Saturday, October 20, 2012

Recession Continues

That "improved" jobs number that Obama is touting? Never happened, but you won't hear about it in the media, especially since the guy doing the counting in California is a major campaign contributor to the president:
  • Marty Morgenstern, the secretary of the California agency that substantially under-reported unemployment claims last week, contributed to President Barack Obama’s 2008 presidential election campaign, The Daily Caller has learned.

    On Oct. 11, the federal government reported that weekly jobless claims were down significantly, suggesting a dramatic national increase in economic growth and a steep decline in layoffs. Jobless claims, according to the Labor Department, had fallen by 30,000 to 339,000, their lowest level since February 2008.


    The good news for the Obama administration spread quickly, with outlets like CNN and Bloomberg declaring, “Jobless claims fall to four-year low.”


    But within hours, the Bureau of Labor Statistics and Labor Department analysts announced that one major state had failed to fully document jobless claims. They declined to name the state.


    [...]  Early Thursday, the federal government finally revealed that California had, in fact, under-reported jobless data, skewing the national jobless claims results. This week’s updated jobs report corrected the error and showed unemployment claims spiking back up by 46,000 to 388,000.
Seventeen days left.

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35 Comments:

Anonymous Anonymous said...

Vote 'em all out. Vote against retaining all the judges. Send a message. When is Alvarez up for re-election? She needs to go too.

10/20/2012 12:07:00 AM  
Anonymous Anonymous said...


Yep. so tired too of people talking about how the auto industry was saved.

"Those are good paying UAW union jobs with benefits" HAHAHA.. They were at one time. People are judging based upon many years of history however whey Washington "save them all" now the starting wage for a UAW worker has been cut in half. So now that there is a two tier wage level it's only a matter of time where the auto industry can play one set of workers with the lower wage and benefits against the other and force the old timers with the better pay and benefits out by creating a hostile workplace.

I won't be surprised if Rahm tries to pull the same shit with the city pensions. " Oh no-one who has "X" years of service is going to affected by these pension changes -- the changes are only for the new guys"

Once the "new guys" are established why would you keep the more expensive "old guys" around. We've seen this tactic time and again in private corporations.

10/20/2012 12:11:00 AM  
Anonymous Anonymous said...

The Sanctuary City leaders are driving this state right down the tubes..

Tell me all about your job creation Chicago. What you need to ask is what kind of jobs are they?

"Seven hundred thousand more people live in poverty in Illinois than in 2000, when the rate stood at 10.7 percent; this marks an increase of more than 40 percent in little over a decade."

The damn number of people in poverty in Illinois is growing faster than the so-called new jobs created here no?!


===================

Poverty rises sharply in Illinois
By Marcus Day
16 October 2012

New data released by the Census Bureau reveals that greater numbers of Illinois workers and unemployed are falling into poverty.

According to the American Community Survey, the number of people living below the federal poverty threshold in Illinois grew by approximately 150,000 between 2010 and 2011, increasing the poverty rate from 13.8 percent to 15 percent. Nearly 2 million people now live below the federal poverty line in the state. Seven hundred thousand more people live in poverty in Illinois than in 2000, when the rate stood at 10.7 percent; this marks an increase of more than 40 percent in little over a decade.

One should always bear in mind when examining such reports that the federal government’s measure of poverty, which in 2011 was less than $11,484 in yearly income for an individual or less than $23,021 for a family of four, grossly underestimates the amount of money an individual or a family requires to secure basic necessities, such as food, housing and health care. If one were to examine those people living on less than 125 percent of the federal poverty limit, for example, the total number of Illinois residents increases by nearly 500,000 and encompasses almost 20 percent of the state’s population. In fact, a 2012 study by the Iowa Policy Institute found that families with one parent and two children need at least $42,540 a year in order to secure basic needs; in contrast, the Census Bureau sets the poverty threshold at a little over $18,000 for the same size family.

