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Thread: NYT: Real Unemployment at 21.9 Million

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    Angry NYT: Real Unemployment at 21.9 Million

    ...........IMHO is it is much higher!

    and filthy racist comments are included.


    NYT: Real Unemployment at 21.9 Million

    On Friday, President Barack Obama’s Chairman of the Council of Economic Advisers Alan B. Krueger took a victory lap of sorts after the Labor Department’s jobs report showed the U.S. added 165,000 nonfarm payroll jobs in April.“Today’s employment report provides further evidence that the U.S. economy is continuing to recover,” said Krueger.
    But behind Friday’s Labor Department figures lies a stark economic reality: America remains in a downward jobs spiral.
    Consider the following: according to the Labor Department, the U.S. added 165,000 jobs in April, but to return to pre-recession employment levels, the U.S. would need to add 208,000 jobs a month over seven years.
    The government officially recognizes 11.7 million individuals as being unemployed. But as the New York Times notes, including “those who are underemployed—that is, adding in those workers who are part-time but want to be employed full time, and workers who want to work but are not looking—brings the total up to 21.9 million."
    Since President Barack Obama took office, 9.5 million Americans have fallen out of the U.S. workforce. Today, 89,936,000 people living in the U.S. no longer work.
    That means America is trapped in the slowest job market recovery since World War II.
    As New York Times economic reporter Binyamin Appelbaum concludes, “the United States economy is not getting any closer to recreating the jobs lost during the recession.”


    http://www.breitbart.com/Big-Governm...l-21-9-Million

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    I think this is the new normal. The economy of America is gone. Even if you don't look at the political and ideological sides of it, the basic demographics indicate that the boom is over.

    During the "good years" of our economy, the Baby Boomers had children at home. Families with young children buy more products. Now the boomers are aged and buying less stuff, and their children didn't have as many children of their own.

    Realistically, this is just the nature and consequences of a large population bubble being tracked through 60 years of time period.

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    Quote Originally Posted by Miradus View Post
    I think this is the new normal. The economy of America is gone. Even if you don't look at the political and ideological sides of it, the basic demographics indicate that the boom is over.

    During the "good years" of our economy, the Baby Boomers had children at home. Families with young children buy more products. Now the boomers are aged and buying less stuff, and their children didn't have as many children of their own.

    Realistically, this is just the nature and consequences of a large population bubble being tracked through 60 years of time period.

    No, it isn't.

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    Quote Originally Posted by MsPaulRevere View Post
    No, it isn't.
    Good argument. You convinced me.

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    Quote Originally Posted by Miradus View Post
    Good argument. You convinced me.

    you can't be convinced, your statement this was the new normal says it all.

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    Quote Originally Posted by MsPaulRevere View Post
    you can't be convinced, your statement this was the new normal says it all.
    Oh, it's not entirely the new normal. It's going to get a lot worse.

    I just disagree with your implied premise that it's entirely the government's fault. They have quite a bit of blame, but there's a lot of other factors.

    There's an economic myth of unlimited growth that many people believe in. All of your investments will mature, you'll always gain interest on your savings, and every company that sells something will sell more of it next year.

    It's the myth of capitalism.

    Consider that I sell knives. There's about a hundred people or so who follow my knife shop on Facebook. If half of them bought a knife from me tomorrow, I'd make a pretty good profit this month. But next month I have to work twice as hard to sell a knife to the other half. And then the month after that, all of them already have a knife. So I've got to reach a NEW hundred people through word-of-mouth or advertising. And I've got to keep doing that forever.

    The system has been doing its best to keep us buying stuff while our manufacturing potential has been going overseas. Less people earning money with which to buy stuff.

    And then you have this weird cult growing behind the scenes, people like Joe America here on this forum (sorry to pick on you, Joe, but you're the best example of this.) They believe a simple life is better. A simple life generally means less stuff.

