Saturday, July 9, 2011


Slight variation, same theme.

U.S. employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months, dousing hopes the economy would regain momentum in the second half of the year.

Nonfarm payrolls rose only 18,000, the weakest reading since September, the Labor Department said on Friday, well below economists' expectations for a 90,000 rise.

The unemployment rate climbed to a six-month high of 9.2 percent, even as jobseekers left the labor force in droves, from 9.1 percent in May.
(italics, naturally ours)

We're going to say it again: we need new economists. They've been getting it wrong nearly every single damn month for the past two years or so.

And we're going to ask it again: precisely what is it about the nature of the policies that have been implemeted and/or pursued that would lead these economists to think in such a rosy manner that any and all continuing bad economic news is unexpected?

If the mentality for all this was one of not wanting to bet against America then God bless 'em as that is the righteous and patriotic thing to do but this also points to just how disastrous the Obama administration's policies are that they would burden into stagnation even the incredibly resilient, innovative, entrepreneurial and productive American economy.

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