MzMia
Posts: 5333
Joined: 7/30/2004 Status: offline
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quote:
ORIGINAL: Fellow From the artickle: "The financial crisis is, for all practical purposes, over, and forecasters are now generally expecting the job market to turn around early in 2010 and begin creating jobs. The task ahead for the next generation of economists is to figure out how, in a decade that began with such economic promise, things went so wrong." This is a typical nonsence the journalists come out these days. There are clear signs the US is close to a collapse in a few years: 1. The economy: unseen in history debt and borrowing, insane budget deficits, huge and still increasing trade deficit, war, structural problems, the parasitic part of the economy is prevalent (pushing paper and money around), absurd income distribution. 2. The demographics: retirement peak of the "baby boomers", illegal immigration, public education crisis. 3. The goverment: divided, incompetent, corrupt, acessory to looting, acting on impulse rather than having a meaningful strategy. I am going to agree with Fellow's thinking here. Almost everything I have read states that we will probably have a high number of people that are unemployed for at least 3-7 years. Here are the links I posted on my "Terrible Teens" thread from 7 days ago, I am re-posting the links, cause not a damn thing has changed since last week. UCLA 2010 Economic Forecast: High Unemployment | Wall Street Survivor University Even as Economy Mends, a Jobless Decade May Loom - NYTimes.com All this talk is cheap, when the unemployment numbers start going down, and situations really begin to change, than I will be impressed. Talk is damn cheap, show me the jobs, show me things changing, until then? Until then, I am calling BULLSHIT, on unemployment going significantly DOWN any time SOON. I heard somewhere we need to create at LEAST 300,000 jobs a month, to BEGIN to tread water! 300,000 a month to just pull us up!! Paul Krugman from the NY Times article called "The Jobs Deficit" about 3 weeks ago, I think he is on the money here. The jobs deficit - Paul Krugman Blog - NYTimes.com
< Message edited by MzMia -- 1/2/2010 3:00:49 PM >
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