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Thread: The Paradigm Has Shifted – Employment Rebound Led By Low Quality Jobs

  1. #51
    Veteran Member bonehead's Avatar
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    Quote Originally Posted by Puzzling Evidence View Post
    At what point will you shift blame to Trump or will you fail to do that until the end of time?
    “If the facts don't fit the theory, change the facts.”
    ― Albert Einstein
    Thanks from Dittohead not!

  2. #52
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by fenrir View Post
    You're right and 100 days into this administration nothing's changed from Obama's economy. Is it possible, just possible, that allowing all those manufacturing jobs outsource to China under the Clinton administration was a bad idea? Is that possible?

    Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
    We had MORE manufacturing jobs in the year 2000 than we did in 1993. The huge drop in the number of manufacturing jobs took place during the George W. Bush administration, NOT the Clinton administration.

    Sorry, but them's the facts.

  3. #53
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by fenrir View Post
    The "social saftey net" was destroyed decades ago during the Clinton administration when the Democrats and Republicans allowed American Corporations to chase cheap labor in China.
    China was not admitted to the WTO, the World Trade Organization, until the end of 2001. That was in the George W. Bush administration.

    https://en.wikipedia.org/wiki/China_...e_Organization

  4. #54
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by galatin View Post
    We reached time times when the difference between left and right is often illusory. What is more real, is the opposition between openeness and closeness..... Do we accept the mutations on the go and are we ready to adjust to them keeping in mind that people must do more than survive, or no ?
    This is exactly correct. It is no longer about left vs right, but about open vs closed economies. I have posted on this many times before.
    Thanks from bajisima and Dittohead not!

  5. #55
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by publius3 View Post
    What’s true for Lebron James, Tom Brady, Bryce Harper or Rinaldo is true for all nearly all workers in a competitive economy. As long as workers have the option to leave one job for a competing job, worker pay gets bid up to reflect workers’ productivity.
    Labor productivity is very much higher today than it was in 1973, but the real wages that workers earn have been stagnant since that time. That is not a normally functioning economy, as usually worker pay and worker productivity WOULD move in tandem. They have not been doing so, however. This empirical evidence would suggest that we live in an oligarchy, where all the gains from productivity improvements are being funneled to the top 1%.

    If that trend continues for very much longer, we may arrive at pitchforks and torches time.
    Thanks from labrea

  6. #56
    Veteran Member bajisima's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    This is exactly correct. It is no longer about left vs right, but about open vs closed economies. I have posted on this many times before.
    And that's a big part of why Trump is where he is. With all the negative press about NAFTA over the years predominantly by unions, it got absorbed in many areas. TPP was another. I think if dems want to win they are going to have to learn to walk that tightrope in 2020. Getting someone bold up there that says "I am all in for getting TPP passed" could backfire again whereas getting someone up there who says " hey this is how it works, here are the facts and trade deals aren't all bad" might be a better strategy. So far the only person who can relate is Biden.
    Thanks from BigLeRoy and labrea

  7. #57
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by fenrir View Post
    Also from my link...

    ...History demonstrates that ruling classes of any kind are reluctant to share power with the ruled unless they are afraid of the ruled or afraid of rival ruling classes. The former—fear of the ruled—is a weak motive. Popular revolts seldom turn into revolutions, without the support of dissident members of a ruling class or of a foreign elite, like the French monarchy that bankrolled and supported U.S. independence for its own purposes....
    A ruling class will often pull up the ladder of success behind them, not allowing anyone else to climb it. This is essentially what happened to Late Victorian Britain, leading to a vast withering away of the British Middle Class in the succeeding Edwardian period.

  8. #58
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by bajisima View Post
    And that's a big part of why Trump is where he is. With all the negative press about NAFTA over the years predominantly by unions, it got absorbed in many areas. TPP was another. I think if dems want to win they are going to have to learn to walk that tightrope in 2020. Getting someone bold up there that says "I am all in for getting TPP passed" could backfire again whereas getting someone up there who says " hey this is how it works, here are the facts and trade deals aren't all bad" might be a better strategy. So far the only person who can relate is Biden.
    I've noticed that people don't think Joe is very smart; but he's actually pretty good at explaining this stuff, in a way that ordinary folks can understand and relate to.
    Thanks from labrea and bajisima

  9. #59
    Scucca Æthelfrith's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    This is exactly correct. It is no longer about left vs right, but about open vs closed economies. I have posted on this many times before.
    But it isn't is it? Take the UK and the US. Both countries that have had some positive influence on free trade, but both suffering from crippling inequalities.

  10. #60
    Veteran Member TNVolunteer73's Avatar
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    Quote Originally Posted by labrea View Post
    By 1291americas on June 17, 2017 10:43 pm

    Alice…where are you?

    It seems that Alice in Wonderland may be the only one in a position to understand what’s happening with interest rates, unemployment and the overall U.S. economy in light of the Fed Meeting on Wednesday and recent data.

    Much like in Lewis Carroll’s Through the Looking Glass, where the clock runs backwards and memories flow in reverse, things in the U.S. economy may not be quite what they seem. While the equity market seems to have fallen down the rabbit hole, we have been busy looking for the source of this distortion. Perhaps we have found it…

    snip

    But, with unemployment rates so low that even ex-convicts and high school drop outs are getting job offers, inflation is still under 2%. The Consumer Price Index (CPI), which is the standard used to measure inflation, has remained nearly flat over the past three months. Something has changed.

    The Paradigm Has Shifted

    The Fed acted to raise rates based on what it believes full employment should means to the overall economy, yet, raising inflation is nowhere to be found. The question we must answer is why. To do that we have to look much deeper than the pandering news headlines that shout about the lowest unemployment rate in 16 years.

    snip

    “Since the 1970s, steady work that pays a predictable and living wage has become increasingly difficult to find,” said Jonathan Morduch, a director of the U.S. Financial Diaries project, an in-depth study of 235 low- and moderate-income households. “This shift has left many more families vulnerable to income volatility.”

    The May jobs report showed that areas with the largest growth were professional and business services, education and health services, and leisure and hospitality. Together these three sectors make up 40% of the job market. While these sectors showed the largest gain in jobs, the average income these new jobs provide are below or deeply below the national median household income of $56,000 per year.

    New jobs Being Created Now Are Mostly Low Paying, Low Quality
    it talks about the last 8 years being low income employment. Who was POTUS for the last 8 years HMMM


    Now Manufacturing Jobs have expanded the last 8 months to a 9 year high.. Manufacturing jobs are decent paying jobs. Thanks Donald.

    (your souce slams obamanomics by telling the truth of his PART Time Job creation).

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