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Here's the wakeup call at last, the number that shows why oil is down so much and car and auto sales are so bad. This jobs loss is what happens when there is no credit because there are no homes sold and because there were rates too high for too long.

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We are now going headlong into a recession, and this administration does not even attempt to create jobs. The stock market, because of the

SEC

-caused volatility, doesn't help. The credit markets are frozen because of the possibility of the money not being repaid.

It is all about employment.

Now, the question is whether the senator from

Toyota

(TM) - Get Report

and

Honda

(HMC) - Get Report

-- Richard Shelby of Alabama -- will keep us from saving jobs in the auto industry. Will he shut down

Ford

(F) - Get Report

,

GM

(GM) - Get Report

and

Chrysler

? And yes, he is that powerful.

We cannot afford the job loss here. Better to just make a deal with the laid-off workers to pay them a certain amount of money a month.

Yes, and we know the doom-and-gloomers are right. We know that those who talk about how once a recession is declared, we are already through a lot of the pain, are wrong. We know the stock market is broken and hazardous, even though I think

we will not eclipse the lows

from late November because of the makeup of the

Dow

.

But we sure are going to try. Because this number is a disaster, and even the Larry Kudlows are going to have a hard time explaining away this one.

Oh, and today, President-elect Obama should call for putting 2 million to 3 million to work. Today.

We cannot wait until he becomes president, and we know that President Bush doesn't know how and is way too uncreative to figure out how to do it.

At the time of publication, Cramer had no positions in the stocks mentioned.

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