Job Losses Spike, 1/3 Can't Pay Rent, Depression Imminent

Discussion in 'Latest US & World News' started by Horhey, Jul 9, 2020.

  1. crank

    crank Well-Known Member

    Joined:
    Jan 20, 2013
    Messages:
    54,812
    Likes Received:
    18,482
    Trophy Points:
    113
    Depends what you mean by 'healthy'.
     
  2. Giftedone

    Giftedone Well-Known Member Past Donor

    Joined:
    Jul 7, 2010
    Messages:
    63,706
    Likes Received:
    13,464
    Trophy Points:
    113
    I know - its the part you missed.
     
  3. Booman

    Booman Banned

    Joined:
    May 19, 2020
    Messages:
    3,161
    Likes Received:
    2,714
    Trophy Points:
    113
    Gender:
    Male
    LOL

    I missed nothing. What is it with democrats and the need to be arrogant and condescending? Do you all suffer from some sort of social retardation?
     
  4. a better world

    a better world Well-Known Member

    Joined:
    May 8, 2016
    Messages:
    5,000
    Likes Received:
    718
    Trophy Points:
    113
    No. Socially useful work that people want done, but which the private sector 'invisible hand' market won't pay for.
     
  5. FreshAir

    FreshAir Well-Known Member Past Donor

    Joined:
    Mar 2, 2012
    Messages:
    150,174
    Likes Received:
    62,813
    Trophy Points:
    113
    so Trump never gave the corps a mega tax cut?
     
  6. a better world

    a better world Well-Known Member

    Joined:
    May 8, 2016
    Messages:
    5,000
    Likes Received:
    718
    Trophy Points:
    113
    Correct. And China with its state funded banking model has worked out how make capitalism work.

    https://ellenbrown.com/2019/06/14/the-american-dream-is-alive-and-well-in-china/

    No...that's the very heart of the problem.

    ie, enterprise funded by private financiers, aka - deservedly - as banksters.

    Btw, Friedman misdiagnosed the causes of the stagflation of the 70's. His statement that inflation is a monetary phenomenon is misleading, though correct in that it points to resource availability as the actual problem

    Friedman: “Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. Friedman (1970) The Counter-Revolution in Monetary Theory. Quantity Theory of Money"

    The quantity theory of money is wrong; if potential productive capacity can be activated, more money will result in real economic growth, not inflation.

    Correct. But neoliberal orthodoxy - which precludes direct money creation by currency-issuing government - must be struck down.

    Sovereign currency-issuing governments do not need to borrow from the private sector (or tax citizens) to fund, eg, pandemic rescue packages or job guarantee programs. See MMT.
     
  7. crank

    crank Well-Known Member

    Joined:
    Jan 20, 2013
    Messages:
    54,812
    Likes Received:
    18,482
    Trophy Points:
    113
    For example?
     
  8. a better world

    a better world Well-Known Member

    Joined:
    May 8, 2016
    Messages:
    5,000
    Likes Received:
    718
    Trophy Points:
    113
    No that's just basic supply-side nonsense.

    In fact, workers need above poverty wages to spend into businesses...and to avoid poverty.

    ...Dr. Watson....
     
  9. crank

    crank Well-Known Member

    Joined:
    Jan 20, 2013
    Messages:
    54,812
    Likes Received:
    18,482
    Trophy Points:
    113
    Well, no they don't. And spending is the very last thing poor people should be doing.
     
    Last edited: Jul 10, 2020
  10. Booman

    Booman Banned

    Joined:
    May 19, 2020
    Messages:
    3,161
    Likes Received:
    2,714
    Trophy Points:
    113
    Gender:
    Male
    Really? Explain then how a business can survive and expand with high operating costs
     
  11. a better world

    a better world Well-Known Member

    Joined:
    May 8, 2016
    Messages:
    5,000
    Likes Received:
    718
    Trophy Points:
    113
    Nursing aides. Teachers aides. Public park maintenance. Visiting nursing homes. ....Speak to your local council.... much volunteer work should be paid employment whenever someone cannot find employment in the private sector.

    Why? Because the productive capacity of modern AI, IT and robot-assisted economies is such that everyone can be employed in socially desired/useful work, at above poverty level, whether engaged in the public sector, or private 'invisible hand' markets.

    Nations can now afford to fund a job guarantee, funded via money creation in the public sector, alongside money creation in the private sector (when banks write loans for credit-worthy customers).

    Unemployment and poverty is unacceptable. Watch those suburbs burn, baby...
     
    Last edited: Jul 10, 2020
  12. a better world

    a better world Well-Known Member

    Joined:
    May 8, 2016
    Messages:
    5,000
    Likes Received:
    718
    Trophy Points:
    113
    Easy. Make a profit.......Dr. Watson...but you are blinded by supply-side nonsense.
     
    Last edited: Jul 10, 2020
  13. Booman

    Booman Banned

    Joined:
    May 19, 2020
    Messages:
    3,161
    Likes Received:
    2,714
    Trophy Points:
    113
    Gender:
    Male
    LOL

    And how does a business make a profit?
     
