Discussion in 'Economics' started by hippie, Nov 2, 2010.
This is why Bernanke said: "dropping money out of helicopters"
He knew official places to get benefits would be blocked by armed troops.
This is the beginning of the end.
Neither the unemployed nor the bureaucracy have faced up to the essence of this problem.
1. Globalization has forced American workers to compete with foreign labor rates.
2. Globalization has taken jobs away from American which will NEVER return.
Extending UE benefits 'TILL HELL FREEZES OVER won't fix things.
Very true. Any suggestions for our politicians on what to do?
What are they going to read this internet page to get your advice.
Then again who knows
So what do think about forced Yuan revaluation or tariffs, curious?
This is nothing but hype, so they add some armed guards, big deal. The economy is still moving along, a few thousand people in Indiana not getting their extended unemployment benefits isn't going to hurt the US gdp. Looks like it was a slow news day so they had to come up with something interesting.
Correct, a few people in Indiana not getting bennies will not affect GDP but 15+ million from coast to coast getting cut off will. It's just a matter of time before the majority who go on unemployment will reach 99 weeks. If and when they reach that point the additional vacant homes in the hands of BAC is sure to hurt GDP, assuming they haven't defaulted already. Throw all these folks on food stamps and the situation gets worse and worse and worse. Indefinite extensions aren't the answer but temporary extensions may be the lesser of two evils.
There are two primary reasons why we aren't in the midst of The Great Depression II -- FDIC insurance and unemployment bennies. Take those two things away -- especially FDIC -- and the entire country would have collapsed. Take UI away and it's going to get pretty painful.
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