Article

2011-06-22 Economy

Why the Jobs Situation Is Worse Than It Looks

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Posted by DarthVader 2011-06-22 09:29|| || Front Page|| [4 views ] Top

#1 This disaster is 80 years in the making. The blue model is dying. We are finished living off the capital gain associated with being the only modern country not devastated by WWII. Time to get back to work the old fashioned way. Only too few remember what that means. Only time will solve this problem. And maybe WWIII.

Posted by Nimble Spemble 2011-06-22 09:45|| 2011-06-22 09:45|| Front Page Top

#2 I don't know if the problem is the slack or the slackers.

Posted by Thing From Snowy Mountain 2011-06-22 11:10|| 2011-06-22 11:10|| Front Page Top

#3 This video paints an even worse picture.

Posted by Water Modem 2011-06-22 13:37|| 2011-06-22 13:37|| Front Page Top

#4 It will take a long time to climb out of this no matter who is in office. It will take a far longer time than that for the electorate to grasp this. Meanwhile incumbents and their challengers can demagogue this issue to death, or until their retirement, whichever comes first.
The stimulus has mostly gone into the pockets of the same people who cause this crisis. The bill for the stimulus, however, will be paid by the taxpayers in years to come, one way or the other.
Severe unemployment lasting for decades will produce severe short term and long term changes in the country. Unless a solid gold meteorite of sufficient size crashes into federal land somewhere (preferably taking out many incumbent politicians) this is not going to suddenly improve.
The Federal Reserve has 2 main missions by law: to maintain stable prices (in plain English, no inflation) and an optimal level of unemployment. It has failed & continues to fail on both these goals, and there is no sign that Fed policies will achieve its statutory goals, now or ever.

Posted by Anguper Hupomosing9418 2011-06-22 14:15|| 2011-06-22 14:15|| Front Page Top

#5 On the other hand, a recent poll:
In the poll, 49 percent of respondents said theyre worried about Republicans gaining control of the White House and Congress and following through on pledges to slash funding for benefit programs like Medicare and Medicaid, outnumbering the 40 percent who said they are concerned about another term for Obama and a continuation of current spending policies. Among independents, 47 percent said they are worried about a Republican takeover compared with 37 percent who are concerned about maintaining the status quo.
The poll did not ask those polled if they were worried about economic collapse of the USA if business as usual by Obama continues for another term. Nor did it ask, "Which state is Columbus, Ohio, the capitol of?"

Posted by Anguper Hupomosing9418 2011-06-22 14:44|| 2011-06-22 14:44|| Front Page Top

#6 Consistency of the US electorate is legendary.

We want more liberty,
and prison for droopey drawers.

We want a flexiable workforce,
and wonder about why we got so many Messicans.

We want cheap food,
and bitch about farm subsidies.

We want less government,
and bitch about the size of our peanut alotment.

We want Voter ID,
but no National ID.

More roads,
More rail,
Better ships,
More Subs,
Next Gen-CVN
Jobs, Jobs, Jobs, Jobs, Jobs, Jobs, Jobs
Good paying Jobs.
With healthcare.
And maternal leave.
And daycare.
And a Pony in 2018 for every damn child.

Meh.

Also Housing is TOO DAMN HIGH

And of course.... Sweet damn Jesus... Gasoline is over $4.00 a gallon, a Blue Ribbons Commission of pinning blame should be named. Outrageous! Contact your congress critter today and bitch like mad at him/her, that's why we pay them so damn much.

Posted by Goldies Every Damn Where 2011-06-22 15:51|| 2011-06-22 15:51|| Front Page Top

#7 I blame two factors. Clinton's giving permanent "Most Favored" trading status to China, and Obama's perpetual Obama-isms that destroy growth. Sadly, Bush the Great (W.) was distracted by 9/11 and could not do more to counter the Socialist job-killing agenda. And Osama laughs from the grave, as destroying our economy was his primary goal. He was successful!

Posted by Scooter McGruder 2011-06-22 16:02|| 2011-06-22 16:02|| Front Page Top

#8 > The loss of manufacturing due to competition, housing bubbles popping and staggering personal and national debt have lead to a perfect storm of economic poo.

All these have one cause.

Manufacturing failing to compete is because America taxes incomes which increase costs, lower employment and wages.
In order to hide the damage to money velocity the government uses increases in DEBT.
It does this by lowering reserve requirements.
Increased debt lowers the affordability of housing.
Increased debt lowers yields. When lowered below the risk default is inevitable.

