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The dems will blame the republicans regardless of facts. They will ever claim the Economy has had anything to do with them
Republicans are the same side of a different coin and will blame democrats for the same thing. Neither side is no better or worse than the other. This is why I am a registered independent. Do I sway more Republican, sure but I am definitely NOT a tea party bandwagoner even when I vote Republican. Call me a RINO and I'll show you how much I care.
It's a conundrum, strong unions used to fight for wages and benefits and trained members, but capitalism dictates going oversees to reduce labor or just outright automate a job now the world has over awoken.
No he is right. A good chunk of private wealth was lost. If you didn't panic, you should be alright maybe better.
Quote:
Originally Posted by BigJon3475
The House of Cooke. The industrialization of grains/agriculture in America undercutting grain/agriculture production in Russia and C. Europe. That froze credit markets, inter-bank lending and the stock market (which closed for 10 days at one point).
Anyways, the point is America was gaining economic power at a tremendous rate. Now the opposite is occurring with us playing the role of Britain and China, currently, playing the role of the US. Next up will be the rest of Asia/India spreading into the ME and then into Africa. There's also one other major difference and that's the billions of people moving into the middle class which puts a huge constraint on resources and supply which will cause prices on pretty much everything.
It's not too surprising that developing nations are outpacing developed, but it's the pace that is a bit disconcerting.
I hope the right can wake up to the fact that it's not going to be the private sector that will save us, but smart government spending.
The over exaggeration? Really? The world's economies went into deflationary period with some lasting until 1895.
100,000 people were unemployed in NY alone. That was 25% of the working population.
The "Great Recession" was just that and that's why it's not called a depression. Mircea calls it the "silent depression" (if I recall correctly) and he's right because the decline will continue for decades on end.
I've read as high as 14 percent nation wide, but that it definitely was in double digits. We saw good economic growth but too many were unemployed.
The over exaggeration? Really? The world's economies went into deflationary period with some lasting until 1895.
100,000 people were unemployed in NY alone. That was 25% of the working population.
The "Great Recession" was just that and that's why it's not called a depression. Mircea calls it the "silent depression" (if I recall correctly) and he's right because the decline will continue for decades on end.
I would say that it was a silent depression as while it didn't last as long as a true depression, it didn't act like a recession would and is still causing economic grief. Are we back job numbers wise, yes. However, we are not caught up with the wages as they are stagnant and lower on average than they were before because middle and higher wage jobs were lost while low wage jobs were created to "replace" those jobs lost.
Unemployment is going down while SNAP enrollees are increasing.
Not a very good long term picture here folks.
One year change..SNAP is down 2.09%
Five year change..SNAP is up 45% (Harry Reid's state leads the pack with a 105% change over 5 years)
15% of the US population are on SNAP benefits.
So while people are getting jobs, those jobs are not paying enough to live the good life in America.
Unemployment is going down while SNAP enrollees are increasing.
Not a very good long term picture here folks.
One year change..SNAP is down 2.09%
Five year change..SNAP is up 45% (Harry Reid's state leads the pack with a 105% change over 5 years)
15% of the US population are on SNAP benefits.
So while people are getting jobs, those jobs are not paying enough to live the good life in America.
I just posted that in 1 year it is down but in 5 years it is UP 45%.
How long do you think it will take for SNAP to get back to pre-recession levels ?
The "working poor" will not use SNAP until they get back on their feet. They are on their feet and SNAP is part of their budgets now.
For many SNAP is not temporary. SNAP figures just point out that there are many people underemployed and need this subsidy.
The over exaggeration? Really? The world's economies went into deflationary period with some lasting until 1895.
100,000 people were unemployed in NY alone. That was 25% of the working population.
The "Great Recession" was just that and that's why it's not called a depression. Mircea calls it the "silent depression" (if I recall correctly) and he's right because the decline will continue for decades on end.
Dude, you just quoted another C-D poster as if he was some famous economist.
I do like how you say the Great Recession is called just that, and then dont realize that the Panic of 1873 isnt called a depression either.
I just posted that in 1 year it is down but in 5 years it is UP 45%.
How long do you think it will take for SNAP to get back to pre-recession levels ?
The "working poor" will not use SNAP until they get back on their feet. They are on their feet and SNAP is part of their budgets now.
For many SNAP is not temporary. SNAP figures just point out that there are many people underemployed and need this subsidy.
Probably in 5-10 year depending on how much companies want to pay their employee and if they realize if all companies want cheap labor then no one will be able to buy all their products.
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Yet, while low-paying jobs accounted for only 1 of 4 job losses during the recession, they accounted for almost half of the gains:
