The Bad News About Your Job

HE GREAT BUSH DEPRESSION
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
He perfectly predicted the current meltdown and the picture he paints about what will happen next
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
The government took them over because they are bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
the credit markets are frozen and all of us may suffer beyond anything seen in generations
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand how its been broken.
It is no surprise that he doesn't. The people that make up these securities use quantum mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He was the last to know somthing was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a budget surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?
Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
which means running the biggest smear campaign in history.
They think they can just tell you lies and you wont be smart enough to see through it
Let's teach him we are smarter than that
Stand up and hold them accountable
Bush isn't on the ballot this year but his policies are
Elect Obama Biden 2008






Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
http://www.youtube.com/watch?v=r36Xc0GG4iQ

After 9/11, the US government started rounding up Muslims without cause and without due process of law, like we did to the Japanese Americans in WWII. The Bush administration called it's main internment camp Guantanamo Bay. While there are certainly many guilty terrorists held in Guantanamo, there are also many innocent American citizens who have been held illegally for years without even being charged with any crime. They have been tortured by our government. Some of them have died.

Recently the Supreme Court ruled against the Bush administration in the matter of Guantanamo Bay. The Supreme Court Justices were NOT on the side of the terrorists. They were on the side of the Geneva Convention, that says you can not torture POWs, and on the side of US laws that state you can not imprison a person without charging them with a crime and bringing them to trial. I'm sure that like most Americans, the Justices who voted against the illegal, immoral doings at Guantanamo didn't feel sympathy for the terrorists. They felt sympathy for the laws of AMERICA, the land of the FREE, where even rat finks get a fair trial.

Meanwhile, back in Iraq, the Bush administration is busy trying to build a smokescreen to hide the CRIMES they have committed. Those pesky weapons of mass destruction. Just think, the National Debt went up over 6 trillion dollars under Bush. More than 2 TRILLION of it went directly into the pockets of Halliburton, a corporation owned by the Cheney family. Halliburton is now a DUBAI corporation and therefore is not subject to US taxes. All that money they took out of the US Treasury is going into the coffers of a MUSLIM country.

Did you hear about how the US government is being charged millions for Halliburton deliveries of sand into Iraq from Kuwait? Sand. Like there is a shortage of sand in Iraq? Another contractor shipped sand from Idaho to Iraq at our expense. Nobel prize winning economist Joseph Stiglitz discusses these and other excesses of our current government's out of control spending in Iraq.

Your grandchildren will be working like slaves to pay off this debt, so that the Bushes and Cheneys can live the high life in Dubai.

Yeah, they're patriots, Bush&Co. They wear flag pins. And hide the money they stole from America in Dubai.

And they want me to believe that Obama is a socialist. Right.

In case you think McCain is any different than Bush, watch this:

http://www.youtube.com/watch?v=PdJUCU1UH2w

People on these bogs are fond of saying that the current economic meltdown was caused by Fannie Mae and Freddie Mac underwriting bad mortgages. While Fannie and Freddie obviously are guilty of writing bad mortgages, and worse, guilty of lobbying Congress to allow them to do so with impunity, their actions are just a small piece of the puzzle when it comes to determining who (or what) caused the financial crisis we face today.

In 1929 the stock market crash caused the banks to fail, because the banks were in bed with the stock market. Back then, banks owned investment houses, so when the stock market fell, the banks fell too. This triggered the Great Depression. So in 1933 the Congress wrote laws that regulated banking, making it illegal for banks to own investment companies, mortgage guaranty companies or insurance companies. The idea was to keep key industries separated by a fire wall, so that if one industry failed the whole economy would not go down in flames.

But the Republicans under Bush deregulated the banking industry. Senator Phil Gramm wrote legislation (the Gramm Rudman Act, the Gramm Leach Biley Act, etc.) that stripped away the regulations in the financial and insurance industies. He pushed them through the Republican Congress and they were signed into law by Geo. W. Bush. John McCain voted in favor. Everybody said how great it is to deregulate and create free markets.

Lehman Brothers, Bear Stearns and Merrill Lynch each gave over a million dollars to Senator Gramm's re-election campaign.

The economic collapse that happened later was a direct result of the deregulation, and here's how: the banks wrote bad mortgages, then bundled the mortgages into investment vehicles that they sold all over the world, and they even got firms like AIG to insure the investments. It was all a house of cards.

