During that last four years economic growth has been stagnant in most of the world. Central Banks "helping the economy" have been expanding the money supply hand over fist in attempts to get consumption going. They keep saying the problem is not enough consumption, yet unless there is wealth being created to fund consumption all that is being created is an unsustainable debt and bubbles. Looking at this chart can anyone honestly tell me what the Central Banks have been doing is in the best interest of the majority of the populace?
Uhh.. funding debt with counterfeit money? Oh - you said "in the best interest of the majority of the populace". My bad.
Talk about a logical fallacy at it's finest. We lost almost a quarter of our net worth, 8 million jobs, and the entire financial sector almost crumbled. The stock market lost almost half it's value, millions of people couldn't afford their homes, the real estate market was collapsing, the entire world was headed to a depression. So the Fed saved us all by making sure we had access to credit and there was liquidity in the system. Along with making sure the financial system didn't fully collapse. You guys should be thanking the Fed for this rather than attacking them. Amazing how people talk about the Fed when they literally have no clue what the Fed does and why they do it.
Maybe we lost near a quarter of our net worth because resources were mis allocated, so much so the market tried to correct only to be stifled leading to anemic growth and asinine attempts to fix it by overeducated narcissistic (*)(*)(*)(*)(*)(*)s who think they can control one of the most complex systems on the planet.
Looks like it worked to me... maybe these educated guys know what they are doing, and you uneducated guys don't.
Yay, GDP is up and stuff everything is saved except that no one can find work and labor force participation is back to 1970's levels and wages as a percentage of GDP is at an all time low and that 60% of Americans have less than $500 dollars saved in their bank accounts and that all the jobs being created are government jobs and low wage service sector jobs as well as a (*)(*)(*)(*)ton of other things... Opps, run on.
You just make stuff up. Public employment has gone down almost 1 million jobs in the past 4 years... private employment has almost increased by 5 million.
That's nice, but public sector employment still outpaces private sector employment. And the economy is still 13 million jobs short of its pre-crisis trend.
You are still making stuff up. If the Government were allowed to spend the necessary amount of money, we wouldn't have an unemployment problem. The Repubs are literally starving this economy based on their failed ideology.
Whoopee GDP is above where it was! Everything is alright! Oh wait, I forget that it doesn't measure things like wealth disparity or income growth, so its possible for GDP to increase and wages to go down, like it has in this country. Thats certainly something to celebrate. Also remember that GDP doesn't measure mis allocation of assets, we may be in for another bubble caused recession or depression. I'm willing to bet on it. Stop using GDP as the sole measure of economic well being, because that is the educated thing to do.
No, I never make anything up. It is spending the necessary money, and it still has an unemployment problem. Majority of the jobs created are low skill, low wage service sector jobs which product nothing.
You guys just make stuff up on the fly, it's funny to watch. The desperate attempts to make America look worse off than it really is comical!
There are trillions of dollars of wealth sitting in the offshore bank accounts of the 1%. The problem is, all that wealth is sitting in their offshore bank accounts instead of getting spend, that the middle classes, which will spend, don't have the wealth. 30 years of "trickle down" economic policies:
Ummmm... yea you did. You said, govt employment is outpacing private employment. Even your own graph disproves you, lol. This might be the first year in almost 6 decades that the Government spends less than they spent the previous year. Who cares about skill level of jobs right now. Get people an income, put them to work... and the rest will handle itself. It's worked for decades but now all of a sudden we are stopping and going the opposite direction.
Your own graph shows that over the past three years, with the exception of a short temporary blimp because of the census, public sector employment has been decreasing.
I said public sector employment outpaces private sector employment and that's what it shows if you average out the data.
It's graphed in 'percentage change' for a reason, genius. The percentage change for public sector employment outpace (and most often dwarfs) private sector employment. Except it hasn't worked for decades. As for who cares, I'm sure flesh and blood individuals care.
Ummm... yea, why should people not looking for work be included in the unemployment rate which measures people looking for work who can't find work? Lol
What period of time are you using? We are talking about the actions of the Fed and Obama after the financial crisis. There is less public sector employees now than there was in 2007. In the past 3 years private sector employment has gone up 5 million while public sector has gone down 1 million. Sorry but you are just making stuff up on the fly. Largest, most productive economy in the history of mankind. Your envy of the United States is amazing!!
I am not talking about the number of employed in the private sector vs. public sector. I am talking about rate of of employment increases in the public sector vs. private sector. I'm sorry that you can't understand what I read, but this is what I've said for over an hour. Do I need to show you again? So your response to why unemployment is still high, why wages as a percentage to GDP is so low and why majority of Americans are living paycheck to paycheck is (as always) that they live in the largest economy in the world and they need to suck it up. That's pretty sad.
Not over the past three years. 1/2 million lost their jobs, mostly in the Republican controlled states.
The issue with akphidelt2007 is that he does not understand what goes into the charts and figure he quotes. For example, I am sure he knows what GDP is and can probably quote the formula. However, he does not know what the history, or what happens when emphasis shift from one part of the formula to another. I am not an economist but I am in treasury management and accounting. When neo-chartalists like him speak as if federal governments keep books like any corporation, then it belies an ignorance on their part. It one that even someone like me, a person who only has a cursory knowledge of the topic, can plainly detect.