Job losses, unemployment fall

Republicans rooting for the failure of the Obama administration will be disappointed by today’s unexpected jobs report that showed unemployment falling from 10.2% to 10%, while the U.S. economy lost only 11,000 jobs in November.

Not a stellar day for Mark Griswold.

Update [Darryl]: From the Bureau of Labor Statistics report comes this graph (with colors modified to reflect political party):

Jobloss12-2009

Notice the November number is practically zero compared to numbers from the past 22 months. The graph highlights the differences under Republican economic policies compared to Democratic economic policies.

It also substantiates the labels: “The Bush Recession” and “The Obama Recovery.”

Comments

  1. 5

    Zotz spews:

    All: The link below is to a Google chart (U3 rate %, by State) that is updated regularly using BLS numbers. It’s set up for Maine, Vermont, and NH. But you can click WA, or any other State and compare, as well as overall US.

    http://www.google.com/publicda.....0:ST500000

    WA is 8.8 (Oct), hasn’t been updated for Nov yet.

  2. 8

    Mr. Cynical spews:

    Fed officials said they expect the jobless rate to remain between 9.3% and 9.7% by this time next year, and to settle above 8% in 2011, levels usually seen in recessions.

    As Darryl knows, there was a bit of an over-reaction with layoffs that is being adjusted at this time…particularly in the Financial Sector. Economic indicators often show some short-term over-reaction…..that is the case here. Look at Gold Prices…they have over-reacted and will adjust. True for any commodity…including labor.

    Much ado about nothing.
    Whenever you throw a huge wave of cash into the economy, you will get some short-term bumbs. The problem with the Obam-Mao strategy is someday you will have to pay this debt off…and at least pay the interest.
    This is what deficit spending is all about.
    Try to create some optimism…with borrowed money.

    Does ylb have a job yet??
    When that happens, one could surmise the recovery is happening.

  3. 9

    Mr. Cynical spews:

    In addition, these Unemployment numbers fail to tell the whole story.
    The real national unemployment rate is far worse than the U.S. Department of Labor’s figures show. That’s because the official rate doesn’t include the 3.7 million-plus people who are reluctantly working only part time because of the poor labor market. And it doesn’t include the workers who have given up lookin’ for seemingly nonexistent jobs.

    It’s nice to see the KLOWNS try sooooooooo hard to justify Obam-Mao’s failed economic policies. The real shit will hit the fan when the next generation struggles with the debt they allowed Obam-mao to create. The joke will be on THEM!! Anyone can elevate their standard of living temporarily with massive debt. It’s when the bills come due when we see the day of reckoning.
    Obam-mao wants us to be equal with 3rd World Countries. It’s his ideology that we are too successful at the expense of others.
    Explain to your kids & grandkids why this is such a good idea….ok?

  4. 10

    correctnotright spews:

    @8: Klynical with an IQ below that of most imbeciles:

    Hmmm. So you reject Reagonomics because that is what he did – throw billions in wasted defense spending at the economy and got a short term bump at the expense of record deficits?

    Or are you a complete hypocrite?

    Do I even need to ask that question?

  5. 11

    Mr. Cynical spews:

    10. correctnotright spews:

    @8: Klynical with an IQ below that of most imbecile:

    Hmmm. So you reject Reagonomics because that is what he did – throw billions in wasted defense spending at the economy and got a short term bump at the expense of record deficits?

    Start out with name-calling…you already lose.
    Reagan busted the hump of the Soviet Union with virtually no American casualties. He busted them economically…just like Obam-Mao is allowing China to do to us with Massive Deficit Spending & Debt for no purpose whatsoever.

    Grow up and wise up.

  6. 12

    Mr. Cynical spews:

    Unemployment rate for Blacks 16-24 is now 29%.
    Do you think this has any impact on the crime rate? The problem is a lot of these young people have been systemized into the Leftist way of entitlement. They need mentor’s like Puddy to de-program them from the Welfare state and show them they can make it with hard work and sacrifice. Sittin’ around druggin’, screwin’ and gettin’ handouts is precisely what the Jesse Jackson’s and Obam-mao’s of the world want. Dependency. What if 1/2 of Black America was like Puddy?? What a great country this would be. Work hard & sacrifice. Instead, we have this tragedy.
    Crime stats, out-of-wedlock birth stats and these unemployment stats tell you what Progressivism has created…and will continue to make worse.
    Keep the Black Folks on the plantation and make them think you are on their side is the Progressive mantra. But do nothing.
    Raise taxes on Rich Folks and give a few scraps to the Black folks…that will create more jobs. Idiots.

  7. 13

    Mr. Cynical spews:

    BTW, the 29% Unemployment Rate for Blacks 16-24 is not the real rate. When you look at those who are chronically unemployment & have given up or are way underemployed, it’s probably closer to 40%.

