9.1% Unemployment...

[Yonivore]

...the new norm.


http://michaelscomments.files.wordpress.com/2011/10/stimulus-vs-unemployment-sep-2011.gif

So, when Nancy Pelosi tells you the unemployment rate would be in the 14% range had it not been for the stimulus, you know it's a crock of shit.

They have no idea what they're doing.

[ChumpDumper]

yoni is disappointed it's not higher.

What happened to all the investment that you said would happen when the tax cuts were extended?

[boutons_deux]

If you were Prez and had the Senate and House on your side, what would you do, Yoni?

Come, man up, fix the country for us.

[boutons_deux]

If you were Prez and had the Senate and House on your side, what would you do, Yoni?

Come, man up, fix the country for us.

[ElNono]

Christie is doing just as great with this shitty economy...

[ElNono]

I wonder where 1 in 10 Americans are going to find $250/mo in disposable income to keep yoni's millionaire dream alive...

[Nbadan]

The economy is growing despite wing-nut obstructionism...that alone should be enough evidence to prove the stimulus is working and we need another stimulus - pass the American jobs bill or suffer the consequences in November..

[Wild Cobra]

I wonder where 1 in 10 Americans are going to find $250/mo in disposable income to keep yoni's millionaire dream alive...
Are you saying the top 10% are not wealthy enough to plan for their own retirement?

[ElNono]

Are you saying the top 10% are not wealthy enough to plan for their own retirement?

I was being sarcastic, but...

9.1% unemployment, 1 in 10...get it? smh

[DMX7]

I thought the Republicans were going to fix the economy when they took over the House.

[baseline bum]

The economy is growing despite wing-nut obstructionism...that alone should be enough evidence to prove the stimulus is working and we need another stimulus - pass the American jobs bill or suffer the consequences in November..

LOL, what you say is much more important that what you do when it comes to elections in this country thanks to all the money in politics used to buy tons of snarky and sarcastic commercials.

[SnakeBoy]

I thought the Republicans were going to fix the economy when they took over the House.

When did you hear that? All I remember was them saying they would stop Obama's policies. They've been doing that. Next year when they take the Senate and the WH you can start expecting them to fix the economy.

[Wild Cobra]

I was being sarcastic, but...

9.1% unemployment, 1 in 10...get it? smh
Yes, I get it. Still, I was an unemployment statistic more than one. That doesn't keep me from investing.

Are you looking for an excuse not to invest?

[SnakeBoy]

pass the American jobs bill or suffer the consequences in November..

:lol

[ElNono]

Yes, I get it. Still, I was an unemployment statistic more than one. That doesn't keep me from investing.

Are you looking for an excuse not to invest?

Frankly, I don't know many people without a job that have a spare $250 bucks to toss into savings every month. Actually, outside of you, I know none.

[ElNono]

When did you hear that? All I remember was them saying they would stop Obama's policies. They've been doing that. Next year when they take the Senate and the WH you can start expecting them to fix the economy.

I'm sure those unemployed for a while are grateful that stopping Obama policies is the priority... /sarcasm

[Wild Cobra]

Frankly, I don't know many people without a job that have a spare $250 bucks to toss into savings every month. Actually, outside of you, I know none.
So you don't invest when unemployed. You invest when you can.

The point is, you can have a good financial future thru regular investments. However, if you don't invest, you have nothing. Then... only you are to blame.

[ElNono]

So you don't invest when unemployed. You invest when you can.

The point is, you can have a good financial future thru regular investments. However, if you don't invest, you have nothing. Then... only you are to blame.

:lol how are you going to invest with no money to invest? Do you realize how many people live paycheck to paycheck?

IOW, what's the point of saving for the future if you're going to starve to death in the process?

[Wild Cobra]

:lol how are you going to invest with no money to invest? Do you realize how many people live paycheck to paycheck?

IOW, what's the point of saving for the future if you're going to starve to death in the process?
Well, not everyone can invest for the future. They get SS only.

Your point?

[ElNono]

Well, not everyone can invest for the future. They get SS only.

Your point?

How much monthly income an unemployed person receives?

[DMX7]

What would help the people living paycheck-to-paycheck is if we lower the minimum wage.

