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Thread: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

  1. #511
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post


    The fact remains that you typed: ''Cutting govt spending in a time of lowered spending overall leads to MUCH SLOWER REBOUND.'

    And the fact that spending was drastically cut during the 1920/21 depression shows that history does not back up your claim.



    Have a nice day.
    You have a nice day too, your problem is that you think that every recession/depression is the same, so every solution is the same. Obviously, one size does not fit all. As far as your "austerity works", that is not what "cured" the '20 depression. In fact it was a major cause, govt spending in WWI caused prices in the US to rise, when war spending ended, deflation happened. This was not some massive loss of household income (like today) resulting in large personal spending cuts. Fed govt spending in the period before WWI was @ 3% of GDP, peaked to 23% in 1919 and was cut to less than half that the following year. Between '21 and '31 it had stabilized to @ 5% of GDP. Since the economy throughout this period had fed spending as a small component of the total economy (save the the 2 years of '17 thru '19), one would expect a fairly quick recover along with the larger (albeit just a couple of points higher) level of fed spending after the war. And it was.

    So I don't think you can say "austerity did not hurt", it did, it was the major cause of the '20 depression. And as I said before, we have been experiencing a local govt austerity situation since 2007, local govt firings have been the largest sector of job losses and that has all been due to declining state/local revenues. Those govts have no choice but the layoff/fire, they cannot go into debt. Those workers (along with housing sector workers) have not been absorbed back into the workforce, again, the combining of govt firings (forced austerity) with non-govt firings has created a perfect storm. More austerity at the fed level is not going to get those state/local govt workers rehired.

    But as I keep saying, you cons and libertarians should be rejoicing in this, you are getting fewer govt workers and you are getting less total govt spending. Your problem is that the private market has not responded in snapping up all this excess labor......but then why should it when it is able to still make massive profits while squeezing even greater productivity from the existing workforce.

    Again, this is a great time for you pure capitalists, don't be concerned about high unemployment, it keeps your labor costs low.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    You have a nice day too, your problem is that you think that every recession/depression is the same, so every solution is the same. Obviously, one size does not fit all. As far as your "austerity works", that is not what "cured" the '20 depression. In fact it was a major cause, govt spending in WWI caused prices in the US to rise, when war spending ended, deflation happened. This was not some massive loss of household income (like today) resulting in large personal spending cuts. Fed govt spending in the period before WWI was @ 3% of GDP, peaked to 23% in 1919 and was cut to less than half that the following year. Between '21 and '31 it had stabilized to @ 5% of GDP. Since the economy throughout this period had fed spending as a small component of the total economy (save the the 2 years of '17 thru '19), one would expect a fairly quick recover along with the larger (albeit just a couple of points higher) level of fed spending after the war. And it was.

    So I don't think you can say "austerity did not hurt", it did, it was the major cause of the '20 depression. And as I said before, we have been experiencing a local govt austerity situation since 2007, local govt firings have been the largest sector of job losses and that has all been due to declining state/local revenues. Those govts have no choice but the layoff/fire, they cannot go into debt. Those workers (along with housing sector workers) have not been absorbed back into the workforce, again, the combining of govt firings (forced austerity) with non-govt firings has created a perfect storm. More austerity at the fed level is not going to get those state/local govt workers rehired.

    But as I keep saying, you cons and libertarians should be rejoicing in this, you are getting fewer govt workers and you are getting less total govt spending. Your problem is that the private market has not responded in snapping up all this excess labor......but then why should it when it is able to still make massive profits while squeezing even greater productivity from the existing workforce.

    Again, this is a great time for you pure capitalists, don't be concerned about high unemployment, it keeps your labor costs low.
    Where exactly did I type the highlighted quotes that you attribute to me?
    Last edited by DA60; 04-07-13 at 01:31 AM.

  3. #513
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post
    Where exactly did I type the highlighted quotes that you attribute to me?
    Is that it? That is your rebuttal? Where did you say or imply that austerity is not a problem?

    Gee, I dunno....I must have made it up.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    Is that it? That is your rebuttal? Where did you say or imply that austerity is not a problem?

    Gee, I dunno....I must have made it up.
    Duh, ya think so?

    Not only did you attribute words to me that I never typed - you actually were ridiculous enough to put quotations around it.

    Do it again to me and you go on my ignore list.


    As for your ideas.

    What I typed stands:

    The fact remains that you typed: ''Cutting govt spending in a time of lowered spending overall leads to MUCH SLOWER REBOUND.'