    Obam-Mao has really helped these folks, huh?

  8. 14

    Marvin Stamn spews:

    Unemployment is higher that oba-mao said it would be if we followed his beliefs that a stimulus would do something besides create fake congressional districts.

    Oba-mao lied, people are homeless.
     
    You would know about the homeless if the liberal media concerned themselves with “average people” when a democrat was in the white house.
     
    Besides, honestly reporting on the homeless doesn’t benefit oba-mao.

  9. 15

    Marvin Stamn spews:

    2. Chris Stefan spews:
    Why do Republicans hate America?

     
    democrats are in charge in case you don’t know.

  10. 17

    Mr. Cynical spews:

    Omigosh!
    Obam-mao tried to cheerlead these Unemployment Numbers in an area in Pennsylvania where 41,000 are unemployed!
    Mr. Prezdint…
    These folks care about jobs…not your friggin’ misleading stats. They care about REAL JOBS…so the relevant number is still almost 18% Underemployment.

    http://www.foxnews.com/politic.....-greeting/

    What an insensitive KLOWN Obam-Mao is!
    These folks want to hear only about how he will help businesses create jobs.
    Instead, they get this??
    Obam-Mao is klyinically insane and klinically insensitive and TERMINALLY OUT OF TOUCH will real Americans.

    It just keeps getting worse.

    It used to be Obama could get a bouce after a speech. Early on he got big bounces.
    Once folks started to question him the bounces got smaller.
    Now that folks KNOW Obam-Mao is nothing but a big BULLSHITTER…nothing. No bounce.

    50 speeches and here is where he sits.
    The more speeches, the worse it is for him.

    Maybe Obam-Mao needs to go on Oprah and Letterman again?? Oh yeah, that doesn’t help either.

    Arrogance of Obam-Mao…playing Americans of all colors as fools.
    We are a forgiving people who want a strong, free, free from big government Country.
    Obama has to get back to the politics of what he detests and put on another CHARADE!

  11. 18

    slingshot spews:

    The tighty-righties are shitting their pants everytime goods news about the economy hits the wires. If, and it’s a big if to be sure, the economy is humming in 2012 they’ll be nothing more than a ruinous, smoldering burned-out pile of smegma. Just imagine how ludicrous their birther-Palin-Beck horse shit will seem.

  12. 19

    PoliticalCorrectnessKills spews:

    Since we passed the stimulus, unemployment won’t pass 8 percent…oh wait.

  13. 20

    Michael spews:

    @15

    The fact that Democrats are in charge does nothing to negate the fact that Republicans hate America.

  14. 21

    Michael spews:

    @17

    We’ve built the last 30 years of our economic life on deficit spending (both governmental and personal), bubbles and fudged numbers. The recovered American economy will probably bare little resemblance to the pre-crash economy. Look for unemployment to be higher (than the pre-crash) from here on out. But also, look for crime to be lower because people are at home looking out for their neighbors, look for parents doing more volunteering in kids schools, and a higher personal savings rate as people ditch their credit cards.

    Your narrowly picked and focused econometrics don’t mean much in the long run. The next economy will be better than the last economy.

    http://www.google.com/hostedne.....AD9BS81K00

    http://www.boston.com/business.....e_210.html
    And as the nation has rekindled its sense of thrift – today’s personal savings rate of 4.5 percent is double that of a year ago – financial institutions are offering a flurry of deals to entice shoppers looking for the perfect savings account, certificate of deposit, or stocks or gold bullion for their friends and family.

  15. 22

    Mark1 spews:

    ‘Job losses, unemployment fall’

    But of course HA’s favorite chronically unemployed clowns such as Goldy and YLB remain seated bangin’ on the drums all day….

  16. 23

    MikeBoyScout spews:

    While the news cannot be characterized as good, the reaction by wingnutia here and elsewhere reflects the incompetence of its leaders.

    House Minority Leader, Republican John Boehner

    “anyone who views today’s report as cause for celebration is out of touch with the American people, especially when Washington Democrats’ policies – whether it’s a government takeover of health care, a national energy tax, or ‘card check’ – are already costing jobs and will pile even more debt on our kids and grandkids.”

    As I’m bored, I’d love to read the wingnuts explanation for how things which have not yet been enacted by Democrats are the cause of job loss and debt, and how what Republicans enacted and managed prior to the recession is not. Please, inform us.

  17. 24

    correctnotright spews:

    @11: Name calling? No I am just calling like it is – you are a hypocrite and an ignorant fool.

    You have proved that many times over.

    Thanks for not answering the question and going off on Reagan and the Soviet Union….Reagan created the largest budget deficits in history and wasted billions on a “Star Wars” missile defense that still doesn’t work.

