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View Diary: Initial applications for jobless compensation seem to be on a new plateau. But what does it mean? (49 comments)

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  •  Cyclical vs. long-term. Noise vs. signal. (2+ / 0-)
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    Eric Nelson, Meteor Blades

    Three things are happening.

    1. Ordinary business cycle boom and bust. The ordinary bust seems to be over. But it was especially bad this time because of...

    2. Financial system craziness enabled by deregulation. But that is essentially fixable or at least manageable, by better regulation. Very little sign that will actually happen, but it only requires reasonably smart policymakers. "Only!"

    3. Long-term trend is job loss and dropping wages due to offshoring & automation. I hope MB will forgive me for harping on this on his diaries, and posting this same damn link over and over again, but until our political systems address this the fundamental downward trend will continue: http://www.vanityfair.com/...

    "The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals." - Barack Obama

    by HeyMikey on Thu Sep 26, 2013 at 07:00:35 PM PDT

    [ Parent ]

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