June 01, 2011

DOOM! Anemic Job Growth, Stock Market Tanks
— DrewM

Recovery Summer II is looking an awful lot like the original.

The Labor Department will release May jobs data in Washington Friday, but ahead of that, private payroll firm ADP reports fewer than expected new jobs in May.

The company's National Employment Report says nonfarm private employment grew by 38,000 jobs, far short of the average economist forecast of 175,000 new jobs, as surveyed by Bloomberg.

That plus more bad news from Greece and dismal US manufacturing numbers added up to a bad day on Wall Street.

The Dow Jones industrial average (INDU) fell 245 points, or 2%, with all but one of the blue chip index's 30 components lagging.

With economic news like this, I'm guessing Obama is trying to find a way to merge the Sarah Palin vacation tour with Weinergate to keep his name out of the news as long as possible.


Posted by: DrewM at 12:19 PM | Comments (45)
Post contains 159 words, total size 1 kb.

1 Heh!  Obama throws Weiner under the bus...

Posted by: runningrn at June 01, 2011 12:22 PM (ihSHD)

2
Geronimoooooooooo!

Posted by: DJIA at June 01, 2011 12:22 PM (eyh2h)

3 Who needs a recession when you have Recovery Summer!

Posted by: Wild Bill at June 01, 2011 12:22 PM (kt5ZI)

4 That's what she said.

Posted by: Mr Pink at June 01, 2011 12:22 PM (nodau)

5

It's a double dip, but at least it's chocolate.

 

Posted by: Ray Nagin at June 01, 2011 12:23 PM (pfpG8)

6
Yay! You said "Weiner."

Keep it alive, morons.

Posted by: arhooley at June 01, 2011 12:23 PM (+/eKV)

7 Obviously, Andrew Breitbart has hacked ADP.

Posted by: Circa (Insert Year Here) at June 01, 2011 12:24 PM (gDbxE)

8

begosh and begorrah it's a little touch of the DOOM!™ for ya...

Posted by: I miss Monty's DOOM!™ at June 01, 2011 12:26 PM (jdOk/)

9 With the proper printing the Dow could easily hit 1,000,000 even as the financial system and economy are being destroyed.

Posted by: progressoverpeace at June 01, 2011 04:26 PM (G/MYk)

Well, the Mayans were DEFINITELY ON TO SOMETHING.

Progress and I agree.

Apocalypse at 11:00.

Posted by: Circa (Insert Year Here) at June 01, 2011 12:29 PM (gDbxE)

10 If I took a drink for every time the media whores used a variant of the word "expected", I'd have had six liver transplants by now.

Posted by: Grandpa Jack at June 01, 2011 12:30 PM (PMGbu)

11 Pork and Beans!!11!!

Posted by: Grandpa Jack at June 01, 2011 12:30 PM (PMGbu)

12

Just asked the wifey if she'd like to see America via boxcar.  Wifey wasn't amused. 

Posted by: Big Fat Meanie at June 01, 2011 12:32 PM (DPM1U)

13

No one gives two shits about what happens on Wall Street. the jobs and manuf #s are bad in their own right, regardless of impact on Wall St fantasyland.

oh and...thanks again 52%ers, you fucking morons. Hope you're grooving on your HopenChange.

Posted by: glowing blue meat at June 01, 2011 12:33 PM (K/USr)

14 Malaise is looking good right now.

Posted by: nickless at June 01, 2011 12:33 PM (MMC8r)

15 14 Just asked the wifey if she'd like to see America via boxcar. Wifey wasn't amused. Posted by: Big Fat Meanie at June 01, 2011 04:32 PM (DPM1U) Part of the reason the wife and I own an RV is that we can always fall back on living in it if things go south. Now if I can just convince her to let me reload 12 gauge shotgun shells for currency we'll be in fat city after the collapse.

Posted by: joncelli at June 01, 2011 12:34 PM (RD7QR)

16 Oh, and shouldn't there be a picture of a kitteh that looks like it just woke up from a 3-day-long meth bender?

Posted by: joncelli at June 01, 2011 12:35 PM (RD7QR)

17 I'm shocked! Somebody has #Hacked the economy!

Posted by: Barry O at June 01, 2011 12:38 PM (FcR7P)

18

Enjoy living at home with mommy and daddy, current college students.

No full time jobs for you. Sorry.

Hope that historic moment where you got to prove you were better than other generations by voting for the black guy was worth it.

 

Posted by: Warden at June 01, 2011 12:40 PM (pfpG8)

19 This is an Obama Recovery.

Which is a lot like Obama Foreign Policy.