If there had been no deregulation, sure we would have had a bunch of bad mortgages, and the mortgage guaranty and real estate industries would have suffered, but there would not have been a global financial meltdown, since the problem would have been contained in one sector of the economy. You can thank Geo W. Bush, Sen. Phil Gramm and Sen John McCain for the meltdown, since they were strong proponents of deregulation.

Furthermore, although Fannie and Freddie are now holding the bulk of these bad mortgages, Fannie and Freddie did not originally write most of these mortgages. They bought them after the fact, bundled by banks/investment companies. Fannie and Freddie got screwed by the Wall Street fat cats. And so did you, if you pay taxes.

What is Phil Gramm doing today? He works as a lobbyist in Washington, trying to make it legal for the Swiss bank he represents to sell Death Bonds in the United States. Nice guy, Phil Gramm. Incidentally, John McCain has said that he wants to appoint Phil Gramm as Treasury Secretary. Some people just can't learn from their mistakes.

People on these bogs are fond of saying that the current economic meltdown was caused by Fannie Mae and Freddie Mac underwriting bad mortgages. While Fannie and Freddie obviously are guilty of writing bad mortgages, and worse, guilty of lobbying Congress to allow them to do so with impunity, their actions are just a small piece of the puzzle when it comes to determining who (or what) caused the financial crisis we face today.

In 1929 the stock market crash caused the banks to fail, because the banks were in bed with the stock market. Back then, banks owned investment houses, so when the stock market fell, the banks fell too. This triggered the Great Depression. So in 1933 the Congress wrote laws that regulated banking, making it illegal for banks to own investment companies, mortgage guaranty companies or insurance companies. The idea was to keep key industries separated by a fire wall, so that if one industry failed the whole economy would not go down in flames.

But the Republicans under Bush deregulated the banking industry. Senator Phil Gramm wrote legislation (the Gramm Rudman Act, the Gramm Leach Biley Act, etc.) that stripped away the regulations in the financial and insurance industies. He pushed them through the Republican Congress and they were signed into law by Geo. W. Bush. John McCain voted in favor. Everybody said how great it is to deregulate and create free markets.

Lehman Brothers, Bear Stearns and Merrill Lynch each gave over a million dollars to Senator Gramm's re-election campaign.

The economic collapse that happened later was a direct result of the deregulation, and here's how: the banks wrote bad mortgages, then bundled the mortgages into investment vehicles that they sold all over the world, and they even got firms like AIG to insure the investments. It was all a house of cards.

If there had been no deregulation, sure we would have had a bunch of bad mortgages, and the mortgage guaranty and real estate industries would have suffered, but there would not have been a global financial meltdown, since the problem would have been contained in one sector of the economy. You can thank Geo W. Bush, Sen. Phil Gramm and Sen John McCain for the meltdown, since they were strong proponents of deregulation.

Furthermore, although Fannie and Freddie are now holding the bulk of these bad mortgages, Fannie and Freddie did not originally write most of these mortgages. They bought them after the fact, bundled by banks/investment companies. Fannie and Freddie got screwed by the Wall Street fat cats. And so did you, if you pay taxes.

What is Phil Gramm doing today? He works as a lobbyist in Washington, trying to make it legal for the Swiss bank he represents to sell Death Bonds in the United States. Nice guy, Phil Gramm. Incidentally, John McCain has said that he wants to appoint Phil Gramm as Treasury Secretary. Some people just can't learn from their mistakes.

The Bad News...

More Trickle-Down Economics will NOT work. More corporate
tax breaks and deregulation mean executives are paid millions
of dollars, jobs are outsourced and creditors become loan
sharks!

Re-Unite and Rebuild!

Focus on Rebuilding Infrastructure, both physical and human.

The Physical Infrastructure that supports a society, such as
roads, bridges, water supply, waste water, power grids, flood
management, communications, etc.

The Human Infrastructure that supports and makes possible the
American Way of Life: The Middle Class, The Working Class...
The Middle Income!

Who will...

1) Stop job outsourcing?
2) Bring outsourced jobs back?
3) Make quality education and job training available to all citizens?
4) Make quality health care available to all citizens?
5) Promote, support and protect small business growth?
6) Protect consumers from banking, lending and credit bureau abuse?
7) Protect the Constitutional rights of all citizens?

