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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Stocks lose 3% following bad May jobs report, more European debt troubles

UPDATED at 6:36 p.m. to fix stop-loss/margin-call error:

Stocks dove in a massive sell-off in the last hour of trading, hitting their lowest levels since February. Wall Street responded to a discouraging May jobs report and more European debt troubles, raising concerns about a double-dip recession.

The Dow closed down 3.2 percent at 9,931.37, breaking 10,000. The Dow lost more than 300 points on the day. The index is off 12.5 percent from its April high and all 30 Dow stocks were down today. The Dow closed down 2.3 percent for the week.

The broader S&P 500 closed down 3.2 percent. The S&P is down 12.6 percent from its April high. It closed down 2.4 percent for the week.

The tech-heavy Nasdaq closed down 3.4 percent. It's down 12.3 percent since its April high and is down 1.8 for the week.

All three major indices are now in negative territory for the year.

It was the second-worst day of the year for stocks. Today's losses on the S&P 500 and the Nasdaq were worse than the indices suffered during the "flash crash."

The sell-off is likely being exacerbated by margin calls stop-loss orders, meaning investors' instructions to brokers to sell their stock when it drops to a certain price or has a certain-percentage drop. This creates a snowball sell-off effect.

Hungary is the latest European country to confess to debt problems. The current administration blames the previous one for hiding debt problems and lying about the nation's financial standing. The same was true of the past two administrations in Greece. A Hungarian official called his nation's situation "grave" and said a default is not out of the question.

In addition to adding yet another Euro state to the Continent's debt contagion, some in America feel that looking at Europe is the same as looking in the mirror. They look at deficit problems in states like California and watch state and local governments around the country slash employees and expenses to try to balance their budget.

Meanwhile, even though the national unemployment rate in May dropped to 9.7 percent from 9.9 percent, almost all job growth last month came from the addition of more than 400,000 Census workers -- jobs that will go away later this year. Traders wonder if the private sector is ready to start creating jobs and understand that government-fueled job creation is not sustainable.

All this raises worries that the U.S. could teeter back into a double-dip recession, less than one year out of the worst recession since the Great Depression. Former Labor Secretary Robert Reich, speaking earlier today on CNBC, raised the possibility of a double-dip recession, which no doubt spooked traders.

Shares of BP performed worse than the market again, losing 5.4 percent on the day. The company managed to place a cap on the broken well, but the vents on the cap are still open and oil continues to spew into the Gulf.

Stocks testing day's lows

2:09 p.m.: Stocks are testing their lows on the as the sell-off continues and the Dow breaks back down through the 10,000 level, thanks to a bad jobs report and more troubles in Europe.

With a little less than two hours to go on the trading week, the Dow is down 2.6 percent. All 30 Dow stocks are down.

The broader S&P 500 is down 2.8 percent.

The tech-heavy Nasdaq is down 2.9 percent.

The euro continues its slide, thanks to sovereign debt problems on the Continent. The euro is now selling for $1.20. Oil is slumping as well, and is down nearly 4 percent on the day, selling at just under $72 per barrel.

Stocks extend losses at mid-day:

11:48 a.m.: Stocks are extending their opening sell-off, thanks to a disappointing jobs report this morning and more worries about sovereign debt in Europe, which now has to deal with Hungary.

As stocks approach mid-day trading, the Dow is down 2 percent.

The broader S&P 500 is down 1.9 percent.

The tech-heavy Nasdaq is down 1.7 percent.

Oil is down about 3 percent and the euro continues down against the dollar.

In European markets, which closed moments ago, London's FTSE closed down 1.8 percent, Germany's DAX closed down 2 percent and France's CAC 40 closed down 2.9 percent in a broad slump.

Stocks off sharply at opening

10:05 a.m.: Stocks are off sharply in early trading today, as Wall Street is digesting a disappointing May jobs report and hashing over more troubles in Europe.

The Dow is down 1.5 percent and is flirting with the 10,000 level. All 30 Dow stocks are lower.

The broader S&P 500 is down 1.5 percent.

The tech-heavy Nasdaq is down 1.2 percent. However, it is still up for the week. So far.

The economy added 431,000 new jobs in May, which was a significant improvement over April, but still short of expectations. More disappointingly, the big job growth came from government jobs, with lots of Census workers included in that. Only 44,000 jobs were created in the private sector.

This is bad for two reasons: A) Those Census jobs -- though they are legitimate jobs, paying legit wages -- are temporary. They go away when the Census goes away. B) The economy cannot grow out of this recovery on government money and job creation. The private sector needs to add jobs.

In Europe, Hungary is the new Greece. That nation is struggling with a sovereign debt crisis, like Greece and many other countries, which worries Wall Street. A Hungarian official said his economy is in a "grave state."

The euro is trading lower against the dollar.

By Frank Ahrens  |  June 4, 2010; 6:36 PM ET
Categories:  Data , Wall Street  
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Next: Stocks end day in another sharp sell-off

Comments

Now the central banks are furiously attempting to prop the falling Euro. And SocGen is rumoured to be sitting on a massive derivatives loss.

Looks like all the Ponzi manipulations are finally becoming stale dated. What a mess.

Posted by: bandcyuk | June 4, 2010 11:09 AM | Report abuse

Job report is awful. It's all census workers. Only 41,000 new private sector jobs while Obama was looking for 500,000. Market plunges.

Posted by: farmsnorton | June 4, 2010 11:23 AM | Report abuse

Well, it's a good thing the Bush Administration promoted saving our Wall Street buddies and their leveraged derivitive schemes with taxpayer dollars instead of using those same dollars to replace the jobs sent to India and China.

Lord only knows what the Dow Jones would be at!

Posted by: shadowmagician | June 4, 2010 11:27 AM | Report abuse

The problems with employment are seen much better from long term trends then from the bipolar reactions of various commentators and analysts to the gyrations of relatively short term data. Employment in the US has been hurt over decades because of declining competitiveness of US manufacturing, global competition from low wage countries, and rising productivity from automation. We managed to recover from the last downturn in 2003 largely by creating an unsustainable boom in real estate. This time around we have seen business realize particularly large gains in productivity. Those gains have left much of US business in pretty good shape. Probably they have overshot at least some and will have to rehire some people as the economy recovers. But those businesses that can will move some of those jobs overseas. They also may rely more on short term workers that can more easily be let go and can be paid at whatever rate the market will allow. As for real estate, even the prospect of regaining some kind of normal operation still seems remote and there is no apparent activity to drive the current recovery the way real estate drove the last one.

Posted by: dnjake | June 4, 2010 11:28 AM | Report abuse

Hard to believe but Obama is out there bragging about the jobs report. What a phony this man is, and he is takiking the country apart piece by piece. NO jobs should make a big NO vote for democratic party.

Posted by: farmsnorton | June 4, 2010 11:31 AM | Report abuse

The report is horrible and yet Obama still can't read... The economy is not improving, and no Obama can't simply say it is and make it so.

Is nobody sitting down with Obama and explaining math to him?

It is amazing to me that people will spin the report into something good, when this is all bad news.

Be honest and address the problem, if you don't know what to do, we understand. Hire someone to do your job for you that can read and do simple math.

Posted by: Tim_incubator | June 4, 2010 11:35 AM | Report abuse

All that stimulus money down the drain. The census workers will work through the first week in June and then it's bye,bye.

Posted by: farmsnorton | June 4, 2010 11:36 AM | Report abuse

Obama continues to lie to the American people. See in November, you dope.

Posted by: farmsnorton | June 4, 2010 11:44 AM | Report abuse

Even the 431,000 new jobs number is highly Suspect. Recent reports: government hires a census worker who works a short time, then they're terminated. Then the government re-hires and re-trains the same worker, over and over... One worker can be re-hired 3 times or more and its counted as "3 new jobs"
That's government bureaucracy for you!

Posted by: ohioan | June 4, 2010 11:52 AM | Report abuse

Oboozo is either stupid, delusional or surrounds himself with people who are or worse yet, both.

EXAMPLE............
From Obozzo's teleprompter--------

"This report is a sign that our economy is getting stronger by the day," Obama said in remarks to about about 50 workers at a large truck garage in Maryland.

"A lot of businesses that were hit hard during this downturn, they are starting to hire again. Workers who were laid off are starting to get their jobs back," he said.