As in the rest of the world, youth are among the most severely affected portions of the impoverished population in Illinois. The survey found that the number of people under the age of 18 living poverty grew by almost 60,000 between 2010 to 2011, bringing the total to nearly 660,000. This increased the percentage of youth in poverty from 19.4 percent to 21.6 percent. Youth make up roughly 35 percent of all those living below the poverty line in Illinois.

http://www.wsws.org/articles/2012/oct2012/illi-o16.shtml

10/20/2012 12:20:00 AM  
Anonymous Anonymous said...

How is this not front page news?

It makes me sick that they can get away with this!

10/20/2012 12:53:00 AM  
Anonymous Anonymous said...

The Chicago way...the truth only gets in the way of the facts. Democrat style.

10/20/2012 01:26:00 AM  
Anonymous Anonymous said...

So in reality, the claims went from 369,000, *magically* dropped to 339,000, then came in at 388,000 this week. They've actually gone up.

That's an increase in the decrease if there's ever been one.

10/20/2012 01:50:00 AM  
Blogger I Fart In Your General Direction said...

Even though this coming Monday's Presidential Debate is supposed to be on foreign policy, I'll bet Romney works this little gem into his 3rd round of dismantling Obummer's lies.

I expect Romney to pull no punches in his last opportunity to further expose the greatest farce ever in US history, and can't wait to see him to go for the throat.

God willing, four years of fraud is almost over folks.

10/20/2012 02:50:00 AM  
Anonymous Anonymous said...

Nope! 3 months and 1 day left!

10/20/2012 04:38:00 AM  
Anonymous Anonymous said...

Thats raysis!!!

10/20/2012 07:35:00 AM  
Anonymous Anonymous said...

The federal version of a 'decrease in the increase' must be a 'decline in the incline'.

Bwahahahahaha!

10/20/2012 07:36:00 AM  
Anonymous Anonymous said...

The press is working hard to re-elect this plague to our nation. If he loses, I hope those in the media and government are brought up on treason charges.

10/20/2012 09:22:00 AM  
Blogger I Voted For Obama said...

The numbers will be what Obama wants them to be. That is all!

10/20/2012 10:01:00 AM  
Blogger I Voted For Obama said...

Obama also manipulated the gas prices to go down by a huge amount right before the election.

This is why I adore him.

10/20/2012 10:03:00 AM  
Anonymous Anonymous said...

Anyone that believes anything, anything the MAObama administration says from now till the election...well, I've got a bridge in Brooklyn that belongs to me for sale.

10/20/2012 11:10:00 AM  
Anonymous Spirit of '76 said...

This is clearly an example of the style of Chicago Machine Politics that has been inflicted on our country.

And Chicago Machine Politics is not a party that supports democracy as envisioned by the Founding Fathers of this country.

Thomas Jefferson, Benjamin Franklin, George Washington, Samuel Adams and the rest of them would be organizing tea parties, and protests about now if they were around.

10/20/2012 12:37:00 PM  
Anonymous Anonymous said...

The stock market trendlines are all showing a major pullback next year. In the past this has equated to people in deferred comp losing a lot. If you aren't in fixed now, you should be.

A friend.

10/20/2012 12:47:00 PM  
Anonymous Anonymous said...

To 10-20 12:53AM

This info is NOT being reported by the maninstream media which is owned by oboma..YOU will NEVER read anything that makes oboma look like a liar,which all socialists are. YOU WILL read about articles likes this, with no spin..just the facts, from www.freerepublic.com, www.breitbart.com, www.theblaze.com

These three above sources reprint articles that are being published from every state in the US, actually worldwide from Europe, the Middle East, etc. Stop reading any newspaper put out by the mainstream media, and make it a point to first thing in your morning you read your daily news from the three links above for your news as each articles is reprinted on a minute to minute basis. Listen to conservative talk show stations such as Glenn Beck on WIND-AM radio from 9am-11am daily, and Rush Limbaugh on WLS-AM radio from 11am-2pm daily, Mark Levin on WLS-AM from 9pm-12midnight daily..daily free downloads of each night's program available on www.marklevin.com. Also listen to Eric and Gary on Redeye Radio on WLS-AM radio from 12midnight-4AM daily.

