"Jobless Recovery" = Euphemism for "Continued Recession"?

[TheSkinsFan]

Originally posted by: dmcowen674

Originally posted by: GrGr

The Japanese middle class and workers have been living in a severe depression while the ruling elite have been making out like bandits...

Pretty much sums up the U.S. now. All done by design.

We're in the midst of a "severe depression"? that's news to me... I guess it's time to stock up on more soup and water!

:roll:

 

[Phokus]

Originally posted by: Jaskalas

Originally posted by: dmcowen674

Originally posted by: GrGr

The Japanese middle class and workers have been living in a severe depression while the ruling elite have been making out like bandits...

Pretty much sums up the U.S. now. All done by design.

So I ask, what has been done about it?

conservative solution: Tax breaks for the rich :roll:

 

[dmcowen674]

Originally posted by: TheSkinsFan

Originally posted by: dmcowen674

Originally posted by: GrGr

The Japanese middle class and workers have been living in a severe depression while the ruling elite have been making out like bandits...

Pretty much sums up the U.S. now. All done by design.

We're in the midst of a "severe depression"? that's news to me... I guess it's time to stock up on more soup and water!

:roll:

Anything is news to you. You have your head so far down in the sand you can see Japan.

 

[IndyColtsFan]

Originally posted by: dmcowen674

Originally posted by: TheSkinsFan

Originally posted by: dmcowen674

Originally posted by: GrGr

The Japanese middle class and workers have been living in a severe depression while the ruling elite have been making out like bandits...

Pretty much sums up the U.S. now. All done by design.

We're in the midst of a "severe depression"? that's news to me... I guess it's time to stock up on more soup and water!

:roll:

Anything is news to you. You have your head so far down in the sand you can see Japan.

Contrasting that to where you have your head.....nah, that is way too easy.

We are in a recession, not a "severe depression." I haven't seen soup and bread lines yet, nor have I seen 20%+ unemployment.

 

[RyanPaulShaffer]

In an economy that is largely based on consumer spending, claiming a "jobless economic recovery" is laughable at best...a flat-out lie at worst. How are people going to buy goods and services if they don't have a job or any money? How is an economy "recovering" if people are still losing their jobs at a rapid pace?

 

[sandorski]

Originally posted by: RyanPaulShaffer
In an economy that is largely based on consumer spending, claiming a "jobless economic recovery" is laughable at best...a flat-out lie at worst. How are people going to buy goods and services if they don't have a job or any money? How is an economy "recovering" if people are still losing their jobs at a rapid pace?

Too simplistic a view. It indeed can and probably is happening.

 

[Jaskalas]

Originally posted by: Phokus

Originally posted by: Jaskalas

Originally posted by: dmcowen674

Originally posted by: GrGr

The Japanese middle class and workers have been living in a severe depression while the ruling elite have been making out like bandits...

Pretty much sums up the U.S. now. All done by design.

So I ask, what has been done about it?

conservative solution: Tax breaks for the rich :roll:

Conservatives have to deal with the boogiemen hiding under your bed? Cause I figured the Democrats and their super majority would deal with the ruling elite making out like bandits.

Of course you cannot point to what you've done about it. Which was the exact point I made with Moonbeam.

 

[Special K]

Originally posted by: sandorski

Originally posted by: RyanPaulShaffer
In an economy that is largely based on consumer spending, claiming a "jobless economic recovery" is laughable at best...a flat-out lie at worst. How are people going to buy goods and services if they don't have a job or any money? How is an economy "recovering" if people are still losing their jobs at a rapid pace?

Too simplistic a view. It indeed can and probably is happening.

Care to elaborate on that? 70% of GDP is consumer spending. Given the relatively high unemployment rate, reduced credit lines and home values, and increased savings rates, where is the increased consumer spending coming from?

 

[Engineer]

Outside of government jobs (Homeland security created a bunch, etc), was there actually "job creation" during the last "recovery"? (I'm searching....)...

Not a coincidence that the last recovery is the first since the industrial revolution that featured a reduction in manufacturing employees in the US.

