CHESSNOID

Our media puts out many reports that often conflict with each other. Our politicians in office try to spin the reports in a positive light.  They know what happens on their watch is what the American people will hold them accountable for.  The problem in solving problems in general is that you have to acknowledge there is a problem before you can work on an effective solution.

I believe our economic problems will continue to get worse because both the media and the Obama administration and most of Congress and the Senate claim things are already getting better.  The BLS U-6 number is at 17.5% which is the highest ever since the Great Depression.  That means we have almost 30 million people who need jobs and can’t get one. That will eventually translate into more foreclosures, more homeless, and more strain on all our social services.  The 30 million people and their families know the truth and the government needs to take real action.

NEW YORK (Fortune) —

It’s time to stop glorifying our economic doldrums with this “jobless recovery” nonsense.

Yes, the economy did grow in the third quarter, for the first time in a year. Fewer Americans are filing new claims for unemployment insurance, and giant financial institutions appear less apt to collapse and send us into another stupor. The stock market has recovered much of its winter decline.

But so far there is no sign of an employment turnaround — and without one, and soon, all the other gains could prove fleeting.

The U.S. has lost jobs in 22 straight months, and Friday’s news that 10.2% of the labor force is out of work — the highest reading since 1983 — shows just how far we have to go.

Without better job prospects, the consumers whose spending makes up the lion’s share of economic activity will remain tightfisted. That will slow the healing of deep wounds in the housing and financial markets.

“To have a real recovery you need to put people to work,” said John Harrington, who runs Harrington Investments, a socially responsible asset management firm in Napa, Calif. “Right now we aren’t doing that.”