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"Just a thought"
and it's still just bull .
Minimum wage ain't the problem.
"Where is Obama's exit strategy for this recession,"
read the ing papers.
Much of stimulus funds haven't been disbursed yet, but the floodgates are opening.
The dead end kidsCould it be that when they raised the minimum wage, they hurt the very same people they were going to "help"? Just a thought.
By RICHARD WILNER
Last Updated: 4:45 AM, September 27, 2009
Posted: 1:34 AM, September 27, 2009
The unemployment rate for young Americans has exploded to 52.2 percent -- a post-World War II high, according to the Labor Dept. -- meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time.
And worse, without a clear economic recovery plan aimed at creating entry-level jobs, the odds of many of these young adults -- aged 16 to 24, excluding students -- getting a job and moving out of their parents' houses are long. Young workers have been among the hardest hit during the current recession -- in which a total of 9.5 million jobs have been lost.
"It's an extremely dire situation in the short run," said Heidi Shierholz, an economist with the Washington-based Economic Policy Ins ute. "This group won't do as well as their parents unless the jobs situation changes."
Al Angrisani, the former assistant Labor Department secretary under President Reagan, doesn't see a turnaround in the jobs picture for entry-level workers and places the blame squarely on the Obama administration and the construction of its stimulus bill.
"There is no assistance provided for the development of job growth through small businesses, which create 70 percent of the jobs in the country," Angrisani said in an interview last week. "All those [unemployed young people] should be getting hired by small businesses."
There are six million small businesses in the country, those that employ less than 100 people, and a jobs stimulus bill should include tax credits to give incentives to those businesses to hire people, the former Labor official said.
"If each of the businesses hired just one person, we would go a long way in growing ourselves back to where we were before the recession," Angrisani noted.
During previous recessions, in the early '80s, early '90s and after Sept. 11, 2001, unemployment among 16-to-24 year olds never went above 50 percent. Except after 9/11, jobs growth followed within two years.
A much slower recovery is forecast today. Shierholz believes it could take four or five years to ramp up jobs again.
A study from the National Longitudinal Survey of Youth, a government database, said the damage to a new career by a recession can last 15 years. And if young Americans are not working and becoming productive members of society, they are less likely to make major purchases -- from cars to homes -- thus putting the US economy further behind the eight ball.
Angrisani said he believes that Obama's economic team, led by Larry Summers, has a blind spot for small business because no senior member of the team -- dominated by academics and veterans of big business -- has ever started and grown a business.
"The Reagan administration had people who knew of small business," he said.
"They should carve out $100 billion right now and create something like $5,000 to $6,000 job credits that would drive the hiring of young, idled workers by small business."
Angrisani said the stimulus money going to extending unemployment benefits is like a narcotic that is keeping the unemployed content -- but doing little to get them jobs.
Labor Dept. statistics also show that the number of chronically unemployed -- those without a job for 27 weeks or more -- has also hit a post-WWII high.
Where is Obama's exit strategy for this recession, besides talking about Bush?
"Just a thought"
and it's still just bull .
Minimum wage ain't the problem.
"Where is Obama's exit strategy for this recession,"
read the ing papers.
Much of stimulus funds haven't been disbursed yet, but the floodgates are opening.
Are you a business owner?
Whats going to happen when the floodgates are opened? Is unemployment going to go down to 0?
Did it ever go down to zero under Reagan?
Well Bououtons, is it?
I'll answer and say unemployment will not go down to zero when the stimulus monsy is actually spent.
Now, could you answer and say whether it went to zero under Reagan?
Unemployment never went to zero under Reagan therefore everything is just peachy now. Mmm, mmm, mmm!
You don't know just how re ed that is.
I wonder what the percentage of your posts that are emocons? 40% or is that too modest.
There is much to emote about on this board.
ok i'll play dummy. since it's obama's responsibility to get us of the this recession can we figure out who's policies started it? I would assume that we'd need to know who created this recession so we don't make the same mistake again. would that be prudent?
You are the re ed sounding one. Obama cheerleader.
Oh I understand.
You don't care if the exit strategy has any merit, you just like the phrase.
ten months into office, it is still Bush's fault. What policies exactly created this and what has Obama done differently than bush. Great job of playing dumb except I don't think you are playing.
Where did you get this from?
So the recession started when Obama got into office. This means that whatever happened prior to him caused this mess. Shouldn't we learn what caused it so we don't repeat the same policies? I know this may a bit difficult for you to wrap your head around but will you answer my question?
http://oregonstate.edu/instruct/anth484/minwage.html
You don't see a need to raise it when the real value drops 20% ?
Nah, not a cheerleader. I just wanted to find just how warped your point of view was.
Turns out it's quite a bit.
If you go back a level from the image file link, you get this a page from what looks like an Oregon State University instructor's plan called Wealth and Poverty. Wonder if it's indoctrination material, or legitimate. I'm going to scan through it.
Page of associated links:
Wealth and Poverty Links
That chart is on this link:
Minimum Wage History 1938-2009 and percent of poverty level and covered
Full employment is defined at 4.5%, not zero, but I wouldn't expect you redneck dumb s to know that.
I've read many articles about the stimulus funds arriving and saving/creating jobs, with the bulk of the stimulus funds still to arrrive.
Big example was the Clunker program, but there are many more.
Under St Ronnie, full employment was never achieved, not even close:
http://data.bls.gov/PDQ/servlet/Surv...id=LNS14000000
I don't think we'll hit full employment (4.5% unemployment) for many years. And many of the quality jobs are gone forever, the middle class hollowed out and bled to subsistence by health care ripoff.
It's classic Keynesian economics that the government spending goes up to take up the slack when non-government spending (eg, US consumer spending) goes down.
The current crisis has totally refuted the Friedman/conservative monetarist theory, where the economy is managed with money supply (Fed rate). With Fed rate at effectively 0%, the Fed can do nothing but print money and hope. No traction at all with the lever of interest rate.
The current crisis has shown the the conservative principles of free markets and deregulation are total bull .
The Repugs/conservatives are plainly wrongies in economics.
How would that affect the veracity of the chart?
You would need to show another chart showing different values for the same things.
some good premises but all the wrong conclusions.
though monetarism was proven wrong, monetarism by definition isn't free market. It's managed.
And Keynesian economics will be proven wrong as the real economy (not the government fudged GDP numbers) continues to falter.
and cash for clunkers was re ed. classic broken window fallacy.
This is from the links page:
Distributive Justice Perspectives
- A leader for justice and tolerance Southern Poverty Law Center
- For the a libertarian perspectiveCato Ins ute
- For a liberal view check out the ZNET Economic Vision
- For socioeconomic democracy try Center for the Study of Democratic Societies
- Socialist Party, USA or World Socialist Web Site
- Or check out the Utne Reader on new economic trends
- For lots of useful links see Ralph Nader
The SPLC is a leader for justice and tolerance? Yeah and Al Jazeer is unbiased media reporting. Socioeconomic democracy? How can communism have the word democracy. I bet this clown doesn't even bring up Milton Friedman or Thomas Sowell but will link three commie website for propaganda.
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