    Still wating on whether you are a hypocrite or just incredibly stupid….your choice.

  18. 25

    correctnotright spews:

    @Klynical: Hypocrite

    Wasn’t it GW Bush and the other republicans who said the economy was sound?

    Did you not make this same pathetic argument during the election?

    In fact, the economy was in a free fall and it has been the worst economic conditions since the great depression.

    And your solution was…….nothing. the stimulus package has mitigated the worst effects of the economy – but it is still not recovered. Private industry is not hiring yet….and you blame Obama for the Bush recession?

    What a tool!

  19. 26

    correctnotright spews:

    @23: Mike BoyScout

    Nice catch – the “proposed” health care reform clearly caused the recession that started over a year before Bush left office, according to an idiot like Boehner.

    Is this the best the republicans have?

    How sad.

    They might as well run an idiot like Klynical – a buffoon with limited frontal lobe capacity.

  20. 27

    correctnotright spews:

    @22 Luckily for Mark – we still need to pick up the garbage.

    How is that job coming, Mark? Figure out where the curb is yet?

    The chronically stupid trolls still come on here and contribute nothing to the discussion.

  21. 29

    Michael spews:

    @27

    Garbage Men work their asses off. I doubt Mark could handle it. Plus, it’s a union job and, of course, we know how wing nuts feel about unions.

  22. 30

    Roger Rabbit spews:

    Job Losses Fall But Gold Plunges

    The unemployment rate isn’t the only thing that fell today. GOLD is down by almost 60 bucks an ounce. It’s almost time to start feeling sorry for Mr. Cynical.

  23. 31

    Roger Rabbit spews:

    Now just watch — Klown is gonna post that he got out of gold and took his profits yesterday. Klown always times the market perfectly. (Note, the only time that’s possible to do is after the fact.)

  24. 32

    Roger Rabbit spews:

    The next step is to raise interest rates. There’s plenty wrong with the Fed’s zero-interest-rate policy. It fosters the disastrous easy-credit policies that got us in this mess, incubates inflation, weakens the dollar, creates new financial bubbles, and punishes savers. Seniors who depend on savings interest for a significant part of their income are especially (and unfairly) hard-hit. When interest rates are below the rate of inflation, as now, that encourges indebtedness, not saving, and also encourages people to flee to “inflation hedges,” artificially driving up prices of commodities like oil, copper, wheat, etc. In the current weak-demand economy, businesses will find it difficult to pass these price increases through to consumers, forcing them to resort to further cost-cutting in the form of eliminating jobs and reducing work hours. The Fed’s interest rate policy is counterproductive and an immediate substantial increase in short-term rates is needed.

  25. 33

    Roger Rabbit spews:

    @22 “But of course HA’s favorite chronically unemployed clowns such as Goldy and YLB remain seated bangin’ on the drums all day….”

    I see that you’re bangin’ the drum at 11:30 AM, too, so you must not be gainfully employed, either.

    Please understand, Mark, I’m not criticizing you for idle slothfulness. Only fools work. Smart money sleeps ’til noon and does no work. It’s simple math. Why get up at 6 AM, fight commuter traffic, and be someone else’s slave for $10 an hour, when you can make $500 in five minutes by flipping stocks without even getting out of bed? And then the gummint taxes your wages 3 times as much as it taxes lazy, unproductive, and useless asset flippers like me. Why the hell would anyone work under a system like that? I don’t, and you apparently don’t, either. Maybe you’re not quite as stupid as you look.

  26. 36

    Mr. Cynical spews:

    30. Roger Rabbit spews:

    Job Losses Fall But Gold Plunges

    The unemployment rate isn’t the only thing that fell today. GOLD is down by almost 60 bucks an ounce. It’s almost time to start feeling sorry for Mr. Cynical.

    I bought puts on Gold Stocks recently dumbass.
    I posted it a couple weeks ago.
    On Barrick Gold http://finance.yahoo.com/q?s=ABX

    and RandGold http://finance.yahoo.com/q?s=GOLD

    You are soooooooo envious Rog.
    I made $$ on Gold going up and I’m up on it going down.

    Next time do what I tell you.

  27. 37

    rhp6033 spews:

    Gee, I found myself in (mostly) agreement with the general principles in Cynical’s post @ #8, with minor exceptions. I guess hell has frozen over. But then, I really am, deep down, a fiscal conservative.

    What Cynical doesn’t mention is that for good government to work, in times of relative prosperity the government whould work to have a budget surplus so it can pay off the debt, leaving you room to borrow the money again later if you need to in a time of economic crisis.

