On stimulus jobs reporting, a big 'Oops'

reply to post by Walkswithfish


How can the CBS is claiming that jobs were created when this report for September said otherwise.

U.S. Loses 263,000 Jobs in September

I think CBS has been payed to said that.

The U.S. Bureau of Labor Statistics (BLS) reported Friday that the United States lost 263,000 jobs in September. From December 2007 to September 2009, seasonally-adjusted U.S. nonfarm employment has fallen by 7.205 million jobs. The U.S. non-farm employment figure of 130.947 million is at its lowest point since March 2004 and even is lower than it was in March 2000 – a shocking statistic considering that the U.S. Census Bureau estimates the U.S. population to have grown by 26 million during that time.

Seasonally-adjusted U.S. private sector employment is faring even worse. In September 2009, United States had fewer private sector jobs than it did in October 2003 and even June 1999. Since December 2007, the United States has lost 7.239 million private sector jobs.

U.S. manufacturing employment fell by 51,000 jobs in June, dropping to 11.719 million. The United States has lost 921,000 thousand manufacturing jobs since January 2009. U.S. manufacturing employment now is at its lowest level since April 1941. In the last decade, from September 1999 to September 2009, U.S. manufacturing employment has fallen by 32.2 percent, a loss of more than 5.56 million good middle-class jobs.

www.economyincrisis.org...

It amazes me how people fall for the fearmongering. Give my buddies on wall street x dollars or unemployment will reach 1110000% Pay NOW! Invade country x or they will nuke our cites and kill many American children, what kind of monster would want the children to die? Invade NOW!

reply to post by 4ortunate1


It's financial terrorism and these crooks should all be in jail for holding America hostage. The same should happen for those who falsely lead us into war.

[edit on 17-10-2009 by projectvxn]

reply to post by marg6043


Marg, these were companies or contractors who got stimulus money... Every other company or contractor was left to sink or swim on their own, and many have had to lay off workers, or close their businesses.

If you happen to run a business that got millions in federal stimulus money you have to either show that you saved or created jobs with that money.

The CBS report is doing math on the numbers of jobs that were reported as "created or saved" by companies or contractors that have received BILLIONS in stimulus money.

Based on those numbers reported so far that comes to $533,000 per job, created or saved.


[edit on 17-10-2009 by Walkswithfish]

reply to post by Walkswithfish


I see it as deception, the jobs most be from companies that works for power houses like JP Morgan and Goldman Sach because they are the only ones that can be making that amount of money.

Or like you said the greedy companies and contractors may be pocketing the money while keeping the same workers.



Also, those jobs are temporary as the stimulus was a one time thing.

Anyway, this is nothing short of criminal, heads should roll.

The American people should be rightly pissed off.

But at the end of the day, most people don't care.

Our children and theirs and theirs and..... will be the ones paying for all of this ultimately.

It's all good, the gvt. can print all they money they want, give it to whoever they want, most Americans seem to be totally fine with this... So they really shouldn't bitch when they lose their jobs and can't find a new job.

If you work for one of these now wealthy contractors that received stimulus money, congratulations!

The taxpayers have saved your job, and given your bosses loads of cash!

Enjoy while it lasts!

Good post!
I just met someone who works down on Wall Street today. I asked him what the atmosphere was like. He told me "quiet", "dead" and "gloomy".
Anyway, what I want to know is why? What is the point of the government allowing big banks and corporations to do what they are doing?
Even if the people in charge are making money, our money will continue to devalue as the the cycle continues.
Anyway, thoughts?

reply to post by really

I just met someone who works down on Wall Street today. I asked him what the atmosphere was like. He told me "quiet", "dead" and "gloomy". Anyway, what I want to know is why?

No one trusts Obama and the Democrats Pelose and Reid. Here is what Charles Krauthammer (M.D., lawyer, conservative columnist) thinks about the Obama agenda concerning the American economy:

His three main goals are to control ENERGY, PUBLIC EDUCATION, and NATIONAL HEALTHCARE by the Federal government. He doesn't care about the auto or financial services industries, but got them as an early bonus. The cap and trade will add costs to everything and stifle growth. Paying for FREE college education is his goal. Most scary is his healthcare program, because if you make it FREE and add 46,000,000 people to a Medicare-type single-payer system, the costs will go through the roof. The only way to control costs is with massive RATIONING of services, like in Canada. God forbid!

Change! You can count on!

As, I have said before, 2008 was an economic correction, and a scary one at that! However, corrections must take their course so that the markets can correct themselves naturally and improve as a result. All the government did by injecting capital into the markets and struggling financial institutions was put a band aid on the problem, and only briefly stemmed the bleeding. They didn't remove the cancer before propping up the markets and the greater economy. By now we see how far it is spreading with the recent job reports.

