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Oh No, Joe Biden Loses Ultimate Democrat Fangirl Chuck Todd
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June 05, 2009
"The Treasury Bond Market Is In Cardiac Arrest Today"Interest rates soar on jobs data, putting housing at risk Now, I guess maybe I'm stupid, but I don't get this penultimate sentence: The May employment data offer real hope for an economic rebound. But can we have a lasting recovery if the housing market isn’t part of it? What? The numbers were horrific and even worse than the somewhat-less-horrific expectations. Where is the LAT finding a silver lining here? Anywhere they can find it, or pretend to find it, as this must-read piece argues. Counterpunch is actually a lefty site. But even they notice. Last week we got a whole series of bad reports on the state of the economy. New and existing home sales both remain near their lowest level for the downturn, as house prices continue to drop at the rate of 2.0 percent a month. New orders for capital goods, a key measure of investment demand, fell by 2.0 percent in April. Excluding the volatile transportation sector, new orders were still down by 1.5 percent. The media understands, I think, that it has bet the ranch on Obama. Their fates are now intertwined. Obama is, far more than GM, too big to fail. And they will continue with the bailouts and emergency political capital infusions for as long as their credit -- their credibility -- allows. But that won't be for very long. They are burning through credibility at an alarming rate, and will themselves be bankrupt at about the same time the country is. Thanks to Circa. The "Real Hope:" Buzzion explains: Its because the amount lost was less than what was lost in April or something. They're spinning things so much soon we'll be able to use the media for power generation. Right. Like a wounded man who loses a pint of blood in a hour, then another pint, then another pint... and then only half a pint. Must be getting better, right? Or: He's almost out of blood entirely and his heart is barely pumping it anymore. More Explaining: Terry Notus writes: There are two numbers: 1) Job losses 2) Unemployment So previously they were "discouraged workers"? Why did the media not inform us that such "discouraged workers" existed anymore? Ah, okay. As Geoff noted: While I was waiting for May’s numbers to be released I did a quick Google News search on “unemployment.” Here is the first set of entries that popped up:Pittsburgh unemployment rate falls to 6.9 percent -- Bizjournals.com - Unemployment in the Pittsburgh area inched down in April to 6.9 percent… I do see now where one could claim that the numbers are "encouraging"... but only if one focuses laser-like on one metric and ignores the other. I would have thought it hard to spin a 9.4% unemployment rate. I was wrong.
I simply think this is the economy and Wall Street hating on a black man as president. Obviously. Morpheus... explains more, and makes a good point. I think they are looking at the nonfarm payrolls number from the establishment survey. That was down 345K, but expectations were for a loss of 520K. Also, net revisions to prior months was +82K. These figures were on balance a positive, given the dire economic scenario priced in by bond markets. I suppose these numbers are "positive," but only when compared to expectations of an even worse bloodletting. I guess it is fair to look for a silver lining and say the "rate of losses is going down." Sort of. Eh, I don't think it's a genuine bottoming. I guess time will tell. And Morpheus is 100% right in pointing out that, under Bush, the media always focused on the downbeat indicators. Under Obama, it only focuses on the positive. What accounts for that, I wonder. | Recent Comments
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Oh No, Joe Biden Loses Ultimate Democrat Fangirl Chuck Todd
Corrupt Gangster Moll "Super-Mayor" Kicked Off Ballot for Reelection Catherine Herridge: I Had the Support of CBS's Owner, Shari Redstone, To Pursue the Hunter Biden Laptop/Corruption Story. But Liberal Executives at CBS Told Me They "Weren't Interested" in the Story The French Super-Minority Government Collapses In No-Confidence Vote; PM Will Resign Claim: Words Were Written on Assassin's Bullets -- "Deny," "Depose," and "Defend" -- Which Reference an Anti-Health-Care-Corporation Book The Morning Rant Mid-Morning Art Thread The Morning Report — 12/5/24 Daily Tech News 5 December 2024 Wednesday Overnight Open Thread - December 4, 2024 [TRex] Search
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The Ace of Spades HQ Sex-for-Money Skankathon A D&D Guide to the Democratic Candidates Margaret Cho: Just Not Funny More Margaret Cho Abuse Margaret Cho: Still Not Funny Iraqi Prisoner Claims He Was Raped... By Woman Wonkette Announces "Morning Zoo" Format John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia World Muslim Leaders Apologize for Nick Berg's Beheading Michael Moore Goes on Lunchtime Manhattan Death-Spree Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears Liberal Economists Rue a "New Decade of Greed" Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility Intelligence Officials Eye Blogs for Tips They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq Leather-Clad Biker Freaks Terrorize Australian Town When Clinton Was President, Torture Was Cool What Wonkette Means When She Explains What Tina Brown Means Wonkette's Stand-Up Act Wankette HQ Gay-Rumors Du Jour Here's What's Bugging Me: Goose and Slider My Own Micah Wright Style Confession of Dishonesty Outraged "Conservatives" React to the FMA An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear The Story the Rightwing Media Refuses to Report! Our Lunch with David "Glengarry Glen Ross" Mamet The House of Love: Paul Krugman A Michael Moore Mystery (TM) The Dowd-O-Matic! Liberal Consistency and Other Myths Kepler's Laws of Liberal Media Bias John Kerry-- The Splunge! Candidate "Divisive" Politics & "Attacks on Patriotism" (very long) The Donkey ("The Raven" parody) |