#1 The homeownership rate in the United States has dropped to the lowest level in 19 years.
#2 Consumer spending for durable goods has dropped by 3.23 percent since November. This is a clear sign that an economic slowdown is ahead.
#3 Major retailers are closing stores at the fastest pace that we have seen since the collapse of Lehman Brothers.
#4 According to the Bureau of Labor Statistics, 20 percent of all families in the United States do not have a single member that is employed. That means that one out of every five families in the entire country is completely unemployed.
#5 There are 1.3 million fewer jobs in the U.S. economy than when the last recession began in December 2007. Meanwhile, our population has continued to grow steadily since that time.
#6 According to a new report from the National Employment Law Project, the quality of the jobs that have been "created" since the end of the last recession does not match the quality of the jobs lost during the last recession... (read more)
Lastly...
#17 The number of Americans receiving benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million.
Taken individually, those numbers are quite remarkable. Taken collectively, they are absolutely breathtaking."
Yes, things have been improving for the wealthy for the last several years. The stock market has soared to new record highs and real estate prices in the Hamptons have skyrocketed to unprecedented heights."
But that is not the real economy. In the real economy, the middle class is being squeezed out of existence. The quality of our jobs is declining and prices just keep rising."
BTW... If you are considering blaming the President of the USA, you better think again...
45 comments:
And yet, people here are stating that the only reason people aren't getting jobs is because they're getting too fat on unemployment compensation.
Well, in all fairness, Icepick, the Sunday newspapers they read have 30 or more pages of help-wanted ads.
Frankly, I don't see a goddamned bit of daylight between the President and the Republicans on this. Not a goddamned one of you want to do a fucking thing except what you've always wanted to do. Republicans think if they reduce welfare benefits to zero*, then we will all run out and get jobs. As though jobs were available. Dems think if we just add more welfare we'll get more jobs.
Not a goddamned one of you is willing to propose or consider anything that wasn't in your party platforms 20 years ago.
* Well, welfare for the poor. Republicans love giving big defense firms more money, and wealthy ranchers out west. After all, the rich have EARNED the right to get fat off the government teat. Which was why Republicans were all in favor of expanding Medicare benefits during the Bush years, because THAT was just more corporate welfare. (My then employer saved a HUGE chunk of money thanks to that legislation.)
Sure they do, Eric. And they are absolutely unwilling to hire anyone that has been out of work for more than a year.
Like I said, you bastards on the right are loving this economy as much as those bastards on the left are.
I think you might have dialed a wrong number there, buddy.
I was agreeing with you.
Perhaps my sarcasm was a bit too subtle.
Icepick- there are fundamental differneces between the parties. I oppose all corporate welfare- I just read Texas gave Toyota $40 Million to move 4,000 jobs from California.
The problem to me is none of these parties view the world from the perspective of the average young American's lifecycle which typically is .....school, marriage, work for 45 years, own a home, send the kids to college and save some money for retirement.
Where and when do any of those overriding themes get discussed in the Imperial City? These themes should be all they focus on everyday- how do we help young Americans travel successfully down these 4-5 paths over their working lives?
They should be making it far less complicated to achieve those goals and they should stop with all the other games.
But it is all BS- the Dems push racism, over the top gay rights, minimum wage bluster, bigger and bigger college loans when kids can't pay back the current loans, rob them of their social security contributions and add more and more welfare programs for a lot of people who don't even try do the right things to succeed.
While Repubs are the counter punchers - they only react to the dumb Dem ideas but rarely propose policies to help fix the fundamental problems.
My two cents.
"people here are stating that the only reason people aren't getting jobs is because they're getting too fat on unemployment compensation."
So you are suggesting that doesn't happen everyday all over this nation just like it does in every other nation with easy unemployment benefits? I know first hand that people make that choice all the time. They have refused jobs from me with that exact stated reason. I don't blame them. Being paid and not having to go to work beats working. I have done it myself, but only because I could, and it was easier -not because it was smart for me, my family or anyone else.
I have job openings virtually every day. The only thing stopping people from getting hired is lack of skills and/or wanting to much money to start. If you want to work, it's impossible to not get hired if you accept what you are worth on the open market. Face it.
If you wait for corporate greed or government corruption to end before you do what you have to do in your own life, then you simply won't do it.
Fuck them all. You are your own savior or oppressor, and the rules won't change just to make it easier for the little guy. If you can't make it in this nation at this time in history, then where would you have been through most of the rest history?
I might be bankrupt at this time next year, and it could easily happen overnight for reasons beyond my control, but I won't be blaming anyone else. That's the game, and it's the only one there is.
" Repubs are the counter punchers - they only react to the dumb Dem ideas but rarely propose policies to help fix the fundamental problems."
