Interesting read

[Willi]

http://theeconomiccollapseblog.com/a...you-very-angry

[Don1]

more storm pon di horizon... wedda is Category 3 ar 5...ongly Jah know

[Willi]

Ah begging for a 3...caaan manage a 5!!!

[Don1]

lol

[Willi]

//

January 6, 2012, 3:42 pm The Soft Bigotry of Low Employment Expectations

A brief note while in transit, about today’s jobs report.
Obviously it’s better than we’ve been seeing. But we need much faster job growth; it says something about how beaten down we are that this is considered good news.
Let me give two back-of-the-envelope ways to think about how inadequate 200,000 jobs a month is.
First, note that there are still about 6 million fewer jobs than there were at the end of 2007 — and that we would normally have expected to have added around 5 million jobs over a four-year period. So we’re 11 million jobs down — and we need at least 100,000 jobs a month just to keep up with working-age population growth. Do the math, and you’ll see that it would take 9 or 10 years of growth at this rate to restore full employment.
Alternatively, note that during the Clinton years — all 8 of them — the economy added around 230,000 jobs a month. As it did that, the unemployment rate fell about 3 1/2 percentage points — which is about what we’d need from here to get back to something that felt like full employment. Again, this suggests that we’re looking at something like a decade-long haul to have full recovery.
So yes, this is better news than we’ve been having. But it’s still vastly inadequate.

[Don1]

i.e..... At worst Recession or at best Slow Growth is the new normal