 

[First]

Originally posted by: Jaskalas

Originally posted by: Phokus

Originally posted by: Jaskalas

Originally posted by: dmcowen674

Originally posted by: GrGr

The Japanese middle class and workers have been living in a severe depression while the ruling elite have been making out like bandits...

Pretty much sums up the U.S. now. All done by design.

So I ask, what has been done about it?

conservative solution: Tax breaks for the rich :roll:

Conservatives have to deal with the boogiemen hiding under your bed? Cause I figured the Democrats and their super majority would deal with the ruling elite making out like bandits.

Of course you cannot point to what you've done about it. Which was the exact point I made with Moonbeam.

They'd do as much as the 3rd party nutballs would do; next to nothing. Welcome to American government.

 

[sandorski]

Originally posted by: Special K

Originally posted by: sandorski

Originally posted by: RyanPaulShaffer
In an economy that is largely based on consumer spending, claiming a "jobless economic recovery" is laughable at best...a flat-out lie at worst. How are people going to buy goods and services if they don't have a job or any money? How is an economy "recovering" if people are still losing their jobs at a rapid pace?

Too simplistic a view. It indeed can and probably is happening.

Care to elaborate on that? 70% of GDP is consumer spending. Given the relatively high unemployment rate, reduced credit lines and home values, and increased savings rates, where is the increased consumer spending coming from?

I have no Figures to offer, but some Logic should work to explain it. For starters, Consumer Spending still exists, people got to Eat, replace Clothes, and are still buying small ticket Items. Even in some months since the beginning of the Recession there has been some Increases in Consumer Spending, including Big Ticket items.

More importantly though, "Recovery" does not mean "back to where the Economy was". It simply means the Economic Contraction has ended and that Economic Growth has returned. Due to that, the Economy can be "Recovered", but not have 70% Consumer Spending driving it. That also means that Jobless Rates can be much Higher than they were before the Recession. As long as GDP Growth exists, there is no "Recession" and the Economy is "Recovered".

 

[Special K]

Originally posted by: sandorski

Originally posted by: Special K

Originally posted by: sandorski

Originally posted by: RyanPaulShaffer
In an economy that is largely based on consumer spending, claiming a "jobless economic recovery" is laughable at best...a flat-out lie at worst. How are people going to buy goods and services if they don't have a job or any money? How is an economy "recovering" if people are still losing their jobs at a rapid pace?

Too simplistic a view. It indeed can and probably is happening.

Care to elaborate on that? 70% of GDP is consumer spending. Given the relatively high unemployment rate, reduced credit lines and home values, and increased savings rates, where is the increased consumer spending coming from?

I have no Figures to offer, but some Logic should work to explain it. For starters, Consumer Spending still exists, people got to Eat, replace Clothes, and are still buying small ticket Items. Even in some months since the beginning of the Recession there has been some Increases in Consumer Spending, including Big Ticket items.

More importantly though, "Recovery" does not mean "back to where the Economy was". It simply means the Economic Contraction has ended and that Economic Growth has returned. Due to that, the Economy can be "Recovered", but not have 70% Consumer Spending driving it. That also means that Jobless Rates can be much Higher than they were before the Recession. As long as GDP Growth exists, there is no "Recession" and the Economy is "Recovered".

In that case I agree, but the consequence of what you are describing as a recovery is that it may take a very long time for GDP to return to what it was before it started declining in the first place.

I assumed when most people talked about a recovery, they meant a recovery of jobs, GDP, etc. to pre-recession levels, not just a positive number instead of a negative one.

 

[TheSkinsFan]

nvm

 

[sandorski]

Originally posted by: Special K

Originally posted by: sandorski

Originally posted by: Special K

Originally posted by: sandorski

Originally posted by: RyanPaulShaffer
In an economy that is largely based on consumer spending, claiming a "jobless economic recovery" is laughable at best...a flat-out lie at worst. How are people going to buy goods and services if they don't have a job or any money? How is an economy "recovering" if people are still losing their jobs at a rapid pace?

Too simplistic a view. It indeed can and probably is happening.

Care to elaborate on that? 70% of GDP is consumer spending. Given the relatively high unemployment rate, reduced credit lines and home values, and increased savings rates, where is the increased consumer spending coming from?