Yes, they are inept, unintelligent, uncreative and often corrupt, but the Democrats are all that plus completely wrong, supremely arrogant, and frankly just nuts at the same time. An easy call for me, because I'm just a simple college drop out. I'm not equipped to overthink things.
Bago - every day our govt [especially the federal govt] makes it harder and harder to reach the end zone. They actually put obstacles in front of people like overpriced college tuition or an excess number of govt forms, regulations, taxes, etc.
But I do agree with you that unemployment has created a system where people won't take a job until their benefits run out. I have seen it in my buddies who work in construction.
"Yes, they are inept, unintelligent, uncreative and often corrupt, but the Democrats are all that plus completely wrong, supremely arrogant, and frankly just nuts at the same time. An easy call for me, because I'm just a simple college drop out. I'm not equipped to overthink things."
Bago - I agree with that 150% especially the "frankly just nuts" part. Dems did not get the logic gene except when it comes to figure out how to win elections.
The Modern Day American Elite. All fat, comfortable and self-entitled. That oppressive blonde bitch (compliant and sympathetic representative of the Fourth Estate) better not make him late for lunch or heads will roll.
Repubs are the counter punchers - they only react to the dumb Dem ideas but rarely propose policies to help fix the fundamental problems.
Gotta dissent from this view. IMO, THE fundamental problem is K-12 education, esp. but not exclusively at inner-city schools. Repubs have been pushing for the various types of school choice for a long time, resisted bitterly by the Dems.
But in general, if you're basically for smaller gov., aren't you usually going to be counterpunching? The exception, as in the case of public schools, is when the object of reform is the gov itself.
Chip- I was speaking more from a federal perspective and don't believe edcuation should be a federal role except perhaps for compiling historical stats and performance records. I wish Repubs would be more proactive in proposing fundamental reduction of fed involvement [and associated spending] in our lives. And showing Americans how they will keep more of their own money as a result.
I agree with you that Repubs and Cons have done great work in pushing charter schools.
If your employer offered you 70% of your pay to not show up, and do whatever you wanted with your time, how many of us would turn it down? Now, imagine if they push you out the door while they are at it? Who is gonna try real hard to find a new job at the same pay? At less pay?
I'll tell you who. Your future boss who will be hiring you at whatever pay they want when your unemployment runs out.
The entire point of unemployment insurance is to enable people to obtain employment commensurate with what they've lost.
Look it up.
You mean to tell me that the stated objective of a government program didn't work out like planned while still paying out money? I just can't belive that would ever happen. Government solutions always work as planned.
Warning--pedantry alert.
Yes, the point of insurance is to restore what you've lost. But many types of insurance induce what's unfortunately called "moral hazard"--some more than others. Unemployment insurance serves a useful purpose in helping people thru unemployment spells, but it also has the effect bagoh is talking about.
The effects on the long-term unemployed can be indirect, and therefore difficult to link to UI. For instance, one business is a supplier to another. The downstream business would employ (let's say) 10% more workers except for extended UI benefits. That would reduce costs a little bit for the upstream firm, which would then hire a couple more workers. Instead, there are some upstream workers who are unemployed who see no link at all b/w their status and somebody else's UI benefits.
It's hard to cut the UI benefits, b/c that causes real pain to the long-term unemployed. But that's part of what keeps us in a sluggish "recovery".
The point again is that if you don't believe the government will solve your problems, then you better look to who can. If you do believe the government is there for you then you don't need to do anything.
...employment commensurate with what they've lost.
Who sez? Only if you believe in guarantees. A fantasy. Not that different than the fantasy that the business cycle can be repealed, that massive economic screwups mustn't result in companies going under, that everyone can be "saved" by brilliant government technocrats working their Keynesian magic: the REAL reason the country's in the tank.
Both establishment parties service the very rich and the very poor (in order to increase services to the very rich). Jackwagons like this fat fuck Bennie Thompson pretend to care about racism but it's just an obvious screen for an ideology that requires poor people to stay poor, and everyone to meekly remain in their government-assigned boxes and not get uppity with their betters. No better example of establishment political willfulness than amnesty. Americans do not like amnesty but it keeps coming up - why? Because the political establishment, big government, wants it. For low cost workers (and that's a bipartisan desire - don't put it all on Repubs) and for votes (Dems only, be real). Amnesty will have the effect of totally screwing over the middle class forever by eliminating jobs and guaranteeing a one party state. (It also will screw over the amnestied and let the Mexican political establishment off the hook in caring for its own citizens, not that anyone in either political establishment actually cares about these poor pawns/serfs.) Everyone in the middle is just grist for the mill. We're the fucking ATM. Many on the right realized this a long time ago. Hence, the extremely extreme extremist Tea Party. Lefty partisanship and its delusions of moral superiority have blinkered most on the left from reaching the same conclusion even though it's right in front of their faces.
The minimum wage is just the tip of the iceberg on the attempts of government trying to destroy small business.
