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US economy: No recovery, wages in reverse

KLATTU

KLATTU

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Despite what the ministers of propaganda have been telling us, the economy ain't doin' so hot.

US economy: No recovery, wages in reverse | Washington Examiner
A new report on the economy finds that productivity growth is at a 50-year low and that much of the positive talk about the nation's financial situation in the last election, much of it coming from the administration, was a lie.
 
Looks correct to me.
 
KLATTU said:
Despite what the ministers of propaganda have been telling us, the economy ain't doin' so hot.

US economy: No recovery, wages in reverse | Washington Examiner
A new report on the economy finds that productivity growth is at a 50-year low and that much of the positive talk about the nation's financial situation in the last election, much of it coming from the administration, was a lie.
Click to expand...


You can "prove" anything by citing the right internet site. Is he Earth really flat? Was the moon landing fake? Did Bush fake the attack on the WTC? Are there really Reptilians among us? It's all there, a few clicks away.

But look around you. Go to a mall, any mall. Are there shoppers there spending money? Get on the freeway, is it full of shiny new cars, or is it empty? Take a look around any middle class neighborhood. Are there a lot of vacant houses in disrepair? How about those homeless camps: Are they populated by desperate job seekers ala Grapes of Wrath, or are their denizens swacked out druggies?
 
KLATTU said:
Despite what the ministers of propaganda have been telling us, the economy ain't doin' so hot.

US economy: No recovery, wages in reverse | Washington Examiner
A new report on the economy finds that productivity growth is at a 50-year low and that much of the positive talk about the nation's financial situation in the last election, much of it coming from the administration, was a lie.
Click to expand...

That's a result of conservative policies though.
 
Dittohead not! said:
You can "prove" anything by citing the right internet site. Is he Earth really flat? Was the moon landing fake? Did Bush fake the attack on the WTC? Are there really Reptilians among us? It's all there, a few clicks away.

But look around you. Go to a mall, any mall. Are there shoppers there spending money? Get on the freeway, is it full of shiny new cars, or is it empty? Take a look around any middle class neighborhood. Are there a lot of vacant houses in disrepair? How about those homeless camps: Are they populated by desperate job seekers ala Grapes of Wrath, or are their denizens swacked out druggies?
Click to expand...

If you want to show the article is bunk, you could try to take on and refute what it actually said, which was not any of this.
 
Well..

1. We are "recovering" from the Great Recession because we are growing, albeit slowly, and we have reached peak employment for the level of labor participation we have. Whether or not we are recovering into a long term growth economy is a different question. We weren't really in one to begin with. Our "growth" was purely the result of overspending, overborrowing, tax breaks, and unfunded war spending. So we are RECOVERING from the Great Recession.

2. There are obviously long term fiscal and economic issues all around this country and all around the world and this is not soley to blame on the government. Our businesses are just as stuck in short term thinking due to being beholden to short term thinking shareholders. Our government goes back and forth between tax cuts and wars and enacting social programs. We haven't had a major technological break through to increase productivity since the internet. This has very little to do with whether or not we are recovering from the great recession. Its a totally separate question in my mind. So no lying going on. I've heard about these issues from people in and out of government for decades.
 
Dittohead not! said:
You can "prove" anything by citing the right internet site. Is he Earth really flat? Was the moon landing fake? Did Bush fake the attack on the WTC? Are there really Reptilians among us? It's all there, a few clicks away.

But look around you. Go to a mall, any mall. Are there shoppers there spending money? Get on the freeway, is it full of shiny new cars, or is it empty? Take a look around any middle class neighborhood. Are there a lot of vacant houses in disrepair? How about those homeless camps: Are they populated by desperate job seekers ala Grapes of Wrath, or are their denizens swacked out druggies?
Click to expand...

If labor participation rates are declining, then so should median household income. Not that many people make as much or more when they are not working as they do when they are working.
 
I think the report itself is pretty interesting.

Gallup, where you can download the report

changes in the level of taxation and government spending do not account for the long-term slowdown described in this report because the burden on businesses and taxpayers has generally decreased

What’s clear is that current strategies — dialing taxes up or down, injecting stimulus, lowering interest rates and enacting or repealing highprofile regulations — have not brought about long-term economic growth over the past three or four decades

Those things are pretty common sense, but it is nice to see acknowledgment of it now.
 
