Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
People in Cadillacs are at the food banks. I do not jest on this matter. I have never seen such bleak times. Feeling Stimulated, yet ? NO ! Still not ready to jump off a cliff, however.
Remember how the Obama administration said that if we didn't pass their stimulus recovery plan then the official unemployment rate could get as high as 9%!?
Well, new unemployment statistics have just been released and they aren't pretty.
So how is that stimulus recovery plan working out for you all?
It's working on schedule, actually. Do you know what "lagging indicator" means?
It's working on schedule, actually. Do you know what "lagging indicator" means?
Wow. Just wow.
Delusianne, please tell those people who just lost their jobs today that they were "on schedule" to loose their jobs. Please tell the hungry at the food banks they are "on schedule" to be hungry.
If the schedule is working, then it was a pathetic, worthless, poorly planned schedule!!!!!
Unemployment is the last indicie to rise (in a downturn)
Unemployment is the last indicie to fall (in a recovery).
An analogy : the world economy is like a man who has suffered a massive coronary attack (economic implosion starting in August 2007 lasting until October 2008).
The man was put in to the ICU and put under intensive care
(Fed, ECB, Bank of Japan, Bank of England flooding the wholesale markets with quantative easing November 2008 - present : national stimulus packages in Germany, Japan, britain, France, Japan, USA, etc).
The man is moved to CCU : this is where we are now.
The patient is not going to die but the road to recovery will be years rather than months away.
It's working on schedule, actually. Do you know what "lagging indicator" means?
[chuckles]
I suppose in this context it means that Obama's stimulus plan is working (despite all appearances to the contrary) and that the statistics will eventually bear this out.
My expectation is that the unemployment will stabilize somewhere north of 10% and stay there. And if I am right about this then it means that the Obama administration was completely wrong about what their stimulus bill would achieve.
Delusianne, please tell those people who just lost their jobs today that they were "on schedule" to loose their jobs. Please tell the hungry at the food banks they are "on schedule" to be hungry.
If the schedule is working, then it was a pathetic, worthless, poorly planned schedule!!!!!
I apologize gsupstate, that was rough and mean. Im sorry. But I cant help it, it's a fact. An economy contracts >> lenders stop lending and businesses tighten up >> jobs disappear >> consumption slows >> more businesses fail >> more jobs disappear. As an economy improves, then businesses begin to rehire. What makes a huge economy come back to life - artificial stimulus from the biggest source of capital is the only way.
I suppose in this context it means that Obama's stimulus plan is working (despite all appearances to the contrary) and that the statistics will eventually bear this out.
[sighs]
Yes, it does. It's just taking longer than an episode of Law & Order.
I suppose in this context it means that Obama's stimulus plan is working (despite all appearances to the contrary) and that the statistics will eventually bear this out.
Lets look at some statistics then.
The fact of the matter is that US trade deficit has started to narrow
(you're starting to export more and import less).
Ben Bernanke (Fed Chairman) has cited an increase in consumer spending,
improved levels of inventory and better money supply, all indicate economic greenshoots.
IMF has said that there are grounds to believe that the bottom of the worst recession since the 1930's has been reached.
O.k., so how long will it take before the stimulus bill starts lowering the unemployment rate? Do you have any idea?
Historically, it takes 12-24 months for the effects of a stimulus to fully kick in.
Unemployment unfortunately is the lagging number in all of this.
It is the final link in the economic chain.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
