Liberals: The era of Reaganomics is finally over

[Little-Acorn]

Unfortunately, they are correct.

According to the Federal Government's Bureau of Labor Statistics, the "Labor Force Participation Rate" (The percentage of the population age 16 or over, who is employed or looking for work) has fallen to levels not seen since the Jimmy Carter years - the time when the "Misery Index" was invented to describe how bad things were.

The "Unemployment Rate" is the percentage of people who are unemployed but still looking for work. IN other words, In other words, the percentage who are unemployed but still in the labor force.

If the number of people in the labor force declines, that means they are unemployed but NOT looking for work any more.

More people have been driven out of the labor force, giving up looking for work, than any any time in more than 30 years, undoing everything Reagan managed to do.

Part of Obama's legacy. And not a "small" part.

.

 

[grunt11b]

Which is why the economy is in the tank.

 

[Two Thumbs]

took 30 years to break it.

I'd like to think it wasn't on purpose...

 

[Little-Acorn]

BTW, for those who thought participation was declining because lots of Baby Boomers were retiring...

Sorry. It's not so. People aged 55 and older have been INCREASING their participation in the labor force, not retiring from it.

It's the young and middle-aged who have been losing their jobs and finding they couldn't get another. Or getting out of school and finding there is nothing there for them. They get listed as "unemployed" for a while... but eventually they just give up and quit looking.

Obama's legacy will live for a long time... at least with these people.

 

[Bombur]

Your second graph doesn't really say what you think it says.

Demographics drive your first graph. Although there is no denying that the economy is bad and the labor market is in bad shape.

Reaganomics is often attacked by the left and praised by the right. I wonder if they all know he was using Keynesian principles.

 

[bendog]

It's outrageous that a lesser % of kids 24 and younger aren't in the workforce.

The economy sucks though. It is the death of reagonomics, he got that right. The chinese aren't buying financial deregulation.

 

[g5000]

Part of Obama's legacy. And not a "small" part.

Part of the Bush-Obama legacy, you partisan dimwit. Did you not notice when the labor force participation rate started tanking? Are your blinders tightened down to slits or something?

Other than that, I agree the tanking of the labor force participation rate is a total disaster.

 

[racewright]

It is going to be a lot more difficult to break the economic realities of today.
The people not the rich are not willing to share--they want to get there not deserved pay and pensions and say fuck you to all others I got mine.

There con jobs cause taxes to rise and then they retire and move to somewhere that the tax structure is lower---then convince all others that its the rich greed that is keeping you from prospering. When the new voters realize this and start to not allow these over paid careers to continue will prosperity be.

 

[bendog]

Part of Obama's legacy. And not a "small" part.

Part of the Bush-Obama legacy, you partisan dimwit. Did you not notice when the labor force participation rate started tanking? Are your blinders tightened down to slits or something?

Other than that, I agree the tanking of the labor force participation rate is a total disaster.

It's a disaster for the kids who came out of college 2007 and probably 2016 .... which makes it awfully close to my daughter. However, the graph fails to capture their dellima which is under employment .... and school debt.

The increasing participation for oldsters was/is at least in part not tied to the meltdown, and more so to the stock market failures of the late 90s, and a decade of no growth ... outside the top %. And it drives income inequality as those who have the most physical labor must drop out faster.

Whether things improve for kids as the US becomes energy independent, and domestic manufaturing becomes more attractive do to lower energy costs for the econ as a whole and a dollar that should have less value internationally, is the question we have bet the ranch upon.

 

[francoHFW]

The era of Reaganomics ruining the nonrich and the country won't be over until the rich pay their fair share and we invest in the country. 4/5 pay 21 per cent, the poorest fifth 16 in all taxes and fees, corporations 10 per cent of the total now, 35 in the fifties...

Voodoo wrecked and IS WRECKING the nonrich to the point where demand for products and services has dried up, along with their savings...before the corruption and cronyism housing and credit meltdown of 2008- while the rich have quadrupled their wealth...

Memorize the facts, hater dupes:

1. WORKERS past 63 years worker productivity has grown by 2.0% per year.But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):1950 = 101%1960 = 105%1970 = 105%1980 = 105% – Reagan1990 = 100%2000 = 96%2007 = 92%A 13% drop since 1980A 13% drop since 1980

2. THE TOP 10% GET A LARGER SHARE.Share of National Income going to Top 10%:1950 = 35%1960 = 34%1970 = 34%1980 = 34% – Reagan1990 = 40%2000 = 47%2007 = 50% TO MAKE UP FOR THE LOSS.Household Debt as percentage of GDP:1965 = 46%1970 = 45%1980 = 50% – Reagan1990 = 61%2000 = 69%2007 = 95% An increase of 16% since Reagan.

3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.The savings Rose up to Reagan and fell during and after.1950 = 6.0%1960 = 7.0%1970 = 8.5%1980 = 10.0% – Reagan1982 = 11.2% – Peak1990 = 7.0%2000 = 2.0%2006 = -1.1% (Negative = withdrawing from savings)

4. Household Debt as percentage of GDP:1965 = 46%1970 = 45%1980 = 50% – Reagan1990 = 61%2000 = 69%2007 = 95%A 45% increase after 1980.

5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.Gap Between the Share of Capital Income earned by the top 1%and the bottom 80%:1980 = 10%2003 = 56%A 5.6 times increase.

6. AND THE AMERICAN DREAM IS GONE.The Probabilityy of Moving Up from the Bottom 40% to the Top 40%:1945 = 12%1958 = 6%1990 = 3%2000 = 2%A 10% Decrease.

