July 11 (Bloomberg) -- President Barack Obama said his $787 billion stimulus bill “has worked as intended” as he pushed back against Republican criticism that his recovery program has failed to rescue the economy. “It has already extended unemployment insurance and health insurance to those who have lost their jobs in this recession,” Obama, who is traveling today in Ghana, said in his weekly Saturday radio and Web address. “It has delivered $43 billion in tax relief to American working families and business.”
As unemployed people buy less imported goods, that pushes GDP up
Inventory correction nowadays happens much faster (and more violently) than in the 30 years ago, affecting GDP
And the government expenditures are always a wild card
NEW YORK (MarketWatch) - After a busy quarter of capital raises and government repayments, investors are likely to face the proverbial fork in the road to recovery next week, as earnings from banks and brokers will help split the haves from the have-nots. At the close of the second quarter, it was clear most financial institutions, aided by more than $200 billion of direct government support, avoided the cataclysmic fate of Lehman Brothers.
Doesn't this run counter to the diffusion index CR posted? The diffusion index seemed to indicate people of many occupations and income levels were losing their jobs. This seems to indicate it's mostly at the lower income levels where the jobs are being lost...or maybe I don't understand?
By now I would think that most people have no trust in many of the gov numbers.
Too many un - under - employed are talking to each other.
What I find funny is that when I explain that the gov refigured the way they count things, people look at me like I am a nut case. They just don't know and they think what I am telling them comes from under a tin hat.
"Many people have no idea who pays the teachers, trash trucks, fire trucks, partol cars, water main lines etc etc. They simply exist and respond as needed. "
Maybe we'll see more targetted charitable donation.
People will chip in for a new firetruck, but not a bunch of gold plated pensions, a teacher's salary but not a new football field, etc.
The number of people setting up their own households has fallen to some of the lowest levels in a generation, a trend that threatens to prolong the recession. Many people, young and old, who in more promising times would be out on their own, are finding themselves like Alan Ridenour -- stuck at square one.
"What I find funny is that when I explain that the gov refigured the way they count things, people look at me like I am a nut case. They just don't know and they think what I am telling them comes from under a tin hat."
It is really futile to try to explain things to the Deltas.Even many Betas prefer the comfort of their ignorance.
Okun's law is just a general relationship, and the relationship appears to have changed over time (as mentioned in the WSJ).
Ahhh Okun's law does not account for the 20 - 25M+ part timers, underemployed, freelancers, consultants in the USA Zombieconomy of today where
1. Wages are deflating.
2. Unemployment continues to grow.
3. Underemployment is growing faster than unemployment.
Despite trillions in investment
sm landlord, that is the point. Funds come from local gov. Those gov are broke or going broke.
In Az county property tax pays for schools. Property values down = taxes down = teachers laid off. Same for city paid services.
And our damned ele co is asking for yet another hike in fees. Two regular hikes last year plus one emergency increase. Now they want another one. Last year our elec bill went up 15%.
Obama hails Africa's promise...Hmmm is that why he promised $63B when this country is broke ?
Memorable quotes for Coming to America
Maurice: Hey, I started out mopping the floor just like you guys. But now... now I'm washing lettuce. Soon I'll be on fries; then the grill. And pretty soon, I'll make assistant manager, and that's when the big bucks start rolling in. Coming to America (1988) - Memorable quotes
I am not sure the miltary couldn't do a better job than the idiots in Washington. I think a trained Gibbon could frankly
Lest anyone reading this think I want such a thing, H--- NO. Still all things considered the US is overdo for a Junta anyway. Its just one step in our unvarying "march to 3rd world status"
Given the fact our military is mostly poor, working, and middle class if I was the elite I'd keep them far far away from home, if take or things go south over it won't be pleasant for the elite at all.
NET NET: Okun's law is irrelevant
Well, even Isaac Newton's formulation of Gravitational Law worked until you got to an area that needed a relativistic interpretation. Okun didn't account for the intense perturbations caused by circling a black hole, or credit expanding at the speed of light.
Even if over this time frame you're comparing apples to persimmons, given how the unemp numbers have been gamed more recently, what if we highlighted the quarters since, oh, 2000? You could still expect more red triangles above trend line given jobless recoveries.
