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Nouriel Roubini: The worst is yet to come.

Discussion in 'Political Discussion' started by Real World, Nov 18, 2009.

  1. Real World

    Real World Moderator Staff Member

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    I sure hope he's wrong.

    The worst is yet to come: Unemployed Americans should hunker down for more job losses

    BY Nouriel Roubini

    Sunday, November 15th 2009, 4:00 AM

    Conditions in the U.S. labor markets are awful and worsening. While the official unemployment rate is already 10.2% and another 200,000 jobs were lost in October, when you include discouraged workers and partially employed workers the figure is a whopping 17.5%.

    While losing 200,000 jobs per month is better than the 700,000 jobs lost in January, current job losses still average more than the per month rate of 150,000 during the last recession.

    Also, remember: The last recession ended in November 2001, but job losses continued for more than a year and half until June of 2003; ditto for the 1990-91 recession.

    So we can expect that job losses will continue until the end of 2010 at the earliest. In other words, if you are unemployed and looking for work and just waiting for the economy to turn the corner, you had better hunker down. All the economic numbers suggest this will take a while. The jobs just are not coming back.



    The worst is yet to come: Unemployed Americans should hunker down for more job losses
  2. Harry Boy

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

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    Change We Can Believe In
  3. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Obama alluede to the possibility of a double dip recession watch out.
  4. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Because of deficits, LMAO.

    That's like me saying I don't get enough sleep because I set my alarm too early. Wake up, obama, you are the one massively expanding the deficit.
  5. JackBauer

    JackBauer On the Roster

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    http://www.nytimes.com/2009/06/10/business/economy/10leonhardt.html?_r=1

    Why don't you take a little time to educate yourself, instead of spouting off on topics you clearly know nothing about.
  6. Wolfpack

    Wolfpack Banned

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    LOL! Obama lecturing people about the evils of deficits is like Paris Hilton lecturing people about the evils of promiscuity. Only I think Paris Hilton is quite a bit more intelligent than Obama, so perhaps that is an unfair comparison.
  7. Harry Boy

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

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    Stop The War
    Close Gitmo
    Sarandon, Whoopi, Penn, Murtha where are you???

    Jesus Christ stop the killing, we want peace.

    GET BUSH--GET PALIN--GET TEA BAGGERS-- OH GOD
  8. ljuneau

    ljuneau Rookie

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    So true, BF! The Obama, the man who's dwarfed Bush's deficits, is now warning the job losses will continue because of deficits. So his stimulus, which was suppose to keep unemployment under 8%, has actually contributed to the increase in the deficit and unemployment.
  9. JackBauer

    JackBauer On the Roster

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    Again, I suggest you read, and educate yourself, because once again what you say isn't true.

    I guess this is kind of like saying the surge worked, and then being unable to define what the goals of the surge were.

    Must be nice constructing your own reality.
  10. JackBauer

    JackBauer On the Roster

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    Yeah, I hear they let any ole' rube be Editor of the Harvard Law Review.

    LOL!!!
  11. ljuneau

    ljuneau Rookie

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    And the kicker, as Obama is, all of a sudden, worried about the deficit, congress is now pushing for a "jobs" (aka another stimulus) bill.

    House Leaders Push for Jobs Bill

    The Dems are digging the hole deeper and deeper.
    Last edited: Nov 18, 2009
  12. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Do you get your talking pts directly from the DNC or do you get them second hand? :D
  13. JackBauer

    JackBauer On the Roster

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    That's... uhh... rich, coming from you. Considering that you're one of the biggest apologists on this forum.
  14. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Apologist for what? I criticize pubbies all the time. BTW shall we accept Obama's numbers that without his bloated stimulus bill the Bush unemployment would peak at 8.8%, a lot of workers wish he had done nothing if that is the case.

    10.2% and rising.
  15. JackBauer

    JackBauer On the Roster

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    Oh, yes, all the time.

    'wingers like to make this argument about the stimulus around here. I realize it's tempting to blame Obama for everything he does. Here's Niall Ferguson before the stimulus was even passed:

    While you can feel free to criticize Obama for being overly optimistic about unemployment, to use the current rate as an indictment of the stimulus seems difficult to prove, and could just as easily be argued in the other direction.
    Last edited: Nov 18, 2009
  16. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I never claimed Bush wasn't a big spender nor bad for the deficit. That's why I didn't vote for him in 2004. But obama has accelerated the process like nothing we've seen before and that's without him even passing his big bills yet.
  17. JackBauer

    JackBauer On the Roster

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    LOL.

    Like nothing we've seen before? You clearly did not read the article. We saw something worse one administration prior. I'm going to assume you're just being partisan and not suffering from Alzheimers.

    Which of these big bad scary bills of Obama's could you be referring to, I wonder?
    Last edited: Nov 18, 2009
  18. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Actually, cap & tax scares me more than obamacare.
  19. ljuneau

    ljuneau Rookie

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    I agree, Bush was not a fiscal concervative.

    Federal deficit triples from year ago

    The facts are so close to JB's face, he can't see them.
  20. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Bush was the flu when it came to spending Obama is the Ebola virus.

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