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05:00 PM on 08/08/2010
Obama and his policies are destroying the USA. This is sad and preventable. No Democrat should be elected to anything higher than dog catcher. EVER.
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Levonsky
a fan of enlightened self interest
09:39 AM on 08/09/2010
Democrats AND republicans have been complicit in the demise of America for the benefit of corporations.
Your one sided comment denotes a narrow mind.
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Pamela Grundy
Freelance writer & blogger.
07:49 AM on 08/10/2010
Obama is ONE GUY. This mess has been building for 30 years now and both parties are complicit. It's so infantile, this constant harping on Obama. Demonizing Obama is one way corporations and uber-rich keep us at each other's throats and away from theirs. And it works, too.
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sarabono
Oldie but Goody
03:19 PM on 08/08/2010
Well that doesn't look good.

Maybe we should quite giving away so much money and instead use it to pay tuition for engineers, scientists, teachers so we can keep talent here in America.
01:55 PM on 08/08/2010
The story of why we are losing jobs isn't told in these statistics.

Obama insists that increased exports support the creation of American jobs and to that end new or revised trade agreements are being created, e.g. the new trade agreement with Korea means increased exports that would support the creation of about 70,000 American jobs. The truth courtesy of publiccitizen.org, "If we were to account for the effects of imports, use this same method of jobs calculation, and consider the effect of the Korea FTA on the U.S. global trade balance...we would find that the Korea FTA would cost us a net 2,100-2,700 jobs..."
http://citizen.typepad.com/eyesontrade/

There were reports last week that the US was contributing $10,000,000 to an education program in Sri Lanka. Through USAID we will contribute to educating students in Sri Lanka to take 3000 American IT and related jobs in companies like Oracle. The students will be educated without charge and Oracle will be able to take advantage of offshoring jobs to save costs on labor. We are going to do the same in Armenia.

No stimulus will counteract these agreements.
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Marianne TB
02:48 PM on 08/09/2010
no stimulus will counteract over half of our spending being sent to the DOD or trillion dollar wars for empire, either.
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Pamela Grundy
Freelance writer & blogger.
07:51 AM on 08/10/2010
Why do we have to police the world? Defense is always off limits, but that's where the lion's share of the money goes. What if we just stop fighting incomprehensible foreign wars in places that have already been blown up forty times over? I don't know, it's just a thought.
12:11 PM on 08/08/2010
1 in 8 on food stamps
1 in 100 in jail
26% not working (includes those who choose not to work - 17% are 'underemployed')
50% not paying Federal taxes
Pension funds underfunded by over $3 Trillion
Social Security and Medicaid underfunded by WAY more than that
Debt to GDP ratio over 400 % including the above - over 100% not including the above

Outlook: BLEAK...no matter WHO is in charge. No ONE person is to blame - every citizen, politico etc. are all a part of the 'great unraveling' of our society - an unravelling which will continue unabated after the elections.

My guess at (near) future headlines:

"SOCIAL SECURITY CONTRIBUTIONS INCREASED; RETIREMENT AGE RAISED"
"Pension Fund Cuts to Continue to 2012"
"Obama: VAT Tax Here for a While"
etc
etc
etc
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Marianne TB
02:49 PM on 08/09/2010
'never ending trillions for wars'
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notillegal2
04:26 PM on 08/09/2010
Obama Obama he's our man. If he can't do it...........That might help us.
11:58 AM on 08/08/2010
Gerald Celente on The wallstreet shuffle 02 Aug 2010
http://www.youtube.com/watch?v=GBWUF-mcxys&playnext=1&videos=o2NanJBLuJY&feature=sub
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Ravyn
10:21 AM on 08/08/2010
I remember reading a few years ago how difficult it was for a company to fire someone because people could sue them. I don't know how widespread that was but I have a feeling that some companies (some which were not in dire financial straights) took advantage of the economic collapse in 2008 to downsize and get rid of personnel they didn't want who otherwise might have been hard to let go so those people will never get rehired by their old employers no matter what happens in the economy.