That'll both increase their salary and decrease the number of people with jobs that require them to live paycheck-to-paycheck. Oh wait, that's not right.

[Wild Cobra]

How much monthly income an unemployed person receives?
I haven't looked up the numbers lately. Last time I was unemployed, I received $420 a week.

If you wish to help everyone unemployed, get together with like minded individuals, and start a foundation. You are free to do so.

[ElNono]

I haven't looked up the numbers lately. Last time I was unemployed, I received $420 a week.

Not sure where you lived then, but nowadays that's not a lot of money. At least I couldn't save $250/mo here now with that income. I would actually have a hard time making ends meet.


If you wish to help everyone unemployed, get together with like minded individuals, and start a foundation. You are free to do so.

:lol where did this come from?

My point was that since anyone can seemingly be a millionaire by making the "right choices" (whatever those are), and investing $250/mo in some imaginary fund that give you fairy tale returns, I was curious to know where all these unemployed people are going to get the disposable $250/mo they need to keep the "dream" alive. Again, in case you forgot, I was being sarcastic.

[Wild Cobra]

My point was that since anyone can seemingly be a millionaire by making the "right choices" (whatever those are), and investing $250/mo in some imaginary fund that give you fairy tale returns, I was curious to know where all these unemployed people are going to get the disposable $250/mo they need to keep the "dream" alive. Again, in case you forgot, I was being sarcastic.
They don't need it now.

Are you under the illusion that they will be unemployed all their lives?

Now sure, not everyone can save a million by the time they retire, but if a person doesn't have the attitude to strive for it... will they?

[ElNono]

They don't need it now.

Are you under the illusion that they will be unemployed all their lives?

Uh? No. But the math on the compound interest and the number of years (not to mention the surreal returns) all hinge on putting in the money every month.


Now sure, not everyone can save a million by the time they retire, but if a person doesn't have the attitude to strive for it... will they?

You're telling me only 10% of the population (or whatever the percentage of millionaires is) strive for it? I have a hard time believing that. I'm sure a lot of unemployed also planned for retirement, but sometimes the economy being shit and losing your job happens.

[Winehole23]

Next year when they take the Senate and the WH you can start expecting them to fix the economy.You're right. Only the government, led by the astute and principled GOP that recently presided over runaway deficits and turned a blind eye to a financial sector whose misfeasance and fraud caused a worldwide recession, can fix the economy.

[SnakeBoy]

You're right. Only the government, led by the astute and principled GOP that recently presided over runaway deficits and turned a blind eye to a financial sector whose misfeasance and fraud caused a worldwide recession, can fix the economy.

Bad wording on my part, I didn't mean they would fix the economy. I meant he shouldn't expect it from the GOP until next year when they win the Senate and White House.

Although the economy will begin to turn around before the 2014 elections so the GOP will get the credit.

[Winehole23]

Bad wording on my part, I didn't mean they would fix the economy. I meant he can start expecting it from the GOP next year when they win the Senate and White House.Reasonable. Sorry for overreading your post.

Although the economy will begin to turn around before the 2014 elections...Why do you think so?

[Winehole23]

And also, what counts as a turnaround? GDP growth at what level? Job growth at what level? I ask, because technically, the economy is recovering right now, if you go by GDP.

[Winehole23]

(not that I put much store by that recovery -- weak and anemic are appropriate adjectives to describe it)

[SnakeBoy]

Why do you think so?

Housing market will stabilize and improve as the TBTF's work through foreclosures and clear inventory then they will begin lending again. The Euro debt crisis will be resolved one way or another. Plus another year or 2 of people paying down debt and saving should be a big help. I haven't looked recently but the savings rate was up close to 6% earlier this year from what I recall.


And also, what counts as a turnaround? GDP growth at what level? Job growth at what level? I ask, because technically, the economy is recovering right now, if you go by GDP.

Unemployment begins to go down significantly. I think that's the only measure that matters to most voters.