And with fewer jobs and no loose money, recovery is no where in sight. What's going to keep the consumption cult going? Chickens coming home to roost, but none for the pot.
I'm actually quite glad we've wasted our military in such a fashion in Afghanistan and Iraq, fighting against an an anonymous enemy of millions of faces, not one of them in an identifying uniform, while we are oh so identifiable.
josap;
"And our damned ele co is asking for yet another hike in fees. Two regular hikes last year plus one emergency increase. Now they want another one. Last year our elec bill went up 15%."
Be glad you weren't in Cali for the so-called "deregulation" fiasco. It bankrupted several power companies, individuals, and the state itself.
My electric bills (I pay a bunch of them) are laden with state and local taxes and surcharges plus a bunch of "generation surcharges" and "distribution fees". Tax collections are at an all-time high, marginal fuel costs are near their lows for the last 20 years, electricity is more expensive than ever, other than a few months during the fiasco. You have to pay your electric bill if you want to live a "normal" life.
Did anyone in AZ notice that NatGas (used for peaker plants) is dirt cheap right now? Is it possible that other expenses are out of control?
What is out of control is that each area has either SRP or APS. We have no compition.
I do understand your view on deregulation, didn't work well. However our monopolies don't work well either. And our corp commision has no spine.
Our elec power comes from 1 nuke plant, several dams and coal. I don't think they use much natural gas. I will ask my friend who works for APS when I see him.
Interestingly, The Fed paper the WSJ piece mentions shows that for the recovery period of 2003-2006 was below the trend line (unemployment decreased faster than GDP increased.) Though with CR's improved, parabolic line, maybe not.
The Fed paper was written in 2007, and the author uses the term Great Moderation (in caps) several times. I found that pretty amusing. May need to be redacted, or changed to Great Credit Bubble.
I should clarify that I'm not necessarily opposed to deregulation, but what we got in Cali was not deregulation at all. Instead, it was just a stratification of new monopolies and bottlenecks that ended up discouraging the construction of new generation and distribution facilities, thus laying the groundwork for scarcity.
Nuke and Coal plants are used for base load generation. Dams can be used either way, and NatGas plants are usually used for peak loads, since they can be turned off and on fairly quickly. You probably have NatGas peaker plants as well.
"Here in Fremont, CA i've noticed a real upswing in the homeless."
Come on down to SM town.
Last week, I had to clean a "camp kit" out of a large electrical box behind a building. One presto log, one half-gallon of fire-starter fuel, two pillows, assorted rotting food, some ceramic tiles (firebed?), and other related debris.
We had to seal the maintenance access portals to keep them from crawling under the building. Tenants get upset when there are people crawling around under the ground floor. I'm thankful that they didn't set the building on fire with the fire kit.
"Before joining the Fed, Ben Bernanke, working with Andrew Abel, figured more recent suggested about a 2% decrease in output for every 1% increase in unemployment."
So, say we have 50% unemployment, does that mean we have a 100% decrease in output? Does that mean that half of the economy is being paid to do nothing?
So, say we have 50% unemployment, does that mean we have a 100% decrease in output? Does that mean that half of the economy is being paid to do nothing?
~~~~~
No but it would be close to zero while the riots/ revolution happens ....
sdtfs (profile) wrote (in reply to...) on Sat, 7/11/2009 - 4:07 pm
NET NET: Okun's law is irrelevant
Well, even Isaac Newton's formulation of Gravitational Law worked until you got to an area that needed a relativistic interpretation. Okun didn't account for the intense perturbations caused by circling a black hole, or credit expanding at the speed of light.
The "Great Moderation" sounds almost whimsical now. Sounded pretty silly at the time too. At least in my field we were still working through the backwash of the Asian crisis.
"No but it would be close to zero while the riots/ revolution happens ...."
