Category Archives: employment

November 6th 2012 Another Juneteenth ??

Is November 6, is a another Juneteenth? My dad wondered because he along me and my brother was very disappointed in President Barack Obama. The President has the US economy gone down hill.

Advertisements

Why are Congressional Black Caucus Wrong

Recently,  Two members of the Congressional Black Congress spoke out Rep. Maxine Waters(D-CA) Went on a Rant against President Obama  at a job fair in Detroit. From The Washington Examiner:

Rep. Maxine Waters said, members of the CBC are becoming increasingly tired and frustrated by Obama’s performance on the issue of jobs. Even as she expressed support for the president, Waters virtually invited the crowd to “unleash us” to pressure Obama for action.

“We don’t put pressure on the president,” Waters told the audience at Wayne County Community College.  “Let me tell you why. We don’t put pressure on the president because ya’ll love the president. You love the president. You’re very proud to have a black man — first time in the history of the United States of America. If we go after the president too hard, you’re going after us.”

With African-American Unemployment over 16%  Water express her frustration about the president:

  “The Congressional Black Caucus loves the president too,” Waters said.  “We’re supportive of the president, but we’re getting tired, y’all.  We’re getting tired. And so, what we want to do is, we want to give the president every opportunity to show what he can do and what he’s prepared to lead on. We want to give him every opportunity, but our people are hurting. The unemployment is unconscionable. We don’t know what the strategy is. We don’t know why on this trip that he’s in the United States now, he’s not in any black community.  We don’t know that.”

A few Days later in Inglewood,CA  in her congressional district Waters went after the Tea Party. From the Daily Caller:

“I’m not afraid of anybody,” the California congresswoman told constituents in footage that appeared on ABC affiliate KABC in Los Angeles, not backing down from comments made about President Obama earlier in the week. “This is a tough game. You can’t be intimidated. You can’t be frightened. And as far as I’m concerned — the tea party can go straight to hell.”

A Day later Rep. Frederica Wilson(D-FL) went off at the Tea Party. Wilson  blames racism for the high unemployment. From Real Clear Politics:

“When you look at African American males, 40% of them are unemployed, those under 30 years of age. I understand exactly the entire nation must be involved in this recovery but the black community is experiencing a great recession. That’s what we’re experiencing,” Rep. Frederica Wilson (D-FL) told MSNBC.

“And all of the growth in the past 30 years, we see it slipping away. From home ownership, the middle class; it’s slipping away from our hands. And it has a lot to do with many issues. Racism, shipping jobs overseas, access — no access to technology. You know, the digital divide is there and many of the new jobs that’s what it requires. So, we have a problem.”

As a black man, It’s real easy to blame White Folks.  For the last  30 years our community blamed  racism starting with former President Ronald Reagan complaining about “Welfare Queens.” Some complain about government surplus cheese  and food  that was given out. I understand.

For Years, Black politicians get millions of dollars  to  improve the lives of its constitutes but it lead some on on welfare for generation. They get fund for job training programs but more often than  the program is either  limited in scope or size.

We as a people put race ahead of common sense. Today the Congressional Black Caucus  said that They would march on the White House  if the President was White. From The Hill:

Unhappy members of the Congressional Black Caucus “probably would be marching on the White House” if Obama were not president, according to CBC Chairman Rep. Emanuel Cleaver (D-Mo.).

“If [former President] Bill Clinton had been in the White House and had failed to address this problem, we probably would be marching on the White House,” Cleaver told “The Miami Herald” in comments published Sunday. “There is a less-volatile reaction in the CBC because nobody wants to do anything that would empower the people who hate the president.”

The CBC which is representing the black community  in Congress put racial pride over truth.  This is disgraceful . It like was watching  a ship sinking . Everyone is getting into the lifeboats except us. The black community  is staying with President basically the captain going down with ship. Because he’s ours. We have to accept mediocrity from our leaders. That’s Bullshit!!!! Years ago the community would not stand by this.  Now the black community is the hardest hit group in America; high unemployment in all categories. More Americans on Welfare than any time since 1993. From CNN Money.Com via Yahoo Finance:

Amid a still struggling economy, more people in America fell below the poverty line last year, according to new census data released Tuesday.

The nation’s poverty rate rose to 15.1% in 2010, its highest level since 1993. In 2009, 14.3% of people in America were living in poverty.

“The results are not surprising given the economy,” said Paul Osterman, author of “Good Jobs America,” and a labor economist at MIT. “You would expect with so many people unemployed, the poverty rate would go up. It’s just another sign of what a difficult time this is for so many people.”

About 46.2 million people are now considered in poverty, 2.6 million more than last year.

The government defines the poverty line as income of $22,314 a year for a family of four and $11,139 for an individual. The Office of Management and Budget updates the poverty line each year to account for inflation.

