Where is the US economy headed?

@roger,

roger wrote:

On the right track there, at least unless the $6.6 billion unexpect revenue is accompanied by 6.6 billion or more unexpected expenses.

True, but our problems for the last 2 or 3 years have been low revenues moreso than an explosion in spending.

Cycloptichorn

0 Replies

@H2O MAN,

H2O MAN wrote:

Outlaw federally funded healthcare
Outlaw employee provided health insurance.

Do this and let the private sector offer simple health
insurance without the government mucking things up.

1 Reply

@Cycloptichorn,

Cycloptichorn wrote:

Why we are doing ANYTHING but working on getting that jobs number higher, I have no idea.

Cycloptichorn

With all due respect, Cyclo, that is an absolutely asinine comment. Sorry, dude.

1 Reply

@H2O MAN,

Are you talking about this type of simple health?

part1
http://www.youtube.com/watch?v=SKImQ-0BQHE&feature=related

part2
http://www.youtube.com/watch?v=VuhHQWQs2-8&feature=related

part3
http://www.youtube.com/watch?v=juhGMEWZqNk&feature=related

part4
http://www.youtube.com/watch?v=xlk3ltydTlY&feature=related

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@realjohnboy,

realjohnboy wrote:

Cycloptichorn wrote:

Why we are doing ANYTHING but working on getting that jobs number higher, I have no idea.

Cycloptichorn

With all due respect, Cyclo, that is an absolutely asinine comment. Sorry, dude.

You think so? Receipts are way down for both state and federal government. Nobody really talks about that end of it anymore tho.

Cycloptichorn

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It is going to be an early bedtime for me. But on jobs.
Jobs are created when there is work to be done. Tax breaks for small businesses and tax reductions for the rich in the expectation that jobs will be created is an absolute fantasy, in my opinion, unless there is something for the workers to do.
As I wade through the employment numbers, I still see things in the data that suggests we are not going to see increases in employment (average work week, for example, of people who do have jobs - 33 hours, I believe).
Look at the long article you posted above. Near the end is the comment that CA is on target for eliminating 5,500 jobs. That is good, right? Right? Waste, right? Eliminating government jobs is good, right? But private employers are finding they can also do more with less.
The Obama admin is keeping the dollar low to spur exports while discouraging imports in an effort to stimulate domestic employment. That policy has contributed to higher oil prices and may not be sustainable.
Conclusion: I am not sure that we will ever get back to an unemployment rate of 4 or 5%. I think that the new norm will be more like 8% at lower wages.
My back is hurting, Cyclo, and I am more then a bit grumpy tonight. My dog has headed off to another room to do her dreaming about chasing rabbits. She doesn't want to be around me, I guess. Smart dog. Not as good as Ching the Wonder Dog, but reasonably smart.
Tomorrow is another day.

1 Reply

@realjohnboy,

realjohnboy wrote:

Conclusion: I am not sure that we will ever get back to an unemployment rate of 4 or 5%. I think that the new norm will be more like 8% at lower wages.

If you are correct, Obama will not be elected to a second term
and that would be a good thing for America and the world.

1 Reply

@H2O MAN,

H2O MAN wrote:

realjohnboy wrote:

Conclusion: I am not sure that we will ever get back to an unemployment rate of 4 or 5%. I think that the new norm will be more like 8% at lower wages.

If you are correct, Obama will not be elected to a second term
and that would be a good thing for America and the world.

We could get back to 4 or 5% unemployment with decent leadership that believed in capitalism and the American people. We also need radical tax reform, big time, which is part of believing in capitalism and the American people.

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As this relates to the economy, perhaps at least we should not have to worry about the importation of watermelons from China, at least not after people read about this? But then again, I forgot, cyclops probably will not believe this because it is reported by Fox News.
http://www.foxnews.com/world/2011/05/17/chinas-exploding-watermelons-caused-chemical/?test=latestnews
Watermelons have been bursting by the score in eastern China after farmers gave them overdoses of growth chemicals during wet weather, creating what state media called fields of "land mines."

1 Reply

Did you catch the new housing starts numbers today for (I think) April. They were bad.

1 Reply

@realjohnboy,

realjohnboy wrote:

Did you catch the new housing starts numbers today for (I think) April. They were bad.

Is this surprising? We have far more homes on the market right now then can even be reasonably afforded by our citizenry, let alone some huge demand for new ones!

Cycloptichorn

2 Replies

@Cycloptichorn,

What caught my eye, and ear, Cyclo, was how dreadfully bad the numbers are. It may be a decade before things get back to any semblance of normalcy. I was reading a bunch of stuff about the economic impact of the housing industry's decline. I am not naive; I knew that it was big but I guess I never knew how big.

2 Replies

@realjohnboy,

realjohnboy wrote:

What caught my eye, and ear, Cyclo, was how dreadfully bad the numbers are. It may be a decade before things get back to any semblance of normalcy. I was reading a bunch of stuff about the economic impact of the housing industry's decline. I am not naive; I knew that it was big but I guess I never knew how big.

The problem is that under Bush and the housing boom, the only industry that really grew was construction and housing. Most of the jobs created after 9/11 were construction and housing jobs, and low-paying jobs in the service sector; and when the market tanked, those jobs dried right up and the fact is that they aren't coming back.

This sort of squares with the conversation we were having yesterday - I just don't see how we can be doing anything else now other than focusing on getting our jobs situation improved. No matter WHAT else we do, unless we get our jobs numbers up, the economy is still going to drag.

My solutions are, predictably, left-wing ones; they focus on forcing the banks and investment houses (Goldman) to serve the country's needs, instead of their own. I think the other drag on our economy is the fact that there has been no punishment for anyone involved in the crash, no accounting for the banks whatsoever, and no return to safer business practices by them.

Cycloptichorn

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Obamanomics has killed over 1 million private sector jobs
and Obamacare is poised to kill another million jobs.

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@okie,

Quote:

Watermelons have been bursting by the score in eastern China

That sounded so bizarre I had to look it up! I found a bunch of youtube videos showing the exploded melons, but they didn't look gigantic or anything.

Revenge of the giant watermelons!!! Exclamation

1 Reply

@realjohnboy,

Quote:

It may be a decade before things get back to any semblance of normalcy.

The New York Times put it at about 15 years.

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@Cycloptichorn,

I just voted you up. This old and outmoded idea of basing the economy on housing starts is ridiculous.

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@Irishk,

That just shows how ridiculous agribusiness is.

1 Reply

@plainoldme,

One farmer lamented that he went to his field and counted 50 exploded melons, then in the afternoon he counted 80. He said after that he didn't bother to count anymore. I felt sympathy, even though I think China's economy is state-run, so he should be ok.

1 Reply

@Irishk,

I haven't come close to figuring out China's relationship to farms and businesses, but I'm pretty sure you are allowed to fail, except maybe in the case of actual state owned activities. I would be interested in finding out.

1 Reply

Where is the US economy headed?

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