[MetalForever]

thttp://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2009/11/07/MN5M1AGEVF.DTL

The Unemployment rate for October hit the highest it's been since 1983, at 10.2 percent. If unemployment surpasses 10.8% (the rate of Unemployment as of December 1982), we will reach 1940 levels of employment. As it is, we've reached the longest consecutive job loss record in 70 years.

The highest unemployment ever in US history was 23%, in 1932, just prior to the election of FDR. By 1936, unemployment had been cut almost in half with the government spending of the New Deal--but when Roosevelt abruptly stopped spending in 1937 in order to balance the budget. unemployment shot up again to 19.7% in 1938, which fell to 17% in 1939, a rate which remained about steady until 1941.

Counting on a broader scale (including part time workers, marginally attached workers, workers who have had their hours cut, 'discouraged' unemployed, those who have not sought employment in 4 months and those who have given up), unmployment then stands at 17.5%.

Politically this means one thing--
If Obama can't fix unemployment and the overall economy by 2012, he'll lose. But if he can fix unemployment, by then, he'll win again in a landslide.
FDR brought unemployment by 1936 to half of what it was before he was president, which while still very high was a victory; In turn, Roosevelt was re-elected in the biggest landslide in history--Winning all about 1 state
Reagan also suffered through high unemployment--peaking at 10.% in December of 1982 (his second year in office).. However, by the election of 1984, unemployment was at a stable level and he won in a huge landslide against Mondale in 1984=again winning all about one state.

This post has been edited by MetalForever: 07 November 2009 - 12:24 PM

[AbominableHoman]

Get your facts straight. MetalForever. Obama said unemployment would not top 8% if we passed the stimulus bill.

Another president using a national crisis to push their own agenda.

[LightningBolt]

AbominableHoman, on 07 November 2009 - 12:10 PM, said:

Get your facts straight. MetalForever. Obama said unemployment would not top 8% if we passed the stimulus bill.

For real. Obama's been telling me things are getting better.

[AbominableHoman]

I have a job. When can I start hiring these "discouraged" unemployed as lowly servants? Too bad Obama keeps extending unemployment benefits. I need these people desperate.

This post has been edited by AbominableHoman: 07 November 2009 - 12:26 PM

[MetalForever]

AbominableHoman, on 07 November 2009 - 12:25 PM, said:

I have a job. When can I start hiring these "discouraged" unemployed as lowly servants? Too bad Obama keeps extending unemployment benefits. I need these people desperate.

I wonder what would happen if Obama announced and effected a complete, immediate cut in all unemployment benefits--would it inspire riots, or people to go out and find jobs? Or both?

[AbominableHoman]

MetalForever, on 07 November 2009 - 09:29 AM, said:

AbominableHoman, on 07 November 2009 - 12:25 PM, said:

I have a job. When can I start hiring these "discouraged" unemployed as lowly servants? Too bad Obama keeps extending unemployment benefits. I need these people desperate.

I wonder what would happen if Obama announced and effected a complete, immediate cut in all unemployment benefits--would it inspire riots, or people to go out and find jobs? Or both?

Neither. They'd be politically exploited before they expended all of their resources, and stopped being lazy.

This post has been edited by AbominableHoman: 07 November 2009 - 12:37 PM

[Bucketslash]

AbominableHoman, on 07 November 2009 - 12:37 PM, said:

MetalForever, on 07 November 2009 - 09:29 AM, said:

AbominableHoman, on 07 November 2009 - 12:25 PM, said:

I have a job. When can I start hiring these "discouraged" unemployed as lowly servants? Too bad Obama keeps extending unemployment benefits. I need these people desperate.

I wonder what would happen if Obama announced and effected a complete, immediate cut in all unemployment benefits--would it inspire riots, or people to go out and find jobs? Or both?

Neither. They'd be politically exploited before they expended all of their resources, and stopped being lazy.

http://www.youtube.c...RYmudWEUSo&NR=1

[AbominableHoman]

Bucketslash, on 07 November 2009 - 12:50 PM, said:

AbominableHoman, on 07 November 2009 - 12:37 PM, said:

MetalForever, on 07 November 2009 - 09:29 AM, said:

AbominableHoman, on 07 November 2009 - 12:25 PM, said:

I have a job. When can I start hiring these "discouraged" unemployed as lowly servants? Too bad Obama keeps extending unemployment benefits. I need these people desperate.

I wonder what would happen if Obama announced and effected a complete, immediate cut in all unemployment benefits--would it inspire riots, or people to go out and find jobs? Or both?

Neither. They'd be politically exploited before they expended all of their resources, and stopped being lazy.

http://www.youtube.c...RYmudWEUSo&NR=1

Care to elaborate, monkey?

[pet0]

AbominableHoman, on 07 November 2009 - 07:25 PM, said:

I have a job. When can I start hiring these "discouraged" unemployed as lowly servants? Too bad Obama keeps extending unemployment benefits. I need these people desperate.

You need them desperate enough to rob you?

[madison]

MetalForever, on 07 November 2009 - 12:29 PM, said:

I wonder what would happen if Obama announced and effected a complete, immediate cut in all unemployment benefits--would it inspire riots, or people to go out and find jobs? Or both?

There are no jobs. It's not that people are "lazy." It's that companies aren't hiring anyone.

Corporate America continues to slash jobs, and isn't hiring.
Although their quarterly earnings are starting to improve, I have yet to see major companies announce hiring plans. The economy is too fragile.

As for the unemployment rate - Obama never said it wouldn't top 8%. That's ridiculous to suggest he did.
Economists have been predicting for over a year that the rate will exceed 10.5% before it peaks, and this is expected to happen in the middle of 2010. And the rate is actually a lot worse than 10.2% right now since those figures don't include people whose UE benefits have expired or who have given up looking for work.

It's really brutal out there, and Obama is making the right decision to extend benefits. If he didn't, I would guess crime and violence would increase since people would become desperate for money.

[quadlaser]

madison, on 08 November 2009 - 02:53 PM, said:

MetalForever, on 07 November 2009 - 12:29 PM, said:

I wonder what would happen if Obama announced and effected a complete, immediate cut in all unemployment benefits--would it inspire riots, or people to go out and find jobs? Or both?

There are no jobs. It's not that people are "lazy." It's that companies aren't hiring anyone.

Corporate America continues to slash jobs, and isn't hiring.
Although their quarterly earnings are starting to improve, I have yet to see major companies announce hiring plans. The economy is too fragile.

As for the unemployment rate - Obama never said it wouldn't top 8%. That's ridiculous to suggest he did.
Economists have been predicting for over a year that the rate will exceed 10.5% before it peaks, and this is expected to happen in the middle of 2010. And the rate is actually a lot worse than 10.2% right now since those figures don't include people whose UE benefits have expired or who have given up looking for work.

It's really brutal out there, and Obama is making the right decision to extend benefits. If he didn't, I would guess crime and violence would increase since people would become desperate for money.

Another reason that Corporate America isn't hiring is that there is that AIG still isn't lending to small business owners or their prospective clients, even those with good credit. It's just unreal.