KLATTU said:
Despite what the ministers of propaganda have been telling us, the economy ain't doin' so hot.

US economy: No recovery, wages in reverse | Washington Examiner
A new report on the economy finds that productivity growth is at a 50-year low and that much of the positive talk about the nation's financial situation in the last election, much of it coming from the administration, was a lie.
Click to expand...

Compared to the EU the USA is in okay shape. But life support is nonetheless life support. And the batteries keeping the economy running is running down.
 
Harshaw said:
If you want to show the article is bunk, you could try to take on and refute what it actually said, which was not any of this.
Click to expand...

You mean like showing that the unemployment rate is way down, and the stock market is way up? That would be too easy.
 
Dittohead not! said:
You mean like showing that the unemployment rate is way down, and the stock market is way up? That would be too easy.
Click to expand...

You are again arguing against things the article did not say. I think you didn't even read it.

But if it's so easy, do it. Take the statements made in the article and refute them.
 
Dittohead not! said:
You mean like showing that the unemployment rate is way down, and the stock market is way up? That would be too easy.
Click to expand...

Well, then, let's wade through all of the many, many ads in the blog that started this thread and see what it is claiming:

The people are right. The economy is not working well. But the problems did not start with the Great Recession. For decades, the nation's income, measured as GDP, has barely grown overall; on a per capita basis, median household income peaked in 1999; the subjective general health status of Americans has declined, even adjusting for the aging population; disability rates are higher; learning has stagnated; fewer new businesses are being launched; more workers are involuntarily stuck in part-time jobs or out of the labor force entirely; and the income ranks of grown children are no less tied to the income ranks of their parents," said the report titled No Recovery — An Analysis of Long-Term U.S. Productivity Decline.
Click to expand...

The people are right. The economy is not working well. But the problems did not start with the Great Recession.
Click to expand...
unsubstantiated opinion.

For decades, the nation's income, measured as GDP, has barely grown overall
Click to expand...

Again, unsubstantiated. Does the author really mean that the GDP is barely higher in '16 than it was in '76? Really?

disability rates are higher; learning has stagnated
Click to expand...

Not only unsubstantiated gloom and doom, but irrelevant to the point being made.

None of the above is more than someone's opinion. There really is nothing to refute.
 
Dittohead not! said:
You mean like showing that the unemployment rate is way down, and the stock market is way up? That would be too easy.
Click to expand...

You could do that. But it wouldn't refute anything that is in that article.
 
MrPeanut said:
I thi

changes in the level of taxation and government spending do not account for the long-term slowdown described in this report because the burden on businesses and taxpayers has generally decreased

What’s clear is that current strategies — dialing taxes up or down, injecting stimulus, lowering interest rates and enacting or repealing highprofile regulations — have not brought about long-term economic growth over the past three or four decades

Those things are pretty common sense, but it is nice to see acknowledgment of it now.
Click to expand...

I wish people would read that instead of running immediately to their ideological camp and digging in.
 
KLATTU said:
I wish people would read that instead of running immediately to their ideological camp and digging in.
Click to expand...

The report shows that everyone is wrong. It's pretty great.
 
KLATTU said:
...like?
Click to expand...

Antiunionsim for one. Stock prices and dividends over American employment. Temporary jobs. Free market housing. Run away immigration (Reagan granted amnesty in '86) that floods the market with cheap labor and brings down benefits and conditions. Lexicon creation: "downsize" in stead of layoff; "vertical integration" instead of pyramiding and monopolizing. Deregulation which allows lowballing by bigger companies that runs smaller ones out of business or "vertically integrates" them under one corporate body. Free market healthcare and for profit hospitals that drive the costs out of the average person's reach, just like free market housing drives homes out of the average person's reach. The intentional closing of manufacturing in this country in favor of cheaper labor to drive up profit margins and increase stock prices leaving no place for average high school graduates to obtain good self supporting employment.

This list is well documented and quite long actually, but I think you get the point.

The Teamsters Union paid San Francisco drivers $13.06 and hour in 1983, and that was considered good money. Today, 33 years later YRC (Yellow Roadway Corp); a Teamster's union company pays starting wages of $18.14 and hour.

These are all economic and labor policies that have been forced into US employment by conservative governance and obstruction. The Democrats have done zero to ameliorate these problems because they're weak, but this environment as I say is the result of a hardcore conservative agenda.

But the conservatives are for the middle class...
 
jet57 said:
Antiunionsim blah blah blah

This list is well documented and quite long actually, but I think you get the point.
/i]...
Click to expand...

Hopefully a little better though out than that DNC propaganda { eye roll}

All those silly talking points can be summed thusly: " the facts of life are conservative thus businesses act in their best interest" ." " The private economy economy doesn't always do what the Central Planners want " nd that's mostly because the Central planners tend to be anti-business and business ignorant { think Obama, Pelosi,Reid}"
 
jet57 said:
Antiunionsim for one. Stock prices and dividends over American employment. Temporary jobs. Free market housing. Run away immigration (Reagan granted amnesty in '86) that floods the market with cheap labor and brings down benefits and conditions. Lexicon creation: "downsize" in stead of layoff; "vertical integration" instead of pyramiding and monopolizing. Deregulation which allows lowballing by bigger companies that runs smaller ones out of business or "vertically integrates" them under one corporate body. Free market healthcare and for profit hospitals that drive the costs out of the average person's reach, just like free market housing drives homes out of the average person's reach. The intentional closing of manufacturing in this country in favor of cheaper labor to drive up profit margins and increase stock prices leaving no place for average high school graduates to obtain good self supporting employment.

This list is well documented and quite long actually, but I think you get the point.

The Teamsters Union paid San Francisco drivers $13.06 and hour in 1983, and that was considered good money. Today, 33 years later YRC (Yellow Roadway Corp); a Teamster's union company pays starting wages of $18.14 and hour.

These are all economic and labor policies that have been forced into US employment by conservative governance and obstruction. The Democrats have done zero to ameliorate these problems because they're weak, but this environment as I say is the result of a hardcore conservative agenda.

But the conservatives are for the middle class...
Click to expand...

When you brought up Reagan instead of Obama and pointed to Reagan as the "Runaway immigration President", I stopped reading....

And just so you know, Unions don't produce anything....unless you count lazy, overpaid complainers. Businesses produce goods and services. Unions are like the government. Always great at thriving off of OTHERS money....but never really contributing a damn thing except problems.

Protecting the jobs of lazy do nothings HARMS the economy. We no longer need unions. There are PLENTY of worker protection laws in place now.
 
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NoLeftNoRight said:
When you brought up Reagan instead of Obama and pointed to Reagan as the "Runaway immigration President", I stopped reading....

And just so you know, Unions don't produce anything....unless you count lazy, overpaid complainers. Businesses produce goods and services. Unions are like the government. Always great at thriving off of OTHERS money....but never really contributing a damn thing except problems.
Click to expand...

Where in my comments did I say that Reagan was responsible for runaway immigration?

You should have read it more slowly. Now, go back and try it again.
 
NoLeftNoRight said:
When you brought up Reagan instead of Obama and pointed to Reagan as the "Runaway immigration President", I stopped reading....

And just so you know, Unions don't produce anything....unless you count lazy, overpaid complainers. Businesses produce goods and services. Unions are like the government. Always great at thriving off of OTHERS money....but never really contributing a damn thing except problems.

Protecting the jobs of lazy do nothings HARMS the economy. We no longer need unions. There are PLENTY of worker protection laws in place now.
Click to expand...
If businesses are so good at producing things without people why are they hiring them?
 
jet57 said:
Where in my comments did I say that Reagan was responsible for runaway immigration?
You should have read it more slowly. Now, go back and try it again.
Click to expand...

Like another said, your post appears to be leftist propaganda. You mentioned Regan and an immigration problem. Why didn't you specifically mention Obama?
I believe immigration has become a much bigger problem under Obama.
 
MrPeanut said:
If businesses are so good at producing things without people why are they hiring them?
Click to expand...

Nice TRY at twisting peoples wording.

YOU said that...not me.

Or are YOU saying ALL people are lazy do nothings?
 
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