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Saturday, July 04, 2009

Underemployment Rate Soars To 16.5 Percent

Yesterday we learned that the U.S. unemployment rate hit 9.5 percent in just six short month under Dear Leader His Excellency Barack Hussein Pbama, Junior. We hit 10 percent unemployment under Ronald Reagan too. The difference is that under Reagan, it took nearly two years to hit an unemployment rate of 10 percent because the country was recovering from the disastrous Carter Admin Malaise.

Under Pbama, it took a mere six months to hit 10 percent unemployment. SIX MONTHS! Five and a-half, actually. At this rate, we can extrapolate numbers and guess that two years from now under Pbama, we can expect a 40 percent unemployment figure.

More alarming is the underemployment rate which is at a staggering 16.5 percent. Money Morning:

    Underemployment, where desperate workers take jobs that are not meeting their desired compensation, hours or level of skill and experience, increased to 16.5% in June from 16.4% in May. The underemployment rate last month was the highest since the Labor Department started tracking it in 1994.

    Some analysts, such as Themis Trading’s Co-Manager of Trading Joe Saluzzi, believe underemployment is the “real” amount of unemployed people in the market.

    “[16.5% is] the real amount if unemployed people out there. If anything you see wage growth is not there, hourly earnings and the workweek is lower. Now you have a recipe that is a mess here, because nothing is improving. People still want to say that unemployment is a lagging indicator, I don’t get that,” Saluzzi told Reuters.“The only thing we’ve got going is stimulus[.]

And how 'bout that stimulus, ladies and gentlemen. How's that working out for you? Not good? Huh...imagine that. That's because all that stimulus money is going to big, fat bonus checks to the investment and banking firms that supported, voted and donated to The Kenyan



This is all part of The Kenyan's plan to make our country and its people suffer. He's already killed the economy, our financial institutions and our auto industry. Next in his sites is the our healthcare and medical industry. After that, he will kill our method of plentiful food production and farming.

A hungry, starving nation is a nation willing to do anything. And this is what Fascist Pbama wants. I know his Pillow-Biting Cultists still think he's the dreamiest thing since serial adulterer JFK. I wonder if they'll still think this as they feast upon rancid food from dumpster diving and drink contaminated water?

Way to go Barry! You're doing a Heckuva Job! A Heckuva Job!

©2009

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