58 share
Updated for "related" and chart on the labor force.
Good news: Unemployment rate fell 4/10 of a percent in the single 30 day period, 6.3% , down from 6.7% . . . . the lowest rate (by hook and crook) in 5.5 years. I say "by hook and crook" because the numbers used to justify today's report, are not the same as those used 5 years ago.
Like I wrote, by hook and crook, this is the lowest unemployment rate since 2008. A solid 288,000 jobs were created in April, the most since mid-2012, and, the March jobs report was revised upward by 36,000 [more] jobs, and this is very good news.
Unfortunately, all this good news is clouded by the following facts:
GDP for the 1Q of this year, came in at a nominal zero. The actual reported number was .1% which is "zero" growth, in my book. A penny on the dollar would be 1% growth. A 1/10 of a penny? Common folks . . . . . THAT is "zero" in the real world.
Of the 3 million jobs created in the past two years, we know that 2 million are low paying and minimum wage jobs while one million high paying jobs ($17.00 per hour and higher) have been lost.
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| Labor participation rate, i.e. "our workforce," is in its sharpest decline in half a century. Maybe we would be better off, if Obama stop trying to create jobs, no? |
down from 6.7) is, primarily, is due to a monumental drop in the labor participation rate, down from 63.2% to 62.8% as 800,000 Americans left the labor force and were not counted into any other employment/unemployment numbers. Fewer Americans, percentage wise, are working today, than were working in 1978, under Jimmy Carter, a 36 year low. 86 million folks are working full-time versus 146 million Americans who are drawing income from some sort of entitlement, including food stamps, Social Security, Medicare, unemployment benefits, housing and income subsidies.
Of course, H Obama will brag about the (U-3) unemployment rate but that is because he knows nothing about jobs creation and has no experience as to national finance, either educationally or in a practical since. What is disturbing about this last observation, is the fact that Obama, after 5 years, has learned nothing about the relationship between the horde of regulations and associated uncertainties versus to the need for planning and free choice within the business community.
The good news, in a final since of that term, is found in the reality that our private sector, capitalist economy, will find a way to succeed in spite of Central "Planning." Problematic to this fact, is the rate of success, which is effected by feckless, governmental meddling. At some point in time, that "rate of success" will no longer have the ability to "float all boats."
Trickle down economics is the way an economy works . . . . the only way. But, as long as we are lead by folks with no practical experience or training in economic matters, we will continue to see downward pressure on our quality of life. Like they say, "When everyone draws the same benefits or income, everyone is equally poor."
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Related:
An European view of the unemployment picture in the US: http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10805350/Shocking-US-jobs-data-impugns-recovery-Fed-tapering.html
"Trickle down economics is the way an economy works . . . . the only way."
ReplyDeleteUnbelievable.
1. Cutting the top tax rate does not lead to economic growth, income growth, hourly wage growth, or job creation. These are demonstrable facts. What is it here that you don't understand? 200-plus years of income and wealth data demonstrates that returns on capital (r) significantly outstrip growth in the real economy (g), which relentlessly drives up inequality. Economic growth happens when everyone shares in the fruits of our economy -- not just the top 1 percent.
2. In a free society, wealth doesn’t trickle down, or up, or sideways. It is earned.
3. It was tried in Europe for several years - the same "cut deficits at any cost, austerity for the poor and middle class" economics that is espoused daily by the Republican Party in the U.S, has swept the capitals of Europe. It has been a disaster. GDP in the Euro-area dropped in 2012 and continued to decline in 2013.
4. When the Republicans passed the Bush tax cuts in 2003, they promised massive economic growth. The notion that cutting taxes for the rich would "lift all boats" turned out to be sheer fantasy. The Bush years were the first period in modern American economic history to experience zero private sector job growth -- zero. The Republican commitment to allowing Wall Street bankers and speculators to run wild ultimately resulted in the September, 2008 financial meltdown.
