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Thread: U.S. Jobless Rate Unexpectedly Declines to 8.6%

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by MrMindSpeaker View Post
    wow you totally missed that one!
    Care to explain?

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by AdamT View Post
    Was there a housing crisis in the 30 years following the passage of CRA? No. Why not? Because CRA wasn't the problem.
    That was before Frank, Waters, Meeks, etc. got into office and refused to let Fannie Mae and Freddie Mac be reformed.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by AdamT View Post
    Apparently it made it lower.
    That is exactly what it did, made the misery index artificially lower. Unemployment numbers were changed in 1994 when discouraged workers were dropped from the roles of the unemployed. That distorts the unemployment numbers and that is why today's rate is actually 9.36%

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Gill View Post
    Reagan:

    2/81 - 18.81
    10/83 - 11.65


    Obama
    2/09 - 8.44
    10/11 - 12.53


    Doh !!
    Oh my bad. I misread his post completely. I thought he said the MI had never declined during Obama's tenure. Doh!
    Ted Cruz is the dumbest person alive.

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by MrMindSpeaker View Post
    90,000 jobs are needed each month just to keep up with population growth

    Calculated Risk: How many jobs are needed over the next year to keep the unemployment rate steady?
    Yes.. and that number can quickly fall with the increased baby boomer retirements. If baby boomer retirements increase to say 20k a month.. then your work force will shrink naturally and hence your failed unemployment numbers as well.. well depending on how many people re-enter the statistics of course.

    I am not trying to defend Obama on unemployment numbers, far from it. I am just trying to point out the fact that the work force numbers are highly volitile due to many factors, including baby boomer retirements increasing and of course the "discouraged" workers part.
    PeteEU

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Conservative View Post
    That is exactly what it did, made the misery index artificially lower. Unemployment numbers were changed in 1994 when discouraged workers were dropped from the roles of the unemployed. That distorts the unemployment numbers and that is why today's rate is actually 9.36%
    So when the number of people leaving the workforce increased before, that made the index higher, but when it increased now, it made it lower. Makes perfect sense.

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by AdamT View Post
    So when the number of people leaving the workforce increased before, that made the index higher, but when it increased now, it made it lower. Makes perfect sense.
    Get someone to explain it to you as I am exhausted. Nothing changes the mind of an ideologue. You want badly for Obama policies to succeed and they haven't so you ignore them.

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Conservative View Post
    Nothing changes the mind of an ideologue.
    Does this mean you wont be changing your mind then?
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Gill View Post
    That was before Frank, Waters, Meeks, etc. got into office and refused to let Fannie Mae and Freddie Mac be reformed.
    It's nice talking point, but unfortunately it's completely false.

    The House bill, the 2005 Federal Housing Finance Reform Act, would have created a stronger regulator with new powers to increase capital at Fannie and Freddie, to limit their portfolios and to deal with the possibility of receivership.

    Mr Oxley reached out to Barney Frank, then the ranking Democrat on the committee and now its chairman, to secure support on the other side of the aisle. But after winning bipartisan support in the House, where the bill passed by 331 to 90 votes, the legislation lacked a champion in the Senate and faced hostility from the Bush administration.

    Adamant that the only solution to the problems posed by Fannie and Freddie was their privatisation, the White House attacked the bill. Mr Greenspan also weighed in, saying that the House legislation was worse than no bill at all.

    “We missed a golden opportunity that would have avoided a lot of the problems we’re facing now, if we hadn’t had such a firm ideological position at the White House and the Treasury and the Fed,” Mr Oxley says.
    FT.com / UK - Oxley hits back at ideologues

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by treedancer View Post
    Does this mean you wont be changing your mind then?
    I did change my mind, grew up a Democrat and haven't voted for a Democrat President since 1976. Have always been a Conservative but saw the Democrat Party leave me. In other words I grew up and learned that Democrat rhetoric about spending in the name of compassion never led to compassionate spending.

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