I have no Figures to offer, but some Logic should work to explain it. For starters, Consumer Spending still exists, people got to Eat, replace Clothes, and are still buying small ticket Items. Even in some months since the beginning of the Recession there has been some Increases in Consumer Spending, including Big Ticket items.

More importantly though, "Recovery" does not mean "back to where the Economy was". It simply means the Economic Contraction has ended and that Economic Growth has returned. Due to that, the Economy can be "Recovered", but not have 70% Consumer Spending driving it. That also means that Jobless Rates can be much Higher than they were before the Recession. As long as GDP Growth exists, there is no "Recession" and the Economy is "Recovered".

In that case I agree, but the consequence of what you are describing as a recovery is that it may take a very long time for GDP to return to what it was before it started declining in the first place.

I assumed when most people talked about a recovery, they meant a recovery of jobs, GDP, etc. to pre-recession levels, not just a positive number instead of a negative one.

Yup. That's what Krugman has been warning about. It's almost as bad as the Recession itself, especially given the many coming problems the US has regarding SS and other Shortfalls caused by Retiring Baby Boomers. Economic Growth needs to remain High and not just above 0.

 

[sao123]

Originally posted by: WhipperSnapper

Lately the media has been tossing around the phrase "jobless recovery". This raises the question--is it really a "recovery" if it is jobless and should a "recovery" be measured by the well-being of wealthy stockholders and CEOs or by the well-being of the lower classes who need jobs and who suffer the most in recessions? Is "jobless recovery" really just a fancy euphemism for "prolonged recession" or "continued recession"? Might the term also be an attempt to put a happy face (the word "recovery") on the implication that the standard of living for much of the populace will have decreased permanently or at least long term?

I wish that the media and pundits would stop using the term "jobless recovery" and just tell it to us straight. I wish they would just come out and say that they forecast a prolonged recession.

a recovery with no jobs is not a recovery.

 

[Jiggz]

Originally posted by: sandorski

Originally posted by: RyanPaulShaffer
In an economy that is largely based on consumer spending, claiming a "jobless economic recovery" is laughable at best...a flat-out lie at worst. How are people going to buy goods and services if they don't have a job or any money? How is an economy "recovering" if people are still losing their jobs at a rapid pace?

Too simplistic a view. It indeed can and probably is happening.

"Probably" is the keyword. I'm wondering why you even bothered to post such when all it means is "I don't know"! I guess it makes you sound like you know something that nobody else knows which is basically "I don't know".

 

[Jiggz]

Originally posted by: Special K

Originally posted by: sandorski

Originally posted by: RyanPaulShaffer
In an economy that is largely based on consumer spending, claiming a "jobless economic recovery" is laughable at best...a flat-out lie at worst. How are people going to buy goods and services if they don't have a job or any money? How is an economy "recovering" if people are still losing their jobs at a rapid pace?

Too simplistic a view. It indeed can and probably is happening.

Care to elaborate on that? 70% of GDP is consumer spending. Given the relatively high unemployment rate, reduced credit lines and home values, and increased savings rates, where is the increased consumer spending coming from?

You obviously missed the keyword "probably", in layman's term it means "I don't know"

 

[sandorski]

Originally posted by: Jiggz

Originally posted by: sandorski

Originally posted by: RyanPaulShaffer
In an economy that is largely based on consumer spending, claiming a "jobless economic recovery" is laughable at best...a flat-out lie at worst. How are people going to buy goods and services if they don't have a job or any money? How is an economy "recovering" if people are still losing their jobs at a rapid pace?

Too simplistic a view. It indeed can and probably is happening.

"Probably" is the keyword. I'm wondering why you even bothered to post such when all it means is "I don't know"! I guess it makes you sound like you know something that nobody else knows which is basically "I don't know".

Except it doesn't mean "I don't know". It is a mathematical term, meaning "very likely" or "most likely".

 

[GuitarDaddy]

What we've experienced isn't a recession, it was a full fledged crash. Not quite the level of wealth destruction as the great depression, but damn close. We will probably technically end the "recession" with at least a qtr of economic growth before too long, but we will be a decade or more regaining the wealth and jobs lost in the last 2yrs.