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Unemployment Rate Down to 7.5%

royalpaladin
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5/4/2013 5:56:31 AM
Posted: 3 years ago
WASHINGTON -- The labor market rebounded last month as the U.S. economy added 165,000 net new jobs and the unemployment rate dropped to 7.5%, its lowest level in more than five years, the Labor Department said Friday.

The April jobs figure exceeded analyst expectations of about 148,000 net new jobs and helped counter concerns that hiring was significantly slowing after a disappointing report in March.

The government also issued major upward revisions for job creation in March and February.

The initially disappointing 88,000 figure for March was revised to a more respectable 138,000. The February figure was revised up to 332,000 from the initial report of 268,000. That was the most new jobs added in a month since May 2010.

The private sector added 176,000 net new jobs in April, led by a gain of 73,000 in professrional and business service industry positions, the Labor Department report said. However, government shed 11,000 jobs, with the federal workforce down 8,000 positions.

The unemployment rate ticked down last month from 7.6% in March. The 7.5% rate for April was the lowest since December 2008.

Quiz: How much do you know about California's economy?

"With an increase of 165,000 jobs in April, and following the significant upward revisions for February and March, the job market looks better than expected despite the sequester or issues like the rising cost of providing healthcare benefits," said Kathy Bostjancic, director of macroeconomic analysis at the Conference Board.

The economic recovery has been showing signs of slowing as tax increases, the federal spending cuts known as the sequester and the European recession combine as obstacles to growth.

The U.S. economy expanded at a 2.5% annual rate in the first three months of the year, a marked improvement over the 0.4% growth in the last quarter of 2012. But the figure was below expectations, and analysts forecast that growth will slow to about 1% in the second quarter of this year before picking up again.

Economic reports in recent days have been weak, although initial jobless claims dropped last week to their lowest level in more than five years.

Amid concerns about the pace of the recovery, Federal Reserve policymakers said for the first time this week that they were prepared to increase their controversial stimulus efforts.
royalpaladin
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5/4/2013 5:58:55 AM
Posted: 3 years ago
By the way, I know some of you like to claim that this is measured by looking at how many people apply for unemployment benefits, but that is nothing more than propaganda that was invented by the Republican politicians. Since 1940, the CPA has been conducting randomized interviews every month to ask people about their employment status. If you have evidence the contrary, I would like to see it before you start spouting propaganda.

http://www.bls.gov...
Greyparrot
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5/4/2013 9:46:51 AM
Posted: 3 years ago
it's a stupid statistic.

Creating crappy unproductive jobs for half the unemployed while the other half move back in with their parents and file for foodstamps and an Obamaphone is not hope and change for anyone but China.
Kleptin
Posts: 5,095
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5/4/2013 9:50:30 AM
Posted: 3 years ago
At 5/4/2013 9:46:51 AM, Greyparrot wrote:
it's a stupid statistic.

Creating crappy unproductive jobs for half the unemployed while the other half move back in with their parents and file for foodstamps and an Obamaphone is not hope and change for anyone but China.

Agreed. You can't really fool anyone with these types of statistics anymore, not when people are still physically feeling the economy.
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DoubtingDave
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5/4/2013 10:05:01 AM
Posted: 3 years ago
At 5/4/2013 9:50:30 AM, Kleptin wrote:
At 5/4/2013 9:46:51 AM, Greyparrot wrote:
it's a stupid statistic.

Creating crappy unproductive jobs for half the unemployed while the other half move back in with their parents and file for foodstamps and an Obamaphone is not hope and change for anyone but China.

Agreed. You can't really fool anyone with these types of statistics anymore, not when people are still physically feeling the economy.

Agreed. My mom was just laid off a few weeks ago and her company is getting ready to close down.

In all reality, the real unemployment rate is still over 10%
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wrichcirw
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5/4/2013 10:08:16 AM
Posted: 3 years ago
At 5/4/2013 5:56:31 AM, royalpaladin wrote:
WASHINGTON -- The labor market rebounded last month ...

