We also have, right now, a host of articles trying to claim the reason one cannot find a job is there is "something wrong with them". i.e. it's all that person's "fault".
Disgusting and what's wrong with them? Over 35?
This claim that one can just "make it on one's own bootstraps" with "hard work" is just such a fallacy. It's the social structures which can enable social mobility, innovation, the opportunity to succeed.
Those have been steadily dismantled in the U.S. One can go 6 figures into debt to obtain an education and still not be able to land any sort of job to even pay off the debt.
then they have got to be kidding me on restarting buying more of this toxic waste. Great catch midtowng!
We have Fannie/Freddie not only getting "unlimited" bail out but now we have the supposed "justification" for it being "removed" to do even more toxic securities buying.
This is just unreal and I would like, at this point, to know what specifically each one of these "ABS" types are and what is the chance of them having any real value?
I'll bet zero so is this just anything Zombie bank funnel?
Parents all over the world teach their children that if they work hard they will prosper and the government makes a mockery of that. We also teach them that if they fail then they should learn from that failure and try again. The government makes a mockery of that as well.
of Washington are not the solution. Propping up the mortgage market is not the way to do it. Not targeting full employment with fiscal stimulus is not the way to do it.
Politics is dictating that this crisis be 'kicked down the line'. I agree with #1 above - ABS market is still in trouble. But we are repeating the problems but this time with one new player - FHA.
I like the idea of extending dollar leverage to manufacturers rather than Wall St because that would put people not bankers to work (are bankers really human?).
Now you need to force your way into Obama's inner circle and sell that to him.
An idea like that would need to be carried out while the dollar still has a stranglehold on the other world currencies.
Detroit is also the Great Lakes port through which the Asian Emerald Ash Borer entered the United States through pallets on Asian freighters.
The Emerald Ash Borer has gone on to destroy millions of ash trees throughout the midwest because it has no natural predator.
At the same time Feds are spending billions bailing out Wall Street, midwest states are having difficulty getting a few million Federal dollars to combat this infestation that is a direct result of Federal trade policy.
But doesn't the US have inspections and regulations to prevent this? It appears not. It seems the US has rules and regulations for US pallet makers - e.g. the wood must be chemically treated to avoid infestations - but no regulations on pallets made by Asian importers.
This is yet another example of the harm that United States trade policies have caused its citizens and businesses. Millions of ash trees destroyed. Regulations on US industry (e.g. pallet makers) that is not applied to Asian importers. Millions of lost jobs.
Detroit is the poster child of United States trade policy. Congress wants to stay in its ivory tower and ignore it.
I remember when John McCain campaigned for the presidency in Detroit and had the nerve to tell the suffering people that "these jobs are never coming back" AND provide no viable alternative.
McCain could have said he'd fight for a level international trade playing field for the people of Detroit and the US - that he wouldn't tolerate currency manipulation by China and the importation of goods make by slave labor and environmental polluters.
Instead, John McCain went to Detroit and rubbed salt in their wounds and spat in their face ... and left .. to return to one of his 7 or so private homes.
This is a really sad situation that we are all in. We see that there needs to be something done but yet we cannot do anything. Our government is destroying the economy so badly that it almost seems intentional.
Just so you know I'm working on some upgrades. It's slow going and eats up a lot of time too. So I am hoping some of you who are reluctant to write, (commongood) might venture into posting something.
Also, I am going to assume that more and more people are getting a wide variety of screen sizes, dimensions and we have a couple of issues going on with that, one is a scalable site, which I can do, but another is to scale all images which makes a lot of sense.
It's basically like all things that made America great have been or what's left still is being offshore outsourced to China and India and we're left with the poor and "super banks", funded by the poor.
Awesome.
Yup, China is investing heavily in all sorts of infrastructure....we get....PPIP and ABS, in particular toxic mortgages...
I think though Tony that our readers probably don't know what went on at dailykos and I doubt they care in a lot of ways.
Our readers are more an collection of economics, finance heads who also give a rats ass on the corruption and middle class issues vs. a partisan bunch or whatever.
I also had to reformat your image for it went past the blog width.
But I get the idea we get told why we cannot have that we know did make America strong and would again while we see the very countries where our manufacturing and job base just went to.....get new public works.
doesn't matter. Income inequality creates huge economic inefficiencies in terms of allocation of limited resources to unproductive projects AND huge potential for social unrest.
Nothing has change in terms of economic policy. Any recovery without significant changes will not matter. Just look at the graph in A Decade of Lost Jobs - see the trend - lower job growth by decade.
considering even with food stamps you cannot even have enough to eat, jail provides food, clothing and shelter. Considering the winter weather, sounds like a plan to at least get out of the cold.
This is just a crime. I was watching the "Ed Show" and talking about the royal screw job on the middle class but what never ever comes up and this is my issue with the left, the established left, is they will not examine a host of policies which are causing this.
i.e. trade, labor arbitrage, outsourcing and age discrimination...