During the melee, the corruption and fraud in the financial sector was given the backseat and went unpunished, as Uncle Sam tried to batten down the hatches. The seedy disposition by those holding the reigns of the economy in both the banking and financial systems are still there. As they feather their nests and satisfy their greed, the United States will go the road of a third world nation over time.

The problem of 2008 persists and is now festering. Sooner or later, the abscess is going to burst, spreading its puss even further through the economy. If you ask me, Goldman Sachs has monopolized the economy with government bailout money. Just their third quarter profits are of concern to me, given the overall atmosphere on Wall Street with other corporations struggling and treading water. The profits are staggering!

Goldman Sachs, one of the most profitable Wall Street firms, raked in profits of $3.19 billion, about four-fold higher compared to the year-ago period.

In the comparable quarter, it was at $845 million.

During the third quarter, the entity's net revenues from investment banking was $899 million while that from Trading and Principal Investments touched $10.03 billion, Goldman Sachs said in a statement.

www.business-standard.com...

Now, don't get me started with former Treasury Secretary Hank Paulson! He was a disciple of Goldman Sachs and he was instrumental in Goldman Sach's unfair ascension in this recession. If he was a man of integrity, he would have identified his personal relationship with Goldman Sachs and their role as a player during the bailout and TARP, and would have stepped aside on grounds of it being a conflict of interest. However, he chose to be directly involved and with his elevated position in the Treasury, he gave his crook buddies at Goldman Sachs a lifeboat as Lehman Brothers took the fall for their mistakes.

When in all reality, Goldman Sachs and other financial institutions should have failed along with Lehman Brothers, because all their hands are dirty. I wonder how much Paulson has made off Goldman Sach's meteoric rise to economic superiority? So many questions that need answers, yet the American public remain in a daze as well as the congress? It is only going to get worse, and once again, the little guy is going to get socked in the mouth. I'll end with a speech by controversial Louisiana Governor and US Senator Huey P Long, "The Kingfish." Listen to what he said about the US economic system, and his speech was from the 30's, and notice the parallels to our present day.







[edit on 18-10-2009 by Jakes51]

Originally posted by ProtoplasmicTraveler


Pretty disturbing news regarding the Stimulus Reports when one considers that the Congress swore there would be ample safeguards and oversights in how the money was spent.

The initial reports being published by the Government on a revamped 17 million dollar website are being compiled not by the Government but by the recipients of the money and are coming back laden with errors.

Ultimately the government is trying to ascertain how many jobs the stimulus has created. Evidently by all early indications not too many have been and a shockingly low number of jobs have been created by some of the biggest recipients of funds. One company that received over 348 million dollars in funds actually only created 58 jobs with it! That’s roughly 1 job per each 6 million dollars invested!

It truly is amazing what our government has done to us this time!


money.cnn.com
(visit the link for the full news article)

Did anyone really expect anything else?/ I certainly didn't. The government only knows how to do one thing, that's waste money. They can't run anything efficiently. A moron knows you don't buy REAL jobs with government money. If the money temporarly creates a position, it's only as long as the government keeps throwing stimulus money at it.

Jobs are created by a growing economy. We don't have a growing economy now, nor will we for quite a while. Do your on math on this one. At the absolute worst time possible, the government wastes trillions of dollars throwing money at problems, rather than doing what everyone knows needs to be done. That's our government for ya. Sounds like we need a wholesale change of representatives. Folks, this isn't a Dem or a Rep problem, it's an entire system problem. No one on either side is representating us. You know what to do come election time. Do it, and we may be able to get some real relief.

When are the american people actually going to DO SOMETHING to stop that insanity ?

reply to post by ProtoplasmicTraveler


Obama has saved 57 trillion jobs!!!

Oh, wait.

that's our deficit.

Never mind.


This is a farce. The only jobs Obama has created are for his propoganda machine and the czars. It's all a payback for unions.

Obama isn't a community organizer anymore.

He's a union organizer. And we all know how sweet and innocent they are.

What a joke, the USA got ripped off big time. And guess who is going to pay for it in the end? The little guy, like me, just scraping by. Same people who always pay in the end.

All this bailout accomplished is to allow a select few to sit in their gold trimmed jets and sip their Dom Perignon some more.

When you carelessly throw huge chunks of meat into the water, the big sharks are going to come and gobble it up, and leave nothing if anything for the guppies.

This nonsense started under Bush and is rolling full steam ahead under Obama.