You need to provide a link, otherwise this is easily plagiarism.
At 8/9/2013 9:41:24 AM, wrichcirw wrote:
If you are civil with me, I will be civil to you. If you decide to bring unreasonable animosity to bear in a reasonable discussion, then what would you expect other than to get flustered?
lewis20
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5/4/2013 10:22:47 AM
Posted: 3 years ago
Goldman Sachs elevator gossip likened the fed releasing unemployment numbers to a kid writing his own report card ha
Real unemployment is still abysmal, market growth driven by central bank liquidity with no where else to go
Side note my mom got her job cut to 29 hours thanks to obamacare so that's not doing any favors
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DoubtingDave
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5/4/2013 10:43:56 AM
Posted: 3 years ago
At 5/4/2013 10:19:03 AM, dylancatlow wrote:
Spain's unemployment is 26.2%. Wtf.

That's the failure of their big government and overregulation
The Great Wall of Fail

"I have doubts that anti-semitism even exists" -GeoLaureate8

"Evolutionists think that people evolved from rocks" -Scotty

"And whats so bad about a Holy war? By Holy war, I mean a war which would aim to subdue others under Islam." -Ahmed.M

"The free market didn't create the massive wealth in the country, WW2 did." -malcomxy

"Independant federal regulators make our capitalist society possible." -Erik_Erikson
lewis20
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5/4/2013 10:59:17 AM
Posted: 3 years ago
Spain's youth unemployment is something like 50 %, big riots in Madrid and places.
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000ike
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5/4/2013 12:35:17 PM
Posted: 3 years ago
At 5/4/2013 9:46:51 AM, Greyparrot wrote:
it's a stupid statistic.

Creating crappy unproductive jobs for half the unemployed while the other half move back in with their parents and file for foodstamps and an Obamaphone is not hope and change for anyone but China.

lol artful regurgitation of conservative talking points. Sounds like it came out of a machine.
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Wallstreetatheist
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5/4/2013 1:05:05 PM
Posted: 3 years ago
So that means the real unemployment is about 15%. 7.5% is still very high, a symptom of government intervention. As economics demonstrates, creating government jobs doesn't just destroy the same amount of jobs in the productive sector, it destroys more due to the inefficiency of (1) violently collecting the money to pay those employees and (2) the inefficiency that those government employees cause to the productive sector.
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Koopin
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5/4/2013 1:24:32 PM
Posted: 3 years ago
At 5/4/2013 9:46:51 AM, Greyparrot wrote:
it's a stupid statistic.

Creating crappy unproductive jobs for half the unemployed while the other half move back in with their parents and file for foodstamps and an Obamaphone is not hope and change for anyone but China.

+1

(Do we still +1 on this site?)
kfc
OberHerr
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5/4/2013 1:27:28 PM
Posted: 3 years ago
At 5/4/2013 1:24:32 PM, Koopin wrote:
At 5/4/2013 9:46:51 AM, Greyparrot wrote:
it's a stupid statistic.

Creating crappy unproductive jobs for half the unemployed while the other half move back in with their parents and file for foodstamps and an Obamaphone is not hope and change for anyone but China.

+1

(Do we still +1 on this site?)

+2
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jimtimmy2
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5/4/2013 2:41:00 PM
Posted: 3 years ago
I don't see what your point here is royal.

The fact is that reality has rejected statist, socialist economics.

They have failed in and out of the USA.

Stop acting like this somehow confirms socialist economics.
Contra
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5/4/2013 2:54:12 PM
Posted: 3 years ago
At 5/4/2013 10:22:47 AM, lewis20 wrote:
Goldman Sachs elevator gossip likened the fed releasing unemployment numbers to a kid writing his own report card ha
Real unemployment is still abysmal, market growth driven by central bank liquidity with no where else to go
Side note my mom got her job cut to 29 hours thanks to obamacare so that's not doing any favors

Yeah these economic changes are probably just caused by the expansion of the monetary base and quantitative easing. In other words, not real growth unfortunately.
"The solution [for Republicans] is to admit that Bush was a bad president, stop this racist homophobic stuff, stop trying to give most of the tax cuts to the rich, propose a real alternative to Obamacare that actually works, and propose smart free market solutions to our economic problems." - Distraff

