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(Duluth News Tribune)   Economists are puzzled about why the economy is recovering with no new jobs   (duluthsuperior.com) divider line 260
    More: Obvious  
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9666 clicks; posted to Main » on 07 Jan 2004 at 9:35 PM (11 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



260 Comments   (+0 »)
   

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2004-01-07 06:12:43 PM  
My guess without reading the article is companies became more productive. The work of laid off people was done by those who left. Companies can also replace people with technology which is common during recessions and reorganizing
 
2004-01-07 06:27:52 PM  
That's wrong. There are new jobs...


IN ASIA!
 
2004-01-07 06:42:29 PM  
might it have to do with the immense defense spending??
 
2004-01-07 07:44:33 PM  
hmmm. maybe because all the president's people can creatively use statistics to make things appear rosier than they are? and a few years from now the truth will come out and everyone will be STUNNED.
 
2004-01-07 08:03:39 PM  
This interview sounds a bit dated. He makes several references to "last quarter," which sounds like he's talkinb about the third quarter. The fourth quarter has seen jobs created in October and November. They were modest gains, but definite improvements in the labor market. Hopefully, Friday's job report will be more along the lines of what we'd expect to see in a strong economy.

2004-01-07 07:44:33 PM batchild
hmmm. maybe because all the president's people can creatively use statistics to make things appear rosier than they are?


Oh sweet! A conspiracy involving the government, foreign governments, domestic economists, foreign economists, and the entire U.S. population. That one's going to be tough to beat, batchild.
 
2004-01-07 08:56:43 PM  
I'd love to know. I hear that the economy is up, jobs are happening everywhere, yet I'm still on unemployment because of being laid off from a company with shrinking profits due to the lack of energy in the economy.

/draws a breath

I wish like hell I could find some work.
 
2004-01-07 09:37:53 PM  
did somebody say...

ELECTION YEAR

?
 
2004-01-07 09:38:46 PM  
Wow, that IS obvious.
 
2004-01-07 09:38:48 PM  
its trickle down profits! You cut taxes to corporations they in turn post profits and dont hire anyone. This isnt rocket science people.. its reaganomics.
 
2004-01-07 09:40:56 PM  
I blame the French
 
2004-01-07 09:41:08 PM  
There are new jobs.. just not in America.
 
2004-01-07 09:42:19 PM  
I think 95% of Americans are puzzled. The other 5% are immensely wealthy and thanks to the tax breaks and outsourcing of jobs "their" economy has boomed.

Face it. The American Dream is over. Unless, of course, you've got at least a million in the bank...then keep on dreaming by all means.
 
2004-01-07 09:43:44 PM  
HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA
 
2004-01-07 09:44:31 PM  
What some are forgetting is seasonal spending increased with all of the holidays towards the end of the year. And if people don't have jobs, it's important not to look only at consumer spending but that in combination with consumer debt.

In other words, people are racking up some serious credit card debt and the economy is "recovering."
 
2004-01-07 09:44:33 PM  
batchild

hmmm. maybe because all the president's people can creatively use statistics to make things appear rosier than they are? and a few years from now the truth will come out and everyone will be STUNNED.


The DJIA is up, but the Nasdaq and S&P 500 are still only about 2/3 of what they were when Bush II became President.

You COULD possibly do a short term manipulation of the Dow by investing several hundred million, but it seems unlikely.
 
2004-01-07 09:44:37 PM  
Where the hell is duluth?
 
2004-01-07 09:44:50 PM  
We always hear about companies laying off people during hard times, cutting wages for the lower echelon of the workforce, etc..

My question is: Do companies EVER cut the enormous salaries of the upper echelon?
 
2004-01-07 09:45:14 PM  
FLAME WAR TO ENSUE!!!
 
2004-01-07 09:45:20 PM  
Here's the reasons

1. Record consumer debt

2 Massive defecit spending

3. Tax cuts for wealthy

Unfortunatly the bill will come due
 
2004-01-07 09:45:34 PM  
I love people that live in the vacuum of Universities and Colleges. Many if not most, economists, sociologists and the like spend their entire lives searching out new grant money to get new tires on their old beat up MG or a new tweed jacket for lecture hall. The world doesn't exist in a vacuum, and economies across the globe are intertwined to a level never before seen in history. Taking one country and breaking down stats out of context is worthless.
 
2004-01-07 09:45:57 PM  
Because Bush=Hitler!!

/sarcasm
 
2004-01-07 09:45:57 PM  
I see plenty of "Now Hiring" signs in Northern Virginia. Didn't take me long to find a job.
 
2004-01-07 09:46:41 PM  
whew... thank god we're not losing the hamburger-flipping jobs.
 
2004-01-07 09:46:47 PM  
There are some very interesting things happening in the world economy right now. Several people have said there are jobs -- overseas.

Well, one interesting thing is that while the US has had a major decline in manufacturing jobs -- so have most of the rest of the world. And not just Western nations -- China, India, Japan, S. Korea, they have all experience declines in manufacturing jobs over the last years.

So all of our American factory jobs have not gone overseas, at least not exclusively. Some of them have simply disappeared.
 
2004-01-07 09:46:48 PM  
There was a surprising fall in several key market indicators this week. Factory orders and consumer confidence, I think. Could be that the latest round of tax cuts failed to kick start the economy after all.

Thankfully, I'm in Academia now. :)
 
2004-01-07 09:47:06 PM  
Which economists are stumped? There has been a massive fiscal and monetary stimulus applied into an economy suffering from over capacity. Basic econ would suggest a short term profit boom followed by a correction in the price level. The collapse of the US dollar is going to help on the price front. God only knows what will happen when the real estate bubble bursts.

There seems to be a broad consensus developing that frightening times are coming for the US. Perhaps the worries are overdone. I certainly hope so.

Back to the original point, which economists are surprised?
 
2004-01-07 09:47:06 PM  
I'm just biding my time waiting for the first conservative to show up and call us all hippies and anti-american.
 
2004-01-07 09:47:11 PM  
RudeBoyJoe

Where the hell is duluth?


You need to get out of the Bowery once in a while :D

Duluth, Minnesota is right at the western tip of Lake Superior.
 
2004-01-07 09:47:36 PM  
[image from search.csmonitor.com too old to be available]
Heh heh. We lied out our ass
so we could invade Iraq and they
think we can't fake up a few numbers
on the economy.... Foolish mortals.
 
2004-01-07 09:48:50 PM  
lol frickin_terriferable, that is one job that cannot be outsourced. God Bless America!
 
2004-01-07 09:49:42 PM  
offshoring will destroy the economy, just give it another couple years...

at the very least expect future software to have logo's that show a giant Elephant in a funny hat or some other fruity indian deity.
 
2004-01-07 09:50:01 PM  
batchild

Oh, puh-lease. That other guy's right. It's a modified form of Reaganomics, which saved us from Carter. Not some damn conspiracy involving the president, economists, corporations, and newspapers.

So STFU unless you know what you're talking about.

/Adjust your tinfoil hat, please.
 
2004-01-07 09:50:05 PM  
All this article says is that nobody has a clue what is going on.
 
2004-01-07 09:50:29 PM  
The jobs are all overseas. Surprising that no new jobs were created even when the holiday season just passed.

This country is screwed. The middle class is getting killed, and the whole key to this country has been a great middle class. Once the middle class is gone and nobody can afford to buy any products, the USA is dead, and we are well on our way there.
 
2004-01-07 09:50:33 PM  
west e

I love people that live in the vacuum of Universities and Colleges. Many if not most, economists, sociologists and the like spend their entire lives searching out new grant money to get new tires on their old beat up MG or a new tweed jacket for lecture hall. The world doesn't exist in a vacuum, and economies across the globe are intertwined to a level never before seen in history. Taking one country and breaking down stats out of context is worthless.


Putting aside Rodney Dangerfield movies, academics are the people who are studying the economy and they put their whole lives into it? Who do you suggest should do this kind of research? Some garage owner?
 
2004-01-07 09:51:17 PM  
ZipBeep

hehehe too true...

thanks : )
 
2004-01-07 09:51:22 PM  
Economists are puzzled about the dot in the middle of RingWraithNo5 face.
 
2004-01-07 09:51:41 PM  
sockeatingdryer

Oh, puh-lease. That other guy's right. It's a modified form of Reaganomics, which saved us from Carter.

And who saved us from Reagan...hmmm?
 
2004-01-07 09:52:25 PM  
2 things:
1) US dollar is at a 10 year low, thus inflating stock market value and revenues from sales to international markets without increasing any actual work.

2) Taxes on earnings from the stock market were significantly reduced, making stock naturally more valuable without actually increasing any actualy work.

Both benefit me, so I'm not really biatching.

The deficit spending has gone to goods and services, so it should have an effect on jobs.
 
2004-01-07 09:53:39 PM  
Didn't read the article yet or most of the posts, but I doubt it's statistically true. I mean, I just saw today Bush is trying to pass some "Temporary employment" bill for illegal aliens from Mexico, I'm sure all the Texans will LOVE that (If Texas' economy is anything like Ohio's at least).
 
2004-01-07 09:54:01 PM  
2004-01-07 09:50:29 PM dsmo
The jobs are all overseas. Surprising that no new jobs were created even when the holiday season just passed.


Um...no. Jobs have been created in each of the last four months. Like I said earlier, we'll find out how December was on Friday.
 
2004-01-07 09:54:30 PM  
O_Z_A - Maybe not outsourced, but possibly replaced with technology. How hard could it be to build a machine to build burgers and automate fryers? And if they're designed and built by people outside of the US, how expensive could they be?
 
2004-01-07 09:55:12 PM  
newmoonpuppyhead

And who saved us from Reagan...hmmm?

No, Reaganomics just took longer to work, because that's how our economy works. He started them in the 80s and it took a few years to turn the economy around.

Now, Bush's recent economic changes worked immediately because... because... oh, okay, you caught me. I can't keep up the lies.
 
2004-01-07 09:55:22 PM  
I think I've learned one thing from all of this:

We can only change if WE want to. Right now, this country is so divided as to what it does, or doesn't want, that it is stifling us, badly.

The right and the left keep attacking each other, and the sane "middle", if you want to call it, are just suffering more because of it. I'm tired of living in a country, hell, even a WORLD that doesn't want to change.

I can only stand by idly, and watch as we label and persecute each other, and whatever the hell else we do to wrong each other.

We are blinded to obvious truth that we must CHANGE. Nobody wants that though because it would change a lot of things. Wealth wouldn't mean shiat in this world if we changed it enough. Of course, there wouldn't be much in a barren nuclear wasteland, but I digress.

Well, the world is indeed over and it was all in my head.

No matter what the rest of the world does out of stupidity, I'm not going to be put down, or depressed by it. I believe in karma, and I know we ALL get what we have coming, and I believe that we're gonna all get our just desserts very soon...
 
2004-01-07 09:55:29 PM  
I think it's because there is a record number of farking idiots in the USA that NO ONE would hire...
 
2004-01-07 09:57:36 PM  
newmoonpuppyhead said:
Face it. The American Dream is over. Unless, of course, you've got at least a million in the bank...then keep on dreaming by all means.

That's the wonderful thing about The American Dream (tm) -- it's continually pronounced dead. Over and over and over again...
 
2004-01-07 09:58:32 PM  
Democrats say Clinton helped cause the economic boom and Bushed ruined it. Republicans say Reagan caused it, Clinton ruined it, and Bush is bringing it back. The economy has always been cyclical and had down periods and up periods and people have always blamed or credited the administration.

Maybe the administration has very little to do with it.
 
2004-01-07 09:59:29 PM  
3. Tax cuts for wealthy

Uh, the wealthy ARE the economy, you stupid fark. Get this through your thick liberal skull:

THE ECONOMY != THE GOVERNMENT
 
2004-01-07 09:59:40 PM  
MegaManNobody

Interesting that you should bring up change. That's all many American's have left.

On the flip side, words of wisdom. Wooorrrds of wisdom.
 
2004-01-07 09:59:49 PM  
Zipbeep,

Maybe we can take a lesson from that Rodney Dangerfield movie. Rod knew business - he knew the real world. And he got the girl, and pulled off the Triple Lindy...but I digress. I know that economists and those in academics are necessary, but I think there is a lot to be said for getting a little grease under one's fingernails before telling everyone else how things are done.
 
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