Unemployment now at 9.8% - headed above 10%?

[YoUDeeMan]

Hits a 7 month high.

"Mark Zandi, chief economist at Moody’s Analytics, said he expects the nation’s unemployment rate to soon move above 10 percent.

“If it’s not in December, it’s early next year, but I don’t see how we’re not going to get into double digits,” he told CNBC Friday.

The economy would need to consistently add 200,000 to 300,000 a month to make a noticeable dent in the unemployment rate, analysts say. It could take until near the end of this decade to drop the unemployment rate to a more normal 6 percent, they say.

Friday’s jobs report was a disappointment to economists, many of whom had predicted the addition of nearly 150,000 jobs in November."

http://www.msnbc.msn.com/id/40489052/ns ... ?Gt1=43001" onclick="window.open(this.href);return false;

Well, enough of the economy and jobs talk...lets get back to health care, inflating the deficit, and the Affy war. Those things are top priorities off some people.

[AZGrizFan]

Sweet. That stimulus plan is working out JUUUUUST like Obama planned.

[Ivytalk]

Thufferin' thuccotash! What a robutht recovery!

[OL FU]

The best way to have a recovery is let things bottom out which of course we have tried our best not to do. Not sure when housing will since we are having such a hard time knowing who owns the debt:-)

[bluehenbillk]

Thufferin' thuccotash! What a robutht recovery!

Rep Points for you, errr, whatever happened to that??? Oh yea, wrong, never mind

[CitadelGrad]

Where's jellybelly to tell how how lucky we are to have Obama running the show?

[Bronco]

Fear mongering to get teh stimulus passed OhBummer argued that if the stimulus did NOT pass unemployment might rise all the way to 9%. He also promised if it were passed it would cap unemployment at 8%.

Promised change and instead using old policies from 70's and 30's that obviously don't work.

How much damage can this gang do in teh next two years? Impeach this MF

[BlueHen86]

Sweet. That stimulus plan is working out JUUUUUST like Obama planned.

They should use the stimulus money to fund extended unemployment benefits as opposed to whatever they are using it for now. I've heard several economists (conservative and liberal alike) say that unemployment is a good use for stimulus money since the recipients have to spend it and therefore put it back into circulation.

The current stimulus plan clearly isn't working.

[89Hen]

Where's jellybelly to tell how how lucky we are to have Obama running the show?

good luck finding him on this one.

odds on him, Jon, Travis, houndawg, etc... making an appearance?

[CID1990]

"Bush started it" iin 5....4....3....2....

[Skjellyfetti]

Where's jellybelly to tell how how lucky we are to have Obama running the show?

How's your head and shoulder forecast?

[AZGrizFan]

Where's jellybelly to tell how how lucky we are to have Obama running the show?

How's your head and shoulder forecast?

Nice red herring. CG's "head and shoulder" forecast isn't keeping people from working. Obama's fucked up guesstimates on the impact on unemployment of the $850 billion stimulus package show what a collossal dumb fuck he really is.

[CitadelGrad]

Where's jellybelly to tell how how lucky we are to have Obama running the show?

How's your head and shoulder forecast?

It wasn't a forecast. It was an observation that a large part of the H&S pattern had formed. I never said that the pattern would form completely. I only said that it could. I also pointed out the implications of a completed pattern.

Anyway, the main reason that it didn't form is largely related to quantitative easing in which the Fed printed a shitload of new money and bought toxic assets from banks with it. The banks used that money to inflate the price of equities. The S&P 500 P/E ratio is around 22 right now. How long do you think that can be sustained?