Yankees Win, Workers Lose: Unemployment Rate Hits 26-Year High

Obama just sent his US Secretary of Labor to go meddle in Honduras. Foreign affairs for the socialist labor secretary Hilda Solis. Out of the country. That shows you how much of a priority the 10.2% Unemployment is in the O administration. Google news about Hilda Solis. How many of you knew that?

Obama just sent his US Secretary of Labor to go meddle in Honduras. Foreign affairs for the socialist labor secretary Hilda Solis. Out of the country. That shows you how much of a priority the 10.2% Unemployment is in the O administration. Google news about Hilda Solis. How many of you knew that?

Economy is still shedding jobs and people are asking Obama to fix it. Folks, there is not much Obama can do about it. Government does not have a magic stick to swing and change the world. We have borrowed for 50 years and spent and inflated prices and salaries along with it. When the pay back time arrives, it is not reasonable to expect that all will be fine. An entire generation borrowed from the future. We are doing the same. When the future arrives, we will pay it back. There is no way out of it. Let me explain. When we borrow, banks create new money. They do not lend existing money. In fact, all bank accounts are just a promise to pay you dollars. They do not really have the dollars. Here is how banks create money: ******* http://www.tradingstocks.net/html/banks_create_money.html ******* This new money makes the economy feel good. When there is more and more money (or the illusion of it since it is just borrowed money), people spend more and inflate prices and salaries. This is a ponzi scheme being run by the government and the FED since 70 years. They keep inflating the money supply faster than the GDP growth! Then they look at GDP numbers and say "Hey, we are growing!" It is now taking $6 of debt to increase GDP a paltry $1. This ratio is going to get worse! But wait, what if borrowing does not increase? What if bank credit deflates? What is going to happen then? Well, when bank credit inflation stops, deflation starts. Bank credit is deflating as seen here: ******* http://www.tradingstocks.net/html/inflation_deflation_credit_bub.html ******* This is the cause of the crisis. Excessive debt that cannot be sustained by the real economy is the real cause of the crash and it is not over yet. To keep bank credit from deflating, government runs many programs such as cash for clunkers, 8k home buyer credit etc. All of this is to make people borrow more so that more money gets injected into the economy so that they can declare that GDP is up at the expense of future generations. Government allowed deducting mortgage interest from tax. They do not do this because they want people to own their own homes. Things like "Home owners are good citizens" etc are just smoke and mirrors to hide the real intention of inflating bank credit. Remember the Affordable Housing push? They said everyone should achieve the American dream and they allowed sub-prime. It was intentional. They needed sub-prime borrowers to step up and borrow money after they ran out of prime borrowers. Or the money supply would deflate and their banks would go bust! Here is how the government and the FED runs this ponzi scheme: ******* http://www.tradingstocks.net/html/housing_market_bubble_bust_cyc.html ******* This is why they removed 20% down requirement. They needed more people to borrow, bigger amounts. That is why they inflate the home prices exponentially higher because they needed borrowing to increase exponentially. Well, the music has stopped. Chairs are taken. R.I.P to those who are now standing. Unemployment is the result of deflating money supply which cannot be prevented in the current fractional reserve baking system. We created the money supply when we borrowed. It is the principal. But we promised to pay back principal + interest. Interest was supposed to be created with even more borrowing, so that we could earn it and pay back what we borrowed. Guess what: Boomers are beyond their peak borrowing years. Bank credit cannot be inflated non-stop. This is why there is not enough money for everybody to earn and pay back what they owe. Bankers got bailed out, someone else will pay it. And that is the average American who got the short stick now. Do not hope for much. prepare yourselves: http://www.tradingstocks.net/html/prepare_for_market_crash.html

Obama is not going to fix anything, he and his fellow communist looters are idiots who has never had real jobs, have never built anything, and who could run a donut shop. People need to wake up and understand that we cannot consume more than we produce or we will go bankrupt...too late, we're bankrupt.

Unemployment is the result of deflating money supply. Government cannot fix it. We need to pay off debt and start fresh. The debt levels are too high: http://www.tradingstocks.net/html/inflation_deflation_credit_bub.html

Damn Yankees!

Americans are grown up children, it is sickening seeing all these losers expecting free handouts, like healthcare. As the WW2 generation dies out, all that is left are crying babies that dont know how to take care of themselves. Waaa. Obama and his kind will be the end of America. Next year the system will completely melt down, and there will be a revolution.

this market just isn't based in reality. so the market is up today ?? forget whether you think this is a long term rally or the end is near, being up after this number came out is just not normal. I am now convinced this is people borrowing at 0%, putting the money in the market and cashing out their profits. A ponzi scheme always comes to an end.

Resultant productivity increases have been excellent. No need to start rehiring any time in the foreseeable future.

Don't be fooled by the headline number. U-6 is at 17.5% and tracking quite closely with the Great Depression. http://www.bearmarketcomparison.com/Bear-Market-Comparison-Unemployment-Rate.htm

Did the banks stress test for 10.2% in 2009.... er no! Why is the market not worried? UK banks have had to have a second bailout. Did the US banks get a secret one?

Obama is so concerned about unemployment that he's trying to ramrod a health care bill through Congress that would make more businesses, especially small ones, lay-off more workers or maintain their current payroll because they will be forced by Uncle Sam to offer insurance to all their employees. It's Econ 101, folks.

Yahoo! Finance User - Friday November 06, 2009 01:49PM EST Obama just sent his US Secretary of Labor to go meddle in Honduras. /////////////////////////////////////////////////////////////////////////////////////////////// Interesting. Thanks.

Things would be much worse without the Stimulus. Truth is we need another one (would the dollar crash? No. See Prechter clip today on TechTicker to understand why). But its politically impossible.

Has nobody noticed that long term bonds are rising?

YAAAAAA employment is up ... lets all buy stocks!

Unfortunately, I think high unemployment is here to stay. Our current comsumer based economy cannot sustain the good paying educated jobs like it did. Why pay an engineer 50hr in the US, when you could outsource it for 7hr to a developing nation. Most people are rethinking thier careers, and taking paycuts rather then get laid off. Thanks for nothing congress...

No, we dont need more stimulus, that's BS, from a BS artist. What we need is to produce more than we consume, and use the extra to pay off debt. Again, people are fools, they just want more of the same, or they are criminals, and want to steal what they didn't earn.

Unemployment is up and still rising - yet the DOW continues to rise - I guess we should all start singing "Happy Days".

Americans are grown up children, it is sickening seeing all these losers expecting free handouts, like healthcare. As the WW2 generation dies out, all that is left are crying babies that dont know how to take care of themselves. Waaa. Obama and his kind will be the end of America. Next year the system will completely melt down, and there will be a revolution.\\\\\\\\\\\\\\ Well said. But revolution? Consider how the babies behaved when Katrina struck. Rather chaos and mayhem. Mad Max, here we come.