The Labor Department said just today payrolls rose 431,000 primary due to the fact that the government added 411,000 workers to conduct the U.S. Census.

Wow, let's just hope we want to conduct a census every month for the next 30 years because that's how long it's going to take to recover from the nightmarish abortion known as the Obozzo administration.

Posted by: Bcamp55 | June 4, 2010 11:53 AM | Report abuse

The economy is wobbly, but it is not THAT wobbly. Investors are nuts. They over react to every snippet of information.

Posted by: BaltimoreCotls59 | June 4, 2010 12:01 PM | Report abuse

Obummer wants us to believe the economy is improving because the jobs report showed almost 500,000 new jobs. I guess he thinks we're so stupid we don't know the difference between real private sector jobs and temporary government jobs. How do idiots like Obummer and Bush ever get elected?

Posted by: dennisnickell | June 4, 2010 12:03 PM | Report abuse

No more Obama bull. Even a child could see through this spin job. If you want to do something right, fire Salazar for not inspecting the deep water Horizon since July 2009. It was supposed to be inspected monthly.

Posted by: farmsnorton | June 4, 2010 12:08 PM | Report abuse

its all census workers and blsdata phantom jobs !!! from our great lying government

Posted by: yourmomscalling | June 4, 2010 12:10 PM | Report abuse

Loss of manufacturing - offshoring - technology driven productivity increases - leave businesses healthy but hurt employment. Fortunately we didn't liquidate GM and Chrysler - they are hiring and turning profits. We need to get serious about alternative energy - we have dropped from 40% to 5% of market share of PV's. It is alarming that the solution proposed by tbags is more tax and spending cuts which will only further weaken our economy and push us closer towards Greece.

Posted by: truthseeker13 | June 4, 2010 12:23 PM | Report abuse


farmsnorton said:
"Hard to believe but Obama is out there bragging about the jobs report. What a phony this man is, and he is taking the country apart piece by piece."

His base support is now blacks, the young crowd, and die-hard democrats who put politics above country. Too bad.
.

Posted by: Billw3 | June 4, 2010 12:24 PM | Report abuse


dennisnickell ask:
"How do idiots like Obummer and Bush ever get elected?"

Abraham Lincoln answered that long ago -"To win the election, impress the ignorant".

Jefferson wanted voters to be qualified when writing the constitution, but he was outvoted.
.

Posted by: Billw3 | June 4, 2010 12:34 PM | Report abuse

Governor Christie: Not About Teachers

http://www.youtube.com/watch?v=1ksLlAi3iIc&feature=player_embedded#at=25

Damn, Christie is Great !!


Posted by: FraudObama | June 4, 2010 12:55 PM | Report abuse

I pay less in Taxes, less for Food, and less for Gasoline now than when Bush was in Office. Creating Clean Energy Jobs producing products we can sell will reduce our national debt. China is happy to keep subsidizing our debt so we can purchase products made in China. While China invests in the Jobs and Industries of the future we continue to use 25% of the worlds Oil and rely on the energy industries of the past.

When over Ten Million are Recently Unemployed, when Troops are Dying in Two Wars, when Americans are in need, it's time for those of us with Jobs and who are not in War Zones risking our lives, to step up to the Plate and Help Pay to create the Clean Energy Jobs and Employment Opportunities our Country needs.

Every week I see soldiers coming home in Body Bags while shoppers flock to buy Chinese products.

We must end Bush era tax cuts for the most wealthy and tax large scale polluters and imported Oil.

Posted by: liveride | June 4, 2010 12:57 PM | Report abuse

I AM BEGINNING TO FEEL LIKE A CHARACTER IN ORWELL'S "1984". WHEN I SAW THE ALLEGED DROP IN UNEMPLOYMENT FROM 9.9% TO 9.7% I DOUBLE CHECKED THE FIGURES WITH SOME NEWSPAPER ARTICLES I SAVED, AND GUESS WHAT? THE PAPERS I RECEIVED ALL CLAIMED THAT UNEMPLOYENT FELL TO 9.7% LAST MONTH TOO. IS THIS WHY PHYSICAL NEWPAPERS ARE BEING REPLACED WITH ON-LINE PAPERS? OR IS SOMEBODY GIVING US NEWS THATIS ON A PAR WITH SOVIET CROP REPORTS?

Posted by: MARKM2 | June 4, 2010 1:12 PM | Report abuse

Sorry Liveride, but you are either notliving in the USA or you are being less than honest. I make 130K and my taxes have gone up since Obama came into office. When Bush was president gas was down to $1.98/gal and now it is $2.76/gal. Food and sundries have all gone up in price as middlement/retailers/ and producers have suffered higher taxes and increases in the minimum wage and health insurance costs, and those costs are set to go even higher, especially when the Bush tax cuts expire and the true costs of cap-trade and Obamacare kick in.

Posted by: MARKM2 | June 4, 2010 1:17 PM | Report abuse

The weakness of our economy is a direct result of the weakness of the FEMINMEN running our FEDERAL GOVERNMENT. WHAT IS TRUTH?

Posted by: barrysal | June 4, 2010 1:29 PM | Report abuse

Tariffs and the rebuilding of every form of industry in the USA is the only thing that will save this nation now holding people packed tight together in numbers climbing to six or seven hundred million, the numbers the census is barely showing. The world's population has flooded into the USA and not just from Mexico.

If uncontrolled immigration was supposed to gain a population the size of China, they are about there and need to bring jobs back now.

Posted by: Elisa2 | June 4, 2010 1:32 PM | Report abuse

FYI - The belief in Green Industry destroyed the Spanish economy, which was doing ok till they adopted that policy of fairy tale economics.

Posted by: Elisa2 | June 4, 2010 1:35 PM | Report abuse

Stop Crying for Obama to create Jobs for you. Start paying some taxes and Stop whining and complaining all the time.

I (& 99% of taxpayers) pay less in Taxes, less for Food, and less for Gasoline now than when Bush was in Office.

Creating Clean Energy Jobs producing products we can sell will reduce our national debt. China is happy to keep subsidizing our debt so we can purchase products made in China.

While China invests in the Clean Energy Jobs and Industries of the future we continue to use 25% of the worlds Oil and rely on the energy industries of the past.

When over Ten Million are Recently Unemployed, when Troops are Dying in Two Wars, when Americans are in need, it's time for those of us with Jobs and who are not in War Zones risking our lives, to step up to the Plate and Help Pay to create the Clean Energy Jobs and Employment Opportunities our Country needs.

Every week I see soldiers coming home in Body Bags while shoppers flock to buy Chinese products.

We must end Bush era $2 Trillion in tax cuts for the most wealthy and Tax Large Scale (Oil, Coal, Livestock) Polluters and Imported Oil.

We are Paying **Hundreds of Billions ~ Trillions** for Civilian and Military Expenses that we Borrow Money from China to Pay for:

* $2,000 Billion ($2 Trillion) in Tax Breaks for the Rich
* $350 Billion for the Navy’s Littoral Warships ($550 Million each)
* $64 Billion for 183+ F-22s @ $350 Million each *(Pentagon: “only ready to fly 62% of the time and haven't met most of their performance goals”)
* $7~13 Billion for each New Nuclear Submarine
* $184 Billion for AIG
* $200 Billion for Fannie Mae and Freddy Mac
* Hundreds of Billions for Doctors Medicare payments, State Jobs, Unemployed, etc.,

Posted by: liveride | June 4, 2010 1:58 PM | Report abuse

Since Obama became President 7.8M jobs have been dropped from the workforce.

Today, an estimated 12M illegal aliens are living in our country. We must presume most are working at jobs Americans WILL do if the wages are reasonable.

Of the estimated 12M illegal aliens living and working in our country, many are receiving some kind of tax funded subsidy from a dwindling pool of tax payers.

If Obama REALLY wants to do something to send the stock market into an upward spiral, now would be a good time to cut off illegal aliens from jobs, subsidies and hope of flying under the radar to get their own keys to the Welfare and Medicaid castle.

Americans are struggling to make ends meet during these difficult times, we can't afford to take care of Mexican and Latin American illegal indigents as well.

Its time they go home. Even if only half the jobs they are doing are filled by Americans after their departure, that is 6M jobs for Americans in the private sector and one giant step forward to economic recovery.