America needs to tax Land Rights and IP rights, not people working.

Posted by Bright Pebbles 2011-06-22 18:37|| 2011-06-22 18:37|| Front Page Top

#9 There is a remarkably simple solution, asset deflation, which transfers assets from people who had made money from them or acquired them from people who had made money from them (eg the government), to people who will make money from them. Creating employment, wealth, etc. in the process.

Of course it crashes the banks who have lent against the inflated value of these assets, but that gonna happen anyway.

Posted by phil_b 2011-06-22 19:28|| 2011-06-22 19:28|| Front Page Top

#10 #1 NS:

"This disaster is 80 years in the making. The blue model is dying. We are finished living off the capital gain associated with being the only modern country not devastated by WWII. Time to get back to work the old fashioned way."

You said it, mister.

All the other stuff on this thread, though true, is subservient to this single issue.

I nominate not just this thread, but your comment, for the Rantburg Classics page.

Posted by no mo uro 2011-06-22 19:40|| 2011-06-22 19:40|| Front Page Top

#11 Yep, phil_b. Investment wealth is just an illusion. A fiction of transferring excess productivity at one time as a claim against excess productivity at some future time. If the future excess productivity does not come to exist, the claim is valueless.

Posted by Glenmore 2011-06-22 19:45|| 2011-06-22 19:45|| Front Page Top

#12 CHINA DAILY FORUMS > US IS FINALLY FACING ITS "LOST DECADE": EXPERT WARNS [US at halfway-point of lost economic decade = 2006-2016].

"Lost Decade" = aka POTUS BAMMER TWO-TERM PRESIDENCY???

THE REAL BAD NEWS IS THAT VARIOUS NETTERS ARGUE THAT ANY SUCH "LOST DECADE" SHOULD ACTUALLY BE "DECADES" - PLURAL - NOT "DECADE"???

* Also from SAME > US IN AGRICULTURAL CRISIS TOWARDS YEAR 2050.
> 450.0Milyuhn National Population by 2050.
> US to have NON-WHITE MAJORITY POPULATION [slight] by 2050.
> US, World suffering from INCREASING FOOD DEFICITS.
> Dedicated US FARMERS comprise tiny Percentage of US national, food sector/production population + is expected to decline further.
> US - NOT ENOUGH YOUNG PEOPLE = REPLACEMENT WORKERS, FARM OWNERS TO TAKE OVER FROM AGING US FARMERS.
> US = TRILINGUAL by 2050, i,e. Hispanic, Swahili
[African-AMer], English???

and

* SAME >[Michael Payne] HEED THE WARNING SIGNS: AMERICA IS [steadily] EDGING CLOSER TO SOCIETAL IMPLOSION.

Espec vee "BLOWBACK", i.e. MAINSTREAM ANGER, FRUSTRATION AT PERCEIVED INTENTIONAL + UNFAIR + MALICIOUS EXPLOITATION, DECEPTION, OTHER ABUSE BY POLITICAL + ECON LEADERS.

Rich unfairly getting richer, Poor unfairly getting poorer = recipe for Anarchy, Revolution, + Collapse. RICH CONTROLLING ANY + ALL THE GUNS = FIREPOWER, ETC. ISN'T GONNA BE ENUFF TO STOP IT.

Posted by JosephMendiola 2011-06-22 21:08|| 2011-06-22 21:08|| Front Page Top

#13 Hyper-power, Hyper-PCorrect America = Amerika is not invincible nor immune from any of the dynamic forces that affect other World States-Powers e.g. TWO/MULTI-STATE SOLUTION? FOR CONUS.

Posted by JosephMendiola 2011-06-22 21:13|| 2011-06-22 21:13|| Front Page Top

22:44 JosephMendiola
22:38 tipper
22:28 Redneck Jim
22:17 Redneck Jim
22:17 JosephMendiola
22:08 Barbara
22:07 twobyfour
22:05 Beavis
22:01 SteveS
21:50 Thing From Snowy Mountain
21:44 trailing wife
21:42 trailing wife
21:40 lotp
21:37 trailing wife
21:37 Procopius2k
21:36 lotp
21:35 SteveS
21:34 JosephMendiola
21:30 phil_b
21:25 Pappy
21:17 johnbragg
21:15 texhooey
21:13 JosephMendiola
21:08 JosephMendiola