Stimulus Not Multiplying? (unemployed, enemy, illegal, highway)
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Another one you've had a great deal of trouble with. You're getting to be like a drowning man offering swim lessons.
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Originally Posted by hawkeye2009
Saggy, can you tell us exactly how "saved jobs" is measured? I kept my job. Did that count as one of Bammer's "saved" jobs? Liberalism is entertaining, if nothing else.
It's not liberalism, it's economics, though it seems that each escapes you equally. Jobs saved are being estimated in two ways. Primarily, and as is always the case when an actual situation is being compared to what an actual situation would have been under other circumstances, they are modeled. Ms. Romer testified recently as to what those models show -- about 1 million jobs saved or created to date with the confidence interval running from 600K to 1500K. Second, those who are recipients of actual project support funds are asked to supply specific information about jobs related to their projects. In their never-ending search for more arguments-from-the-outliers of course, right-wingers have spoken almost endlessly for some time now of the lady in Florida who when told to multply by 1.84%, mutliplied by 1.84 instead of .0184, thus coming up with a savings of some 900 jobs instead of 9. This is what people who have no actual arguments are reduced to.
so you would agree that the rising unemployment numbers mean bad news for the economy overall?
The issue is no longer the rise in unemployment but the rate of the rise in unemployment. Of course if the sole object is to poke a stick in the administrations unemployment projections, then I will step aside and let you have your fun.
Even if they were saved, that would only be a temporary measure.
Get a grip...ALL jobs are temporary. The stimulus package was not designed to be a new economic paradigm going forward. It is a two- to three-year bridge to help the broader economy put the brakes on the Bushie free-fall, and then start making our way back toward higher ground. Think of when contractors move in to renovate a classic downtown building. Rather than razing it, they erect a system of steel supports to protect the facade while the entire inside of the building is being gutted and rebuilt. The stimulus is like those supports. They aren't meant to be a permanent part of the building.
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Originally Posted by HappyTexan
Will these folks then get layed off once the spending is done...
Some will, some won't. But either way, they have jobs now, and those that they buy from have jobs now as well. Hard to see how that's bad. Many project-oriented jobs are characterized by moving from one job to the next. When you're done paving a road, for instance, you are out of a job unless there is another road to pave somewhere. In normal times, the number of pavers would be in some sort of balance with a fairly stable rolling demand for paving services. When a crash occurs, demand collapses, and maybe you pave one road, then wait three weeks to be able to pave another. The stimulus tries to help fill in those gaps for a while. Get it?
So your argument is $288B in tax cuts were to make people healthier, smarter, provide people housing, transportation and save the environment? I thought it was to stimulate, and here you come telling us that wasnt the intent
If you'd ever looked at so much as a summary of what the stimulus bill contains, you wouldn't have embarrassed yourself by asking such a question.
so you would agree that the rising unemployment numbers mean bad news for the economy overall?
To the extent that we want to retun to those days of not so long ago when the economy enjoyed steady and sustainable growth, and a much larger number of people than today enjoyed stable employment and income opportunities and were even able to amass some savings and wealth along the way, yes, rising unemployment would be a bad thing.
and they have an even worse plan in store for us now:
The Fed has been informed by dealers that they would be willing to enter into very sizable amounts of reverse repos with the Fed, if asked to do so, provided they could get some relief from Tier I capital constraints, MNI also understands.
Ah, the old "let us lever up and we'll do it, but if it blows up, we'll then be back at the public trough for another bailout since we're too big to fail."
Two words need to be spoken to these clowns by Congress; the first begins with "F" and the second with "Y". (denninger)
I'd suggest you ignore racetrack touts such as Denninger. Meanwhile, the act of engaging in reverse repo's would itself tend to push the capital-to-asset ratios of many dealers into violation of Tier One capital requirements. It's hardly unseemly to be asking for a pass on that if the Fed itself is the one deciding to go that route.
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Originally Posted by floridasandy
in case you haven't noticed the leveraging is INCREASING, not decreasing, since the US is becoming the carry trade due to our depreciating dollar so who's watching now?
How would you describe the situation today in comaprison to that in 2004...
A) Very similar; B) Somewhat similar; C) Not at all similar
The issue is no longer the rise in unemployment but the rate of the rise in unemployment. Of course if the sole object is to poke a stick in the administrations unemployment projections, then I will step aside and let you have your fun.
It seems I've missed the memo.
When did this imaginary change from "rising unemployment" not being the issue to "rate of rise".. January 20th?
If you'd ever looked at so much as a summary of what the stimulus bill contains, you wouldn't have embarrassed yourself by asking such a question.
I have, maybe you should follow your own advice
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Originally Posted by saganista
That's not an answer to the question.
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