    I’ve seen comments to the effect that if the Clinton presidency, along with a Republican congress, had continued their budget/fiscal policy deadlock into 2001 and beyond, the entire national debt would be paid off by now. I’m a bit sceptical of that assertion, because I haven’t seen the numbers, it is a REALLY BIG AMOUNT OF DEBT, and I’m not sure the economic good times could have been projected to continue during the post-9/11 rescession.

    But I have no doubt that we would have been much better off if we hadn’t had the Bush tax cuts, off-budget war spending, prolific use of no-bid contracts, and avoidance of any semblence of financial oversight & regulation which characterized the Bush administration 2001-2008.

    Cynical, Puddy, & others continue to try to re-write even very recent history to pretend that deficit spending only began when Obama took office in January 2009. Fortunatly, most people with a modicum of sense know better.

    If the budget had been handled by the Bush administration and the Republican Congress during most of this decade in a responsible manner, in times of a rescession there would be plenty of leeway in the budget for the government to borrow money to stimulate the economy. Instead, Obama was left with the house on fire, the treasury looted, and the debt already too high. It’s rather disengenious to criticize him for borrowing more money in order to pay for the water to put out the fire.

  28. 38

    rhp6033 spews:

    Cynical @ 12:

    “Unemployment rate for Blacks 16-24 is now 29%.
    Do you think this has any impact on the crime rate? “

    Yep. If the crime rate was 29% for whites, then it would impact the crime rate, also.

    “…The problem is a lot of these young people have been systemized into the Leftist way of entitlement….”

    Nope. The problem is that they can’t get jobs. Isn’t that obvious?

    “…Sittin’ around druggin’, screwin’ and gettin’ handouts is precisely what the Jesse Jackson’s and Obam-mao’s of the world want….”

    Now you are just making things up, as well as propogating racial sterotypes.. Anybody who know’s Jesse Jackson’s programs with young people knows differently, and Obama obviously worked pretty hard to get where he is today.

  29. 39

    Michael spews:

    Fed officials said they expect the jobless rate to remain between 9.3% and 9.7% by this time next year, and to settle above 8% in 2011, levels usually seen in recessions.

    During the Clinton years unemployment was low and so was the personal savings rate. Everyone was working, but no one had anything leftover at the end of the month. A low unemployment rate isn’t the be all and end all of everything.

  30. 40

    Roger Rabbit spews:

    @36 Your market-timing skills are nothing short of amazing, Klown. But I’m a bit prescient too — see #31.

  31. 41

    Mr. Cynical spews:

    rhp–
    Jesse Jackson is a phoney who gained power off the backs of down & out Blacks.
    Yeah, he has some heart-wrenching programs.
    Even a blind pig gets an acorn once in awhile.
    Puddy worked on one of Jesse’s campaigns years ago. Ask him how effective & caring Jesse is.

  32. 42

    Mr. Cynical spews:

    Here you go Rog–

    43. Mr. Cynical spews:

    GBS–
    I told you the only other individual stock-related positions I have are 20 PUT Option Contracts in RandGold (GOLD) and Barrick Gold (ABX).

    I bought in a little over a week ago.
    http://finance.yahoo.com/q?s=GOLD
    http://finance.yahoo.com/q?s=ABX

    The options are about where I bought them.
    The only reason I did this little trade was because I felt gold was due for a significant correction.
    I did ride up the “Gold Rush”. Got out a little early which is OK.
    I have hardly ever bought PUTS.
    Only makes sense as a hedge or short-term play or legalized gambling.

    11/20/2009 at 8:05 am

    Are you an idiot Rog? Or just have brain damage?

  33. 43

    Roger Rabbit spews:

    @8, @37 — I’m reading an investment book right now that makes the same (conservative) argument against government intervention in economic crises. The arguments for letting capitalism’s “creative destruction” run its course, complete with moralizing about how people “get what they deserve,” looks very logical on paper. This is Hooverism in its most brilliant raiment. And in real world terms, it’s about as practical and appealing as arguing that we should let pneumonia kill people instead of giving them antibiotics because “nature has to run its course.” What these (conservative) arguments always fail to mention is there’s a tradeoff between economic efficiency and human misery, and anyone with a reasonable amount of compassion will give up a little economic efficiency to reduce the misery that it creates. It’s fine to talk about economic and financial theory, but when you start to venture into the realm of policy, there are additional factors to consider, and the debate becomes a good deal more complex, and far more subject to value judgments, with far fewer opportunities for certitude.

  34. 44

    Puddybud Remembers Progressives Forget spews:

    There correctnotright goes again…

    So you reject Reagonomics because that is what he did – throw billions in wasted defense spending at the economy and got a short term bump at the expense of record deficits?

    A Democrat Congress created passed those bills with record deficits. Even if Reagan didn’t sign, they would have overridden his veto.

    Good try again correctnotright with revisionist history, like your comment on Phil Jones’ data not being used by the IPCC. DEBUNKED!