I mean there are a host of policy recommendations that if implemented could really turn it around for the U.S. middle class/working stiff and they never touch on these.
Detroit unemployment is now 50% unofficially, yet believe this or not, the whole tech market in that area is loaded with foreign guest workers and offshore outsourced.
implies there is some inflation in raw materials for manufacture. That's not surprising to me because we had a major deflationary recession in 2009 as global trade collapsed.
I still wouldn't get one's panties all in a bunch thinking this is all happy talk, it's not. It just shows some good news for manufacturing, but last month's non-manufacturing ISM was contracting and that's the majority of the economy.
Krugman's 1937 op-ed is a damn good one to point out that one can have "good news blips" on the screen that "do not a trend make". I believe "trends" vs. absolutes as well as the time period of a "trend" is pretty much the reason we "diverged" from "other economics bloggers" (who shall remain nameless but I think you know who I'm referring to)
At least for me, that's the divergence. So, while this is great news, it doesn't mean Krugman's warnings and data are not valid or the prediction of a 40% chance of a double-dip.
I think all of this is possible, esp. because so much bad stuff was simply "kicked down the road" and the overall structural problems with the economy.
Also, did you notice the "global recovery" is lead by China and India, with their "manufacturing" being #1? This makes me sick for I see what has happened is the United States simply transferred our jobs, our manufacturing, our services to these countries and now it's being used against the United States and it's economic future. It's not "raising all boats" it's simply sinking ours and giving it to theirs.
More and more I see why so many are calling against his confirmation.
This is some serious double speak, now while contained within the speech is a lot of good statistical information, esp. on overall interest rate vs. housing bubble....
But to claim we need "more regulation" all the while, behind the scenes working against it, not utilizing what tools they had and the types of appointments above....
tell me at least, we have yet another fox in the hen house...
At least for me, as Kwak (who has much more credibility) also decided that was the last straw and Bernanke shouldn't be confirmed.
We also have, right now, a host of articles trying to claim the reason one cannot find a job is there is "something wrong with them". i.e. it's all that person's "fault".
Disgusting and what's wrong with them? Over 35?
This claim that one can just "make it on one's own bootstraps" with "hard work" is just such a fallacy. It's the social structures which can enable social mobility, innovation, the opportunity to succeed.
Those have been steadily dismantled in the U.S. One can go 6 figures into debt to obtain an education and still not be able to land any sort of job to even pay off the debt.
then they have got to be kidding me on restarting buying more of this toxic waste. Great catch midtowng!
We have Fannie/Freddie not only getting "unlimited" bail out but now we have the supposed "justification" for it being "removed" to do even more toxic securities buying.
This is just unreal and I would like, at this point, to know what specifically each one of these "ABS" types are and what is the chance of them having any real value?
I'll bet zero so is this just anything Zombie bank funnel?
oligarchy. Government in itself is not bad. Government owned and controlled by big money interests is BAD.
RebelCapitalist.com - Financial Information for the Rest of Us.
Parents all over the world teach their children that if they work hard they will prosper and the government makes a mockery of that. We also teach them that if they fail then they should learn from that failure and try again. The government makes a mockery of that as well.
of Washington are not the solution. Propping up the mortgage market is not the way to do it. Not targeting full employment with fiscal stimulus is not the way to do it.
Politics is dictating that this crisis be 'kicked down the line'. I agree with #1 above - ABS market is still in trouble. But we are repeating the problems but this time with one new player - FHA.
RebelCapitalist.com - Financial Information for the Rest of Us.
I like the idea of extending dollar leverage to manufacturers rather than Wall St because that would put people not bankers to work (are bankers really human?).
Now you need to force your way into Obama's inner circle and sell that to him.
An idea like that would need to be carried out while the dollar still has a stranglehold on the other world currencies.
tell me what is the difference between a cow and a zebra they are both black and white so which is a cow and which is a zebra?
Well, Bernard Madoff was able to run his Ponzi scheme for 20 years, maybe the US government can do the same ?? what do you think ??
Detroit is also the Great Lakes port through which the Asian Emerald Ash Borer entered the United States through pallets on Asian freighters.
The Emerald Ash Borer has gone on to destroy millions of ash trees throughout the midwest because it has no natural predator.
At the same time Feds are spending billions bailing out Wall Street, midwest states are having difficulty getting a few million Federal dollars to combat this infestation that is a direct result of Federal trade policy.
But doesn't the US have inspections and regulations to prevent this? It appears not. It seems the US has rules and regulations for US pallet makers - e.g. the wood must be chemically treated to avoid infestations - but no regulations on pallets made by Asian importers.
This is yet another example of the harm that United States trade policies have caused its citizens and businesses. Millions of ash trees destroyed. Regulations on US industry (e.g. pallet makers) that is not applied to Asian importers. Millions of lost jobs.
