Unemployment Rate Rises to 6.7%

[name change request]

Unemployment Rate Rises to 6.7%

New figures from the Labor Department show a much sharper
worsening of employment conditions than economists expected.
Some 533,000 nonfarm jobs were eliminated in November, the
most in one month since the mid-1970s, and figures for the
prior two months were revised upward by 199,000. The
unemployment rate rose two-tenths of a point to 6.7 percent
in November; it would have been even higher if large numbers
of discouraged workers had not given up looking for work.

http://news.yahoo.com/s/ap/20081205/...ncial_meltdown
http://www.nytimes.com/2008/12/06/bu...s.html?_r=1&hp

[DataBass]

It will reach 16.4 percent before retreating.

[MOM]

its obvious...the free market system is the best system ever...

[tricky]

Originally Posted by MOM

its obvious...the free market system is the best system ever...

1983 here we come! (9.6%)

And before anyone chimes in...This is nowhere near the Great Depression, the economy is still strong, the recession is a product of the liberal Mainstream Media, and oil is cheap. All that doesn't mean shit if you don't have a job either....

[Deff Gordon]

Originally Posted by MOM

its obvious...the free market system is the best system ever...

we don't run anything near a pure free market. hmmm... maybe it's all government controlled anyway just so they can get in there and change it all to be more socialistic. maybe an amendment or 10 to the Patriot Act.

/runs to the supermarket to stock up on tin.

[tricky]

Originally Posted by Deff Gordon

we don't run anything near a pure free market. hmmm... maybe it's all government controlled anyway just so they can get in there and change it all to be more socialistic. maybe an amendment or 10 to the Patriot Act.

/runs to the supermarket to stock up on tin.

Nobody runs a free market system. All are mixed market with ours leaning much more towards capitalism than compared to countries in western Europe.


Pick me up some duct tape while you're there please.

[MOM]

thre was little regulation in the finance industry which caused a lot of this.

imo, this market slump is a reminder of what would happen with a free market ideology spread across all businesses and industries.

we can agree to disagree

[MOM]

basel ii did not work...lets be honest here

[johnny861]

This sucks

Well, at least we're not Zimbabwe with their 80% unemployment, right?

[PETA]

Originally Posted by MOM

its obvious...the free market system is the best system ever...

You'd prefer central planning? Ever visit a communist country?

Originally Posted by MOM

thre was little regulation in the finance industry which caused a lot of this.

imo, this market slump is a reminder of what would happen with a free market ideology spread across all businesses and industries.

we can agree to disagree

Its my opinion that the moon is made of green cheese... we can agree to disagree


Anyway, pure free market capitalism exists nowhere.. except maybe the black market and even then organized crime exerts some controlling influence on it

Originally Posted by johnny861

This sucks

Well, at least we're not Zimbabwe with their 80% unemployment, right?

or France

"Creating jobs and reducing the high unemployment rate has been a top priority. The unemployment rate in metropolitan France slipped to 7.5% in the first quarter of 2008 from 8.1% in the second quarter of 2007 when the government took office."
http://www.state.gov/r/pa/ei/bgn/3842.htm

this recession is gonna suck... for longer than the previous two and will probably be more like the early Reagen recession which, iirc, lasted about 21 ugly months

[david austin]

the % rate should have been higher

polls also account for people leaving the workforce ie. retire/no more unemployment benefits/not looking for work any further/school

the number wasnt out of the reach of the outlying expectations but still bad none the less

[Deff Gordon]

what everybody needs to realize is that every society/civilization/microcosm/dictatorship/marxist has their Have's and Have Nots.

in a free market society the Have Nots have a LOT. more so than any other method.

believe that.

[paigesauce]

we're all gonna die.

[PETA]

Originally Posted by Deff Gordon

what everybody needs to realize is that every society/civilization/microcosm/dictatorship/marxist has their Have's and Have Nots.

in a free market society the Have Nots have a LOT. more so than any other method.

believe that.

yup

The following are facts about persons defined as "poor" by the Census Bureau, taken from various government reports:

• Forty-six percent of all poor households actually own their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage, and a porch or patio.
• Seventy-six percent of poor households have air conditioning. By contrast, 30 years ago, only 36 percent of the entire U.S. population enjoyed air conditioning.
• Only 6 percent of poor households are overcrowded. More than two-thirds have more than two rooms per person.
• The average poor American has more living space than the average individual living in Paris, London, Vienna, Athens, and other cities throughout Europe. (These comparisons are to the average citizens in foreign countries, not to those classified as poor.)
• Nearly three-quarters of poor households own a car; 30 percent own two or more cars.
• Ninety-seven percent of poor households have a color television; over half own two or more color televisions.
• Seventy-eight percent have a VCR or DVD player; 62 percent have cable or satellite TV reception.
• Seventy-three percent own microwave ovens, more than half have a stereo, and a third have an automatic dishwasher.

http://www.heritage.org/Research/Welfare/bg1713.cfm

[MOM]

has many people have stated over and over again...it doesnt have to be one extreme the other...regulation is needed. look what just happened when banks are allowed to do what they want. they sure didnt self regulate. managing risk is important...creating it is bad.

if boom with extreme bust is what you want...fine. i still think there is a better way. call it central planning if you want. i never said that system is what i want. i want an honest system.