I always thought the econobrainz considered 4% unemployment to be "full employment," because people changing jobs, taking breaks, and other reasons. Is that idea passé now?
Spot on the noon local news predicting record-breaking holiday spending. Can't wait to see how the GQP tries to spin that, considering "But the economy FEELS bad" is the only argument they have left--
Remember back post 2008 crash that real economists were arguing that the multiplier for federal spending was 1.5, that every dollar of fed spending generated $1.50 in economic activity? And all the RWSU (reich wing suck up) economists (sorry if any of you object to the characterization, but you were so very wrong) said nononono fed borrowing to spend that money soaked up funds that private entities could spend better? Yeah, OHJB''s policies are providing steady, normal growth. RWSU policies (Yeah, they were set in place under Obama) kept GDP under the average for the next 8-10 years. Contractionary policies are contractionary. Rethugs do not care, though.
What they seem to ignore is that the government does not build roads, lay fiber optic cable, dredge harbors or actually run operations to build infrastructure. They pay private companies to do that. Most states have their own work crews for minor road repairs and maintenance and the Coast Guard watches for marine hazards. But when a bridge falls down they hire a private contractor to rebuild it. States and the feds usually do a good job in basic planning and overseeing the work of private companies.
So other than some maintenance work and employee salaries and benefits most "government spending" dollars go into the pockets of corporations or private citizens.
And runs around local economies a couple of times before the suits latch on to it. Local diners and dive bars are very happy when construction crews take on a longish term project.
Don't know how any were added, what with a stalled government, useless speaker who wants to create theater impeaching a Democratic president because he is actually presidential, unlike the previous fucking shitstain. And criminal Republicans gumming up the works!
Meanwhile my husband’s industry can’t find qualified engineers for love or very good money. He’s working 60+ hours a week to keep equipment up and running. Traveling everywhere. And getting burned out.
Gonna be a reckoning that people are not going to like in the medical care industry.
Last week, there was an article in my news feed from one of those cut & paste business news sites that seem to get their material from PR releases.
They were reporting on massive job losses in the Phoenix area. It's seems a company closed down a location here and 100 people were cut loose. That was the breaking news.
These massive job losses have the 4.5 million people in Maricopa County just reeling. Or not.
I'm also reading g multiple articles by people convinced the Electric Vehicle industry is cratering because the cars are not delivering miles per charge beyond the numbers the manufacturers publish, and going on 3,000 mile road trips is damn inconvenient.
So, is it true that in the 70s as an answer to inflation or stagflagion (hubba-hubba) we stopped adjusting the economy towards full employment and instead worked it for low inflation, which means we've long had a segment of the population that didn't work, and we treated them like shit because they didn't work, even though they were saving the bacon of the country as a whole? 'Cause that's a little fucked.
Interesting how the Stock market is rallying now that the jobs report was lower than expected. Before, when the jobs report was better than expected investors were nervous.
It’s almost like they are betting against worker interests.
If things are starting to slow down, then it is unlikely that the Fed will raise interest rates. That means the stock market remains the preferred "investment" compared to Treasury Bonds, which drives stock prices up.
Ta, Dok. One of my coworkers left so there's another opening at my network. Of course, the work is hard and the pay is low, but we do have a union.
i need a job!
I always thought the econobrainz considered 4% unemployment to be "full employment," because people changing jobs, taking breaks, and other reasons. Is that idea passé now?
Only when Democrats are in charge.
Spot on the noon local news predicting record-breaking holiday spending. Can't wait to see how the GQP tries to spin that, considering "But the economy FEELS bad" is the only argument they have left--
Got my doom bunker ready because bad jobs market and terrible inflation! No you can't have any MRE so don't ask!
Remember back post 2008 crash that real economists were arguing that the multiplier for federal spending was 1.5, that every dollar of fed spending generated $1.50 in economic activity? And all the RWSU (reich wing suck up) economists (sorry if any of you object to the characterization, but you were so very wrong) said nononono fed borrowing to spend that money soaked up funds that private entities could spend better? Yeah, OHJB''s policies are providing steady, normal growth. RWSU policies (Yeah, they were set in place under Obama) kept GDP under the average for the next 8-10 years. Contractionary policies are contractionary. Rethugs do not care, though.
