:lmaoQuote:
Originally Posted by ChumpDumper
You're such a effin idiot..............
Printable View
:lmaoQuote:
Originally Posted by ChumpDumper
You're such a effin idiot..............
sincerely,Quote:
Originally Posted by spursncowboys
the guy who doesn't know the difference between coexistence and a coincedence
I had to pull a dictionary for you. Come on professor. Liberals can't rewrite history all the time.
what do you have against factual definitions? Are you against it like facts and logic? Are they not fair? Is that why?Quote:
Main Entry: coincidence Part of Speech: noun Definition: agreement; coexistence Synonyms: accompaniment, accord, accordance, collaboration, concomitance, concurrence, conformity, conjunction, consonance, correlation, correspondence, parallelism, synchronism, union Antonyms: clash, deviation, difference, disagreement, divergence, mismatch
anytime you are ready to give me a definition of bigot. Ok Professor, what is the difference between coincedence and coexistence. Enlighten us. Please no devil's advocate like the first time I read a post of yours. :lolQuote:
Originally Posted by George Gervin's Afro
idiot.
you didn't say he had a big chunk. you said that he has the whole chunk.Quote:
Originally Posted by CosmicCowboy
Oh please...are you in the fucking third grade?Quote:
Originally Posted by clambake
You give him more credit than I do...Quote:
Originally Posted by CosmicCowboy
Actually I will indulge your stupidity.Quote:
Originally Posted by clambake
My original post was about what is normally called a "leading indicator" of economic activity. Just like building permits, construction supply sales give you an indication of what is ahead in the local economy.
I was pointing out that the local leading economic indicators I am hearing are not good.
I realize this is a complicated economic theory for your pathetic mind to grasp but hold onto your mouse. It gets worse.
When the people you are accustomed to "supersizing" their fries lose their jobs because of the flagging local economy then they will either quit eating there or not supersize their fries. Then the business that gives you your paycheck has to cut back. They will cut the stupid/least productive people first which is you.
That's called a "trailing economic indicator"
Sorry
August 7, 2010
Jobless and Staying That Way
By NELSON D. SCHWARTZ
Americans have almost always taken growth for granted. Recessions kick in, financial crises erupt, yet these events have generally been thought of as the exception, a temporary departure from an otherwise steady upward progression.
But as expectations for the recovery diminish daily and joblessness shows no sign of easing — as the jobs report on Friday showed — a different view is taking hold. And with it, comes implications for policymaking.
The “new normal,” as it has come to be called on Wall Street, academia and CNBC, envisions an economy in which growth is too slow to bring down the unemployment rate, while the government is forced to intervene ever more forcefully in a struggling private sector. Stocks and bonds yield paltry returns, with better opportunities available for investors overseas.
If that sounds like the last three years, it should. Bill Gross and Mohamed El-Erian, who run the world’s largest bond fund, Pimco, and coined the phrase in this context, think the new normal has already begun and will last at least another three to five years.
The new normal challenges the optimism that’s been at the root of American success for decades, if not centuries. And if it is here, the new normal could force Democrats and Republicans to rethink their traditional approach to unemployment and other social problems.
Some unusual suspects, like Glenn Hubbard, dean of the Columbia Graduate School of Business and an economic adviser to George W. Bush, are talking about a new, expanded role for the government in addressing the problem. In particular, Mr. Hubbard favors investing more in education to retrain workers whose jobs are never coming back. “If there is a new normal, it’s more about the labor market than G.D.P.,” he said. “We have to help people face a new world.”
For his part, Mr. Gross, also a free-market advocate, believes that it’s time for the government to spend tens of billions on new infrastructure projects to put people to work and stimulate demand.
After the recession and the financial crisis, Mr. Gross came around to the view that something structural in the economy had been altered and that the debt-fueled boom led by consumers over the past two decades was over.
Last week only provided more ammunition for his argument. On Tuesday, Treasury Secretary Timothy Geithner warned that unemployment could go up before it goes down, and on Friday, the jobs report showed that the economy lost 131,000 jobs last month.
Nearly half the 14.6 million unemployed have been out of work for more than six months, a level not seen since the Depression. That’s especially worrisome because the longer unemployment persists, the more skills erode and the harder it becomes to find work.
White House officials, like Christina Romer, a top economic adviser to President Obama, have been busy speaking out against the idea of a new normal. “The fundamental problem we are still facing is the old cyclical, not the new normal,” she said. “What you need to do to get back to normal is to find more ways to get demand up.”
But the new-normal concept is gaining ground. “There is no way to know for sure, but there are broad reasons to think the new normal is possible,” said Greg Mankiw, an economist who advised President George W. Bush and now teaches at Harvard. “We’ve had a deep recession that’s lingering for quite a while, and the question is: Will it leave persistent scars?”
Laura Tyson, chief economic adviser to President Clinton, counts herself firmly in the new-normal camp: “I think we’re going to have slower growth, a higher household savings rate and an elevated unemployment rate for several years.”
