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US unemployment rate reaches 7.6%

7.6% is a great number for Europe. That's the zero point for the EU.

Its not a great number.. Unemployment has fallen over the years from 10ish% to a low of 6.8%, then rose again to around 7.4% at the moment, because of our little setback...

EU. A relatively stable economy? Time will tell, and I say not likely. LOL. Germany, the EU's engine fell flat with Schroeder as he couldn't get the unemployment rate down during a good US economy... it doubled on his watch.

Most European economies are far more solid anchored than the US economy, its less based on speculation and more on real economic advantages such as production, savings, exports, dense infrastructure and so on. Actually Schroeder did good if you ever study German unemployment numbers, which are now at 7.1%, down from well above 10% in the midterm of Schröders government. The results of reform is not seen immediately, but it being 7% now is thanks to what the last government did.
And the US economy was not really good and stable in the same time period, remember 911 and the economic results of that? Even so, unemployment fell in Germany.


The EU is a follower. Like the CDN dollar, there may be times when it reaches some type of parity when things get tough in the US but it's not something you can look at and say it's for the long term.

How do you explain the Euro being so high against the dollar then? If it was a "follower" it would surely be 1.10 to the dollar maximum, to stimulate European exports, but its not, because our cycles and economic fortunes are different. Both the US and Europe will cycle as results of the other one.. If the economic collapse of this crisis, starts hitting Europe more severely, it will also hit the US as a result, and then hit Europe back, and then the US. It could turn incredibly nasty for both economies in the end if that happens, but luckily its a worst case scenario, and not very likely to happen, and you should be thankful to Europe for that, since we are not declining as rapid as the US, its more a setback here.

The EU is still a poor cousin to the US.

Not really.. Our savings rates are above 12% of GDP, while yours is just a tiny 2%, and our debts much smaller, while yours are the biggest in the world after the UK. Also we are not loaded with government debts and trade deficits at the same level that you are. So actually, Europe is the rich cousin of the US.


Don't worry, the US will bounce back.

I certainly hope so.. And I believe slowly it can if the US does the right things instead of the wrong things like I see them doing now, by taking on more debt, wasting money into the fire to rescue a bunch of badly managed bankrupt companies.



We're three weeks closer to the end of the Obama presidency.

Unrealistic.. Even so, you want Joe Biden?

Let's see which country recovers first (with Obama I"m guessing it'll be 6 years... it will require removing the Marxist and electing a Reagan-like figure).

Europe hasnt seen a collapse, just a setback.. So clearly I think we will recover first. Actually we will recover as soon as the US economy stops declining so rapidly, since our setback is a result of US decline.

Reagan figure... :lol: ........ Final nail in the coffin that would be.. One of the reasons Europe is not declining is because of socialism and more state involvement in our economies, and of course better financial management, less speculative based economy.
The only way I think the US can save itself is to abandon its idea of 100% capitalism, because capitalism will always end up bad.
 
No, it was just an analyzed of the situation, because such is interesting!!! Hello!!!
So, contrary to your previous claim, you were NOT just reporting the news.

Perhaps you should start analyzing instead of just screaming anti-American every time reality hits you..
If it walks like a duck...
 
Its not a great number.. Unemployment has fallen over the years from 10ish% to a low of 6.8%, then rose again to around 7.4% at the moment, because of our little setback...



Most European economies are far more solid anchored than the US economy, its less based on speculation and more on real economic advantages such as production, savings, exports, dense infrastructure and so on. Actually Schroeder did good if you ever study German unemployment numbers, which are now at 7.1%, down from well above 10% in the midterm of Schröders government. The results of reform is not seen immediately, but it being 7% now is thanks to what the last government did.
And the US economy was not really good and stable in the same time period, remember 911 and the economic results of that? Even so, unemployment fell in Germany.




