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From $150K Executive job to $10/hr Janitor job

Discussion in 'Political Discussion' started by mikey, Feb 28, 2009.

  1. mikey

    mikey Rookie

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  2. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    I wonder how many stories there are like his. Those are the stories that unemployment statistics don't capture. I bet there are several million stories of substantial pay cuts.
  3. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    I work with the public, and one story I heard recently was about a woman who worked at a high value car agency as a manager... she logged into her computer, and the screen read employee terminated.. that is how she found out about getting laid off.

    This is only anecdotal, but I hear stories like this every day.. I also know a lot of contractors from all professions, and the general consensus is that the only people having work done right now are the top end of the strata. Most of the contractors are doing odd jobs.

    Every day there are stories about people who had good jobs and now have nothing, a teacher from Maine who had 12 years teaching was laid off, police and firemen in Fall River and New Bedford. I goes on and on, and is getting scary..
    Last edited: Mar 1, 2009
  4. PatriotsReign

    PatriotsReign On the Roster

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    The federal government's unemployment figures actually capture people like this. There are 6 levels of unemployment, one of which is refered to as the "official" unemployment rate. There is also what is called the "underemployed" and that is captured in one of the rates you typically don't see.

    When the gov't says the unemployment rate is 8.3%, it only includes people who aren't working and want to work. But the other versions include people who have given up looking and those who took jobs way below their level. This rate is now around 14% and if you can find it, it will say "Unemployment Rate (including discouraged workers and all marginally attached workers). It also includes people who take part time jobs when they're looking for full time work.

    During the recession of '80-'81 when the unemployment rate reached 11%, these workers were included. Now the gov't uses a different version of the definition that understates unemployment. If we used the same definition as we did back then, the unemployment rate is around 14%.
    Last edited: Mar 1, 2009
  5. mikey

    mikey Rookie

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    We are finally paying the price for electing George Bush twice (!).

    The last 8-year period is indeed the "lost decade".

    His invasion of the Iraq war sucked too much financial and economic resources, and extracted too much political cost. His adminstration single-minded focus on Iraq came at the detriment of other national and economic issues (Katrina, Wall Street ...)

    I am afraid George Bush may have inflicted permanent and irreversible damages on to our country. Many of those jobs are not coming back; they are going to Beijing and Mumbai creating "slumdog millionaires" in those countries.

    .
  6. ljuneau

    ljuneau Rookie

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    What a truly silly thread. We now have a president who has doubled the deficit in one month, and you're still blaming George Bush for the snow storm in New England this weekend. LOL

    In a year or two you're going to look back to now as the "good ole days". We now have a socialist president who's going to cause double digit unemployment, run-away inflation, and major business failure.

    Let us know when reality wakes you up.
  7. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    That's what you and Rush Limbaugh are hoping, but others, including some of the most prominent mainstream economists, are betting that deficit spending to stimulate the American economy will work, just as worked when Roosevelt, Reagan, and Bush deficit spent. In fact, right before Bush left, he quickly arranged deficit spend another $700 billion because he knew, as most economists know, that the United States economy needs a kick in is big butt in order to get moving again. But, keep your fingers crossed, you can always hope that Obama harms the United States. After all, why would political thinking that supports "helping" Iraqis but opposes helping Americans want the United States to succeed?
  8. ljuneau

    ljuneau Rookie

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    FDR and the Great Depression has been discussed here over and over. FDR's policies actually made the depression worse and prolonged it.

    Please, please read you history. Every time you say "...most prominent mainstream economists, are betting that deficit spending to stimulate the American economy will work, just as worked when Roosevelt..." it makes you sound ignorant. Can you please link us to some of these prominent economists, the ones not from the NYT?

    Reagan and Bush stimulated the economy by cutting taxes. Plain and simple.

    Here is a great article: Obama Puts the Economic Cart before the Horse

    Last edited: Mar 1, 2009
  9. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    When

    Gitmo...........Close
    Iraq.............Get Out

    Bullsh!t Artist Obama

    Gitmo will remain open

    The Iraq War will go on (new war will start in Darfur, Gen Looney Clooney will run it)

    If you think the country is screwed up after Bush just wait until you see what it looks like after Messiah gets through with it.
  10. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    FDR didn't spend enough in the 1930s, but in preparation for WWII we deficit spent at a record level (far greater as a percent of GDP than Obama is spending) and that got us out of the Depression. I'm not really sure where you're getting your evidence. The RNC?

    They created record deficits and also cut taxes, exactly what Obama's stimulus plan is doing.

    The article ignores the point that the stimulus plan is designed to get the engines of the economy running again. The belief is that if that happens, production will increase, profits will increase, and government revenue will increase. Why? Because that's what deficit spending has always done. And frankly, prior to Roosevelt, recessions were far more frequent events than after Roosevelt. If you think the global economy can be simplified to a butcher, baker, and candlestick maker, then I'd say economics is not your strong suit.
  11. ljuneau

    ljuneau Rookie

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    No, history books. So you're saying deficit spending is like fairy dust, just throw it around and magically the economy grows? That makes absolutely no sense. The demands of the war brought us out of the great depression.

    You talking about the extra $13 a week? Yea, huge tax cut. Of course once the tax increases on the rich and cap and trade are enacted, everything is going to cost more.

    And no the stimulus plan had very very little stimulus in it. You've got to stop with the "deficit spending is magic" stuff. Silly.

    The butcher, baker, and candlestick maker article was to make it simple so people like yourself who know very little about economics can understand it. Obviously, you still don't get it.
  12. TommyBrady12

    TommyBrady12 Rookie

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    #12 Jersey

  13. mikey

    mikey Rookie

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    If I remember correctly, the DOW was about 14,000 when Clinton left.

    I also believe the government had billions of dollars in surplus.

    I also recall kids coming out of college with multiple job offers.

    Were you living in America when Clinton was in office? :confused:

    .

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