LIKE FIRE
I remember the clubs rising and falling
Rising and falling like slanted rain,
No I won’t tell you what skulls they were breaking,
Hard were the clubs, and pain is pain
Or if it was fully deserved or whether
It was unappeased and cruel disdain
That made them swing their clubs together,
Rising and falling like slanted rain
I remember their faces frozen with rage,
I was close enough to see it plain,
The souls of their souls, no camouflage,
Clubs in the air like slanted rain
Their rage was like fire to burn all together
The souls and the clubs like slanted rain
You will find that you generate most of your power from Coal and Nukes, but due to the cyclic nature of electricity demand, you need to have a large amount of natural gas units.
"The "Great Moderation" sounds almost whimsical now."
It's bound to go down among the most boneheaded utterances of history, akin to Fisher's "permanent plateau". But in this case, I doubt the speakers have the integrity or horsepower to undertake "self-criticism" as Ficher did.
I wonder if that guy thinks we didn't go to the moon...I seem to recall visiting that site once and coming away with a strong sense that he was the conspiracy type....I'll have to check it out again...
Okun's Law refers to the relationship between change in unemployment and real GDP growth above potential not real GDP growth. The best relationship is between year on year Real GDP growth above potential GDP and the year on year change in unemployment (lagged). nonetheless WSJ's conclusion is the same unemployment has risen much faster than would have been suggested by Okun's law. More worrisome is to plug in consensus GDP forecast and the outlook for unemployment is very dour indeed.
The real question is what percentage of jobs lost will be related to future jobs gained. We are losing more jobs and the pool of jobs available is shrinking as the population increases; however, I'm just pulling that out of my ass...
"The real question is what percentage of jobs lost will be related to future jobs gained. We are losing more jobs and the pool of jobs available is shrinking as the population increases; however, I'm just pulling that out of my ass..."
huh?
Paradox of Thrift?
Importance of being employed is highly overrated
BR wants to document The Decline.
I want to reverse it.
The right sequence of memes at the right times might do it.
Ponder that, Homeland Security.
From the last thread but relevant to the unemployment issue..
Could Obama shut up or say something like "Geither, Summers and Rubin are telling me all is OK, Bernanke agrees with them"
Obama Says Economic Stimulus Plan Worked as Intended (Update2)
Obama Says Economic Stimulus Plan Worked as Intended (Update2) - Bloomberg.com
By Edwin Chen
July 11 (Bloomberg) -- President Barack Obama said his $787 billion stimulus bill “has worked as intended” as he pushed back against Republican criticism that his recovery program has failed to rescue the economy. “It has already extended unemployment insurance and health insurance to those who have lost their jobs in this recession,” Obama, who is traveling today in Ghana, said in his weekly Saturday radio and Web address. “It has delivered $43 billion in tax relief to American working families and business.”
Rohrschach Job Test?
Government spending ....
Food stamps, extended unemployment and war ...
Amazing how historical data, estimates, and correlates wind up being an economic Law.
Hubris, meet Nemesis.
C
Government NOT spending on Food stamps, extended unemployment and war == Loss of functional society
Ayup. Until an outlier comes along. Another Black Swan.
As unemployed people buy less imported goods, that pushes GDP up
Inventory correction nowadays happens much faster (and more violently) than in the 30 years ago, affecting GDP
And the government expenditures are always a wild card
Looks like another Phillips curve ...
My thinking is government knows that if it spends a certain amount on social programs
the measured unemployment rate stays the same as those that are newly unemployed
match those that are no longer counted ...
But as the word spreads through families, churches, food banks and community organizations
this tactic will be exposed for what it is ... disposable people ...
I had a loose Bernanke this morning.
Or a curve. Named after someone. Who's wrong, again.
C
"Hubris, meet Nemesis."
Gosh!
How can anyone write this with a straight face?
Earnings season brings financials to great divide
Earnings season brings financials to great divide - MarketWatch
By Ryan Williams
NEW YORK (MarketWatch) - After a busy quarter of capital raises and government repayments, investors are likely to face the proverbial fork in the road to recovery next week, as earnings from banks and brokers will help split the haves from the have-nots. At the close of the second quarter, it was clear most financial institutions, aided by more than $200 billion of direct government support, avoided the cataclysmic fate of Lehman Brothers.
Doesn't this run counter to the diffusion index CR posted? The diffusion index seemed to indicate people of many occupations and income levels were losing their jobs. This seems to indicate it's mostly at the lower income levels where the jobs are being lost...or maybe I don't understand?
