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View Diary: NELP: 1.5 Million to Exhaust Unemployment by December. (32 comments)

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    •  You said it.... (8+ / 0-)

      so I didn't have to :-)

      Unemployment is inherent in the capitalist system.

      They tortured people To get false confessions To fraudulently justify Invasion of Iraq!

      by Immigrant Punk on Mon Jul 20, 2009 at 03:50:33 AM PDT

      [ Parent ]

    •  Funny how the Green Shoots crowd ignores (3+ / 0-)
      Recommended by:
      kurt, TheFatLadySings, Egalitare

      the falling disposable income stats. Less money to spend, thus less buying, thus less need to produce goods then more layoffs. Not a spiral in the right direction, IMO.

      Q: What do you call 500 Congress-slugs at the bottom of the ocean? A: Divine intervention. (with apologies to the couple dozen honest ones.)

      by CitizenOfEarth on Mon Jul 20, 2009 at 07:08:21 AM PDT

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      •  Yes (7+ / 0-)

        and they're shitty when people present them with the facts to boot.

        Not a good combination.

        We've reached the point at which real change will only come through massive social upheaval.  Which is a damn shame, because it doesn't have to be this way.

        http://www.economicpopulist.org

        by ManfromMiddletown on Mon Jul 20, 2009 at 07:12:45 AM PDT

        [ Parent ]

      •  Its more like scorched earth ... (5+ / 0-)

        ... the "green shoots" are indications that the recession is bottoming out.

        The assumption behind the New Keynesian and other "top notch" approaches is that in the "long run"{*} the economy automatically slides toward full employment. The special twist to the New Keynesians is that in the "short run"{*} the economy can be a far way out of full employment, and the "short run"{*} can be a fairly long period of time.

        But in the actual Keynesian argument, long neglected in the "top notch" approaches, there is no "long run" for the macroeconomy, not automatic sliding to full employment, and every possibility of the end of the downturn to be followed by a long period of economic stagnation ... if we don't do anything about it.

        As the Japanese learned in the 1990's, and as the long spells of "jobless recovery" following the last two US recessions should have taught us, the end of a recession does not automatically mean a robust recovery.

        That was back in the 50's and 60's, when our recessions were the result of imbalances in a process of strong income growth. Which is the kind of economic growth we have to find our way back to, if we want to avoid a "lost decade" of our own.

        {* 'runs' in scare quotes because they are fictions rather than empirical realities.}

        Progressive Economics Shortcut: just read the billy blog

        by BruceMcF on Mon Jul 20, 2009 at 07:28:30 AM PDT

        [ Parent ]

        •  Yeah, well there's that (0+ / 0-)

          and the fact that our collective financial futures depend on the benevolence of Goldman Sux.

          In which case we are screwed.

          Q: What do you call 500 Congress-slugs at the bottom of the ocean? A: Divine intervention. (with apologies to the couple dozen honest ones.)

          by CitizenOfEarth on Mon Jul 20, 2009 at 07:40:34 AM PDT

          [ Parent ]

          •  Rather, that too many of the 'best and brighest' (3+ / 0-)

            ... believe that our collective financial futures depend on maintaining Goldman Sachs et al. in the lifestyles to which they have become accustomed.

            In reality, if we were to crack the corporate majority in Congress so that we could pursue a Brawny Recovery, one side-effect of that income growth would be to allow the parts of the finance sector that provide actual useful services to Main Street to repair their balance sheets.

            And we could afford to allow the Goldman Sachs of the world to go bankrupt and get their own strong taste of their old "restructuring" medicine.

            Progressive Economics Shortcut: just read the billy blog

            by BruceMcF on Mon Jul 20, 2009 at 07:45:28 AM PDT

            [ Parent ]

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