The US economy is still in a sorry state

[Ptarmigan]

The US economy is still in a sorry state
http://www.ft.com/intl/cms/s/0/48da980c-03dd-11e2-9322-00144feabdc0.html#axzz27LRmZezg

Were he a better politician, Mr Romney would have seized on a report earlier this month that showed a sharp fall in US competitiveness. In 2007, the US was ranked first by the World Economic Forum, which published the report. By 2011 it had fallen to fifth. This year it dropped to seventh. The chief culprits are bad governance, macroeconomic instability and declining infrastructure. Here, too, the American trend points the wrong way.

[I_B_Perky]

No shit!!! It's all Bush fault though according to the libs.   

[J P Sousa]

  Were he a better politician 

Yes.

I'm getting worried that what we have for a candidate is a very good accountant and manager but.............


What we now have for a president is just a very good con-man.

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[Lacarnut]

Yes.

I'm getting worried that what we have for a candidate is a very good accountant and manager but.............


What we now have for a president is just a very good con-man.

.

Romney better crank it up in the debates and go after Obummer like shit on stink.

[NHSparky]

Sorry, but Romney HAS been pushing this.

The MSM (and FT) have chosen to simply ignore this.

[Zeus]

October 8, 2012
The 7.8% Unemployment Rate in Context
Yossi Gestetner

I agree with the editors of Saturday's Wall Street Journal who argued that resorting to conspiracies to explain the drop in the Unemployment Rate detracts from the issue at hand: The job market is a bloody mess even with the numbers given. Here are some examples:

● The 7.8% UR is as bad as January 2009 when we were deep in the "worst recession since the great depression." How is this good news?

● In September 2008, exactly four years ago, the UR was at 6.1%. At the time we were headed downhill, but if after three years into a "recovery" and "heading in the right direction" we are worse off than deep into "The Bush Recession", then it's time for new policies.
● Obama noted Friday that "more people entered the workforce" in September. If he is aware of the workforce size, then he perhaps also knows that 1.1 million left the workforce since January, giving us a rate of 7.8% instead of 8.3%.

● If millions had left the workforce during the final Bush months at the same rate as they have left under Obama, the 7.8% UR of January 2009 would be 4.9%! Alternately, if the workforce (counted as those who have jobs or who are looking for a job) was now as large as it was when Obama came into office, the UR in September would be 10.7%.

● Speaking of September unemployment uates, here is how they looked throughout the "failed Bush years":
September 2002 -- despite the dot.com bust, 9/11 attacks; 1990s business corruption exposures: 5.7%.
September 2004, just before the Bush re-election: 5.4%.
September 2006, before the midterms: 4.5%.

September 2008, a year into a recession: 6.1%. The numbers would be lower had millions left or simply not joined the workforce as it is now happening in the Obama 'recovery'.   
                   
And to those who compare the current falling UR to 1984, when Reagan ran for re-election, keep in mind that it fell because from January through September of 1984 the economy gained... 3.1 million jobs! That's a rate of 345,000 jobs per month vs. the 2012 rate of 145,000 jobs per month.

But of course... "trickle down" didn't work, yet the stimulus is doing great...
 

[Chris_]

Obamanomics: 7.8 is the new 5.4

[Zeus]

Obamanomics: 7.8 is the new 5.4

Gotta increase the 47% to 51% or higher.

[BlueStateSaint]

And now this, from CNBC . . .

US Nears Fiscal Disaster: ‘Washington Doing Nothing’

Published: Thursday, 11 Oct 2012 | 1:24 PM ET

By: Jeff Cox
CNBC.com Senior Writer

The U.S. is heading towards fiscal disaster and no one in Washington is doing anything about it, the authors of the Simpson-Bowles reform plan and Goldman Sachs CEO Lloyd Blankfein told CNBC Thursday.

"People are never going to understand how critical this particular time in history is," said Erskine Bowles, the North Carolina businessman and co-chairman of President Barack Obama's National Commission on Fiscal Responsibility and Reform. "We have $7.7 trillion worth of economic events that are going to hit America in the gut in December, and in Washington they're doing nothing about it."

Bowles' co-chair on the commission was former Wyoming Sen. Alan Simpson, who said political culture in Washington is preventing any action to address what is known as the "fiscal cliff."

"They're both in this," Simpson said of the warring Democratic and Republican parties. "They worship the god of re-election."

Wall Street titan Blankfein said resolving the conflict would go a long way toward rejuvenating confidence in the financial markets.

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For those who are prepping, keep going . . . http://www.cnbc.com/id/49375694