Lucifer
Government NOT spending on Food stamps, extended unemployment and war == Loss of functional society
~~~~
Agreed ...
They are playing a perception game with the numbers ...
All the core constituents come first .... banksters, MIC, Big Ag and Healthcare Inc ...
The small guy be damned ...
If push came to shove, i'd prefer we left our military forces high and dry in distant outposts to fend for themselves...
Bringing them back pissed off to an America that doesn't resemble anything like the country they left, is a recipe for disaster.
They've all seen what a $15 i.e.d can do~
Who consumes? Hint.. the rich are the minority as far as consumption is concerned.
//This seems to indicate it's mostly at the lower income levels where the jobs are being lost...or maybe I don't understand?//
"..... Ben Bernanke, working with Andrew Abel, figured more recent suggested about a 2% decrease in output for every 1% increase in unemployment."
Is where the fantasy UE estimates that the the FED and White House were spouting a few months ago came from?
By now I would think that most people have no trust in many of the gov numbers.
Too many un - under - employed are talking to each other.
What I find funny is that when I explain that the gov refigured the way they count things, people look at me like I am a nut case. They just don't know and they think what I am telling them comes from under a tin hat.
From the previous thread:
"Many people have no idea who pays the teachers, trash trucks, fire trucks, partol cars, water main lines etc etc. They simply exist and respond as needed. "
Maybe we'll see more targetted charitable donation.
People will chip in for a new firetruck, but not a bunch of gold plated pensions, a teacher's salary but not a new football field, etc.
We call that .. "pulling a broward".
Fewer New Households Formed in Recession: Unemployment Likely to Make The Trend Worse
Falling Number of New Households Could Prolong Recession - washingtonpost.com
By Annys Shin
Friday, July 10, 2009
The number of people setting up their own households has fallen to some of the lowest levels in a generation, a trend that threatens to prolong the recession. Many people, young and old, who in more promising times would be out on their own, are finding themselves like Alan Ridenour -- stuck at square one.
By using deficit spending the USG is bringing consumption ~ GDP forward ...
"What I find funny is that when I explain that the gov refigured the way they count things, people look at me like I am a nut case. They just don't know and they think what I am telling them comes from under a tin hat."
It is really futile to try to explain things to the Deltas.Even many Betas prefer the comfort of their ignorance.
pavel - ok, it's an oldie but a goodie. The longer version is "Hubris, meet Nemesis. I'm sure you have much to talk about..."
C
yep..
//"Hubris, meet Nemesis."//
"People will chip in for a new firetruck, but not a bunch of gold plated pensions, a teacher's salary but not a new football field, etc."
~~~~
LOL ... in Nassau county or La Jolla maybe ...
Disempowered Paper Pusher,
Reading too much Ayn Rand?
"People will chip in for a new firetruck, but not a bunch of gold plated pensions, a teacher's salary but not a new football field, etc."
That stuff (firetrucks, trash trucks, patrol cars, schools, etc.) is paid for out of local funds anyway.
......our last two paramedic units were paid for by the local brothels...........
"......our last two paramedic units were paid for by the local brothels..........."
~~~~
ongoing or one off ?
"pavel - ok, it's an oldie but a goodie. The longer version is "Hubris, meet Nemesis. I'm sure you have much to talk about..."
C
First I've heard it. I like it for its witty concision. It sums up at least five thousand years of human history.
Budget deficit of $2 trillion is 1.5 trillion higher than normal ...
That's 10% of GDP .... at least the old , higher, GDP ...
mmckinl,
Are those numbers meaningful.. think about that
Ahhh Okun's law does not account for the 20 - 25M+ part timers, underemployed, freelancers, consultants in the USA Zombieconomy of today where
1. Wages are deflating.
2. Unemployment continues to grow.
3. Underemployment is growing faster than unemployment.
Despite trillions in investment
NET NET: Okun's law is irrelevant
sm landlord, that is the point. Funds come from local gov. Those gov are broke or going broke.
In Az county property tax pays for schools. Property values down = taxes down = teachers laid off. Same for city paid services.
