I was reading an article in the Huff post, syndicated from Reuters, that U.S. private employers only added a paltry 38,000 jobs last month. It was based on a report that showed much weaker-than-expected figures for employment. The figures for April were even revised downward.
So, where is the recovery? President Obama says there’s one. The government figures are much rosier. As you will read, there’s a big discrepancy between what the government is expected to come out with and what the private sector is finding.
It’s obvious that Obama just doesn’t get it. There is no recovery. We’re still in a recession heading into a depression, although it’s politically incorrect to say that. I don’t know about you but I see more people around me getting laid off than getting hired. It’s high time for an FDR style recovery but in order to get that Obama will have to fight Wall Street instead of bailing them out.