"Americans are better off in a dynamic, free-enterprise-based economy that fosters economic growth, opportunity and upward mobility." - Paul Ryan
Khaos_Mage
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5/4/2013 3:27:45 PM
Posted: 3 years ago
At 5/4/2013 5:58:55 AM, royalpaladin wrote:
By the way, I know some of you like to claim that this is measured by looking at how many people apply for unemployment benefits, but that is nothing more than propaganda that was invented by the Republican politicians.

I would like you to supply a source to this. I have never heard a politician or pundit say this. Anyone who knows anything about it knows that it is measured by:
those looking for work / (those looking for work + those who are working)

Often people look at the number of people in the labor force to combat the improvemnt in this figure.
For example: if there are 9 people looking for work and 91 people employed, unemployment would be 9% (9/(9+91)). However, if three of these people decide to go to school and cease looking for work, the unemployment rate drops to 6.2% (6/97).
Of course, this works both ways, and if using the first figure, if ten people retire, and those jobs are not replaced, then the unemployment jumps to 10% (9/90).

Are you confusing criticism of the statistic with using new and existing unemployment benefit claims to counter the lowered unemployment, or at least to not paint such a rosy picture?

For example, if unemployment were to drop 0.2%, 60,000 jobs were created, and 50,000 people filed for new benefits, it would imply that either people are leaving the workforce (retiring or not looking for work) or the new jobs are part time (you can still get unemployment benefits while working).

Since 1940, the CPA has been conducting randomized interviews every month to ask people about their employment status. If you have evidence the contrary, I would like to see it before you start spouting propaganda.
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Eitan_Zohar
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5/4/2013 4:36:49 PM
Posted: 3 years ago
I don't understand why people think this is leftist stuff. I mean, I wouldn't put it past royal to believe it herself, but still.
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16kadams
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5/4/2013 9:40:27 PM
Posted: 3 years ago
Look up zarowitzes law. The fact we barely got to 7.5% doesn't say much. It actually shows failure.

Also see Milton Friedmans Plucking model.
https://www.youtube.com...
https://rekonomics.wordpress.com...
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Subutai
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5/4/2013 9:51:35 PM
Posted: 3 years ago
So? This still makes it the worst recovery in modern (post-WWII) history.
I'm becoming less defined as days go by, fading away, and well you might say, I'm losing focus, kinda drifting into the abstract in terms of how I see myself.
DanT
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5/4/2013 10:03:17 PM
Posted: 3 years ago
Pro's
Higher Wages
Stronger Dollar
Cheaper Imports
Con's
Labor Shortage
Higher Interest Rates
More Expensive Exports

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GWL-CPA
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5/5/2013 12:39:26 AM
Posted: 3 years ago
The real unemployment rate is over 20%. Our government is doing nothing about the fact that over 20 million jobs have been outsourced to third world toilets, e.g., Mexico, China, and India. Congress should pass laws requiring that all those jobs be brought back to America, and making outsourcing illegal. No call centers or any jobs can be outsourced.

HERE'S THE REAL UNEMPLOYMENT RATE
NEW YORK " The real unemployment rate for December 2012 is closer to 23 percent, not the 7.8 percent reported by the Bureau of Labor Statistics, according to economist John Williams.
Read more at http://www.wnd.com...

The current economic mess in America was caused by George Bush, and two unfunded wars, the deregulation of the banks, lack of sufficient regulation of mortgage banks and investment firms, and wild speculative mortgage derivatives trading. George Bush and the Republican Party are all about protecting the wealthy and screwing the middle class and poor. It started with Cowboy Ronnie Reagan, a total looser with his stupid supply-side economics and the cutting of income tax rates on the wealthy to the lowest level since the Hoover administration in 1930.

Our government is corrupt and most likely not fixable. It is ruled by the wealthy. Most members of Congress are wealthy and they will not pass laws that will hurt their wealth or the wealth of those who fund their campaigns - the Plutocracy - the top 1%.

