Unemployment ticks up to 9.1%

Discussion in 'Economy' started by FuelRod, Jun 3, 2011.

  1. FuelRod
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    FuelRod Gold Member

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  2. pinqy
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    pinqy Gold Member

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  3. FuelRod
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    FuelRod Gold Member

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    So do you just want to concede the 2012 election now or wait until the new year?
     
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  4. pinqy
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    pinqy Gold Member

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    Why would I concede to the Democrats? Granted the Republicans aren't looking great, but Obama's policies haven't worked out that well.

    In any case, the labor market is improving...just very slowly and not well. No idea whose favor that will work out to politically by next year, and I certainly don't want continued poor economic news just to get rid of Obama.
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    This is so expected to those of us who understand economics.
     
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  6. uscitizen
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    uscitizen Senior Member

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    Understanding the new economics of world trade is the key. Many of the old rules are no longer valid.

    And I predicted it would turn out this way when the experts were just predicting a 6 months downturn.
    Get used to living with less folks.
     
  7. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    I agree. We are seeing a permanent change in the economic landscape.

    I read an interesting piece by Walter Read yesterday (part I of a series), that is germane for this thread. A bit long, but great food for thought.

    The Death of the American Dream I

    (snip)

    American housing policy has reached a dead end. We can no longer stimulate the economy successfully by encouraging more and more people to assume higher levels of debt. Decades of public policy aimed at subsidizing home ownership created conditions that spewed toxic mortgages into the financial markets, costing taxpayers hundreds of billions in bailouts and trillions more in lost wealth and lost jobs in the economic downturn, and created a ruinous housing bubble.

    It was not, by any means, a complete flop. Tens of millions of American families enjoyed the benefits of living in a home of their own. Prudent borrowers who bought only the house they needed and fought off the temptation to use their home equity to finance their lifestyles have mostly not done too badly. Many homeowners can and will hang on until the inevitable market correction pares their losses to a manageable level. Those lucky or far sighted enough to buy at the right time are still sitting on sizable profits.

    But something has, I think, changed. Something big. Humpty Dumpty has fallen off the wall. A social ideal has received an irrecoverable blow and the era of consuming our way to prosperity is drawing to a close. The country has maxed out its credit cards, and we are going to have to live within our means.

    This isn’t the first time the American Dream has died. The old dream — your own farm rather than your own home — once dominated American culture, politics and family life as much as the family home ever did. The slow and painful death of that dream was one of the country’s core preoccupations in the first half of the twentieth century. The death of the new dream is likely to be a big deal as well.

    The ideal of the family farm was once even more deeply rooted in American life than the ideal of the owner-occupied home. In the 18th and 19th centuries, the average American family owned and farmed a small piece of land. Cheap land on the frontier made the original American dream accessible to just about anybody. New immigrants and young people would work for a few years to save up money for basic tools and equipment, head west and start up a farm....



    The Death of the American Dream I | Via Meadia
     
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  8. spectrumc01
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    spectrumc01 I give you....the TRUTH

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  9. xsited1
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    xsited1 Agent P

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  10. Mr Clean
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    Mr Clean Gold Member

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    Given the size of our population and the number of jobs that can be done by cheap overseas labor, 9-10percent unemployment is the new norm for the 21st century.

    As uscitizen said above, get used to living with less.
     

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