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This is a critically bad economic situation. All the politicians in Washington are wrecking this country because they are simply incompetent. They do not understand basic economics. And it starts with Clinton, through Bush and now Obama and company.
But, the people continue to vote for their special interest single issues, or their political leanings (left and right, which are equally demented).
We need to invest in long term assets - factories, practical transportation, relevant education (math, language and science, not bullcrap courses for social re-programming).
And we need immigrants with skills, not needs.
Businesses and people are holding onto their money (that is why interest rates are near 0%) because they lack faith in the future of this country. And that is simply the fact.
They have no faith at all in this government. The only ones investing are the ones being bribed by the government with deals that are so favorable that they cannot walk away from them.
But overall, most of the real money people (and businesses) are holding on to their cash...even taking rates of 1%/year.
The most dangerous thing is that so many businesses are international now, that they can easily (legally and rightfully) keep their capital overseas in safer environments. And that can be dooming.
This is a critically bad economic situation. All the politicians in Washington are wrecking this country because they are simply incompetent. They do not understand basic economics. And it starts with Clinton, through Bush and now Obama and company.
But, the people continue to vote for their special interest single issues, or their political leanings (left and right, which are equally demented).
We need to invest in long term assets - factories, practical transportation, relevant education (math, language and science, not bullcrap courses for social re-programming).
And we need immigrants with skills, not needs.
Businesses and people are holding onto their money (that is why interest rates are near 0%) because they lack faith in the future of this country. And that is simply the fact.
They have no faith at all in this government. The only ones investing are the ones being bribed by the government with deals that are so favorable that they cannot walk away from them.
But overall, most of the real money people (and businesses) are holding on to their cash...even taking rates of 1%/year.
The most dangerous thing is that so many businesses are international now, that they can easily (legally and rightfully) keep their capital overseas in safer environments. And that can be dooming.
If you knew anything you would know that the GOP insisted that the stimulus include less effective tax cuts over infrastructure spending.
Even now they are opposing new infrastructure spending.
We only have two choices....between a bad party and a really really bad party.
This ignorant myth that both sides are equally wrong is a bunch of B.S.
If you knew anything you would know that the GOP insisted that the stimulus include less effective tax cuts over infrastructure spending.
Even now they are opposing new infrastructure spending.
We only have two choices....between a bad party and a really really bad party.
This ignorant myth that both sides are equally wrong is a bunch of B.S.
It's just that...What the GOP is now opposing?...I'd have to say we are in a much more complex situation...through the fault of both parties.
These are career politicians (both parties) that rely on their business friends or academics that have their idealogical leanings...Not a good course for long term economic well being.
Could you link to your posts showing the "real" unemployment rate under Bush at 14%?
That would give you some credibility.
Otherwise your just yet another partisan taking a seldom used, arcane measure of unemployment to make the guy you don't like look bad.
Been following this and using these very charts since 2007 when the economy blew up.
That chart has U6 going back..did you even look at that chart ?
No partisan here...that alternate data goes back to 1994.
The Fed has been modifying their model over the years for most government based data..UE, CPI, M3 has disappeared but shadowstats still shows it.
Shadowstats is no partisan; they just use the raw data produced by the reports and feed the data into the old model calculations.
Could you link to your posts showing the "real" unemployment rate under Bush at 14%?
That would give you some credibility.
Otherwise your just yet another partisan taking a seldom used, arcane measure of unemployment to make the guy you don't like look bad.
Then when your side is a back in power you'll go back to the standard measure of unemployment.
This is not fair...I'm having an argument with HappyTexan on another forum, and now you have me defending them...
Anyway, if you look at the HappyTexans link, it has a chart going back a good number of years.
If you look at the article I linked, it also discusses pror years rates.
I do not know anything about the source for the alternate article that the HappyTexan linked...But, I would say the official rates of the government are bad enough.
Paul Krugman posted long before the Stimulus bill passed that it was too small, too loaded with ineffective tax cuts, and too little infrastructure spending.
Thanks to 100% GOP bloc voting allied with a handful of corporate owned Blue Dog democrats that's the only thing that could pass.
Now wimpy Obama has put up yet another half measure of tax cuts/spending that will do very little, hoping that the GOP will have pity on him and vote for the bill.
The ONLY faction that is sticking up for middle class Americans, the jobless, is the progressive wing of the Democratic party pushing for more infrastructure spending.
The Tea Party has no clue. Their members don't have the IQ to know what is and isn't good for them.
I do not know anything about the source for the alternate article that the HappyTexan linked...But, I would say the official rates of the government are bad enough.
A bit of background on shadowstats:
ShadowStats :Independent Research Partners
"The website is built on the simple premise that the US Government can and has changed the parameters for certain politically sensitive statistics over the years. By going back and using the old or alternative definitions for inflation, unemployment and the like, John Williams is able to demonstrate how publicly released statistics can vary significantly from reality."
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It's not all that simple though is it?