Links:1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt1 = https://www.clevelandfed.org/Researc...s/No7Nov04.pdf1 = Clipboard01.jpg (image)2 – Congratulations to Emmanuel Saez | The White House3 = http://www.demos.org/inequality/imag...ving_thumb.gif3 = http://www.bea.gov/national/nipaweb/...&LastYear=20104 = http://www.prudentbear.com/index.php...or-debt-of-gdp4 = FRB: Z.1 Release--Financial Accounts of the United States--June 6, 20135/6 = Wealth And Inequality In America - Business Insider

Copyright. Link Each "Copy & Paste" to It's Source. Only paste a small to medium section of the material. http://factleft.com/2011/03/28/the-demise-of-the-american-middle-class-in-numbers/

 

[francoHFW]

Maybe Pubs should stop blocking EVERYTHING - since 2/2010- and allow a jobs/infrastructure act- and stop filling the dupes with BS and hate...

 

[RKMBrown]

How can a methodology be dead? Nah... the issue is that when you encourage, even pay people to stay out of the job market... they do.

 

[francoHFW]

It's called taking care of the victims of Bushies wrecking the world, and the TP MORONS blocking any help for the economy, which was ruined by Reaganomics 1981-2009- and still is...Pub dupes lol...

 

[bendog]

Well, I suspect the era of the US forcing foreign countries to not interfer with out ability to freely trade with those who wish to trade with us is over. Or at least we will not be able to act unilaterally. Of course china's all for trade and Western Europe has allowed Putin to run roughshod over the former iron curtain with the price of heating.

 

[Kosh]

The era of Reaganomics ruining the nonrich and the country won't be over until the rich pay their fair share and we invest in the country. 4/5 pay 21 per cent, the poorest fifth 16 in all taxes and fees, corporations 10 per cent of the total now, 35 in the fifties...

Voodoo wrecked and IS WRECKING the nonrich to the point where demand for products and services has dried up, along with their savings...before the corruption and cronyism housing and credit meltdown of 2008- while the rich have quadrupled their wealth...

Memorize the facts, hater dupes:

1. WORKERS past 63 years worker productivity has grown by 2.0% per year.But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):1950 = 101%1960 = 105%1970 = 105%1980 = 105% – Reagan1990 = 100%2000 = 96%2007 = 92%A 13% drop since 1980A 13% drop since 1980

2. THE TOP 10% GET A LARGER SHARE.Share of National Income going to Top 10%:1950 = 35%1960 = 34%1970 = 34%1980 = 34% – Reagan1990 = 40%2000 = 47%2007 = 50% TO MAKE UP FOR THE LOSS.Household Debt as percentage of GDP:1965 = 46%1970 = 45%1980 = 50% – Reagan1990 = 61%2000 = 69%2007 = 95% An increase of 16% since Reagan.

3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.The savings Rose up to Reagan and fell during and after.1950 = 6.0%1960 = 7.0%1970 = 8.5%1980 = 10.0% – Reagan1982 = 11.2% – Peak1990 = 7.0%2000 = 2.0%2006 = -1.1% (Negative = withdrawing from savings)

4. Household Debt as percentage of GDP:1965 = 46%1970 = 45%1980 = 50% – Reagan1990 = 61%2000 = 69%2007 = 95%A 45% increase after 1980.

5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.Gap Between the Share of Capital Income earned by the top 1%and the bottom 80%:1980 = 10%2003 = 56%A 5.6 times increase.

6. AND THE AMERICAN DREAM IS GONE.The Probabilityy of Moving Up from the Bottom 40% to the Top 40%:1945 = 12%1958 = 6%1990 = 3%2000 = 2%A 10% Decrease.

Links:1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt1 = https://www.clevelandfed.org/Researc...s/No7Nov04.pdf1 = Clipboard01.jpg (image)2 – Congratulations to Emmanuel Saez | The White House3 = http://www.demos.org/inequality/imag...ving_thumb.gif3 = http://www.bea.gov/national/nipaweb/...&LastYear=20104 = http://www.prudentbear.com/index.php...or-debt-of-gdp4 = FRB: Z.1 Release--Financial Accounts of the United States--June 6, 20135/6 = Wealth And Inequality In America - Business Insider

Still posting this without giving credit to the far left site you ripped it off from?

The Demise of the American Middle Class In Numbers. | Fact Left

 

[Rozman]

We now have Obamanomics....

God help us all...

 

[Missouri_Mike]

We now have Obamanomics....

God help us all...

The Carter Malaise has made a spiffy come back.

 

[AVG-JOE]

Liberals: The era of Reaganomics is finally over

Damn.

Based on the title, I was ass-u-me-ing that the republicans were finally figuring out that George Bush Sr. was right when he called the Trickle-Down bullshit promoted by Regan "Voodoo Economics".

*sigh*​

Carry on.

 

[Interpol]

No, we still live under the wrongheaded Reaganomics policies.

When taxable income over a million is at 50%, the minimum wage at $15, and the defense budget and other corporate welfare are lowered another $200-250 billion a year THEN Reaganomics will be over.

When Reaganomics is finally over, we'll head way over into surplus again, we'll be taking care of our people, building our country, and creating the jobs of the future.

Our economic theory still hands everything over to the 1% with the hopes they'll invest in all of us. It's been 33 years now and they never did.

 

[DennyO]

Does this mean America won't be seeing the Gipper's face chiselled into Mount Rushmore?