Obamanomics

[GG]

Also, is there a book/article/wiki/youtube video/informational pamphlet you'd recommend that breaks down the old supply side/keynesian debate? This discussion comes up here pretty regularly and always interests me, but I'm not sure I've got the lexicon and background to participate at this point.

 

*I might be making things up.

 

Use the search function on this forum.

[TPS]

 

 

Use the search function on this forum.

i think he wants something NOT from PPP. Unless you want to argue about that?

Try this J: http://people.stern.nyu.edu/nroubini/SUPPLY.HTM

From dr. Dooms teaching web site. Includes links to both sides for further reading.

[Jauronimo]

i think he wants something NOT from PPP. Unless you want to argue about that?

Try this J: http://people.stern....bini/SUPPLY.HTM

From dr. Dooms teaching web site. Includes links to both sides for further reading.

Precisely. As much as I enjoy the banter here at PPP, I'd prefer to read a focused and concise summary of the assumptions, strengths and weaknesses of the supply side and keynesian models rather than try to sift through any of the colorful past threads.

[GG]

Precisely. As much as I enjoy the banter here at PPP, I'd prefer to read a focused and concise summary of the assumptions, strengths and weaknesses of the supply side and keynesian models rather than try to sift through any of the colorful past threads.

 

It's the cliff notes. With the biggest difference being that on here you would see real life examples by people who create and use the capital vs using backwards looking data to support a thesis.

[TPS]

It's the cliff notes. With the biggest difference being that on here you would see real life examples by people who create and use the capital vs using backwards looking data to support a thesis.

I always get a kick out of conservative arguments that are impossible to verify with data.

[OCinBuffalo]

That is precisely how tax (and spending) policy should be configured--taxes should decline when we're at less than full employment and rise when inflation increases beyond what's deemed generally acceptable (and not just by finance... ;-)

100% agree. I believe I'd pay for this to be etched in marble and planted in the middle of the House floor. With an appropriate , of course.

Is there any consideration given to the millions that have given up looking for work and aren't considered in the unemployed figures anymore?

No. !@#$ 'em.

Not so fast Tom. Don't forget, this can be used to create yet another "progressive" $1 Trillion boondoggle. These people are the best at using the consequences of their stupidity as a pretext for more of it. (I suppose rather than "recycling", "investing"? The word "sustainable" has to be part of it too, somewhere)

I always get a kick out of conservative arguments that are impossible to verify with data.

OBAMACARE!

 

See? The theory now becomes practice. Any time you want to talk in terms of "arguments"? I will say BAMACARE, and that gets you 2 strikes automatically.

[Tiberius]

Good news!!

 

http://online.wsj.com/news/articles/SB10001424052702304866904579265963142745166

 

WASHINGTON-New-home construction surged in November to its highest level in nearly six years, the latest sign of renewed momentum in the sector's recovery.

U.S. housing starts rose 22.7% from October to a seasonally adjusted annual rate of 1,091,000, the Commerce Department said Wednesday. That was higher than the 952,000 forecast by economists and brought the average pace of starts for the last three months to 951,000.

Details of the report showed underlying strength in the sector in November. The sharp rise in home starts was primarily driven by a 21% jump in single-family homes, a bigger and more stable segment of the market.

 

[IDBillzFan]

Good news!!

 

http://online.wsj.co...265963142745166

 

Woops. Bad news....again.

 

 

Home resales hit a near one-year low in November and new filings for unemployment benefits unexpectedly rose last week, putting a wrinkle in an otherwise brightening economic picture.

 

The National Association of Realtors said on Thursday sales of previously owned homes fell 4.3 percent last month to an annual rate of 4.90 million units. That was the lowest since December last year and was the third monthly fall in a row.

 

In a separate report, the Labor Department said initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 379,000, the highest level since March.

[IDBillzFan]

Paul Krugman explains how progressives have no idea how the world works.

 

You see, it's not a question of having value that an employer needs. The employers have the power, and you're a powerless toadie, and if you don't get your unemployment bennies, you lose even more power and employers will rule the world and piss you aside.

[Azalin]

"... reflecting the weakness and inadequacy of our economic recovery. "

 

 

I guess Krugman has a low opinion of Obama's economic policies.

[Koko78]

"... reflecting the weakness and inadequacy of our economic recovery. "

 

 

I guess Krugman has a low opinion of Obama's economic policies.

 

Nonsense, Bush did it.

[Azalin]

 

 

Nonsense, Bush did it.

that's right.....I keep forgetting. thanks for straightening me out.

[B-Man]

As Rich And Poor Take Their Slices, Who Will Stand Up For The Middle Class?

by Victor Davis Hanson

 

On almost every left-right issue that divides Democrats and Republicans — as well as Republicans themselves — there is a neglected populist constituency.

