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View Diary: An upbeat economic diary for Thanksgiving (74 comments)

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  •  You mean, the 1.1 private million jobs gained? (9+ / 0-)

    The economy up over 3%?

    Industrial production up strongly?

    Retail sales up strongly?

    Rail traffic up strongly?

    Air travel up strongly?

    Hotel usage up strongly?

    Sales tax receipts up strongly?

    You mean, THAT strong growth?  Why yes, that would be the growth you've seen this year.

    It would have been stronger had Congress not foolishly refused to re-up aid to the states in the summer.  State and local governments have laid off 300,000 people this year, and that has held down the total number of jobs added.

    "When the going gets tough, the tough get 'too big to fail'."

    by New Deal democrat on Wed Nov 24, 2010 at 07:58:10 AM PST

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    •  yup (0+ / 0-)

      1.1 million jobs created but we need how many each month just to deal with the new people entering the job market?

      Don't fight global warming. Iceberg water is going to make us all rich!

      by jbou on Wed Nov 24, 2010 at 08:02:59 AM PST

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      •  About the same. (5+ / 0-)

        The population grows by about 1% a year.  Private job growth this year has been about 1%.  It looks to me like it is about to pick up.

        The economy has been better than 2009 --  Just not good enough.  We need to see sustained GDP growth of 4% or 5%, and not 3%, to make a big dent in the unemployoment rate.

        "When the going gets tough, the tough get 'too big to fail'."

        by New Deal democrat on Wed Nov 24, 2010 at 08:06:24 AM PST

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        •  yes... (2+ / 0-)
          Recommended by:
          Fury, New Deal democrat

          the economy is better than it was in 2009, but 2009 really really really sucked and we have not yet begun to rehire a good chunk of people who were laid off between 2008 and 2009. So we are on the same page. The President and the Democrats failed to pass a big enough stimulus package to grow the economy at a proper rate?

          Don't fight global warming. Iceberg water is going to make us all rich!

          by jbou on Wed Nov 24, 2010 at 08:11:44 AM PST

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          •  Yes, we are on the same page. n/t (1+ / 0-)
            Recommended by:
            jbou

            "When the going gets tough, the tough get 'too big to fail'."

            by New Deal democrat on Wed Nov 24, 2010 at 08:13:29 AM PST

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            •  your optimism is well documented... (0+ / 0-)

              and it drives some folks nuts because the economy has not grown the way the optimists predicted. If the folks in the optimistic camp would just throw us realists a bone we would gladly work with your all and admit any growth is better than 2009 and we all need to push the Democrats to spend money and stop all this nonsense talk about deficits.

              Don't fight global warming. Iceberg water is going to make us all rich!

              by jbou on Wed Nov 24, 2010 at 08:20:34 AM PST

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              •  You are right about some things (3+ / 0-)
                Recommended by:
                lakehillsliberal, zbbrox, Deep Texan

                The summer slowdown really kicked the recovery in the TSA-gropable parts.  While a few things were foreseeable, a few (like the BP spill) weren't.

                Additionally, I think we all believed the Congress wouldn't really toss the states to the wolves, but they did.

                >>we all need to push the Democrats to spend money and stop all this nonsense talk about deficits.<<</p>

                Agreed.

                "When the going gets tough, the tough get 'too big to fail'."

                by New Deal democrat on Wed Nov 24, 2010 at 08:24:33 AM PST

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                •  and I am going to state it publicly (1+ / 0-)
                  Recommended by:
                  lilnev

                  Folks, New Deal Democrat may be a bit too optimistic, but he is in our camp and we need to not be so bitter and mean when engaging the folks who have been too optimistic. We all wanted jobs and strong economic growth and we didn't get it. We need to work on pushing the leaders in the right direction. Stop all the bitter told you so's and lets work on what we can do going forward.

                  Don't fight global warming. Iceberg water is going to make us all rich!

                  by jbou on Wed Nov 24, 2010 at 08:29:09 AM PST

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                  •  When was NDD (1+ / 0-)
                    Recommended by:
                    Deep Texan

                    too optimistic.  He has always said the recovery would be sluggish.  

                    The realists here - and I don't know who that is - have been flat wrong about most of what has happened over the last year.

                    The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

                    by fladem on Wed Nov 24, 2010 at 09:16:01 AM PST

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                    •  I wouldn't call them realists (1+ / 0-)
                      Recommended by:
                      New Deal democrat

                      That's an undeserved compliment.

                      I would call them pessimists.  

                      They may consider themselves "realists" but in my view they are cherry-picking pessimists.  

                      The economy is getting better.  Slowly.

                      Everyone, with the possible exception of the Republican Party leadership, wants it to get better more quickly. We can disagree about the means by which economic improvement may be accelerated, but to blindly ignore positive economic news -- even if it's only slightly positive -- is not "realism."

                      It's pessimism.

        •  And in Q2 and Q3 (3+ / 0-)
          Recommended by:
          Pozzo, Deep Texan, Marmaduke2

          we didn't get that growth because imports exploded.

          Globalization is the real issue here, and the one thing that may prevent job creation.

          But today's number is a good number.

          The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

          by fladem on Wed Nov 24, 2010 at 08:22:57 AM PST

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    •  and all those things that are up... (0+ / 0-)

      is a good thing, but the numbers were bound to go up because we were in such a sever downturn. What dot he numbers look like compared to when the economy was humming along? What is your plan to deal with the folks who have run out of unemployment and still don't have a job? What is the plan to deal with the fact that our economy may have permanently  contracted and needs more than just the Fed easing on the banks to see growth like we used to have?

      Don't fight global warming. Iceberg water is going to make us all rich!

      by jbou on Wed Nov 24, 2010 at 08:09:38 AM PST

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    •  3% (0+ / 0-)

      where do you get these bullshit numbers?

      http://www.bea.gov/...

      Lsst quarter 2.5% real gdp

      quarter before that 1.7%

      The child has grown, the dream is gone. I have become comfortably numb.

      by dark daze on Wed Nov 24, 2010 at 08:20:11 AM PST

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    •  What is the breakdown of those new jobs, (0+ / 0-)

      that is, what percentage would be waitress, healthcare, bartender. And as an aggregate, for the jobs they are replacing, are they paying 100% of what was replaced or 150%, or 60%.

      I know the figures for the Bush years were that almost 80% of his "new jobs" were in the bottom end of the earning range, so that it was a bunch of, say $12/hr jobs replacing $18/hr jobs.

      Though I'm sure people preferred the $12 to $0, the "new jobs" didn't really do a lot to lift people.

      Until we break the corporate virtual monopoly on what we hear and see, we keep losing, don't matter what we do.

      by Jim P on Wed Nov 24, 2010 at 08:39:22 AM PST

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