    And the fact that spending was drastically cut during the 1920/21 depression shows that history does not back up your claim.

    Which was my point in so far as you were concerned.


    As for what caused the 1920/21 depression? Many major wars result in recessions/depressions after wards. This may have been no different.

    The fact that the removal of massive government spending may have resulted in a recession/depression afterwards just shows now stupid the concept of government stimulus is.


    And it just shows what I have long stated - imo, as soon as the Fed starts raising interest rates and ends QE, America will fall into a much larger recession then in '08.

    Massive government stimuli do little but put a band aid on an economy, prevents it from finding it's proper price floor and generally makes the economy lazy and dependent on government money - which leads to huge problems when the government money tap is turned off (which it always has to be eventually).


    Any other points you want to make that I do not care much about due to their source and concept (in that order)?



    Have a nice day.
    Last edited by DA60; 04-07-13 at 01:58 AM.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post

    Do it again to me and you go on my ignore list.
    Oh no, please, don't go, really, don't go, really...


    The fact that the removal of massive government spending may have resulted in a recession/depression afterwards just shows now stupid the concept of government stimulus is.
    Uh, it wasn't a "stimulus", it was spending for WWI.

    Try again.


    Massive government stimuli do little but put a band aid on an economy, prevents it from finding it's proper price floor and generally makes the economy lazy and dependent on government money - which leads to huge problems when the government money tap is turned off (which it always has to be eventually).
    If this is an argument against massive fed govt war material spending (WWI, WWII, Vietnam, Reagan's debt tripling, GW1, AFPAK), I agree!!!!


    Any other points you want to make that I do not care much about due to their source and concept (in that order)?
    Hey, don't go, you have a wonderful way of making my point.



    Have a nice day.
    Nitey nite.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  6. #516
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    Oh no, please, don't go, really, don't go, really...


    Uh, it wasn't a "stimulus", it was spending for WWI.

    Try again.


    If this is an argument against massive fed govt war material spending (WWI, WWII, Vietnam, Reagan's debt tripling, GW1, AFPAK), I agree!!!!


    Hey, don't go, you have a wonderful way of making my point.



    Nitey nite.
    Blah blah blah

    So your answer to my question 'Any other points you want to make that I do not care much about due to their source and concept (in that order)?'' is no.

    Good.


    Have a nice day.

  7. #517
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post
    Blah blah blah

    So your answer to my question 'Any other points you want to make that I do not care much about due to their source and concept (in that order)?'' is no.

    Good.


    Have a nice day.
    This....from the poster whining about about "attribution".

    If this is your conceding the argument about "austerity" not mattering, so be it.

    I just hope for your sake you learn the difference between planned demand side stimulus and war spending.
    Last edited by Gimmesometruth; 04-07-13 at 02:25 AM.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  8. #518
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    This....from the poster whining about about "attribution".

    If this is your conceding the argument about "austerity" not mattering, so be it.

    I just hope for your sake you learn the difference between planned demand side stimulus and war spending.
    Blah blah blah.

    Actually, why am I wasting my time on you?

    You know little to nothing about real world macroeconomics.

    You blatantly put words in people's mouths.

    And - judging from your posts to others - you are deliberately childish acting.

    Life is too short for people like you.

    You are on my ignore list.


    Have a VERY nice day.

  9. #519
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post
    Blah blah blah.

    Actually, why am I wasting my time on you?

    You know little to nothing about real world macroeconomics.

    You blatantly put words in people's mouths.

    And - judging from your posts to others - you are deliberately childish acting.

    Life is too short for people like you.

    You are on my ignore list.


    Have a VERY nice day.
    LOL....pointing out your silly mistake over "stimulus" vs war spending caused you to put me on ignore! After you warned me about false attributes.....when you just did it?

    LOL.

    Like I said, I wish you wouldn't go, you kept on making my point. Now I'll have to do it all by myself.

    Sniff.....
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  10. #520
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Are you saying the auto industry and suppliers moved out of Detroit with the people in the beginning year or two of the recession?

    Quote Originally Posted by donsutherland1 View Post
    In a business landscape marked by a lack of industry diversity, the auto manufacturers made choices ranging from contracts to destructive mergers that led to rigidities, enormous waste, and decline. That rippled through to suppliers and others doing business with them and had an adverse economic impact. In turn, that contributed to the socioeconomic decay and associated problems that helped drive the unprecedented population decline. Today, thanks to restructuring, the auto manufacturers have regained competitiveness. However, they are not as Detroit-centric as they were in the past, so the benefits are much smaller than they would otherwise have been.

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