Of course, one month’s data is hardly conclusive. And highs and lows in the economy have always been punctuated by the observation that this time is different. But more evidence is emerging that the old normal of unemployment at about 5 percent during buoyant economic growth is over.
Not only are more people out of work longer, but their options are narrowing. Roughly 1.4 million people have been jobless for more than 99 weeks, the point at which unemployment benefits run out. “The situation is devastating,” said Robert Gordon, an economics professor at Northwestern and an expert on the labor market. “We are legitimately beginning to draw analogies to the Great Depression, in the sense that there is a growing hopelessness among job seekers.”
Professor Gordon doesn’t foresee a quick turnaround. But the Obama administration predicts that unemployment will drop to 8.7 percent by the end of next year, and eventually sink to 6.8 percent by the end of 2013.
To reach that level, the economy would have to add nearly 300,000 workers a month over the next three years, according to Peter Morici, a business professor at the University of Maryland. Even in the first half of the year, when the economy grew at a healthy 3 percent, it added fewer than 100,000 jobs a month.
The problem is that the American safety net, which has been looser than those in Europe, was built on the assumption that unemployment would be short term. As a result, a rethinking is in order, said Mr. Hubbard, whose new book, “Seeds of Destruction: Why the Path to Economic Ruin Runs Through Washington, and How to Reclaim American Prosperity,” is coming out this month.
The current approach, with its focus on payments over a relatively short period of time, he said, “came out of the world where unemployment was relatively temporary and then you went back to a similar position.”
“That isn’t what’s happening today.”
While he doesn’t favor extending benefits, Mr. Hubbard supports more government spending on job training as well as help for community colleges to reverse the erosion of jobs skills among the long-term unemployed.
Mr. Gross is more expansive. “We think the coma will last for years unless government policy changes to restimulate the private sector and bring unemployment down,” he said. He wants Washington to invest billions on infrastructure improvements and clean energy, along with the expanded job training favored by Mr. Hubbard.
Despite his long-held belief in free markets, smaller government and lower taxes, Mr. Gross said politicians must recognize that this time, “government is part of the solution.” He added, “In the new-normal world, there are structural problems, which require structural solutions.”
http://www.nytimes.com/2010/08/08/we...gewanted=print
=========
Boner's Repugnantly-humanitarian idea: raise retirement level. :lol.
(the Repugs will be aiming to hand SocSec funds to Wall St. I hope they run on that from now to November. Or will they lie about it like they did about hiding Iraq invasion in the 2000 election?)
People 55+ are already unemployed in very high percentage.
Boner wants them to retire from unemployment at 70 instead of 65? :lol
Hey, turns out he did know and answered.Quote:
Originally Posted by spursncowboys
Go figure.
Sorry your butt still hurts.
Don't forget about the screwed, popped-bubble mortgage market
http://www.dailyfinance.com/story/cr...ners/19582685/
It didn't take me long to know you are an idiot.Quote:
Originally Posted by ChumpDumper
Why do so many people feel sorry for those who took credit above and beyond their ability to pay?Quote:
Originally Posted by boutons_deux
Shit, when I make stupid mistakes like that, I don't ask for a bailout.
Anyone with half a brain should have see that the housing market would burst. Now I feel for those who didn't play the game, but legitimately went to buy homes thinking all was fine. Still, if they lost a job and didn't plan for such things, who are we to bail them out?
As for the people flipping houses... They carry much of the blame. I have no sympathy for them.
thats not what you said. you should have someone around to prevent you from lying about conversations that never happen.Quote:
Originally Posted by CosmicCowboy
these last few days have been your personal abortion.
It didn't take us long to know your butt still hurts.Quote:
Originally Posted by spursncowboys
"look credit above and beyond their ability to pay"
you ridicule yourself every time you post a message.
google "predatory lending",
and then google how dubya shutdown a group of 19 states who asked the Feds to stop the predatory lending. Spitzer/NY was in that group, and Spitzer kicked Greenberg out of AIG. Spitzer was a marked man on Wall St and got taken down by dubya's politicized DoJ for challenging Wall St.
We didn't hear anything from right-wing/states-rights extremists back then about the overwhelming power of the Feds, did we? Because the capitalists/Wall St finance the tea baggers/Tenthers now were benefiting from their Fed hit men.
people losing their houses now had good credit and payback ability to obtgain prime, Alt-A mortgages, and their mortgages are now beyond their ability to pay because THEY LOST THEIR FUCKING JOBS, or at best, now have jobs at less than half their salary when they bought the house.
"Anyone with half a brain should have see that the housing market would burst."
The Fed "owns" the entire US economist segment, and when Mr Fed said there's no bubble, the entire flock of compromised, compliant economists bleat in unison "there is no bubble". Only a few independent economists and economic observers said their was a bubble, but everybody had the ears stuffed full of innocuous, WRONG "irrational exuberance".
"who are we to bail them out"
They aren't being bailed out, if you kept up with how badly the banks are not re-doing the mortgages. The people are just fucked out of their homes, like farmers were in the 1930s Depression when banks grabbed 10s of 1000s of farms. aka, "disaster capitalism"
...