The smartest President ever. 

It suddenly struck me that David Brooks' praise about the crease in Obama's pants is a metaphor for Obama's entire life.

Some one paid the tailor to make the suit.  A competent dry cleaner pressed the suit.   And my guess is that some one besides Obama or Michelle picked out the suit.Yet Obama gets the praise.

That is just like Obama's entire life.

Posted by: Jack at June 01, 2011 12:45 PM (kCT7A)

20

Warden, I wish I were in the position to savor the schadenfreude..unless Ace starts forwarding checks to his commenters soon, I'll be spending the next few years showering in railyards. 

Posted by: Big Fat Meanie at June 01, 2011 12:47 PM (DPM1U)

21 hannity is interviewing ryan now.  After trump totally lambasted him shortly before.

Drew you should listen to both interviews.  Ryan is finally saying what is in his head instead of assuming that people know already.

Posted by: curious at June 01, 2011 12:49 PM (k1rwm)

22 At this point I'm practically rooting for Recession Round II; anything to get the JEF out of office in 2012.
 
Trust me on this; my family is affected by this economy too. I'm NOT wishing pain & suffering on the M&Ms per se, but imagine another 5 years of those dipshits in charge.

Posted by: GnuBreed at June 01, 2011 12:51 PM (ENKCw)

23 Nope we are going to get QE 3.  the market is looking towards it.

Posted by: curious at June 01, 2011 12:52 PM (k1rwm)

24

Big Fat Meanie,

I'm sorry to hear that. Honestly, I think the best thing anyone can do right now is stop paying so much attention to politics and instead use that time to find more and better ways to earn money.

Control what you can in your own life. There's nothing you can do about all this other shit. Not at this point.

 

Posted by: Warden at June 01, 2011 12:52 PM (pfpG8)

25

@18: "Oh, and shouldn't there be a picture of a kitteh that looks like it just woke up from came down off a 3-day-long meth bender?"

Fixed it for ya.

Posted by: Fa Cube Itches at June 01, 2011 12:53 PM (xy9wk)

26 'forwarding checks to his commenter"    Bwwaaaaaaaahhhhhhhhhhhhha

good one. 


Posted by: SantaRosaStan, Old Testament scholar & parable guru at June 01, 2011 12:53 PM (UqKQV)

27 Great Depression 2.0. Anyway, I would go long until about 14 months after Mitt Romney's inaugural in 2013.

Posted by: joeindc44 at June 01, 2011 12:55 PM (QxSug)

28 or is it short? Whatever, nothing good is going to happen until about a year and a half after Obama gets booted to the curb. Of course, maybe the feds can make up all their deficits by fining all of $90K for selling rabbits or whatever other chickenshit rule we're all invariably guilty of violating.

Posted by: joeindc44 at June 01, 2011 12:56 PM (QxSug)

29 Monty really knows when to go AWOL, doesn't he?

Posted by: Chuckit at June 01, 2011 01:01 PM (G5cOg)

30 But... but ... Timmy Geithner said GM and Chrysler are doing super fantastic, Detroit is a boom town again, and pay no attention to those overcrowded dealer lots as a result of channel stuffing.

Oh, and the Volts? Selling like hotcakes - between dealerships

Posted by: kbdabear at June 01, 2011 01:08 PM (vdfwz)

31 20
Enjoy living at home with mommy and daddy, current college students.

No full time jobs for you. Sorry.

Hope that historic moment where you got to prove you were better than other generations by voting for the black guy was worth it.

Posted by: Warden at June 01, 2011 04:40 PM (pfpG


Oh, this is real fuckin' helpful and mature.   Over half of current college students weren't even old enough to vote in 2008.

They're merely going to be the ones buried by what the JEF is doing, and on top of that, get to look forward to a lifetime of haranguing by generations that have known opportunities and a standard of living that they never will.

And I don't know about Gens X, Y, and whatever the current batch of brats are called, but I do know that the Boomers are the ultimate "I got mine, fuck you" generation that's done more damage than any other in the history of the planet.

Posted by: The War Between the Undead States at June 01, 2011 01:10 PM (FYCiJ)

32 Barack Hussien Obammmmmmmmmmmmmma.......... Four more years......Four more years...........Four more years..........Four more years of this crap ??????????

Posted by: Joe Biden's Little Head at June 01, 2011 01:16 PM (48wze)

33

Oh, this is real fuckin' helpful and mature. 

You expect me to be helpful and mature about it? How strange.

