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Thread: US economy creates 243,000 jobs in January

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    Re: US economy creates 243,000 jobs in January

    [QUOTE=AdamT;1060247278]
    Quote Originally Posted by Conservative View Post

    And of course you have no evidence what would have happened without the stimulus, either. But we do have the majority of economists who think that it boosted employment by about 3 million and increased GDP by close to 2.5%.
    So GDP last year of 1.9% obviously was wrong too since the stimulus increased GDP by 2.5%. Please cite those saved jobs and how many of them were state responsibility jobs?

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    Re: US economy creates 243,000 jobs in January

    [QUOTE=Conservative;1060247313]
    Quote Originally Posted by AdamT View Post

    So GDP last year of 1.9% obviously was wrong too since the stimulus increased GDP by 2.5%. Please cite those saved jobs and how many of them were state responsibility jobs?

    Obviously the stimulus started running out after 2010, which in part explains the backsliding in the early part of last year. And in any case, the stimulus made a (roughly) +2.5% change in GDP, so your observation is irrelevant. In other words, if nominal GDP growth would have been -0.5%, the stimulus would have added 2.5% = 2.0% growth. You continue to stuggle with basic arithmetic.

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    Re: US economy creates 243,000 jobs in January

    [QUOTE=AdamT;1060247081]
    Quote Originally Posted by Blue_State View Post

    Well of course we are always guesstimating what *would* have happened but for what actually happened, aren't we? Otherwise how could you criticize President Obama?
    Actually I criticize Bush and Obama for what they did. There are sound economic arguements against what they did. But putting money into the coffers for election mean to much.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: US economy creates 243,000 jobs in January

    [QUOTE=AdamT;1060247414]
    Quote Originally Posted by Conservative View Post


    Obviously the stimulus started running out after 2010, which in part explains the backsliding in the early part of last year. And in any case, the stimulus made a (roughly) +2.5% change in GDP, so your observation is irrelevant. In other words, if nominal GDP growth would have been -0.5%, the stimulus would have added 2.5% = 2.0% growth. You continue to stuggle with basic arithmetic.
    The stimulus was a band-aid and fought against market correction.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: US economy creates 243,000 jobs in January

    Kinda looks like we managed to make a few quid by lending money to AIG(much like the auto industry)as well.

    <The money has been coming back in bits and pieces, with the sale of assets and occasional payments to Treasury. Yesterday, a component of the rescue was formally wound down — at a profit to taxpayers.>


    <On Tuesday, the Federal Reserve Bank of New York reported that it sold the last of the holdings of Maiden Lane II — securities with a face value of about $6 billion — to Credit Suisse. Combined with earlier sales, the sales generated enough revenues to pay off the last of the $19.5 billion owed to the Fed, pay $1 billion to AIG and leave $2.8 billion leftover for the Fed as profits — which will be turned over to taxpayers and help reduce the deficit.>


    AIG Rescue Component Closes
    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: US economy creates 243,000 jobs in January

    [QUOTE=AdamT;1060247414]
    Quote Originally Posted by Conservative View Post


    Obviously the stimulus started running out after 2010, which in part explains the backsliding in the early part of last year. And in any case, the stimulus made a (roughly) +2.5% change in GDP, so your observation is irrelevant. In other words, if nominal GDP growth would have been -0.5%, the stimulus would have added 2.5% = 2.0% growth. You continue to stuggle with basic arithmetic.
    Obviously, but by definition a stimulus was supposed to be short term and what was supposed to happen is leadership kicks in and keeps the economy going. Obama however lacks leadership and thus this is the weakest recovery since the Great Depression. When are you going to admit that Obama is a failure.

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by treedancer View Post
    Kinda looks like we managed to make a few quid by lending money to AIG(much like the auto industry)as well.

    <The money has been coming back in bits and pieces, with the sale of assets and occasional payments to Treasury. Yesterday, a component of the rescue was formally wound down — at a profit to taxpayers.>


    <On Tuesday, the Federal Reserve Bank of New York reported that it sold the last of the holdings of Maiden Lane II — securities with a face value of about $6 billion — to Credit Suisse. Combined with earlier sales, the sales generated enough revenues to pay off the last of the $19.5 billion owed to the Fed, pay $1 billion to AIG and leave $2.8 billion leftover for the Fed as profits — which will be turned over to taxpayers and help reduce the deficit.>


    AIG Rescue Component Closes
    http://www.washingtonpost.com/busine...AiR_story.html

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by treedancer View Post
    Kinda looks like we managed to make a few quid by lending money to AIG(much like the auto industry)as well.

    <The money has been coming back in bits and pieces, with the sale of assets and occasional payments to Treasury. Yesterday, a component of the rescue was formally wound down at a profit to taxpayers.>


    <On Tuesday, the Federal Reserve Bank of New York reported that it sold the last of the holdings of Maiden Lane II securities with a face value of about $6 billion to Credit Suisse. Combined with earlier sales, the sales generated enough revenues to pay off the last of the $19.5 billion owed to the Fed, pay $1 billion to AIG and leave $2.8 billion leftover for the Fed as profits which will be turned over to taxpayers and help reduce the deficit.>


    AIG Rescue Component Closes
    Mortgage giant Fannie Mae asks government for almost $4.6 billion after posting 4Q loss - The Washington Post

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by Sheik Yerbuti View Post
    You would have been smart to leave that one alone after I clued you in [with 'seriously?'] to the ignorance of drawing a connection between new jobless claims and discouraged workers.

    New jobless claims are people who recently became unemployed and have just begun looking for work, which is a prerequisite to collecting unemployment benefits. Discouraged workers are people who are unemployed less than 12 month who have not looked for work for at least 4 weeks.

    The two categories have absolutely nothing to do with each other. You were a fool for thinking otherwise and Conservative is a desperate fool for 'liking' your mistake. But then again, he constantly demonstrates his need to try to better me, even by proxy of others more competent than himself.
    Do you think discouraged workers just magically appear without drawing unemployment? You are a partisan, aren't you?

    I just have to smile when I think of how smart you believe you are.

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by Sheik Yerbuti View Post
    Now try explaining what a person who hasn't looked for a job for 4 weeks has to do with someone who is looking for a job who just filed their first jobless claim?
    My goodness you are a dense one. Consider the effect of time. What do you suppose a likely first step is for one who stops looking for work? Just consider that the first step is the loss of a job.
    Last edited by Misterveritis; 02-29-12 at 09:56 PM.

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