Companies like Apple should be kicked out of America because they manufacture everything in China. Microsoft, General Electric, and thousands more companies should be forced to bring all outsourced jobs back to America or be taken over by the government under eminent domain and sold to investors that will keep those jobs in America. All American companies should be forced to manufacture all products in America; or be tariffed at rates that make it unprofitable to manufacture elsewhere.

America's work visa program should be cancelled. Laws should be passed prohibiting any company from hiring a foreigner if there is one unemployed American that can do that job; and, there should be a Federal agency that enforces this and fines any American company breaking this law millions of dollars. Canada has laws that prohibit the hiring of foreigners if there are Canadians that can do the jobs. If Canada can protect its jobs from foreigners, America should be able to do that too. This means no more programmers from India for born with silver spoon in his mouth Bill Gates, who is a traitor to America. No more employees from India for Accenture, or Aon-Hewitt, or any American Companies if there are Americans that can do those jobs.

All 11 to 20 million illegal immigrants need to be send back to Mexico yesterday. The controls over hiring of illegal aliens need to be increased 500% and thousands of more raids on employers need to be done daily, especially in the hospitality industries. And, fines and penalties for violating employers need to be substantial, with second offender going to jail and their companies taken over the government, and that include McDonalds, Taco Bell, etc. No more illegals doing lawn care or working for construction companies, or house builders or working cleaning houses or taking care of kids, etc.

The Border Fence needs to be completed and manned with 40,000 more troops doing patrols 24-7 with armored Humvees with 50-cal machine guns, and guard towers with search lights every one-half mile. That last thing America needs is more illegal aliens from Mexico.

The minimum wage needs to be raised to $15 per hour for all employees in all states and be required for all employers, even shops with only one or two employees.

All Hedge funds and futures trading need to be eliminated. And, all stock needs to be purchased back (retired) my corporations; then all corporations need to become employee owned. Then the stock market needs to be shut down. Corporations can sell bonds to raise money or borrow from banks. Trading of stocks, futures, options on futures, etc. is just gambling for the wealthy.

Everyone making over 1 million per year should be taxed at 90% on every dollar over one million. All tax loopholes for the wealthy, trusts and estates should be removed. All estates and trusts over ten million dollars should be taxed at 95% of that value, and annually at marginal tax rates up to 90%. Dividends and capital gains need to be taxed at marginal rates up to 90% and be subject to FICA. Multimillionaires will no longer pay less income tax as a percent of taxable income than their secretaries.

And, finally, we need Universal Health Care, just like Canada's, but better. The Affordable Health Care Act is not enough; we need Universal Health Care, which should include Dental and Eye Care. Universal Health Care works great in Canada and their businesses do fine. And, I know this for a fact because I was a consultant in Canada and lived there for six months, where I met my wife. She got to see her family doctor whenever she wanted and specialists. The far right and TV stations like FOX News spread many lies about Canada"s Universal Health Care, which is better than any care you can get in America, unless you are very wealthy.

Socialism is the only system that can work in the USA or the world for that matter. Capitalism is death and only benefits the wealthy.

If all this is done, unemployment will not be a problem ever again. All Americans will share in the wealth and everyone will have health care. American will once again be great and not just great for the wealthy.
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imabench
Posts: 21,230
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5/5/2013 3:37:09 PM
Posted: 3 years ago
I went ahead and bolded all the retarded stuff which Ill be saving for the next Weekly Stupid

At 5/5/2013 12:39:26 AM, GWL-CPA wrote:

Companies like Apple should be kicked out of America because they manufacture everything in China.

All American companies should be forced to manufacture all products in America; or be tariffed at rates that make it unprofitable to manufacture elsewhere.

Laws should be passed prohibiting any company from hiring a foreigner if there is one unemployed American that can do that job; and, there should be a Federal agency that enforces this and fines any American company breaking this law millions of dollars.

This means no more programmers from India or born with silver spoon in his mouth Bill Gates, who is a traitor to America.

