Unemployment

[Gregzs]

Big firms pay 50 percent higher wages than small businesses, study shows - The Washington Post

[h=1]Big firms pay 50 percent higher wages than small businesses, study shows[/h][h=3]By J.D. Harrison, Published: November 28 | Updated: Thursday, November 29, 7:30 AM[/h]Small business owners are finding it increasingly difficult to match the wages offered by their larger competitors, according to new research, which could make it harder to find and retain talent on Main Street.

A new Kauffman Foundation study shows that small businesses have historically paid workers significantly less than large firms, with small firms closing the gap to its slimmest margin in 2001, when their employees earned on average 78 percent of the salaries paid to workers at large firms. But the gap has been growing steadily ever since, and by 2011, that figure dropped to 66 percent.

Over the same period, a similar trend was reported between young and old companies, as the percentage earned by employees of start-ups compared to those of established companies dipped from 85 percent to 70 percent.

That the gaps exist isn?t alarming, one expert explained, as small and young firms simply have smaller pools of capital from which to pay employees. But the rate at which their compensation levels are falling further behind has some worried that small businesses may lose more talented job applicants and employees to their larger, higher-paying counterparts.

?There is some evidence that small and young firms have a hiring advantage in recessions and early stages of expansion because the unemployed will take lower wages,? said Dane Stangler, Kauffman?s Director of Research and Policy, noting the findings may partly be attributed to the state of the economy over the past decade. ?However, if the trends highlighted in today's Kauffman report are partly the result of policy barriers...then they will definitely affect the ability of smaller and younger companies to hire.?

The research draws from analysis of the U.S. Census Bureau?s Quarterly Workforce Indicators, which compile federal and state government data on employers and employees and only recently began including company size and age information. Researchers found that employee turnover slows down considerably as businesses get older and bigger, which could be contributing to the wage phenomenon.

?There?s very high turnover at these small and young companies, and they are probably not drawing on as many older, high-educated applicants for their open positions,? Stangler said. ?So my guess is that this is also related to the wage premium for college graduates.?

The widening of the big-small and new-old wage gaps is also partly the result of recent market shifts that have left a higher number of start-ups and small businesses in industries that typically pay lower wages. Stangler noted that the housing bubble, which burst right in the middle of the decade examined in the report, spawned a number of small construction and real-estate companies, which generally pay less than other industries.

He added that, especially for new companies with high-growth potential, wages aren?t always the primary tool used to lure talented employees.

?The wage comparison excludes a lot of the reasons people join start-ups,? he said. ?For example, in tech companies, you have employees taking equity and betting on a payoff down the road and perhaps forgoing a lot of salary. Others want to work for themselves or like a small business environment, so there can be non-financial reasons behind the decision to work for these companies.?

 

[LAM]

US small firms are not very profitable nor do they have access to the same types of subsidy that many US large firms have. most US small firms don't even turn a profit, the ones that do are micro-firms 9 times out of 10 and have no employees.

 

[Big Pimpin]

Also consider how may small businesses are fast food/resturants and retail.

 

[LAM]

Big Business, Corporate Profits, and the Minimum Wage
http://nelp.3cdn.net/4d54471dc413c2c3bb_wcm6btdnu.pdf

"The central finding of this report is that the majority of America?s lowest-paid workers are employed by large corporations, not small businesses, and that most of the largest low-wage employers have recovered from the recession and are in a strong financial position."

Specifically:

* The majority (66 percent) of low-wage workers are not employed by small businesses, but rather by large corporations with over 100 employees;

* The 50 largest employers of low-wage workers have largely recovered from the recession and most are in strong financial positions: 92 percent were profitable last year; 78 percent have been profitable for the last three years; 75 percent have higher revenues now than before the recession; 73 percent have higher cash holdings; and 63 percent have higher operating margins (a measure of profitability).

* Top executive compensation averaged $9.4 million last year at these firms, and they have returned $174.8 billion to shareholders in dividends or share buybacks over the past five years.

and corporate profits right from the St Louis FED
Corporate Profits After Tax (CP) - FRED - St. Louis Fed

* with so many workers in the US being paid low wages growth will continue to be sluggish. it's all about sustainability, far too many are worried about words like "capitalism" vs mathematics.