[boutons_deux]

delinquent mortgages foreclosed mortgages, Real Estate Owned, are huge depressors of a key market driver, home building and selling.

http://cr4re.com/charts/chart-images/MBANDSQ22011.jpg


http://www.calculatedriskblog.com/2011/04/lps-mortgage-delinquency-rates-declined.html


Many underwater homeowners hampered by high interest rates

The vast majority of Americans with mortgages worth more than their homes are also stuck with high-interest-rate loans, putting them in precarious financial situations, according to data released Tuesday.

A total of 10.9 million homes with a mortgage were in a negative equity position at the end of the second quarter, constituting 22.5% of all residential properties with a mortgage, according to Santa Ana research firm CoreLogic. That was only a slight decline from 22.7% during the first three months of the year. And of those "underwater" homeowners in the second quarter, 3 out of 4 were paying interest that was above the market rate,

http://articles.latimes.com/2011/sep/14/business/la-fi-underwater-homes-20110914

==========

"some" are predicting another Lost Decade for the 2010s, repeating the Repugs' Lost Decade of the 2000s, for real household income and jobs creation remaining flat.

[Agloco]

...the new norm.


I think the point is; jealousy and blame won't put food on your plate.

9.1% Unemployment should help that.


Because it's true.

Anyone that works hard, makes the right choices, and takes advantage of the right opportunities can be a millionaire in the United States of America.

Of course, those who don't believe that never will.

Anyone minus 9.1%

lol new norm.

[Yonivore]

9.1% Unemployment should help that.



Anyone minus 9.1%

lol new norm.
Yes, even any of the 9.1% can become millionaires.

Do you think this will be the same 9.1% forever? Large numbers of people, due to choice or circumstance, move between the ranks of the wealthy and the poor.

Also, I would bet some of the 9.1% are already wealthy, they're just not working right now.

[Agloco]

Do you think this will be the same 9.1% forever?


...the new norm.

Well, it's a revolving door then Yoni. At any point in time, my equation still applies.

[Yonivore]

Well, it's a revolving door then Yoni. At any point in time, my equation still applies.
As does mine. Anyone can be wealthy and successful in America. ANYONE.

[greyforest]

As does mine. Anyone can be wealthy and successful in America. ANYONE.

You are mistaken, friend.

[Yonivore]

You are mistaken, friend.
No, I'm not.

If Snookie can become a millionaire, ANYONE can become a millionaire.

[Winehole23]

As does mine. Anyone can be wealthy and successful in America. ANYONE.Can EVERYONE be wealthy and successful?

[Agloco]

As does mine. Anyone can be wealthy and successful in America. ANYONE.

You assume 100% turnover. Not a reasonable supposition imo.

[Yonivore]

You assume 100% turnover. Not a reasonable supposition imo.
I assume nothing. I fully realize there are people that will never become wealthy but, that's not because the opportunity isn't there. And, that opportunity is unique to America. It's why people continue to immigrate into this country; because of the promise they, too, can be successful, just like Tony Bennett or Donald Trump or Barack Obama or whomever. Look at the vast cross-section of successful wealthy people in this country -- from gang banging criminals to Appalachian white trash -- and tell me it's not possible for anyone, absolutely anyone, to become wealthy and successful here.

Fact remains, anyone -- and I mean anyone -- can, under the right circumstances become wealthy in America. That's the American Dream.

[Yonivore]

You assume 100% turnover. Not a reasonable supposition imo.
I will concede that people who don't think the American Dream exists, likely will never be successful or wealthy.

[boutons_deux]

"can, under the right circumstances become wealthy in America"

Some Circumstances Are More Equal Than Others.

Economic/social mobility has decreased since the VRWC got organized in the mid-70s. The conversatives have done everything to maintain and increase, aka "conserve", their wealthy status, while doing everything to remove opportunity (and wealth) from the lower 95%.

[boutons_deux]

"can, under the right circumstances become wealthy in America"

Some Circumstances Are More Equal Than Others.

Economic/social mobility has decreased since the VRWC got organized in the mid-70s. The conversatives have done everything to maintain and increase, aka "conserve", their wealthy status, while doing everything to remove opportunity (and wealth) from the lower 95%.

[Yonivore]

Can EVERYONE be wealthy and successful?
Everyone has the opportunity.

[ElNono]

I will concede that people who don't think the American Dream exists, likely will never be successful or wealthy.

Why you don't think the American Dream exists then, yoni?