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Thread: US Job Market Loses Steam

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    Re: US Job Market Loses Steam

    "US Job Market Loses Steam"?????

    What? Surely this article must be from 2007. I mean, when was the last time really that the job market had any steam?

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    Re: US Job Market Loses Steam

    Quote Originally Posted by danarhea View Post
    Here is the way I see it. Yes, 71,000 private sector jobs were created, but that is not enough to keep up with all those people coming out of school and entering the work force. As for who is responsible, Obama is not doing enough, the downturn began in 2007, while Bush was still in office, and Clinton signed the repeal of Glass-Steagal into law. There is plenty of blame to go around. The primary villain, however, is pure, unadulterated greed.
    To put the fiscal stimulus into relative perspective, China enacted a $586 billion stimulus package. What makes this so significant is the size of the Chinese economy ($4.8 trillion GDP, $8.8 trillion GDP PPP), between 12% and 7% of GD. The US stimulus package $780 billion (US economy of $14.4 trillion) was around 5.5% of GDP. A stimulus package of around $1.5 trillion would have had a far greater effect in boosting aggregate demand.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US Job Market Loses Steam

    Quote Originally Posted by Goldenboy219 View Post
    To put the fiscal stimulus into relative perspective, China enacted a $586 billion stimulus package. What makes this so significant is the size of the Chinese economy ($4.8 trillion GDP, $8.8 trillion GDP PPP), between 12% and 7% of GD. The US stimulus package $780 billion (US economy of $14.4 trillion) was around 5.5% of GDP. A stimulus package of around $1.5 trillion would have had a far greater effect in boosting aggregate demand.
    Must... stop... staring... at avatar.

    No.

    Must... look.... more...

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    Re: US Job Market Loses Steam

    Quote Originally Posted by Goldenboy219 View Post
    To put the fiscal stimulus into relative perspective, China enacted a $586 billion stimulus package. What makes this so significant is the size of the Chinese economy ($4.8 trillion GDP, $8.8 trillion GDP PPP), between 12% and 7% of GD. The US stimulus package $780 billion (US economy of $14.4 trillion) was around 5.5% of GDP. A stimulus package of around $1.5 trillion would have had a far greater effect in boosting aggregate demand.
    You miss the fact that China spent it's stimulus in about one year. In our sorry state of politics, the stimulus was passed with the hope/expectation that we would have a strong economy in 2010 for the elections.

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    Re: US Job Market Loses Steam

    Quote Originally Posted by Lord Tammerlain View Post
    The job losses I believe were primarily government jobs
    I was not aware that the enforced job losses in the gulf were Goverrnment jobs.

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    Re: US Job Market Loses Steam

    Quote Originally Posted by washunut View Post
    You miss the fact that China spent it's stimulus in about one year. In our sorry state of politics, the stimulus was passed with the hope/expectation that we would have a strong economy in 2010 for the elections.
    Two years. And the US was of the last nations to enact such measures.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US Job Market Loses Steam

    Quote Originally Posted by Goldenboy219 View Post
    Two years. And the US was of the last nations to enact such measures.
    How much stimulus money is still unspent two years into the recession.

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    Re: US Job Market Loses Steam

    Quote Originally Posted by danarhea View Post
    Here is the way I see it. Yes, 71,000 private sector jobs were created, but that is not enough to keep up with all those people coming out of school and entering the work force. As for who is responsible, Obama is not doing enough, the downturn began in 2007, while Bush was still in office, and Clinton signed the repeal of Glass-Steagal into law. There is plenty of blame to go around. The primary villain, however, is pure, unadulterated greed.
    How is greed to blame? People were trying too hard to make money?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: US Job Market Loses Steam

    Quote Originally Posted by apdst View Post
    How is greed to blame? People were trying too hard to make money?
    If by greed we mean most Americans who spend more than they can afford. Then yes greed was a key cause of our current problems. It would also say that the congress are some of the greediest among us.

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    Re: US Job Market Loses Steam

    Quote Originally Posted by washunut View Post
    If by greed we mean most Americans who spend more than they can afford. Then yes greed was a key cause of our current problems. It would also say that the congress are some of the greediest among us.
    That's not greed, nor did people spending more than they could afford cause the recession. It was the doom-saying from politicians that had more to do with the recession, that cause a slow down in spending, more than anything else.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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