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Thread: Horror for US Economy as Data Falls off Cliff

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    Re: Horror for US Economy as Data Falls off Cliff

    today:

    The labor force — those who have a job or are looking for one — is getting smaller, even though the economy is growing and steadily adding jobs. That trend defies the rules of a normal economic recovery. Nobody is sure why it's happening. Economists think some of the missing workers have retired, have entered college or are getting by on government disability checks. Others have probably just given up looking for work.

    By the government's definition, if you quit looking, you're no longer counted as unemployed. And you're no longer part of the labor force. The number of Americans counted as unemployed has shrunk by almost 1.3 million [since November]. That means the labor force has dropped by 529,000 workers.

    The percentage of adults in the labor force is a figure that economists call the participation rate. It is 64.2 percent, the smallest since 1984. And that's become a mystery to economists. Normally after a recession, an improving economy lures job seekers back into the labor market. This time, many are staying on the sidelines. Their decision not to seek work means the drop in unemployment from 9.8 percent in November to 9 percent in April isn't as good as it looks.

    If the 529,000 missing workers had been out scavenging for a job without success, the unemployment rate would have been 9.3 percent in April, not the reported rate of 9 percent. And if the participation rate were as high as it was when the recession began, 66 percent, in December 2007, the unemployment rate could have been as high as 11.5 percent.

    The labor force grew by just 15,000 in April from March — not even enough to keep up with population growth. Economists say many would-be job seekers remain daunted by the odds against finding work: There were 4.3 unemployed people for each job opening in March, more than double the ratio before the recession. And job vacancies are running 35 percent below the pre-recession peak.

    Some who have left the job market are getting by on government checks, particularly Social Security's program for the disabled. More than 8.3 million Americans were on Social Security disability last month, up 1.2 million, or 17 percent, from the end of 2007.
    More job seekers give up, reducing unemployment - Yahoo! News

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    Re: Horror for US Economy as Data Falls off Cliff

    Quote Originally Posted by Ockham View Post
    Ever read "Brave New World" Sit back, relax - have a soma or two, sing a hymn to the government and all will be well.

    If we lived in that world, I'd be on the island.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

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    Re: Horror for US Economy as Data Falls off Cliff

    We need PORKULUS VII--Return of the Pork...........

    ........letting liberals blow all our money and our grandchildren's grandchildren's money is the only way to save the economy..........
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    Re: Horror for US Economy as Data Falls off Cliff

    Quote Originally Posted by empireofreason View Post
    Many figures dropping is actually a good thing, because if they didn't consumption would be raising the debt even more. It's cheaper to put people on government checks vs. keeping them in full time jobs or letting them fall into a criminal dilemma with no benefits.
    Its like entering a different dimension when anyone with a (D) after their name is at the helm.........

    .........."is actually a good thing"........God Help Us.
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    Re: Horror for US Economy as Data Falls off Cliff

    Quote Originally Posted by empireofreason View Post
    It's cheaper to put people on government checks vs. keeping them in full time jobs or letting them fall into a criminal dilemma with no benefits.
    LOL. This is either the most brilliant thing I have ever read...or it isn't. I am leaning toward 'isn't."

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    Re: Horror for US Economy as Data Falls off Cliff

    Quote Originally Posted by Badmutha View Post
    We need PORKULUS VII--Return of the Pork...........

    ........letting liberals blow all our money and our grandchildren's grandchildren's money is the only way to save the economy..........
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    .
    Porkulus VIII, Bigger and Better, This Time its Really Going to Work!
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

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    Re: Horror for US Economy as Data Falls off Cliff

    I think what you guys aren't really coming to terms with is that regardless of who was running the show right now the economy would be in about the same situation. My job for example is out until August (praying it isn't longer) due to the tsunami in Japan slowing down suppliers. Regardless of whom was in the Oval Office my job would have been gone for the time being. Also what most people don't realize is countries specifically hit by the 2008 recession such as Germany, Canada, United Kingdom, Germany, Australia, haven't fully recovered either. Is it Obama's fault those countries haven't fully recovered? Of course these countries have a typically slightly smaller percentage of unemployment at around 7%. I hate to say it I think quite a few economist are right though, we won't fully recover from this crap until well after Obama or any other president that may be president in 2012 is out of office.

    People my age especially it is incredibly hard to find work with a college education or not. I talk to a lot of older people in their 50s+ telling me about when they were my age getting jobs making $18-30/hr lots of hours good benefits, good pension, etc and talking about that being a normal thing and thinking, goddamn that would be great. I think our politics on both sides could be blamed on the fact that this doesn't happen anymore (and people are happy when they make $12-15 an hour nowadays and can even get full medical coverage let alone a good pension) but I also greatly blame China and India. A lot. I think China and India has to be dealt with, in my mind China is a bigger threat to the American way of life than any terrorist organization could ever hope to be. Of course, it is our own U.S. government and corporations making it this way ****ing us as hard as possible. I think the only way this will end is one day when China and India actually have a real middle class that begins to demand real working wages, less hours, better benefits and when China is seen as being sort of a USSR style fraud. When all this **** happens and there is less incentive for these countries to keep ****ing us over so they can make $300 on a iPod that cost them $50 in parts and labor then our country will boom even more as the jobs come back this way, that or they will move to Africa.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: Horror for US Economy as Data Falls off Cliff

    Quote Originally Posted by Jetboogieman View Post
    I simply do not see anything that can jump start the US economy.
    Perhaps you suffer from a lack of imagination.

    Quote Originally Posted by Jetboogieman View Post
    Economies are bigger then their leaders and yours I'm afraid to say, would be in this situation with, or without Obama... for it took a long time to put you in this place.
    Your lack of imagination is no reason for inaction or improper action. Recessions come and recessions go. It takes very wrong actions to sustain and deepen an economic crisis. FDR did it to us, Carter did it to us, and now the one-term president Obama is doing it to us. If we survive this there are easy, good solutions that will get us out of this. But not until after the one-term president Obama is gone.

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    Re: Horror for US Economy as Data Falls off Cliff

    Quote Originally Posted by TheBook View Post
    So wait Mr.V, you're claiming that the EPA, Obamacare and a progressive tax system are the reason for the economy being crap?
    If, by EPA, you mean the vast federal bureaucracy, that regulates every aspect of our lives right down to the kind of toilets we can crap into, then yes. Exactly. This single insight might be sufficient to turn you from your dark, liberal ways, toward the light and freedom of conservatism. Government takings are unconstitutional except under very strict rules. And yet we have seen financial institutions, car companies (I will never knowingly buy anything created by Government Motors), and 1/6th of the entire economy nationalized under the one-term president Obama. He has even dipped into crony capitalism (which is not capitalism) with his major contributor General Electric. I shall also not knowingly buy anything from GE. Add to it the enormous desire for power over everyone through taxation and the trifecta is complete.

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