Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues III

[Destructus86]

So...how do they figure if less people are filing for unemployment that means the job market is going better?

Seems to me like most people I've talked to ran out of unemployment and saw no more reason to keep applying for it.

 

[CConn]

You know that many people who've been on unemployment for over 99 weeks?

 

[Destructus86]

You know that many people who've been on unemployment for over 99 weeks?

Yup, I actually do. And they job hunt every single day.

 

[CConn]

Where do you live?

The only people I know on unemployment are there because its actually more lucrative than getting a new job.

 

[enterthemadness]

While it's down, not all is good.

http://www.philly.com/philly/business/20130308_U_S__unemployment_rate_falls_to_7_7_percent.html

Unemployment rate goes down from 7.9% to 7.7%.

But amid the positive numbers were some disturbing trends. The size of the labor force declined, even as the working-age population grew, perhaps signaling underlying uneasiness with the job market.
The median length of unemployment - meaning the time it takes the majority of people to find jobs - increased dramatically from 16 weeks to 17.8 weeks over the month, even though it is down from the 20.1-week median of February 2012.
Also lengthening is the average amount of time that people are unemployed - a statistic affected by the number of long-term unemployed. The average length of unemployment is now 36.9 weeks, up from 35.3 in February, but down from 39.9 a year ago.
"The long-term unemployed are being discriminated against," said James John, chief operating officer of King of Prussia-based Beyond.com, an operator of hundreds of job boards in various industries and regions.

 

[Kelly]

While it's down, not all is good.

http://www.philly.com/philly/business/20130308_U_S__unemployment_rate_falls_to_7_7_percent.html

Unemployment rate goes down from 7.9% to 7.7%.

Since they cannot calculate in those that have given up, retired before they were supposed to, teachers, church workers, other government employees, as well as those working in jobs far below their education simply to have a job?????? that number up there means absolutely nothing.

 

[enterthemadness]

Since they cannot calculate in those that have given up, retired before they were supposed to, teachers, church workers, other government employees, as well as those working in jobs far below their education simply to have a job?????? that number up there means absolutely nothing.

Unofficial is or was 14.5% in Jan or Dec. Soooo...

 

[Kelly]

Unofficial is or was 14.5% in Jan or Dec. Soooo...

Nah, I believe its more around 17%....that 14% doesn't include those, like teachers, that are laid off, but do not receive unemployment in any form....

 

[wiegeabo]

Where do all the entrepreneurs comes from in a down economy? Well, here's one answer. They're sometimes people who are so fed up with not being able to find a job, that they create one for themselves.

By spawning astonishing 50 percent youth unemployment, Spain's crushing crisis appears to be starting to force ingenuity, innovation and creativity among young professionals who are taking risks and bucking the pattern of seeking security under the umbrella of an established business. That means embracing a more American-style entrepreneurial spirit _ breathing a new spirit into the workforce of a country where "making it" typically meant a good, stable job with a blue chip company or in the family business.

http://bigstory.ap.org/article/class-2012-young-spaniards-launch-startups


This is why it's so important to minimize regulations and taxes for startups and small companies. It's ok to not get revenue (taxes) if it means you can cut spending (unemployment) and get people back to work.

 

[Kelly]

Where do all the entrepreneurs comes from in a down economy? Well, here's one answer. They're sometimes people who are so fed up with not being able to find a job, that they create one for themselves.

http://bigstory.ap.org/article/class-2012-young-spaniards-launch-startups


This is why it's so important to minimize regulations and taxes for startups and small companies. It's ok to not get revenue (taxes) if it means you can cut spending (unemployment) and get people back to work.

The same thing happened after the Bubonic Plague....

 

[wiegeabo]

wha...?

 

[enterthemadness]

The same thing happened after the Bubonic Plague....

Lots of people dead = job openings. Boom to the middle ages job market. Those rats.

 

[Kelly]

wha...?

lol.....there was alot of new innovations, new ideas, etc....AFTER the Bubonic Plague...

 

[wiegeabo]

well, necessity is the mother of invention...

and competition drive necessity...

 

[MrMonk]

http://www.cbo.gov/publication/43907
The Budget and Economic Outlook: Fiscal Years 2013 to 2023


report
february 5, 2013
read complete document (pdf, 846 kb)
Economic growth will remain slow this year, CBO anticipates, as gradual improvement in many of the forces that drive the economy is offset by the effects of budgetary changes that are scheduled to occur under current law. After this year, economic growth will speed up, CBO projects, causing the unemployment rate to decline and inflation and interest rates to eventually rise from their current low levels. Nevertheless, the unemployment rate is expected to remain above 7½ percent through next year; if that happens, 2014 will be the sixth consecutive year with unemployment exceeding 7½ percent of the labor force—the longest such period in the past 70 years.

