PiLfan Posted May 8, 2009 Share Posted May 8, 2009 April unemployment figures are out. News is both good and bad. While the pace of job cuts slowed much better than expected (loss of 539k vs. the 620k most were expecting), firms are still not hiring, and unemployment rose to near 9%, highest since 1983. http://www.washingtonpost.com/wp-dyn/content/article/2009/05/08/AR2009050800394.html Link to comment Share on other sites More sharing options...
Burgold Posted May 8, 2009 Share Posted May 8, 2009 takes a bit of the blush off the recent stock rallies. I guess this is "better" news, but for too many it's still terrible news. Link to comment Share on other sites More sharing options...
Old Dominion Monarch 06 Posted May 8, 2009 Share Posted May 8, 2009 and unfortunately I'm one of the 'too many' you're referring to. Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted May 8, 2009 Share Posted May 8, 2009 This economy sucks and is going to for a while Like many small business owners, I have seen business go from booming in 2003-2006, to just about nil now. This time in 2004 I had about 60-70 leads for the year. So far this year 3 Link to comment Share on other sites More sharing options...
December90 Posted May 8, 2009 Share Posted May 8, 2009 With our current Federal Policies going the way they are, it will not surprise me when unemployement hits double digits. How many of you remember the last time we had a Democrat in the White House with a democrat controlled House and Senate? Remember those booming Carter years? Here we go again... Link to comment Share on other sites More sharing options...
PiLfan Posted May 8, 2009 Author Share Posted May 8, 2009 How many of you remember the last time we had a Democrat in the White House with a democrat controlled House and Senate? Remember those booming Carter years? Here we go again... Didn't we have a few years of a democrat controlled House and Senate when Clinton was first inaugurated? Link to comment Share on other sites More sharing options...
Burgold Posted May 8, 2009 Share Posted May 8, 2009 Honestly, what we are seeing is the hangover from the Bush years still. Mind you, not even necessarily a hangover from Bush's misdeeds, but what was done while he was in office. It is to be seen, but it will take years to know how Obama's tinkering has aided or damaged us. Link to comment Share on other sites More sharing options...
Prosperity Posted May 8, 2009 Share Posted May 8, 2009 as far as good news goes, that's the crappiest I've heard Link to comment Share on other sites More sharing options...
PleaseBlitz Posted May 8, 2009 Share Posted May 8, 2009 Employment figures are a lagging indicator. We arent at the end, but it's getting close. Q4 this year should (hopefully) be when all the numbers start looking positive. Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted May 8, 2009 Share Posted May 8, 2009 Employment figures are a lagging indicator. We arent at the end, but it's getting close. Q4 this year should (hopefully) be when all the numbers start looking positive. Hopefully. But I remember in early 2008 when Bernake and Paulson were talking about the economy growing in late 2008. On the ground, this thing is an utter disaster right now Link to comment Share on other sites More sharing options...
GibbsFactor Posted May 8, 2009 Share Posted May 8, 2009 So what's going to be the bombshell over the summer/fall that sinks us to new lows again, historically, it will happen. Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted May 8, 2009 Share Posted May 8, 2009 So what's going to be the bombshell over the summer/fall that sinks us to new lows again, historically, it will happen. Commercial real estate? A whole new wave of foreclosures? More layoffs (although I'd imagine now most places have trimmed all the fat they can afford to trim without just completely closing shop) Or just a whole new mentality that the party we have had since 1983 is pretty much over and "full" employment is 8-9 percent unemployment Link to comment Share on other sites More sharing options...
PiLfan Posted May 8, 2009 Author Share Posted May 8, 2009 So what's going to be the bombshell over the summer/fall that sinks us to new lows again, historically, it will happen. unless it doesn't... Link to comment Share on other sites More sharing options...
PleaseBlitz Posted May 8, 2009 Share Posted May 8, 2009 So what's going to be the bombshell over the summer/fall that sinks us to new lows again, historically, it will happen. The major banks will announce that the profits they announced in Q1 were just due to tricky accounting and they are still in big trouble and need another bajilliion dollars from We The People. Link to comment Share on other sites More sharing options...
Larry Posted May 8, 2009 Share Posted May 8, 2009 So what's going to be the bombshell over the summer/fall that sinks us to new lows again, historically, it will happen. Another wave of $4 gasoline? Although, maybe the rotten economy will keep demand low, this year. Link to comment Share on other sites More sharing options...
81artmonk Posted May 8, 2009 Share Posted May 8, 2009 I thought Obamas porkulous package was supposed to fix all this. I mean, it was suppose to be "shovel ready jobs". Link to comment Share on other sites More sharing options...
@DCGoldPants Posted May 8, 2009 Share Posted May 8, 2009 creepy. Its exactly how the talking heads said it would go. Market would start turning around, and then 6-9 months later....jobs would follow. Then the other idiot blowhards who want this to all fail, will be caught mid-sentence looking stupid again. Link to comment Share on other sites More sharing options...
