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Real jobless rate 20 percent.

Dr_Obvious
Posts: 551
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10/3/2014 10:07:13 AM
Posted: 2 years ago
The Labor Department on Friday is expected to report the economy added about 215,000 jobs in September, about half of what is needed each month to bring unemployment down to pre-financial crisis levels.

The official unemployment rate is 6.1 percent, but that hardly provides a fair description of the jobs crisis.

Not counted are prime working-age adults who have quit looking for a job, part-time workers who want full-time positions, and young college graduates who have enrolled in graduate school because they can"t find decent employment.

The real jobless rate is likely closer to 20 percent, and the root cause is slow economic growth.

Since 2000, GDP has advanced 1.7 percent annually, about half the pace of the Reagan-Clinton years.

Five factors are slowing growth and making jobs scarce.

1. Poorly Enforced Trade Agreements

U.S. consumers and businesses are spending, but too many dollars go abroad to pay for Chinese consumer goods and Middle East oil.

China has systematically undervalued their currencies to put cheap goods into U.S. markets, destroying millions of good-paying American manufacturing jobs. Presidents Bush and Obama have refused to enforce WTO rules that prohibit currency manipulation to gain competitive advantage.

2. Misguided Energy Policies

Washington has chosen to outsource " not reduce " environmental risks associated with petroleum development by prohibiting or curtailing production off the Atlantic, Pacific and Gulf Coasts and in Alaska.

Safely developing those resources, along with prudent conservation, would slash oil imports to zero and create millions of jobs.

3. Burdensome Government Regulations and Taxes

U.S. business regulations are more costly than necessary to protect consumers and accomplish environmental goals. Along with U.S. efforts to curtail CO2 emissions, while China, India and others refuse to do the same, those send American jobs to Asia.

The U.S. corporate tax is among the highest in the world. Along with arbitrary taxes on overseas profits, high rates motivate U.S. businesses to relocate abroad and discourage foreign investment in the United States.

4. Corruption and Monopolies

Whereas deregulation was the theme of the Reagan-Clinton era, today"s leaders appear not to value a vibrant private sector and spirited competition. They offer special privileges that permit Wall Street banks, cable companies, medical insurers and rural hospitals, pharmaceutical companies, and the like to monopolize markets and gouge customers in exchange for big campaign contributions and lucrative jobs after public officials leave office.

This corruption breeds inefficiency, limits production and innovation, and kills jobs.

5. Disincentives to Work, Poorly Run Universities and Immigration

In recent decades, we have seen a substantial expansion of public benefits that discourage work through the Earned Income Tax Credit, Social Security disabilities program, Medicare drug benefits, Medicaid, Obamacare, and student grants and loans.

Increasingly colleges and universities attract students by spending heavily on athletic arenas, flashy student centers and other resort amenities. To finance sports spectacles, evening yoga lessons, and ever larger salaries for presidents and coaches, universities jack up tuition and shuffle students into cheap to staff majors, such as art history and sociology, while limiting access to programs with better career potential, like engineering and finance. Too many graduates lack career ready skills and are burdened with excessive debt.

Thanks to the combination of work disincentives and poor career training, nearly all the jobs created in this century have gone to immigrants. At the low end, they take jobs government benefits programs encourage lower-skilled Americans to refuse, and at the high end, immigrants take jobs many college graduates are unqualified to fill.

Just eliminating the trade deficit would double U.S. economic growth. Addressing the other problems would easily boost growth to 5 percent a year, and Americans would have all the good paying jobs they want and plenty more for new arrivals.

http://www.newsmax.com...
Contra
Posts: 3,941
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10/3/2014 6:30:55 PM
Posted: 2 years ago
The 'real' unemployment rate (the U6 Unemployment Rate) is actually 11.8%, not 20%. (http://www.bls.gov...)

Furthermore, although I pretty much agree with your assessment, how do we reduce the trade deficit is an important question. Increasing savings and investment, not enacting protectionist policies, I believe is the way.

Also, just because China has manipulated its currency, is this actually a bad thing? More affordable goods and services are beneficial for the domestic economy.

Furthermore, we are both printing more money, and selling debt to foreign creditors nations, both of which undermine our efforts to increase our exports (because both reduce the value of our currency and therefore drive up the costs of American products).
"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
TryingToBeOpenMinded
Posts: 201
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10/3/2014 9:43:29 PM
Posted: 2 years ago
I'm sorry Dr. Obvious but there are too many things that I disagree with you in your post. You're completely way off base on so many important points. The economy doesn't work like you think it does.

1. Creation of jobs isn't necessarily a good thing.

2. Jobs going overseas is bad short-term but usually good in the long-term.

3. Just because China doesn't protect the environments, it doesn't mean we shouldn't either.

4. I agree that programs that are too socialist discourage work but we are not even close to that point. (This is obviously my opinion.)

Your opinions sound so Republican. All about short-term profits without thinking of the long-term consequences and the true dynamics of the economy.
sadolite
Posts: 8,834
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10/3/2014 11:48:06 PM
Posted: 2 years ago
Everything is great. Obama said so.
It's not your views that divide us, it's what you think my views should be that divides us.

If you think I will give up my rights and forsake social etiquette to make you "FEEL" better you are sadly mistaken

If liberal democrats would just stop shooting people gun violence would drop by 90%
LogicalLunatic
Posts: 1,633
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10/4/2014 12:20:42 AM
Posted: 2 years ago
At 10/3/2014 11:48:06 PM, sadolite wrote:
Everything is great. Obama said so.

Amen my brother in the holy Relijun of Librulisum!!!!!!!!!!!
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Bulproof formally admits to being a troll (Post 16):
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Contra
Posts: 3,941
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10/4/2014 1:44:40 PM
Posted: 2 years ago
At 10/3/2014 9:43:29 PM, TryingToBeOpenMinded wrote:
I'm sorry Dr. Obvious but there are too many things that I disagree with you in your post. You're completely way off base on so many important points. The economy doesn't work like you think it does.

1. Creation of jobs isn't necessarily a good thing.

2. Jobs going overseas is bad short-term but usually good in the long-term.

3. Just because China doesn't protect the environments, it doesn't mean we shouldn't either.

4. I agree that programs that are too socialist discourage work but we are not even close to that point. (This is obviously my opinion.)

Your opinions sound so Republican. All about short-term profits without thinking of the long-term consequences and the true dynamics of the economy.

I think that Dr. Obvious knows that job outsourcing can be beneficial in the long-term, many people who are acquainted would agree with this. I think his point was that a good portion of job outsourcing is unnecessary and is the consequence of poorly designed government policies, such as business regulation, monetary policy, taxation, etc.

I mean, if we had a competitive corporate tax rate, a well-funded infrastructure, and a highly skilled workforce, job outsourcing wouldn't be as attractive. American factories could produce lawn mowers or automobiles (indeed, contrary to popular assumptions, many already are). The higher relative wages of U.S. workers is just the compensation for their higher productivity. We could have a comparative advantage in producing many products because our nation has the highest productivity levels in the world...
"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