There is a bill pending before the NYC Council which would prohibit employers from asking prospective employees have a criminal record. A trucking company can not ask if a job seeker has any DUI's. A pre-school can not ask if a job seeker was convicted of a sex crime. A boutique can not ask if a job seeker was convicted of shop lifting or burglary.
It is all of a piece with the move to give voting rights to convicted felons.
Deviant behavior is being normalized and codified into law. If you stand against it you can lose your business to fines and taxes.
The minimum wage is only one arrow in the quiver of the progressive attack on business big and small.
GDP grew a whole big .1% 1st quarter.
VDH calls it the Great Stagnation, and he is so right.
Edutcher:
Great stagnation is a good one but and I think it was caused by the huge Confidence Deficit most of us have due to the Dem/ Obama policies.
You get no argument from me.
My hubby and I are doing super, thanks for asking Huge bonus this year, nice increases this year, he received 15% in stock and I received 14% of our salary in stock from our companies, our portfolio is through the roof and both our lofts prices have sky rocketed!
Everything' cumming up roses!
If you take out the increase due to higher healthcare spending caused by Obamacare, you would see the GDP actually decreased. Recession?
The reason the GDP is not growing is simply too many wasted resources. Too much of the wealth created is being sucked into new taxes and regulations which have doubled in cost under 1 term of a single President. Well done, Obama voters.
All that money and time to comply is simply lost productivity and real investment that has now been flushed down the drain, along with its multiplier effect. It's now a big fat ass on us all that we have to drag around as we try to compete in the global race. Maybe we will get a participation trophy to cash in for groceries.
"Everything' cumming up roses!".
Yea, but you still suck, so...
Titus- it is a great country isn't it when a maroon like you can keep his job.
He got his and foolishly thinks it can't be taken away and redistributed. Everyone is just one lawsuit and/or regulation away from being fucked up.
Amartel:
Agreed and would add to that just one more giant recession caused by i.e. a bank crisis from seeing the economy tank again.
There was a really interesting "report" that came out a few months ago about "where u live" determines your future earnings.
Some parts of the country experience stagnant wages forever and others move up rapidly through the socioeconomic class.
thankfully, i live in a part of the country where we move fast-motion, motion!
tits.
Titus- it is a great country isn't it when a maroon like you can keep his job.... you may be surprised but I do my job very well and am loved dearly.
My "people skills" are fierce and my hubby's technical skills are even better.
tits.
And I love "parts" of this country dearly!!!!
True dat.
But a banking crisis would affect everyone and would be reported. It's the little anonymous individual crises brought on by government overreach that are eroding the confidence of the middle class, one by one. People who are doing well think they're invulnerable, that "the system" is working just fine, everything's cumming up roses. Then someone sues you because your building isn't handicap accessible or you side-eyed your sloppy tenant just one too many times or you cut down a tree which overhangs the neighbors' yard or you can't have smoking in your bar anymore etc. etc. etc. Or some asshole of a chief executive thinks government-run healthcare like them fine folks over in Yurp is a smashing idear and then you get cancer and they give you free aspirin and expect you to say thanks great job.
"My "people skills" are fierce..."
Obviously.
Amartel said...
He got his and foolishly thinks it can't be taken away and redistributed. Everyone is just one lawsuit and/or regulation away from being fucked up.
That's why people move out of Lefty paradises like Taxachusetts or Califony.
They're shocked to realize the filthy rich are them when they get their taxes.
Then they go infest some nice Conservative place like Vermont or Arizona so they can keep their money, but they need that Lefty feeling of superiority, so they insist on having their politics, too, which louses it up for everybody.
Vermont is a conservative place?
I have learned something new.
But yeah, I get your point.
"People skills" = 1st in line at RIF time.
Amartel said...
Vermont is a conservative place?
I have learned something new.
It was, once.
Like Califony was a bastion of Conservatism.
My husband and I could literally walk across the street and get 5 other offers in Biotech, Health Care, High Tech or New Media.
Headhunters call me daily-its becomes tiresome.
Also, a unit in either of our buildings has bidding wars with multiple offers way above asking price. It must be sad to not live in that type of market. As the real estate queens across the hall from me say, inventory is scarce!
The San Francisco market and NYC market are best in the US currently.
How is your market fellow pubes?
Our market is so fab.
I'm always amazed that people talk about the economy and never mention immigration.
If you're allowing in 2 million people a year (legal and illegal) and many of them have no skills, that's a massive burden on the economy. And if you're importing 500 or 600 thousand smart people who are competing with American citizens for jobs as Engineers, Scientists, computer programmers, accountants, nurses, and doctors, its going to have an effect.
And I work now, most of the year, on the West Coast and the economy is booming. If you have the right kind of job and make the enough money, its pretty sweet. It seems like everyone has a BMW or Mercedes. ND is going great too - as is NYC and New England
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