Posted on 09/11/2009 4:04:58 PM PDT by SeattleBruce
What made Summers' frank comment important is that it suggests this just-add-gas relationship may now be malfunctioning. The American economy has been shedding jobs much, much faster than Okun's law predicts. According to that rough rule, we should be at about 8.5% unemployment today, not slipping toward 10%. Something new and possibly strange seems to be happening in this recession. Something unpredicted by the experts. "I don't think," Summers told the Peterson Institute crowd - deviating again from his text - "that anyone fully understands this phenomenon." And that raises some worrying questions. Will creating jobs be that much slower too? Will double-digit unemployment persist even after we emerge from this recession? Has the idea of full employment rather suddenly become antiquated? Is there something fundamentally broken in the heart of our economy? And if so, how can we fix it?
(Excerpt) Read more at news.yahoo.com ...
Wow, now they're trying to prep us for their double digit UR rates to come (we know the real UR is somewhere like 16.8% - to so called U6 rate.)
America - are you doing to just take these dim bulb socialists sitting down? Come on! Rise up!!
Go 9/12 ers!!!!
Oh these libs are so evil. Time runs Hussein on the cover every week and now they shill for him even more.
The idea is 10% or maybe even 15 or 205 unemployment is something we need to get used to VERSUS 5% unemployment under Bush.
Until Obimbi get’s us to triple-digit
It’s here to stay until Chairman Maobama is shown out the door or until pubbies regain Congress, that’s for damn sure.
AS LONG AS WE KEEP THE OBAMANATION,YES.
I think it’s here to stay, but I also think it’s going to get much worse since Obama and the RATS are doing every thing they can to destroy small businesses. Small businesses were the last segment of jobs available to Americans. The bast*rds in DC already shipped the rest of the jobs overseas! I would like to see a mass hanging in DC because that’s what the traitors deserve!!
It’s here to stay till the Americans take over the government again. The current facists in charge have 3 1/2 years left to destroy our country.
I would like to see a mass hanging in DC because that’s what the traitors deserve!!
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Please throw in the Ministry of Propaganda - who are no less traitors..
“Something new and possibly strange seems to be happening in this recession.”
Maybe it’s because all other recessions still had a manufacturing base. That is gone, kapoot. And the one thing that held us up from the fall in the 90’s from losing half of the manufacturing back then (thank you Bill Clinton and China-dumba**) was the IT boom. Now that is gone AND the IT professionals are outsourced to India as is most other telebank workers. Internet is dandy for people wanting to pay less wages for pennies in long distance.
We have outsourced all of our jobs on a mass scale. It’s one thing to say “We don’t need to bother with those, we can come up with more”, but where? With what? The money ran out before the new ideas came in!
When (and I believe in my heart it’s when, not if) the dollar is dropped, look for the TRUE bottom to hit.
They only made it easier to ship jobs overseas. Consumers made it profitable, and made keeping the jobs here unprofitable, by choosing to save $.50 on foreign made pens and binders over keeping jobs here.
We can't just build here. We gotta buy what we build.
The current facists in charge have 3 1/2 years left to destroy our country.
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Only 13 1/2 months til the 2010 elections!!
Don’t give up!!
With unemployment at 16.8% (U6)...yeah. I would say it’ll stay double digits for some time. Isn’t that the goal of this “administration”?! “Keep it high, bleed us dry!”
High taxes, heavy handed regulations, government taking over corporations and handing them to unions... yeah... whats wrong with the economy?
http://www.politico.com/news/stories/0909/27052.html
“Unemployment is probably the single most important statistic for Democrats eyeing the mid-term Congressional elections next fall. If the unemployment rate begins to decline, the White House may have an easier time convincing voters that its enormous stimulus spending and massive federal intervention into the economy were effective.”
Wow, they calling it a ‘massive federal intervention’ - because that’s what it is...and a horrendous idea, at that (which they don’t go so far to say.)
Unemployment here to stay until socialist work institutions are implemented nationwide..e.g. farm or industrial jobs guaranteed for everyone (when one is not working on a national service day or project)...get your Ob work bandanna now, ahead of the line. (See Cass Sunstein)
In Russia in the fifties, whole legions of factory workers were ‘allowed’ to harvest in the fields in the fall...a ‘healthy’ change of pace. In the winter, the people knew there would be bread lines instead of no bread lines.
Current, growing unemployment will not be absorbed adequately by ‘green’- future jobs.
>>The current facists in charge have 3 1/2 years left to destroy our country.<<
.
They don’t need 3 1/2 years to do so — just another year will suffice. The problem is that, if they reach the point of no return, it will be just that — NO RETURN.
Just wait for the riots, candy-assed libs. I have my popcorn and coke ready to watch them head for the white house.
And, if the military sticks to their promise of defending against enemies - foreign and DOMESTIC - their guns won’t be pointed at the rioters.
There certainly are no incentives for private enterprise coming from Obama. Just more failed communist theory.
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