    HAHAHAHAHAHAHAHAHA

  35. 45

    MikeBoyScout spews:

    @37. rhp6033 12/04/2009 at 12:55 pm,

    It’s rather disengenious [sic] to criticize …

    The criticism makes no attempt to be genuine or intellectually honest. The wingnut criticism of Obama and the Democrats is all about chest thumping, power grabbing, money stealing, racism and bat shit craziness.

    Whatever the Dems do, no matter the reason or the outcome, the wingnuts are going to profess it is the end of the world, means the Dems lose the next election, or proves Obama is Mao, Lenin, Hitler….

    For conservatives of nearly any thinking stripes, the likely outcome is to stay away from wingnut Republican candidates and support rational, thoughtful alternatives.

  36. 46

    Roger Rabbit spews:

    @45 “The wingnut criticism of Obama and the Democrats is all about chest thumping, power grabbing, money stealing … ”

    Ab-so-LUTE-ly!!!

  37. 47

    Roger Rabbit spews:

    @44 So now you assert Reaganism is the Democrats’ fault?

    HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR HAR

  38. 48

    Roger Rabbit spews:

    @37 (continued) “But then, I really am, deep down, a fiscal conservative.”

    All the real conservatives are Democrats now. The GOP has degenerated into a band of screeching monkeys.

  39. 50

    MikeBoyScout spews:

    @ 44. Puddybud Remembers Progressives Forget 12/04/2009 at 1:14 pm,

    You omitted a few obvious facts about fiscal policy during the Reagan administration.
    (1) President Reagan never submitted a balanced budget to Congress.
    (2) President Reagan rarely vetoed appropriation bills that exceeded his already record deficit producing budgets.

    For all the hype and rhetoric, the Reagan administration was a disaster of its own making in regards to fiscal responsibility.

    The good news for Republicans is that GWB and the Republican Congress GWB governed with was exponentially more fiscally incompetent.
    The bad news is that both Democratic presidents, Carter and Clinton, delivered better fiscal policy than any of the 4 Republican presidents since 1968.

  40. 51

    rhp6033 spews:

    Cynical @ 9: “In addition, these Unemployment numbers fail to tell the whole story.
    The real national unemployment rate is far worse than the U.S. Department of Labor’s figures show. That’s because the official rate doesn’t include the 3.7 million-plus people who are reluctantly working only part time because of the poor labor market. And it doesn’t include the workers who have given up lookin’ for seemingly nonexistent jobs.”

    This was true during the Bush era also. I’ve seen it since the Reagan era, when unemployment numbers continue to be under-reported due to these factors. But Reagan, George H.W. Bush, Clinton, George W. Bush didn’t change the process, because the other side would have used the results against them for political advante (without explaining that the big jump is due to a reporting method change, not an actual change in the real world). So why do you insist that we consider that now that Obama is president? When Bush was president, did you insist that the unemployment numbers then were higher than reported?

    Note that during the Bush presidency, the Republicans did actually change the method of reporting inflation numbers so that it substantially deflated the numbers. Reported inflation rates in some years of around 3.5 to 4.5% were clearly at least double or triple that amount. One of the things they did was take increased in food and oil prices, or any other increases which could be tracked back to increases in fuel or food, out of the calculations. They argued that such catagories shouldn’t be counted because they were subject to too large of fluctuations in value. They also wanted to say that if the numbers should be adjusted downward to account for a computer becoming cheaper as it gets older and closer to obsolescence – I don’t know if they ever actually implemented that one. At the time I complained about it several times on this board, but I don’t remember hearing you complain about this one during the Bush administration.

  41. 52

    Michael spews:

    @51

    In many two earner households the second car, daycare, fast food and pre-prepared meals made necessary by that second job make the second job pretty close to a wash. Look for both unemployment and the the personal savings rate to stay higher than normal as some of the unemployed folks choose to not go back to work. Also, look for the CPI on food to stay low as people cook more food from scratch and don’t drive as much, keeping gas prices low.

  42. 53

    Roger Rabbit spews:

    I’ve been posting on HA for several weeks now that businesses will begin hiring soon because they went too far in cutting production, inventories, and staffing. The dramatic slowing of layoffs represents the turning point. By next spring, we should see robust hiring and improving unemployment numbers.

    The Republican war against overtime pay impedes hiring and contributes to high unemployment. Other things being equal, it’s cheaper for businesses to pile more hours on existing employees than to hire more workers. This is bad for workers, though, because overtime is physically exhausting (and therefore leads to more accidents and health breakdowns) and disrupts their family lives. The time-and-a-half laws that cheap labor conservatives want to destroy — one of the major accomplishments of the labor union movement — give businesses an incentive to expand their payrolls instead of working their employees to death. In fact, if anything, overtime laws should be strengthened by mandating that all overtime will be voluntary and no employer can force an employee to work more than 40 hours a week.

