“If we were at 5 percent unemployment, two bad payroll reports in a row would be of some concern yet tolerable,” Blinder writes in The Wall Street Journal. “But when viewed against the background of 9 percent-plus unemployment, they are catastrophic.”
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ya think
And they needed to write an article to state such a blatantly obvious fact?……..Sheesh.
Speaking of job creation, just what kind of jobs do they think they can create? Something that actually pays a living wage? Or are they going to revive the work camps of the 30’s and have everyone planting trees?
It should be apparent to all by now that the US cannot compete in the sector which could be described as “basic goods”. The days of earning a decent wage whilst turning out sweatshirts, socks and tee shirts are gone forever. Name one piece of basic everyday flotsam that is made here….your coffeepot, the pans or dishes in your cabinets….maybe the cabinets themselves…..75% of the items in WalMart are from CHINA. The simple truth is that we can’t go back and there is a huge shakeout coming. We are no where even close to the edge of the cliff yet.
@heaterman – Blinder actually proposes some concrete steps in the original OP-ED piece. Try this link: http://online.wsj.com/article/SB10001424052702303678704576439813221655044.html?mod=googlenews_wsj
we need to take the de-regulation from the carter days and rescind it. we need to take nafta and rescind it. america needs to take a long hard look at what just those two piece’s of legislation have done to this country. what we are all seeing now,are the effects of just those. doesnt anyone remember,that when a president does this type of junk,it’s effects arent realized for some time. funny thing though, those two are still alive to see the harm that its done. and i’m amazed that they go on in life, as a sociopath. no one ever calls those two on the rug. just like this president.we wont feel the real effects of this bozo for a long time. we have digested the carter fiasco,although many ultra large transportation companies failed because of de-regulation. now we are feeling the effects of nafta. hey bill……..dont think that blow job from monica lewinsky was that good do ya, good thing she got it all over her dress,kinda like the same result were seeing in your nafta,the blow job against the people that got spooged all over. it must be nice for the mexicans to come up north, make ten grand, then spend six wintery months back home in the sun and living in a brand new home built for almost nothing. thats what nafta did. most working folks cant do that, make barely nothing, then go sit under the sun and use american dollars to live like kings.
“…live like kings.”
Really?
You don’t think you’re exagerating just a little bit there?
What kings throught all of history do you know that can buy iPhones? None! He’s clearly understating the quality of life as kings could not dream of such technology.
Plus how expensive can a mexican hooker be in Mexico? $1? So you have $10 and you have a harem of 10 women.