Trump has delivered the lowest avg unemployment rate in recorded history

Discussion in 'Political Opinions & Beliefs' started by mitchscove, Jan 20, 2020.

  1. stone6

    stone6 Well-Known Member Donor

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    Not an effective one. But, they've implemented new environmental standards and goals and while both sectors are still growing in China, they are expanding their non-fossil fuel energy sector rapidly as well. Not even communists want to live with dirty air and water.
     
  2. MolonLabe2009

    MolonLabe2009 Banned

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    If factories in the United States could pay their workers the low wages that China does, then the United States GDP would sky rocket...
    https://www.quora.com/What-is-the-average-hourly-rate-for-a-factory-worker-in-China
     
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  3. stone6

    stone6 Well-Known Member Donor

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    I see...so the lower the unemployment, the poorer we all become? Also...median income is not average income. Median means half are above the median, half are below it. Average means you add all wages together and divide by the number of wage earners.
     
    Last edited: Jan 20, 2020
  4. One Mind

    One Mind Well-Known Member Past Donor

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    Question.

    Are these adjusted rates?

    Adjusted for the military? For years the people in service were included in rates as being unemployed since they were not working in the private sector . At some point in my life these people were included as being employed that made unemployment numbers look better .

    So are we comparing apples to apples?

    Of course we have more people working part time jobs today than ever before . So historical jobless rates does not mean our people are doing better from the big picture view. The disparity in income would be more .meaningful when judging if trump has helped working Americans

    The damage of the scheme of globalism that disemboweled America is still with us and trump is trying to make that better. So by god I will give him credit for that. And neither party likes him doing that. For neither party gives a hoot about working people And that is why trump was elected.
     
  5. stone6

    stone6 Well-Known Member Donor

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    Why do you think that? Consumption would go down. In a consumer economy, when consumption falls you don't expand businesses, you fire people and cut-back. Why do you think GDP goes up?
     
  6. MolonLabe2009

    MolonLabe2009 Banned

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    China does not have an EPA, high taxes, burdensome regulations, and high priced factory workers.

    That is the reason China's GDP is so high.
     
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  7. Dispondent

    Dispondent Well-Known Member Past Donor

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    None of those countries had to suffer eight years of Obama, like we did. Trump truly is amazing...
     
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  8. kriman

    kriman Well-Known Member Donor

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    Your comment does not make any sense at all. The new people will make more than they would have earlier The people that have been there would not change. Keep in mind that was only an example. In the meantime normal cost of living wages go on. However, the average wage adjusted for inflation will be less than if new people had not been brought on.
     
  9. stone6

    stone6 Well-Known Member Donor

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    They have huge domestic costs...they are in the process of transitioning from an agricultural economy to an industrial economy and have been at it for two generations. They are spending surpluses on infrastructure and the transition from a state owned economy to one based on private enterprise. Their high GDP rate has largely been created by assuming the role of "global manufacturer," which gives them trade surpluses to build infrastructure.
     
  10. stone6

    stone6 Well-Known Member Donor

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    You're saying that if the average wage goes down, it's off-set by the introduction of more wage earners. But, that doesn't help consumer purchasing power. If wages go down, there is less disposable income. And, when there is less disposable income, there is less incentive for economic expansion, leading to lower GDP.
    You may give more people a "sustainable income" and thus reduce welfare costs, but that doesn't necessarily increase GDP significantly...only marginally.
    Not sure you explained why an owner would bring two additional people in at a higher rate than one additional person they would have brought in at a lower rate in the past. Why?
     
    Last edited: Jan 20, 2020
  11. kriman

    kriman Well-Known Member Donor

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    You have more wages being paid, but they are distributed among more workers. Everyone ends up with the same or more wages. No person gets a wage cut.
    You are intentionally or unintentionally not understanding what I am saying. You have people that have been there for some time. They make more than new people. You bring one new person or a thousand new people, they will have a lower average wage than someone who has been there for some time even though the new employee wage is higher now than it was a year ago. It will bring down the average or median wage even though each and every employee is making as much or more than they would have a year ago.

