Widgetized Section
Go to Admin » Appearance » Widgets » and move Gabfire Widget: Social into that MastheadOverlay zone
The Economy of 2011 Looks A Lot Like the Economy of 2008
Now that Osama Bin Laden is dead and watching himself on television in hell, it seems we can resume where we left off prior to the stunning reveal that Osama was killed: trying to function in a toilet economy. If only we could get President Obama to order a bunch of Navy Seals to shoot a loathsome terrorist in the face everyday.
The fragile economic recovery took a major hit when it was revealed that unemployment back to 9 percent, with real unemployment at 22 percent, according to dailyfinance.com. Energy and food costs continue to skyrocket as jobless benefits dwindle and wages are stagnant for the fortunate ones who still have crummy jobs. Worse yet, there’s a vast number of people owing more on their houses than the houses are actually worth. In fact, a record 28 percent of single-family homeowners, according to CNBC.com.
”Home value declines are currently equal to those we experienced during the darkest days of the housing recession. With accelerating declines during the first quarter, it is unreasonable to expect home values to return to stability by the end of 2011,” Zillow chief economist Stan Humphries said in a statement.
So remember when all those brilliant financial wizards with used car salesmen smiles were imploring Americans that their house was their best investment? Remember how they relentlessly advised them to take out the biggest mortgage they could get to buy the biggest house they possibly could (and even suggesting they fib about their income in order to get an even bigger one, because what could go wrong?), because prices were going to keep going up, forever, and they were all going to be gazillionaires with robot butlers made out of gold and commodes that converted their waste into Dom Perignon and caviar? It’s a good thing those advisers all got fired and went to jail.
Sadly, not a single one of those mountebanks were held accountable for their dubious advice. In fact, they were rewarded with million dollar bonuses and golden parachutes. Recession for the rest of us serfs, diamond-encrusted Hummer yachts for Wall Street. That almost sounds like a Charlie Sheen style of “winning”.
Not to worry huddled-around-flaming-garbage-can-masses, because the Republican controlled House has your back and will not rest until you have a new crummy job. Just let them finish redefining rape and assaulting Planned Parenthood (clearly the group responsible for they 2008 economic collapse) and they will be all over jobs bills. Well, at least ones that create jobs for those willing to commute to factories in China.
Related Posts :
Ok, for your late night snack, I am giving you the video of all videos to explain ObamaCares so clearly ...
In November of 2010, the United States voted into office a sweeping number of Republicans who made a ple ...
For those of you out there that gave the Republicans the benefit of the doubt, that perhaps they were ju ...
The Republican recession took a little over two years to eliminate almost an entire decade of job creati ...
In the fight for capital investment, CEOs invest in themselves rather than their companies. No wonder th ...
9 Responses to The Economy of 2011 Looks A Lot Like the Economy of 2008
Public Service Advertisements
Reynardine
May. 12th, 2011 at 9:18 am
We can all safely predict that the Kochtopus/ Chamber of Commerce/ CNP will do everything in their power to collapse the economy by 2012, and so will their marionettes in Congress. Our nation is suffering identity theft.
Ray Medeiros
May. 12th, 2011 at 9:27 am
Although the unemployment went up, the silver lining was it jumped because more discouraged workers are getting back into the job search.
BUT the down side is government employee lay offs caused it to spike also. Job numbers will be out today. We will see soon
Shiva (Moderator)
May. 12th, 2011 at 9:45 am
it’s my understanding that unemployment rate went up because more people are trying to get back into the job market. At least that was one of the explanations I heard on a couple of different news sources
Oldsun
May. 12th, 2011 at 12:07 pm
Yes the real unemployment numbers are going down as people see ops in the job market hat is why the so called unemplyment rate is going up this is actually good news. The real unemployment rate was at 24% so it is two percent down from its high in mid 2009.
Shiva (Moderator)
May. 12th, 2011 at 9:34 am
this really begs to make one wonder what the Republicans would be like if they were really in power. The American public would really have to lay down and asked to be kicked in order to elect any Republican to the high office.