  43. 54

    Puddybud Remembers Progressives Forget spews:

    Things missed by MikeBoyScout who apparently isn’t mentally awake or morally straight with partial truths…

    (1) President Reagan never submitted a balanced budget to Congress. – Did he ever claim to offer a balanced budget?
    (2) President Reagan rarely vetoed appropriation bills that exceeded his already record deficit producing budgets. – Did Reagan have a line item veto?

    See ya

  44. 55

    Mark1 spews:

    Sure am employed, but not as a garbage man. Nice try. I do much better than that thank you. Although I hear garbagemen make a decent living, and there’s nothing wrong with that. Roger Rodent probably gets a decent retirement with his 35 year career as head courthouse janitor, and there’s nothing wrong with that either.

    Again, when Goldy, YLB, and probably correctnotright become gainfully employed and stop bangin’ drums all day, then and only then will we know that things are turning around. Thanks for the laugh though HA Libtardos.

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

  45. 56

    Michael spews:

    @53

    I doubt much of the “buying stuff we don’t need with money we don’t have” sector of the economy is ever coming back and that was pretty big chunk of the pre-crash economy.

    I’m with ya on things perking up next spring, but I think we’ll be living in a much smaller economy from here on out.

  46. 57

    MikeBoyScout spews:

    54. Puddybud Remembers Progressives Forget 12/04/2009 at 2:40 pm,

    Did he [Reagan] ever claim to offer a balanced budget?

    The “promise to balance the federal budget by 1984” is what Reagan ran on, and he broke that promise before the end of his first year in office. FACT

    Did Reagan have a line item veto?

    IRRELEVANT
    Which post WW2 Century Presidents had a line item veto?
    Which post WW2 Presidents signed and managed a balanced budget?
    How many post WW2 Presidents were (a) Republican? (b) Democrat?
    What does that tell you about federal fiscal policy by Republican and Democratic executive branch governments?

    Apparently “mentally awake or morally straight” is something you know as little about as you know about history or math.

  47. 58

    Puddybud Remembers Progressives Forget spews:

    Which post WW2 Century Presidents had a line item veto? None! When Bob Dole sumbitted and got it passed, three Dummocraptic and One RINO went against it. It failed in SCOTUS. Scalia and O’Connor were for it.

    Which post WW2 Presidents signed and managed a balanced budget?

    Which president had a Republican Congress present him a balanced budget which he screamed against (Welfare reform, Fake issue: Cutting school lunches) before he signed it?

    Regarding your other rant Puddy was a Jesse Jackson jockstrap back them. Yep, Puddy was on your side.

    So much for MikeBoyScout paying attention to details.

  48. 59

    Mr. Cynical spews:

    46. Roger Rabbit spews:

    @45 “The wingnut criticism of Obama and the Democrats is all about chest thumping, power grabbing, money stealing …

    Yeah right. Bad try=No Sale.
    Obam-Mao pushed Porkulous.
    Obam-Mao pushed Auto Bailout.
    Obam-Mao pushed Kash for Klunkers.
    Obam-Mao is lying about the cost of Health Care Reform
    Obam-Mao took 92 days to retreat and allow the Taliban to strengthen only to give the General’s 3/4 of the troops they asked for and a July, 2011 deadline…and a lameass speech.

    Those are REAL THINGS KLOWNS.
    All you can do is attack those who criticize.
    Good luck with that.

    Obam-Mao is plunging in the polls with his Marxist gameplan and apathy towards Terrorism.
    Obam-Mao is no leader…he should have stayed at his appropriate level of Kommunity Krook Organizer for AKORN

  49. 60

    MikeBoyScout spews:

    @58. Puddybud Remembers Progressives Forget 12/04/2009 at 3:43 pm,

    Can’t or won’t answer the question?
    Does the stupid burn when it comes out? Cuz it hurts to read it.

  50. 61

    MikeBoyScout spews:

    @45 I wrote

    Whatever the Dems do, no matter the reason or the outcome, the wingnuts are going to profess it is the end of the world, means the Dems lose the next election, or proves Obama is Mao, Lenin, Hitler….

    @59. 12/04/2009 at 3:47 pm Mr. Cynical spews
    7 Obam-Mao-s + 1 Marxist +1 AKORN for a game winning balanced budget and VICTORY in the War on Terrorism!

    Congratulations! You are WINGNUT of the Day!

  51. 62

    MikeBoyScout spews:

    Mr. Cynical, he not only gave a lameass speech, seekrit kommunist files indicate he used a teleprompter. Oh Nooooooooooooooooooooo!

