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Maybe if we'd had a President other than Clinton we wouldn't have lost so much in 2000....
The loss in 2000 was because of investor frenzy in internet firms that had no real source of income. The stock market crash in that year had little impact on the overall economy.
I remember my account had a much higher positive value. Now we are close to where we are before and i am still at a loss on some of my stocks. I have to wonder where all that money went to... To think i had double digit gains and now have losses at the same point in the DOW and none of them are bank stocks... This recovery sucks...
Government jobs accounted for just 8% of new jobs created in the past year - they just all came about in the 2nd half of the year. In the first half of the year, government was still shedding jobs, in the 2nd half all that changed and government employment began to rise.
That increase in government employment over the last 5 months is merely an indicator that increasingly state and local governments' budgets are once again stable. State and local governments were shedding jobs continuously for nearly 2 1/2 years with jobs being lost every month that were offsetting the gains in the private sector. NOW, it appears that that continual shedding of government jobs is OVER - which is GOOD news for the economy. It means that tax revenues are now sufficient at the state and local level to support some government HIRING - instead of FIRING.
Ken
yet you say NOW we are recovering? Even though the dollar has lost more purchasing power AND household income is down from 54k to 50 k from 4 years ago.
Come back when we have real job recovery and lower unemployment when EVERYONE is counted and not some hand picked numbers by the powers that be.
Tax revenues are now sufficient yet we are further in debt? good call on your part
When you are in debt the answer isn't to spend more money. Of course your answer is to spend others money. Gee now the problem is fixed.
Who is going to pay for this massive debt?
Snake oil for sale come and get some!
Last edited by Loveshiscountry; 01-05-2013 at 09:53 PM..
You can call it whatever you want. I'm sure the people who've recovered the loss that occured during the final Bush years are happy to have gotten it back under Obama. Maybe if we'd had a President other than Bush we wouldn't have HAD the loss to BEGIN with.
Ken
Our economic collapse was a result of the bipartisan manipulation of the free market in Housing. Bushes bailouts didn't work and neither did Obamas except to help out the hand picked winners and losers.
You had no idea what caused the collapse, you didn't see it coming and the big government hacks YOU follow didnt see it soon enough either. Yet you continue to comment? Go sell your snake oil elsewhere.
The ones I follow said it as early as the mid 1940's and specifically addressed it for housing in the 1979 edition.
Hazlitt Economics in One Lesson Credit Diverts Production Economics in One Lesson
"The case against government-guaranteed loans and mortgages to private businesses and persons is almost as strong as, though less obvious than, the case against direct government loans and mortgages. The advocates of government-guaranteed mortgages also forget that what is being lent is ultimately real capital, which is limited in supply, and that they are helping identified B at the expense of some unidentified A. Government-guaranteed home mortgages, especially when a negligible down payment or no down payment whatever is required, inevitably mean more bad loans than otherwise. They force the general taxpayer to subsidize the bad risks and to defray the losses. They encourage people to “buy” houses that they cannot really afford. They tend eventually to bring about an oversupply of houses as compared with other things. They temporarily overstimulate building, raise the cost of building for everybody (including the buyers of the homes with the guaranteed mortgages), and may mislead the building industry into an eventually costly overexpansion. In brief in the long run they do not increase overall national production but encourage malinvestment."
I remember my account had a much higher positive value. Now we are close to where we are before and i am still at a loss on some of my stocks. I have to wonder where all that money went to... To think i had double digit gains and now have losses at the same point in the DOW and none of them are bank stocks... This recovery sucks...
Plus you are comparing it to a number and not the value of the what the dollar can purchase today. When you reach the same numbers you are at before the collapse and the purchasing power has plummeted, you have still lost.
yes the recovery that wasn't sucks
The loss in 2000 was because of investor frenzy in internet firms that had no real source of income. The stock market crash in that year had little impact on the overall economy.
Ken
lmao Little impact. The Housing bubble was created to combat the dot com bubble.
You are speaking of symptoms when you spew internet frenzy. Gee how was that frenzy started? Animal instincts?
The loss was the same reason reason as the housing collapse. Free money. Lower than market interest rates which entice the mal investment. You have no idea what caused the dot com bubble or the housing bubble yet continue to comment.
Just keep on cheerleading. I'm done here.
You'll defend the great market conditions for a while.
The tide will turn and you will disappear until it's back up again.
And to debate wall street market conditions you'd be better served doing it in the economics forum under investing.
Looks like someone lost an argument and gave up, the extreme right cannot handle that the economy is doing better. Is it perfect..no, but showing a big comeback.
yet you say NOW we are recovering? Even though the dollar has lost more purchasing power AND household income is down from 54k to 50 k from 4 years ago.
Yes we are RECOVERYING. The PRIVATE SECTOR has been adding jobs for more than TWO YEARS now. The PUBLIC SECTOR - not at the FEDERAL level but at the STATE and LOCAL level - was still shedding jobs until recently. Those job losses were not enough to keep job growth from being positive, but it WAS enough to make it LESS than it would have been OTHERWISE. Those state and local public sector job cuts are now ENDING as well.
Come back when we have real job recovery and lower unemployment when EVERYONE is counted and not some hand picked numbers by the powers that be.
Everyone IS counted.
Tax revenues are now sufficient yet we are further in debt? good call on your part
The debt is at the FEDERAL level. Most STATES and many municipalities and county governments are now in good shape financially. Nearly every state has some sort of "balanced budget" law, so, they have cut their budgets over the last couple of years - that's WHY there was net loss of GOVERNMENT jobs until 6 months ago - because State and Local governments were cutting jobs over the last 2 1/2 years.
Now - for the most part - that cutting is DONE (not yet ENTIRELY, but MOSTLY). In addition, state and local government tax revenues have largely stabilized and in fact are generally INCREASING again - while at the same time State and Local spending has been dramatically reduced from what it was 4 years ago. The result is that state and local governments are - at least to some degree - able to hire again, filling some positions that needed to be filled - but which they didn't have money to fill before. Federal debt continues to grow, but State and Local government debt has STABILIZED.
What part of the fact that "Government" comprises MORE than just the FEDERAL government do you not understand?
When you are in debt the answer isn't to spend more money. Of course your answer is to spend others money. Gee now the problem is fixed.
Who is going to pay for this massive debt?
Again, you are talking about the FEDERAL debt. The individual STATES have - for the most part - stabilized their budgets. That's WHY they have begun hiring again.
Snake oil for sale come and get some!
It's called "knowledge" and "common sense". Why don't you try it instead of your constant ignorant fear-mongering?
Ken
Last edited by LordBalfor; 01-06-2013 at 06:01 AM..
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Go sell your snake oil elsewhere.
