But the Jobs?
Breitbart has a story regarding President Obama's approval rating, and this paragraph caught my eye (emphasis mine):
I think it's lovely that the Dow is back above 10k (or hovering therein) and that consumer confidence was up for September (though it's down again for October). Also that GDP was up. But that's a false number. It was inflated by the Cash for Clunkers program, which cost the tax payers $24,000 per car, if Edmunds.com is to be beleived. By the heated reaction the White House had, I'd say they should be taken seriously. But where are the jobs?
Unemployment, all in, is probably somewhere near 17%. And the unemployment they do track, is going to hit 10% probably before 2010 does. The American Consumer won't return to the market in that type of enviornment.
Now I know that jobs are the lagging indicator, and with a new administration it's going to take businesses even longer to think about hiring as they aren't sure what their situation is going to be like in the coming years (insurance costs, taxes, etc). But just as I bemoaned those that called it a recession before there was evidence, I think we should be cautiously optimistic about recovery.
And I'm irritated that we had the stilumus for $800B and it's a big joke. I'm irritated we bailed out Chrysler when it looks like they are going to fold anyway. I'm irritated that we make big expenditures like those without blinking an eye, and then Congress wants to start a brand new entitlement program with money we. do. not. have.
There are limited resources folks. I know you understand this. Like oil? There's only so much. You can't just drill for more.
Likewise, you can't just print more money. You can't just tax the richest among us. They will stop producing. Atlas will shrug.
Congress will send us into financial ruin and they will cry when it happens. I blame the 2006 Congress as well, and the fiscal policies of George W. Bush that have been continued into this administration. Broken? Bail them out. Not enough money? Print more. Borrow some from China. Who cares? There are no consequences.
Our country is run by niave, ridiculous, priviledged children who've never had to work a day in their lives. And they will seriously cry when their toy breaks.
On Sunday, even as data released by the Commerce Department last week showed the United States had emerged from the worst recession in decades, a monthly approval index by Rasmussen Reports showed 29 percent of those polled strongly approve of Obama's performance, compared to 39 percent who strongly disapprove.
I think it's lovely that the Dow is back above 10k (or hovering therein) and that consumer confidence was up for September (though it's down again for October). Also that GDP was up. But that's a false number. It was inflated by the Cash for Clunkers program, which cost the tax payers $24,000 per car, if Edmunds.com is to be beleived. By the heated reaction the White House had, I'd say they should be taken seriously. But where are the jobs?
Unemployment, all in, is probably somewhere near 17%. And the unemployment they do track, is going to hit 10% probably before 2010 does. The American Consumer won't return to the market in that type of enviornment.
Now I know that jobs are the lagging indicator, and with a new administration it's going to take businesses even longer to think about hiring as they aren't sure what their situation is going to be like in the coming years (insurance costs, taxes, etc). But just as I bemoaned those that called it a recession before there was evidence, I think we should be cautiously optimistic about recovery.
And I'm irritated that we had the stilumus for $800B and it's a big joke. I'm irritated we bailed out Chrysler when it looks like they are going to fold anyway. I'm irritated that we make big expenditures like those without blinking an eye, and then Congress wants to start a brand new entitlement program with money we. do. not. have.
There are limited resources folks. I know you understand this. Like oil? There's only so much. You can't just drill for more.
Likewise, you can't just print more money. You can't just tax the richest among us. They will stop producing. Atlas will shrug.
Congress will send us into financial ruin and they will cry when it happens. I blame the 2006 Congress as well, and the fiscal policies of George W. Bush that have been continued into this administration. Broken? Bail them out. Not enough money? Print more. Borrow some from China. Who cares? There are no consequences.
Our country is run by niave, ridiculous, priviledged children who've never had to work a day in their lives. And they will seriously cry when their toy breaks.
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