Jobs and an economic turnaround - THAT's what will make the stock market hum

Posted by: asmith1 | June 4, 2010 2:13 PM | Report abuse

The same Wall St firms and the same Hedge Funds are causing these radical swings in the market...and they are making money selling short and then buying back within hours.

No regulation proposed in Congress will control this excess of greed. It is beyond the imagination and understanding of ordinary Americans. If we can't get minimal controls and regulations in place soon, it is in clear fact the fault of Republicans in Congress.

Tea Party, can you even read?

Posted by: walden1 | June 4, 2010 2:20 PM | Report abuse

I hope there's nobody in America that believes the spin put out by the administration , and parts of Wall Street every other day . UP , down , down up . The DOW can rise to 12,000 tomorrow , and with an unemployment rate near 10% it may fall to 6000 the following day. America and it's businesses will never survive with the boob and his cronies we now have in Washington . Tax and Spend never solved a Depression . And this Carbon Tax he's going to push through, using the OIl Spill to help him , will just about crush small businesses. Get Osama bin Obama the Hell out of there before we're all on a Soup Line . After all that's what he and his Mulah buddies want . He was sent here to destroy America , by the 3rd World Pukes who would give an arm to have been born an American.

Posted by: puck-101 | June 4, 2010 2:46 PM | Report abuse

THE OBOZO ADMINISTRATION IS A BUNCH OF LYING SON OF A GUN'S AREN'T THEY?

===========================================

Friday, June 04, 2010

Congressman Joe Sestak’s post-primary bounce appears to be over, and he now trails Republican rival Pat Toomey by seven points in the U.S. Senate contest in Pennsylvania.

A new Rasmussen Reports telephone survey of Likely Voters in Pennsylvania shows Toomey with 45% support, while Sestak earns 38%. Five percent (5%) prefer another candidate in the race, and 12% are undecided.

==========================================

LOOKS LIKE WE TAKE ANOTHER DEMOCRAP SEAT.

Posted by: charlietuna666 | June 4, 2010 2:48 PM | Report abuse


"We are completely in the bag for Barry the incompetent boob Obama and will never play the story straight if it involves Barry and his fudged jobs reports."

Your Editorial Staff

Posted by: screwjob16 | June 4, 2010 2:50 PM | Report abuse

Obama is too busy and cannot be bothered with the little worries of the little people.........

Instead of the economy...Obama is busy working with Bill Ayers on Foreign Policy......

Chicago, 1968: hippies turn to violence in the streets...Weatherman Bill Ayers was there........

Former Weather Underground leaders William Ayers and Bernardine Dohrn, as well as Code Pink founder Jodie Evans, helped organize the Free Gaza Movement, which launched the six-ship flotilla from Turkey to Israel that ended in a violent clash with Israeli Defense Forces


So, the connection to provoking a violent response is well established with Ayers.....

Obama and Ayers, Ayers ghostwrote Dreams of My Father....Ayers foments violence...Obama condemns the target of the provocation,

Bill Ayers and Islam smile.........and Obama goes for another round of golf.....

See, too busy, more important things than an economic problem...

Besides, we all know that democrats can, have and will legislate a recession into a depression.

Posted by: georgedixon | June 4, 2010 2:52 PM | Report abuse

Hard to believe but Obama is out there bragging about the jobs report. What a phony this man is, and he is takiking the country apart piece by piece. NO jobs should make a big NO vote for democratic party.

Posted by: farmsnorton
---------------------------------
Yeah, it's too bad we don't have Grandpa McCain and Sarah The Idiot running things.
We'd all be SO much better off if we had those "real common sense folks" in charge.

Posted by: cjbass55 | June 4, 2010 2:55 PM | Report abuse

Am I the only old fogey who remembers the 1980s, when the quickest way to *raise* your stock price was to lay off a few thousand employees? It sounds like big investors are finally realizing what the rest of us have known all along: you can't succeed in business if your customers have no money.

Posted by: n_mcguire | June 4, 2010 2:57 PM | Report abuse

Just a few short weeks ago Gibbs was bragging about how Obama's policies had made the stock market go up. Things are now looking awful. Worst president ever. All that stimulus money down the drain

Posted by: farmsnorton | June 4, 2010 2:59 PM | Report abuse

Yeah, but look at the upside: the government has figured out that hiring people will create jobs. Hmmmmm. If the private sector isn't willing to create jobs, then why should the government listen to the private sector or even work with the private sector?

Posted by: rickyrab | June 4, 2010 2:59 PM | Report abuse

Obama is either an idiot or a traitor. Take your pick. Either way we are screwed until 2012.

Posted by: MikeJ9116 | June 4, 2010 3:06 PM | Report abuse

This administration has been cooking the books for months.

Well eventually they had to get burned. Let's see how many more times he can goose the economy with bailouts before the implosion that will most certainly happen.

Get ready for a very long bumpy ride.

See you at the voting booth in November

Posted by: jace1 | June 4, 2010 3:07 PM | Report abuse

The sell-off is likely being exacerbated by "margin calls," meaning investors' instructions to brokers to sell their stock when it drops to a certain price or has a certain-percentage drop.

Bullcrap!

A margin call is when loans that have been made to purchase securities are called by the lender, forcing the investor to liquidate securities in order to repay the loan.

I think you've confused 'stop loss' instructions with 'margin call'. Your finance profs must be very disappointed in you, Frank.

Posted by: tennesseemoonshiner | June 4, 2010 3:25 PM | Report abuse

Obama wants the economy to be bad, for people to look to the government for jobs and entitlements, then he controls everyone. Doesn't anyone get his long-range plan to create a dictatorship?

Posted by: kat17 | June 4, 2010 3:26 PM | Report abuse

Posted by: kat17
Obama wants the economy to be bad, for people to look to the government for jobs and entitlements, then he controls everyone. Doesn't anyone get his long-range plan to create a dictatorship?
*******************************************

This is why I consider Obama a traitor to this country. I would say a traitor to HIS country but I am not convinced he is a citizen since he refuses to produce a birth certificate with the proper certifications and signatures.

Posted by: MikeJ9116 | June 4, 2010 3:30 PM | Report abuse

Come on guys.... haven't you heard.. this is all the fault of BUSH.... 20 years from now Obama ( yes 20 yrs... he will be the King of the United States of Obama )will be telling all of us peasant Govt workers.. the only jobs left.. that this is all the fault of Bush.. but he is fixing it.. but the mess was bigger than he thought.. and we should all be happy because we have Govt jobs.

Posted by: tbastian | June 4, 2010 3:40 PM | Report abuse

On Hungary:

"The centre-right government won elections in April by a landslide, gaining a two-thirds majority of seats and ousting the Socialists."

On Thursday, the ruling Fidesz party's vice chairman Lajos Kosa was reported online as saying that it had found the public finances in a much worse shape than previously expected and there was only a slim chance of avoiding a Greek-style crisis.

When asked about those comments, Orban's spokesman, Peter Szijjarto, told a news conference: "In Hungary the previous government falsified data. In Greece, they also falsified data. In Greece the moment of truth has arrived. Hungary is still before that."

He added: "This is exactly what we want to avoid, and this government is ready to avoid the path that Greece took. After realising what reality is, we will not hesitate to act."

http://www.guardian.co.uk/world/2010/jun/04/euro-sinks-hungary-debt-crisis

Posted by: tropicalfolk | June 4, 2010 3:42 PM | Report abuse

Horrible jobs report -- of those "jobs," the gov't census jobs are TEN TIMES the number of private jobs, and the Teleprompter says "the economy is getting stronger by the day."

There is strong evidence of clear-cut malfeasance regarding the administration and/or the administration's minions misusing official "clout" to manipulate the composition of what is supposed to be a democratic, unhampered election process (yes, you drones will say "business as usual," give us ONE EXAMPLE of this to prove it's "typical Washington 'sausage-making' business-as-usual politics."

The oil continues to spill and Obama continues with the ineffectual posturing and preening and politicking and shows us just what "unqualified" really means.

And the list goes on and on....

And there are still those absolutely Stepford Wives -like drones out there trying to blame Bush and giving their false idol an unconditional pass. What is up with that?

