nytimes.com:
If you are looking for an economic recovery you can believe in, the October employment report is not for you.
Les Leopold: Why Billionaires Should Pay for the Jobless Recovery
For the past 30 years we have minted billionaires, and we have created the most unequal distribution of wealth since 1928-29. This didn't happen by accident.
U.S. Jobless Rate Rises to 9.7%, Highest Since 1983 (Update1) - Bloomberg.com
s.erious.ly | real-time topic-centric discovery
Jobless recovery - Wikipedia, the free encyclopedia
In Unemployment Report, a Sign of Continued Joblessness - NYTimes.com
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I get it. Corporations are people and since some of them are doing just fine and dandy it's a recovery and of course people are not entities like when the Shrub Administration decided that if someone quite looking for a job then it was ok to not count them as unemployed.
I get tired of hearing about this fake jobless recovery. You can not have a jobless recovery...a contradiction of terms. What they really mean is that the stock market can recover through increased biz overseas combined of course with controlled market manipulation. Bottom line, Americans are falling deeper and deeper into the abyss. With 500,000 new unemployment benefit recipients each month, the media sounds moronic and even con-like using the phrase 'recovery' at a time like this. We can not fake our way out of this collapse.
The problem is not government investments.
The problem is China - the largest outsourcing hub that took majority of manufacturing jobs. And India that made flourishing IT field a dry desert.
There is no way jobs will be created here if they can be done cheaply and without paying any taxes in other destinations. This is labor arbitrage brought instead and under disguise of free trade. That's why this is a second jobless recovery.
If anyone has bothered to read Keynes declining investment equals declining jobs. Nobody can deny there has been a great deal of public investment on the part of the Federal Government. But we also need *private investment* and here is where the problem lies. The private sector of the economy isn't, for a variety of reasons, investing as it should in the domestic economy. The figures I looked at the other day show private investment is way off. It was $ 2.26 trillion dollars in 2006. Last quarter, it was $1.5 trillion dollars.
Probably no shortage in overseas investments.
No more bailouts. No more too big to fail. more effort needs to be done to make work. Instead, unemployment keeps climbing as well as the deficit. Tax cuts and toehr stupid gimmicks aren't the answer.
hat tip to http://financeopinionss.blogspot.com
Gosh darnnit! It's NOT a recovery if there are NO JOBS!!!!!
Agreed, we are far from any "recovery" that I can see. Politicians need to get down to street level and then start judging if things are getting better in this country.
It's all smoke and mirrors. They seem to completely misunderstand the nature of the crisis ( a collapsing jobs bubble driven by a collapsing credit/asset bubble) and believe that if they say 'recovery' enough times we'll all go out and start buying truckloads of Chinese made junk with money we don't have like 2 years ago.
Madness!
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First Posted: 11- 9-09 11:24 AM | Updated: 11- 9-09 11:56 AM