on unrecommending good news and clamoring for a Kucinich primary challenge. You guys who think that Kucinich could even win 40% in a general are the ones not living in the real world.

You guys will be the ones on Friday when the unemployment rate comes down to 9.4 or 9.5% telling us how it's not really good news.

The prophets of doom have lost all throughout history and will again.

Good day.

[Imajika]

19. You are completely correct...

The news today was all good and the market responded.

Will it be good everyday? No. But things are definitely looking a bit better.

I also agree, I bet Friday's numbers will be surprisingly good.

I think we'll see 125,000 private sector jobs created and a new unemployment rate of 9.4 or 9.5%

The economy looks like it may be turning a corner. You've just gotta ignore the doom and gloomers who would find reasons to complain about a cure for cancer.

[ProudDad]

24. Not really!

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x538588#538806

[hamerfan]

73. I'd take that bet...

on Friday's numbers. Unfortunately, they are about as accurate as the DOW average is in relation to the overall economy.
If you have been watching, when employment figures are released, they paint a very rosy picture. In the middle of the net week, the revised (almost always revised downwards) numbers are released with very little fanfare.

[onenote]

74. the revised numbers almost always are worse?

Really? Then how come the revision issued in November showed that the economy lost 110,000 fewer jobs August-September than initially reported?

[TheWatcher]

80. Every single week the Initial and Continuing Claims are revised UPWARD.

Every. time.

This week was no exception.

http://biz.yahoo.com/c/e.html

But people like you always ignore that which you cannot spin.

[hamerfan]

91. Friday's numbers...

Not surprisingly good:


Nov. factory jobs down 13,000
Nov. retail jobs down 28,000
Nov. jobless rate above 9.6% expected
Nov. jobless rate highest since April
Nov. payroll rise below 155,000 rise expected
Nov. jobless rate 9.8% vs 9.6% expected
U.S. Nov. nonfarm payrolls up 39,000

http://www.usatoday.com/money/economy/2010-12-03-jobs-nov_N.htm

[hamerfan]

20. I'm no economic wiz,

but, I think the DOW being up is due to the USD being down, which will probably have much more dire consequences for us than the DOW average.

[Politics_Guy25]

21. I don't think that the economy is booming or anything

But all this post was meant to suggest was that the worst may be over.

[Imajika]

22. Well, as you said, your definitely not an economics wiz...

Because your reasoning about why the DOW is up is completely incorrect.

The DOW is up today because of solid economic numbers showing the US economic is getting healthier.

The market surged mostly because of much better than expected private sector/small business employment numbers from ADP along with a good Fed Survey that show growth in most regions of the country.

[ProudDad]

25. I had a friend who had an MBA...

From a rather prestigious Business School...

And got out of the market because he realized that it no longer fit any of the criteria he learned in Business School...was NOT based on any reality...

He called it "pumping money out of the widows and orphans"...

It's a casino run for and by the rich...

And has NO direct bearing on the average worker's life...

Except usually when worker's pain goes up the market goes up...

[Imajika]

32. Improved employment numbers...

...directly effect the average workers life.

ADP reported a MUCH improving employment picture in the private sector and among small business.

Face it man, the world isn't going to hell in handbasket. It may take awhile, but we are digging our way out of the hole.

Why does it seem like so many people here almost don't want the economy to improve?

[ProudDad]

39. I want Mother Earth to survive as a viable habitat

for her creatures...

If the infinite growth paradigm continues on this finite globe -- we're all fucked...

So, in that context, I want the phony-capitalist "economy" to die...

And a real steady state economy sized correctly for the resource pool and that will sustain the Earth as a replacement...

Also, FYI, the fucking stock market has NOTHING to do with "improved employment numbers"... So you're even wrong within your limited dead-end paradigm...

[hamerfan]

33. Nope, not an economics wiz,

not by any definition, but at least I can spell correctly. :think:
hamerfan

[TheWatcher]

46. Doesn't sound like you are much of an Economic Wiz either

If you think a temporary skewing of already suspect numbers is a sign of Economic health.

93,000 Seasonal Temp Workers isn't going to Save The Economy.

Neither with the cutting of 61,611 workers from The Private Sector.

And isn't it funny how everyone just conveniently ignores the 2,000,000 people who lose their Unemployment benefits today?

What do you suggest for them?

Pull themselves up by their Bootstraps?

Buy some AAPL Stock and hope for the best?