Detroit is the poster child of United States trade policy. Congress wants to stay in its ivory tower and ignore it.
I remember when John McCain campaigned for the presidency in Detroit and had the nerve to tell the suffering people that "these jobs are never coming back" AND provide no viable alternative.
McCain could have said he'd fight for a level international trade playing field for the people of Detroit and the US - that he wouldn't tolerate currency manipulation by China and the importation of goods make by slave labor and environmental polluters.
Instead, John McCain went to Detroit and rubbed salt in their wounds and spat in their face ... and left .. to return to one of his 7 or so private homes.
This is a really sad situation that we are all in. We see that there needs to be something done but yet we cannot do anything. Our government is destroying the economy so badly that it almost seems intentional.
Just so you know I'm working on some upgrades. It's slow going and eats up a lot of time too. So I am hoping some of you who are reluctant to write, (commongood) might venture into posting something.
Also, I am going to assume that more and more people are getting a wide variety of screen sizes, dimensions and we have a couple of issues going on with that, one is a scalable site, which I can do, but another is to scale all images which makes a lot of sense.
It's basically like all things that made America great have been or what's left still is being offshore outsourced to China and India and we're left with the poor and "super banks", funded by the poor.
Awesome.
Yup, China is investing heavily in all sorts of infrastructure....we get....PPIP and ABS, in particular toxic mortgages...
I think though Tony that our readers probably don't know what went on at dailykos and I doubt they care in a lot of ways.
Our readers are more an collection of economics, finance heads who also give a rats ass on the corruption and middle class issues vs. a partisan bunch or whatever.
I also had to reformat your image for it went past the blog width.
But I get the idea we get told why we cannot have that we know did make America strong and would again while we see the very countries where our manufacturing and job base just went to.....get new public works.
doesn't matter. Income inequality creates huge economic inefficiencies in terms of allocation of limited resources to unproductive projects AND huge potential for social unrest.
Nothing has change in terms of economic policy. Any recovery without significant changes will not matter. Just look at the graph in A Decade of Lost Jobs - see the trend - lower job growth by decade.
We are quickly becoming a caste system.
RebelCapitalist.com - Financial Information for the Rest of Us.
considering even with food stamps you cannot even have enough to eat, jail provides food, clothing and shelter. Considering the winter weather, sounds like a plan to at least get out of the cold.
This is just a crime. I was watching the "Ed Show" and talking about the royal screw job on the middle class but what never ever comes up and this is my issue with the left, the established left, is they will not examine a host of policies which are causing this.
i.e. trade, labor arbitrage, outsourcing and age discrimination...
I mean there are a host of policy recommendations that if implemented could really turn it around for the U.S. middle class/working stiff and they never touch on these.
Detroit unemployment is now 50% unofficially, yet believe this or not, the whole tech market in that area is loaded with foreign guest workers and offshore outsourced.
implies there is some inflation in raw materials for manufacture. That's not surprising to me because we had a major deflationary recession in 2009 as global trade collapsed.
I still wouldn't get one's panties all in a bunch thinking this is all happy talk, it's not. It just shows some good news for manufacturing, but last month's non-manufacturing ISM was contracting and that's the majority of the economy.
Krugman's 1937 op-ed is a damn good one to point out that one can have "good news blips" on the screen that "do not a trend make". I believe "trends" vs. absolutes as well as the time period of a "trend" is pretty much the reason we "diverged" from "other economics bloggers" (who shall remain nameless but I think you know who I'm referring to)
At least for me, that's the divergence. So, while this is great news, it doesn't mean Krugman's warnings and data are not valid or the prediction of a 40% chance of a double-dip.
I think all of this is possible, esp. because so much bad stuff was simply "kicked down the road" and the overall structural problems with the economy.
Also, did you notice the "global recovery" is lead by China and India, with their "manufacturing" being #1? This makes me sick for I see what has happened is the United States simply transferred our jobs, our manufacturing, our services to these countries and now it's being used against the United States and it's economic future. It's not "raising all boats" it's simply sinking ours and giving it to theirs.
and beware of inventory blips (via Prof. Krugman). Just saying.
RebelCapitalist.com - Financial Information for the Rest of Us.
.
More and more I see why so many are calling against his confirmation.
This is some serious double speak, now while contained within the speech is a lot of good statistical information, esp. on overall interest rate vs. housing bubble....
But to claim we need "more regulation" all the while, behind the scenes working against it, not utilizing what tools they had and the types of appointments above....
tell me at least, we have yet another fox in the hen house...
At least for me, as Kwak (who has much more credibility) also decided that was the last straw and Bernanke shouldn't be confirmed.
was incredibly damning on GS and derivatives in general.
So, yes, I think this was due to the PR/press that would have ensued had it come out that GS helped destroy a real company providing real jobs...
but destroying real companies with real jobs has been going on since the 1980's.
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