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Discussion in 'Politics, Religion, Social Issues' started by zimv20, Jul 12, 2003.
Why am I not surprised? Corporate profitability has been on a downhill slide for decades.
Once the rest of the developed world started rebuilding its manufacturing infrastructure after WW II, and other previously-undeveloped countries started building their own (India, China, e.g.), our position of supremacy came to jeopardy.
IMO, it doesn't matter what any administration does, or what Congress does: It's gonna get a good bit worse before it gets better...
I just got a new job.
Of course, four people including the President and VP were laid off to create the one new job in the wake, but I still got a salaried job. Oh, I guess that's why the unemployment is so high.
- 4 +1 = -3 new jobs
or you could use Bushaccounting, which would give you:
(-4)-1 = 4 new jobs -- yay for tax cuts!!
My new job pays 60% of what my old one did. My pay cut makes up for my smaller tax cut.
notice a pattern here?
hmmmm, jobless rate highest since 1983.....
so who was in office then?
reagan and poppa bush.
just another coincidence i'm sure.
That does not include all the other people who are ineligible for unemployment benefits. It's starting to look like the 1970s.
Were you alive in the 1970s?
bousozoku was born in 1959, and you?
Let's just say I'm old enought to remember when CDs weren't used to store data and they were paying as high as 13 -14 percent. Interest rates and inflation make today look very much unlike the 1970s. Perhaps someone has forgotten in his old age!
I think you don't remember the gas rationing, the constant manfacturing layoffs (esp. auto companies), and all the people on welfare.
Is there gas rationing today? (no) Are welfare rolls down? (yes). Are auto companies laying off massive numbers? (not sure). It's looking less and less like the 1970s.
Hooray! We don't have feathered hair! 2.5 million jobs lost in 2 years is OK!
Electric disco and wide ties.
The economists were ecpecting this. With all of the news that the economy is finally ready to turn around, there will be a rush of unemployed filing.
Remember, this is a statistic, and as bousozoku mentions, it counts neither those ineligible, or not looking.
So try to take this statistic with a tempered view.
The economic problems we have now are nothing like the '70s, but they are no less serious on account of that.