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i hope this guy is wrong

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  • GM.Chief

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    "If one considers the people who would like a job but have stopped looking -- so-called discouraged workers -- and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent, said Atlanta Fed chief Dennis Lockhart.

    He underscored that he was expressing his own views, which did "do not necessarily reflect those of my colleagues on the Federal Open Market Commitee," the policy-setting body of the central bank.

    I wouldn't be surprised if he's right, but I'm with you on this DC, I HOPE he's wrong.
     

    DCortez

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    SiscoKid

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    The unemployment situation touched us and I have to go into detail here again. (as usual)

    Last August wife was laid off from her 15 year bank job. She drew unemployment for six months, her Cobra Ins was $460 a month, nearly the amount she was receiving, she kept it up. Finally she took a job at local Walmart. She hated it, straight nights, said every night was a fight with the illegals, minorities, and shoplifters.

    Finally she got wind of another bank job in June, was hired, and danced a jig. Said she felt good that she could leave Walmart and provide a job for someone who probably really needed it.

    She was a product of the recession, fought the battle, and came out on top. Many don't survive.

    Aren't we happy to be living in America 2009?
     

    BurkGlocker

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    I've heard figures of anywhere from 8-15% in our area. The guy that gave our last unemployment help class couldnt even give us a concrete number on this. That could be anywhere from 8500-17000 people out of work just in the WF area alone. Coming out of the recession my ass, thinking its the start of another depression or worse...
     

    Texas1911

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    Jobless rates are much lower in Texas, in some areas of the country the jobless rates are incredibly high. I think we are going to see alot of migration within the country.
     

    wllmwallace

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    Okay, so I found a thread that made me want to say something. I have a Bachelor's of Science in Biology, UC Berkely. MCSE, C++, A+, CCNA certified, have been a Health Inspector, FEMA Flood Plain Manager, and DR for TECQ (TNRCC) for Tom Green County, STRONG background in Public Health/Emergency Medicine/Computers (prior HM2/FMF US Navy x 8 years - Veteran of DS/DS, Somalia, Rwanda, Sierre Leone, Bosnia)....lost my computer related job in Dallas due to budget cutbacks......

    Making a living right now at 38 years old.....HVAC Technician, started out as a helper, learned the trade OJT, worked hard to learn as fast as I could, been at it about 6 months, and am THANKFUL every damn day I roll out of bed at 6 am and pull my work boots on that I can....

    Pay the bills (house is paid off as are all three vehicles), putting food on the table for my family (Wife and TWO teenage boys), paying for braces for both, Tennis for oldest at Jr. High, and still have the money to keep my hobby (shooting). Pay for everything....EVERYTHING...cash money...credit rating at 840, and owe NO ONE.

    YES - it is HARD thankless work mainly construction on a rooftop all day long.

    YES - it sucks that I can't have my old jobs, but sitting around whining about it is worthless.

    I became out of work...I went and found a damn JOB. I work with probably a 80-90% illegal/minority workforce...roofers, duct installers, various other construction related jobs...and those guys EARN their money. They WORK...ALL DAY, ANY DAY. I have RESPECT for the Mexicans/Latino people I share a spot of shade with at lunch. Those guys are out there doing a job that I see NO other race, white, black, yellow, purple, polka-dotted person willing to even CONSIDER doing.

    Economy suck? Job Market suck? you BET....but I am sick to DEATH about hearing the average joe blow bitching about it when there ARE jobs out there....it just comes down to how HARD you're wiling to work to make the $$ to support yourself.

    Guess it all comes down to the way I was raised. TEXANS - Vietnam Vet dad, WWII Carlson Raider Grandfather - MARINES...told me if I joined the Corps they'd Kick My Ass - became a Corpsman and gave 'em both the finger.

    They were HARD men, who's job it was to build MEN, not raise little boys.

    Rant concluded, soap box stored, return to normal.
     

    oldguy

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    Economy suck? Job Market suck? you BET....but I am sick to DEATH about hearing the average joe blow bitching about it when there ARE jobs out there....it just comes down to how HARD you're wiling to work to make the $$ to support yourself.
    While I agree with most of what you say and your work ethic, I do believe the "bitching" part is necessary remember we can do both, the problem we face is a continuing corrupt government along with that is a fast growing population many of whom do not work but live off the rest of us, you add to this mess outsourcing,loss of manufacturing,bleeding money to the third world's for nation building and its a recipe for disaster, so yeah we need to bitch at the top of our lungs to anyone who will listen. With approximately half the population working and the other half waiting for hand outs at some point the boat will sink,simply common sense.
     

    wllmwallace

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    Allow me to re-phrase:

    Joe-Blow...guy at the bar bitching about being out of work but has no problem buying beer with his Unemployment Check. That type of character.

    "Bitching" to make yourself heard, to announce displeasure at current state of affairs due to Gov't, legislature, people on "the dole", welfare drug dealers driving a new lexus...

    And if the "bitching" helps change that type of discorde and economic DEATH...

    by all means...BITCH AWAY!
     

    Jeff B

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    Shoot, we could be back at "full" employment and you'll have the chronically unemployed. Can't/won't/don't want to work, and they'll be bitching up a storm, "it's not fair", etc...

    Back to the topic at hand, I think he is correct am surprised that he has the intestinal fortitude to say so, which means he REALLY must believe it, to come out and essentially contradict the Administration. Don't htink he hasn't already heard about this.

