The horizon is not so far as we can see, but as far as we can imagine

Employment and Economic situation in a nutshell

1) In absolute terms there are still less jobs than before the recession.  In absolute terms.  As a percentage of the population, it will not recover in 10 years, which is what I said the moment that Obama announced his stimulus plan. This is the worst recovery, in absolute and relative terms, in post-war history.

2) The stock market has risen about 150% from its lows.

These results reflect, exactly, the priorities of your President, your Central Bank, and your Congress.

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  1. S Brennan

    If you ask either the left [yeah..I know], or the right, it’s easy for the USA to create new jobs, just bring in more people. Whether it’s Riverdaughter, or Rush Limbaugh, all agree, the more we let in, the more jobs we create…clearly, we should let in everybody who wants in…probably a few billion, then [according to the script], we’ll have billions and billions and bill…[sorry for going Sagan] more jobs. What a no brainer, like an Easy Button huh?

    It may seem counter intuitive, and the graph link below shows it to be a complete lie…but dammit, why would anybody in power lie about something like this huh?

    …and don’t say money and power over workers when there too many people for the number of jobs available, because that just doesn’t wash, except with people that are obvious racist xenophobe types…like Barbara Jordan and Caesar Chavez [two of the worst..BTW].

  2. guest

    I don’t usually agree with the digby bashing I see in comments on this blog, but I gotta agree with Brennan that I think it is insane that others on the so called left think immigration is the solution to SS and/or more jobs. Just let the ponzi scheme version of SS go on for another generation before we make the rich pay their fair share, and in the meantime double or triple the number of people in the country so that when we face up to the notion that we somehow have to make do in a world with a stable or declining population. For all their faults, at least allegedly xenophobic Japan has faced up to that one.

    PS, it’s “fewer jobs”, or “less joblessness”. “Less” is not used with plural nouns, “fewer” is only used with plural nouns. You would never say “much jobs” or “much more jobs”, or “many unemployment” or “many more unemployment” (I hope), for the same reason. But somehow Ian can’t wrap his head around the word “fewer”. I blame Canada.

  3. But just watch that stock market index drop the day they stop printing excess money and using it to buy their own bonds.

    And then see the cost of US borrowing shoot up as the ‘Shylocks’ hedge their bets. Your government might have artificially frozen your (supposed) national debt for 70 days but ‘they ain’t foolin’ no-one no-how’!

  4. No sooner had I ‘scribbled’ the comment above when I read this:

    Well worth a read.

  5. Jeff W

    “fewer jobs”

    Usually, in the case of grammatical errors or typos, I’ll send a brief email message about them, with an explanatory subject line and a link to the post in question, to the author, rather than pointing them out in the comments.

    Not only is the email message, in my estimation, more courteous but it eliminates the likelihood of bewildering other readers if and when the text is corrected but the comment remains—and, as an added bonus, in Ian’s case, he invariably responds with a polite acknowledgment. (Credit Canada?)

  6. Z

    Led by robber rubin, who still holds considerable behind-the-scenes power despite being a very central player in the collapse of the american economy, our rulers are pining for the interest rates to rise. Leaving them this low is dangerous and our rulers want them to rise to add value to the dollar and hence their wealth. They want summers manning the electronic money printing presses during this process becoz that they trust that he’ll use them to support the stock market while the interest rate rises. You see, larry “understands”. Yellen is not bought-and-paid-for wall-street-certified like summers is and might not support our wall street lords like larry will. That’s why they don’t want her.


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