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Posted on 01/06/2012 5:57:49 AM PST by C19fan
Exactly! They could say it was 5%, but if you're still looking, you won't believe them.
BLS... LOL... more like BFS.
Book Fricasi: Add statistics, skew generously, project optimistically, treat projections as established fact when the projection date comes due, find creative ways to add, subtract, multiply, find square roots, do algebra. Wait one year, and release when books are thoroughly cooked.
Happened in Delaware, if anyone actually bothered trying to watch past the month of January, they would see plenty of jobs dropped, even the local Amazon.com, Integrity Workforce, and the local stores only hired for the months of November and December, plus perhaps the start of the year. My own younger family even is starting to scramble now that their term is ending, it’s disappointing, and I am disappointed that nephews and nieces right now, not to mention plenty in the younger generation who have the decent education aren’t having such a great time getting to work, and we don’t have some equivalent of the Marshall Plan to save us from this mess right now, it will take a while. I know we’re all disappointed, but I despise the media’s throwing out employment statistics, there’s other issues like avoiding serious loan mistakes, which both our president and a great deal of Congress don’t seem to understand.
This administration will say anything, do anything, lie, cheat, steal, buy votes, along with the sycophants in the old media to get this piece of crap reelected!
And don't even get me started on lightbulbs and useless low flow toilets!
Sounds like seasonal hires to me.
Military spending does more than merely redirect resources since it creates goods that would not be otherwise created. It was precisely military spending that ended the Depression not Roosevelt’s fiscal programs.
In an depression one of the critical factors is to stimulate more investment and it took the demands of WWII to do that. Part of it was the deficit spending no doubt.
Yes, military spending creates goods that wouldn’t otherwise be there. However, the money spent on military goods would, theoretically, be spent on other or be invested if it wasn’t spent on military goods. You are committing the broken window fallacy when you argue that WWII spending helped us out of the depression. It might appear that it did, just like it appears that the economy is helped when there is a broken window and we then have to pay a window maker to make a new window. However, this overlooks the fact that the money spent on the broken window could have been spent elsewhere, instead of on the destroyed property. By your logic, the stimulus should have worked because the government stimulated the economy with deficit spending.
Think of it this way: In a perfect world, would there be military spending? No, because in a perfect world we would never go to war and would, therefore, not need a military. The resources spent that we have to spend on the military would then be spent elsewhere.
Of course, we don’t live in a perfect world, so we need a military, but we pay for that military by taking money from other sectors of the economy. Even deficit spending is financed by taking money from other portions of the economy, since deficit spending requires a loan from somewhere. All of that money would have been spent elsewhere had it not been for the fact that it needed to go to the military.
Under Classical economic theory holds simply and generally that when economic activity declines and demand drops employment falls and wages drop along with other prices until demand re-ignites, employment rises again and wages stabilize and rise. Unfortunately, the economic structure we are, since the advent of huge corporations, in is not operating under the assumptions underlying classical economic theory.
So in reality the market clearing mechanisms are not operating. Wages do not fall as much as they must in order to reach equilibrium and clear the markets. They are held up by union contracts, employment by governments on all levels, unemployment payments and minimum wage laws among other things. Price competition among sellers is less significant as well.
Private investment collapsed in the thirties partially because of these failures in the market. Add to that the blunders of the Fed and the overall collapse of the international economy and the psychological requirement for capitalist economics, the belief that a profit is there with the right investment, basically disappeared.
The real point is that other spending was not possible or happening fast enough for the average person. So FDR had to do something politically as ANY president would have to do. Hence the New Deal which was not helping much until the War bailed him out. Even if the government is not doing the right thing it will not be allowed in a democracy to do nothing when faced with a catastrophe as occurred in the thirties. There are very few Americans who have even a slight knowledge of economics or the theories which are contained within it. This is why Socialism is still considered as an option rather than a dead-end.
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