[hamerfan]

109. Hello?

Test 1, 2, 1, 2, 3... Is this thing on?

[Cali_Democrat]

51. Actually you are somewhat correct

There has been an inverse relationship between the equity markets and the dollar for some time now. When the dollar goes down, the market goes up. When the dollar goes up, the market goes down. It's been very prominent this year with the European debt crisis.

During many of the big moves in the equity markets this year, there was an absence of news and economic reports. However, the market still moved in a big way and those moves were preceded by big exchange rate moves.

Follow the dollar index (DX) and the Euro-dollar exchange rate and you will see that you are right. Typically big market moves have been preceded my huge moves in the exchange rates.

[TheWatcher]

52. Many of us have been trying to point that out, mostly to mocks, insults, and deaf ears.

There has definitely been a direct correlation between the two for some time.

It is almost a blatant trend, and I find impossible to see how the two AREN'T related at this point.

it hasn't just been this year. Check out the correlation that occurred during the Crash in '08. It is there during the lead up and during the Crash as well.

Oh, but I KNOW, it's all CONSPIRACY and BLACK HELICOPTERS.

Only CNBC has real information.

The rest is just "Intellectual Elitism."

:crazy:

[hamerfan]

53. Gracias, n/t

[Recursion]

93. How is the dollar being down a bad thing?

It makes our exports sell better and makes imports more expensive, so that America products are comparitively cheaper here too.

[TheWatcher]

37. It is YOU who are clueless.

The Dow is an artificially manipulated CASINO that mostly functions these days by High Frequency, Algorithm Computers. Electronic Computer Program Trading Accounts for as much as 80% of all trading on the Dow in any given day.

It's a FUCKING BUBBLE. It ISN'T AN ACCURATE REPRESENTATION OF ANYTHING IN THE REAL ECONOMY.

Had you any clue about what you were talking about, you might know this. But what can one really expect from someone that approaches everything with a High School Pep Rally or some sick kind of Sports Rivalry mentality, and perceives only the Propaganda that makes them feel good as actual reality, and treats anything to the contrary as some sort of Doom and Gloom, Conspiracy Kookery, Right Wing Paranoia fueled, Anti-Obama threat to "The Football Team."

Meanwhile, Helo Ben quietly giggles about his continued concern about unemployment, continues the reckless Monetary Policy and insane Monetization of the Debt and the devaluation of the Dollar, (which if it continues to decline would render your precious Golden Calf Dow MEANINGLESS), and the blissfully unaffected Pep Boosters like you will keep gobbling up everything that CNBC tells them, repeating it ad nauseum, like you know something.

The Dow has absolutely NOTHING TO DO WITH THE REAL ECONOMY.

"You guys who think that Kucinich could even win 40% in a general are the ones not living in the real world."

And people like you who keep insisting that we cling to Corporatists and Fascists to run the country, and keep engaging in this senseless false paradigm of Fake Political Kabuki Theater, instead of supporting people like Kucinich, are a big part of the problem why LEGITIMATE Candidates like him, who actually WOULD REPRESENT THE INTERESTS OF THE PEOPLE, can't get any leverage to make meaningful, real change.

No, because Status Quo addicts like you want their Comfort Bubble at any cost, and we can't have any real change interfering with THAT.

"You guys will be the ones on Friday when the unemployment rate comes down to 9.4 or 9.5% telling us how it's not really good news."

ANYONE who would, with a straight face, sit here and tell us that 9.5% unemployment is somehow "Good News" is so delusional they wouldn't know what reality looks like in the first place.

Snark at us when it's 4-5%.

Then you might have something to talk about.

For right now, I'm sure the 2,000,000 who just lost their Unemployment Benefits, that you conveniently IGNORE, would be more than happy to tell you where to stick your "Good News".

Now, go strap on your Propaganda feedbag and let Kramer and Kudlow tell you what reality is, and cocoon yourself from actual reality.

Chop, Chop Now! Fast Money is On Soon!

:crazy:

[Laelth]

57. +1 n/t

-Laelth

[donco6]

77. Will a company's stock rise or fall if -

If they determine that moving their operations to China will save 50% on operating costs and increase the overall profit margin by 18% overnight?

I'm thinking the stock market uses a different metric for "successful economy" than most of us are envisioning.