If the current laws that govern federal taxes and spending do not change, the budget deficit will shrink this year to $845 billion, or 5.3 percent of gross domestic product (GDP), its smallest size since 2008. In CBO’s baseline projections, deficits continue to shrink over the next few years, falling to 2.4 percent of GDP by 2015. Deficits are projected to increase later in the coming decade, however, because of the pressures of an aging population, rising health care costs, an expansion of federal subsidies for health insurance, and growing interest payments on federal debt. As a result, federal debt held by the public is projected to remain historically high relative to the size of the economy for the next decade. By 2023, if current laws remain in place, debt will equal 77 percent of GDP and be on an upward path, CBO projects (see figure below).

 

[Kelly]

well, necessity is the mother of invention...

and competition drive necessity...

And questioning the government/church/whatever is in power at the moment...

I think we dearly need to be doing a lot of questioning of our government at the moment....and I mean LOUD QUESTIONS....because the media is not doing its job at all.

 

[enterthemadness]

Costco CEO wants the min wage to go up to $10.10 an hour Federally.


http://www.huffingtonpost.com/2013/...ig-jelinek_n_2818060.html?utm_hp_ref=business


Yeah, double dip right there....

 

[wiegeabo]

Costco CEO wants the min wage to go up to $10.10 an hour Federally.


http://www.huffingtonpost.com/2013/...ig-jelinek_n_2818060.html?utm_hp_ref=business


Yeah, double dip right there....

" I felt a great disturbance in the Economy, as if millions of small business suddenly cried out in terror and were suddenly silenced. I fear something terrible has happened."

 

[enterthemadness]

" I felt a great disturbance in the Economy, as if millions of small business suddenly cried out in terror and were suddenly silenced. I fear something terrible has happened."

Min wage: I need to be increased...I am your Father.

Economy: Nooooooooooooooooooooooooooooooooooooo

 

[enterthemadness]

There is a saying that Good triumphs over Evil. Or Karma is a *****. Well..


http://money.msn.com/now/post.aspx?post=482ad53f-46bb-4b0e-9a19-97a6cf7c99fc


Walmart shows signs of self-destructing.

Here in Havelock, most of the time I go window shopping at the dvd aisle....they don't have all the new releases. Just a few or more empty rack base.

I had to order the new Van Damme movie months ago when it came out in 2012...on Amazon instead of buying it in person. Got another Van Damme movie with it. Forget the name, Assassin something. Decent, has Scott Adkins in it and that weird color yellowish look to it.

But yeah, they got it in for 5 bucks recently lol.

 

[wiegeabo]

There are only so much costs you can cut out before there's nothing left to cut. It's the main way Wal-Mart has been functioning, and I'm not sure why investors hadn't realized this was coming (probably too busy counting their money).

Basically, Wal-Mart has finally reached the point where it can't cut employee pay/hours anymore. In fact, it passed that point, so now the supply/demand equilibrium is above what they are spending, hence a shortage.

So, Wal-Mart has a choice. Increase costs by hiring/paying more. Or continue to lose potential sales.

But they won't self destruct. They'll eventually cave in and start spending. And then they'll be able to play it up for PR when the press starts reporting that Wal-Mart is hiring in a down economy.


In the meantime, it's a good opportunity for other retailers to exploit this weakness.

 

[moviedoors]

Walmart shows signs of self-destructing.

Hallelujah!

 

[enterthemadness]

Peter Schiff, huh?


http://ivn.us/2012/10/28/peter-schi...is-forecasts-the-worst-to-come-around-2013-2/

So, him and Ron Paul predicted a crisis...

And he is saying this year or next it all goes up in smoke.

Well, that fits my ''before 2030'' stance I've been saying for a year or two now...

 

[mikey1974]

good.

I'll give you a perfect example - my Wal-Mart rarely puts out new DVD or Blu releases on the release date. hell, WM has a WrestleMania promo going on right now where they have a ton of disks for cheap to tie into the WWE event next weekend. this promo has been going on for nearly a month now at stores all over America. except,of course,mine, or any within 45 miles of me,that have not put any of this stuff out. Oh! and they did the same thing last year for that WrestleMania promo as well! guess that means more money that I WOULD spend at their store stays in my pocket.

 

[Kelly]

good.

I'll give you a perfect example - my Wal-Mart rarely puts out new DVD or Blu releases on the release date. hell, WM has a WrestleMania promo going on right now where they have a ton of disks for cheap to tie into the WWE event next weekend. this promo has been going on for nearly a month now at stores all over America. except,of course,mine, or any within 45 miles of me,that have not put any of this stuff out. Oh! and they did the same thing last year for that WrestleMania promo as well! guess that means more money that I WOULD spend at their store stays in my pocket.

Then apparently, they make more money on the WrestleMania stuff than they do on a new DVD or Blu ray release on the release date....so what? they are in the business to make money....that is what they are supposed to do.

I think that they have simply done what Starbucks did a while back....they over built and they are now paying for it......they will do what Starbucks did, what any good business would do....look at the stores that are making the most and cut those that are not...and they will come out just fine.