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Title: Wall Street Jumps on Jobs Data; Oil Falls More
Source:
New York Times
URL Source: http://www.nytimes.com/2011/05/07/business/global/07markets.html
Published: May 6, 2011
Author: THE ASSOCIATED PRESS
Post Date: 2011-05-06 10:24:28 by lucysmom
Keywords: oil, jobs, economy
Views: 46455
Comments: 53
The biggest corporate hiring spree in five years is reversing a weeklong slide in the stock market. Add to Portfolio The government, in its latest snapshot on employment, said the economy added 244,000 jobs overall last month, well above the 185,000 jobs that analysts had forecast. Private employers created 268,000 jobs , the report said. The unemployment rate rose to 9.0 percent from 8.8 percent in part because it counted more people who resumed looking for work. Indexes jumped sharply at the open, with the Dow Jones industrial average rising 131.08 points, or 1 percent. The broader Standard & Poor’s 500-stock index gained 13.72 or 1 percent, while the technology heavy Nasdaq rose 25.81, or 0.92 percent.
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Begin Trace Mode for Comment # 29.
#1. To: Capitalist Eric, A K A Stone, Fred Mertz, Godwinson, go65, war, no gnu taxes, Skip Intro, ferret mike, jwpegler, brian s, mcgowanjm (#0)
Oops, bad news, guys.
You believe everything the propagandists tell you, don't you? They tell you unemployment is 9.X%, and you think we're just doing swell, right? During the Great Depression, unemployment was 25-35%... Our real unemployment rate is currently about 23%, when you strip away all the government manipulations to the numbers. If you were paying attention, this would already be evident. Oh, you don't want to talk about that, let's talk GDP, yes? "Helicopter Ben" Bernanke claims we're growing at around 2%... But again, when you strip away the manipulations, REAL GDP is in the negative territory, and has been so for over ten years... Of course, if you were paying attention, that would have been no surprise... How about INFLATION? "Helicopter Ben" also tells us that inflation is ~2.5%... But a trip to the grocery store will tell you it's a lot higher... Right around 10%, at the moment... In all seriousness, you need to turn off the TV, and start paying attention for yourself... This country is headed over the financial cliff, and there's nobody in D.C. with both the clout and strength, to stop it. That's the truth. And whether you identify yourself with an "R" or a "D" won't mean diddly-shit... It's not about politics, "partisanship" or whatever PC- term you want to use... it's about numbers, economics. In short, we're OUT of money. Our credit-cards are maxxed-out, and we're not even able to make minimum payments. GET IT?
So then you admit Bush and his Republican majority and tax cuts trashed the economy.
It's been on a downward trend since the mid-80's. This can also be seen below... If you look strictly at manipulated GDP numbers, you could say, "oh, we've been growing all this time." But our government has been borrowing heavily, to maintain that illusion, leading to where we are now... As I told you before, BOTH sides of the aisle are responsible. A "republican" president with a democrat congress, a "democrat" president with a republican congress... No matter who sits in the White House, the trend continues unabated. Now... can you get PAST this R vs. D false-dichotomy?
This can also be seen below... If you look strictly at manipulated GDP numbers, you could say, "oh, we've been growing all this time." But our government has been borrowing heavily, to maintain that illusion, leading to where we are now... Mid 80s - are we talking about saint Ronald and his voodoo economics?
#35. To: lucysmom (#29)
And the democrat congress... look at the signature of go56, to understand the significance of that fact... Do you get that it's not a R vs. D thing yet? Do you get that it's a BANKSTER thing yet??? Do you understand that the Fed put together a national PONZI-scheme???
Top • Page Up • Full Thread • Page Down • Bottom/LatestThe government, in its latest snapshot on employment, said the economy added 244,000 jobs overall last month, well above the 185,000 jobs that analysts had forecast. Private employers created 268,000 jobs , the report said.
#17. To: lucysmom (#1)
Oops, bad news, guys.
#20. To: Capitalist Eric (#17)
But again, when you strip away the manipulations, REAL GDP is in the negative territory, and has been so for over ten years...
#25. To: lucysmom (#20)
So then you admit Bush and his Republican majority and tax cuts trashed the economy.
#29. To: Capitalist Eric (#25)
It's been on a downward trend since the mid-80's.
Replies to Comment # 29. Mid 80s - are we talking about saint Ronald and his voodoo economics?
End Trace Mode for Comment # 29.
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