0 Jobs

The August jobs report is out and it was even worse than last month. The Labor Department said the US economy did not add ANY jobs last month (and the previous two months were revised lower by 58,000), the unemployment rate remained at 9.1 percent and 14 million Americans are still out of work (23 million if you include part-timers who want to be full-time).

That this report comes just before Labor Day weekend is a cruel coincidence. That the report comes days before President Obama delivers a “major” speech about jobs underscores a basic fact: Obama blew it on jobs.


. Jobs Created: NONE (Revisions: -58K, July revised to + 85 from +117,000, June revised to +20K from +46,000)

. Unemployment Rate: 9.1 percent (unchanged from July)

. Under-Employment Rate (marginally-attached, part-time): 16.2 percent (from 16.1 percent in July)

. Total Number of Unemployed: 14 million (from 13.9 million)...

Jill Schlesinger

Wheeee..

~Jell-Obama~

White House officials offered no details about the Rose Garden barbecue and birthday party thrown for President Obama last night. No menu, no guest list, the event did not appear on his official schedule.

Ann Compton reports that the Obama family paid for the celebration out of its own pocket.

Their silence might be so as to not create the impression that the president was celebrating just hours after the Dow Jones fell 500 points. Politicians hate to be portrayed as fiddling while Rome burns, Nero-style.

Food stamp use rises to record 45.8 million

Time to Say It: Double Dip Recession May Be Happening

Faber: Brace for a Global 'Reboot' and a War

A cry for help because he can't find a job

Two-year Treasury yield drops to a record low

Bingo!

A visualization of United States debt:

Ten Thousand Dollars
$10,000 - Enough for a great vacation or to buy a used car.
Approximately one year of work for the average human on earth.


One Million Dollars
$1,000,000 - Not as big of a pile as you thought, huh?
Still this is 92 years of work for the average human on earth.


One Billion Dollars
$1,000,000,000 - You will need some help when robbing the bank.
Now we are getting serious!


15 Trillion Dollars
$15,000,000,000,000- Unless the U.S. government fixes the budget, US national debt (credit card bill) will topple 15 trillion by Christmas 2011.

Statue of Liberty seems rather worried as United States national debt passes 20% of the entire world's combined GDP (Gross Domestic Product).
In 2011 the National Debt will exceed 100% of GDP, and venture into the 100%+ debt-to-GDP ratio that the European PIIGS have (bankrupting nations).

Srsly, Why Would He Care About The Quake In Japan or Anything In The World?

Japan is suffering from a natural disaster that threatens to turn into an existential crisis. Colonel Q-ball has unleashed a blistering assault on pro-democracy rebel forces. Large swaths of the Middle East are in turmoil. The federal government is bleeding red ink, with absolutely no end in site. The economy sucks and is getting battered by skyrocketing commodity prices and a volatile oil market. Near-record numbers of Americans are leaving the work force. If the world isn’t quite on fire…it is at least approaching a slow burn.
But, what’s all that against a little MARCH MADNESS!
Barack Obama will take some time to fill out his bracket for the upcoming NCAA College Basketball tournament.