I am quite upset that the banks and mortgage companies have not been punished. It’s bad enough that the banks are laughing at us with her bonuses over the housing market but doing the same in the oil market as well. When will we get any elected politicians to do anything about these banks?
michael hayne
May. 12th, 2011 at 5:39 pm
We can only get “campaigning” politicians to pay lip service to to our concerns, but once elected they must get in line with their campaign benefactors and give them huge subsidies and tax breaks. In my view, it starts and ends with campaign finance reform. Of course the McCain/Feingold campaign fincance reform created bundlers and trailblazers, and I would say that Citizen United deliverd the final death blow to democraruc elections even haveing the superficial appearance of being democratic. Autocrarcies are flagrant, but this oligarchic corporate fascist country of ours is becoming less subtle and more flagrant.
Nothing
May. 12th, 2011 at 1:20 pm
“… with real unemployment at 22 percent”
(insert Super Troopers “Mother of God” jpeg here)
sherriww
May. 13th, 2011 at 9:23 am
i was just reading something in The New York Times,and since it is something about the economy that I strongly believe,and support,I wanted to mention it before I forget to today. One,was about unemployment.And,may I say that,because my Mother and Dad were MUCH older when they had me-Mom was in her late 40s and Dad was 56!-and of course that meant my Grandma was older too,so I grew up listening to all the stories of the real Depression.They were fascinating and tells me what we need to be doing now.As in the NYT said,I learned how the government put in a Public Works Program(WPA I think it was)-anyway,it put millions back to work,rebuilding our infrastruture,and put this country on the path to sustained recovery,so that peple were working and the defecit(far worse than today)got paid down quickly,and EVERYBODY prospered,poor,middle class,and the rich! That is what Pres. Obama WANTED to do,but Teapubs/Repubs shouted him down! It worked then,it would work now,and Repubs KNOW it well as I do!Our infrastruture is in BAD shape anyway,from roads to gas lines and underground water pipes,ALL OVER THE U. S.-and they HAVE to be fixed anyway soon,so it would put everybody back to work,give the taxes we need to support the country and be Win-Win-BUT,Repubs dont WANT anybody to know that,and also,many or most of the new ones are so young,and did not have my background to understand about the Depression,so they are leading us down a Path of No Recovery! Some older Repubs KNOW that,but they are drunk with Power&Money,and dont care about you and me AT ALL! Today,we simply CANNOT TRUST REPUBLICANS to look out for us,or fix the country,because they WILL NOT do it!
sherriww
May. 13th, 2011 at 9:51 am
The other thing in the NYT,that I wanted to say,is about these Congressional Freshmen,NOW ASKING DEMS NOT TO TELL THE TRUTH TO SENIORS,ABOUT THE REPUBS DESTROYING MEDICARE! Man! THAT takes the cake for SURE! After THEY LIED,about how THEY would PROTECT seniors,to get elected-unbelieveable!And,shows how REALLY STUPID they are,and they HOPE We are! Good Lord! Anyway,someone in the article pointed out that the Teapubs REALLY just want to get their foot in the door,so to speak,on destroying Medicare&Soc.Security,ANDMedicaid,by saying” noboby under 55″;and THEN they will make it a Two-tiered thing,and that person predicted the Seniors drawing NOW,will SEE BIG CUTS IN 5 YEARS,if they get away with this! They also pointed out what I have been saying too-we HAVE to watch MediCAID too!-Because-nearly 75% of MIDDLE CLASS SENIORS SPEND ALL THEIR SAVINGS AND HAVE TO HAVE MEDICAID HELP FOR NURSING HOME CARE LATER ON! MediCAID is what pays THE DIFFERENCE,between your SS check and what the Nursing Home charges,and without it you CANNOT get Nursing Care;simple as that! Listen,We have ALL worked TOO HARD TO LET REPUBS PUT US ON THE STREET WHEN WE ARE 90yrs OLD,AND THEY WOULD DO IT,NO DOUBT, IF THEY GET THE CHANCE. Vote,and Vote for PRES.OBAMA and All DEMS,because they are our ONLY protection against the Money/Power Drunks of the CURRENT REPUB/TEAPUB politicals ALL OVER THIS COUNTRY RIGHT NOW!Most of them will” Throw us under the Bus” IN A HEARTBEAT,IF WE GIVE THEM THE CHANCE-Dont Do it-I certinly will NOT!