The controls over hiring of illegal aliens need to be increased 500% and thousands of more raids on employers need to be done daily

And, fines and penalties for violating employers need to be substantial, with second offender going to jail and their companies taken over the government, and that include McDonalds, Taco Bell, etc.

The minimum wage needs to be raised to $15 per hour for all employees in all states and be required for all employers, even shops with only one or two employees.

And, all stock needs to be purchased back (retired) my corporations; then all corporations need to become employee owned. Then the stock market needs to be shut down.

Everyone making over 1 million per year should be taxed at 90% on every dollar over one million.

Socialism is the only system that can work in the USA or the world for that matter. Capitalism is death and only benefits the wealthy.
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Contra
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5/5/2013 4:35:59 PM
Posted: 3 years ago
At 5/5/2013 12:39:26 AM, GWL-CPA wrote:

You know, by increasing the prices of nearly all goods and services, you will crush the economy and many of the poor, as well as the middle class.

Here are some facts.

A total of 95% of the world's consumers live outside of the United States. America's industries and firms simply cannot grow and create more jobs if America doesn't reach out to the world's consumers through trade, investment, and economic exchange.

Trade supports 38 million American jobs, or more than one in every five.

(http://www.freeenterprise.com...)

If we want to thrive from free trade, America needs to have a competitive economy. By simplifying and streamlining government, cutting business restrictions and regulations, and by cutting the corporate tax rate to a low flat rate, America can compete and win when it comes to trade.

And, finally, we need Universal Health Care, just like Canada's, but better. The Affordable Health Care Act is not enough; we need Universal Health Care, which should include Dental and Eye Care. Universal Health Care works great in Canada and their businesses do fine. And, I know this for a fact because I was a consultant in Canada and lived there for six months, where I met my wife. She got to see her family doctor whenever she wanted and specialists. The far right and TV stations like FOX News spread many lies about Canada"s Universal Health Care, which is better than any care you can get in America, unless you are very wealthy.

I don't think this is true. I don't think you were a victim of their waiting lines.

Socialism is the only system that can work in the USA or the world for that matter. Capitalism is death and only benefits the wealthy.

Now you have gone insane. Free markets are a superior form of economic exchange. Central planning failed in the Soviet Union, it will fail wherever else tried, at least in comparison to other systems.

If all this is done, unemployment will not be a problem ever again. All Americans will share in the wealth and everyone will have health care. American will once again be great and not just great for the wealthy.
"The solution [for Republicans] is to admit that Bush was a bad president, stop this racist homophobic stuff, stop trying to give most of the tax cuts to the rich, propose a real alternative to Obamacare that actually works, and propose smart free market solutions to our economic problems." - Distraff

"Americans are better off in a dynamic, free-enterprise-based economy that fosters economic growth, opportunity and upward mobility." - Paul Ryan
Greyparrot
Posts: 14,335
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5/6/2013 1:19:04 AM
Posted: 3 years ago
At 5/5/2013 4:35:59 PM, Contra wrote:
At 5/5/2013 12:39:26 AM, GWL-CPA wrote:

You know, by increasing the prices of nearly all goods and services, you will crush the economy and many of the poor, as well as the middle class.

Here are some facts.

A total of 95% of the world's consumers live outside of the United States. America's industries and firms simply cannot grow and create more jobs if America doesn't reach out to the world's consumers through trade, investment, and economic exchange.

Trade supports 38 million American jobs, or more than one in every five.

(http://www.freeenterprise.com...)

If we want to thrive from free trade, America needs to have a competitive economy. By simplifying and streamlining government, cutting business restrictions and regulations, and by cutting the corporate tax rate to a low flat rate, America can compete and win when it comes to trade.

And, finally, we need Universal Health Care, just like Canada's, but better. The Affordable Health Care Act is not enough; we need Universal Health Care, which should include Dental and Eye Care. Universal Health Care works great in Canada and their businesses do fine. And, I know this for a fact because I was a consultant in Canada and lived there for six months, where I met my wife. She got to see her family doctor whenever she wanted and specialists. The far right and TV stations like FOX News spread many lies about Canada"s Universal Health Care, which is better than any care you can get in America, unless you are very wealthy.