Middle-class wealth falls: For middle-class families, income fell in 2010. The median household income was $49,445, down slightly from $49,777 the year before.

The President wrote a check his ass can’t cash. We in the black community was looking to the Obama if he was Jesus. The bible said, “You shall no other god before me.” Were paying a price for this.  His policies have failed. The man is Socialist the CBC is overwhelmingly  Communist. Obama leveling of the playing field has hurt Black the most.

WAKE UP Black America if we continue  on this path we’ll we will be the laughing-stock of the country . You can’t keep on blaming former President George W. Bush  for Obama failures.  When President  was a   lawyer for ACORN  the corrupted Social justice group  sued banks in mid 1990’s in Chicago the Country would not be in this  mess. Trying to end red lining  to blacks turned out be used a vehicle to demand  more people in homes they could not afford. It was noble but unrealistic! The minority communities  are the losers.

We.want. better!

Unemployment at a Standstill 9.1% Surprise no New Jobs Created

Bad News just got worse as an August 2011 will go down as the first month 1945  Private Industry did not produce a job. Economists were expecting 80,000 created. From AP via Yahoo News:

Employers added no jobs in August — an alarming setback for the economy that renewed fears of another recession and raised pressure on Washington to end the hiring standstill.

Worries flared Friday after the release of the worst jobs report since September 2010. Total payrolls were unchanged, the first time since 1945 that the government reported a net job change of zero. The unemployment rate stayed at 9.1 percent.

The dismal news two-day before Labor Day sent stocks plunging. The Dow Jones industrial average fell 253 points, or more than 2 percent.

Read Everything!

Illinois Loses More Jobs in 2011 Than Any other State

Illinois  lost more jobs for the first seven month of the than any other state. According to a report by the Illinois Policy Institute found based on US Bureau of Labor Statics in July Illinois 24,900 lost.  Since January the Land of Lincoln has lost 89,000.  The unemployment rate rose to 9.5%.

January 2011, Illinois passed the largest tax increase in state history. When Governor Pat Quinn signed the legislation  employers begged the Governor not to sign the bill for fears of job losses. Quinn sign the bill into law. Since then jobs have left the state.

Meanwhile Illinois neighbors Indiana, Ohio Wisconsin and Minnesota either cut taxes or no increase revenue.

What that means while it is not conclusive. The reports shows when taxes are  raised jobs are lost.

Will Springfield and other state capitols including Sacramento, Boston  and Annapolis will learn raising taxes has consequences.

Another Bad Week For President Obama Unemployment Numbers Increased Over 400,000 Last Week His job Approval Fall And The Number who support His an economic agenda at 26%

Boy, after this week Obama definitely need to get away. Unemployment numbers rise over 400,0000 for the first time in two weeks. His Job Approval has fallen to 39% for the first time this year. Only 26%  approve  his handling  of the economy.  This comes as the economy outlook look bad JP Morgan Chase  says. From James Pethokoukis Reuters Syndication:

On Wednesday, Economic Forecaster-in-Chief Barack Obama said, “I don’t think we’re in danger of another recession.” Shades of John McCain’s “The fundamentals of our economy are strong.”

On Thursday, the stock market – freaked out by Europe’s spiraling debt crisis and a shockingly weak Philadelphia Fed manufacturing report – plunged 4.5 percent. In an unintentional rejoinder to Obama, investment bank Morgan Stanley opined that the United States was “dangerously close” to falling back into recession.

And it may be about to get a whole lot worse for the Obama 2012 campaign. The White House’s worst-case scenario for the economy on Election Day next year has become Wall Street’s baseline scenario. After looking at a string of weak economic reports and Europe’s growing fear of debt meltdown and contagion, JPMorgan – led by Obama pal Jamie Dimon – has just come out with a politically poisonous forecast.

The megabank now thinks the economy won’t grow much faster over the next 12 months than it did during the first half of this year — and that’s assuming Europe doesn’t go all pear shaped. It sees GDP growth at just 1.5 percent this year, 1.3 percent next year with unemployment at … 9.5 percent heading into the final days of the election season. “The risks of recession are clearly elevated,” the bank said. Here’s its reasoning:

Consumer sentiment has tumbled and household wealth has deteriorated. Survey measures of capital spending intentions have moved lower and the housing market shows little sign of lifting. Small businesses, retailers, builders and manufacturers all report a weaker business environment. Global growth has disappointed and foreign growth forecasts have been taken lower. In response we are lowering our projection for growth, particularly in the quarters around the turn of the year.

The President’s poll numbers continue to slide from Gallup,Inc:

Gallup latest Presidential Poll

A new low of 26% of Americans approve of President Barack Obama’s handling of the economy, down 11 percentage points since Gallup last measured it in mid-May and well below his previous low of 35% in November 2010.

