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On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the latest jobs numbers, which put unemployment at 9.8%, and how plans by Obama’s deficit reduction committee may impact small businesses.
We’re brought to you as always by BigGovernment and Stephen Clouse and Associates. If you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.
Related Links:
Jobs Up 39,000, Well Below Hopes as Rate Hits 9.8%
Commission’s final deficit report preserves controversial spending cuts; panel to vote Friday on whether to endorse plan
Report of the National Commission on Fiscal Responsibility and Reform
Hotline Whip Count: Deficit Commission Looks Dead
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And it was
Gmac Friday, December 3rd at 10:36AM EDT (link)All together now!
“Unexpectedly”
Just like the previous months this year it’s happened.
Govt. creates jobs like I lay golden eggs.
johnt Friday, December 3rd at 10:44AM EDT (link)The tooth fairy exists !
Yep, “it’s all about jobs, jobs, jobs”. You all realize that it’s news like this that’s driving liberals{ ?} into deeper paroxysms of uncontrollable rage, which naturally makes all the rest of us racists. That follows doesn’t it?
Save for the election it could have been worse, remember the babble about the viability of a VAT? God, how the cannibals wanted that.
“a man’s admiration for absolute government is proportinate to the contempt he feels for those around him”. Tocqueville
Just wait until the Obama tax hike hits business owners square in the pocketbook
izoneguy (Diary) Friday, December 3rd at 11:37AM EDT (link)Unemployment “officially” will hit 12%-14% with-in a few months.
Unoffically it will be more like 25%.
The stock market will tank and then let’s see what a Republican house will do. As long as the Marxist in Chief is around the out look for future economic growth is dim.
Those who had once simpered: “I don’t want to destroy the rich, I only want to seize a little of their surplus to help the poor, just a little, they’ll never miss it!” – then, later, had snapped: “The tycoons can stand being squeezed; they’ve amassed enough to last them for three generations” – then, later, had yelled: “Why should the people suffer while businessmen have reserves to last a year?” – now were screaming: “Why should we starve while some people have reserves to last a week?” – Atlas Shrugged
Obama should change his motto from "Yes we can!" to
Stinger808 (Diary) Friday, December 3rd at 11:39AM EDT (link)“Expect the unexpected!”
I feel like I'm sitting in the back seat of the car driven by
chbroussard (Diary) Friday, December 3rd at 11:53AM EDT (link)Thelma and Louise. 9.8% unemployment (lower than the actual number), no tax relief, expense of healthcare requirements on business, etc., etc. Hold on. We’re just about to reach that cliff.
Obama's Reelection Chances
victrola Friday, December 3rd at 11:59AM EDT (link)No president in the modern era has ever been reelected with an unemployment rate of over 7.5%. Even if the economy makes a “V” shaped recovery, unemployment will most likely be well above 8% by the time 2012 rolls around. (I’m beginning to think it will still be above 9%)
I don’t want to get cocky, but unless Republicans nominate a train wreck for our nominee (I won’t mention any names) I think Obama is toast.
BS, I mean BLS stats are revised later on to worse numbers nearly 90% of the time
Common_Cents (Diary) Friday, December 3rd at 12:06PM EDT (link)How can that possibly be? Are they so bad at calculating or is it manufactured bias?
The market isn’t stupid. They just now assume that every number will be revised worse in a week or so after the headlines come and go.
Instead of really trying to improve anything in the underlying numbers, the deceiving political idiots just change the way the numbers are calc’d to get the outcome they want.
“Fathom the hypocrisy of a Government
that requires every citizen to prove
they are insured…. but not everyone
must prove they are a citizen.” -Ben Stein
“In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule.”[especially in DC] – Friedrich Nietzsche
Of course it's a bias.
skorrent1 (Diary) Friday, December 3rd at 7:03PM EDT (link)If the Oct number had been reported as 9.8 or even 9.7 the GOP would have a dozen more house seats and likely 2 or 3 more in the senate and hundreds more in the states. Next month Oct will be revised up to at least 9.7.
SNAP recipients just hit a fresh all time high of 42.9 million.
Common_Cents (Diary) Saturday, December 4th at 11:37AM EDT (link)How does this all time high food stamp number reconcile with the unemployment number. I bet one could take the historical ratio and apply it here to get a gauge of the real unemployment rate.
“Fathom the hypocrisy of a Government
that requires every citizen to prove
they are insured…. but not everyone
must prove they are a citizen.” -Ben Stein
“In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule.”[especially in DC] – Friedrich Nietzsche
A few weeks & 9.8% will be Republicans fault,
johnt Friday, December 3rd at 1:12PM EDT (link)you could bet your life on it. And lunatics and morons will believe it with a passion.
“a man’s admiration for absolute government is proportinate to the contempt he feels for those around him”. Tocqueville