I don't think this is true. I don't think you were a victim of their waiting lines.

Socialism is the only system that can work in the USA or the world for that matter. Capitalism is death and only benefits the wealthy.

Now you have gone insane. Free markets are a superior form of economic exchange. Central planning failed in the Soviet Union, it will fail wherever else tried, at least in comparison to other systems.

If all this is done, unemployment will not be a problem ever again. All Americans will share in the wealth and everyone will have health care. American will once again be great and not just great for the wealthy.

Basically the guy said "we can't compete on a global scale, so we are just going to take our ball and go home."

great.
royalpaladin
Posts: 22,357
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5/6/2013 6:26:09 AM
Posted: 3 years ago
At 5/4/2013 2:54:12 PM, Contra wrote:
At 5/4/2013 10:22:47 AM, lewis20 wrote:
Goldman Sachs elevator gossip likened the fed releasing unemployment numbers to a kid writing his own report card ha
Real unemployment is still abysmal, market growth driven by central bank liquidity with no where else to go
Side note my mom got her job cut to 29 hours thanks to obamacare so that's not doing any favors

Yeah these economic changes are probably just caused by the expansion of the monetary base and quantitative easing. In other words, not real growth unfortunately.

Growth is growth. Is "growth" for you equivalent to "trillionaires make even more money?"
Contra
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5/6/2013 1:23:25 PM
Posted: 3 years ago
At 5/6/2013 6:26:09 AM, royalpaladin wrote:
At 5/4/2013 2:54:12 PM, Contra wrote:
At 5/4/2013 10:22:47 AM, lewis20 wrote:
Goldman Sachs elevator gossip likened the fed releasing unemployment numbers to a kid writing his own report card ha
Real unemployment is still abysmal, market growth driven by central bank liquidity with no where else to go
Side note my mom got her job cut to 29 hours thanks to obamacare so that's not doing any favors

Yeah these economic changes are probably just caused by the expansion of the monetary base and quantitative easing. In other words, not real growth unfortunately.

Growth is growth. Is "growth" for you equivalent to "trillionaires make even more money?"

The Federal Reserve is just printing huge layers of money, which is accumulated by the rich and by the big businesses. It creates a potential for inflation, but the uncertain regulatory environment promulgated by the Obama administration has prevented this.

Real economic growth means more production of what people demand. More goods in a society and more productivity. Since goods are more abundant, people overall are wealthier.

We have a facade of inflated money, not real economic growth associated with expanding production and entrepreneurship.
"The solution [for Republicans] is to admit that Bush was a bad president, stop this racist homophobic stuff, stop trying to give most of the tax cuts to the rich, propose a real alternative to Obamacare that actually works, and propose smart free market solutions to our economic problems." - Distraff

"Americans are better off in a dynamic, free-enterprise-based economy that fosters economic growth, opportunity and upward mobility." - Paul Ryan
lewis20
Posts: 5,093
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5/6/2013 9:58:53 PM
Posted: 3 years ago
At 5/6/2013 6:26:09 AM, royalpaladin wrote:
At 5/4/2013 2:54:12 PM, Contra wrote:
At 5/4/2013 10:22:47 AM, lewis20 wrote:
Goldman Sachs elevator gossip likened the fed releasing unemployment numbers to a kid writing his own report card ha
Real unemployment is still abysmal, market growth driven by central bank liquidity with no where else to go
Side note my mom got her job cut to 29 hours thanks to obamacare so that's not doing any favors

Yeah these economic changes are probably just caused by the expansion of the monetary base and quantitative easing. In other words, not real growth unfortunately.

Growth is growth. Is "growth" for you equivalent to "trillionaires make even more money?"

The way its going now the wealthy and bakers are making out like bandits, that free money flowing in isn't going to the common man, just making his paycheck a little less valuable every year.
Inflation is a hidden tax that hurts the little guy and helps the wealthy
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler