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7M In U. S. Exhausted All Of Their Unemployment Benefits.

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http://globaleconomicanalysis.blogspot.com/2010/09/question-of-day-how-many-people-have.html

Implications and Analysis

The implication is at least 6,927,372 have exhausted all of their unemployment benefits.

Indeed, the number may be considerably higher because every first-time job seeker who found a covered job since the pool peak in 2008, displaced someone in the eligibility pool who exhausted all benefits.

All things considered, at least 7 million people exhausted all unemployment benefits with some unknown portion of them coping via an option to start collecting social security. Moreover, those prematurely opting for social security, did so with reduced benefits.

People are Broke, Congress Responds

With the exception of those opting for social security, some 7 million people who want jobs and once collected unemployment benefits, now have no job-related income.

Think those 7 million people are about to go on a spending spree? Think those forced into social security are about to go on a spending spree? Think the self-employed with no income are about to go on a spending spree? Think the 26 million unemployed or under-employed are about to go on a spending spree? Think the countless millions of working Americans barely scraping by are about to go on a spending spree?

Well, I don't either.

See link for charts and analysis.

Still I'm sure the US can create millions of low paid jobs for them to go on a credit spending spree........

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I think the only choice the US now has is to start a new Cold War with China - basically stop Chinese imports coming into the US thereby forcing the West to buy goods from the US/EU/Japan and Co.

Sad for Humanity but, in recent days, Andy Grove of Intel has called for trade barriers against China.

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I think the only choice the US now has is to start a new Cold War with China - basically stop Chinese imports coming into the US thereby forcing the West to buy goods from the US/EU/Japan and Co.

Sad for Humanity but, in recent days, Andy Grove of Intel has called for trade barriers against China.

Hold on, doesn't everything from Nike, Apple, etc etc all come from China?

Also, no need to worry about the unemployed people. Bernanke has a printing press which he is making good use of.

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Hold on, doesn't everything from Nike, Apple, etc etc all come from China?

Yes, but where did all the Nike, Apple, etc stuff come from before China...? Answer: it came from factories in the U.S. There is nothing magical about China, except the large number of people which = low wages.

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A trade war is sorely needed. The current setup where we borrow from them to consume what they produce - it's not healthy. Numbnuts will declare this will cause a Depression. Nope - it was the global credit bubble wot caused that. Same as last time. The free trade nuts are just as deluded as the keynesian nutjobs

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Yes, but where did all the Nike, Apple, etc stuff come from before China...? Answer: it came from factories in the U.S. There is nothing magical about China, except the large number of people which = low wages.

Was lookin at replacement hammer to knock in those devlish iron things - became aware that USA company 'Eastwing' tools now all "Made in Taiwan"

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This is a huge blow to the personal and collective confidence of America.

Hitherto they accepted poor social security arrangements because from 1942 on there were jobs to be had for the asking.

If not, you went to California or simply waited for the next, certain, rebound.

It is different this time for even if consumers start spending again it will only generate jobs in China.

Meanwhile China is buying up commodities.

To win a second term, Obama will have to start a Trade War soon.

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A trade war is sorely needed. The current setup where we borrow from them to consume what they produce - it's not healthy. Numbnuts will declare this will cause a Depression. Nope - it was the global credit bubble wot caused that. Same as last time. The free trade nuts are just as deluded as the keynesian nutjobs

...good point ....let's have level playing fields ...as well as undervalued currencies there should be import duties on all companies / manufacturers / exporters in these countries using child labour to keep costs low ....seems fair trade to me.... :rolleyes:

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Free trade is a good thing in a world where capital controls exist. Then Ricardo's notion of comparative advantage can help the global economy to flourish. But with free movement of capital around the planet, comparative is replaced by absolute advantage and wages get chased to the bottom as the working and middle classes get squeezed.

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This is a huge blow to the personal and collective confidence of America.

Hitherto they accepted poor social security arrangements because from 1942 on there were jobs to be had for the asking.

If not, you went to California or simply waited for the next, certain, rebound.

It is different this time for even if consumers start spending again it will only generate jobs in China.

Meanwhile China is buying up commodities.

To win a second term, Obama will have to start a Trade War soon.

Can't you hear the tank engines already revving on the border:

From the front page

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A trade war is sorely needed. The current setup where we borrow from them to consume what they produce - it's not healthy. Numbnuts will declare this will cause a Depression. Nope - it was the global credit bubble wot caused that. Same as last time. The free trade nuts are just as deluded as the keynesian nutjobs

Generally they seem to be one and the same, in fact running debt to the limits, blowing out your own economy and destoying your own poductive capacity is a great driver for pushing jobs, investment and trade abroad.

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..........................

To win a second term, Obama will have to start a Trade War soon.

Check.

e.g.

http://www.rightsidenews.com/2010092511743/us/politics-and-economics/is-a-flat-tariff-the-answer-to-americas-trade-mess.html

that's a kinda redneck take on it, but there are so called "liberal" web pages out there !

"Foundations set for pro-tect-ion-ism Mr President sir" !!!!:unsure:

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Check.

e.g.

http://www.rightsidenews.com/2010092511743/us/politics-and-economics/is-a-flat-tariff-the-answer-to-americas-trade-mess.html

that's a kinda redneck take on it, but there are so called "liberal" web pages out there !

"Foundations set for pro-tect-ion-ism Mr President sir" !!!!:unsure:

...some Liberal ...he wrote the book "Free Trade Doesn’t Work: What Should Replace It and Why" ..... :rolleyes:

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...some Liberal ...he wrote the book "Free Trade Doesn’t Work: What Should Replace It and Why" ..... :rolleyes:

And it's a great book, very well argued.

Read it, apply a bit of thought and you will see how badly screwed the current globalised economic system is.

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And it's a great book, very well argued.

Read it, apply a bit of thought and you will see how badly screwed the current globalised economic system is.

...think we were agreed the current system is not fair with deliberate weak currencies to child and possibly slave labour in the production of exports by those not playing by the rules of a free market ....the title alone points to a more enlightened and less naive approach....will check the library ..... :rolleyes:

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Yes, but where did all the Nike, Apple, etc stuff come from before China...? Answer: it came from factories in the U.S. There is nothing magical about China, except the large number of people which = low wages.

What exactly did Sir James Goldsmith say publicly about what would happen?

Ah yes, exactly what has happened.

Tighten your belts everyone - the middle classes in the West are about to be wiped out completely.

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Free trade is a good thing in a world where capital controls exist. Then Ricardo's notion of comparative advantage can help the global economy to flourish. But with free movement of capital around the planet, comparative is replaced by absolute advantage and wages get chased to the bottom as the working and middle classes get squeezed.

You have defined in a paragraph what seems to have eluded a generation of economists- odd that.

Who was it who said that it's very hard to get someone to understand something when their income depends on not understanding it?

I guess being funded by people who gain from the 'free trade' paradigm makes it real easy to see the benefits of it. :lol:

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I think the only choice the US now has is to start a new Cold War with China - basically stop Chinese imports coming into the US thereby forcing the West to buy goods from the US/EU/Japan and Co.

Sad for Humanity but, in recent days, Andy Grove of Intel has called for trade barriers against China.

Why would giving these people gainful employment at the 'expense' of Chinese slave labour be sad for humanity?

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Why would giving these people gainful employment at the 'expense' of Chinese slave labour be sad for humanity?

...slave and child labour in many countries emphasises fair trade is a dream which does not exist ....time for Britain to get a grip and raise tariffs and in need ban affected imports .....get real....this is not a game of cricket .... :rolleyes:

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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