Friday, June 1st, 2012

Welcome Back, Economic Disaster!

The image being used on Business Insider to describe today's jobs numbers is of stuff blowing up. "The yield on the benchmark on the 10-year Treasury note plunged to 1.46 percent, the lowest on record." The U-6 (total unemployed, plus marginally attached, plus people forced into part-time work, as percent of labor force) is down from a year ago but up from last month, just under 15%. But here's the long view on jobs; here's the long view on job loss and growth.

20 Comments / Post A Comment

Astigmatism (#1,950)

Well, on the bright side, it'll be really interesting to see what President Romney says when slashing the top marginal rate and basically axing social services make the economy that much worse a couple of years from now. We'll all be able to watch him explain it on the TVs on mute behind the windows of the RadioShack nearest to the bridges we've chosen to live under.

coalbaron (#11,105)

If Romney wins this election, at what point will the Koch brothers flip the switch on the job creating super-computer they've been assembling in their orbital space platform?

dado (#102)

The problem is that with two such idealogical divergent candidates running neck and neck there is no reason for businesses to do anything but sit tight and wait.

dado (#102)

@dado ideological dummy

dntsqzthchrmn (#2,893)

Anybody seeking advice on repatriating to swing states can reach me on the gmail.

SidAndFinancy (#4,328)

@dntsqzthchrmn: Any advice on repatriating to 1996?

dntsqzthchrmn (#2,893)

@SidAndFinancy Short the shit out of Netscape.

Obama isn't working. It's time to give someone else a shot.

@ Bart Miller @twitter Yes, but where can we find a third party candidate who could actually win?

dntsqzthchrmn (#2,893)

@ Bart Miller @twitter I think you meant to sign in from your Facebook account.

stuffisthings (#1,352)

@ Bart Miller @twitter We need a president who will actually walk down to the White House basement and pull the gigantic lever that forces all the firms in the country to start hiring more workers.

That's how it works, right?

Sometimes I think Obama wants to lose. Michelle certainly doesn't seem happy.

@dntsqzthchrmn Why would you think that? Does it matter?

Mr. B (#10,093)

@ Bart Miller @twitter I'd give you some advice about liking your own comments, but what do I know, I'm just another of the long-term unemployed!

stuffisthings (#1,352)

@Mr. B I didn't know you could like your own comments! Man, I'm gonna be SO popular.

@Mr. B: I do like my comments! Why wouldn't I?

@dntsqzthchrmn : I now realize that you are a spam bot.

scrooge (#2,697)

@ Bart Miller @twitter Yeah!! … Now where did I put my gun?

Smitros (#5,315)

I work with economists, and the office was very quiet today. I do not take comofort in that.

More evidence confirming what middle America already knows. The Obama administration has utterly failed to address issue number one, the economy. There is no good news in any of the latest readings on jobs or housing or the economy in general no matter how much CNBC tries to put a positive spin on things.

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