    So three main factors here:

    1. Wealth is being concentrated into fewer pockets. Those wealthier individuals only need so much stuff.

    2. The middle class has less disposable income with which to buy stuff.

    3. A growing number of Americans are following Joe's principle of limiting their desire for stuff.

    All of these factors hurt the economy.

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    Quote Originally Posted by Miradus View Post
    Good argument. You convinced me.
    "Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. ...those who torment us for our own good will torment us without end for they do so with the approval of their own conscience."
    C.S. Lewis



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    Quote Originally Posted by Miradus View Post
    Oh, it's not entirely the new normal. It's going to get a lot worse.

    I just disagree with your implied premise that it's entirely the government's fault. They have quite a bit of blame, but there's a lot of other factors.

    There's an economic myth of unlimited growth that many people believe in. All of your investments will mature, you'll always gain interest on your savings, and every company that sells something will sell more of it next year.

    It's the myth of capitalism.

    Consider that I sell knives. There's about a hundred people or so who follow my knife shop on Facebook. If half of them bought a knife from me tomorrow, I'd make a pretty good profit this month. But next month I have to work twice as hard to sell a knife to the other half. And then the month after that, all of them already have a knife. So I've got to reach a NEW hundred people through word-of-mouth or advertising. And I've got to keep doing that forever.

    The system has been doing its best to keep us buying stuff while our manufacturing potential has been going overseas. Less people earning money with which to buy stuff.

    And then you have this weird cult growing behind the scenes, people like Joe America here on this forum (sorry to pick on you, Joe, but you're the best example of this.) They believe a simple life is better. A simple life generally means less stuff.

    So three main factors here:

    1. Wealth is being concentrated into fewer pockets. Those wealthier individuals only need so much stuff.

    2. The middle class has less disposable income with which to buy stuff.

    3. A growing number of Americans are following Joe's principle of limiting their desire for stuff.

    All of these factors hurt the economy.
    Spot on. Couldn't have said it better myself.

    Our whole economy is based on Growth. As a business, you could have a stellar year but if you don't exceed it the next year, you're considered a failure.

    Continuous growth is unsustainable. As Ayn Rand said, you can ignore reality but you can't ignore the consequences of ignoring reality.

    P.S. it IS going to get a LOT worse. So if you can't hack it now, heaven help you.
    "Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. ...those who torment us for our own good will torment us without end for they do so with the approval of their own conscience."
    C.S. Lewis



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    Quote Originally Posted by Homesteader View Post
    Spot on. Couldn't have said it better myself.

    Our whole economy is based on Growth. As a business, you could have a stellar year but if you don't exceed it the next year, you're considered a failure.

    Continuous growth is unsustainable. As Ayn Rand said, you can ignore reality but you can't ignore the consequences of ignoring reality.
    So what should our economy be based on?
    Make America WELL Again !
    Even as men wrecked upon a sand, that look to be
    washed off the next tide.

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    Quote Originally Posted by Hurricane View Post
    So what should our economy be based on?
    Need.

    I need a washing machine. I have some cash I have set aside for a washing machine.

    The washing machine company wants to sell me a washing machine. But they don't want to make one that will last 30 years. They make one that will last 3 years (about the length of their warranty).

    In this manner, they make sure that every 3 years I've got to buy another washing machine.

    That's an economy based on growth.

    An economy based on need would have at least one manufacturer out there who intends to sell me a washing machine that would last me the rest of my life.

    It's also part of an "invisible debt" that perpetuates the growth-based economy.

    Consider that the 3 year washing machine costs me $400. It will last me roughly 1095 days. If I intend to replace that washing machine in 3 years, I have to set aside $2.74 per day.

    That's an invisible debt of $2.74 per day that most people simply don't account for. Every device in your house has that same invisible debt, ticking away and draining your resources. And that doesn't even account for inflation, which means that I'll have to pay something like $440 for that same washing machine in 3 years.

    The entire growth-based economy is geared and calculated for exactly one thing ...

    Keeping you a perpetual wage-slave.

    You can never put back enough resources to last you for the rest of your life.

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