Change my butt. We've been robbed, conned, ponzi schemed, bent over so far it's a miracle we can still walk upright.

reply to post by elcapitano75


Yep, we are seeing the shots fired over the bow against the little guy. But these big wigs fail to understand that their fates are intrinsically aligned with the little person. If it wasn't for the toil of the little man they wouldn't be sitting at that oak desk, in a huge office, sipping Cognac, and chomping on that high-price Cuban cigar. They forget who made them masters of industry. Just a bunch of scumbag crooks only out to butter their bread, and to hell everyone else. These elites need to step down from their high horse, because as sure as day, the legs can be taken out from under them as well.

Originally posted by ProtoplasmicTraveler

Originally posted by projectvxn
This is why the government shouldn't be allowed to foray into economics the way they did in 08-09. Another nail in the coffin of repeated failed policies across 4 administrations...When will enough be enough?

I really think the Government is trying to bankrupt the nation and force it to fall from within at this point.

All of our wealth has been sucked out through the Military Industrial Complex the Banks and Corporations as well as money we have yet to even earn yet.

It is almost like they are trying to purposefully enslave us with a debt we can never pay back.

I almost believe this, but ultimately do not. Politicians get elected based on the state of the economy more than any one single factor.

Secondly, and this is the kicker, the alternative was to raise interest rates to beef up the dollar. No one wanted to do this because it would have killed the velocity of money.

Originally posted by projectvxn
reply to post by 4ortunate1

 

It's financial terrorism and these crooks should all be in jail for holding America hostage. The same should happen for those who falsely lead us into war.

[edit on 17-10-2009 by projectvxn]

You said it right there my friend. What they have done to us is financial terrorism or all out blackmail...."give us your money or we'll make your jobs disappear." Seems the only jobs that were preserved are those of the bankers. The ones who could afford it the least are loosing jobs. The bankers due to their lavish earnings, bonuses & benefits over the years have most likely accumulated quite a nest egg, if they were faced with a layoff they could easily slip into retirement and live well.

It's the same old thing we've got to keep propping up the elite class because that's who makes our jobs, the old trickle down economics. Well that's just BS the only thing they let trickle down is piss.

Does anyone really think that this stimulus package was intended to make or save jobs? Come on. If anyone was paying attention to what was coming out of the White House, this package was a massive welfare bill. How does financing contraceptive help stimulate anything except for 'you know'? Everyone knows its a welfare handout to people who don't work, or to people who Obama owed campaign money. Its was and still is a massive generational stealing bill, which was created to pay off our president's debt. It was a joke.

[edit on 18-10-2009 by Pathos]

The only safe place for this money would have been the American public in the form of massive tax deductions. This would have allowed the consumer to purchase the things they need while stimulating the economy and businesses that are needed.

Instead we gave the wealthy even more money to hide away in banks, property etc...

The companies that were going to fail should have been allowed to die.

Let's see -- the government has messed up the Stimulus Act, underestimated the costs associated with the "clunkers program", missed a loophole that enabled AIG to pay out billions, forced a Merrill Lynch/BoA merger that is now bankrupting BoA.....

......but, by all means, let's add "Healthcare Reform" to their list.........

C'mon people -- this is a disgrace. If anyone of us made any one of these mistakes -- we would be fired immediately.

They have an entire team of people that 'We The People" pay for JUST to monitor and report on where the money goes -- OUR MONEY.

You do realize that we're not even asking whether or not the money went anywhere beneficial -- we're just asking where it went? And they can't even tell us that.....

Disgusting.

Jobs? What jobs? Where and how? I am out on the west coast, and I can not get hired to wash dishes or scrub toliets, and I have the experience for such.
My understanding of what happened to the stimulus money is that it went to different companies and banks. The banks instead of spreding the wealth as they were suppose to sat on that money, making it harder for the american people to have access to it. Loans are harder to get if not down right impossible and the costs keep going up. The people who were suppose to recieve aid, due to mounting debts, are not recieving it and a good chance that there is none in sight. The first signs of trouble out here was the number of pets being put up for adoption, as different families had to get rid of them to either save money or were moving and could not take such with them to say an apartment. So the first 3 stimulus's were a bust and now the government is going to put out another one. I wonder if they realize what went wrong or is it just something to quell the fears and concerns of its citizens. I talk to family in different states and from what I am hearing this is not good. Stores have either closed or are in the process of closing, malls are empty and pretty much alot of people are out of work. No one is helping the little guy out, and it is the little guy who will be working hard to get this country back on its feet. For the first time in my life, I, like the rest of my family, are getting involved in politics and will be talking to potential contenders and canidates to see what they can do for us and the rest of the country to get us out of this mess. I have questions, asked, yet no response. Something tells me that before the year is out, someone in DC is going to pull a fast one. According to some of the analysist, the stimulus money is suppose to hit right before alot of the midterm elections so that way the incumbents can say see look what I did for your community now vote for me.