Valin Posted September 2, 2011 Share Posted September 2, 2011 Reuters:9/2/11The symbolism of today’s payrolls report — ZERO — would be bad enough even if it wasn’t coming out in advance of the Labor Day weekend. There’s a pattern here: no matter how bad Wall Street thinks the employment report is going to be, it always seems to be worse, these days. It’s like GE’s earnings circa Jack Welch, but in reverse.It’s increasingly looking as though the government is utterly incapable of creating jobs, but is actually pretty effective at destroying them. It’s doing so in a direct, literal way — there were 17,000 fewer government employees in August than there were the previous month, and local government has lost more than half a million jobs since September 2008. And it’s also doing so in an indirect way — there can’t be much doubt that a significant part of the jobs weakness is a function of the anger and uncertainty caused by the utter dysfunction of the legislative branch of government.Hiring and firing decisions, of course, happen slowly — and they often happen after the summer. The jobs situation, which is always cyclical, now seems to be in a downturn rather than an upturn, which raises the prospect of a negative payrolls figure in September and further gruesome news over most of the 2012 election year. President Obama can speechify all he wants on Thursday, but I can’t imagine that he’s going to be able to get anything substantive through the House — not when Eric Cantor is demanding that even emergency hurricane relief be paid for with spending cuts.(Snip) Link to comment Share on other sites More sharing options...
Evad Posted September 4, 2011 Share Posted September 4, 2011 Krauthammer agrees.. this is the ZER0 president Link to comment Share on other sites More sharing options...
Valin Posted September 4, 2011 Author Share Posted September 4, 2011 Krauthammer agrees.. this is the ZER0 president Obama Is In Over His Head Link to comment Share on other sites More sharing options...
pollyannaish Posted September 5, 2011 Share Posted September 5, 2011 I notice Felix blames it on the GOP. Journalists these day are exposing their biases so nakedly it's shocking. Link to comment Share on other sites More sharing options...
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