And our damned ele co is asking for yet another hike in fees. Two regular hikes last year plus one emergency increase. Now they want another one. Last year our elec bill went up 15%.
Lucifer
Are those numbers meaningful.. think about that ...
~~~~
I believe they are for GDP .... but not for people ...
It started with Reaganomics ... we now owe $50 trillion ...
A healthy normal debt ratio is 1 to 1 with GDP ...
We have pulled forward $36 trillion of consumption ....
Think about those numbers !
a chart for you ...
http://4.bp.blogspot.com/_9ZzZquaXrR8/SlFRqh1OFkI/AAAAAAAAENI/M-btT2xlRqM/s1600-h/DebtGDP.gif
Use much electricity in Az?
LOL dr munch.
It is 116 deg today. The A/C and all 3 fans have not stopped.
Obama hails Africa's promise...Hmmm is that why he promised $63B when this country is broke ?
Memorable quotes for Coming to America
Maurice: Hey, I started out mopping the floor just like you guys. But now... now I'm washing lettuce. Soon I'll be on fries; then the grill. And pretty soon, I'll make assistant manager, and that's when the big bucks start rolling in.
Coming to America (1988) - Memorable quotes
Lucifer
Are those numbers meaningful.. think about that.
~~~~~
think about it this way ...
The money will get spent, the $2 trillion deficit extra ...
Over 10 % of GDP ...
Once it gets into the economy the insolvent banksters will vacuum it off for their
loan loss reserves ...
That chart looks scary.
I am not sure the miltary couldn't do a better job than the idiots in Washington. I think a trained Gibbon could frankly
Lest anyone reading this think I want such a thing, H--- NO. Still all things considered the US is overdo for a Junta anyway. Its just one step in our unvarying "march to 3rd world status"
Given the fact our military is mostly poor, working, and middle class if I was the elite I'd keep them far far away from home, if take or things go south over it won't be pleasant for the elite at all.
"That chart looks scary. "
~~~~
Terrifies Me ...
abprosper
There are two different militaries ....
Captain on down ...
Colonel on up ...
Very different people ...
NET NET: Okun's law is irrelevant
Well, even Isaac Newton's formulation of Gravitational Law worked until you got to an area that needed a relativistic interpretation. Okun didn't account for the intense perturbations caused by circling a black hole, or credit expanding at the speed of light.
Charts can be scary. Some can be funny, like this. File under "Tech Analysis with Big Marker Pens".
Forex Trading USD vs AUD :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
C
Even if over this time frame you're comparing apples to persimmons, given how the unemp numbers have been gamed more recently, what if we highlighted the quarters since, oh, 2000? You could still expect more red triangles above trend line given jobless recoveries.
And with fewer jobs and no loose money, recovery is no where in sight. What's going to keep the consumption cult going? Chickens coming home to roost, but none for the pot.
Morning Anak - more like bird flu coming home to roost?
C
I'm actually quite glad we've wasted our military in such a fashion in Afghanistan and Iraq, fighting against an an anonymous enemy of millions of faces, not one of them in an identifying uniform, while we are oh so identifiable.
Just how dumb are we?
"There are two different militaries ....
Captain on down ...
Colonel on up ..."
What about majors and LTCs? and enlisted?
Chickens coming home.
I need about 6 chckens for my back yard. Fresh eggs in the morning, or omlets for dinner.
Wonder what my city code says about chickens?
josap;
"And our damned ele co is asking for yet another hike in fees. Two regular hikes last year plus one emergency increase. Now they want another one. Last year our elec bill went up 15%."
Be glad you weren't in Cali for the so-called "deregulation" fiasco. It bankrupted several power companies, individuals, and the state itself.
My electric bills (I pay a bunch of them) are laden with state and local taxes and surcharges plus a bunch of "generation surcharges" and "distribution fees". Tax collections are at an all-time high, marginal fuel costs are near their lows for the last 20 years, electricity is more expensive than ever, other than a few months during the fiasco. You have to pay your electric bill if you want to live a "normal" life.
Did anyone in AZ notice that NatGas (used for peaker plants) is dirt cheap right now? Is it possible that other expenses are out of control?
Blackhalo
"There are two different militaries ....
Captain on down ...
