- Joined
- Nov 6, 2007
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I think I need to ask you why you are pursuing excuses for shrinkage of the LFPR that cannot be measured, while ignoring the Occam's Razor (simple and obvious) explanation ?
The average household lost 20% of its net worth with this recession. A recession caused 100% by government, btw. Not Wall Street. Not predatory lenders. Just plain Government. For folks to voluntarily leave the labor force, that is to forego earning a paycheck, the only positive reason would be that things are so good that the average American household is well-off enough for the wife to stay at home, kids go to college instead of working, take a vacation instead of working, take early retirement instead of working, etc. We know for a fact that the cumulative effects of the bad economy worked against all those scenarios. Nothing of leisure was enabled by this recession.
It is that simple. The shrink of the LFPR is all linked to a bad economy. It is a statistical anomaly that helps keep a terrible situation from appearing terrible on paper. But its still terrible at everyone's dinner table.
I call bull.
This recession was caused by all of us, not just the government.
Greed, from most of America and even some other parts of the world, caused this recession. People spending money they didn't have. Regular people and the government and even businesses, then getting screwed when that money started to become, at least in small parts. And the banks and others that loaned that money share some of the blame because they should have known those people couldn't pay back that money that was being borrowed. In some cases, they were counting on the people not being able to pay it back.