Unemployment rate for young explodes to 52%

Discussion in 'Politics' started by sandy, Sep 28, 2009.

  1. sandy Banned Banned

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    DOW does not like democrats. It tanked after liberals took over CONgress in 07. It tanked on inauguration day of Obama.
     
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  3. Alien Cockroach Banned Banned

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    *blinkblink*

    Excuse me, Sandy, but we may be operating under very different assumptions, here. I beg your forgiveness if I am misinterpreting you here, and do blame my own myopia here if I have you wrong; however, I am given to assume you are trying to claim that the correlation between the 2006 victories of the Democratic Party and the following economic decline means that the policies set by Congress after this time were what caused the economic decline.

    Since conventional wisdom states that a coincidence between a dangerous bubble in the housing market, rising oil costs, and speculative lending, then I submit that it would be prudent for you to explain why you believe that something else was responsible for the crisis. Otherwise, it would be very tempting for me to attribute your claim to naivette.

    In fact, Alan Greenspan has decried his own libertarian stance, in light of the severity of this recession. I do not think you understand how much political shit hit the fan when that happened. You have no idea.

    The economy did continue to tank following Barack Obama's inauguration, which happened long before anything he did had time to take effect, but the economy began to tank before he even became President-Elect.
     
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  5. sandy Banned Banned

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    The country started to tank after the liberals took over CONgress in 07. No one can deny this. It continued to tank after Obama took over and is now at the worst it has been in more than 20 years.
     
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  7. quadraphonics Bloodthirsty Barbarian Valued Senior Member

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    Lots of events undeniably occurred before the recession began: years of policy set by Bush and a Republican Congress, the moon landing, WWII, the American Revolution, my birth, the invention of beer, the Big Bang, etc.

    If you want to establish causation, it's going to take more than simply noting the time sequence of events.
     
  8. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

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    Many rich people do not like Democrats, but I asked you to name one bill that the terrible 07 congress passed without GWB signing it.

    The best you can claim is that that congress was a co-conspirator with GWB in crashing the US economy.

    Congress does not (nor did GWB, unfortunately) enforce the laws that the SEC acting have to prevented 35 to 1 leverage built on toxic trash etc.

    You can sing and dance all you like but only in ignorance of which branch of govern is supposed to enforce the laws and the fact that GWB signed the law the "terrible" (in your POV) congress07 passed.
     
  9. kmguru Staff Member

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    11,757
    The optimists will say, what goes up must come down. The question is when?
     
  10. sandy Banned Banned

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    It's not about bills. It's about DOW not liking democrats. Not in either house.
    I never claimed congress was a co-con with W. W did everything he could to keep up his great work.
     
  11. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

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    "not about bills" - strange thing for you to now state as that is all that congress can do - pass bills for POTUS to sign or veto. Yet you started out by blaming "CONgress 07" and they are ONLY about bills.

    Also the DOW is not a person, capable of liking or not. What you must mean is that many big investors do not like Democrats. So logically you are blaming those big investors, typically Republicans.

    I can agree in part with that, especially the very creative ones who manufactured the toxic assets and then build a 35 to 1 leveraged house of cards on them while GWB had the SEC on a "leash" to keep it from interfering with the big investors (mainly Republicans) you are now blaming.

    You sure have changed your tune as first you said:
    Not only can ever logical person deny that, as it is impossible if GWB, your hero, had not signed those bills. So he would share the blame, but now to keep that from being obvious, you are switching the blame to the DOW but as I note that is just a reflection of the big investors so you cannot logically blame the inanimate DOW.

    Settle down. Try to be logical and self consistent, then tell me who you think we should blame. I blame GWB and did while he still had a few years left in this term – I predicted here the present mess (and worse yet to come)* would be the unavoidable consequences of his mis-management of the economy. – It was obviously being killed by decreasing the purchasing power of Joe American’s salaries (72% of the economy) under W and Trickle Down economics building modern factories in China to close US factories. (Not to mention W starting needless wars which greatly increased the number of terrorists willing to die to drive out the occupiers of their home lands. )

    ---------------------
    * In contrast you said there would never be a recession while W was POTUS.
     
    Last edited by a moderator: Oct 2, 2009
  12. eddie23 information sponge Registered Senior Member

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    230
    HAHAHAHA now thats funny.
    The DOW doesnt like or dislike anyone. its not alive.
    Now the people controling the laws, not enforcing regulations, and funneling the nations wealth into the pockets of the top 1% could be causing the economy to suffer, and in doing so the " DOW" will fall.

    I'm not an economist but it would seem to be common sence that when all the money goes away the markets fall.
     
  13. sandy Banned Banned

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    Obama. And technically there wasn't.
    Duh. Oh, it's the evil rich's fault, huh?

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  14. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

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    Sandy, Please note that the green line (hiring workers) turned down while GWB still had two years left in his term.
    Also recall that purchasing power of Joe American's salary steadily DECLINED under GWB for first time in a century.
    Not good for an economy that is 70% based on consumer buying.

