Friday, October 9, 2009
Nobel Committee strikes at Bush again!
Monday, October 5, 2009
Bernanke's Economy Pep Talk
http://online.wsj.com/article/SB125301730771311713.html
Federal Reserve Chairman Ben Bernanke knows that as long as the Democrat controlled Congress continues to push for business punishing taxes and regulations the economy will continue to languish.
The unemployment rate was actually going down in the months just before Obama clinched the nomination in early June of 2008. Remember that the Clinton campaign was on life support during the final weeks. Rush Limbaugh’s “Operation Chaos” encouraged Republican cross-over voters and was partly responsible for the Clinton campaign surviving the final weeks leading up to the finish in June.
For those with short memories, businesses started trimming employees as soon as they felt the election would go to Obama. The following chart illustrates my point and is excerpted from the following web link:
http://www.data360.org/dsg.aspx?Data_Set_Group_Id=248&count=all
Mar-2008-----5.1%
Apr-2008-----5.0%
May-2008-----5.5%
Jun-2008-----5.6% (Obama wins nomination)
Jul-2008-----5.8%
Aug-2008-----6.2%
Sep-2008-----6.2%
Oct-2008-----6.6%
Nov-2008-----6.8% (Obama wins Presidency)
Dec-2008-----7.2%
Jan-2009-----7.6% (Obama becomes President)
Feb-2009-----8.1%
Mar-2009-----8.5%
Apr-2009-----8.9%
May-2009-----9.4%
Jun-2009-----9.5%
Jul-2009-----9.4%
Aug-2009-----9.7%
Sep-2009-----9.8% (Rate has increased 4.2% since Obama clinches nomination)
From June 2008 forward the unemployment rate has risen to the current official level of 9.8%. When you add persons no longer looking for work, part-time employed and expired unemployment insurance the ACTUAL RATE is almost 16%.
If Obama, Pelosi and Reid are successful in passing their legislative agenda the U.S. is in for a rough ride for the remainder of the out-of-control Democrat controlled Congress.