U.S. Economy lost about 5.25 million jobs in 2008

[WhipperSnapper]

It looks like the U.S. economy lost at least 5,245,000 jobs in 2008.

It's been reported that 3,445,000 jobs were lost and if the nation needs about 150,000 new jobs each month to keep pace with population explosion--jobs the economy should generate as it expands to accommodate new people and to maintain a steady percentage of working aged people who are employed, then the number reaches 5,245,000.

I found the stat here and I'm assuming that it's credible:

http://www.vdare.com/roberts/090111_economy.htm

Is it time to reconsider the "wisdom" of foreign outsourcing, H-1B and L-1 visas, illegal immigration, and mass legal immigration?

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Doom! Gloom! Are you celebrating this news? Do you want America to fail?

 

[MovingTarget]

Protectionism has its place. Free trade != fair trade. Some pie in the sky vision of market efficiencies by dropping all trade barriers is too high a price to pay in some cases. We (and our industries/workers) are now reaping the results.

 

[Slew Foot]

Well most of the illegals are doing jobs that Americans are too good to do so those jobs shouldnt count

 

[sandorski]

Originally posted by: MovingTarget
Protectionism has its place. Free trade != fair trade. Some pie in the sky vision of market efficiencies by dropping all trade barriers is too high a price to pay in some cases. We (and our industries/workers) are now reaping the results.

IIRC, that's what was thought as the Great Depression grabbed hold and it proved(?) to only make things worse. I read that somewhere a long time ago, so I can't vouch for the truth/authenticity of it. I would just say though, that you need to be careful at jumping to seemingly "easy solutions". It appears that the one time Tax Rebates of last spring were such a "solution" that Cost a lot, but did little and the just finished Bailouts may also end up being in the same category, although there's still time for their affect to kick in.

 

[Train]

Originally posted by: MovingTarget
Protectionism has its place. Free trade != fair trade. Some pie in the sky vision of market efficiencies by dropping all trade barriers is too high a price to pay in some cases. We (and our industries/workers) are now reaping the results.

yet it wasnt free trade that triggered the downfall.

In free trade there is no such thing as a company that can get too big to fail. Wall Street wasnt stupid, they all pointed to Fannie & Freddie and cried "over valued!!!!" but because it's backed by the govt (NOT free trade) the buyers said "so what, they are backed by the govt, they CAN'T fail!" and invested away...

The banks then followed suit and got tied into fannie/freddi because they bought so many mortgage backed securities.

Free markets depend on the ability of a company to fail. That way no company can become over valued or complacent. Free markets also would have eliminated the single point of failure that was the mortgage disaster.

 

[imported_K3N]

Free trade/market is awesome, long live the middle class

NOT
http://www.youtube.com/watch?v=tuHCAXtjZ6Q

 

[WhipperSnapper]

Originally posted by: Slew Foot
Well most of the illegals are doing jobs that Americans are too good to do so those jobs shouldnt count

I hope you're being facetious.

 

[Jiggz]

And just what do you foresee will be the job numbers (losses) for 2009? Will it be up or down? IMO, UP!

 

[Zebo]

Fix your debt now - we're in for a ride of a lifetime when they start the printing presses.

And obviously I agree 100% with PCR on this issue. The elite whether though altruism, permanent Democratic majority vote seeking, or Cheap Labor Business Titans, all ask us to forget supply and demand curves when it come to foreign labor and we are seeing the results.


OTOH I don't think you can kick out those who are here. It's not right morally and would lead to mass riots. We need to take away the incentive and that's done by taking away the jobs they come pine for though DHS and IRS checks before anyone is hired and jailing employers who violate it.

 

[RichardE]

Originally posted by: Slew Foot
Well most of the illegals are doing jobs that Americans are too good to do so those jobs shouldnt count

Load of bullshit and you know it.

 

[Zebo]

Originally posted by: sandorski

Originally posted by: MovingTarget
Protectionism has its place. Free trade != fair trade. Some pie in the sky vision of market efficiencies by dropping all trade barriers is too high a price to pay in some cases. We (and our industries/workers) are now reaping the results.

IIRC, that's what was thought as the Great Depression grabbed hold and it proved(?) to only make things worse. I read that somewhere a long time ago, so I can't vouch for the truth/authenticity of it. I would just say though, that you need to be careful at jumping to seemingly "easy solutions". It appears that the one time Tax Rebates of last spring were such a "solution" that Cost a lot, but did little and the just finished Bailouts may also end up being in the same category, although there's still time for their affect to kick in.

Urban legend. It's almost universally accepted by economists and finally discovered in the 60's by Milton Friedman and Anna Schwartz in their seminal work "Monetary History of the United States" - The Great Depression lasted a decade because the Fed allowed Money Supply to shrink. The shrunken money supply could not employ the same number of workers at the same wages, and it could not purchase the same amount of goods and service at the same prices. Therefore, prices and employment fell though the floor.

 

[Oceandevi]

Originally posted by: Zebo
Fix your debt now - we're in for a ride of a lifetime when they start the printing presses.

And obviously I agree 100% with PCR on this issue. The elite whether though altruism, permanent Democratic majority vote seeking, or Cheap Labor Business Titans, all ask us to forget supply and demand curves when it come to foreign labor and we are seeing the results.


OTOH I don't think you can kick out those who are here. It's not right morally and would lead to mass riots. We need to take away the incentive and that's done by taking away the jobs they come pine for though DHS and IRS checks before anyone is hired and jailing employers who violate it.

These would actually make a difference. Enforcing laws and all.