Colonel on up ..."
What about majors and LTCs? and enlisted?
~~~~~
Sorry I meant Majors on up ...
The enlisted are obviously in the bottom half ...
The division is obviously a socio-economic division Blackhalo ...
Draw the lines where you want but they are there ...
What is out of control is that each area has either SRP or APS. We have no compition.
I do understand your view on deregulation, didn't work well. However our monopolies don't work well either. And our corp commision has no spine.
Our elec power comes from 1 nuke plant, several dams and coal. I don't think they use much natural gas. I will ask my friend who works for APS when I see him.
Interestingly, The Fed paper the WSJ piece mentions shows that for the recovery period of 2003-2006 was below the trend line (unemployment decreased faster than GDP increased.) Though with CR's improved, parabolic line, maybe not.
The Fed paper was written in 2007, and the author uses the term Great Moderation (in caps) several times. I found that pretty amusing. May need to be redacted, or changed to Great Credit Bubble.
Can't edit my misstypings.
I either must learn to spell, type or get my nails done. maybe all three.
ABProsper andMmckinl,
Read all about why the Air Force has to do what they have to do,
(8/16/98) Scenario: Military Coup in 2012
The Christian Taliban has taken over out in Colorado Springs already...
Bob_in_MA
Increasing Debt pulls GDP forward ....
Debt for housing .... deficit spending ...
Why do we refer to things a Great?
Great depression
Great resession
Great modernization
Great credit bubble
None of this is great - it sucks rocks.
Here in Fremont, CA i've noticed a real upswing in the homeless.
I go out sometimes in the morning for a coffee and see a lot if homeless people in the bus shelters as well as around the Starbucks.
I've also noticed two homeless encampments in the brush right next to 880 highway.
Fremont has one of the highest median incomes in the Bay Area. Very sad.
I should clarify that I'm not necessarily opposed to deregulation, but what we got in Cali was not deregulation at all. Instead, it was just a stratification of new monopolies and bottlenecks that ended up discouraging the construction of new generation and distribution facilities, thus laying the groundwork for scarcity.
Nuke and Coal plants are used for base load generation. Dams can be used either way, and NatGas plants are usually used for peak loads, since they can be turned off and on fairly quickly. You probably have NatGas peaker plants as well.
C, what doesn't kill us makes us randier.
(and I mean that in the non-Ayn sense).
"Here in Fremont, CA i've noticed a real upswing in the homeless."
Come on down to SM town.
Last week, I had to clean a "camp kit" out of a large electrical box behind a building. One presto log, one half-gallon of fire-starter fuel, two pillows, assorted rotting food, some ceramic tiles (firebed?), and other related debris.
We had to seal the maintenance access portals to keep them from crawling under the building. Tenants get upset when there are people crawling around under the ground floor. I'm thankful that they didn't set the building on fire with the fire kit.
Dickylee - interesting link. Got anything more recent than 1998?
C
You certainly have a lot of natural gas plants. This link:
http://www.eia.doe.gov/cneaf/electricity/page/capacity/existingunits2005.xls
gives you everything in your state... granted, for 2005, but that is close enough.
"Before joining the Fed, Ben Bernanke, working with Andrew Abel, figured more recent suggested about a 2% decrease in output for every 1% increase in unemployment."
So, say we have 50% unemployment, does that mean we have a 100% decrease in output? Does that mean that half of the economy is being paid to do nothing?
So, say we have 50% unemployment, does that mean we have a 100% decrease in output? Does that mean that half of the economy is being paid to do nothing?
~~~~~
No but it would be close to zero while the riots/ revolution happens ....
Anak (profile) wrote on Sat, 7/11/2009 - 4:33 pm
reply ignore user
C, what doesn't kill us makes us randier.
(and I mean that in the non-Ayn sense).
I remember a Dilbert skit where the phrase was "What doesn't kill us makes us weaker"
C, what doesn't kill us makes us randier.
That's what I love about the comments, all these Rand Dumb thoughts.