See you at the polls, pass these links to others, get them to the polls and offer assitance if needed to get them there. We must destroy oboma's socialist government, and return our country to the Constitution, FREEDOM and liberty. This IS America..we don't need no stinkin' socialits/marxists/communists/revolutionaries/muslim loving/sharia law loving traitors like oboma and his demo-sociaist party in the USA!

10/20/2012 02:05:00 PM  
Anonymous Anonymous said...

And as a final fuck you to America, he's planning on closing Gitmo before he leaves on 20 January.

The assholes will be sent to Thomson Penitentiary right here in the Land O' Lincoln.

His henchmen here in Illinois sold the prison to the feds last month.

If you know anyone in Iowa, inform them of this prior to 06 November.

10/20/2012 03:02:00 PM  
Anonymous Anonymous said...

Americans died, Obama lied. But more important"HEY BO What is yo agenda for the next 4 years beside collecting cash from Hollywood,golfing and sending yo old lady on expensive vacations. Congress and the Senate are still Americans, I hope.

10/20/2012 04:39:00 PM  
Anonymous Anonymous said...


Triple Jay sent out a robo call to his supporters...

"Like many human beings, a series of events came together in my life at the same time and they have been difficult to sort through," Jackson said in the automated phone call. "I am human. I am doing my best. I am trying to sort through them all."

Jackson thanked his supporters and said he is "starting to heal" but that his doctors tell him the road to recovery is a long one.

"I am anxious to return to work on your behalf, but at this time it is against medical advice, and while I will always give my all to my constituents, I ask for your continued patience as I work to get my health back," he said.

http://www.startribune.com/politics/national/175090181.html?refer=y

Hahaha.. "It's against medical advice to return to work" No! Just keep sucking off the tax payers money for FIVE MONTHS NOW! Go out and get yourself a couple women and go bar hopping instead!. HOney it's doctors orders and these are my healers? Oh rly? Yes rly! Now make me another gin and tonic.

WTH he'll be calling from the Cayman Islands next.. Be patient cough-cough I'm trying to heal and regain my health.?

10/20/2012 05:55:00 PM  
Anonymous Anonymous said...

Check out this graph in the link below and look at how long the BLS has been low balling the unemployment numbers and then later revising them higher.

When you are consistently off in the same direction your model to estimate job losses is likely broken and should be adjusted.

But NOPE! They refuse to do it.

Beside if you're constantly revising LAST WEEKS numbers up, well that's history and it makes the current week that you're reporting on feel like an improvement!


..Finally, courtesy of John Lohman, here is how long we have now gone without one single downward adjustment in the claims number:

10/20/2012 06:11:00 PM  
Anonymous Anonymous said...

I Voted For Obama said...

Obama also manipulated the gas prices to go down by a huge amount right before the election.

This is why I adore him.

10/20/2012 10:03:00 AM

------------------------------

So true. Gas under the $4.00 mark.

Watch how it shoots right back up after election $5.00+ and if it doesn't go there it's only because we're in a depression and the Banks blew the entire capitalistic system to bits via greed and fraud

10/20/2012 06:17:00 PM  
Anonymous Anonymous said...

The stock market trendlines are all showing a major pullback next year. In the past this has equated to people in deferred comp losing a lot. If you aren't in fixed now, you should be.

A friend.

10/20/2012 12:47:00 PM

Show us the link where you got your info

10/20/2012 06:56:00 PM  
Anonymous Anonymous said...

The media would rather see this great country go to shambles then to see Obama voted out of office.

10/20/2012 07:21:00 PM  
Anonymous Anonymous said...

So...am I supposed to be happy that jobs continue to be in short supply, because it hurts the government's image?