[dmallind]

101. People said that, just as histrionically, a year ago.

I was besieged with ridicule for calling stocks a bargain. People predicted (but would never bet with me on) DJIA closes anywhere from 4000-6500, confidently, within a year, following morons like Kunstler who have done the same 3 or more years in a row and still get even greater morons believing them. My 3 401ks have made 16,11.2 and 9.4% in that year, all tax deferred and with a free 50% from my employer added to my contributions. Looks real to me.

[Orsino]

76. The Dow is a measure of how fast the rich are stealing from us.

But they count on our believing in it as a measure of general health.

It's how we got here they last several times, isn't it?

[Roland99]

83. Wow, how did I miss this blob of uneducated goo?

"The Dow is a leading indicator of economic growth or weakness"


:wtf:

[DrDan]

87. oops

[Safetykitten]

89. Crow. How do you like it served?

[northernlights]

90. oops. Unemployment rate UP to 9.8%

but hey, the market went up one day. Clearly that's a trend. :eyes:

[Safetykitten]

92. Everyone knows the market is the leading indicator of the economy and weather patterns....silly!

[ProudDad]

23. WRONG!

This is why it's up today...

http://news.yahoo.com/s/ap/20101201/ap_on_go_pr_wh/us_deficit_commission

The cat food commission final report...

What's BAD for workers and the Real Economy is good for the Ponzi-Scheme Casino...

[polichick]

29. Yeah, that and the coming tax cuts for the wealthy. nt

[ProudDad]

31. Yep, you've got it!

:hi:

[TriMera]

38. Yep. n/t

[TwilightGardener]

26. Kickity and rec. Good news is good.

[ProudDad]

27. Sure be nice

if there was a transaction tax on this casino... :shrug:

[former9thward]

28. What is your answer when the Dow drops 200 points?

Did the recovery end that day? The Dow was done 1% for the month of November. To make sweeping conclusions based on daily Dow averages never works out.

[JoePhilly]

34. Yes ... but ...

Here on DU, if the DOW loses ground, there is a segment of DU who cheers.

As an example ... back in July, the DOW dropped to ~9700. DU went wild with predictions that FINALLY, the DOUBLE-DIP Recession was here, and the 2nd great depression was minutes away.

At the time I pointed out this ...

From 2000-2006, the DOW ranged from roughly 10,000 to 12,000 ... give or take.

In 2007, we saw a spike based on nothing (oil speculation), past 12k, 13k, and to 14k. If you were smart, you started to take gains in the 13k range.

And then, just as fast, or actually FASTER, the DOW fell ... 13k, 12k, 11k, 10k, 9k, 8k, 7k ... down to 6.5K in March 2009.

At that time it was the right wing hoping that the DOW fell further. They were calling for a DOW of 2k. Personally, I hope those fools had 401ks and converted it to CASH at 6.5k.

By Jan 2010, just 8 months or so later, the DOW was back to 10,500.

Since then the DOW has challenged a low of around 9600, and a high of about 11,300.

Which is very close to the same running average from 2000-2006.

And so ... as for recovery ... the DOW is now running in about the same range that it did prior to the collapse ... which I tend to see as a recovery. Not a huge gain, but a recovery. If you had a 401k before the collapse, and you still have it ... then it should now be worth about what it was worth when the recession started (ignoring new contributions which would have been purchased LOW).

When I look at my 401k charts, the trend line is actually pretty stable. There us a bump for the bubble, and a dip for the crash, but the overall trend line passes pretty much straight through both.

Now ... if the market hit 12k again, I will shift things to capture and protect some gains. My view is that the large DOW swings should now be close to over.

[Imajika]

35. It appears there is a segment of the DU population...

...that are actively hoping for bad news.

Not entirely sure why. Perhaps they are itching for a collapse of the current order thinking it will usher in some new age of progressivism.

For hard core political ideologues, big earthshaking changes are exciting. A slow, but steady improvement in the economy must be boring for some - and under those circumstances free market America won't fall.

You can see it with the wikileaks dump. Something that most certainly damages a Democratic administration and makes it harder for Obama to conduct diplomacy is cheered by some. The reason seems to be because they believe it will somehow herald an end to the "empire". It won't of course, but many seem to think so.

The bottom line is the economy is slowly improving. Unemployment remains a major problem, but we may be turning a corner.

The world isn't coming an end, American "empire" will not fall, life goes on, the economy will probably be in much better shape by 2012 and Obama will almost certainly be reelected.

