Posted on 07/24/2013 6:55:25 PM PDT by Nachum
For most of his presidency, President Obama has been focused on the economic short run — which makes sense, given that he took office in the midst of the biggest recession since the 1930s. With his big economic speech today, he’s shifting to the long-run, talking about the structural changes he thinks the economy needs to see for the U.S. to prosper going forward.
But anyone who thinks that the short-run battle is over should take a look at a new report by Daniel Alpert over at the Century Foundation. Alpert notes that while the headline unemployment number is well below its recession-era peak, that’s almost 100 percent due to declines in the labor force participation rate — that is, the share of the population that’s either employed or actively looking for work. Don’t believe him? Take a look at this chart:
The dotted red line is the U-3 unemployment rate, or the number you see everywhere. It can go down for one of two reasons: either more people are working, or fewer people are in the labor force. So which is it?
You see that solid blue line? That’s the employment/population ratio, or the number of employed people divided by the civilian noninstitutional population (aka everyone over 16 who’s not in prison, a mental institution, the military, or a nursing home). It’s barely changed since the nadir of the recession. The share of adults who are working isn’t going up; it’s stagnating. More people aren’t working.
(Excerpt) Read more at washingtonpost.com ...
lol.
probably true
If you work hard, he taxes the hell out of you. If you drop out, the economy collapses, and he's even happier. He wins either way.
That's what really sucks.
The reality is that we have been in The 0bama Depression for a while now. The real economy has been masked by Bernanke printing money.
It was also 1996. I got laid off in 2009, and I've had nothing but contract jobs since then. No one is hiring full-time. A friend of mine got laid off three times this year.
Retirees should get a McJob-even if it’s only 20 hours per week. You’ll live longer plus eat well.
If you work hour during the reference week, you are considered employed.
Consider: If you'd have saved and invested the same amount of that money the government with held from you for Social Security, and you are just about to collect SS, You might get $1700 a month. Your investments, assuming a meagerly 8%, would have over a $million in value. Oh yeah, SS doesn't even have your money. They already spent it!
I've had a few other high points in my life. But meeting fellow Freepers, Lucianne, Coulter, Drudge and so many others was something I will always be most proud of. Flew all the way from West Coast, as did many others.
1. McDouble with cheese (off Value Meal) 2. Add lettuce, remove ketchup, add Big Mac Sauce You have just made a Big Mac (without the center piece of bread). Order a child size drink.
Cost $2.00 $1.00 for the Poor Man's Big Mac. $1.00 for the drink.
What investments? State property tax I cannot get out of.
I retired as early as I could. F’em. Goin’ Galt.
Good idea!...Why work to support this shit pile liberal system?
Many states tax retirement income, Illinois does not.
Americans aren’t “retiring”; they are “being retired”.
I am well aware of that. What's preventing me from staying here are the property taxes. They have gone through the roof.
Contract is all there is left. Somebody has to do the work.
Retirement? How do you live with the uncertainty? You can have millions in the retirement account but if you live 30 years there is just too much that can happen to be able to count on it. You could easily find yourself broke, old and destitute without any means to recover.
The 401 scam is just one more thing that has ruined us and feathered the nests of the money changers.
You can buy a flex annuity or a flat annuity... both stupid purchases. The flat annuity has no chance of keeping up with inflation and pays zip rate of return.
Have you or anyone else found an insurance type annuity that would pay out like a defined retirement plan with an inflation clause? It seems this would be a winning deal for a good actuary. It is a bet they can earn enough money with your money and that the odds are you will die before they pay out too much. To my knowledge that kind of product is not offered to individuals. It is only offered by governments and huge companies.
You either take the risk and risk catastrophe or you keep working, die well funded and somebody else enjoys it all.
Life sucks.
...and then you die.
I’m fortunate in that respect, property taxes are assessed and collected at the county level, I live in Tazewell county, smack in the middle of the state, in a small town. Three bed room house on a double corner lot and my property taxes are a little under $800 per year.
I’m over 65 which gets me about a $200 or so discount. Close to 95% of my property taxes are for the local grade school, middle school, high school and Illinois Central College.
And with luck that will be soon. I don’t want to see anymore of this needless destruction. I’m a coward. I can’t stand to see what is happening to the future of my children.
1996 is a whole different thing. Contract work is the best CPA’s and senior level executives can get. And the jobs are so tight, folks in their 40’s and 50’s are glad even to have the contract work.
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