Posted by: finsher771 | June 4, 2010 3:43 PM | Report abuse

Hard to believe with inflation, unemployment, the looting of the treasury, takeover of private industry, lack of oversight in the oil spill, corruption, bribery, union payoffs, big corporation bailouts bank bailouts, the heath care sham, the failure of public schools, cap and trade, attempting to squelch the first and second amendments,public school indoctrination, border security, plans for amnesty, climate change scam, alienating our allies while kow towing to Muslim extremist and every tin pot dictator... that Obama still has any supporters.

One thing is for sure, liberals are loyal to a serious fault.

Posted by: Straightline | June 4, 2010 3:45 PM | Report abuse

Obama is dreamy, we should put him on a magazine cover or something.

Posted by: permagrin | June 4, 2010 3:45 PM | Report abuse

If Obama had just left the economy alone, we would already be on the upswing. Instead, programs like Cash for Clunkers, massive nationalized healthcare, and bailing out the UAW -- er, sorry, "General Motors" have done nothing but explode the deficit and sell our future to the Chinese.

But hey, he sure gives a great interview about basketball, doesn't he?

Posted by: zippyspeed | June 4, 2010 4:01 PM | Report abuse

Wow I wish the Right Wing would get moving and ask their masters in the private sector to start hiring. After the BP spill, EVERYONE now realizes what a farce the private sector is and how important big government is.

Posted by: unpluggedboodah | June 4, 2010 4:02 PM | Report abuse

It's hilarious to watch the Right Wing scream about small government, and then blame the government whenever anything goes wrong. I guess when you've sold your soul to your masters in the private sector, it makes it difficult to criticize them when they refuse to hire.

Posted by: unpluggedboodah | June 4, 2010 4:06 PM | Report abuse

Yawn.

Did anyone really expect anything different?

Posted by: veerle1 | June 4, 2010 4:09 PM | Report abuse

It's funny how the Right Wingers refuse to look for jobs because they'd rather spend 24 hours a day screaming at Obama on a message forum for not finding them a job. I pray for the day when Obama rounds up Right Wingers and ships them to Guantanomo like the terrorist pieces of garbage they are.

Posted by: unpluggedboodah | June 4, 2010 4:10 PM | Report abuse

Barry says his recovery is headed in the right direction. Well, it does fulfill his agenda to weaken this Nation. So, yeah, to Barry his agenda is being accomplished, the destruction of America. That is his intent.

Elections of 2010 & 12 Cannot Come Soon Enough !!

Posted by: FraudObama | June 4, 2010 4:12 PM | Report abuse

unpluggedboodah

Why so angry? Your party is in power and owns this mess, entirely. The Socialist Party of Deceit is in the White House and controls Congress. Yet you are angry. You should be jubilant. Party the night away like your Precious. You know, for the First Time You Are Proud of Your Country.

Elections of 2010 & 12 Cannot Come Soon Enough!

Posted by: FraudObama | June 4, 2010 4:16 PM | Report abuse

I particularly like how the Right Wing tries to blame European market problems on Obama. What a group of racist redneck r etards, thank God the American voters threw them out on the street.

Posted by: unpluggedboodah | June 4, 2010 4:17 PM | Report abuse

"this was the moment when the rise of the oceans began to slow and our planet began to heal"

What an Idiot.

LOL !

Posted by: FraudObama | June 4, 2010 4:19 PM | Report abuse

Angry? lol on the contrary, I love watching you idiots drool all ouver yourselves screaming at Obama. I love that you keep promising great success but then are consistently denied. I love your racism, your utter lack of ideas/leadership and your impotency.

For the record, Obama's term has been the best year and a half of my life. I've increased my wealth tenfold under Obama, as many hardworking people have. You probably could too, if you'd stop screaming long enough to look for a job.

Elections of 2010 & 12 Cannot Come Soon Enough!
Elections of 2010 & 12 Cannot Come Soon Enough!
Elections of 2010 & 12 Cannot Come Soon Enough!
Elections of 2010 & 12 Cannot Come Soon Enough!
Elections of 2010 & 12 Cannot Come Soon Enough!
Elections of 2010 & 12 Cannot Come Soon Enough!
Elections of 2010 & 12 Cannot Come Soon Enough!

Posted by: unpluggedboodah | June 4, 2010 4:22 PM | Report abuse

ENOUGH ALREADY! Here comes the second dip of a double dip recession. With 95% of the paltry few jobs created being government jobs, mostly census workers, it is now painfully obvious to any fair minded and objective observer, the Obama economic recovery plan is a complete, total, dismal failure. The stimulous did NOTHING but bury us in more debt. Health reform has done NOTHING but scare business and retard growth. The housing market continues to go down the drain. When will people wake up and realize, that everything Obama has been taught at Columbia and everything he believes about economics is WRONG. Here comes the second wave...

Posted by: physicianexec | June 4, 2010 4:23 PM | Report abuse

unpluggedboodah

No, you're not angry.

LOL !

Posted by: FraudObama | June 4, 2010 4:24 PM | Report abuse

Its looking pretty bad for the One.

George Soros' money can't save Obama. The mainstream media is turning on him too as the oil in the Gulf continues to gush. Unpluggedboodah and drindl have nothing but the "racist redneck" card to throw around. (Get off the computer and make my latte, guys)

"Its All Bush's Fault" isn't working, either.

Guess a "national emergency" that cancels the November election is the only thing he's got left.

Posted by: RaiderDan | June 4, 2010 4:30 PM | Report abuse

It's so great watching Right Wingers scream at Obama and lose more ground in their quest to regain power. I can't to vote Obama again in 2012 and watch the Right Wing zit-heads pop by the thousands.

Posted by: unpluggedboodah | June 4, 2010 4:32 PM | Report abuse

"Posted by: RaiderDan | June 4, 2010 4:30 PM | Report abuse"

lol it's funny when a Raider Fan chimes in like his opinion matters.

Posted by: unpluggedboodah | June 4, 2010 4:34 PM | Report abuse

Yep, Obama is in deep trouble. After all, his approval rating is the same its been for six months. Once again the pathetically desperate Right Wing Noise Machine lies and attempts to pretend they've made gains. zzzzzzz

http://www.gallup.com/poll/113980/Gallup-Daily-Obama-Job-Approval.aspx

Posted by: unpluggedboodah | June 4, 2010 4:36 PM | Report abuse

liveride:

I know it's painfully mind twisting for nitwits like you to try and wrap your minds around, but gas prices are based on supply/demand (and yes, what the market will bear) so when gas prices go down it usually means that general economic conditions are poor, and when they go up, it means that the economy is doing well. Now here's where I'm really going to blow your mind: that means that you should be hoping that supply/demand (as opposed to, for example, some artificial tax) drives gas prices back up, because it will mean that those who sell gas think that people can afford to pay more.

There was one exception, that was when the Saudis (and others) engineered low oil prices after the Gulf War to show their appreciation for what the U.S. had done for them. President Bill Clinton enjoyed the credit for the economic benefits that these artificially low energy prices brought to our (the U.S. economy). I remember buying gas on a trip through Ohio in 1995 (or '96) for 69 cents a gallon; I did some simple math, and this basically meant that at that time, we were paying less than 1/2 as much for gas as my parents did when they were teenagers in the 1950's. Of course, eventually the Saudis gratitude wore out and they went back to "what the market will bear" pricing, which is also entirely appropriate and fair.

Posted by: pyellman | June 4, 2010 4:37 PM | Report abuse

I guess the 'Scream at Obama' strategy isn't working very well for the Right Wing

http://www.gallup.com/poll/113980/Gallup-Daily-Obama-Job-Approval.aspx

Obama's numbers same as they've been for six months

Posted by: unpluggedboodah | June 4, 2010 4:39 PM | Report abuse

Recall the Bush Administration attempting to privatize Social Security so Seniors could invest their pensions in Wall Street. Imagine where that would have left them after the stock market's four-year implosion; broke and helpless. And now the GOP wants to regain power? Get real.

Posted by: JONWINDY | June 4, 2010 4:43 PM | Report abuse

Yes sir, Obonehead is focusing on jobs with laser-like precision. Hope and change suckers.

