unemploystream

(ment-main)

It is almost like one must sympathise with Mr Obama in his fight for his second term. But while his fight in the end might help to not see one of those reactionary Republicans named Romney or even worse Santorum, latest rumours even threat us with Palin's comeback, to move into White House it is still pure bullshit Obama is giving us; most likely not only in reference to the unemployment situation in the US. Fair enough, it is election time and mainstream just follows the flag:

theguardian: Obama boosted by US job growth

In a boost to president Barack Obama's pledge to keep cutting unemployment a priority, the US enjoyed the longest stretch of solid jobs growth in almost a year. Government data showed 227,000 non-farm jobs were added last month, ahead of the 210,000 rise forecast by economists.

... but in the same article ...

The unemployment rate, however, remained at 8.3% as expected as more people came back into the labour market after not previously seeking work.

Pure nonsense, nothing changed to the good. Karl Denninger, a US blogger, calls it the Bureau of Lies and Scams when referring to the US Bureau of Labour Statistics and says:

We have not added a single job, adjusted for population, since 2006 -- and even then going all the way back to 2000 the "gains" were tiny and fleeting.  Until and unless we stop sending jobs overseas there will be no durable economic improvement.

Indeed, the jobs [labour] and the greenbacks [money] are both meeting up somewhere overseas.

Could it be China!


Carpe diem!