Re-Unite and Rebuild!

The article misses the entire group of people who managed to find jobs, have benefits, but earn only a small fraction of what they used to earn because some CEO upped his collossal bonus by sending the job to Bangalore.

Anybody with several functional brain cells realizes that the DOL tries to paint as rosy a picture of the economy as it can. This happens in all countries. And personal political extremist viewpoints only make people look like sheeple, regardless of whether they are on the left or the right. Neither party is 100% right or wrong, so when people talk like that all they do is prove they are little more than just members of a cult.

Hate to break the news to you, but it's really about 25%. Think about it, most construction workers are paid 1099 or under the table, they are out of work. Most technical worker's jobs have been offshored to India, they are out of work. All IT shops in American have been replaced with foreign workers. I don't think most people understand that the US companies have joined the bandwagon to hire outside of America, instead of hiring their own people. Now they are realizing that if they don't hire Americans, there will be no one here to buy their products and pay taxes. Since they have hired so many non-Americans (to save a buck) they have lost the competitive edge and lost American innovation, only to get big bonuses at the end of the year. These companies should not be bailed out at all until they enact a hire americans only policy.

The article missed the category or those that have full time jobs with benefits, but are way below their job skills and earn only a fraction of what they used to earn, because some CEO with a huge bonus sent his job to Bangalore.

It's a very difficult time. And being unemployed effects people more than financially. I am blessed to have a good job, but I was unemployed for a long time. It was psychologically impacting. My heart goes out to you. I wish you the best of luck in finding a job you love. I heard a joke; "Obama the good news is you're president. The bad news is ... you're president."

95% are employed, 2% lost a job but will be employed again, 3% make no effort. That's all anyone needs to know. www.CareerSitesCompany.com

How is it that the author can state with a straight face that underutilization is historically high? This underutilization, according to the same article, hasn't even been measured before mid-90's. So, the author has no clue what this measure would have been like in the past resessions, such as the one in late 80's. His implication that this underutilization is a recent fenomenon, or that the ratio of underutilization to real unemployment is somehow increased is completely without basis. I imagine there were quite a lot of folks who had given up on the job search back then (in fact, I know quite a few such people personally). The whole point of the article, that we can compare raw unemployment numbers recorded during past resessions with the unemployment plus this new underutilization measure is simply idiotic at best, purposely misleading and alarminst at worst.

How is it that the author can state with a straight face that underutilization is historically high? This underutilization, according to the same article, hasn't even been measured before mid-90's. So, the author has no clue what this measure would have been like in the past resessions, such as the one in late 80's. His implication that this underutilization is a recent fenomenon, or that the ratio of underutilization to real unemployment is somehow increased is completely without basis. I imagine there were quite a lot of folks who had given up on the job search back then (in fact, I know quite a few such people personally). The whole point of the article, that we can compare raw unemployment numbers recorded during past resessions with the unemployment plus this new underutilization measure is simply idiotic at best, purposely misleading and alarminst at worst.

I have been unemployed for the first time in my life for the last 17 months going on 18. I have continued to look for a job and have had no luck. I have been saying this for over a year that the ???unemployment figures??? that they are reporting are mis-leading and low, because people like me are not included. I hope that people will realize that we are in bad shape economically and as a country.

Most of us Northern California have seen our jobs offshored to India (appx 10 million) These jobs were keeping America going, mortgages paid, taxes paid. Also, since 1996 we have hired 300,000 East Indians per year, to come and work at most American corporations (totalling 5 million) These 15 milliion jobs belong to Americans and are spawned by corporate greed. Go to one of your local corporations and see who is going to work in the morning, you will see that there are a huge amount of non-Americans going to work.

Correction, I meant Newsweek, not MSNBC

I have been out of work for 17 months going on 18. I have continue to look for a job with no luck but I am no longer collecting unemployment since my benefits ran out. I have been saying this for over a years that the "unemployment figure" are mis-leading because it does not included people like me. I hope people will see the writing on the wall and see that as a nation and our economy is in very bad shape.

The Title of the article is misleading and inflammatory. Its not about "my job" it's about how unemployment statistics are formulated.

When is MSNBC going to become a News Organization again instead of a Left-wing propaganda organ?