What they seem to ignore is that the government does not build roads, lay fiber optic cable, dredge harbors or actually run operations to build infrastructure. They pay private companies to do that. Most states have their own work crews for minor road repairs and maintenance and the Coast Guard watches for marine hazards. But when a bridge falls down they hire a private contractor to rebuild it. States and the feds usually do a good job in basic planning and overseeing the work of private companies.
So other than some maintenance work and employee salaries and benefits most "government spending" dollars go into the pockets of corporations or private citizens.
And runs around local economies a couple of times before the suits latch on to it. Local diners and dive bars are very happy when construction crews take on a longish term project.
As the saying goes, Economists have correctly predicted 9 of the last 5 recessions.
My favorite recent Times headline on the economy: "Are Higher Rates Slowing the Economy? A Zoo Offers Clues"
ZOO CLUES 🦓🔍
Don't know how any were added, what with a stalled government, useless speaker who wants to create theater impeaching a Democratic president because he is actually presidential, unlike the previous fucking shitstain. And criminal Republicans gumming up the works!
Nov. 3 2024 can't get here soon enough!
Unless the orange turd wins. Then we're all in deep doodoo
So. When there was a good jobs report the media explained how this was bad.
Now that the jobs report is not as good as expected (bad) with they explain how this is good?
Nope, everything is always bad if the president is a Democrat.
So should I keep the money in coffee cans buried behind the garage or buy gold?
Depends.
How acidic is your soil?
Works for Speaker Johnson, apparently.
Both! In fact, I'm such a nice person I'll help you bury it [quickly hides pirate hat behind back].
Buy gold, it's heavy enough it can also be used as a weapon.
Silver! You can also use it to make bullets, for all the werewolves.
No wonder I won't drink Goldschlager...
Welll...after you use it as a weapon...I mean....waste not want not....
Now that Sam Bankman-Freed is out of the picture.
Maybe I will, maybe I wont...
Any second now.....
But think about how lousy this job report would be if you didn't factor in all the lawyers that Defendant Trump has to hire.
Related question: does disbarred also mean unemployed.
You can still flip burgers, Rudy!
Meanwhile my husband’s industry can’t find qualified engineers for love or very good money. He’s working 60+ hours a week to keep equipment up and running. Traveling everywhere. And getting burned out.
Gonna be a reckoning that people are not going to like in the medical care industry.
In many facets of the medical care industry.
Or when people start retiring.
Oh fear not, The Masters of the Universe (or rather their spokespuppets) are on that!
(FTFNYT gift link)
https://www.nytimes.com/2023/10/26/opinion/social-security-medicare-aging.html?unlocked_article_code=1.7kw.oRg5.nCGQ8hXX-Vo5&smid=url-share
Last week, there was an article in my news feed from one of those cut & paste business news sites that seem to get their material from PR releases.
They were reporting on massive job losses in the Phoenix area. It's seems a company closed down a location here and 100 people were cut loose. That was the breaking news.
These massive job losses have the 4.5 million people in Maricopa County just reeling. Or not.
I'm also reading g multiple articles by people convinced the Electric Vehicle industry is cratering because the cars are not delivering miles per charge beyond the numbers the manufacturers publish, and going on 3,000 mile road trips is damn inconvenient.
But that is for another day of doom and gloom.
Notice how that electric vehicle naysaying corresponded with the UAW strike.
Conservatives spewing FUD, Fear, Uncertainty, Doubt.
So, is it true that in the 70s as an answer to inflation or stagflagion (hubba-hubba) we stopped adjusting the economy towards full employment and instead worked it for low inflation, which means we've long had a segment of the population that didn't work, and we treated them like shit because they didn't work, even though they were saving the bacon of the country as a whole? 'Cause that's a little fucked.
Goal of the Fed is BOTH low unemployment and low inflation.
Please check your figures, because the Fed only actually does anything about inflation. Really, go back and look.
The reserve army of the unemployed, as one of them Marx Brothers said.
*in solemn voice*
It's the American way.
Not to be A Art Critic, but the page on the computer screen looks like the HW that the dog ate.
There is something viscerally disturbing about the mousey computer mouse's expression.
Interesting how the Stock market is rallying now that the jobs report was lower than expected. Before, when the jobs report was better than expected investors were nervous.
It’s almost like they are betting against worker interests.
I thought the news that Powell wasn't raising rates this week caused the rally.
If things are starting to slow down, then it is unlikely that the Fed will raise interest rates. That means the stock market remains the preferred "investment" compared to Treasury Bonds, which drives stock prices up.