It's I Smell Desperation Thing

Dear America,

this is transparency people, can you see it? if the emperor were wearing any more clothes, he'd be naked.

yesterday, we were at 8.1% unemployment (supposedly);
today, we are at 7.8%!

And the White House chooses to come off as subdued?
If this news be true, they would all be jumping up and down.  Obama would be dancing at the podium and singing "I'm so in love with you..."  Champagne would be popping on the bus.  Not even the market is celebrating...

Instead, we get "we still got more work to do." um

"'While there is more work that remains to be done, today's employment report [from the Labor Department] provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression,' the chairman of Obama's Council of Economic Advisers, Alan Krueger, said in a White House blog post. His comments were the administration's first response to the jobs report."

Sure, I guess, more work does need to be done; especially that pesky FULL-TIME work.

Current numbers also tell us that part-time job finders who wanted full-time employment ROSE 7.5% to 8.6 million.

[with real numbers we would be at over 11% unemployment]

But let's run with the increase of 114,000 jobs in September [even though we all know we need like, 150k just to break even].  An increase in 114,000 jobs over thirty days, equals 3,800 jobs/day, divided by all 50 states, equals 76 new jobs per day...

How does that even keep up with college graduates, at about 1,750,000/year?  Perhaps it helps if we subtract the seasonally adjusted college rate to account for the occupiers not actually looking for work.

BUT  JUST HOW in the world does the rate drop this much all at once?

This was the picture in July, from Fox News --

"The unemployment rate ticked up to 8.3 percent in July, reflecting a stagnant economic picture as hiring improved but not by enough to make a dent in the sea of unemployed Americans.

The Labor Department report, in a glimmer of positive news after three straight months of dismal jobs numbers, showed that hiring reached its best level since February, with 163,000 jobs added.

But the number brings the economy back to treading-water status. The economy added an average of 151,000 jobs a month this year, roughly the same as last year's pace. That's not enough to satisfy the 12.8 million Americans who are unemployed. It would take 250,000 new jobs a month to rapidly bring the unemployment rate down."

In August, it ticked down to 8.1% --

"The private sector added 103,000 jobs despite a loss of 13,000 manufacturing jobs. Federal, state and local governments cut 7,000 jobs. Job gains were strongest in food services and bars, professional and technical services, and health care," having previously duly noted the size of the workforce "continues to drop."

We add 114,000 jobs in September,  make adjustments to the July and August numbers to the tune of adding 86,000 jobs -- and the unemployment plummets to 7.8%?

okay.

This is transparency during a re-election campaign... you know we, the people, can see you, right?

So let's pause for a moment to let you look at a graph, from Gallop, showing the rise and fall of the seasonally adjusted, along with unadjusted, through the years. GO HERE.

So in other words, we are back to where Obama came in.

 So at the risk of going in circles, from the NY Times:

"Adding to the positive news, job gains were revised upward by 40,000 for July (to 181,000) and by 46,000 for August (to 142,000), which had been considered a disappointing month, casting a slightly rosier hue on the summer slowdown."

and September adds only 114,000, and we drop from 8.1 to 7.8%?

How do they [the number nerds] get there?

What did this administration do to get such a drop?  And fascinating is, as fascinating does, you know, being so close to the election and all...

In real life, we freaked out when under the Bush administration, the price of a gallon of gas went up to 4.00/gallon; of course, it was adjusted back down to 1.78/gallon by the end of his term.

Yesterday, I noted in the fine print, that I paid $4.79/gallon, and at the time, only filled the tank to the half-way point.  Overnight, the price jumped another  20 cents. We are at $5.00 a gallon, folks [rumor has it, LA is at six...you have to be a star to afford that].

FACT:  More people are working part time, when they want full time -- or they have simply stopped looking for work.

FACT: A loaf of bread costs easily four bucks; a gallon of milk is just a lot.

Force feeding the numbers now, here's another graph from Gallop, taking a second look at the August numbers -- citing within the nitty gritty details, underemployment at 17 %.

And yet today, we wake up to seeing 7.8% unemployment?  As if that, in and of itself, is a really good thing? America usually operates somewhere between four and six percent unemployment...see here...yes, it's actually two charts in one place, so get over it, get over the laziness factor and buck up buttercup. Or not, no matter....

Here's Obama, just after he got elected in November of 2008:

"In a Chicago press conference Nov. 7, the same day the unemployment data were released, Obama acknowledged the job losses and their toll on the workforce, noting, "we're going to have to act swiftly to resolve it." He went on to say that until Jan. 20, the Bush administration is in charge, but, "Immediately after I become president, I'm going to confront this economic crisis head-on by taking all necessary steps to ease the credit crisis, help hardworking families, and restore growth and prosperity." Among some top priorities Obama mentioned:

• a rescue plan for the middle class "that invests in immediate efforts to create jobs and provide relief to families that are watching their paychecks shrink and their life savings disappear." A fiscal-stimulus plan and another extension of unemployment benefits would be part of that plan;
• policies to help the automobile industry adjust amid the financial turmoil;
• longer-term policies to bolster the economy, such as clean energy, health care, education and tax-relief for middle-class families.

Obama underscored that fixing the situation won't come easily or quickly--but it can be accomplished through a concerted, non-partisan effort"

I love, love, love going back to first intentions.  And can't you just feel the spring in his step?

Here's the thing, people.  

This is it.

We have seen the best this president has to offer.

Let me be clear, we have seen the best this president has to offer:

1. fiscal-stimulus and extended unemployment benefits, check 
2. auto industry bail out, check, check 
3. long term policy, four years in, for "clean energy, health care, education, and tax relief for middle-class families," check, check, check, check.

Of course, the fiscal-stimulus was not so shovel ready; GM and Chrysler are still not out of the woods, being nick-named Government Motors and operating at a net-loss to taxpayers; the bolstering of clean energy had more losers than winners, the health care act is already increasing premiums by 20% and the tax mandate is now official -- after the Supreme Court decision -- increasing taxes on EVERY family, while education sees the largest municipal strike in years, with universal test scores showing widespread, prevalent delinquency lives everywhere, and about that tax-relief for the middle-class -- oh that's on borrowed time until the end of the year.

THIS IS IT.  Back in November of 2008, the president noted the highlights, his "top priorities".

THIS is what he had in mind way back when and THIS is where we are at four years later.

THIS is the president acting in a concerted, non-partisan effort. [okaaay...]

THIS is it, folks.

THIS is the president creating our reality of the last four years -- and well into ticking off his to-do list; he did it already...this guy's got nothin' on lazy, while unfortunately for him, no more new ideas.

He has accomplished EVERYTHING he set out to do -- even the gas prices haven't been left out...thank you, Chu.

 

The outcome of "TRICKLE DOWN GOVERNMENT" is upon us.   And we cannot expect anything different over the next four years...if you all give him that -- as we have already seen the best of his best.

"Immediately after I become president, I'm going to confront this economic crisis head-on by taking all necessary steps to ease the credit crisis, help hardworking families, and restore growth and prosperity."  

It's in Obama's words.  This is Obama after "confronting" the economic crisis head-on.

And according to me, G, it's a head-on collision; and like our "unemployment numbers" of this morning, there's nothing to see here, move along, unless you're really into road kill with a side of bull.

I smell desperation.

Make it a Good Day, G