These are the facts. A characteristic of conservatives - they tend to rely on ‘persistence’ in a ‘habitual response pattern,’ despite signals that this response pattern should change... (i.e. "stay the course"). That's why they will fail to evolve, progress... they can not change. Stuck in a time... by definition - regressive, obstinate, inflexible, uncreative, hide-bound, unimaginative, undaring, unprogressive, red-neck.
the reality...
ReplyDeletehttp://www.bushtoll.com/wp-content/uploads/2012/03/avg-annual-job-growth-by-president-2-2014.png
Here is how "trickle down" works: The rich and folks with innovative ideas, buy into the job market, create opportunity and jobs, pay ALL private sector salaries earned in this country, and, takes on incredible losses on his way to making a ton of money. But that is not the trickle down part.
ReplyDeleteHere is the trickle down part:
Those who work for THE MAN, you know, the guys who don't want to take risks, the folks who don't have sound money making ideas, the folks who would rather work for a "dependable income" rather than taking a chance that their ideas are crap, or demonstrate at some college campus or blow their minds with drugs, those folks. they benefit from the rich as e.m.p.l.o.y.e.e.s. THAT is “trickle down,” you moron. Tell me how you would change that.
You write: "In a free society, wealth doesn’t trickle down, or up, or sideways. It is earned."
Exactly. But "earning" wealth includes creating wealth via corporate concerns, innovative ideas and practices, investments, the creation of inventories, and taking risks none of the rest of us can afford to take.
Get rid of the rich, their companies, their ideas, their investments, their job creation abilities, and what do you have? NOTHING. That is what you have. Nothing.
But you think we can still live in tents and grow carrots in the backyard, somebody else's backyard, and play with ourselves. To quote one example after another of some offense or illustration of greed, is to avoid the argument. The fact remains, trickle down is how the common man and woman taps into the wealth of this nation, unless, of course, she works for the government and is paid by taxes stolen from the rest of hard working America.
i give you facts ... you give bs talking points.
ReplyDeletetrickle continues to hurt the common man, and the rich get richer.
leave no CEO behind
Do you think for one minute, any CEO cares about 'lifting all boats' among Americans when he can outsource to India or China to increase his bottom line? Are you freakin blind? Or just stupid?
ReplyDeletehttps://www.youtube.com/watch?v=rsL6mKxtOlQ
Like I said, Trickle down IS THE ONLY WAY folks participate in the economy and earn wealth. "Trickle down" is jobs, security and retirement funding. You offer nothing to the discussion because you have no answer to my question, and it is this (again): Take "Joe Blow" (named in honor of Biden). If Joe does not apply for work, qualify and enter the labor force supplied by the CEO or business owner, exactly how does he earn a living and who does he work for. Answer that question, you Marxist genius. You love to demonize the CEO, but you cannot earn a living without one. Prove me wrong, Slick.
ReplyDeleteBy the way, on a personal level, do you run a perennial deficit and what are the names of your friends you borrow from, if you do (run deficits month after month after month after month after . . . .)? Does your city government run deficits without ever balancing its budget? How about your local PTA? And the dog pound, does it never balance its budget? How about your local man-boy organization? When you went through your sex change, did they let you put it on credit and never finish paying for it? How about county government or state government?
ReplyDeleteHow about it, Slick.
No answer ????????????????????
Try this for a novel thought: THEY ALL HAVE TO BALANCE THEIR BUDGETS, at some point in time. So here is another question cannot answer: If all levels of government and business, whether "for profit" or not, have to balance their budgets, why not the federal government?
Here is thought, as an aside. If you get a sex change from the man your mother wanted you to be, to a "woman," and then sleep with a man, well, I guess that makes you heterosexual, right?
From your $50,000 per year salary:
ReplyDelete$247.75 per year for defense
$3.98 per year for FEMA
$22.88 per year for unemployment insurance
$36.82 per year for food stamps
$6.96 per year for welfare
$43.78 per year for retirement and disability for government workers, civilian and military
$235.81 per year for Medicare
$4,000 per year for corporate subsidies
$4000 in corporate subsidies so that CEOs can make the big $s and send jobs to China while people like Smithson perpetuate a trickle down myth.