[Name removed]

40. Deleted message

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[Name removed]

47. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Dr.Phool]

48. You mean Phool!

Accept no cheap imitations.

[TheWatcher]

49. There could be no cheap imitations of you, Dear Doctor.

For you are truly One Of A Kind. :)

:toast:

Now, as Susan Sarandon would say to Barry Bostwick:

"Brad, Let's Get Out Of Here...."

[hamerfan]

44. I would like nothing better

than a slow,but steady improvement in the economy. Unfortunately, this is not it.
Raygun, in the 80s, proved that changing the yardstick one measures by would change people's perceptions of the measured reality.
“Those who fail to learn from history are doomed to repeat it.”
Sir Winston Churchill
I couldn't put it any better.
hamerfan

[JoePhilly]

66. That's about where I am.

You regularly see posts on DU that seem to suggest that the country needs to burn to the ground so we can rebuild it in some way.

And what I find interesting is that if you change a few of the reasons given to call for the collapse a little, you quickly end up in a world of anarchy similar to what so many of the Tea Party seems to want.

[treestar]

72. Amen, and it is not only delusional but evil to wish for

some sort of disaster - which could lead to right wing revolution as easily as left wing and could certainly threaten our system and its Bill of rights and all that flows from that. The suffering they wish on others to see their political dreams fulfilled - just plain wrong.

[golfguru]

30. 100,000 apply for 1000 jobs

http://abcnews.go.com/Travel/delta-air-lines-hiring-1000-flight-attendants-international/story?id=12279939

Another sign of this wonderful jobless recovery.
But Wall Street & Stocks are doing just fine, thank you. Big jump today!

[boppers]

36. So, there weren't 1,000 jobs?

How is 1,000 job openings "jobless"?

[ProudDad]

41. Oh, please...

:eyes:

[Cherchez la Femme]

95. Spinniest of the week, I'd say

:rofl:

[Dr.Phool]

42. Can you comprehend what you're reading?

There's 99,000 more who want a job that can't get one.

Remember Bush's "jobless recovery". This one is worse.

[boppers]

62. Would 1 job opening be "jobless"?

How about 3 million openings, would that be "jobless"?

[golfguru]

79. Keep some sense of proportion

When 100 people are after 1 job, that is scary situation for those
who do not have a job.

[Dr.Phool]

43. Nominated for most ridiculous post ever.

Two out of Two dogs agree.

[ibegurpard]

58. seconded

[Name removed]

71. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Name removed]

45. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[Cali_Democrat]

50. Let me tell you why the Dow Jones and other indices are no indication of economic health

The Dow Jones is up about 4,700 points since it's low in March of 2009. Currently it is at 11,255. That's an increase of about 72%.

This is similar to other indices like the S&P 500 and the Nasdaq. So if you have a well balanced portfolio weighted according to the major indices, you've gained 72%. Not bad.

Of course, the rich and wealthy are mostly invested in the market.

The question comes in, is this country 72% better off than in early 2009? Has unemployed been reduced by 72% since 2009? Are ordinary Americans 72% richer? Of course not.

To equate the stock market with the well being of a country is foolish and absurd. It only measure the well being of the rich and the investor class.

[thanks_imjustlurking]

56. Amen, brethren and sistren. nt

[dmallind]

102. there are still well over 40% of Americans with equity investments

we ALL saw gains.

[ShadowLiberal]

54. The Stock market goes up and down like crazy, 1 day proves nothing

Besides, the stock market has been overvalued for a while, especially at the worst parts of the recession.

[Politics_Guy25]

59. Economics 101 for beginners!!

You all need a refresher.

Please point your browser here:
http://economics.about.com/cs/businesscycles/a/economic_ind.htm

Historically, the stock market is a leading indicator of US economic growth-not just a leading indicator but one of the TOP indicators.

To say that the stock market is totally disconnected from the economy is a joke. Why then did it crash in 2008 and during the Greek financial crisis/poor employment data of earlier this year?

Dow at 11,000 does not create jobs but it indicates that the environment is there to start creating jobs.

[Name removed]

60. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[jeanpalmer]

61. Why then did it crash in 2008 ?

Because it was built on sand. On excessive money printing and deficit spending, with funny money chasing housing, stocks, and oil. Once the con became apparent, the whole thing collapsed.

Today they're repeating the same process -- deficit spending on a larger scale and even more excessive money printing. Can the result be different this time, when there's been no substantive change? It's a defective strategy but it's the only trick in their bag. But that doesn't mean it can't go on for a while. Ride it while you can.