Posted by: theBozyn | June 4, 2010 4:47 PM | Report abuse

I guess the 'Scream at Obama' strategy isn't working very well for the Right Wing

http://www.gallup.com/poll/113980/Gallup-Daily-Obama-Job-Approval.aspx

Obama's numbers same as they've been for six months

Posted by: unpluggedboodah | June 4, 2010 4:51 PM | Report abuse

I want to hear a lot more about Sestak and and these conflicting stories. Sounds like Chicago dirty politics. I have seen both house under Obama lie and bribe so I can't take him at his word.

Posted by: farmsnorton | June 4, 2010 4:52 PM | Report abuse

I don't care what a bad jobs report means to Wall Street. All I care about is people working for the census now won't be in a short while. I've been hearing great job tips on an internet radio show, www.jobtalkamerica.com

Posted by: kcsam215 | June 4, 2010 4:53 PM | Report abuse

Is it me or do we need to start impeachment of Obama while we still have a country ?The man has been doing nothing but partying since he got in office.Last night he partied with "sir Paul" while animals were dying in the gulf.What kind of leader shows that kind of detachment and lack of sympathy buy having good times while so many are suffering ?Case closed!!!!!

Posted by: votingrevolution | June 4, 2010 4:55 PM | Report abuse

How could this be? The stimulus has fixed all our problems. The worst is behind us we have been assured by his incompeteness the ONE, the exalted Mr. Obama. What a joke. We and the world are in bad shape now and getting worse due to the excesses of worldwide socialism.

Posted by: Hairless | June 4, 2010 4:56 PM | Report abuse

I guess the 'Scream at Obama' strategy isn't working very well for the Right Wing

http://www.gallup.com/poll/113980/Gallup-Daily-Obama-Job-Approval.aspx

Obama's numbers same as they've been for six months

Posted by: unpluggedboodah | June 4, 2010 4:57 PM | Report abuse

It is incredibly entertaining as well as terribly disheartening to see the posts by the liberal "open minded free thinkers" (I know, I know, an oxymoron) who are incapable of believing their own (apparently) lying eyes in regard to our immature, unqualified and *narcissistic Great Leader.

*Diagnostic Features:

Narcissistic personality disorder is a condition characterized by an inflated sense of self-importance, need for admiration, extreme self-involvement, and lack of empathy for others. Individuals with this disorder are usually arrogantly self-assured and confident. They expect to be noticed as superior. Many highly successful individuals might be considered narcissistic. However, this disorder is only diagnosed when these behaviors become persistent and very disabling or distressing.

Complications:

Vulnerability in self-esteem makes individuals with this disorder very sensitive to criticism or defeat. Although they may not show it outwardly, criticism may haunt these individuals these individuals and may leave them feeling humiliated, degraded, hollow, and empty. They may react with disdain, rage, or defiant counterattack. Their social life is often impaired due to problems derived from entitlement, the need for admiration, and the relative disregard for the sensitivities of others. Though their excessive ambition and confidence may lead to high achievement; performance may be disrupted due to intolerance of criticism or defeat. Sometimes vocational functioning can be very low, reflecting an unwillingness to take a risk in competitive or other situations in which defeat is possible.

Sound like anyone we know?

Posted by: jfsf2 | June 4, 2010 4:57 PM | Report abuse

"How could this be? The stimulus has fixed all our problems. The worst is behind us we have been assured by his incompeteness the ONE, the exalted Mr. Obama. What a joke. We and the world are in bad shape now and getting worse due to the excesses of worldwide socialism.

Posted by: Hairless | June 4, 2010 4:56 PM | Report abuse "

Worldwide socialism caused the BP spill? Worldwide socialism caused the banking collapse? Another idiotic opinion from the idiotic Right.

Posted by: unpluggedboodah | June 4, 2010 5:03 PM | Report abuse

I guess the 'Scream at Obama' strategy isn't working very well for the Right Wing

http://www.gallup.com/poll/113980/Gallup-Daily-Obama-Job-Approval.aspx

Obama's numbers same as they've been for six months

Posted by: unpluggedboodah | June 4, 2010 5:04 PM | Report abuse


ARE DEMOCRATS REALLY THIS DUMB TO THINK THAT THE PEOPLE WON'T UNDERSTAND THE NUMBERS?


June 4 (Bloomberg) -- American companies hired fewer workers in May than forecast and workers dropped out of the labor force, indicating government support is still needed to spur economic growth.

Private payrolls rose by 41,000, Labor Department figures showed today, trailing the 180,000 gain forecast by economists. Including government workers, employment rose by 431,000, boosted by a jump in hiring of temporary census workers. The jobless rate fell to 9.7 percent from 9.9 percent

Posted by: charlietuna666 | June 4, 2010 5:06 PM | Report abuse

What would you expect. Years into this unending recession, and after the federal government bailed out the banking/credit card industry to the tune of trillions, and continues to subsidize these industries with near 0% financing from the Fed, the financial industry continues to rip off consumers with 20-30% interest on consumer debt, even on those customers that consistently pay their bills on time.

You cannot kick start a recovery while the financial sector is robbing consumers and small buisness in the most unethical way imaginable.

This is no way to run an economy.

Oh, and did I mention somebody forgot to implement the massive jobs program required in this economic environment.

Posted by: inojk | June 4, 2010 5:06 PM | Report abuse

Obama was jumping up-and-down today, at his economic genius in foreseeing the job creation of Census Temp employees!

Posted by: theaz | June 4, 2010 5:07 PM | Report abuse

Do you think BP would have chosen to drill 5000 feet below the surface of the Gulf if our proven oil reserves on land were available? Does our government deferring to the environmental extremists have some culpability in the disaster we are all being subject to? Come on folks, our misguided "leaders" are flushing us (U.S.) down the toilet and some people only continue to play Democrat vs. Republican as if this was merely a high school football game, rah, rah for my team!

We will only begin to emerge from this pitiful period in our history when we realize we are all on the same team and hold these politicians feet to the fire, no matter what party affiliation they happen to be. We must demand these elected officials do what they promised to get elected not give them a pass determined on whether they have a "D" or "R" behind their name...

Posted by: jfsf2 | June 4, 2010 5:09 PM | Report abuse

Obama blasted BP today for planning a dividend of "10-25 billions." The guy can't be that ignorant. He must be hoping to mislead Americans who don't know better. Thank God only two more years are left!

Posted by: suegbic1 | June 4, 2010 5:12 PM | Report abuse

So tell me: Are there still idiots out there who still believe massive tax increases and reckless government spending will cure our economic ills? If so, get the nets and lets round these fools up before they get a chance to vote next November!

Posted by: vince33x | June 4, 2010 5:13 PM | Report abuse

Dear Obama Haters,

1. What was the state of the American economy in October 2008?

2. Which president signed the big bailout in fall 2008?

3a. What was the deficit in October 2008?

3b. What was the deficit in October 1999?

Essay question 1: Please explain how the Republican economic policies from 2000-2008 resulted in a thriving economy, balanced trade, and major deficit reduction.

Essay question 2: Please explain how we financed the wars in Afghanistan and Iraq.

Neatness does not count. However, lucidity and candor does.

Posted by: sidogood17776 | June 4, 2010 5:30 PM | Report abuse

Darn George Bush and Cheney!

They won't clean up their oil spill and now they made Wall Street crash again!

Posted by: ChicagoBob | June 4, 2010 5:31 PM | Report abuse

The market is a poll, it just expressed 'No Confidence" in Obama and the democrats.....

Obama and the democrats are legislating a recession into a depression.

Posted by: georgedixon | June 4, 2010 5:35 PM | Report abuse

The economy is really turning around boy. That $787 billion jobs bill put people back to work alright. What a disaster we have for a president. It's going to take years to undo this mess.

Posted by: Atlanta1 | June 4, 2010 5:37 PM | Report abuse

What's blocking the recovery is the fact that the financial services sector forgot they are supposed to serve American business, not rob and destroy it.

Posted by: inojk | June 4, 2010 5:37 PM | Report abuse

US Debt Tops $13 Trillion & Increases $4.9 Billion a Day – 3 Times the Bush Average

Posted by: fury60 | June 4, 2010 5:38 PM | Report abuse

Welcome America to Chicago style politics.

Posted by: Atlanta1 | June 4, 2010 5:45 PM | Report abuse

"Markets fall to lowest level since..."

Get used to it. Obama has an other two and a half years before we can get rid of him.

