U.S. private sector axes 532,000 jobs in May

cobra de capell · #1 (**permalink**) 06-03-2009, 12:45 PM

http://news.yahoo.com/s/nm/20090603/...employment_adp

Oh no.....what about....

Glimmers of hope!
Turning the corner!
Light at the end of the tunnel!
Finally hit the bottom!
Recovery may come sooner!

oh, wait...

Ron61 · #2 (**permalink**) 06-03-2009, 01:16 PM

Quote:

Originally Posted by cobra de capell

http://news.yahoo.com/s/nm/20090603/...employment_adp

Oh no.....what about....

Glimmers of hope!
Turning the corner!
Light at the end of the tunnel!
Finally hit the bottom!
Recovery may come sooner!

oh, wait...

Ray,

Faulty Teleprompters when he was saying all of that. After all he has the taxpayers money to take his wife for a night on the town in New York. He has turned the corner and sees the light at the end of the tunnel. Hopefully is is a speeding train.

Ron

Sharroll Celby · #3 (**permalink**) 06-03-2009, 04:05 PM

Well, they dont call it the "Bush Recession" for nothing!

trularin · #4 (**permalink**) 06-04-2009, 08:10 PM

So, if you have 100,000 go jobless last month and 100,000 go jobless this month, does that mean there was no increase in unemployment?

Is this the new government "cheer the masses" project?

Why is it I am always the last guy to hear this stuff.

Scott S · #5 (**permalink**) 06-05-2009, 08:48 AM

I am trying to do my part, I may put 3 or 4 men back to work next week after a 2 month layoff.

I have been talking to my heavy equipment finance broker and he tells me that nearly 60% of all industrial equipment loans in the US are now late, in default, or requesting relief.

That is some scary stuff.....

Scott S

Ron61 · #6 (**permalink**) 06-05-2009, 08:53 AM

Scott,

Good luck and I hope that things will work out for you soon. Even a few people going back to work here and there will be a help and maybe signal the beginning of a turn around in the economy. I sure hope so.

Ron

Dan40 · #7 (**permalink**) 06-05-2009, 11:04 AM

We got "through" the sub-prime mortgage bust and resulting financial industry meltdown by throwing money, we don't have, at it. Didn't solve anything but hid it under a pile of money. We still have the PRIME mortgage bust to hit, and the resulting financial industry devastation. Followed closely by the Commercial real estate crash. Financial industry will be in the morgue by then. By then the money printing presses will be worn out and broke down.

Have a nice day!

In 68 years, I've never felt more like I hope I'm completely wrong, or more worried that I'm not!

Ron61 · #8 (**permalink**) 06-05-2009, 11:10 AM

Dan,

I agree with you, but at least we can hope for better things. I even saw a sign in one of the stores here the other day that they were hiring some people. That is the first time I have seen a sign like that around here for 3 years.

Ron

cobra de capell · #9 (**permalink**) 06-05-2009, 01:47 PM

It's just an illusion - the worst has not even arrived yet.

Dan40 · #10 (**permalink**) 06-10-2009, 10:55 AM

Quote:

Originally Posted by Ron61

Dan,

I agree with you, but at least we can hope for better things. I even saw a sign in one of the stores here the other day that they were hiring some people. That is the first time I have seen a sign like that around here for 3 years.

Ron

There will always be some small anecdotal flashes within the big picture. But the Big Picture is still that 400,000 to 600,000 are losing their jobs each report and we will surpass 10% unemployed soon. Recently obummer said he will SAVE or create 600,000 jobs this summer. How? An obummer defender admits that 125,000 will be summer intern Government "jobs!" And 135,000 teachers in financially strapped Ca. will be PAID by the Feds, rather than being laid off. So that is 260,000 of the "600,000" established as BS going in. The balance remains mythical.
Significant, and lucky for liberals that they do not recognize HISTORY, that today obummer emptily promises to save or create 600,000 jobs.
Not many MONTHS ago he PROMISED that HE had a PLAN to CREATE 3,500,000 jobs. He never revealed a single word of that plan. Then it became SAVE or create 3,500,000 jobs. And now it is down to save 600,000 jobs ONLY for the summer and that method is pure unproductive BS.

Thank You President BS obama. But he is consistent, he lies constantly about everything.

cobra de capell · #11 (**permalink**) 06-10-2009, 12:05 PM

Well, the proof of whether of not Obama's stimulus is working is in the job numbers as we go forward. Now, the 10 year treasury securities auction settled today at 3.99%, (one year ago 2.20%) meaning that rates are going up and this will be followed by higher mortgages rates, soon. And, housing will be negatively impact by higher market rates.

If housing doesn't come back, we are in for a very long recession plus all Obama's spending compounds the problem.