The stock market is a leading indicator, but it doesn't indicate soundness in an economy. An economy can be dysfunctional, but have a rising stock market. 2004-2007 is a perfect example. Looks like they're doing the same thing again, they never learn.

[JoePhilly]

78. No.

If you re-examine the market from 2000-2006 ... it stays in a range of about 10k to 12k. The spike occurs quickly and goes to 13k and then 14k in 07. If you were SMART, you took some GAINS in the 13k range because it had to come back down.

When it did fall, it fell due to FEAR ... 13k, 12k, 11k, 10k, 9k, 8k, in a few months. But that is the market, people jump in during a bubble, and run screaming if it falls. Unless you are in for the long haul.

Where is the DOW now ... 11,200 or so ... WOW ... right back in the same running average from 2000-2006. Both the SPIKE and the COLLAPSE were irrational and based on nothing.

When the DOW hit 8k, I increased my investment in it ... and when it hit 10.5k in Jan 2009 and again recently, I took some gains. If the DOW continues to go up ... say more than 4% in under 6 months, take gains and lock them in. If the DOW drops to under 10,500 you should consider adding more.

Pay attention to the running averages. Set some threshold on both ends, and you'll be fine.

But ... the world is not coming to an end.

[dmallind]

104. Doesn't matter how much data you bring, they still believe doomer fantasies. nt.

[YOY]

68. and war stimulates the economy! I remember that from 101.

Oh wait...they didn't give that line in Grad School in Econ. I recall the Prof saying that the rules have changes.

Perhaps just perhaps the DOW and Market as a whole has been realized to be bullshit as well.

[Donnachaidh]

67. This is an elitist headline

The wealthy in this country are such animals they now proclaim VICTORY while sucking the money they *claim* to have made from the middle class.

Fucking vultures. :grr:

[Orsino]

75. And it's cold today in my freezer, so global warming is a lie.

x(

[Dr.Phool]

81. Here's your latest jobs numbers.

Ain't quite what you predicted, is it?

Nov. factory jobs down 13,000
Nov. retail jobs down 28,000
Nov. jobless rate above 9.6% expected
Nov. jobless rate highest since April
Nov. payroll rise below 155,000 rise expected
Nov. jobless rate 9.8% vs 9.6% expected
U.S. Nov. nonfarm payrolls up 39,000

[Cherchez la Femme]

97. I believe I just read

that U.S. Nov. nonfarm payrolls were down, against (those?) expectations
FWIW

[TheWatcher]

82. So How Clueless Are We Now?

Unemployment Rate Rises to 9.8%.

Tell Us Again how it is "Morning In America".....

Tell Us Again How "The Recovery" Is In "Full Bloom".

Tell the 2,000,000 people who just lost their Unemployment Benefits this week they should be happy and carefree, basking in "Recovery."

This should be fascinating.

[Safetykitten]

88. I am waiting for this also.

[Roland99]

84. Guess that "recovery" just turned into an instant recession.

DJIA futures made a 100pt turnaround on this morning's job news.

[demwing]

85. Mourning in America?-Obama's jobless recovery now in full gloom as Unemployment ticks up to 9.8%

Unemployment Rises to 9.8% as U.S. Adds Just 39,000 Jobs

Payrolls increased 39,000, less than the most pessimistic projection of economists surveyed by Bloomberg News, after a revised 172,000 increase the prior month, Labor Department figures showed today in Washington. The jobless rate rose to 9.8 percent, the highest since April, while hours worked and earnings stagnated.

http://www.bloomberg.com/news/2010-12-03/u-s-added-39-000-jobs-in-november-unemployment-rose-to-9-8-.html

And while we're on the subject of folks without jobs:

A second attempt to extend federal unemployment benefits failed yesterday in the Senate.

A second attempt to pass an extension of federal unemployment benefits was blocked in the Senate yesterday, this time by Republican John Barrasso from Wyoming. What is somewhat surprising is that Barrasso didn't have a clear understanding of what he was objecting to.

"This is about people who have been collecting unemployment benefits for 99 weeks," said Barrasso, describing the bill he just blocked.

