Saturday, October 24, 2009

"Living With" Ten Percent Unemployment

Yes folks, ten months into the Administration of the Exalted Messiah, we're beginning to transition from the "I inherited a mess" excuse for the continued economic troubles to the "new norm" explanation for the economic mess we're still in:

WASHINGTON -- Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years.
That could add up to a "new normal" of higher joblessness and lower standards of living for many Americans, some economists are suggesting.
The words "it's different this time" are always suspect. But economists and policy makers say the job-creating dynamics of previous recoveries can't be counted on now.

First of all, let's put to bed the notion that there is some type of "economic revival". Last time I checked, just like the definition of a recession is two quarters of negative economic growth, the definition of a recovery ought to be two quarters of positive economic growth. Sorry to burst The Messiah's bubble but we didn't even have one quarter of positive economic growth. What we have is the lapdog liberal media peeing their pants at every little teeny-tiny scintilla of evidence that there might be some positive economic news and immediately pouncing on it to declare the recession over. Let's look at the facts:

* For the entire eight years of the Bush Administration liberals and their lapdogs in the press were declaring that the growth years of the Bush Administration were the worst for the economy since the Great Depression even though the exact opposite was the truth.

* During a Republican administration, the media trot out the soup line occupants and homeless shelter sad sacks at the first sign of one minor economic indicator dropping 1/100th of a percent. In fact, even during the boom years in a Republican administration (which are most of the years of a Republican administration), you can't get past the stories about the people the economy has "left behind". Oddly enough, during a Democrat administration -- especially The Messiah's administration -- these stories are non-existent, even as the economy continues to tank.

* In the U.S., we are used to robust economic growth (spurred by conservative economic policies) interrupted by short recessionary pullbacks (spurred by liberal economic policies -- this is an historical fact). In all past cases -- even preceding the Great Depression -- the definition of a recovery has been wild economic growth that has brought us back to the baseline and past it in a matter of months. Nothing even close to that is happening right now.

*The Dow has been lingering between 9,000 and 10,000 for the past 3 months and the trend could only be described as mediocre -- it's not exactly charging ahead. Every major economic indicator -- unemployment, consumer confidence, home sales, household income -- are in the tank. None of them have even come close to approaching their pre-recession baselines. Yet the press jumps up and down for joy at new home sales being up a few percentage points when they are actually comparing new home sales to the previous year when they were at record lows. Can you imagine ANY member of the press talking about a "jobless recovery" with a straight face during the last administration? Of course not. But in the era of The Messiah, it's actually given serious consideration. NEWS FLASH: You can't have a "recovery" without jobs because if people are still losing their jobs, the economy isn't recovering. Likewise, would the press have accepted a Bush Administration estimate of "saved jobs"? Of course not, but they lap it up when Obama and his minions talk about how many jobs their massive, irresponsible spending has "saved".

The facts are that the only reason why we will have to "live with" chronic 10+% unemployment (17+% if you count those who have given up their search or have taken part time employment) is because liberal economic policies -- talk of higher taxes on everything from cow farts to soda pop, crushing debt that threatens double-digit inflation and the loss of our AAA credit rating, absolute, unadulterated out of control government spending on top of out of control spending -- are going to continue to kill this economy and make it so that we WILL have to "live with" protracted economic malaise. We know what will fix this. We know how we can pull ourselves out of the Obama economic malaise. All we have to do is learn from history: Conservative economic policies grow the economy, liberal economic policies kill the economy. We can fix this by throwing the liberal bums -- Democrat and Republican alike -- out and electing good conservatives who will institute pro-growth economic policies.

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