“the economy is getting stronger by the day.”
So said Obama today applauding the 431,000 new jobs reported by labor. It really makes me question his intelligence. Of those 431,000 jobs, only 41,000 were private sector. The rest were mostly made up of temporary census jobs. And there are certainly some number games being played there. (hiring, letting go, then re-hiring) But what a perfect picture of what is going on and what Obama’s liberal fiscal policies are doing. The worst part of it though is that Obama is promoting this as a good thing. Even Harvard Business School had to come to the conclusion that more government spending means fewer jobs.
I can hope against hope, but it appears we will be stuck with backwards 1930′s liberal logic until we vote them out of office. Only that kind of logic can lead to the conclusion that adding 411,000 temporary census worker jobs is a good thing for the economy.
For those who are bored at work, here is the morning bell post from the Foundry that is filled with enough links to keep you busy for a while.
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I think that the tide is turning on President Obama. There are too many things taking place right now for the honeymoon to continue, Sestak, Colorado Rep, Blago, the economy and the oil leak. His leadership, at some point, has to be questioned. After I heard his comments today on the job numbers, I was amazed. If I were in his position, I would be ashamed to promote the numbers and hope that no one was paying attention.
The good news and bad news, is that the investors saw through the fake numbers today. The market took a big hit and I think we are getting closer to the true value of where we should be.
Indeed…both his leadership and his policies. Maybe this will be an education for those young voters who voted for Obama.
yes, truly unbelievable that obama spins those jobs numbers in a positive scenario. not only did we gain only 41k new jobs, we need to create 150k per month just to keep up with new entrants into the job market. in 1934 no one was talking about a depression even though the country was deep into a serious depression. we have been in depression since march 2009 and will continue into depression for at least 5 more years. i have an economics background and follow the economy very closely. fiat currency has failed in every civilization in the history of the world. roman, bizzantine, ottoman, english, greek, persian, viemar, etc… we need a new fiscal and monetary system to emerge. one that involves at least 50% backing by hard commodities such as crude oil or precious metals. and laws requiring balanced budgets, glass steigal, and term limits. capital is created by savings and producing. the u.s. borrows and spends. the house of cards is crumbling and with it the reserve currency of the world. expect another trillion dollar stimulus within 12 months. things will continue to decline. the only thing the government can do is print more money. that is it! they have nothing else in the quiver. the government is buying its own treasuries through the federal reserve bank by initiating currency swaps. we are trading foreign governments dollars for their currency then they are purchasing treasuries with our dollars. this is extremely harmful to our currency.
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