Only the bill to which he objected is not about extending unemployment benefits to so-called 99ers — those who've already exhausted all the federal unemployment benefits available to them. The bill being considered does nothing to help those people. In reality, what the bill does is allow people who have been laid off more recently the same chance to collect up to 99 weeks as those laid off earlier in the recession. Without an extension, many unemployed people will collect only the 26 weeks of benefits offered by the states. Barrasso was corrected on the Senate floor by one of his colleagues.

Sen. Barbara Boxer (D-Calif.) interrupted Barrasso to correct him. "I just want you to understand that this extension is not for anything beyond 99 weeks," she said. "We do not have any extension beyond 99 weeks. I just wanted my friend to know that."

http://www.mlive.com/michigan-job-search/index.ssf/2010/12/a_second_senate_attempt_to_extend_federa.html

Yeeeessssss, recovery is in full bloom, alrighty!

[TheWatcher]

86. Attention Class. Please set your Browsers to About.Com for today's lesson in Economics 101.

Today's Lesson:

Jobless Recovery: How Cognitive Dissonance and Positive Thinking can Will You To Prosperity. No Job Required!



:rofl:

[brentspeak]

94. Do you think the OP would mind if his thread got kicked?

[DemocratSinceBirth]

96. I Can't Believe The O P Believed What He Wrote

~

[Odin2005]

98. Recovery my ASS!

maybe for the Elite bankster class. Simple GDP growth does not tell you where the new wealth is going, it's ALL going to the rich.

[rucky]

99. Totally true!

if you're rich.

[Beacool]

100. More like the twilight of America.

Why employers won't hire

NEW YORK (CNNMoney.com) -- The problem with bringing down the stubbornly high unemployment rate is that employers are learning to do more with less.

Employers still aren't hiring enough. Just look at November's disappointing employment report, which barely eked out a gain in jobs. Or better yet, look at the holiday workers at your local mall. If you can find them.

Retailers, who are reporting a strong start to the holiday shopping season, are apparently doing so with less help than in the past.

The Labor Department reported a drop of 28,000 retail jobs in the month in its employment report once it adjusted the numbers for seasonal factors. Except for 2008, when the economy was in the process of falling off a cliff, there hasn't been such a weak November for retail payrolls in in 29 years.

http://money.cnn.com/2010/12/03/news/economy/employers_doing_more_with_less/index.htm

:(

[Hell Hath No Fury]

103. "...in full bloom..."

On what frickin' planet? Really? No presents (again) for my family this year. No friends of mine are traveling. I have spent the last week downtown decorating and the shopping areas are all but dead -- nowhere near the traffic I've seen in past years. Everyone I know is still living on the bubble.

But than I don't hang out with the wealthy, just regular working folk. :shrug:

[Politics_Guy25]

105. This is not a reply to the above post but to the tone in general of this thread

Why do so many of you here on DU want America to fail just like Rush Limbaugh?? Your own political ends perhaps??

[Politics_Guy25]

106. The desire to see the first African American president fail is just breathtaking-n/t

[Hell Hath No Fury]

111. When you got nothin' else, play the race card.

:puke:

If having the first African American president "succeed" means being tied to the corrupt health insurance industry against my will, or having our country further bankrupted by two failed wars, or facing a badly changed Social Security system, or continued violations of the Geneva COnvention, or the further erosion/privatization of the public school system under the guise of "reform", then damned right, I hope Obama FAILS.

And it ain't because he's black, it's becasue his policies are becoming increasingly damaging to folks like me and our country.

[Politics_Guy25]

107. To TheWatcher

I suppose what you want me to say and what you want to hear is this:

President Obama's policies are worse than George W. Bush's, President Bill Clinton's policies were better as were George W. Bush's and the American economy will never ever recover. Obama must be removed as president ASAP.

There, now I said what you want me to say and believe.

[Zenlitened]

108. Strawmeme. - n/t

[Hell Hath No Fury]

110. What a load of unmitigated GARBAGE!

Is that the best you've got? "You're just like Rush!" :eyes: :crazy:

Get this in your thick skull:

I want America and her citizens to succeed.

And under President Obama we are not succeeding, no matter how hard you try to convince us otherwise.

We are on the precipice as a country, and Obama's past actions have shown us that he is unwilling to take the bold, decisive steps needed to keep the United States of America the country I grew up with.

[Politics_Guy25]

112. What? George W. Bush and Ronald Reagan?

Don't share most of the blame for the situation that we are in today?? Not to mention the unprecedented GOP fillibuster in the senate. Or is it all just a half term president, Barack Obama's, fault?