    Last edited: Jul 10, 2020
  14. LangleyMan

    LangleyMan Well-Known Member

    Joined:
    Nov 14, 2017
    Messages:
    44,677
    Likes Received:
    12,448
    Trophy Points:
    113
    Gender:
    Male
    Corporations can't necessarily pass along taxes to their consumers, in this country or overseas.
     
  15. a better world

    a better world Well-Known Member

    Joined:
    May 8, 2016
    Messages:
    5,000
    Likes Received:
    718
    Trophy Points:
    113
    By selling a product the public wants, at a price the public is prepared to - and able - to pay.

    If the business can't do that while paying its employees above poverty wages, it's got no business being in business...
    .
     
    Booman likes this.
  16. FreshAir

    FreshAir Well-Known Member Past Donor

    Joined:
    Mar 2, 2012
    Messages:
    150,174
    Likes Received:
    62,813
    Trophy Points:
    113
    phone, electric companies and others without real competition often do
     
    Last edited: Jul 11, 2020
  17. a better world

    a better world Well-Known Member

    Joined:
    May 8, 2016
    Messages:
    5,000
    Likes Received:
    718
    Trophy Points:
    113
    More on neoliberalism:

    http://bilbo.economicoutlook.net/blog/?m=20200709

    The – Report of the Special Rapporteur on extreme poverty and human rights – for the UN was released this week (July 7, 2020). It was Philip Alston’s last report in that role. It is a shocking indictment of the way neoliberalism has distorted our societies and the way the governments with the capacity to ‘move mountains should they wish’ have been co-opted as agents of capital and perpetuate those distortions. The Report is 19 pages of horror.......

     
    Last edited: Jul 11, 2020
  18. Giftedone

    Giftedone Well-Known Member Past Donor

    Joined:
    Jul 7, 2010
    Messages:
    63,706
    Likes Received:
    13,464
    Trophy Points:
    113
    Few things more "arrogant and condescending" than assuming someone you have never debated before is from the Blue party.

    So lets review

    I said: " Brilliant deduction Watson - but how does this relate to Oligopolies using nefarious practices to reduce wage competition - and competition from the little guy - small businesses"

    I said "I know it is the part you missed" - referring to the part in bold = your claim did not consider this issue. This is neither arrogant or condescending. Your claim stated an obvious truth - good for you - There are waves in the Ocean - "So what"

    and you respond with the above rant ? .. You definitely missed any comment with respect these issues (Bold) thus far - and you admit to this... but now you are contradicting yourself .. and all of a sudden I am a raging Liberal.

    Did you wish to comment on these things in any way ? - or Not :)
     
  19. modernpaladin

    modernpaladin Well-Known Member Past Donor

    Joined:
    Apr 23, 2017
    Messages:
    27,694
    Likes Received:
    21,090
    Trophy Points:
    113
    Gender:
    Male
    Yes, that's how it'll start. But this is govt we're talking about here. With profit/loss/failure no longer concerns, the efficiency will rapidly degenerate to nil. Still better than folks starving, and here's to hoping I'm proven wrong.
     
    Last edited: Jul 11, 2020
  20. Eleuthera

    Eleuthera Well-Known Member Donor

    Joined:
    Jun 13, 2015
    Messages:
    22,694
    Likes Received:
    11,760
    Trophy Points:
    113
    He was raised that way. It's in his DNA
     
  21. LangleyMan

    LangleyMan Well-Known Member

    Joined:
    Nov 14, 2017
    Messages:
    44,677
    Likes Received:
    12,448
    Trophy Points:
    113
    Gender:
    Male
    You should read your article--the Chinese don't actually own real estate.
    Friedman's assertion about money is nevertheless correct. How the money is created is an essential matter.
    As I said before, printing money creates the potential for inflation and has the potential for undermining confidence in the value of the currency.
     
    Last edited: Jul 11, 2020
  22. LangleyMan

    LangleyMan Well-Known Member

    Joined:
    Nov 14, 2017
    Messages:
    44,677
    Likes Received:
    12,448
    Trophy Points:
    113
    Gender:
    Male
    Every $2/hour job brought back and paid $20/hour to attract the worker away from a $20/hour job that survives without a tariff wall reduces our standard-of-living.
     
    ronv likes this.
  23. LangleyMan

    LangleyMan Well-Known Member

    Joined:
    Nov 14, 2017
    Messages:
    44,677
    Likes Received:
    12,448
    Trophy Points:
    113
    Gender:
    Male
    They do indeed. Other companies have a more difficult time because they face stiffer competition.
     
  24. Heartburn

    Heartburn Well-Known Member

    Joined:
    Nov 3, 2015
    Messages:
    13,499
    Likes Received:
    4,973
    Trophy Points:
    113
    WHUT?
     
  25. LangleyMan

    LangleyMan Well-Known Member

    Joined:
    Nov 14, 2017
    Messages:
    44,677
    Likes Received:
    12,448
    Trophy Points:
    113
    Gender:
    Male
    Before COVID-19 our unemployment rate was very low. Every $2/hour job we bring back that we have to pay $20/hour to compete for workers must be protected by a tariff wall. Of course, we'll face a tariff wall in return. We'll pay higher prices for goods made here that would have been made overseas and have a more difficult time selling abroad because if tariffs we then face.
     

Share This Page