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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (129451)	1/27/2010 5:07:32 PM
From: Dale Baker	Read Replies (1) \| Respond to of 542159

If you look at that same stat, the one that says unemployment is 17%, it was 10-11% when times were good and stated UE was in the 4's. Both numbers slid 6-7%. As you noted, if they are used consistently, there is no big revelation at all.

To: Katelew who wrote (129451)	1/27/2010 9:16:44 PM
From: Mary Cluney	Respond to of 542159

<<<If the real unemployment rate is 17%, then everything the Obama administration has done is a dismal failure and all those Macro Economists need to be put out to pasture. Also, Dems aren't doing Obama much of a favor to be tossing that notion around while O is claiming the stimulus is saving jobs.>>> I don't see the logic. IMO public policy has to be based on a fundamental economic theory. We have tried the supply side economic model and it has failed. Obama has had a year to get us out of that mess. The Obama administration said they wanted to save(or create) 3.5 million jobs. Up until now, they have saved (or created) 2.5 million jobs. He will probably say tonight as he has been saying all along we need to do more. I just don't see where the Obama administration and or the Keynesian Macro economic theory has failed. "To the supply-side economist, reallocation away from consumption to private investment, and most especially from public investment to private investment, will always yield superior economic results. In standard monetarist and Keynesian theory, however, there will be a point where increases in asset prices will produce no new supply, that is where investment demand will outrun potential investment supply, and produce instead, assets inflation, or in common terms a bubble. The existence of this point, and where it is should it exist, is the essential question of the efficacy of supply-side economics."