How do you explain the Euro being so high against the dollar then? If it was a "follower" it would surely be 1.10 to the dollar maximum, to stimulate European exports, but its not, because our cycles and economic fortunes are different. Both the US and Europe will cycle as results of the other one.. If the economic collapse of this crisis, starts hitting Europe more severely, it will also hit the US as a result, and then hit Europe back, and then the US. It could turn incredibly nasty for both economies in the end if that happens, but luckily its a worst case scenario, and not very likely to happen, and you should be thankful to Europe for that, since we are not declining as rapid as the US, its more a setback here.



Not really.. Our savings rates are above 12% of GDP, while yours is just a tiny 2%, and our debts much smaller, while yours are the biggest in the world after the UK. Also we are not loaded with government debts and trade deficits at the same level that you are. So actually, Europe is the rich cousin of the US.




I certainly hope so.. And I believe slowly it can if the US does the right things instead of the wrong things like I see them doing now, by taking on more debt, wasting money into the fire to rescue a bunch of badly managed bankrupt companies.





Unrealistic.. Even so, you want Joe Biden?



Europe hasnt seen a collapse, just a setback.. So clearly I think we will recover first. Actually we will recover as soon as the US economy stops declining so rapidly, since our setback is a result of US decline.

Reagan figure... :lol: ........ Final nail in the coffin that would be.. One of the reasons Europe is not declining is because of socialism and more state involvement in our economies, and of course better financial management, less speculative based economy.
The only way I think the US can save itself is to abandon its idea of 100% capitalism, because capitalism will always end up bad.

You continue to make good sense here. The money whore of 100% capialism is why we are here in the first place. Some control over their insatiable glut is over-due. As ugly as the word "socialsm" is in this country, perhaps its time to try it on as a means to control those who are destroying the labor class and the job market in America. The poor didn`t cause this, they only got poorer...while working. The rich will NEVER be satiated. Sorry pigs, time for a diet plan.:cool: Reagan ??? Was that the money whore who invented the trickle down economics,(economic stimulus), we are trying today. I think he also partook in crushing unions who fought for better pay, and better work conditions, for the labor class. Reagan will never be forgotten, much the same as GWB.:cool:
 
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You continue to make good sense here. The money whore of 100% capialism is why we are here in the first place.
There is no such thing as 100% capitalism.... and, 100% capitalism would dictate that there would be no 'bailouts'.
 
You continue to make good sense here. The money whore of 100% capialism is why we are here in the first place. Some control over their insatiable glut is over-due. As ugly as the word "socialsm" is in this country, perhaps its time to try it on as a means to control those who are destroying the labor class and the job market in America. The poor didn`t cause this, they only got poorer...while working. The rich will NEVER be satiated. Sorry pigs, time for a diet plan.:cool: Reagan ??? Was that the money whore who invented the trickle down economics,(economic stimulus), we are trying today. I think he also partook in crushing unions who fought for better pay, and better work conditions, for the labor class. Reagan will never be forgotten, much the same as GWB.:cool:

No, what we need is less socialism; especially corporate socialism. We moved away from the free market quite some time ago, opting for some horrible version of corporate capitalism. We removed much of the mobility. Poor people don't have that much chance of getting rich and the rich have virtually no way of becoming poor. What's needed is true free market capitalism with full class mobility. That way no one can stagnate. Want to remain rich? Well you're gonna have to work at it. While at the same time opening up avenues for the poor to start climbing the economic ladder. I'm not saying bottom 5% to top 1% sort of thing; but give realistic opportunity to at least make it into the middle class. The unfortunate truth is that with our corporate capitalist model and freezing of class structure; those born poor are most likely to die poor. In the meantime people like Paris Hilton will never chance being poor. Should live by the sweat of your brow.
 
There is no such thing as 100% capitalism.... and, 100% capitalism would dictate that there would be no 'bailouts'.

The bailouts are occuring because we are reaching the collapsing point of our capitalistic economic snowball
 
The bailouts are occuring because we are reaching the collapsing point of our capitalistic economic snowball
Capitalistic economies naturally grow anbd contract.
That they do this in no way means that any given contraction is a failure of the system or that the collapse of the system is imminent.