  52. 63

    Don Joe spews:

    RHP spews:

    But then, I really am, deep down, a fiscal conservative.

    I have to say, I cringe whenever someone says this. Repeat after me: cyclical deficits good; structural deficits bad. That’s not politics. That’s Economics.

    The whole point of putting a time limit on the Bush tax cuts was so that it wouldn’t become a structural deficit. All the Republicans who now accuse Democrats of wanting to raise taxes when, in fact, we’re talking about allowing the Bush tax cuts to expire, are really only interested in turning a cyclical deficit into a structural deficit. That’s not Economics. That’s politics.

  53. 64

    GBS spews:

    54. Puddybud Remembers Progressives Forget spews:

    Things missed by MikeBoyScout who apparently isn’t mentally awake or morally straight with partial truths…

    (1) President Reagan never submitted a balanced budget to Congress. – Did he ever claim to offer a balanced budget?
    (2) President Reagan rarely vetoed appropriation bills that exceeded his already record deficit producing budgets. – Did Reagan have a line item veto?

    See ya

    It never ceases to amaze me when people, like my friend Puddy, go on and on about protecting freedom and protecting the Constitution and it’s “original intent” and then say something like the “line item veto.”

    Do you know why the Founding Fathers only gave the president the authority to either sign legislation into law or reject it completely?

    Yeah, because then the executive signing the legislation into law would effectively become a one-man legislator in the Oval office. Thus, destroying one of the 3 co-equal branches of government and effectively turning America into another country run by a King or a dictator.

    I know you don’t intentionally want to hurt America, Puddy, but your gross incompetence in how our country is meant to operate puts or traditional American values and customs at risk.

    Funny how conservatives want it canonize St. Ronnie, yet blame Democrats for his failures.

  54. 65

    GBS spews:


    42. Mr. Cynical spews:

    Here you go Rog–

    43. Mr. Cynical spews:

    GBS–
    I told you the only other individual stock-related positions I have are 20 PUT Option Contracts in RandGold (GOLD) and Barrick Gold (ABX).

    I bought in a little over a week ago.
    http://finance.yahoo.com/q?s=GOLD
    http://finance.yahoo.com/q?s=ABX

    The options are about where I bought them.
    The only reason I did this little trade was because I felt gold was due for a significant correction.
    I did ride up the “Gold Rush”. Got out a little early which is OK.
    I have hardly ever bought PUTS.
    Only makes sense as a hedge or short-term play or legalized gambling.

    11/20/2009 at 8:05 am

    Are you an idiot Rog? Or just have brain damage?

    Uhhhh – huh. Always with the Glory Story after the fact and never before.

    Mr. C when are you ever going to show the trade set up BEFORE it happens.

    You know, like I did!!!

  55. 67

    GBS spews:

    27. GBS spews:

    Mark, Mr. Cynical, Puddy et al:

    While you were babbling on a political blog deriding “libruls” and everything Obama, I was doing my nightly homework.

    Here’s what I found and I’ll share it with everyone. But mostly to give you an example of what you get when you trade your time wisely for something of value. Instead of blogging and whinning about everything Democrats do. Get that Mark?

    Here’s the stock trade of the month and how you construct a winning trade.

    Symbol RMBS.

    Closed today @ $18.35.
    Feb 10 call options sold @ @3.20 each

    Buy 100 shares of RMBS at $18.35
    Sell 1 contract of RMBS Feb 10 calls @ $3.20

    Set your stop loss at (- 8%) of your purchase price or $16.88

    Your cost basis for purchasing the stock is $15.15. ($18.35 – $3.20 call option you get paid for right away).

    The 3 possible outcomes:

    1) The stock price drops to your stop loss trigger and you make $1.73 per share per share ($16.88 stop loss – $15.15 cost basis) or 9.04% (1.73 / 18.35)

    2) The stock price doesn’t drop to your stop loss or gets high enough to get called away, you make $3.20 per share or 17.4% (3.20 / 18.35) and you get to write another coverd call opotion in late Feb at $15.15 cost basis.

    3) The stock price hits the strike price of $19.00 and you get called away. $.65 equity gain (18.35 + .65 = $19.00) PLUS the $3.20 call option = total profit of $3.85 per share or 20.98% (3.85 / 18.35).

    That’s 9.04%, 17.4% or 20.98% in 3 months for an annualized return of either 36.16%, 69.60% or 83.92%. At those rate of returns I’m happy as FUCK to pay SHORT TERM capital gains tax. While some morons want to hold a stock for a year or more to avoid paying a higher capital gains tax.

    I challenge any conservative who thinks they know something about investing to post a better trade in ADVANCE of it happening.

    OK Mr. C., you always like to GLORY HOUND after the numbers are in and you’re always miraculously calling the tops and bottoms perfectly.

