Jobs Market "Close to a Bottom," But Unemployment Heading Above 10%, Economist Says

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ain't no bottom....tat hole is so deep now tat the American comsumer is kissin' the feet of China... http://www.worldthinktank.net/pdfs/TheFlowofTrade.pdf

You can always HIRE unemployed Financial Bloggers! Like Johnny for instance! Totally incomprehensible and incoherent, just like a banker or stock broker.

How can the job market improve with the anti-business democrats in control?

Some economists don't want to admit that many of these job cuts are permanent. The auto industry is going through a massive downsizing because it was much too large. Downsizing includes slashing jobs, factories and material consumption. Many of those jobs will not be replaced in that industry.

That's RIGHT kiddies: It does NOT include the auto workers... yet.

You can ALSO throw in: All the service businesses surrounding those auto plants and eateries/bars/etc.

YESTERDAY THE NEWS SAID THERE WERE OVER 520,000 NOW TODAY IS 345,000 Hmmmmmmmmm... Who's lying here?

I am going to outline my theories here about what is going on. First off, this market rally of the past few months is a "junk stock" rally. All the "junk stock financials" that were like $1 a share went up like 400% and more. This poses a problem for investors like myself who only buy quality stocks. Myself and most fund managers have been penalized for our investment strategy. The market is rewarding "junk" and of course the government has created a giant moral hazard. Secondly, George Soros outlined in a book not too long ago that the US would enter a down economic cycle around 2007 that he called a "super bubble". The "super bubble" is a credit bubble that actually began during the Reagan years and grew into gargantuan proportions by 2007. Right now, the govt and the fed are trying to prop up the "super bubble" with more loose credit but it is too late - the bubble broke. I think the govt should take a lesson from the Austrian school of economics, "don't spend what you don't have". We are going to see much higher unemployement in the near future as the "super bubble" is burst and everyone will be affected in one way or another, like relatives needing to borrow money from you.

Expect more pain. And don't take whatever Johnny Ike is smoking. Dude looks like a lady.

Aaron Task keep up the good reporting. Do not waiver from the truth. According to this report, the temporary jobs and service sector job numbers are not as bad, but the manufacturing jobs number continues to get bad. This means the manufacturing sector people are continuing get laid off and they are taking temporary jobs flipping each other's hamburgers. This is no recovery the administration wants you to believe. It is going to get a lot worse since the bailout money will be all wasted in 1) pork barrel spending, 2) corruption and 3) Union jobs and Union health care. Then there will be no appetite for more bailout, because people will already be up to their necks in increased taxes. Once this information is digested and people realize that this is a sucker's rally the market will dive as quickly as it rose. I do not think the dollar will collapse because the democratic administration will keep raising taxes. So keep a sizable portion of your assets in CD's and another portion in gold and precious metals.

the short-sightedness of the Bears and Obama-haters is mind-boggling. this administration is NOT trying to re-inflate any bubbles, they are trying to make it an orderly decline, instead of an instant crash. yes, these jobs are probably lost forever -- there are just too many people in the USA, and on the planet. STOP HAVING BABIES ! I am child-free, and L O V E the financial freedom it gives me :)

All this suggests is you have been had ... much better than expected

Task + Blodget=short busted, I love it

Babies like J.G. who do not understand head or tail of economics are the reason why Obama got elected. They are ones who will be creamed because they will be left out in the cold by Obama. Eventually social security and medicaid will be gone. Perhaps J.G. if it is not too late have some children, or adopt some. For risk mitigation, you may need them later to give you shelter when you are old and no body else is willing.

Task + Blodget=short busted, I love it

What the heck - are we trying to make people happy whenever the bad news come?

Hey Johnny Ike, are you still on the third floor of that psychiatric ward. Where are you getting your news from?

LOSSES DIMWITS... THESE ARE LOSSES........ WHERE ARE ANY JOB CREATED HMMMMMMMMMMMMMMMMMM????? WHERE ARE THE GREEN JOBS????? HMMMMMMMMMMM????? OH GOODY.... JOB LOSSES ARE DOWN.. BUT OOPS.. .26 YR HIGH 9.4 AND CLIMBING... DULLARD OBAMA TINGLE UP THE LEGS