Some potential good news is a report this week at GE and some other manufacturers are looking to bring some manufacturing they moved overseas back the the U.S. because shipping and other costs have risen and they've realized it is easier to do everything stateside but a lot of thing may not happen before next year and the salaries being offered will be much lower (I think the report I read said it they would be around $13 per hours, down from over $20 per hour before the jobs went overseas).
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08:42 AM on 08/08/2010
Come on higher taxes, higher health care cost and more regulation is the way to more jobs. Who would not hire more folks knowing they can pay more for each employee and make less money.

Come liberals and long term out work folks stick with the Big O. He has a plan that will fix everything starting in 2013 if you reelect him. But it is secret so you must reelect him to get it.
07:01 AM on 08/08/2010
The jobs news is not good. Hopefully, consumer spending will increase in coming months and create new jobs.
12:05 PM on 08/08/2010
Um...no.
dgoose50
Proud Socialist
12:08 AM on 08/08/2010
One thing the great Depression had that this one doesn't, was a strong Kick Ass leader .Obama is a geat lecturer but he seems to lack the testicular fortitude to push needed reform through.Its time to kick ass and take no prisoners.
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06:14 AM on 08/08/2010
and who could do better?
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10:27 AM on 08/08/2010
That's the problem in a nutshell.
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Wendy Davis
Banned!
02:36 PM on 08/08/2010
Hiliary Clinton
12:06 PM on 08/08/2010
the thing the great depression had that is one doesn't was the ability to access a hug supply of commodities that are now being constrained. Copper supplies are constrained, oil production has peaked and going into decline, a lot of raw materials are constrained http://blogs.ft.com/brusselsblog/2010/06/eu-report-speaks-of-critical-shortages-of-14-raw-materials/

That didn't exist during the depression. WWII caused them to be constrained but the resource was still potentially available to grow out of the depression. That economic climate no longer exists.
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11:22 PM on 08/07/2010
"Do I laugh or cry" to observe the bouncing back-and-forth of political parties? As though one (pick one) was the villain, and the other (pick the other) was the savior?

Think again.

You are not looking at anyone's "recession here." Compare this to the (easily available online) "timeline of the Great Depression," or plot some of the data that -is- in fact available from the NBER (part of the guv'mint) during those years.

The timeline, however, is probably the most revealing. It will show how both the Congress and the Supreme Court had also been "thouroughly 'bought'" back then, and how they were merrily "assisting" corporations through 1929, 1930, and even 1932. We are LITERALLY witnessing a repeat of the past ... excuses and all.

And, does it really have anything to do with "one political party vs. the other?" Not this time, and not last time, either. When the money is flowing thick and fast, no one gives a damn what color T-shirt a politician prefers to wear. Money talks equally well to all.

If you ever thought that "bribery is a victimless crime," or anything less than a ruthless High Crime that actually kills people (and worse), kindly think again . . .
11:57 PM on 08/07/2010
It's the WD.C.WF.....the Washington DC Wrestling Federation. Washington politics looks more and more like Saturday night Wrestling with it own cast of good guys vs the bad guys.

And the people who marry their world view to that game think it's all real, too.
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MIVOTE
Adds wisdom to knowledge
11:11 PM on 08/07/2010
First, what kind of chart is that? I'm skeptical of any truth behind the jobs numbers at this point.
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08:44 AM on 08/08/2010
So the unemployment rate is going down and the government is keeping it a secret? Guess the Big O does not want folks to know things getting better?
12:14 PM on 08/08/2010
You're skeptical of anything that doesn't state in unequivocal terms that Obama is:

a: A handsome, strapping lad
b: Going to fix everything and lead us to a blissful, collectivist existence
c: The most capable leader in history
d: Supposedly one heck of a lover as well

Well, newsflash - he's NONE of the above (don't know about 'd' of course). And above all else...