 

[Gregzs]

25 weirdest job interview questions of 2012 - CBS News

21. "What kitchen utensil would you be?" - Asked at Bandwidth.com, marketer candidate.

 

[Gregzs]

The Differences Between Federal and Private Pay | Face the Facts USA

 

[LAM]

there you go again trying to use facts and data. private sector good and government bad that's all we need to know...LOL

 

[DOMS]

there you go again trying to use facts and data. private sector good and government bad that's all we need to know...LOL

And there you go, not actually looking at the data in front of you -- a big picture with a few words, no less. Here's the "big picture"...

If you have an advanced degree, you get paid less by the government. If you have a bachelor's, you get paid the same. If you don't have a college degree, you get paid less. And who's going to pay top dollar for a bottom dollar educated person?

Having said that, and for clarification, I'm 100% pro-Union.

 

[LAM]

And there you go, not actually looking at the data in front of you -- a big picture with a few words, no less. Here's the "big picture"...

Having said that, and for clarification, I'm 100% pro-Union.

what you mean the information that "I" knew 35 years ago when I was 10? from reading info in dozens and dozens of historical texts that talk about US cities and wages and the industrial revolution.

this info so very old to those of us that didn't learn economics and global wage history from politicians on tv...the fed gov has always been about maximum employment numbers and the private sector has always been about maximum profits, these is not new information, but still good info.

 

[Gregzs]

http://www.nytimes.com/2013/01/28/b...?nl=todaysheadlines&emc=edit_th_20130128&_r=0

[h=1]In Hiring, a Friend in Need Is a Prospect, Indeed[/h][h=6]By NELSON D. SCHWARTZ[/h]Riju Parakh wasn?t even looking for a new job.

But when a friend at Ernst & Young recommended her, Ms. Parakh?s r?sum? was quickly separated from the thousands the firm receives every week because she was referred by a current employee, and within three weeks she was hired. ?You know how long this usually takes,? she said. ?It was miraculous.?

While whom you know has always counted in hiring, Ms. Parakh?s experience underscores a fundamental shift in the job market. Big companies like Ernst & Young are increasingly using their own workers to find new hires, saving time and money but lengthening the odds for job seekers without connections, especially among the long-term unemployed.

The trend, experts say, has been amplified since the end of the recession by a tight job market and by employee networks on LinkedIn and Facebook, which can help employers find candidates more quickly and bypass reams of applications from job search sites like Monster.com.

Some, like Ernst & Young, the accounting firm, have set ambitious internal goals to increase the proportion of hirings that come from internal referrals. As a result, employee recommendations now account for 45 percent of nonentry-level placements at the firm, up from 28 percent in 2010.

The company?s goal is 50 percent. Others, such as Deloitte and Enterprise Rent-A-Car, have begun offering prizes like iPads and large-screen TVs in addition to traditional cash incentives for employees who refer new hires.

Economists and other experts say the recession has severed networks for many workers, especially the long-term unemployed, whose ranks have remained high even as the economy recovers.

Nearly 4.8 million Americans have been out of work for 27 weeks or more, according to the Labor Department, three times as many as in late 2007. The typical unemployed worker has been jobless for 38 weeks, compared with 17 weeks before the recession.

While the overall unemployment rate has edged downward recently, little improvement is expected for the long-term jobless when data for December is released by the Labor Department on Friday.

?The long-term unemployed and other disadvantaged people don?t have access to the network,? said Mara Swan, executive vice president for global strategy and talent at Manpower Group, which provides temporary help and job placement services. ?The more you?ve been out of the work force, the weaker your connections are.?

Although Ernst & Young looks at every r?sum? submitted, ?a referral puts them in the express lane,? said Larry Nash, director of experienced and executive recruiting there. Indeed, as referred candidates get fast-tracked, applicants from other sources like corporate Web sites, Internet job boards and job fairs sink to the bottom of the pile.

