Recession Watch Begins, Jobs Report Disaster, Walmart's Celebrity Cheerleaders And More

Friday, June 1, 2012 Recession Watch Begins Get ready: The ugly May jobs report will revive talk of another recession. Don't believe it. Yet. The "R" word got dropped all over Twitter within minutes of the news that the economy had added just 69,000 jobs in May and that the unemployment rate had risen to 8.2 percent. Famed economic Cassandra Nouriel Roubini did his thing, tweeting: "From anemic sub-par growth to stall speed to double-dip recession? It is possible and 2013 looks worse with a serious fiscal cliff and drag." Pedro Da Costa of Reuters tweeted simply: "I'll say it: recession." Jobs Report Disaster Justin Timberlake, Bill Clinton Are Cheerleaders At Walmart's Annual Meeting Krugman: 'We Are Not A Household. We Are An Economy' A Surprising Consequence Of Homeownership 'We Don't Want To Be A Prison Town' BLOG POSTS Jared Bernstein: May Jobs Report: First Impressions (Updates) This is America! We don't lie down, throw up our hands, point our fingers, and give up! We roll up our sleeves and try to fix stuff. So, what should we do right now after the May jobs report? Here are some thoughts, in order of political plausibility. Bill Moyers: Pity the Poor Billionaires So-called "mega donors" are upset that their campaign contributions are being exposed to public view, ignoring our right to know who is giving money to candidates -- and the opportunity to try to figure out why. The sound you hear is the world's smallest violin, say, a teeny-tiny Stradivarius insured for millions. Robert Reich: The Jobs Stall Republicans will have a field day with today's jobs report, taking it as a sign that Obama's economic policies have failed and we need instead their brand of fiscal austerity combined with more tax cuts for the wealthy. But that's precisely the reverse of what's needed. Larry Magid: Facebook's Real Value Unrelated to its Stock Price All of the pre-IPO hype and post-IPO letdown completely misses the point when it comes to Facebook. Although Wall Street may see it differently, Facebook's main task is not about making a quick buck. It's about slowly and methodically building a sustainable business. Matthew Dowd: Is Dismal Jobs Report the Signal Independents Are Seeking? For the Obama campaign, the May jobs number of 69,000 being created is extremely bad news at an extremely bad time. This moment is one of those signals that could begin to push swing voters over to Romney.

MOST POPULAR ON HUFFINGTONPOST.COM Jobs Report May 2012: U.S. Employers Added 69,000 Jobs In May As The Unemployment Rate Rose To 8.2 Percent Patricia Walker Sues Neiman Marcus For Not Taking Back Gifts Bought By Cheating Husband The Toys The Super-Rich Use To Protect Themselves And Their Stuff ON TWITTER Stealing Ideas From Inventors ON FACEBOOK Paul Krugman Appears On 'Newsnight,' Battles British Conservatives On U.K. Austerity Policies (VIDEO) Jobs Report May 2012: U.S. Employers Added 69,000 Jobs In May As The Unemployment Rate Rose To 8.2 Percent Domestic Partner Health Insurance Benefits Grow For Heterosexual Couples, Too

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