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Lack of agency

A classic from Bernanke:

“a significant amount of time will be required to restore the 8-1/2 million jobs that were lost during the past two years.”

It's a two-fer!

Bernanke doesn't say who's imposing the requirement!

And "jobs were lost"? What, like car keys? Like "mistakes were made"?

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michaelwb's picture
Submitted by michaelwb on

I look forward to Obama's 2012 press club dinner where he looks for the "lost jobs" underneath his chair as the chattering classes laugh.

chicago dyke's picture
Submitted by chicago dyke on

i should bookmark this comment; i suspect you'll be proven fucking right in this prediction soon enough.

pmj6's picture
Submitted by pmj6 on

...Obama will order Predator drones sent out to locate the lost jobs. Whereupon they will be engaged with Hellfire missiles.

Submitted by Anne on

allowed to look back at and acknowledge those 8.5 million jobs, seeing as how this is the "Look Forward" Era...

I've been in the worst mood these last couple days...my husband's UI ran out a couple weeks ago, and we've been waiting for the extension, which I now find out ( I guess I should have known sooner, but I didn't) that he won't be eligible because MD's unemployment rate - at least the preliminary rate for June - is "only" 7.1%. I don't understand what this has to do with anything, other than Dems once again giving into the Deficit and Debt Hysterics so as to minimize a hit they know perfectly well the government not only should be willing to take, but which it can take.

And this, from Bernanke, just made my teeth clench so hard I thought I might break some of them:

A series of economic data in recent weeks have pointed to slowing economic growth, fanning fears of a return to recession and prompting speculation that the central bank may be gearing up to buy more securities or initiate other moves in an effort to spur lending by pushing already low long-term interest rates even lower.

"Are you out of bullets?" asked Sen. Jim Bunning (R-Ky.), a member of the Senate Banking Committee and longtime critic of the Fed.

"Well, I don't think so," Bernanke replied, but added that "we're not prepared to take any specific steps in the near term, particularly since we're still also evaluating the recovery and the strength of the recovery."

Link: http://www.baltimoresun.com/business/la-...

[sorry the link is not formatted properly, but I can no longer get the formatting buttons to work]

Those who know more about economics can weigh in, but I don't understand why the prevailing attitude seems to be a shrug of the shoulders and a less-than-energized "well, what would you have us do?"

So, no sense looking back at something that isn't there anymore - the jobs - and looking at all the unemployed and having to deal with their grubby demands for help is just so, so unpleasant...better to just close their eyes and ponder ways to make the needy disappear altogether.

I am developing something very close to hatred for these people.

Submitted by lambert on

There's been no change on this end, so I suggest you clear your cache and cookies and restart the browser. If that fails, mail me with the symptoms (including the browser you use and your operating system).

Submitted by Anne on

The bill does not include an extension of the $25-a-week Federal Additional Compensation funds, tacked onto many unemployment checks. It also does not include any of the other provisions originally included in or proposed for the jobs bill or extenders package: It does not close tax loopholes, or provide Medicaid funding to states, or include funds to keep teachers and other state employees working. It also does not create an additional fifth tier of benefits; federal extensions only continue in states with higher than an 8 percent unemployment rate, and the maximum weeks of state and federal benefits remains ninety-nine.

Link: http://washingtonindependent.com/92066/s...

But, just now, I found this:

Unemployment Insurance

Extension of Emergency Unemployment Compensation (EUC) program – The Emergency Unemployment Compensation (EUC) program phased-out at the end of May 2010. This program provides (depending on a State’s unemployment rate) up to fifty-three (53) weeks of extended benefits. The bill would extend the EUC program through November 2010 and is retroactive.

Extension of Extended Benefits (EB) program – 100% Federal funding for the Extended Benefits (EB) program phased-out at the end of May 2010. This program provides up to an additional 13 to 20 weeks of benefits in certain States (i.e., 13 weeks for States at or above 6.5% unemployment and another 7 weeks for States at or above 8% unemployment). The bill would extend full funding for the EB program through November 2010.

Eliminating the penalty for part-time employment in the Emergency Unemployment Compensation (EUC) program – The legislation coordinates EUC Benefits with regular Benefits by providing States with a number of options to allow EUC claimants to remain eligible for the EUC program when they become newly entitled to State unemployment compensation if switching to State benefits would reduce their weekly UI check by at least $100 or 25 percent.

Link: http://senatus.wordpress.com/2010/07/21/...

So, maybe there will be something - I don't know the difference between Emergency Unemployment and Extended Benefits, so I should look into that.

What pisses me off is that all we heard was the good news - so a lot of people who think help is on the way are going to have to think again.