    For the first six of GWB's eight years, Joe could still use his house as an ATM machine to keep up his rate of buying but then, under GWB that ended.
    The destructive effects of GWB could no longer be post poned.
    Foreclosure rates soared, buying slumped, factories closed and the banker's assets turned into "toxic trash" freezing credit even more.
    That forcing the FED to pump out the missing cash from its printing presses.

    SUMMARY: Against facts, your opinions do not count for much.

    IMHO, Obama is coping as almost all economists recommend but as I expressed in posts while GWB still had three years in his term left:
    Only delaying the depression is possible now. GWB mortally wounded the USA. "Depression" of jobs and US production, but this time with inflation also as dollar loses most of its value.

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    Note also how the blue bars (quit job) have contracted ~50% - If you still have a job, you hold on to it. Not much of the old: "Take this jobs and shove it." spirit now.
    Also just released on CNN, not only have job losses greatly increased but the average hours worked of those with jobs has dropped to only 33.0 /week!
    That has to climb back up to near 40 before much hiring back will occur.
     
    Last edited by a moderator: Oct 2, 2009
  15. sandy Banned Banned

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    Obama should have stayed home and fixed this damn employment problem instead of pimping for the Olympics.

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  16. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

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    Brazil's president was there. - If Obama had not gone, I know what you would have said.
     
  17. sandy Banned Banned

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    No, you don't. I rallied against Chicago getting the "O"lympics. I did not want them here. Anywhere else in the country would have been fine. Not here. Not now.
     
  18. sandy Banned Banned

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    Limbaugh on Chicago: “Who knew the Olympic Committee was a bunch of racists?”

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    “When you stop to think about it, doesn’t it make sense? Our president, Barack Hussein Obama, has been running around the world for nine months telling everybody how much our country sucks…. Why would anybody award the Olympics to such a crappy place? Obama doesn’t realize that the hatred for this country has not abated. There may be some love for him, but their certainly is no respect for him. He doesn’t understand how delighted the world is to make him look foolish in order to take a swipe at our country. We’ve got a two-year-old manchild with a Mars-sized ego, which today crashed and burned. The IOC’s rejection of Chicago’s bid was a bitch-slap upside the head".

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    http://hotair.com/archives/2009/10/...the-olympic-committee-was-a-bunch-of-racists/

    Gotta love Rush.
     
  19. CheskiChips Banned Banned

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    Democrats, Republicans, whoever. It's tough to get a job right now. 3 million people are effected by it...that's a big deal.

    Blame doesn't even help. What could even be done? Stimulus hasn't worked....TWICE. It didn't work when Bush tried it, why would it work the second time with Obama?

    How about straight tax cuts?
     
  20. sandy Banned Banned

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    More tax cuts for everyone who pays. That would have helped immensely. But, no. Obama will raise taxes. Fool.
     
  21. kmguru Staff Member

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    Tax cuts would not work for this economic and business environment. We import too much and tax cut to business producers allows them to move their operation overseas. It is like a band-aid to a decapitation.:bawl:
     
  22. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

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    Good idea, but you don't go far enough. ABOLISH ALL TAXES. Pay soldiers, post men, NIH scientists, etc. with freshly printed dollars.

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    GWB's tax cuts for the already wealthy freed up trickle down funds - when taxes are abolished, just think how many more factories the trickle down can build in China! Why hell they will be so prosperous that they can afford to make a Chinese version of the Marshal Plan to keep Americans from starving.
     
    Last edited by a moderator: Oct 3, 2009
  23. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

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    Note the amount of money has doubled with the crisis.

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    Note the circulation of the money has hardly changed.
    (Velocity of money now half normal) For example, at start of GWB's first recession there existed 600B dollar and they did the work of 5000B dollars. I.e. the "velocity of money" was 5000/600 = 8.3 Or sort of as if each was spent 8.3 times before returning to the government.

    Most of the new money the FED has created has gone onto the books of financial institutions, especially banks.
    What have they done with it? Answer: Mainly bought Treasury paper as too scard to lend it out into the economy. So this new money did not buy anything in the economy or had velocity of money equal to zero.
    This with the FED's buying of Treasury paper is why interest rates are so low.
    But despite historically low rates to borrow industry is not borrowing (also too scared). - Why should they with Joe American not buying?
    They have existing idle production capacity.

    Let’s take a personal case in point:
    Jack is a 45 years old machinist (and a dam good one at that). He worked 20 years for Ajax Metal Products, but got his pink slip (one of the 263,000 in September 09). That sort of put a damper on the celibration of John, his 20 year old son finishing his education (two years in local community college + 18 months in the Machinist Union's Trade School.) John is among the 52% of young who cannot find a job.

    If and when Ajax Metal Products gets some new orders, they told Jack they would call him back, but with all the losses they have had at the salary of an inexperienced machinist. It will be a long time before Ajax Metal Products needs to hire inexperienced John.

    PS to Sandy: If you want, I can get graph with shorter time scale showing GWB's second recession officially started (grey area) while GWB was POTUS. Also, as the graph in post 51 clearly shows, the down turn in hiring started while GWB still had TWO years to go.
     
    Last edited by a moderator: Oct 4, 2009

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