At least we can get rid of the idiotic Democrats in 2010.

Posted by: TRUTHTELLER13 | June 4, 2010 5:49 PM | Report abuse

Your comment is being held for review by the blog owner.
=====NH:
Court rules web site owner is not shielded from liability for illegal acts by b:\log (tm pending) owner.
=====NH//

Posted by: randomsample | June 4, 2010 5:58 PM | Report abuse

Hi Sidogood17776,

You asked;

1. What was the state of the American economy in October 2008?

Who ran the House and Senate in 2007 & 2008?

2. Which president signed the big bailout in fall 2008?

Who presented this as the only way out of a recession? Had he not signed it people of your political persuasion would have condemned him for "doing nothing to stop the bleeding." (I agree Bush should not have signed it, for different reasons of course) but once again who has the authority to submit spending bills (Congress or the President?) Bush lost his spine in dealing with your Democrat Congress, that is definitely his fault.

3a. What was the deficit in October 2008?

About 1 trillion more than when the Democrats took over control (through Congress) in Jan. 2007 of our country's purse strings.

3b. What was the deficit in October 1999?

After 4 years of Republican control of Congress (way back when they actually delivered on promises of fiscal responsibility) Clinton and the opposition party were actually capable of working together for the common good of our country, at least in regard to finances. As far as National Security (Bin Ladin, etc.)is concerned, well that is another story. No side of the political aisle has a monopoly on good judgment, that is why the Founders put the onus of responsibility on the freedom loving citizenry. OPEN YOUR EYES BROTHER!

Posted by: jfsf2 | June 4, 2010 6:00 PM | Report abuse

Why won't that thing trend?


Posted by: blasmaic | June 4, 2010 6:04 PM | Report abuse

pyellman "nitwits like you" should realize the high prices of gas was not due to supply and demand, it was due to Energy Speculation by Wall Street Funds. If you kept up with the Facts you'd learn something. Energy Derivatives and Speculation should be limited to companies that actually need long term contracts for Oil and not Wall Street Commodity manipulators.

When Bush left Office Gasoline at the Pump was over $4/gallon and Oil companies were making Hundreds of Billions in Profits at Taxpayer expense. A Barrel was $147 and now it's closer to $75, but prices haven't dropped 50% because Oil companies are still Gouging consumers.

Lazy Complainers who have never served your country and spend all your day Crying and Whining for Obama and your Mama to make your life better would make me sick if I had time to cry and whine about someone else. Generally I'm too busy doing something constuctive. Make Military Service in the Middle East mandatory and you'll get off your Lead butt and do something constructive for your country instead of crying help me, help me mr president.

Suck it up and move on. Troops are dying in the field while you complain about the possibility of paying a bit extra in federal taxes to make our country energy Independent and Stop sending money to Terrorists.

Facts are facts; 99% of Americans pay less in federal taxes and less for Food and Gasoline that when Bush and Cheney were in office. We are all still subsidizing Oil, Coal and Livestock Pollution and that has to Stop.

Posted by: liveride | June 4, 2010 6:05 PM | Report abuse

Obama to pick Clapper for post

=====NH:
One of the advantages of having whom monitor your every keystroke? Read what who just completed. Hear the applause.

W. Hale,
Plaintiff
vs.
Comptroller of the Currency,
Defendant

The case of the kosher (halel) currency and the non kosher (haraam) transactions
The case of the kosher (halel) currency in the non-kosher (haraam) kitchen

Complaint:
What did you want to do that who would not let you do?

I wanted to keep my privacy, and pay a debt, and not cause anyone to sin in the process of doing so, but the defendant would not let me.

Grounds:
Why do you think you have the right to do what you want to do?

I think I have the right to do what I want to do, because of the first amendment of the US Constitution.

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof…

Requested remedy:
What do you want who to do so you can do what who won't let you do?

http://www.facebook.com/photo.php?pid=6115156&id=221881641426

Posted by: randomsample | June 4, 2010 6:07 PM | Report abuse

Time to buy stocks.

Posted by: sr31 | June 4, 2010 6:09 PM | Report abuse

The market fell/rose due to this/that. What a bunch of BS. Why do reporters repeat this nonsense? The stock market is one big crap shoot, and generally does not react to everyday news.

Posted by: adrienne_najjar | June 4, 2010 6:13 PM | Report abuse

"The economy is wobbly, but it is not THAT wobbly. Investors are nuts. They over react to every snippet of information."
-------
Down 327 points and only 41K jobs created! wobbly? I'd say it's more like cratered. Investors are simply reacting to the data and when there isn't alot of good news on the horizon, they react accordingly.

Posted by: rigoman33 | June 4, 2010 6:14 PM | Report abuse

Brownie-boy, you're doing a heckuva job.

Posted by: NoWayNotNow | June 4, 2010 6:14 PM | Report abuse

Goldfinger Suchs must be pushing too many buttons today.

Posted by: jacktar2001 | June 4, 2010 6:23 PM | Report abuse

I doubt that many in the financial community are dumb enough to spend much time listening to Robert Reich. The more interesting phenomenon is the split between the heavy weights within the financial community. Apparently Goldman Sachs is at the conservative end of the spectrum expecting slow growth in the second half of the year as a result of slowdown in the stimulus. Martin Feldstein and Robert Shiller are another two examples of people with differing political allegiances but solid credentials as economists who have both been gently warning of the potential for at least another slow down. Of course, the most obvious story is in stock prices themselves. They went from a year or so of being dramatically over sold to a year or more of bouncing back at an unsustainable rate. Only time will tell how they perform as they make their first significant tests of the durability of that recovery.

Posted by: dnjake | June 4, 2010 6:29 PM | Report abuse

farmsnorton: Hard to believe but Obama is out there bragging about the jobs report. What a phony this man is, and he is takiking the country apart piece by piece. NO jobs should make a big NO vote for democratic party.
----
Oh, please. If you were any more transparent in your hatred of Democrats and Obama, you could be a stand-in for Saran Wrap.

Posted by: nunovyerbizness1 | June 4, 2010 6:34 PM | Report abuse

Hard to believe but Obama is out there bragging about the jobs report. What a phony this man is, and he is takiking the country apart piece by piece. NO jobs should make a big NO vote for democratic party.

Posted by: farmsnorton
---------------------------------
Yeah, it's too bad we don't have Grandpa McCain and Sarah The Idiot running things.
We'd all be SO much better off if we had those "real common sense folks" in charge.

Posted by: cjbass55
-------
Quite so, and can you imagine yutzes like farmsnorton running anything but their mouths?

I think it's hilarious to read the comments of all the self-aggrandizing "experts" on here who know SO MUCH more than Obama and his team of advisers.

I wonder why the entire universe isn't beating a path to your doors, since you have ALL the answers. Why is that, exactly? Why, if you are SO fantastically adept at managing the economy you haven't been given a command to appear on the White House lawn to tell the entire world THE ANSWER to ALL our problems?

What a bunch of morons.

Posted by: nunovyerbizness1 | June 4, 2010 6:41 PM | Report abuse

Another reason to fire Obama's "experts" -- 48 days into this disaster, and yet Obama and Company are still relying only on BP to fix this. Why haven't they convened the best engineering talents from ALL oil drilling companies; compare notes; and see what other good ideas might be possible? One easy answer: Obama and his cohort have NO experience running ANYTHING, and such ideas just don't occur to them! They are useless academics, and worse, adademic ideologues. Useless...

Posted by: CREEBOLD | June 4, 2010 6:42 PM | Report abuse

we must keep economic indicators solid as we can to avoid the past economic crisis(www.facebook.com/helmy.elsaid)

Posted by: hlmelsaid761 | June 4, 2010 6:46 PM | Report abuse

control the stocks markets to avoid decrease levels(www.twitter.com/hlmelsaid)

Posted by: hlmelsaid761 | June 4, 2010 6:50 PM | Report abuse

Yet another nitwit: Another reason to fire Obama's "experts" -- 48 days into this disaster, and yet Obama and Company are still relying only on BP to fix this. Why haven't they convened the best engineering talents from ALL oil drilling companies; compare notes; and see what other good ideas might be possible? One easy answer: Obama and his cohort have NO experience running ANYTHING, and such ideas just don't occur to them! They are useless academics, and worse, adademic ideologues. Useless...
------
As if you're the epitome of insight. According to you, everyone in Obama's administration is just bumbling around blindly.