 

The result is that populist politics are largely caricatured as Tea Party extremism — and a voice for the middle class is largely absent.

 

The problem with ObamaCare is that its well-connected and influential supporters — pet businesses, unions and congressional insiders — have already won exemption from it.

 

The rich will always have their concierge doctors and Cadillac health plans. The poor can usually find low-cost care through Medicaid, federal clinics and emergency rooms.

 

In contrast, those who have lost their preferred individual plans, or will pay higher premiums and deductibles, are largely members of the self-employed middle class. They are too poor to have their own exclusive health care coverage but too wealthy for most government subsidies. So far, ObamaCare is falling hardest on the middle class.

 

{snip}

 

The real losers are frugal members of the middle class. For the last five years they have received almost no interest on their modest passbook savings accounts. In other words, we are punishing thrift and reminding modest savers that they might have been better off either borrowing or gambling on Wall Street.

 

In the last election, Republican Mitt Romney was caricatured as a voice of the wealthy pitted against Barack Obama, a redistributionist railing for more subsidies for the poor.

 

But millions of Americans in between are not so worried about capital gains cuts on stock sales, or more food stamps and free phones. And no one in Washington seems to be listening to them.

http://news.investors.com/ibd-editorials-viewpoint/122713-684394-the-middle-classes-are-ignored-by-the-right-and-left-alike.htm#ixzz2omkEdgcY

[B-Man]

New York Times:

Economists expect that the end of the emergency jobless benefits will, surprisingly, lead to a sharp drop in the unemployment rate, by as much as 0.5 percentage points.

 

 

Surprisingly ? ? ?

 

Really ?

 

.

[DC Tom]

Surprisingly ? ? ?

 

Really ?

 

.

 

 

Since her federal benefits expired, Jamie Young, a library scientist living in Portland, Ore., has accepted a part-time job, taking a large reduction in her income. “It’s embarrassing for me,” she said. “I dread going to parties or social functions and having people ask me what I do.”

 

I would think a "library scientist" would have a high threshold when it comes to employment embarrassment.

[Koko78]

I would think a "library scientist" would have a high threshold when it comes to employment embarrassment.

 

I can imagine her pain. Going from "library scientist" to "fryolator engineer" is a half-step down.

[Koko78]

Greg and Barbara Chastain of Huntington Beach, Calif., put their two teenagers on the school lunch program and cut back on dining out after losing their T-shirt company in June following a dispute with an investor.

 

They've exhausted their state unemployment benefits and now that the federal extensions are gone, unless they find jobs the couple plan to take their children out of their high school in January and relocate 50 miles east where a relative owns property so they can save on rent.

 

"We could let one of our cars go, but then you can't get to work — it's a never-ending cycle," 43-year-old Greg Chastain said while accompanying his wife to an Orange County employment center. He said they eventually may try their luck in a less expensive state like Arizona or Texas if he can land a manufacturing job there.

http://news.yahoo.com/high-stakes-us-families-losing-jobless-benefit-160146951.html

 

So let me get this straight, they "lost" their business because they pissed off a single investor (which, to me, shows that they aren't smart enough to run a business). In response they went straight to "cutting back" on luxuries they could no longer afford instead of eliminating them, and only now that they will no longer get unemployment benefits and actually have to look for work they are going to pull their children out of school (because that's not at all disruptive) and refuse to get rid of "one" of their cars (because apparently they need more than one vehicle to look for work).

 

These useless entitled wastes of oxygen deserve what they get. Why the !@#$ did they not move months ago (you know, before their kids got halfway through the school year) if they knew they weren't going to be able to afford their rent? Why did they continue to go out to eat knowing that they could not afford it? Why did they need multiple vehicles if neither one is working and they knew they could not afford two or more cars?

 

Most importantly, why am I supposed to feel sorry for them after their immense stupidity?

[IDBillzFan]

I would think a "library scientist" would have a high threshold when it comes to employment embarrassment.

 

I think, to progressives, adding "scientist" to your title makes things seem really good.

 

Kinda like wrapping something in bacon.

[Koko78]

I think, to progressives, adding "scientist" to your title makes things seem really good.

 

Kinda like wrapping something in bacon.

 

Bacon scientist....

 

[IDBillzFan]

So I've never had a good memory, and want to ask a question of those here who seem to remember everything.

 

Less than 63% of the US participates in the labor market, only 70,000 jobs get added in December, and the unemployment rate plummets to 6.7%.

 

This isn't a question of the WH playing with the numbers -- they all play with numbers. I don't ever recall such bad news reflecting in such a good number, so I would like to ask those of you with good memories: you all: Do you recall a time in recent history when so many people were leaving the workforce to the extent that it drops the unemployment rate this dramatically on a regular basis?

 

The big drop.

Edited January 10, 2014 by LABillzFan