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boggsman1



Joined: 24 Jun 2002
Posts: 3753
Location: at a computer

PostPosted: Mon Dec 13, 2010 12:09 pm    Post subject: Reply with quote

isobars wrote:
mat-ty wrote:
I do apologize to you Dan, even if we disagree, you are always respectful.


If so, he has changed since I killfiled him. Glad to hear it.

Thats funny, on a Monday. Dan, you've arrived! Seal of approval from ISO.
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mrgybe



Joined: 01 Jul 2008
Posts: 2895

PostPosted: Mon Dec 13, 2010 12:11 pm    Post subject: Reply with quote

For those who are having difficulty accepting that the nearly two year old (February 2009), $787BN Stimulus package has had limited success:

"Official" Unemployment (Bureau of Labor Statistics)

February 2009 - 8.1%

December 2010 - 9.8%

"Real" Unemployment

January 2009 - 15.4%

December 2010 - 19% (estimate; actual August 2010 rate 18.6%)

http://www.unionofunemployed.com/files/2010/09/1207_0810_USEffectiveUnemploy2.pdf

Time to try something new perhaps?
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boggsman1



Joined: 24 Jun 2002
Posts: 3753
Location: at a computer

PostPosted: Mon Dec 13, 2010 12:20 pm    Post subject: Reply with quote

Maybe, with all due respect, the USA lost 700,000 jobs a month through May 2009, so the effects of the stimulus would not have generated net job growth IMO. I know the prez said it would lower unemployment to 8% by the summer, but that was a boneheaded comment without the benefit of reality . Look, the USA was in a $2Trillion hole, an outpout gap of 2T, thats a lot of dough! You stick $787b in the hole, and poof , it gets sucked up, instantly. The multiplier effect does not work when productivity is at an all time high and the economy is gradually shrinking, so, dont expect unemployment to drop for at least 3 or 4 years. Berspanky said as much last Sunday on 60 minutes. How bout that boozehead last night on 60 minutes, what a peach!
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mat-ty



Joined: 07 Jul 2007
Posts: 1092

PostPosted: Mon Dec 13, 2010 12:24 pm    Post subject: Reply with quote

boggsman
did you see my boy Tommy yesterday, is he the man or what?
I am hoping the 9ers, beat the snort out of the pesky chargers!!
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boggsman1



Joined: 24 Jun 2002
Posts: 3753
Location: at a computer

PostPosted: Mon Dec 13, 2010 12:28 pm    Post subject: Reply with quote

Brady is a stud, the bestand the Patriots are clicking, to say the least.
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mac



Joined: 07 Mar 1999
Posts: 5575

PostPosted: Mon Dec 13, 2010 3:22 pm    Post subject: Reply with quote

Does it surprise me that mrgybe (iso-lite) would cherry pick unemployment data to conclude that the stimulus didn't restore the economy? Not at all. Let's see, there's still billions in tax cuts working in the economy, businesses are holding on to trillions in cash because consumers aren't buying, but its all Obama's fault, innit. The stimulus was tiny compared to the whole. Reich, Clinton's secretary of labor, describes it as saving 3 million jobs. But with a 12 trillion loss in personal wealth, the housing construction economy revealed as a house of cards, and Republicans fighting a more meaningful stimulus, mrgybe now knows it was a failure. Cherry picks statistics, using weak correlation to infer causation. It's like blaming the current state of the economy on the opposition of the Republicans to extending unemployment assistance. That would be just as partisan, and just as wrong.

Repeat after me, securitization and housing bubble, loss of 12 trillion, collapse of construction industry, buildup of housing inventory in default. The author of this mess? Phil Graham. Those who don't understand history are doomed to repeat it.
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