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Sorry, should have qualified that: our politically corrupt system is at fault
That can definitely happen. There are people who would like you to believe that our system is bad so that they don't carry any blame.
But, in reality any problems that arise are the fault of the people running the system. There are of course some people in the system that do good things and try to keep down on corruption. But, then you have the ones that just don't seem to care.
That can definitely happen. There are people who would like you to believe that our system is bad so that they don't carry any blame.
But, in reality any problems that arise are the fault of the people running the system. There are of course some people in the system that do good things and try to keep down on corruption. But, then you have the ones that just don't seem to care.
It's not about caring. It's about Self Interest.
I'm always surprised that people don't keep that in mind.
When you look at society there are the payers and the dependents. Bascailly therre is nothig for the dependents when the payers do not do well or when the dependents becoe too mcuh of a burden. There is litlle return overall for investment in individuals if it does not produce a payer. Its easy to see who is really paying the bill by who actually does plus provide the services many get for free because they aren't payers really. Its like lookig at a fmily who has more children than they can support at a certai level. If the children actauly produce income that is one thing but if they don't then they are less valued l;ike today verus the past in reality. We have a growing dependents problem in this country .
I talked to a long time wall street vetern two days ago who said they don't see any signs of a recovery yet either.
The reason the person told you this is that there is NO RECOVERY.
Job openings are down 30% from pre-recession levels. The only reasons the UE rate is declining is b/c the pace of layoffs has declined and the Government is taking people out of the labor pool and playing with the numbers. The workforce participation rate is at the lowest level in 25 years. I don't recall the exact scenario but believe it was as follows: if the labor force participation rate were at the historical norm, then the reported UE rate (U-3) would be 11.6%.
Look at how much our costs are rising in many areas: food, energy, consumer staples, tuition, health insurance. So incomes are flat, jobs are not being created at a significant rate, prices are going up, the currency is weakening and the debt continues to pile up at a rapid pace with no end in sight. Does this sound like a recovery to you?
Remember, we don't need some Government bureaucrat to tell us the economy is doing poorly anymore than we need that bureaucrat to tell us the economy is doing well. Ask people looking for work and recent (and soon-to-be) grads how well the economy is doing. Ask your local small business owner.
The reason the person told you this is that there is NO RECOVERY.
Job openings are down 30% from pre-recession levels. The only reasons the UE rate is declining is b/c the pace of layoffs has declined and the Government is taking people out of the labor pool and playing with the numbers. The workforce participation rate is at the lowest level in 25 years. I don't recall the exact scenario but believe it was as follows: if the labor force participation rate were at the historical norm, then the reported UE rate (U-3) would be 11.6%.
Look at how much our costs are rising in many areas: food, energy, consumer staples, tuition, health insurance. So incomes are flat, jobs are not being created at a significant rate, prices are going up, the currency is weakening and the debt continues to pile up at a rapid pace with no end in sight. Does this sound like a recovery to you?
Remember, we don't need some Government bureaucrat to tell us the economy is doing poorly anymore than we need that bureaucrat to tell us the economy is doing well. Ask people looking for work and recent (and soon-to-be) grads how well the economy is doing. Ask your local small business owner.
The reason the person told you this is that there is NO RECOVERY.
Job openings are down 30% from pre-recession levels.
Are job openings up from 2009? I don't think anyone is claiming there has been a complete recovery to pre-recession levels, the question is whether a recovery is happening where situation is improving.
Quote:
The only reasons the UE rate is declining is b/c the pace of layoffs has declined and the Government is taking people out of the labor pool and playing with the numbers.
How is the government playing with the numbers? I'm not discounting the claim but do they have some arbitrary way to remove people from the labor pool or is there some formula that was changed last month? If they are using a consistent methodology then it is harder to make a case of them "playing" with the numbers.
The reason the person told you this is that there is NO RECOVERY.
The recovery has already taken place. Your economy is growing at 2%-5% per quarter, which is respectable growth in a post-industrialized society.
Quote:
Originally Posted by LIS123
Job openings are down 30% from pre-recession levels.
So?
There is no relationship between employment/unemployment and the economy. You can have 100% of the labor pool employed and still be in a recession with the economy constantly contracting. That is not theoretical, that is actual fact as many other countries have experienced that.
Your labor pool is arbitrarily defined. Some people would say it is 16-67, others 18-67, and still others, like me would define your labor pool on per household basis, so that as long as one person from each household is employed, then you have an optimum labor pool with optimum unemployment.
In order to prove the point, consider that just 40 years ago, only 13% of households in the US had more than one wage earner.
The rate was 6% in the 1950s.
If we go by your definition, then the US economy never recovered from the Great Depression and has been in depression for the last 80+ years.
I haven't seen any figures lately, but as of 2008, 67% of households had 2 wage-earners. I seriously doubt that is the case now, but as I've been saying for the last 5 years, you will very soon return to the day when only 13% of households have 2 wage-earners and you all just ought to get used to it.
Quote:
Originally Posted by LIS123
The only reasons the UE rate is declining is b/c the pace of layoffs has declined and the Government is taking people out of the labor pool and playing with the numbers. The workforce participation rate is at the lowest level in 25 years. I don't recall the exact scenario but believe it was as follows: if the labor force participation rate were at the historical norm, then the reported UE rate (U-3) would be 11.6%.
There are other factors as well. If you get discouraged and quit looking for work, then you are not in the labor pool and no longer counted as unemployed, and if you accept a part-job because you have put yourself between a rock and hard place and must work, and a part-time job is the only thing you can find, then you are considered employed and not counted as unemployed.
Quote:
Originally Posted by LIS123
Look at how much our costs are rising in many areas: food, energy, consumer staples, tuition, health insurance. So incomes are flat, jobs are not being created at a significant rate, prices are going up, the currency is weakening and the debt continues to pile up at a rapid pace with no end in sight.
That's your fault. That's Cost Inflation and the solution to Cost Inflation is very, very simple: Stop Consuming like a Locust. In the alternative, you can increase production...hint: there's 26 Million acres of fallow farm land in Ohio just waiting for you to farm it.
It's early March, you got time to get in soy, corn and cotton. Cotton doesn't grow well in Ohio, but any amount of cotton would increase Supply and offset Demand to lower the price of clothes and those things related to cotton.
If you don't like Ohio, there's 140 Million acres of fallow farm land in Indiana, Michigan, Wisconsin, Minnesota, Missouri and Illinois.
Quote:
Originally Posted by LIS123
Remember, we don't need some Government bureaucrat to tell us the economy is doing poorly anymore than we need that bureaucrat to tell us the economy is doing well.
That's right. What you need to do is reassess and re-adjust your priorities so you can survive in the new world. You should be excited. Right now you're just getting an inkling of what it's like for the other 4/5 of the people on the Planet to survive.
Yes, so far this has been a classic L shaped recession, but we are about to go off a cliff that will make 2008 look like a boom. For the first time this weekend, shopping malls and restaurats were not crowded. People sense that the end is near. Dow 12,000? Ridiculous. We will soon look longingly at Dow 6000, if there even is a NYMEX.
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