Apparently, all this “Hope and Change” in the Age of Obama isn’t working too well for the 9.7% unemployed in this country. This figure represents a loss of almost 1 million jobs this summer alone and is the highest unemployment rate in 26 years. Read more below and watch a video.
Unemployment Reaches 26 Year High
The unemployment rate in the U.S. is 9.7% which is the highest rate in 26 years. It is certainly now inevitable that unemployment will surge past 10% by the end of the year. This is another poke in the eye for a grossly incompetent Obama administration who rammed, as you recall, the $787 billion porkulus bill down Americans’ throats with the false promise of ‘Jobs, Jobs, Jobs’!
These of course are the “official” numbers. The real ones are much worse but rarely reported because of the Labor Department’s very narrow definition of what an unemployed person is. If unemployed people haven’t actually sought jobs in the past four weeks, such as submitting applications or actually interviewing for positions, they’re not included in these numbers. Also not included in the 9.7% are those who want and need full-time jobs but can find only part-time work or are under employed. The unemployment rate would be a whopping 16.5% if those people were included. Completely out of the loop are those who, after benefits ran out, gave up looking for a job – we have no data on them. And as a sidebar, the teen unemployment rates is at 25.5% which is the highest level ever since the Labor Department began keeping it back in 1948.
Was it just 3 months ago that The One himself promised all of us — especially the unemployed — that he would speed up the “shovel ready” yet lagging stimulus projects and “create or save 600,000 jobs”? Heh. More proof positive that when government says they’re the answer (especially this one) they aren’t.
For those who have suffered deeply from the loss of your job or those among us who may feel particularly helpless, pray that in spite of what the feckless Obama administration has done to this country, this 26 year high unemployment rate will be for a short period, and that entrepreneureal spirit that is in America’s DNA and is the backbone of our economic structure, will not be diminished in the process.
Unemployment Reaches 26 Year High Video
Photo: The 405 Club
September 7th, 2009 at 7:53 pm
well the “peak oil” article you reference is very conservative.
even if you ignore the new oil fields discovered off the usa and in the artic, we have enough coal to last over 200 years
at about $50 per barrel you make a profit converting coal to oil
September 7th, 2009 at 10:48 pm
yes, but it is not instantaneous. you actually have to build plants to do this.
input = coal
output = oil
this sounds great, and it is profitable at somewhere between $30 to $50 per barrel.
the problem is the conversion factory costs are enormous, on the order of a billion dollars to make one plant. each plant could make up to 100,000 barrels a day at full production. the usa uses 20 million barrels a day, so even at max capacity each plant would only make 1% of our needs. that is we would have to make over 100 plants to replace all of our imported oil … at a cost of about $100 billion.
now here is the bad part. opec could easily cut prices to under $30 a barrel and bankrupt the plants.
September 7th, 2009 at 10:51 pm
however, the usa alone has enough coal to use this method to fuel its needs for 200 years.
wind and solar are not even close to coming online compared to the coal to oil.
the germans converted coal to oil throughout ww2 and south africa has been doing it since the 1970’s. china is now building 27 new coal to oil plants — they have a huge amount of coal too.
September 8th, 2009 at 5:42 am
Name:
Listen we need energy independence, because it’s just took expensive and we could create jobs here. Al Gore is wrong on everything and 38,000 scientist said Global Warming is not a fact.
September 9th, 2009 at 8:40 am
Charles-
Wait! Global warming is not a fact? You’re kidding me, I thought that the debate was over. (btw, it’s hard to convey the amount of sarcasm I’d like to convey online, but trust me, it’s there).
September 9th, 2009 at 3:05 pm
Ryan:
Crap and trade and the idea on Global Warming was made to give Al Gore a pay check. Go to How the World works on youtube and watch a couple videos and he’ll show you how false Global Warming is.
September 17th, 2009 at 4:08 am
As of now, the unemployment is the highest it has been in 26 years! Yes, 26 years! Let’s think about that: Back in 1983, the unemployment was higher: it was over 10%. Who was president then? Ronald Reagan. In fact Reagan took over a poor economy left behind by Carter, but the unemployment at the time Reagan went into office was only 7.4%, and over the next 2 years it has raised up to 10.7% despite the fact that tax cuts were put in immediately. So those who point the finger at Obama for unemployment should be fair to mention that the unemployment situation that Obama has had is not nearly as bad as the one Reagan had if we look restrict to the time they first entered office. And if one does not admit that, then they are either spreading disinformation, or else down right stupid.