Uhhhhhhhhhhh Teleprompter, What do we say now; it’s Bush’s Fault; yeah it’s Bush’s Fault!
Friday’s release of the latest unemployment numbers sent Wall Street along with Main Street further into apoplectic shock! Of course the Emperor had planned his triumphant return to Rome (Chicago) fresh from victory over the Copenhagens would overshadow the release of these figures and soften the blow! Curses foiled again! Who could have predicted His Majesty would fail? Didn’t the bumpkins that make up the Olympic Committee realize to whom they were saying no?
Either way the alarming news that the Unemployment Rate rose to 9.8 percent in September, the highest since June 1983, fell unabated on an unsuspecting previously adoring public. Now, the Anointed One is faced with the task of selling the fact that employers cut far more jobs than expected in the face of his never ending chorus of “The Stimulus Package is working”; “we’ve saved one zillion jobs!” The report is evidence that the worst recession since the 1930s is still inflicting widespread pain and getting worse not better!
The fact that the economy is getting worse by the day isn’t surprising to anyone that has followed this administration’s policies. You do not stimulate growth and prosperity by threatening the private sector with Cap and Trade, Card Check and Health Care Reform. What you do is send business into hibernation, awaiting the overthrow of this Socialist Administration in 2010 and 2012! Persistently high unemployment has thwarted the recovery as consumers, concerned about their jobs and incomes, restrain spending which accounts for about 70 percent of the nation's economy.
Uhhh Teleprompter, how do we spin the news that the Labor Department announced Friday that the economy lost a net total of 263,000 jobs last month, (wonder how many were saved) from a downwardly revised 201,000 in August. Damn those Copenhagens, I was supposed to be able to totally obscure this news with my Olympic Conquest!
Another unreported fact is this current number does not include laid-off workers who have settled for part-time work or have given up looking for new jobs. When they are included the unemployment rate rose to 17 percent, the highest on record. Does anyone remember the term “Stagflation”? Now you know why Jimmy Carter is smiling; he will no longer go down as the worst president in American History!
All total, 15.1 million Americans are now out of work, the Labor Department said. Most economists expect the rate to top 10 percent and keep climbing. Federal Reserve Chairman Ben Bernanke said Thursday that even if the economy were to grow at a 3 percent pace in the coming quarters, it would not be enough to drive down the unemployment rate. Bernanke said the rate is likely to remain above 9 percent through the end of 2010. So, I ask, How’s That Hope and Change Working for You?
The average hourly work week fell back to a record low of 33 in September. That figure is important because economists are looking for companies to add more hours for current workers before they hire new ones. Why would anyone hire new workers when this administration has pledged to make the ones you have now cost much more in the future? The confiscatory anti business policies emanating from this current Oligarchy makes employers reluctant to hire.
Now here’s a real shocker, construction jobs fell by 64,000, more than the 60,000 eliminated in August. Wait a minute, what about all those “Shovel Ready Projects? Weren’t they directly related to the construction sector? So you can appreciate the predicament the Imperial Emperor finds himself in. Faced with the hard cold facts the Private Sector isn’t buying his Marxist proposals and the dumbed down public that elected him is rapidly waking, how does he continue to fool them? Perhaps he should turn to Tingly Leg Mathews, Queen Oprah or Pervert Letterman for some cover while he and his Teleprompter work this out!