Shouldn’t somebody, you know, do something?

Because what we’re doing is clearly not working:

WASHINGTON — U.S. employers shed more jobs in September than had been expected, according to two closely watched surveys, released Wednesday, that cast a shadow over the government’s official September jobs report, which is due Friday.

Private non-farm payroll employment fell by 39,000 jobs last month, according to the ADP National Employment Report. That was somewhat surprising, because the consensus forecast of mainstream economists had called for a gain of about 20,000 jobs.

“I think this is a disappointing result,” said Joel Prakken, the chairman of Macroeconomic Advisers, which crunches payroll data to issue the monthly report. “Economic growth slowed pretty much in the middle of the year … and we think the fourth quarter is going to be a quarter of slow economic growth.”

4 thoughts on “Shouldn’t somebody, you know, do something?

  1. This useful report is the result of global economic crisis. What is the main source of problem ? Every clever management of company´d like to save up some savings. But on the other hand, the management forgets on a flexible working market, which presents a development of economy. I hope that next months will see an increase of employment.

  2. Suze, when you say like, um, “DO” something, do you really mean that the current regime should actually use its executive authority that was mandated as a result of an overwhelming voter turnout in 2008 to “CHANGE’ the ‘business as usual approach’? Ya gotta be kidding!

  3. The IMF projected 4.8% global growth this year, slowing to 4.2% next year, in a two-track world, with emerging economies seen climbing 7.1% and advanced economies growing just 2.7% in 2010. In July, the IMF forecast 4.6% global growth this year and 4.3% growth in 2011.

    For the United States in particular, the IMF is forecasting 2.6% growth this year and 2.3% growth in 2011, a downward revision of 0.7% in 2010 and a cut of 0.6% for 2011.

  4. OT, but infuriating: The House and Senate have passed a Repub sponsored bill which will, per this post at Corrente, result in the banksters’ nice little foreclosure fake papers being considered A-OK.

    Essentially, what is happening is that the banksters have been having great difficulty in local and state courts showing that they actually have the legal right to foreclose on homes. This is because in the past three decades of mortgage securitization, the simple paper work filed with local court clerks showing who owned the mortgage, was effectively undermined by the increasing complexities and intricacies of the financial derivatives created for securitizing mortgages. In effect, Wall Street’s funny money games destroyed the record keeping necessary for a fair and free market based on property rights. Quelle surprise!

    To overcome this major legal hurdle, the banksters have simply been forging the documents required by the courts. Just outright forging the documents! Florida Congressman and progressive firebrand Alan Grayson a few days ago released a video, one scene of which shows not two, not three, but SIX different examples of a forged signature of a lending officer.

    This has been in the works since HR 3808 was introduced by Rep. Robert Aderholt, R-AL-4, on 10/14/2009.

    The link takes you to the post; in my comment (currently 2nd) is the chronology of the bill (passed by voice vote in the House, unanimous consent in the Senate) and a link to Sen. Casey who asked it be passed by unanmious consent. Email contact at his link, plus all his offices’ phone numbers.

    It was sent to DINO Obama on 9/30 — What Obama does with it (VETO WOULD BE GOOD, sir) will be another indicator of his true approach to governing. Call, email, do what you can to keep this from becoming law. ASAP would be best.

    If the Dems want to override a veto on this, NOTA them all!

    As Yves Smith wrote, “…the problem is that these solutions will be depicted as “efficient,” just as securitizations and other “innovations” were.”

    What’s a little illegality among banksters and their bought and paid for pols?

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