10/20/2012 07:27:00 PM  
Anonymous Anonymous said...

let's spread , redistribute the wealth of ghetto rats and illegal immigrants to the north shore in illinois and the rest of USA .
No state should have more than
10 % of it's citizens on welfare .
Shoot , crime just went down 90% in chitown.

10/20/2012 10:45:00 PM  
Anonymous Anonymous said...

To I Fart in Your General Direction:

I sure hope that you are right and it could happen if there is a moderator that will let Romney speak without interuption and correction.

10/20/2012 11:36:00 PM  
Anonymous Anonymous said...

Once the "new guys" are established why would you keep the more expensive "old guys" around. We've seen this tactic time and again in private corporations.

10/20/2012 12:11:00 AM
****************
Because the older, high paid employees retire. You might be able to work for GM for 50 years. The police department kicks you out at 63. That's 40 years maximum. most of the bosses will be those older, higher paid employees for years to come even if they did this two tier policy now. There are very few cops that want to work until they're 63. The lawsuits hassling us would cost more than just letting our old asses go when we're ready to.

10/21/2012 07:37:00 AM  
Anonymous Anonymous said...

Anonymous said...

The stock market trendlines are all showing a major pullback next year. In the past this has equated to people in deferred comp losing a lot. If you aren't in fixed now, you should be.

A friend.

10/20/2012 12:47:00 PM


And if I followed your advise, I would have missed the 25% increase that I had over the past 12 months

10/21/2012 07:42:00 AM  
Anonymous Anonymous said...

Anonymous said...

And as a final fuck you to America, he's planning on closing Gitmo before he leaves on 20 January.

The assholes will be sent to Thomson Penitentiary right here in the Land O' Lincoln.

His henchmen here in Illinois sold the prison to the feds last month.

If you know anyone in Iowa, inform them of this prior to 06 November.

10/20/2012 03:02:00 PM

My Iowa relatives wouldn't vote for Obama. They'll be out for Romney/Ryan.

10/21/2012 08:06:00 AM  
Anonymous Anonymous said...

GM used that stimulus money to open a plant in China. Glad we saved them.

10/21/2012 08:10:00 AM  
Anonymous Anonymous said...

Yea, things are getting better. My house keeps depreciating. I have seen houses sell for half the price of what they sold for three years ago. (The same house was sold twice within three years, the second time for half the price of the first time.) Mortgage rates are very low. But good luck refinancing; you have to prove to the bank that you do not need its money. Taxes keep going up; I read my utility bills, and they contain city taxes (only a few dollars). But add up all the taxes and fees and the amount is substantial.

10/21/2012 12:01:00 PM  
Anonymous Yoda Mann said...

Just showing a little love to our community organizer in chief. Hope you all enjoy. http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3D_RX3iTmtU54%26feature%3Dcolike&h=JAQH8OxGLAQEvGAXAFTx-iusBqQxPvqZV0QXFvIo2xVzsBg&s=1

10/21/2012 06:08:00 PM  
Anonymous Anonymous said...

The stock market trendlines are all showing a major pullback next year. In the past this has equated to people in deferred comp losing a lot. If you aren't in fixed now, you should be.

A friend.

10/20/2012 12:47:00 PM

Show us the link where you got your info

10/20/2012 06:56:00 PM
October 15,2012 Barrons Weekly

10/22/2012 01:15:00 PM  
Anonymous Anonymous said...

The stock market trendlines are all showing a major pullback next year. In the past this has equated to people in deferred comp losing a lot. If you aren't in fixed now, you should be.

A friend.

10/20/2012 12:47:00 PM


And if I followed your advise, I would have missed the 25% increase that I had over the past 12 months

10/21/2012 07:42:00 AM
My post was 20OCT12 from information in Barrons Weekly and current Wall Street Journal articles by economists, not 20OCT11.
Whatever gains you have may diminish if not placed in fixed. Its not a bad idea to change your holdings to fixed before the election anyway being that world financial powers such as Brazil, Russia, India, and China don't have much confidence in our current White House.

10/22/2012 01:25:00 PM  

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