Could you BE any more ridiculous? There are no easy answers to this crisis. If there were, they'd be phoning you, because those are the only sort of "answers" you can comprehend or imagine.

Posted by: nunovyerbizness1 | June 4, 2010 6:56 PM | Report abuse

This is what happens when government money is given to banks who put the money into wall street instead of main street. Trading is almost completely dominated by large institutions and rich speculators. Wall street is now a giant casino almost completely divorced from the real economy. When the government money dries up, the market collapses like a row of close together dominoes. Until the connectivity between main street and wall street is once again established, the market will remain as is. It is now one big giant casino and the little guy wants no part of what is going on.

Posted by: gvelanis | June 4, 2010 6:58 PM | Report abuse

The community organizer is doing wonders for the economy just like he cleaned up Chicago. Reality sux, eh libs?

"IMAGINE A WORLD FREE OF LIBERALS"

Posted by: cschotta1 | June 4, 2010 7:11 PM | Report abuse

The stocks really got BPeed today. Just like Benjimin Netanyahu had the Jewish GESTAPO assutlt stocks.

Posted by: laurelphoto | June 4, 2010 7:28 PM | Report abuse

Those census gigs aren't real jobs. They aren't steady employment which allow the holder to actually support a family. In fact, People could just file their data on line. And who cares anyway

Posted by: WindLessBreeze | June 4, 2010 7:29 PM | Report abuse

but obama said President Obama says the addition of 431,000 jobs in May proves "the economy is getting stronger by the day."


LOLOLOL WHEN IS THE FN IDIOT USURPER GOING TO STOP HIS LYING LOLOLOL

ITS TIME TO VOTE THIS SORRY STAEMING PILE A CRAP OUT OF OFFICE !!!

Posted by: yourmomscalling | June 4, 2010 7:34 PM | Report abuse

Some "recovery". Obama is an arrogant imcompetent fraud.

And don't you just love how the "Useful Idiot" liberal morons are still blaming Bush?

Posted by: jimd3 | June 4, 2010 7:40 PM | Report abuse

jimd3, are you really that stoopid or just a right-wing brainwash?

Posted by: BigTrees | June 4, 2010 7:58 PM | Report abuse


Obummer DOESN'T WANT to help 'fix' the Gulf.

The WORSE it becomes, the BETTER it is for his MARXIST aims of commandeering all of industry so as to REGULATE it on the theory that government can do it better than they can.

THAT after virtually FORCING the oil companies into the DEEP GULF because GOVERNMENT prohibited them from drilling ANYWHERE ELSE while simultaneously SHAKING DOWN the company for BRIBES to get an environmental PASS on the safety requirements. (today's wapo)

Ba-roke wants "Social Justice" for all. In his sick world the CEO will make as much as the grunt...except, of course, for him and his. Healthcare will be free for all...though rationed...except, of course, for him and his. The air and the waters will be clean and pristine to enjoy.....if you could only get a government permit for time off....except, of course, for him and his.

The current economic catastrophe is virtually ENTIRELY caused BY BIG GOVERNMENT which actually enabled the fraudsters like GOLDMAN by presenting them with such an OPPORTUNITY their larcenous little hearts could not pass up. If they lost money they knew that YOU would pick up the tab because they were too big to fail and if they made money then the bonuses would be even more obscene.

Government created, THEN DESTROYED Glass-Stegel. Government (Bawney, Chris) allowed the no-docs and the liar's loans. Government believes YOU ought to pay for THEIR mistakes.

Obambi can't be bothered. He's too busy playing golf and offering sinecures to wannabe pols who might threaten his homeboys in the Senate. Yeah, he's gonna work hard to get the SLEEZE out of Government.


SO, WHO'S THE BAD GUY?

OilybamaOilybamaOilybamaOilybamaOilybamaOilybamaOilybamaOilybamaOilybamaOilybamaOilybamaOilybama

Posted by: notinde | June 4, 2010 7:58 PM | Report abuse

jimd3, are you really that stoopid or just a right-wing brainwash? You should be happy in the republican crime syndicates engineered world. No regulation. No oversight/ No accountability. After 40 years you right-wingers should be happy with what your big-business-first-last-and-always philosophy has built. You live in a neo-conservative demi-democratic shadow land, just like Ronald Reagan wanted.

Posted by: BigTrees | June 4, 2010 8:01 PM | Report abuse

jimd3 :
"And don't you just love how the "Useful Idiot" liberal morons are still blaming Bush?"

Yeah, and don't you just love how the "Useful Idiot" conservative morons still won't admit that most of most this started under Bush's watch?

Posted by: presto668 | June 4, 2010 8:06 PM | Report abuse

Heckuva job, Oboobma!

Posted by: thebump | June 4, 2010 8:07 PM | Report abuse

it is absolutely amazing that right-wingers forget their last administration was led by two oil men. Our public energy policy was a Dick Cheney in secret oil company laugh fest. Now you blame someone else. That is so right-wing.

Right-wingers have been driving this society, usually with a whip, for all but six years since 1968. Now you don't like it. Okay, jerkwads, change it.

Change your party. Change your philosophy. Change your leadership. Grow up and get educated. Be adults for a change. Bring ethics back to the right. Bring back, truth, justice and the real American way.

I don't have a single bit of hope you guys can do that. You will continue to follow a drug-induced surrealism touted by Limbaugh, a hate-filled rage screamed by Bachman and the same anti-American sentiment enshrined by McConnell, McDonnell, Boehner, Gingrich, DeLay and other America haters.

We are witnessing the death of the last great democratic society and it was our own right-wingers that killed it, just as right-wingers have destroyed free societies throughout history. Sad that our final symbol was a pelican felled by "Drill, baby, drill."

Posted by: BigTrees | June 4, 2010 8:10 PM | Report abuse


Can I buy stock in the U.S. Census Bureau?

They must be doing well. They're the only ones hiring.

Posted by: WylieD | June 4, 2010 8:19 PM | Report abuse


...and my sensors indicate Wall Street needs to be dissolved and a new investment system needs to be developed...

...because Wall Street USA is choking the life out of Main Street USA...

...and it could care less...

...Mr. President, tear down that wall...


Posted by: moon-base-alpha | June 4, 2010 8:22 PM | Report abuse

liveride:

Jackasses like you need to avoid putting words in others mouths.

First of all, your blather about derivatives being the controlling factor in the price of gas is conspiratorial nonsense. Gas prices are, by and large, driven by supply and demand. Speculation may have some effects on when the price changes are felt "at the pump", but it does not alter the basic equation. As to why oil could drop by ~50%, and gas might take less of a drop, that one is a no-brainer (at least for me): gas has to be refined from oil. If wheat drops by 50%, does a loaf of bread have to drop exactly the same amount for it not to be a conspiracy.

Another thing: I don't know exactly how many billions in profits oil/gas companies made in the time period in question, but it was not "at taxpayer's expense, it was at gas user's expense. By your logic, everything is "at taxpayer's" expense.

But the real point of this rebuttal is that you, without any reason at all, claim that I am "complaining", when in fact, I was only ridiculing your complaining -- about gas prices during George Bush's presidency.

Attributing current prices at the pump to anything Obama has done is the very height of silliness.

And facts are facts: prices of goods on the shelf are basically stable going back quite a few years. You are plain wrong about that. The prices of some goods have declined somewhat. Once again, wrap your mind around this: that's not necessarily a good thing. It means that people have less money to spend. Is this too complicated for you? Do you honestly believe that somehow, Obama has engineered a beneficial drop in the price of a gallon of milk from $3.79/gallon to $2.89 a gallon? Are you completely ignorant of basic economics.

You may be right that so far, we have not been subjected to any significant additional tax burden due to any specific Obama policy or law. But you are truly too far gone to reason with if you do not understand why: it's because we are borrowing vast amounts of money, ya know?

Posted by: pyellman | June 4, 2010 8:23 PM | Report abuse

The same Jewish thugs who involved America in 3 wars now and want involve America in a fourth war are allowed to commit unprecedented financial fraud bankrupting us.

Interesting that Goldman Sachs sold off a huge BP share package one weak before the accident in the Gulf, not they had knowledge about it, they are allowed to date those trades back!