?You?re submitting your r?sum? to a black hole,? said John Sullivan, a human resources consultant for large companies who teaches management at San Francisco State University. ?You?re not going to find top performers at a job fair. Whether it?s fair or not, you need to have employees make referrals for you if you want to find a job.?

Among corporate recruiters, Mr. Sullivan said, random applicants from Internet job sites are sometimes referred to as ?Homers,? after the lackadaisical, doughnut-eating Homer Simpson. The most desirable candidates, nicknamed ?purple squirrels? because they are so elusive, usually come recommended.
?We call it Monster.ugly,? said Mr. Sullivan, referring to Monster.com. ?In the H.R. world, applicants from Monster or other job boards carry a stigma.?
Monster.com did not respond to a request for comment.

Even getting in the door for an interview is becoming more difficult for those without connections. Referred candidates are twice as likely to land an interview as other applicants, according to a new study of one large company by three economists from the Federal Reserve Bank of New York. For those who make it to the interview stage, the referred candidates had a 40 percent better chance of being hired than other applicants.

For many companies, the odds are even more lopsided. At Sodexo, a food service and facilities management company that hires 4,600 managers and executives a year, referred employees are 10 times more likely to be hired than other applicants.

?We?re focusing on what will be most efficient,? said Arie Ball, Sodexo?s vice president for talent acquisition. ?And it?s just easier to connect on social networks than it used to be.? The company recently released a mobile app so employees can make recommendations from their mobile phones.

In particular, LinkedIn has altered the hiring landscape, making it easy for recruiting departments to trace connections between job candidates and their own employees by using LinkedIn?s database and software.

LinkedIn has also eaten into the bottom line of Monster.com and other online job sites as well as that of traditional recruiters, said Craig A. Huber, an experienced stock analyst at Huber Research Partners who covers LinkedIn and Monster.com.

Even as the rise of social media changes the landscape for job seekers, the depth of the last recession has eroded labor networks in both the white- and blue-collar worlds, said Judith K. Hellerstein, a professor of economics at the University of Maryland. Skills decline, she said, and friends become reluctant to recommend people who have been out of work for months or years.

?We?re in a period of historic displacement in the labor market,? Ms. Hellerstein said. ?The long-term unemployed are a huge problem that we haven?t figured out. All this human capital is being wasted and their skills are atrophying.?

Referral programs carry important benefits for big companies. Besides avoiding hefty payouts to recruiters, referred employees are 15 percent less likely to quit, according to Giorgio Topa, one of the authors of the Federal Reserve Bank of New York study.

Human resource departments have recognized the same pattern. ?Our analysis shows referred hires perform better, stay longer and are quicker to integrate into our teams,? said Mr. Nash of Ernst & Young.

As a result, within the last two years, firms like Deloitte, Ernst & Young, and Booz Allen have created dedicated teams within their human resource departments to shepherd prospects through the system. Over all, Deloitte receives more than 400,000 r?sum?s a year, but recommended employees are guided along by a 12-person team.

?We had people that felt referrals weren?t being attended to or referrals weren?t being contacted,? said Maribeth Bailey, national director of talent acquisition at Deloitte. ?We simplified the process by removing a lot of red tape.? Deloitte now gets 49 percent of its experienced hires from referrals, up from 43 percent two years ago.

Ms. Swan of Manpower cautions that although employee referrals are a valuable tool, ?you have to watch the ultimate long-term result in terms of diversity and skills.? Otherwise, she warned, ?you?re going to get people like you have.?

People tend to recommend people much like themselves, economists say, a phenomenon known as assortative matching. Mr. Topa?s study for the Federal Reserve Bank of New York found that 63.5 percent of employees recommended candidates of the same sex, while 71.5 percent favored the same race or ethnicity.

As a result, some companies are trying to make sure the proportion of employees who are recommended doesn?t get too high even as they expand their referral programs.

At Enterprise Rent-A-Car, the proportion of workers hired through employee referrals has risen from 33 percent to just under 40 percent in the last two years, but the company wants to make sure it doesn?t pass the 50 percent mark, said Marie Artim, vice president for talent acquisition at Enterprise Holdings.

