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5 Bumps

Soooooo....the economy is getting better, right!?!?

If you believe the economy is getting better and unemployment is on a steady/permanent downward trend, then how do you explain this?!

"The Federal Reserve is requiring 19 banks that underwent U.S.-mandated “stress tests” to now test their capital against a recession scenario in which the unemployment rate rises to 11%, according to a report Thursday."

"Louisiana State University- Baton Rouge finance professor Joe Mason said an 11% unemployment rate was “a reasonable scenario to test” and not so extreme."

http://www.marketwatch.com/story/banks-told-to-test-for-11-unemployment-report-2011-02-17

Now WHY would the Federal Reserve be asking banks if they have enough capital IF unemployment were to reach 11%, when we're in the midst of a "recovery?!?!"  Hmmmm????

And here I thought Obama's 2009 Stimulus was essential to keeping unemployment from going over 8%!!!  What went wrong?!?!?  (sarcasm)

(just a little refresher)

 
LoriKeet

Asked by LoriKeet at 11:10 AM on Feb. 20, 2011 in Politics & Current Events

Level 45 (194,908 Credits)
This question is closed.
Answers (25)
  • Sighs.....I don't see it getting better anytime soon and I think the new stress test at 11% is a little alarming....it means somebody is worrying enough about it to look into it. Personally, I wouldn't be surprised if it gets to 14% or 15% with a U6 of between 20% & 30%....in fact it is already that here and in a few other states.
    yourspecialkid

    Answer by yourspecialkid at 1:23 PM on Feb. 20, 2011

  • The economy is nowhere near getting better. If we don't get the rest of these progressives out we are going to collapse.
    Carpy

    Answer by Carpy at 11:18 AM on Feb. 20, 2011

  • Well, they are forcing inflation and gas is at three dollars a gallon and climbing here....considering there is a finite amount of money in the system...I think it's actually going to get worse. Please don't hate me.
    lovinangels

    Answer by lovinangels at 11:39 AM on Feb. 20, 2011

  • I am agreeing with Carpy on this one!!!
    mrssundin

    Answer by mrssundin at 12:40 PM on Feb. 20, 2011

  • Things are not going to get any better till we get Obama out of there. His failed polices have been tried before throughout history, and have failed. I don't know why he thinks they will work this time.

    Natesmom507

    Answer by Natesmom507 at 3:34 PM on Feb. 20, 2011

  • Unemployment isnt going down. I live in an area pretty hard hit with manufacturing jobs being outsourced and I have yet to see any new jobs or the jobs that left come back. Sure maybe our unemployment numbers may have gone down, but that is simply because many people have exceeded their unemployment limit and gone on welfare OR taken jobs with much less income. If nothing is done then people without jobs cannot buy, that means companies will have to fire people because there is no demand for products, which means those who manufacture will continue to lay off because if stores are not buying because people are not buying they have nothing to sell. From all accounts this last unemployment near 10% was the first hit. The second hit is supposed to hit us this year and next along with hyper inflation.
    gemgem

    Answer by gemgem at 11:17 AM on Feb. 20, 2011

  • Is that chart what it was supposed to be with the recovery plan vs doing nothing?

    I would love to see a third line in there showing what actually happened after passing the plan. But that would be telling the TRUTH LOL
    DSamuels

    Answer by DSamuels at 11:14 AM on Feb. 20, 2011

  • Thank you LK, I thought it would look something like that.

    Good to know that stimulous plan worked so very well isn't it?
    DSamuels

    Answer by DSamuels at 11:46 AM on Feb. 20, 2011

  • I agree, and of course it concerns me that a good many Americans don't or REFUSE to see what is happening to our country

    Speaking of sweet...................
    Carpy

    Answer by Carpy at 2:26 PM on Feb. 20, 2011

  • Any time the PBO administration 'projects' and 'assumes' we should all run for the hills.
    jesse123456

    Answer by jesse123456 at 6:35 PM on Feb. 20, 2011