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View Diary: the new outsourcing; why the jobs are NEVER coming back. (316 comments)

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  •  Except that 3% unemployment used to be the norm (7+ / 0-)

    And now we're (or at least the FED is) thinking that 7% unemployment is okay enough. They said the economy was showing signs of sustained strength. (I bet they would not say that if they weren't all sitting around with great, fat wallets.)

    The acceptable level of unemployment edges higher and higher.

    We've been having "jobless recoveries" for decades now.

    To some extent, it's structural and will only become more so.

    As far the the owners of capital are concerned, there's at least 10-20% of the population that's "superfluous" -- or not needed in order to produce all the goods and services that the population requires/demands. I don't see that changing, absent some kind of population fall off, which I would not wish for on general ethical principles.

    Women do 2/3 of the world's work, receive 10% of the world's income and own 1% of the means of production.

    by LibrErica on Thu Jan 09, 2014 at 10:52:18 AM PST

    [ Parent ]

    •  The structural problems in our economy are worse (10+ / 0-)

      than I stated above.

      In addition to automation making people more and more obsolete, (diminishing peoples' ability to earn a basic living) we've also converted away from making things and we have this enormous sector of the economy (Finance) that makes money by gambling and arbitrage and actually sucks money OUT of the real economy.

      The only solution to that aspect of it is to re-regulate the finance industry (which we would already have done if they didn't own our government) and imo, outlaw high speed trading.

      Women do 2/3 of the world's work, receive 10% of the world's income and own 1% of the means of production.

      by LibrErica on Thu Jan 09, 2014 at 10:57:23 AM PST

      [ Parent ]

      •  The problem with regulating is (3+ / 0-)
        Recommended by:
        joegoldstein, AoT, mike101

        that the capitalists just buy the regulators and the regulations.

        The economy is doing just fine for the capitalists. What we need to do is restructure the economy so that it does fine for people. I can promise you that as long as the capitalists are in control, that won't happen.

        If you don't like the word "capitalist", replace it with "the 1%".

        We cannot win a war crime - Dancewater, July 27, 2008

        by unclejohn on Thu Jan 09, 2014 at 02:47:39 PM PST

        [ Parent ]

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