HE WORKS FOR YOU NOT THE OTHER WAY AROUND. THEY AREN'T LEADERS. YOU LEAD YOUR D*MN SELF. YOU ARE THE BOSS, NOT HIM.

WAKE UP
WAKE UP
WAKE UP
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MIVOTE
Adds wisdom to knowledge
05:19 PM on 08/08/2010
Look, listen and learn...the media lies...about just about everything.

I can be skeptical
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Bluemax1
As thoughts manifest your Universe is created.
10:00 PM on 08/07/2010
"In 1933,...the New Deal and the U.S. Congress diligently investigated the banking system and the practices of its most powerful leaders. They found many malpractices, which we will discuss later. Most prominently they found the banks loaded with worth less mortgages on properties that were not salable because-uninhabitable..." The government said, "The first thing we must do is make those mortgages we're inherited worth something."

"To those who understood some of its intricacies, everything was now out in the open about the world of banking. The New Deal said it was going to prohibit usurious rates of interest-"the banks must earn enough to keep themselves going, but only can charge 1 1/2 percent for interest." Banks were regulated just the like Post Office. No banker had authority beyond that of a postmaster. The New Deal completely separated from banking what Morgan and many of the private banks had been doing-taking deposit money and putting it into common stocks and even into the banker's own highly speculative private ventures. Thus came the New Deal's Securities and Exchange Commission and the complete separation of banking and initial risk financing-or, at least, supposedly so. Bank's trust departments could as yet buy and sell corporate venture stocks for client's accounts however."

Buckminster Fuller "Critical Path"
Tinsdale
"Character is Destiny."- Heraclitus
02:20 PM on 08/08/2010
Bluemax1,
Thanks for posting the Buckminster Fuller " Critical Path" excerpts.
09:51 PM on 08/07/2010
And the republican party, who created this mess to being with, have done what to help us out of it?

Oh yeah, thats right, they have done noting but obstruct every single effort they can to make sure America remains in a recession.

Now can a rightie explain why your party is trying to destroy America?
11:10 PM on 08/07/2010
HON. RON PAUL OF TEXAS
IN THE HOUSE FINANCIAL SERVICES COMMITTEE
September 10, 2003
Fannie Mae and Freddie Mac Subsidies Distort the Housing Market
http://www.house.gov/paul/congrec/congrec2003/cr091003.htm

Nancy Pelosi, Barney Frank, and Democrats are Clueless on Freddie Mac Fannie Mae and the financial credit crisis. http://www.youtube.com/watch?v=hxMInSfanqg

http://www.youtube.com/watch?v=9nU3fNh-PRk&feature=related

http://www.youtube.com/watch?v=RYz1rbB5V1s&feature=related

Austrian Broadcasting Co
Four Corners - Mortgage Meltdown
http://www.abc.net.au/4corners/special_eds/20070917/subprime/default.htm
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suds mcduff
we're not perfect, but they're nuts!
03:22 PM on 08/08/2010
"September 10, 2003"
Hmmm, who held the majority of the legislative and the WH in 2003?

Utube, no thanks....highly editable, don't use it as a reference and don't accept it as one, either....
04:56 AM on 08/08/2010
Good point. The party of NO has to GO
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Yurdelite51
09:19 PM on 08/07/2010
Welcome to Saturday at the HP...tr0lls gone wild defending the indefensible republican th.ugs who killed our country with their greed. Now, their tr0lls work the internet and media spreading their lies and distortions so they don't have to answer for the destruction wrought upon our country by their masters---the republicans.

In the words of their failed leader--"Bring it on..."
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themodernleader
08:04 PM on 08/07/2010
I have repeatedly warned that our predatory capitalism of a gluttonous, unbridled financial institution coupled with trade mercantelism (with America as the colony) and accompanying trade and fiscal deficits (and tax avoidance for the rich) would destroy our economy. Now we face an ever enlarging depression of suffering and hopelessness that endangers are form of government.
Instead of addressing the source of our problems we pander and feed further their gluttony and greed. We are a sold out organization that is asking to be replaced.