Can someone tell me what a jobless recovery means? I always thought economic recovery and job creation, coupled with a healthy unemployment rate of about 4 to perhaps 6%, maybe 5% went hand in hand. Well, maybe in another time, another universe, and maybe if the same standards applied to other administrations were applied to this current administration. It seems despite all the facts that suggest otherwise the media keeps telling us that a recovery is going on. Although, if a tree falls in the forest and no one is around the hear it, did it really happen?
Today the job numbers came out after earlier in the week learning that a measly 1.9% growth in GDP and an increase in jobless benefit applications were filed by I would assume the almost 16 million Americans out of work, looking for work, or have stopped looking for work. Now we learn despite another so called dynamite month of job creation the unemployment rate went back to 9% from 8.8% a month ago. Now let me first tell you something, if the unemployment rate drops a half of a percentage in just a month, instead of maybe 3 or 4 percentage points in three months, then an economic recovery we are not in, but instead we’re starting to see the beginning stages of another recession. Now how severe and how long I don’t know, but when you have a dying housing market, last month I said it was weak not its dying with prices going down while the number of foreclosures steadily increase, 15 million people out of work, 40 million on food stamps, the price of food and gas increasing, debt and deficits in the trillions, and the Federal Reserve now considering an end to their quantitative easing methods which gave us the little economic production we’ve seen thus far, and don’t forget inflation, I think we’re headed toward a serious fork in the road.
But the administration via a compliant media wants you to think that happy days are here again. I don’t know if they are stupid and simply aren’t good at mathematics, or they’re just out and out lying to us and this whole Bin Laden thing and his spiking the football at ground zero (after he said we shouldn’t spike the football by releasing the photos of a dead Bin Laden) is part of a political strategy of distraction for 2012. Remember when Democrats accused Republicans of distracting voters from the 2008 financial crisis by accusing the GOP of personal attacks against Obama?
Well I think its safe to say that all this “Hail Caesar” talk of Obama’s “gutsy” (gutsy, obvious, what’s a few words here and there to stretch the myth a bit right?).