    The gauntlet is laid down, the challenge is made to all conservatives. Beat my trade or SHUT the fuck up about your trading conquests.

    CHUMPS.

    Odds are you won’t and you’ll firmly keep your tail between your legs while you piddle on the floor.

    11/19/2009 at 9:55 pm

    Today RMBS closed at $21.32. I’ll probably get called away in the next week or two when the stock hits $22.20 or better.

    So, Mr. C. I reiterate my challenge. When are you going to post the details of a trade BEFORE it happens and explaining your buy and sell rules??

    Huh? Mr. Big Shot investor guy who’s really not a retired union school teacher who had to sell everything and move to shit-hole Montana where the cost of living would support your meager income, when ya gonna construct a trade?

    Instead of the great “short” play on gold after the move in the price happened?

    When? When? When?

    And don’t use that tired, worn out line that I’m some sort of jealous hate monger.

    Just put up or shut up. You’ve been challenged like a man. Will you respond like a man or a Conservative?

  56. 68

    MikeBoyScout spews:

    @ 67. GBS,
    now, now. Everyone knows reality has a well-known liberal bias. If he were to accept your challenge he would be a default liberal.

    I just won a bazillion dollars on 6-7-0 in the lottery yesterday!

  57. 69

    GBS spews:

    MBS @ 66:

    OK no mocking St. Ronnie or his love affair with OBL.

    Can I at least mention his wonderful relationship with Saddam Hussein. Who, could not have effectively used his Weapons of Mass Destruction and killed ten’s of thousands of Iranians without the reconnaissance information Saddam received from Reagan via Donal Rumsfeld?

    Can we talk about that?

    Can we talk about the fact that Ronald Reagan said, and you can Google this one, the Mujahideen terrorists in Afghanistan are the “MORAL equivalence of our Founding Fathers”?

    Can you believe it? Who in the history of the planet has done so much for the advancement of human freedom and liberty than our Founding Fathers???

    Let alone some terrorists in Afghanistan!!!

    NO ONE should be compared to our Founding Fathers until they have done equally as much. That’s all I’m sayin’!

    I would never compare towel head terrorists with George Washington, Thomas Jefferson, Ben Franklin, Thomas Paine et al.

    Ronald (6) Wilson (6) Reagan (6) truly the anti-Christ.

    May Reagan and all his followers burn in Hell for hating America and our Founding Fathers.

    Can I say that MBS?

  58. 70

    GBS spews:

    MBS @ 68:

    WOW!! You, TOO!!!

    I’ve never ever gotten one lottery number wrong in my life.

    I guess I should play a ticket tonight.

    Oh, come on now, everyone knows that “liberal bias” is code word for news anchors are lying.

    Only Flush Limpdick tells the truth.

  59. 71

    Roger Rabbit spews:

    @55 “Roger Rodent probably gets a decent retirement with his 35 year career as head courthouse janitor, and there’s nothing wrong with that either.”

    Since what lawyers do is clean up other people’s messes, I suppose it’s not totally out of line to refer to us as “janitors,” in a manner of speaking.

  60. 72

    Roger Rabbit spews:

    @63 “But then, I really am, deep down, a fiscal conservative.”

    It’s hard to describe me, Roger Rabbit, in any other terms. I have no debts; I don’t work; I live off capital; I pay taxes at capital gains rates; I produce nothing; and I make money by sitting on my ass all day moving money in useless little circles. That makes me a fiscal conservative, alright!

  61. 73

    Mr. Cynical spews:

    GBS–
    “Instead of the great “short” play on gold after the move in the price happened?

    When? When? When?”

    Actually Gold went up after I made my move.
    The Stock went up and the Puts went DOWN.
    I was down over $3000 at one time.
    The sell-off of gold is something I was waiting for.
    I’m only up a little on this trade GBS at this time. I still think Gold has a ways to go.
    Did you see that I posted this on 11/20??
    I had already made the trade.
    My job is not to convince you of anything GBS.
    Obviously you are quite envious & jealous.
    I’ll be back to Seattle in February.
    If Puddy is available for dinner, I’ll buy and show him my Brokerage Account Statement.
    Something tells me that wouldn’t even be good enough for you…so why try.

    At least you are willing to take educated risks. Sounds like you are doing great. Too bad your PINHEADED BRETHREN want the government to care for them…or are waiting for Mommy & Daddy to die.
    You don’t think some of your KLOWNmates come from family money GBS??
    How naive.
    Philly Jews have dough.

  62. 74

    Mr. Cynical spews:

    Rog Spews–

    I pay taxes at capital gains rates;

    you said all your Capital Gains are in your retirement account. When you take the earnings out, it is ordinary income.
    Please correct your post….if you care about being accurate.