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This Sucks

Via Susie, CNBC report on the Job Losses for August. You need at least 150,000 new jobs to take care of new people entering the job market, but there was a net loss of 4,000 jobs in August and June was revised down to 69,000, and July to 68,000.

School starts in August or September in the US. All of the bus drivers and teachers get hired. You need cafeteria workers and janitors. There are back-to-school sales. With all of that we lost 4,000 jobs.

This is called a recession, and it has been going on for a while. The mortgage problems are just going to deepen it. The market is in the tank and hasn’t done anything since the Hedgemony took over, because the market never thrives under Repubs. All of the investment capital has been sucked up by T-bills because no smart investor puts money in the market with a Repub in the White House.

3 comments

1 Armin BAur, Litchfield, CT { 09.07.07 at 7:17 pm }

Bin Laden has it right. Democrats are no less evil than Republicans. The fact is that our Government does not care for its citizens. It is all about power, greed and sex in the mens bathrooms. What a disgusting lot in Waswhington. We have a degenerate elite in Washington which has to be replaced by people who care. May be the American public will be smart enough to vote for the candidate who is honest and cares for teh country. That is not Clinton.

2 Steve Bates { 09.08.07 at 12:54 am }

(CT = Concern Troll? Oh… Connecticut… never mind!)

Recession indeed. Spin it however they like, the Bushists have a recession on their hands.

I looked at the bug-and-feature-tracking list at my purported current client’s again today. All the tasks tentatively marked for me are now also marked “on hold.” This is not merely the big guns not hiring. Typically successful small businesses like that client, the businesses that often hire me, are apparently pulling back on new development as well (though I have no inside knowledge of this company’s condition; I’m just guessing). That affects people like me… and I don’t even show up on any unemployment statistic. I doubt I’m the only one.

As disgusted as I am with the Democratic leadership at the moment, the last time we had a Democratic president, I had eight solid years of steady work on my plate. Do I have to wait for the next Democratic president for economic good times again? Probably so. Anyone who says there’s no difference between the parties should try earning a living as an independent contractor (i.e., one not hitched to the Bush crony cabal) and see if they can still say that with a straight face.

3 Bryan { 09.08.07 at 10:49 am }

Business has not been spending on future growth, everything has been going to profit. There are no R&D budgets, there is no expansion, there is no hiring, and this is the pattern with a Republican in the White House.

They have been massaging the numbers to hide what has the economy really looks like.