Again, it's definitions. What was the labor participation rate in Jan, 2009? And do you think the last month is the indicative one? What was the average U6 or U3 for President Bush's and President Obama's tenures? Most people would average out such numbers, not take one of the worst numbers from one administration and one of the best from another. People think it's a recession (even though it technically isn't), because the "recovery" was a dead cat bounce. Now that recovery has run out of steam and we're just bouncing on the bottom waiting to drop further.
What was quoted was "And Wednesday, Bloomberg News released a poll showing that a full 34 percent of Americans mistakenly believe the unemployment rate is now worse than it was when Obama took office" Sure, some people might decide those words mean something else. To the extent the English language means anything at all, those people would simply be wrong. No. The bottom was 2009. We are way off the bottom now. People think that we are in a recession because (a) as you say, they don't know what a recession is, and (b) they've been lied to by certain parties who have an interest in them believing we are in a recession. barfo
Many people sense we're in a recession because of the pathetic rebound, as maxiep said, and the mediocre GDP growth and the quality of jobs that are available. The lying that's been done is about wage and wealth disparity.
Oh, dear. I see you are trying to pretend you're well-acquainted with economic theory when you are trying to hold people to specific definitions (the letter) but ignoring the larger picture (the spirit). Yes, you are technically correct when you say that those terms have specific meanings. However, if you ask most people how to calculate the unemployment rate, they couldn't do it. And especially not the different specific unemployment rates. So they're wrong. Big deal. Do you think those 34% feel good about this economy? It's been a disaster for specific sectors of it. And LOL about "way off the bottom". It's been the weakest recovery since WWII. And any decent economist will tell you that the deeper the recession, the bigger the bounceback. This recession most modeled 81-82. Instead, the recovery has looked like that coming out of the recession of 1929-33. Of course, that one was much deeper, but we're seeing the same kind of bounceback, and that's what so troubling. As for who is making everyone feel bad, I see you forget what the Democrats said about life in the Bush era. I personally remember the snarky replies of Democratic politicians when presented with low U3 and U6 numbers like, "Sure people have jobs, and they're working three of them just to make ends meet". Today, they don't even have the option of working three of those jobs. Sorry your fragile snowflakes can't take other politicians pointing out the flaws in the "recovery". Perhaps if it were actually a robust recovery, the evil Republicans wouldn't be able to spin it in such a mean way.
No. I am not well acquainted with economic theory. You are the economist here, yet you are the one who claimed "the U6 is higher". So I went and looked up the rates, and surprisingly enough, the economist was wrong. Now you (the economist) want to claim you were right 'in spirit' about the U6 rate. Sorry, not buying that. Employment statistics are not spiritual. I think you are one of the 53% who have allowed themselves to be convinced of a factual untruth due to bias. Yes, but it's been going on for a long time now. So we are way off the bottom. Is everything rosy? Definitely not. That's absolutely true. If things were better, Republicans would have a somewhat harder time lying. They still would, of course. But it would be harder. barfo
Different era, same old boring Barfo. All you wish to do is win your narrow definition. Yep, you're the one with Tiger Blood here. Enjoy.
Way to derail a thread guys. Anyways, millenials are fucking morons. They are more concerned with pointing out problems and blaming someone than actually fixing the problem. They know fixing a problem takes time and effort. if they don't get the change in a short amount of time, they give up. It's called the microwave generation. It's a Damn shame too. They could make so Much good change in this world with all the social media platforms and tools they have available to them. Instead they just like to bitch and put blame on others
What I don't get about my generation (if I even count as a millennial-1994) is how hypocritical they are. Full of anti-gov conspiracy theorists yet want MORE gov. Don't get me even started on their gender logic and shit, it's like a scene out of idiocracy.
I have never understood that contradiction either. If someone of your generation could explain it to me, it would be appreciated it.
We're truly fucked. Are the only kids left with brains missing college because they got hooked on video games? http://www.thedailybeast.com/articl...remembering-9-11-is-offensive-to-muslims.html
All I will say is kids are generally looked at ending the world as we know it. Yet, as those kids age, as they acquire additional responsibility, they usually wisen up.
Really? You have stats saying that the top 1% have only 1% of wages and ownership? Please provide them, so that we can send them to every Economics department to correct every Economics professor in the world.
The lies are about the effect of any disparity. You are demonizing people for being successful for political gain. There are millions and millions of houses owned by people not in the top 1%. Clearly these people don't own it all or enough to be of any real concern. What does matter is that someone, anyone, can go from dirt poor to the top 1%. Mobility. The only thing standing in the way of mobility is social democracy.
The younger, born in the 90s ones were the first of the everyone gets a trophy and is a winner all the time group of kids. They want to have their cake and eat it too.
I'm not clear on your argument here. Home ownership is the sole measure of income disparity? Does it matter to you that a lot of those houses are really owned by the bank, aka the 1%, and not the person with the 30 year mortgage? barfo
Home ownership is an indication that the current 1% don't own so much real estate there's not plenty left for the rest of us. They're not hoarding their money at homeowners' expense. There are enough homes and home builders that almost anyone with a paycheck can afford one. Owned by the bank? OTHER PEOPLES' MONEY. And it's not owned by the bank. The bank has a lien on homes with loans on them. People do pay off their loans if they stay long enough. The bank doesn't share in any appreciation of the property price nor does it share in any sweat equity. Liberals do not understand economics. Or they do and they're lying and dangerous.
It has become the age of entitlements and destruction of those that disagree with them. It's pretty sad really that the large group of a generation would even agree to give up our first amendment right.
