I think Obama should change his slogan from FORWARD to DOWNWARD. It seems more appropriate.
Last night, Obama had the audacity (of hope) to say this:
But know this, America: Our problems can be solved. Our challenges can be met. The path we offer may be harder, but it leads to a better place. And I’m asking you to choose that future. I’m asking you to rally around a set of goals for your country— goals in manufacturing, energy, education, national security, and the deficit; a real, achievable plan that will lead to new jobs, more opportunity, and rebuild this economy on a stronger foundation. That’s what we can do in the next four years, and that’s why I’m running for a second term as president of the United States.
We can choose a future where we export more products and outsource fewer jobs. After a decade that was defined by what we bought and borrowed, we’re getting back to basics, and doing what America has always done best:
We’re making things again.
I’ve met workers in Detroit and Toledo who feared they’d never build another American car. Today, they can’t build them fast enough, because we reinvented a dying auto industry that’s back on top of the world.
I’ve worked with business leaders who are bringing jobs back to America— not because our workers make less pay, but because we make better products. Because we work harder and smarter than anyone else.
I’ve signed trade agreements that are helping our companies sell more goods to millions of new customers— goods that are stamped with three proud words: Made in America.
After a decade of decline, this country created over half a million manufacturing jobs in the last two and a half years.
And then today, we get the August jobs report.
96,000 new jobs.
And, in addition to the HORRIBLE jobs report, the last two month’s reports were revised.
Compounding the weak August report, July and June payroll numbers were also revised down. July payrolls rose 141,000 compared with the initially reported 163,000, and June was up 45,000 versus an earlier estimate of 64,000.
Fresh on the heels of the DNC convention, and Joe Biden’s claim that we have “turned the corner”, one would have to be a high as this woman to believe that we are headed in the right direction:
She can scream it all she wants, but the numbers do not lie. Math. It’s hard.
There’s no way to color today’s jobs report positively despite the drop in the unemployment rate to 8.1% from 8.3%. The number of people in the labor force fell 368K from July and those not in the labor force climbed 581K. Meanwhile, the number of people counted as employed in the household survey falls 119K. There is a 250K drop in those counted as unemployed, but those people fell out of the work force and didn’t find jobs.
All of Mr Obama’s hopey-changey words are not going to bring this country back.
One other major asterisk to afix to the jobs data: labor force participation has tumbled all the way down to 63.5%, the lowest level since Sept. 1981, according to CNBC. That’s a long time, and it’s not a good sign for anyone looking to take a positive angle on these numbers.
Labor force participation, for folks watching at home, represent the number of people of working age who are actively employed, or looking for work. It also excludes so-called “discouraged workers,” who have simply thrown in the towel on looking for jobs, either because they aren’t there or because they’re out of their reach.
I wouldn’t think that this would need to be explained, but it does. Last week, someone on facebook told me that not counting folks (in the unemployment number) who were not looking for work anymore (those discouraged workers) “didn’t even make sense”. So I say the following just in case she’s here reading (doubtful):
The unemployment number has only gone down because people have stopped looking for work.
I almost vomited when Obama said this:
America, I never said this journey would be easy, and I won’t promise that now. Yes, our path is harder— but it leads to a better place. Yes our road is longer— but we travel it together. We don’t turn back. We leave no one behind. We pull each other up. We draw strength from our victories, and we learn from our mistakes, but we keep our eyes fixed on that distant horizon, knowing that providence is with us, and that we are surely blessed to be citizens of the greatest nation on earth.
That road we’re traveling on? There have been books written about that road. Quick review:
he Road to Serfdom is a book written by the Austrian-born economist and philosopher Friedrich von Hayek (1899–1992) between 1940–1943, in which he “warned of the danger of tyranny that inevitably results from government control of economic decision-making through central planning,” and in which he argues that the abandonment of individualism, classical liberalism, and freedom inevitably leads to socialist or fascist oppression and tyranny and the serfdom of the individual. Significantly, Hayek challenged the general view among British academics that fascism was a capitalist reaction against socialism, instead arguing that fascism and socialism had common roots in central economic planning and the power of the state over the individual.
Sounds familiar, doesn’t it? We’ve watched it over the past four years.
And he has the nerve to mention “providence”? From a party that booed God the other day? The irony is rich.