It's a big $ club, and you aren't in it, but you keep pushing it.
The hypocrite Smithson puts a high priority on the federal government balancing the budget, (exactly what Clinton did), yet he deifies and worships Reagan who TRIPLED the National Debt.
ReplyDeleteSmithson, the embodiment of hypocrisy. nothing new here.
You write: "It's a big $ club, and you aren't in it, but you keep pushing it."
ReplyDeleteYour are absolutely correct on both counts. Like I said, "Trickle down is the only way" we share in wealth, unless either of us can come up with a really great, money making, idea. You are pissed at folks making more money than you. That is not a function of political savvy, it is a function pure jealousy. The fact of your quote, above, is this: you are a member of the same club, dude. So iof “trickle down” is not the only way to participate in our economy (other than welfare), what are you going to do differently, than I did, as a hard working stiff? ANSWER THE FREAKING QUESTION or admit that you have nothing to say except that which is ad hom.
I don't know where you did your cut and paste on that list of salary deducts, but here are a couple of facts: unemployment benefits remain at historic highs despite Obama's fantasy "recovery;" the food stamp population has doubled under Obama during his pretend recovery; "welfare" is food stamps, along with income subsidies, housing subsidies (section 8), retirement and disability for government workers, all salaries "earned" by government workers, the excesses paid out in Social Security (many of which are good things, btw, but welfare nonetheless) and Medicare is 42 TRILLION dollars in the hole, and half of your "corporate subsidies" are earned by the Green industry.
What you don't get is that under communism, my little Marxist pundit, you and I would make next to nothing while the political class made all the money; diddo for One World socialism. Why are all your Marxist political heroes millionaires or striving to become millionaires?
Hypocrisy abounds.
Nobody gets rich off subsidies . . . . . . nobody, and, it is just plain stupid to pretend that the CEO's of this nation are rich because of federal payouts. Some subsidies are completely unnecessary, to be sure. But milk subsidies, for example, keep our milk prices at historic lows, compared to the rest of the world. But your rules for saving the planet is the single most costly influence effecting Joe Average.
While you all are busy saving some damn fish, or flower, or tortoise, we have this food fact: A year ago, tri tip (its a cut of beef, my pot smoking friend) was sold at 2.80 a pound. Yesterday, my wife told me, it was selling for more than $8.00 a pound. When Obama took over as our Over Lord, gas was selling at $1.84 a gallon. Two days ago, I paid $4.42 a gallon and "regular" was selling at $4.09 per gallon.
When your Marxist side of the aisle counts inflation, it does not include food and fuel prices (transportation and residential), but brags about what a great job they are doing.
So food prices are going through the roof, but nobody in the Socialist camp cares; heating fuel prices will punish the poor in the Northeast, beginning this coming winter and nobody in the Socialist camp cares; transportation costs are skyrocketing, driving the real cost of living up and up, punishing the poor (again) and nobody in the Socialist camp cares. Oil profits run 3 to 4 percent of the bottom line while commie/pinko Green profits START at 10%. More than half of all CEO's are Progressives - they are your buddies, not mine, politically speaking - and they send as many jobs overseas as anyone, use the tax code to keep their taxes down and accept just as many subsidies, as socialist One Worlders, as the capitalist contingencies in Big Business. . . . . . (continued in the next response, below)
(continuing the above)
ReplyDeleteMy first job, going to college, paid me 80 cents an hour, in 1964. I make more than 20 times that amount in retirement, because this nation allowed me to get ready for retirement (and SS is a small part of that total, not a major part - and I paid for that, as well). ]
So, I have been there, with low wages. I qualified myself as a contractor WITH NO HELP from government and earned a good living in spite of federal meddling. And you want to change all that. How ignorant is that? !!
In the end, you can live your life pissed at having to work for The Man (per “trickle down”) or you can accept the glaring fact that YOU HAVE NO CHOICE. Like I keep telling you, trickle down is the only way anyone, in this world, makes money.