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Thread: Employers add no net jobs in Aug.; rate unchanged

  1. #631
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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by donsutherland1 View Post
    Several quick thoughts:

    1) Although trade deficits might matter less in the short-run, they do matter in the long-run. Chronic sizable imbalances are a problem.

    2) As for August 2, the U.S. needed to raise its debt ceiling. To fail to do so would have been reckless as it would have imposed abrupt measures to immediately balance the budget and cover debt payments (interest and, if necessary, a share of principal). The deal attached to the debt ceiling hike was, IMO, suboptimal.

    3) Stronger banking regulations, particularly with respect to capital, are not necessarily a bad thing, even if they constrain lending in the short-term. In increasing part, U.S. growth had become tied to larger increases in debt (during the closing years of the housing bubble, domestic nonfinancial debt was rising more than $3 for every $1 increase in GDP. That's not a sustainable model). Canada's banking system, where capital and lending standards are stronger, emerged largely unscathed from the turmoil associated with the recent financial crisis.

    4) A lesson--albeit one that was forgotten prior to the recent recession--is that there is no such thing as "good" inflation or "bad" inflation. Whether one is dealing with consumer price inflation or asset price inflation, neither is wholly benign. The housing bubble is a classic illustration of how asset price inflation can be a very bad thing, especially if it is tied to excessive debt. I tend to agree with IMF research that more robust monetary policy approaches should consider asset prices in the overall rubric of inflation.
    I took an interest in the subject of cheap labor ... after the bubble. I actually voted for Reagan and Clinton ... both whose initiatives exist today ... low tax and free trade. I had already determined in my mind that free trade (cheap labor) that I previously supported, destroyed the economy ... before I ever read one economic link. It seemed obvious that exporting jobs and GDP would have negative consequences without the promised job creation.

    Eventually I ran into all the economic schools and theory. I also found economic studies ... the best being the Harvard study which made the current account deficit with Asia a codeterminant. Not that the solution to prevent bubbles was a codeterminent ... it was all about the capital from current accounts. Also the benefits espoused by Friedman were shunned ... how do we control, reduce, and regulate the capital.

    I'm not dismissive of risk "There is little doubt that increased financial sector leverage –from 20x capital to 30x capital from 2000 – 2007 (even 35x)" , I merely accept the fact that glut and valuation increases were inevitable. A taste of old Nam inflation might have been better then the runup on commodities / housing valuations. Many factors like Asia crisis, monetary manipulation in China, and dollar devaluation contributed.

    GDP exports and the following consumption issues that drive 70% of the economy sparked my interest after the inability to stimulate the economy. Underconsumption/Says debate. In the end I look at the bottom line ... as a country ... not just corporation. To old and military service ... the nationalism is ingrained.
    www.economics.harvard.edu/faculty/rogoff/files/Global_Imbalances_and_Financial_Crisis.pdf
    Last edited by Michael H; 09-06-11 at 02:58 PM.
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  2. #632
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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by Sheik Yerbuti View Post
    So? Texas still ranks among the highest states when it comes to poverty. And how about addressing Adam's point that most of the worst states are run by Republican governors? Some for decades.

    41. Tennessee (Republican)
    42. Alabama (Republican)
    43. North Carolina (Democrat)
    44. Kentucky (Democrat)
    45. Texas (Republican)
    46. Georgia (Republican)
    47. Arkansas (Democrat)
    48. New Mexico (Republican)
    49. Arizona (Republican)
    50. Mississippi (Republican)


    Poverty Rate by Household Income - Kaiser State Health Facts
    Never been to TX, I see. Tell that to the people of Houston, Austin, Dallas/Ft.Worth, Midland/Odessa, Lubbock. Guess you ought to stay out of TX. We really are going to miss you.

  3. #633
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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by Sheik Yerbuti View Post
    So? Texas still ranks among the highest states when it comes to poverty. And how about addressing Adam's point that most of the worst states are run by Republican governors? Some for decades.

    41. Tennessee (Republican)
    42. Alabama (Republican)
    43. North Carolina (Democrat)
    44. Kentucky (Democrat)
    45. Texas (Republican)
    46. Georgia (Republican)
    47. Arkansas (Democrat)
    48. New Mexico (Republican)
    49. Arizona (Republican)
    50. Mississippi (Republican)


    Poverty Rate by Household Income - Kaiser State Health Facts
    What are you guys arguing about, where the government is making people rich or what? Whether republican or democrat, where is it written that poverty can't exist?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by American View Post
    What are you guys arguing about, where the government is making people rich or what? Whether republican or democrat, where is it written that poverty can't exist?
    Shiek is doing his anti Republican rants again as usual believing that it is the government's role to provide a certain level of income to individuals instead of the freedoms to give them the opportunity to succeed. Liberals love to micromanage everyone else's life but not intrude on theirs. Notice it is always about entitlements funded by others and never personal responsibility.

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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by Conservative View Post
    Never been to TX, I see. Tell that to the people of Houston, Austin, Dallas/Ft.Worth, Midland/Odessa, Lubbock. Guess you ought to stay out of TX. We really are going to miss you.
    I always thought Texas was a much bigger state than those cities.

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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by American View Post

    What are you guys arguing about, where the government is making people rich or what? Whether republican or democrat, where is it written that poverty can't exist?
    Conservative claims Democrat/Liberal policies leads to poverty. Some here are pointing out cases where the highest poverty levels are in states run by Republicans/Conservatives.

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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by pbrauer View Post
    I always thought Texas was a much bigger state than those cities.
    I gave cross sections of TX, East West, South, and North, all major metropolitan areas that pain a picture of the economy of TX contrary to your point of view and negative articles posted.

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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by Conservative View Post

    Never been to TX, I see. Tell that to the people of Houston, Austin, Dallas/Ft.Worth, Midland/Odessa, Lubbock. Guess you ought to stay out of TX. We really are going to miss you.
    Texas has the 6th highest poverty rate in the nation. Deal with it. And if the poverty rate in the few cities you mentioned is below the national average, that makes the poverty rate in the rest of Texas that much higher.

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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by Sheik Yerbuti View Post
    Conservative claims Democrat/Liberal policies leads to poverty. Some here are pointing out cases where the highest poverty levels are in states run by Republicans/Conservatives.
    Proven over and over again but ignored. Some of those Repubican Governors are in border states and some took over recently from Democrat Governors so not sure what your point is. To believe that it is the Government's role to create wealth for individuals is a fallacy but it is true that liberalism has created dependence promoting that falacy

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    Re: Employers add no net jobs in Aug.; rate unchanged

    Quote Originally Posted by Sheik Yerbuti View Post
    Texas has the 6th highest poverty rate in the nation. Deal with it. And if the poverty rate in the few cities you mentioned is below the national average, that makes the poverty rate in the rest of Texas that much higher.
    Don't move to TX. People in TX have a better chance of getting out of poverty due to lower taxes and greater freedoms. Guess that fact escaped you

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