And, dont kid yourself:
If the economy collapses, the government will go with it.
The system that rises from the ashes will be the system best reflecting human nature -- capitalism.
 
Capitalistic economies naturally grow anbd contract.
That they do this in no way means that any given contraction is a failure of the system or that the collapse of the system is imminent.

And, dont kid yourself:
If the economy collapses, the government will go with it.
The system that rises from the ashes will be the system best reflecting human nature -- capitalism.

Yes the government will go with it. this is why they absolutely have to give the american people enough money right now so everyone can pay off enough debt to mathmatical be able to make their bills plus be able to spend money to help bring more money in circulation in the economy.

If there is a complete economic collapse then it would take decades to build back the infastructure
 
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Yes the government will go with it. this is why they absolutely have to give the american people enough money right now so everyone can pay off enough debt to mathmatical be able to make their bills plus be able to spend money to help bring more money in circulation in the economy.

If there is a complete economic collapse then it would take decades to build back the infastructure
You say that like some people discuss nuclear weapons -- they say 'but it's NUCLEAR!" and then look at you like they canlt figure out why that doesnt end the conversation.

Did you ever consider the idea that if there is a wholesale collapse of the economy and the government due to the current 'crisis', it might be in largest part because of the 'the government HAS to give people money' mindset, as implemented over the last 70+ years?

And, if you REALLY think the government should "give the american people enough money right now", then why not have the 'stimulus package' consist entirely of tax cuts?
 
You say that like some people discuss nuclear weapons -- they say 'but it's NUCLEAR!" and then look at you like they canlt figure out why that doesnt end the conversation.

Did you ever consider the idea that if there is a wholesale collapse of the economy and the government due to the current 'crisis', it might be in largest part because of the 'the government HAS to give people money' mindset, as implemented over the last 70+ years?

And, if you REALLY think the government should "give the american people enough money right now", then why not have the 'stimulus package' consist entirely of tax cuts?

We've reached a point where it's too little too late for the tax cuts..People are loosing their jobs and homes NOW so something very drastic needs to be done. The tax cuts etc. should have been thought of long ago.
 
Interesting...I had a discussion with a friend several years ago and he too was telling me how he was predicting a depression coming. He actually went as far and said it will be far worse than the "Great Depression"! This was during a time when we were at the peak of our economy and construction was booming! I kinda blew off the conversation for awhile until I started to notice that things were falling in place exactly like he had predicted.
Predicting the future isn't hard when you don't make definitive/falsifiable claims.

PS - Jesus is coming! :mrgreen:
 
Did you ever consider the idea that if there is a wholesale collapse of the economy and the government due to the current 'crisis', it might be in largest part because of the 'the government HAS to give people money' mindset, as implemented over the last 70+ years?

And, if you REALLY think the government should "give the american people enough money right now", then why not have the 'stimulus package' consist entirely of tax cuts?

The inability for the government to control the economy is as clear it can possibly be at this moment. Tax cuts that are temporary will not be heeded by consumers as permanent solution to their troubles. Maybe a shock to the system (corporate tax holiday for 2009) could boost demand, but the jury is still out on temporary tax cuts.
 
Predicting the future isn't hard when you don't make definitive/falsifiable claims.

PS - Jesus is coming! :mrgreen:

I bet if you were back in the day you would have little sayings like this to people that told you the world isn't flat

Now that I think about it they were probably in your family tree
 
To those who claim the EU is just inconvenienced.

Eurozone data on Wednesday showed industrial output tumbled across the 16-country region. Eurozone industrial production in November was 7.7 per cent lower than a year before – the biggest such drop since records began in 1990, according to Eurostat, the European Union’s statistical office. Italy reported a fall of almost 10 per cent on Wednesday over the period, with automotive production slumping 46.4 per cent.