Obama earns similarly low approval for his handling of the federal budget deficit (24%) and creating jobs (29%).

The president fares relatively better on foreign policy matters, with 53% of Americans approving of his handling of terrorism and roughly 4 in 10 approving on foreign affairs and the situation in Afghanistan. Also, 41% approve of Obama on education.

If I was him I either call back Congress in session or  go on a low level vacation  with the family. (not Martha’s Vineyard.)

Hat Tip: Ed Morrissey of Hot Air

and Hugh Hewitt

Scare: Dow Jones Drops 512 Points European Borses and Asian Markets Plunges Too

For the past nine days  the markets on Wall Street have been on a steady decline  on US Debts crisis,  low growth in consumer spending and fears on Greece. On Thursday a chain reaction  of news including Jobs expectations  and reports from Europe that Italy and Spain may need a bailout. That news sent markets crashing to Earth. The Dow Jones Industrial Average plunges 512  points. From CNBC:

Stocks plunged sharply Thursday, with the Dow down more than 500 points, in its worst one-day drop since December 2008.

All three major averages tumbled into negative territory for the year as investors were rattled over an intensifying global economic slowdown and ahead of the widely-followed monthly unemployment report.

he Dow Jones Industrial Average plummeted 512.76 points, or 4.31 percent, to close at 11,383.68, led by Alcoa [AA  12.94    -1.32  (-9.26%)   ] and BofA [BAC  8.83    -0.71  (-7.44%)   ]. The last time the Dow dropped more than 500 points in a single session was in Dec. 2008.The S&P 500 sank 60.27 points, or 4.78 percent, to end at 1,200.07.

The Nasdaq plunged 136.68 points, or 5.08 percent, to finish at 2556.39.

The major indexes are firmly in negative territory for the year. In addition, all three averages fell into “correction territory,” defined by a drop of 10 percent from its peak from its intraday high in Apr. 29.

The news from Europe also contribute the slide:

The Bank of England and European Central Bank both left rates unchanged, but it did little to improve investor confidence. The ECB signaled it was buying government bonds in response to a deepening European debt crisis.

Investors were also spooked after ECB President Jean-Claude Trichet said “downside risks may have intensified.”

“It is true that we are experiencing a high level of uncertainty, not just in the euro zone,” he said.

On Friday  the European Markets  took a dive on news of fall in the US and Asia From Financial Times:

European bourses opened with more heavy losses on Friday as the wave of frantic risk asset selling leaves worldwide stocks recording eight consecutive days of declines on fears over eurozone debt and waning global growth.

The FTSE All-World index is down 1.9 per cent, commodities remain under pressure and short-term US bond yields sit at record lows, reflecting investor’s scramble to raise cash and park it in perceived havens. Gold lurks at $1,658 an ounce, up 0.6 per cent on the day, and just $27 off its record high.

Asian stocks tumbled as fears rose that the global economy may be heading for a recession with the European debt crisis spreading and the US economy slowing. This pushed the FTSE Asia Pacific index down 3.8 per cent, off more than 10 per cent from its May peak.

Japan’s Nikkei 225 Stock Average plunged 3.7 per cent to its lowest levels in more than four months as exporters took a beating. South Korea’s Kospi Composite index also fell 3.7 per cent, plumbing its lowest intraday levels since March. Australia’s S&P/ASX 200 declined 4 per cent to a two-year low as concerns about the global economy pounded resources stocks.

China’s Shanghai Composite index shed 2.2 per cent as commodity producers, property developers and banks slid on fears of a double-dip recession in the global economy. Hong Kong’s Hang Seng lost 5.4 per cent.

Follow the latest news on Drudge Report.

Say Hello to the Disappearing Black Middle Class

The Great Recession has affected millions of Americans. One group the African-American  community is the hardest hit  community.  From Fox News Channel:

The unemployment situation across America is bad, no doubt. But for African-Americans in some cities, this is not the great recession. It’s the Great Depression.

Take Charlotte, N.C., for example. It is a jewel of the “new South.” The largest financial center outside of New York City, it’s the showcase for next year’s Democratic National Convention. It was a land of hope and opportunity for many blacks with a four-year college degree or higher.

According to an analysis by the Economic Policy Institute, in Charlotte, N.C., the unemployment rate for African-Americans is 19.2 percent. If you add in people who have given up looking for jobs, that number exceeds 20 percent, which, according to economists Algernon Austin and William Darity, has effectively mired blacks in a depression.

“You’re looking at a community that is economically depressed in my opinion,” Austin said. “And we need action that will address that scale of joblessness.”

Read more.
Fox News has video.