What happened to all of the doom and gloom economic threads?

[Johnny_Ray_Wilson]

Bush didn't give us 80 months of prosperity. Clinton deregulated the banks and allowed them to play crazy self feeding loops that just happened to detonate when a Democratic Congress showed up.

Agreed. Deregulation began progressively in the mid-70s. Clinton and a Republican congress jointly deregulated the banking business in 1999. Until '99 banks deregulation was restricted to certain businesses.

 

[Johnny_Ray_Wilson]

Jobs lost in 2008:http://money.cnn.com/2009/01/09/news/economy/jobs_december/index.htm

7.2 million lost since 2007.http://news.bbc.co.uk/2/hi/business/8448715.stm

Obama was elected president in November, 2008. He officially took office in January, 2009. Correct?

Look at the numbers people.

 

[Johnny_Ray_Wilson]

Agreed. Deregulation began progressively in the mid-70s. Clinton and a Republican congress jointly deregulated the banking business in 1999. Until '99 banks deregulation was restricted to certain businesses.

And who became US President (Republican) in 1999 for the next 8 years?

 

[firespin]

And who became US President (Republican) in 1999 for the next 8 years?

I'm drawing a blank on a 1999 inauguration somehow....

 

[Johnny_Ray_Wilson]

I'm drawing a blank on a 1999 inauguration somehow....

Do not feel bad. I was drunk from '99 until Obama's inauguration replays on PBS in 2009.

 

[unregistered]

 

[jeninflorida]

What's funny about those numbers is that they're getting smaller every month. Isn't that supposed to be a good thing?

true, but how many gave up looking...and how many are now working for the government?

 

[Ulaven_Demorte]

I wonder if UD is listening to Greenspan's testimony today about the cause of the housing crisis....well are you?

Some of us have important things to do. You know, like jobs.. school.. and can't afford to sit around stroking ourselves while listening to someone who had a pretty big hand (massive understatement here) in making the mess we're climbing out of now.

I'm sure he's trying his best to absolve himself of any and all responsibility for the housing collapse despite all evidence to the contrary.

 

[unregistered]

 

[unregistered]

 

[unregistered]

 

[cebalrai]

true, but how many gave up looking...and how many are now working for the government?

Someone's been listening to Glenn Beck again...

 

[unregistered]

 

[firespin]

*Yawn*

WEEKLY JOBLESS CLAIMS CLIMB 18K TO 460K

We keep paying people not to work.

http://www.washingtonpost.com/wp-dyn/content/article/2010/03/08/AR2010030804927.html

"About 11.4 million out-of-work people now collect unemployment compensation, at a cost of $10 billion a month. Half of them have been receiving payments for more than six months, the usual insurance limit. But under multiple extensions enacted by the federal government in response to the downturn, workers can collect the payments for as long as 99 weeks in states with the highest unemployment rates -- the longest period since the program's inception. "

 

[unregistered]

 

[The_Trouvere]

We keep paying people not to work.

http://www.washingtonpost.com/wp-dyn/content/article/2010/03/08/AR2010030804927.html

"About 11.4 million out-of-work people now collect unemployment compensation, at a cost of $10 billion a month. Half of them have been receiving payments for more than six months, the usual insurance limit. But under multiple extensions enacted by the federal government in response to the downturn, workers can collect the payments for as long as 99 weeks in states with the highest unemployment rates -- the longest period since the program's inception. "

For every job opening there are five or six people actively looking for work. What should happen to the people who can't find jobs?

 

[firespin]

For every job opening there are five or six people actively looking for work. What should happen to the people who can't find jobs?

That's hardly true. There may be people competing for certain kinds of jobs, or in certain areas, but there are lots of vacancies out there. People don't want to take them, they'd rather wait for something better, and that's their choice, but they should self-finance that.

 

[geronimo_appleby]

For every job opening there are five or six people actively looking for work. What should happen to the people who can't find jobs?

they could shovel snow?

 

[JohnnySavage]

they could shovel snow?

There is very little self-reliance left in America. We have a culture where most people think someone else should take care of them - whether it's their boss/company or the government. About the only people who can live by their wits anymore are the immigrants who come here with nothing but a hard work ethic, take any job available, and eventually build themselves up.

 

[cebalrai]

Just pointing out that the multiple extensions on the unemployment cap have broad republican support. Except for the occasional Mitch McConnell who holds out for three days here and there.

 

[Ulaven_Demorte]

That's hardly true. There may be people competing for certain kinds of jobs, or in certain areas, but there are lots of vacancies out there. People don't want to take them, they'd rather wait for something better, and that's their choice, but they should self-finance that.

Lovely.

After GOP economic policy drove the job market into the ground it's supposed to be every man for himself.

There aren't that many openings out there, at least none that employers want to fill yet. The job situation is just starting to recover after losing millions of jobs. Hiring is picking up but those who are out of work may continue to be unemployed for some time now. It's going to take some time to reclaim the number of jobs lost. But you know this..

I posted two entry level jobs two weeks ago and had more applicants than I could ever interview. People with degrees applying for a $10 per hour job. Most aren't holding out for a certain job, they're trying to get any job they can.

 

[Beco]

There is very little self-reliance left in America. We have a culture where most people think someone else should take care of them - whether it's their boss/company or the government. About the only people who can live by their wits anymore are the immigrants who come here with nothing but a hard work ethic, take any job available, and eventually build themselves up.

It's not " we", its various sectors of our society. Don't lump in every person that is a citizen of the US into that.

 

[unregistered]

 

[Sean Renaud]

You're kind of ignoring that where we were wasn't where we were supposed to be.

Regardless of who you blame for the housing bubble it's still very real. I for example know that it was all Clinton's fault and Bush just happened to be around for it. That said the economy was built on a housing market, the housing market was built on investment bubbles that were in turn sold to people who couldn't afford to pay them back. Those same people were able to use there houses for various things (not to mention the surge in construction to get homes to those people) and the whole thing was a self feeding loop.

You might as well talk about how we are seeing less home runs now that the MLB is testing for steriods and then tell me all about how players aren't up to par anymore.

 

[The_Trouvere]

We'll have to pick up 250,000 jobs a month for the next three straight years to get anywhere near where we were.

And even more than that to get us to where we were when Bill Clinton left office.

Don't pretend you care. A jobless recovery is good for employers and investors.