    Because the hiring market is more competitive, they have to pay more to attract new workers because new workers now have a choice where they can work.
     
    Last edited: Jan 20, 2020
  12. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    You just can't bring yourself to say anything good about Trump. You have a serious issue.
     
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  13. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    That is what radical partisanship does.
     
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  14. Giftedone

    Giftedone Well-Known Member Past Donor

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    Less people are getting fired - from shitty jobs. Great - how does that help average Joe who already has a job at the wages of a serf during the days of the Feudal system.
     
  15. stone6

    stone6 Well-Known Member Donor

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    OK...I understand that. Whether or not that entry wage is driven by supply and demand or the political drive toward a $15/hr minimum wage (particularly in urban areas) is another debate. My point is that if income continues to concentrate in the top few percentiles, while the rest of the percentiles remain essentially flat, there is insufficient disposal income to sustain a middle class, consumer economy. And...IMO, that in turn will destroy our democratic institutions, enhancing the prospects for "minority rule." While part of this is certainly attributable to "greed," much is also inevitable due to globalization (with the labor cost advantages of the emerging economies) and to technology (with increasing automation). The "housing bubble" - i.e. the run-up to the Great Recession - was largely caused not by genuine wage growth, but by the irresponsible extension of credit. With the exception of the top 20%, wages - adjusted for inflation - have remained essentially flat for two generations.
     
    Last edited: Jan 20, 2020
  16. kriman

    kriman Well-Known Member Donor

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    I explained why average wages go down when you bring on more workers. That is my one and only point.
     
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  17. stone6

    stone6 Well-Known Member Donor

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    You explanation depends on the entry wage level. If there is no shortage of workers at that particular skill level, then there is no economic reason to bring new people on at any level higher than $12 (from your example), other than in response to a minimum wage level or the owner's generosity. And, if demand goes down, there is not only a reason to maintain employees at the $20 rate, but a reason to reduce their salaries as well. I have seen the opposite in high skilled employment, wherein the shortage of qualified employees results in new hires being brought in at higher wage levels than the existing employees.
     
  18. ButterBalls

    ButterBalls Well-Known Member

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    God bless Mr, Trump.
     
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  19. ButterBalls

    ButterBalls Well-Known Member

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    LOL. you had to go out of country to find the dark cloud lmfao :)
     
  20. ButterBalls

    ButterBalls Well-Known Member

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    Wow this news has really got you upset! Damn prosperity is a bitter pill to swallow for those on the left :( I'm sad for them in these tough times!
     
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  21. ButterBalls

    ButterBalls Well-Known Member

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    :applause::no::no::no::no::applause:

    Perfect :)
     
  22. ButterBalls

    ButterBalls Well-Known Member

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    Its sort of like this for them :)
     
  23. HereWeGoAgain

    HereWeGoAgain Well-Known Member

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    Obama was handed an economy that was losing 600,000 jobs a month. He reduced unemployment from over 10%, to less than 4%. That is a 6% reduction. Trump had barely nudged the needle from what he was handed.

    Obama 6% improvement
    Trump 0.1% improvement
     
  24. Sandy Shanks

    Sandy Shanks Well-Known Member Past Donor

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    Tell me what Trump did beyond threatening our great economy with inflationary high tariffs and trade wars that also cause higher prices. Explain why he had to put farmers on welfare.

    The new tax law was written entirely by Congress. He just signed the bill. Reduced regulations just lessened paperwork, and has had no effect on employment, more of a con than anything else.

    So, tell me what Trump did.
     
  25. nopartisanbull

    nopartisanbull Well-Known Member

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    Why is there so much emphasis on the unemployment rate?

    Should we be debating about the EMPLOYMENT rate, thus, how many aged 16 and older are WORKING, versus how many are LOOKING for work/COLLECTING unemployment benefits?
     

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