FT.com / Europe - German GDP contracts sharply

Any economy that is heavily reliant on exportation to fund their wealth will begin to take massive deficits, in the form of lost revenue, and greater instances of unemployment.

Nations that depend on current account surpluses are in for a rude awakening.
 
The inability for the government to control the economy is as clear it can possibly be at this moment.
That is -always- clear to those that -understand- the economy.
That is -always- UNclear those those that believe government is the solution to everything.
 
We've reached a point where it's too little too late for the tax cuts.
:rofl
Giving people $x from a cut in their taxes is 'too litle too late'
Giving people $x from a government spending program? THAT will work!!!

Did you ever consider the idea that if there is a wholesale collapse of the economy and the government due to the current 'crisis', it might be in largest part because of the 'the government HAS to give people money' mindset, as implemented over the last 70+ years?
 
To those who claim the EU is just inconvenienced.



FT.com / Europe - German GDP contracts sharply

Any economy that is heavily reliant on exportation to fund their wealth will begin to take massive deficits, in the form of lost revenue, and greater instances of unemployment.

Nations that depend on current account surpluses are in for a rude awakening.

Don't forget the perpetual Airbus bailouts.

No worries. These are "little problems". The US however is in another great depression! :lol:
 
:rofl
Giving people $x from a cut in their taxes is 'too litle too late'
Giving people $x from a government spending program? THAT will work!!!

Did you ever consider the idea that if there is a wholesale collapse of the economy and the government due to the current 'crisis', it might be in largest part because of the 'the government HAS to give people money' mindset, as implemented over the last 70+ years?

What does this have to do with the majority commonfolk that are caught in a finacial situation where it is mathmatically impossible to make their payment?

Most americans got caught up in a "borrow from Peter to pay Paul" situation.
 
What does this have to do with the majority commonfolk that are caught in a finacial situation where it is mathmatically impossible to make their payment?

Most americans got caught up in a "borrow from Peter to pay Paul" situation.
Seems to me that if the $x they get from a tax cut doesnt help them, then the $x they get from a government spending program won't hellp them to the same degree.

Given that, why NOT the tax cut, and WHY the spending program?

And then:
Did you ever consider the idea that if there is a wholesale collapse of the economy and the government due to the current 'crisis', it might be in largest part because of the 'the government HAS to give people money' mindset, as implemented over the last 70+ years?
 
Seems to me that if the $x they get from a tax cut doesnt help them, then the $x they get from a government spending program won't hellp them to the same degree.

Given that, why NOT the tax cut, and WHY the spending program?

And then:
Did you ever consider the idea that if there is a wholesale collapse of the economy and the government due to the current 'crisis', it might be in largest part because of the 'the government HAS to give people money' mindset, as implemented over the last 70+ years?

I certainly agree to a point...a large part of our economic crisis started when our government let american citizens take their factories overseas to make even higher capitalistic profits.

This was a huge double whammy because it also trained other countries how to build competative factories and is helping China to eventually pass us as an economic "Super Power" which in turn will help them pass us as a "Military Super Power"
 
I certainly agree to a point...a large part of our economic crisis started when our government let american citizens take their factories overseas to make even higher capitalistic profits.
Um... this isnt an example of 'the government HAS to give people money' mindset.
Please address the question I actually asked.

Also....why NOT the tax cut, and WHY the spending program?

And, how would you suggest that the government stop me from taking my factory overseas?
 
Um... this isnt an example of 'the government HAS to give people money' mindset.
Please address the question I actually asked.

Also....why NOT the tax cut, and WHY the spending program?

And, how would you suggest that the government stop me from taking my factory overseas?

Sorry, the economic issue is multy faceted and I went off on another tangent.

I don't believe tax cuts would be neccesary if the american people receive enough money to help with the mortgage crisis along with reform on availability to recieve loans

Overseas profits should be highly taxed (or strip them of citizenship) and replace the money the government gives for handouts
 
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