Posted by: Warden at June 01, 2011 01:17 PM (pfpG8)

34 Oh, this is real fuckin' helpful and mature.   Over half of current college students weren't even old enough to vote in 2008.


And your point...?  If the dead can vote, why can't the (young) living?

Posted by: Lone Marauder at June 01, 2011 01:18 PM (/bVuS)

35

You expect me to be helpful and mature about it? How strange.


Not really.

I got mine, fuck you, after all.

Posted by: The War Between the Undead States at June 01, 2011 01:20 PM (FYCiJ)

36 1979 all over again? We can only hope. I suppose it's time to dust off those old Howard Ruff doomsday economic books.

Posted by: Curmudgeon at June 01, 2011 01:23 PM (ujg0T)

37

Not really.

I got mine, fuck you, after all.

Not at all.

18-29 yr olds support Obama's fake deficit reduction plan to Paul Ryan's actual plan 53%-30%.

They fucked themselves by voting for him and they continue to fuck themselves.

Not my fault. I voted for the other guy. And I'm willing to support anyone who proposes serious deficit reduction, even if I get MY favorite programs cut.

Oh, wait. I ain't gettin' no government monies. A mortage interest deduction, I guess. They can have it back.

 

 

 

Posted by: Warden at June 01, 2011 01:25 PM (pfpG8)

38

#33: it's nothing personal. It's just that so many young dupes were and incredibly still are Obamunist dupes.

I will never forget when the Obamunist told a group of them they could stay on their parent's insurance until they were 26, and they *cheered*.

Now in the grand scheme of things that isn't much, because 23-25 year olds don't take much from health insurance.

But it is the principle of the thing. When I was their age, I was *ashamed* to have to move home after college in the recession of 1990-1995.

Posted by: Curmudgeon at June 01, 2011 01:36 PM (ujg0T)

39 Yeah, because all 18-29 year-olds everywhere voted for Viva La Bam.

The millions in that demo that voted for McCain will be hurt the worst, because they're the ones who work rather than try to game the system.  In the future you're cheering on, most of them will be lucky if they ever get the chance to find out what a mortgage interest deduction IS.

But hey, it don't matter.  The suffering of blameless hard-working people is all academic when I Got Mine, Fuck You.

Posted by: The War Between the Undead States at June 01, 2011 01:38 PM (FYCiJ)

40

Don't worry boys.  There's a sure-fire cure for all of Preznit Pantloads plans - same one as has been used every time the shizzle hits the fizzle:  World War III coming right up.  Turns out those kids will have something to do after all. 

Hopefully it will include a massive purge of the commies in our midst.  That said, it might include a massive purge of...us.  So we got that going for us.  Either way.  It's solved. 

Posted by: Abiss at June 01, 2011 01:38 PM (vhJZ7)

41

 it's nothing personal. It's just that so many young dupes were and incredibly still are Obamunist dupes.

Yup.

Don't take it personally. I just take some small satisfaction in the fact that Obama's biggest supporters--blacks and 18-29 yr olds are taking it in the shorts the worst.

Not you. But them.

This is not only cosmically just, its also good for future voting trends. The JEF may have just created millions of life-long conservatives.

If they manage to pull their heads out of their asses and pinpoint the cause of their misery, that is.

 

 

Posted by: Warden at June 01, 2011 01:40 PM (pfpG8)

42

Don't worry boys.  There's a sure-fire cure for all of Preznit Pantloads plans - same one as has been used every time the shizzle hits the fizzle:  World War III coming right up.  Turns out those kids will have something to do after all. 

With a Neville Chamberlain like dupe president at best and a Manchurian Candidate president at worst, that's not comforting.

Hopefully it will include a massive purge of the commies in our midst

Not with the Obamunist it won't

Posted by: Curmudgeon at June 01, 2011 01:41 PM (ujg0T)

43

Anyway, I would go long until about 14 months after Mitt Romney's inaugural in 2013.

That's not encouraging. To continue the stagflation parallel, I can just *see* Mitt wearing a WIN button.

Posted by: Curmudgeon at June 01, 2011 01:54 PM (ujg0T)

44 I wonder if Weiner ever said anything in public, with video still available, about the Chris Lee thing in NY-26.

The Weenie is an absolute slimeball, but hey, he's their kind of slimeball, and they're sticking to their puff-pieces that paint him to be a wonderful, bright, savvy guy.  One who just got duped by some tech stuff.  Hey, shit happens.

Posted by: I'm in a New York state of mind at June 01, 2011 03:55 PM (4sQwu)

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