Wake up and take the country back by extraditing the Jews or at least put them on an island.

Posted by: holocaustgaza | June 4, 2010 8:25 PM | Report abuse

'Hard to believe but Obama is out there bragging about the jobs report. What a phony this man is, and he is takiking the country apart piece by piece. NO jobs should make a big NO vote for democratic party.'
Posted by: farmsnorton

And a YES for the Conseravtive party? Sue Lowden, the casino owner who suggests bartering for health care? Rand Paul, the retro man who believes pre-1860 were the good ole' days? Sarah Palin, the money-hungry populist who retains the utmost confidence in BP? Please.

Posted by: jimsillan | June 4, 2010 8:42 PM | Report abuse

If you truly want to know what is going on; Then you will have to accept these things as the TRUTH. Once you understand the following things; All things will be understood. So I tell you Obama is the Anti-Christ, Satan on Earth, Lawless One, or what ever else you want to call this Demonic Figure. His words describe him, He is a False Hope, If you listen to him you will love him. He carries a Bow without an Arrow. He will conquer all through his speech, his false hoods will capture all who sit and listen to him.

Posted by: makom | June 4, 2010 9:16 PM | Report abuse

pyellman you and your Mama are the Jackass. Ignorant Fools Like You jump Up to get Intellectually Beat Down.

http://themoderatevoice.com/25580/wall-street-blamed-for-high-gasoline-prices/

Suck on that Jackass.

Posted by: liveride | June 4, 2010 11:30 PM | Report abuse

Get off your Lard Butt and enlist for Middle East duty and serve your country instead of trying to propagate ignorance and argue against creating Clean Energy jobs for returning Veterans and everyone look for work in something other than sucking oil out of the ground. I'm sure in your mind Enron "smartest guys in the room" are your mothers milk.

" supply and demand doubled from $69 a barrel to nearly $150, and then, in a period of just three months, crashed along with the stock market. So what happened?"


“Approximately 60 to 70 percent of the oil contracts in the futures markets are now held by speculative entities. Not by companies that need oil, not by the airlines, not by the oil companies. But by investors that are looking to make money from their speculative positions,” Gilligan explained.
Gilligan said these investors don’t actually take delivery of the oil. “All they do is buy the paper, and hope that they can sell it for more than they paid for it. Before they have to take delivery.” “They’re trying to make money on the market for oil?” Kroft asked. “Absolutely,” Gilligan replied. “On the volatility that exists in the market. They make it going up and down.”

Posted by: liveride | June 4, 2010 11:36 PM | Report abuse

The USA with 5% of World Population currently uses 25% of the world’s Oil while we have only 2~3% of it. No amount of domestic drilling will adjust that number even a percentage point or have any effect on the price of Oil on world markets as Gulf Coast Drillers enjoy both Public Subsidies and Tax exempt status as the Oil is sold on the Open market.

What will have the greatest effect on Reducing USA Dependence on Oil is “Using a Lot Less” of it by;

• Ending Wall Street Energy Derivative speculation;
• Improving Transportation Efficiency;
• Producing Domestic Biofuels;
• Developing Freight Rail (such as along the I-81 corridor);
• Enacting a Feed-In-Tariff for Wind, Solar, Biofuel, and Biomass;
• Enacting a strong Renewable Energy Portfolio Standard of 25% by 2025,
• Pricing Carbon from Large Scale Polluters
• Decoupling Energy Utility earnings from increased Sales

These actions provide the greatest Bang-for-the-Buck for Energy Jobs and Investment without sacrificing other Multi-Billion dollar industries and White Sand beaches.

Remember when JOBS was our biggest issue? Well it still is for Millions of Americans.

In 2009 The United States used over 17 Million Barrels/day, produced 5.1 million barrels/day domestically, and imported 12.4 million barrels/day (over 60 percent), of which 6 Million Barrels/day come from the Middle East (OPEC). Our dependence on Oil is funding Terrorist organizations and reliance on Coal is Poisoning the Communities and Water where it’s mined, transported and burned.

USA Taxpayers are paying Hundreds of Billions Right Now for Health and Environmental damages caused by Oil, Coal and Livestock industries pollution. Make these Medieval Robber Barons pay Their Rightful Share for the Pollution they cause and it will Improve our both Economy and National Security.

USA Taxpayers cannot Afford to keep Subsidizing Oil, Coal and Livestock Industry Pollution.

Posted by: liveride | June 4, 2010 11:42 PM | Report abuse

liveride: pointing to someone else's words doesn't prove anything about your own intellectual capabilities; in fact, it makes you look weak.

If you think that the "speculators" are "cashing in" on the volatility of oil prices (now there's a dunce's psalm), then teach 'em a lesson: bet against them, and TAKE their money. 'Cause that's all futures are, is one person betting against another. For every person or dollar spent betting that oil prices will be up in 3 months, there was a seller who thinks otherwise. Once again: too complicated for you, or are you just going to point me to another person's words again?

And what's with this constant, raging demand that other people sign up for military service? If you are a vet, you need to back to the VA Hospital for some psych treatment, because you are not healthy.

Posted by: pyellman | June 5, 2010 12:41 AM | Report abuse

liveride:

PS, why would an oil company be the appropriate entity to by oil contracts? I mean, can you explain it without going too far down a rabbit hole of conspiracy?

Posted by: pyellman | June 5, 2010 12:47 AM | Report abuse

Wall Street should not have the ability to manipulate the Price of Oil, Wheat and other commodities. That gouges Consumers and hurts legitimate businesses such as Airlines and Farming companies that need stable prices. When Gasoline reached $4~5/gallon at the Pump it was not to due supply and demand; it was Energy derivative speculation of Banks and Investment Funds. Any derivatives related to Commodities should be regulated by the “Commodity Futures Trading Commission”.

We need “Public Exchanges” for Trading of Derivatives, Swaps, CDOs and other financial instruments and “Clearinghouses” for the confirmed transfer of funds.

We must stop allowing Banks that receive Federal Discounted Interest Rates to place risky bets with customer money that is Protected by Federal Deposit Insurance. Separate Banks from Investment Funds and Speculators (i.e. Gamblers). Remove these Derivative Trading Casinos from Tax Payer Protection!!!

We need Consumer Protection and Regulation agencies with clear lines of responsibility. Commodities-based swaps and derivatives should be subject to Commodities laws. Financial Securities should be regulated by the Securities and Exchange Commission.

We must END the Lack of Regulation and Transparency of Derivatives, Credit Default Swaps, CDOs, and Credit Rating Companies that caused Global Economic crises and the loss of Millions of Jobs, Homes, and Businesses.

As for Jobs:

We must end Bush era $2 Trillion in tax cuts for the most wealthy and Tax Large Scale (Oil, Coal, Livestock) Polluters and Imported Oil.

I would rather pay taxes to create Jobs in New Industries than subsidize Oil, Coal and Livestock Pollution which is what we are all doing right now.

Posted by: liveride | June 5, 2010 4:29 PM | Report abuse

OBAMA IS A MUSLIM WHO HATES THE USA

THERE IS NO OTHER EXPLANATION FOR HIS ACTIONS


June 4 (Bloomberg) -- President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a “debt super cycle.”

Posted by: charlietuna6661 | June 6, 2010 8:32 PM | Report abuse

OBAMA IS A MUSLIM WHO HATES THE USA

THERE IS NO OTHER EXPLANATION FOR HIS ACTIONS


June 4 (Bloomberg) -- President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a “debt super cycle.”

Posted by: charlietuna6661 | June 6, 2010 8:33 PM | Report abuse

What do the "rational" markets want? All and everything as it is usual. Their supposed responsability is only to ask for the best for them. Their real lack of trascendent rationality makes them to be unfit for any consistent analysis.

Let's see. Pressing for any kind of actions trying not to lose money by any possible sovereign unpaid debt return. And asking for at the same tinme any kind of action for growing to be safe. No matter both approachs were openly contradictiory specially in times when the productive private sector is weak and the financial one too much strong for it.

How rational beings can make finally an irrational monster? Trascendent irrationality. Rational behaviour of componentes has not to be inherited by the mix called markets.

Posted by: Vercinget333 | June 7, 2010 7:25 AM | Report abuse

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