SnyderShrugged Posted May 8, 2009 Share Posted May 8, 2009 Another wave of $4 gasoline? Although, maybe the rotten economy will keep demand low, this year. I've heard (just word of mouth stuff on the web) that congress has been discussing a Gas price "floor" to go along with the Green push. I know it sounds outlandish, but they mention somewhere around $6 per gallon floor. The rationale is to maintain tax income while oil prices drop and to "inspire" us to be more "green". again, take it with a grain of salt because I am not sure of how valid those caims are. Link to comment Share on other sites More sharing options...
MrMarcus1914 Posted May 8, 2009 Share Posted May 8, 2009 He did it. The aircraft carrier known as the American Ecnomy is turning around. Jobs will follow, and then the GOP will be known strictlyas the Say No party, and the ones that made this situation happen in the 1st place. Good too. They need to revamp their ideals. They use to stand for progress, now the stand for regress. Link to comment Share on other sites More sharing options...
Oldskool Posted May 8, 2009 Share Posted May 8, 2009 It's worse over here. Almost 10% statewide and over that in certain agricultural areas. Link to comment Share on other sites More sharing options...
Oldskool Posted May 8, 2009 Share Posted May 8, 2009 creepy. Its exactly how the talking heads said it would go.Market would start turning around, and then 6-9 months later....jobs would follow. Then the other idiot blowhards who want this to all fail, will be caught mid-sentence looking stupid again. So far they are still blowing smoke out their blowholes. Consumer confidence is flat, more jobs are lost than the government came "make". If it turns around, that's great. History has proven that this will take a while. Link to comment Share on other sites More sharing options...
Riggo#44 Posted May 8, 2009 Share Posted May 8, 2009 He did it. The aircraft carrier known as the American Ecnomy is turning around. Jobs will follow, and then the GOP will be known strictlyas the Say No party, and the ones that made this situation happen in the 1st place. Good too. They need to revamp their ideals. They use to stand for progress, now the stand for regress. ...Even though it was Clinton's policies that set Freddie Mac and Fannie Mae up to fail... Link to comment Share on other sites More sharing options...
Duckus Posted May 8, 2009 Share Posted May 8, 2009 Consumer confidence is flat U.S. consumer confidence soared in April WASHINGTON - Hopeful signs that the worst may be over for the economy boosted Americans' moods in April, sending a closely watched barometer of sentiment to the highest level since November. The New York-based Conference Board said Tuesday that its Consumer Confidence Index rose more than 12 points to 39.2, up from a revised 26.9 in March. The reading marks the highest level since November's 44.7 and well surpasses economists' expectations for 29.5. http://www.msnbc.msn.com/id/30454387/ http://www.foxbusiness.com/story/consumer-confidence-surges--april/ Consumer confidence is moving in the right direction. Great? No. Improved? Very much. Link to comment Share on other sites More sharing options...
Larry Posted May 8, 2009 Share Posted May 8, 2009 I've heard (just word of mouth stuff on the web) that congress has been discussing a Gas price "floor" to go along with the Green push.I know it sounds outlandish, but they mention somewhere around $6 per gallon floor. The rationale is to maintain tax income while oil prices drop and to "inspire" us to be more "green". again, take it with a grain of salt because I am not sure of how valid those caims are. 1) Did the same person also tell you that Obama was one of those Muslim Communists sleeper agents? 2) I've actually been saying for a while that I wouldn't object to Congress passing a law saying that they're going to raise the gas tax, say, by 50 cents a year, for 10 years. My reasoning being that sudden increases in gas prices don't really encourage people to change their behavior, all it does is really eff things up for everybosy, and especially for the poor. Whereas, my theory is that if the people have 10 years advance notice that prices are going to be going up, then even The Average American might actually do some advanced planning, and factor those increases into their plans. (I know. I'm an optimist.) 3) I've also pointed out that I don't think it's possible for a government "floor price" to generate revenue for the government. Here's why: Suppose I own a gas station. The government passes a law saying that if I set a price that's below $5 per gallon, then the government will automatically raise my taxes until the price is at or above $5. The result of such a law will be that I'll charge $5, whether I want to or not. Suppose that the price I'd charge, absent the floor tax, was $4. What that law means is that the price my customers are going to see on the sign outside my station is $5, no matter what price I set. The only decision I get to make is whether the government gets that dollar a gallon, or if I do. Guess which one I'm going to pick? (The same thing happens if the government, say, creates a floor price on imported oil. It simply guarantees that Exxon will charge itself that price when the tanker pulls into port.) IMO, a government-enforced "floor price" can certainly cause a floor price. But it will not generate government revenue. None whatsoever. Link to comment Share on other sites More sharing options...
Larry Posted May 8, 2009 Share Posted May 8, 2009 It's worse over here. Almost 10% statewide and over that in certain agricultural areas. Yeah, but that's cause y'all are hippies who hate all business and don't vote Republican. Link to comment Share on other sites More sharing options...
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