    He underscored that he was expressing his own views, which did "do not necessarily reflect those of my colleagues on the Federal Open Market Committee," the policy-setting body of the central bank.

    Lockhart pointed out in a speech to a chamber of commerce in Chattanooga, Tennessee that those two categories of people are not taken into account in the Labor Department's monthly report on the unemployment rate. The official July jobless rate was 9.4 percent.

    Lockhart, who heads the Atlanta, Georgia, division of the Fed, is the first central bank official to acknowledge the depth of unemployment amid the worst US recession since the Great Depression.
    Lockhart said the US economy was improving but "still fragile," and the beginning stages of a sluggish recovery were underway.
    "My forecast for a slow recovery implies a protracted period of high unemployment," he said, adding that it would be difficult to stimulate jobs through additional public spending.
    "Further fiscal stimulus has been mentioned, but the full effects of the first stimulus package are not yet clear, and the concern over adding to the federal deficit and the resulting national debt is warranted," he said


    Note his warnings in the last paragraph about further fiscal stimulus, federal defecit and national debt. He sees what many of us see and is alarmed enough by it to speak out publically, even if in a restrained and diplomatic way.

    Who knows, maybe he wants to be the next Chairman of the Fed, after the house of cards collapses?

    Jeff B.
     

    oldguy

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    And if the "bitching" helps change that type of discorde and economic DEATH...

    by all means...BITCH AWAY!


    The silent majority has been silent too long, we have groups for ever known minority that the left can think of however average Joe who is paying the bills has none, we have a senator being buried today that spent his life taking from working people to fund those who wont work and yet we're suppose to honor him, so yes we need to be very vocal.

    A consumer based economy cannot survive long term and maintain a quality life.
     

    BurkGlocker

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    Aug 24, 2009
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    Yes, I will bitch, especially when I DO get off my ass every morning do my job searches, going through the phone book and calling everyone I can and asking them if they're hiring. I dont have the money to drive the 40 miles back and forth and then spending the day driving around town looking for jobs. I have out applications in at every single temp service in town and call them everyday to see if there's anything for me. Its getting to where I am going to have to start selling things, 'my pretties' as someone called them not long ago, but if I have to to keep my family clothed and fed, you're MFing right I will! I have already gotten rid of three pistols and shit loads of ammo, and not even for what I could get. Desperate times call for desperate measures, but you arent taking my .45 from me, no f'ing way.

    My parents had to make sacrifices trying to raise three big ass and hungry boys (okay, two big ass boys and just one hungry one). Mom worked at the hospital in L/D and was on call everyday for as long as I can remember. Dad worked his ass off at two and three jobs at a time during the summer months just to F'ing feed us and give us a roof over our heads. And thats where the winter months came in, and we filled our tags with deer & turkey and killed as many hog as we could through the year to fill our freezer so that we did have something to eat. During those times together, Dad instilled all of his morals and values upon me and taught me how to be respectful and diligent, and to hold my head up high during hard times, which was quite often while growing up.

    money wise, we were F'ing poor, but family wise, I was the richest person I knew, and I want my kids to realize that material things will be gained and sometimes lost, but only through hard work will these things be acheived. I am not that Joe-Blow spending every last cent on booze, I care about my family and will make great sacrifices to keep them healthy and safe even if it means I have to start over again. Wont be the first nor the last time that this has happened.

    Rock on!

    Brad L.
     

    wllmwallace

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    "I care about my family and will make great sacrifices to keep them healthy and safe even if it means I have to start over again."

    Amen to that brother. Doing it now, and it ain't easy, but it's work. I freshly remember early 2000 when I was pulling down 6 figures in the computer industry here in Dallas. Girlfriend at the time, wife now of 7 years with two boys from previous marraige sat my ass down and MADE me buy a house. Paid for, outright, no mortgage. Smart filly hooked my ass and I haven't looked back since, job market went to shyte, now working as an HVAC tech but what we have, is paid for. I thank my lucky stars and sore muscles daily that my check pays the bills and buys the groceries. I got LUCKY...most aren't and we pray for them every night.
     

    BurkGlocker

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    My wife unfortunately is disabled and cant work except for piddly ass jobs that really dont pay much, and even then she can only make so much or she will lose her SSI benifits. Last summer she worked for Budget Rent-a-Shit to help out but all her checks did was pay for groceries while the kids were home for summer break, and then they let her and about 100 more people go because they shut the doors to the local call center here.

    Theres just nothing out there that I can make enough money to support my family. Hell, if I have to start selling body parts on the black market I will. You can live with one kidney for awhile, right?
     

    Greg_TX

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    While driving around metro areas in Texas, start taking notice of how many out-of-state plates you see. While the economic picture in Texas isn't as rosy as we'd like, it's far better than many other parts parts of the country. Remember the old "Yankee with a U-Haul" jokes?
     

    idleprocess

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    At one point in time, most European countries had a far more honest means of calculating unemployment than the US - it was a pretty simple matter of determining the number of qualified (read: not disabled, not in school, not financially independent) working-age people out of work. I see that they have changed their methods to the smoke-and-mirrors game of counting the unemployment rolls, which as we all know lose job-seekers every week as their benefits expire. Of course, this lets them report unemployment figures around the sub-6% that was normal in the United States as of a few years ago rather than the more real >10% that's actually the norm.
     
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