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tar21 responded to a post about U-3 versus U-6 surveys, neither of which is based on eligibility or payment status of unemployment benefits. For either U-3 or U-6, if they were actively looking for work in the past month they count as unemployed even if they'd been doing so unsuccessfully for a decade.
Sometimes I hear about people talking about folks "dropping off the unemployed rolls" since have been looking for work for over a year, it makes no sense.
I'm reminded of the following scenario in the game of chess. A chess player is stooped over the board, analyzing a promising sequence of moves, eventually finding a flaw, and discarding the whole sequence. Then another move is considered, and another… all are unsatisfactory. The original move is reconsidered; maybe it wasn't so bad? But deeper reflection finds it to be ever more unsavory. And then, pow! – a new move presents itself. The player gleefully reaches over, moves his piece, and punches the clock, satisfied that deficient and uninspiring alternatives have been avoided… and then a moment later, the player is aghast to realize that he's just blundered.
Exactly what they will realize though I don't either option is truly good. The best we can do is vote for either so we cannot have congress decide it.
BTW, this started when I mentioned that SLC and the entire State of Utah is growing at a rapid pace. There is new construction everywhere, horrendous traffic and smog and petrochemical odors especially in the SLC metro area. There are huge coal fired plants, existing wind farms and new additions coming including huge new wind farms and the biggest field of solar cells I could ever imagine.
Oh. Ok. The Hawaii rates are before all the taxes and adders, of course.
I'm familiar with the poor air quality in Salt Lake City as I have a vacation home in Park City, a ski resort town about 20 minutes east of SLC.
Where are they putting wind farms and utility scale solar? We have some large utility scale solar near Las Vegas, of course - both photovoltaic and mirror-systems to keep salt above its melting point for energy storage over night.
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Where are they putting wind farms and utility scale solar? .....
I was in southern Utah, drove up I15 to SLC. I stopped in some of my familiar places in SLC, dropped the wife at the airport and spent the night in Logan, Walmart parking lot. I had previously driven through I15 from Idaho so a double dose of SLC was more than I could take in one year. Of course the Logan and airport areas are among the worst for petrochemical stench.
I decided it was time for some peace and quiet so I went through Delta on my way back south. A couple of years ago that was an enjoyable deserted stretch of highway. That is no longer the case. The huge wind farm is operational and the miles of support posts for the solar was nearing completion and ready for installation of the panels. I am not sure I remember the exact location but a bit north of Milford. Milford of course has been transformed and will soon be as ugly as any boom town. The views of the mountains have already been destroyed.
Thomas, QE is a uncapitalistic measure to self-enrich the few at the cost of the many.
Nope. QE is a measure to help the entire economy.
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The fed doesn't engage in QE to help the economy.
Untrue. The Fed engaged in QE for the benefit of the broader economy. It worked. It prevented a global collapse and depression the likes of which have not been seen since the Dark Ages.
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It engages in it for 2 reasons. 1) To get out of the mess of not having enough buyers for bond auctions which primarily is due to the fact they are fixing their own auctions.
Untrue conspiracy theory. No one is fixing auctions. There are more than enough buyers. Saying something over and over does not make it true.
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It's to provide a giant cushion of free liquidity to their banker friends and themselves to get rich
That's just silly. It prevented a global collapse and depression the likes of which have not been seen since the Dark Ages.
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...even while the rest of America suffers from their destructive behavior.
America benefited from the Fed & Treasury and various bank regulators. It prevented a global collapse and depression the likes of which have not been seen since the Dark Ages.
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It is quite apparent to all but the dumb and blind together that QE does not help the public or the broad economy.
You could not be more incorrect. Every reputable economist in the world, none of which are dumb or blind, disagrees with you.
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But that's not the point of it. Is it?
Yes, that is the point. QE, liquidity and recapitalization staved off the worst economic collapse the world has ever seen that would have resulted in a depression the likes of which have not been seen since the Dark Ages.
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Money and liquidity never should be created without creating goods or services.
You are wrong. Saying something over and over does not make it right.
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It's bad enough the government does it. A central bank without mandate from any democratic authorization should never be allowed such power. It violates our constitution among other things.
The central bank must be independent in order to operate, otherwise whack-jobs in Congress who can't even spell Economics would come up with conspiracy theories and undermine its mission.
There is not a single thing the Fed does that violates our constitution.
Saying incorrect things over and over does not make them true.
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The 5-year view of the Dow
