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Jobless Claims Rise by 38,000. “No Problem.”

Written by Gary North on February 1, 2013

The recovery is A-OK.

Did jobless claims rise by 38,000, to 368,000 last week? Yes. No problem.

The total number of people claiming benefits in all programs for the week ending January 12 was 5,914,983, an increase of 255,501 from the previous week.

No problem.

Did GNP fall in December? Yes. No problem.

How do I know there is no problem? Because Harry Reid says so.

Just a brief comment on my friend, the Republican leader’s, statement. He continues bad-mouthing the recovery. We are in a recovery.

Yes, growth slowed in the fourth quarter. Why? Republicans.

The moral of the fourth quarter is a repudiation of the Republican playbook. Growth went down in the fourth quarter because of reduced government spending, and a reticence in the private sector as government fought over the fiscal cliff. And that fight came as a result of the Republicans being so unreasonable. … The economy was rejecting the austerity and brinkmanship… The Republican playbook of continually complaining about spending is something — we know we have to do something about spending, we understand that, but there’s more to making our economy recover than just continually harping on what’s going on with spending. …We also have to do something to have a fair program. … Is it fair that the Republicans continue to want to go after Social Security, Medicare, even food stamps, that benefits the poorest of the poor, let’s start talking about fairness.

Government spending increases economic growth. Harry Reid says so. John Maynard Keynes said so. Obama says so. Bush said so. How could they all be wrong?

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9 thoughts on “Jobless Claims Rise by 38,000. “No Problem.”

  1. Both houses talk of spending cuts then send millions of $ to Egype in F16's and tanks, a country sworn to defeat the US

  2. "Sworn to defeat the U.S."???? Are you nuts? When did they ever "swear" to do that? We've bought them off for 30 years so they would stop supporting the Palestinians and play nice with the Israelis.

  3. Ignatius, Egypt is now run by the Muslim brotherhood. They have ties to Al Queada. Al Queada hates the U.S. Please do and try to keep up.

  4. Dean Palmer says:

    It's always darkest before dawn. And it's going to get a whole lot darker! There are no jobs because banks aren't so easily lending start-up capital for new business ventures; you have to have amazing credit nowadays to get seed money to start a new business, but what "new" business has any credit, or good credit? Then we have existing corporations dubious about the future because of their worries about how the new ObamaCare laws will affect their stock prices and the Bottom Line. They are hesitantly hiring – not for expansion – but for only a limited number of essential core positions because they know their costs of doing business – especially employee costs – will be increasing substantially. And if that wasn't bad enough, government spending remains at an all time high because, republican or Democrat, a badly misinformed and ignorant public re-elected a president who has an agenda that favors something other than what's in the best interests of the Country. And as more and more manufacturing and technology jobs continue to move off-shore, there are fewer high paying jobs available for Americans. I could go on and on. I am an electronics engineer and have been continuously seeking work for nearly four years, so I think I know what I'm talking about.

    But ironically, the problem does not lay entirely with the government! Until the American people turn off the TV and put down their Androids, get educated and seriously rethink their political choices, nothing is going to improve. We did it to ourselves and have no one to blame but ourselves. Indeed, we have a long way to go until the dawn.

  5. If the the Arab world wanted to bring down the "Great Satan" US, they wouldn't have to start a single terrorist cell on American soil. All they would need to do is withdraw the trillions of dollars they have invested in this country and the US would fold like a house of cards.

    And "Al Qaeda" literally translated means "the base", the name given to the database the CIA maintained of Mujahedeen rebels in Afghanistan when it was a Soviet quagmire in the 80s. You know, back when Osama was a CIA-trained US asset code-named "Tim Osman".

    I wouldn't spend too much time shaking in my boots over the threat of "Al Qaeda" either. It's Arab slang for "I'm going to the toilet". If it was anything other than a sales job by the US intelligence community I don't think any self-respecting terrorist would want to be associated with going to the can. 😉

  6. And that has all ended Morsi – the head of the Muslim Brotherhood – which is the mother of Islamic terrorist all over the world – all of which have sworn to defeat us and wipe Israel off the map. Where the hell have you been living, under a rock?

  7. timeforjustice says:

    If those of the Arab World don't need us and hate us that much, then they could have already pulled out before now. Now why do you suppose they haven't done that ? I'll tell you why. Because they actually need us. If they were as self sufficient as they have threatened and had other buyers for their oil and their goods, they could have already used their "other" buyers to put us out of commission. Which they haven't because they can't. They need us. Plain and simple. All the words are just that. WORDS.

  8. Let's not forget Broke & Jobless Country & they are talking about Amnesty to forced a population growth on us! United States Gov't working against it's own country

  9. Dude, there's nothing in your link that says anything about swearing to "defeat us". As to "wiping Israel off the map", I really don't care about that. They stole their country in the first place. Stop confusing the state of Israel with the United States of America. In case you haven't noticed, the two countries are not the same.