Wow, we do have allot of nat gas. I never knew that, thanks for the chart.
sdtfs (profile) wrote (in reply to...) on Sat, 7/11/2009 - 4:07 pm
NET NET: Okun's law is irrelevant
Well, even Isaac Newton's formulation of Gravitational Law worked until you got to an area that needed a relativistic interpretation. Okun didn't account for the intense perturbations caused by circling a black hole, or credit expanding at the speed of light.
Great point but economics is also not a science;)
"...intense perturbations caused by circling a black hole, or credit expanding at the speed of light."
Another example of why I love this blog.
The "Great Moderation" sounds almost whimsical now. Sounded pretty silly at the time too. At least in my field we were still working through the backwash of the Asian crisis.
Thread muse: The Carnival is Over...
YouTube - Dead Can Dance - The Carnival Is Over
C
mmckinl (profile) wrote on Sat, 7/11/2009 - 6:41 pm
reply Ignore user
"People will chip in for a new firetruck, but not a bunch of gold plated pensions, a teacher's salary but not a new football field, etc."
~~~~
LOL ... in Nassau county or La Jolla maybe ...
No they want a football field, but the teacher is not important. Sports drive the school system not education.
"No but it would be close to zero while the riots/ revolution happens ...."
LIKE FIRE
I remember the clubs rising and falling
Rising and falling like slanted rain,
No I won’t tell you what skulls they were breaking,
Hard were the clubs, and pain is pain
Or if it was fully deserved or whether
It was unappeased and cruel disdain
That made them swing their clubs together,
Rising and falling like slanted rain
I remember their faces frozen with rage,
I was close enough to see it plain,
The souls of their souls, no camouflage,
Clubs in the air like slanted rain
Their rage was like fire to burn all together
The souls and the clubs like slanted rain
-- Pavel
josap, take a look at this as well:
http://www.eia.doe.gov/cneaf/electricity/epa/generation_state.xls
You will find that you generate most of your power from Coal and Nukes, but due to the cyclic nature of electricity demand, you need to have a large amount of natural gas units.
'I remember a Dilbert skit where the phrase was "What doesn't kill us makes us weaker"'
Actually, considering who wrote the original aphorism, you might say that what doesn't kill us makes us demented.
comrade mike ~
This was not my quote ...
"People will chip in for a new firetruck, but not a bunch of gold plated pensions, a teacher's salary but not a new football field, etc."
~~~~
This was :
"LOL ... in Nassau county or La Jolla maybe ..."
"The "Great Moderation" sounds almost whimsical now."
It's bound to go down among the most boneheaded utterances of history, akin to Fisher's "permanent plateau". But in this case, I doubt the speakers have the integrity or horsepower to undertake "self-criticism" as Ficher did.
fuchsia!
what doesn't kill us makes us demented
Isn't that what syphilis is supposed to do before it kills you?
Josap-- So what would our unemployment numbers be like if we counted them how we used to?
about 16%
see shadowstats.com
good articles: Blogger: Blog not found
watching $SPX $ES_F $SPY $FAZ $FAS Monday we probably rally. buy? $GOOG $AAPL $BAC ? $GS maybe?
.
"see shadowstats.com "
I wonder if that guy thinks we didn't go to the moon...I seem to recall visiting that site once and coming away with a strong sense that he was the conspiracy type....I'll have to check it out again...
Okun's Law refers to the relationship between change in unemployment and real GDP growth above potential not real GDP growth. The best relationship is between year on year Real GDP growth above potential GDP and the year on year change in unemployment (lagged). nonetheless WSJ's conclusion is the same unemployment has risen much faster than would have been suggested by Okun's law. More worrisome is to plug in consensus GDP forecast and the outlook for unemployment is very dour indeed.
Plus about 10 to the10 school admins talk a good game, but when it comes down to it its all about the ______team.....
The real question is what percentage of jobs lost will be related to future jobs gained. We are losing more jobs and the pool of jobs available is shrinking as the population increases; however, I'm just pulling that out of my ass...
"The real question is what percentage of jobs lost will be related to future jobs gained. We are losing more jobs and the pool of jobs available is shrinking as the population increases; however, I'm just pulling that out of my ass..."
"Player Piano" anyone?
I would be interested to see the dates on the other data points. I wonder if they correlate to savings rates, or personal debt ratios.
Edited.