?I think if you begin to creep up to 50 percent or higher, you start to worry about people not getting the opportunity to talk to us,? she said. ?That?s why we look for a balance.?

 

[Swiper]

Black Unemployment Rate Shoots Up from 12.9% to 14%

http://politic365.com/2013/01/04/black-unemployment-rate-shoots-up-from-12-9-to-14/

 

[LAM]

http://www.nytimes.com/2013/01/28/b...?nl=todaysheadlines&emc=edit_th_20130128&_r=0

that's exactly how I got my foot in the door at EY and landed a job there. I have about 15 friends from Toronto that work there.

 

[Swiper]

US economy shrinks 0.1 pct., first time in 3 ? years

The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
The Commerce Department says the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
The surprise contraction could raise fears about the economy's ability to handle tax increases that took effect in January and looming spending cuts.
Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth. Both are volatile. And they offset faster growth in consumer spending, business investment and housing.
US economy shrinks 0.1 pct., first time in 3 ? years; deep cut in defense spending key factor | Fox News



Obama 2016!

 

[LAM]

US economy shrinks 0.1 pct., first time in 3 ? years

The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
The Commerce Department says the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
The surprise contraction could raise fears about the economy's ability to handle tax increases that took effect in January and looming spending cuts.
Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth. Both are volatile. And they offset faster growth in consumer spending, business investment and housing.
US economy shrinks 0.1 pct., first time in 3 ? years; deep cut in defense spending key factor | Fox News



Obama 2016!

reducing government spending during an economic downturn means reduced overall consumption in terms of US GDP....don't bother trying to understand economics because YOU JUST DON'T GET IT....

your the one that thinks austerity is a jobs program! LMAO....

 

[DOMS]

reducing government spending during an economic downturn means reduced overall consumption in terms of US GDP....don't bother trying to understand economics because YOU JUST DON'T GET IT....

your the one that thinks austerity is a jobs program! LMAO....

So how, pray tell, would cutting out any of the following equal austerity?

• ending the $50 billion in foreign aid.
• ending the $22 billion on welfare for illegals.
• $7.8 billion on illegals in prison (execute the violent and deport the rest).
• Building a solid border (this would create jobs).
• Making prisons not-for-profit.
• Ending offshore tax havens.
• Punishing (via taxes and tariffs) American companies that outsource jobs.
• Punishing (via taxes and tariffs) that move manufacturing overseas.
• Taxing the rich the same way that the middle class is taxed.

All of that would ultimately save hundreds of billions over the next few years.

 

[jay_steel]

Black Unemployment Rate Shoots Up from 12.9% to 14%

Black Unemployment Rate Shoots Up from 12.9% to 14% | Politic365

why wouldnt it the only reason they voted for obama is so they dont have to work.

 

[LAM]

• ending the $50 billion in foreign aid.
• ending the $22 billion on welfare for illegals.
• Ending offshore tax havens.
• Punishing (via taxes and tariffs) American companies that outsource jobs.
• Punishing (via taxes and tariffs) that move manufacturing overseas.
• Taxing the rich the same way that the middle class is taxed.

things the GOP has voted against in the past couple of years...

you also have to differentiate between spending that is paid for with borrowing and with taxes, as the latter comes with debt servicing charges.

reducing social protections only increases crime it does not reduce it. so reducing payments to illegals is about the worst thing that can be done in an economic downturn. desperate people perform acts of desperation. it's why the US has one of the most violent crime rates in the OECD, we spend the 3rd lowest in the OECD on social protections already.

going backwards to go forwards doesn't work in reality.

 

[Swiper]

reducing government spending during an economic downturn means reduced overall consumption in terms of US GDP....don't bother trying to understand economics because YOU JUST DON'T GET IT....

your the one that thinks austerity is a jobs program! LMAO....

the stimulus package worked so well need we another one, but it has to be bigger more like 2 trillion. deficits, national debt, higher taxes means nothing. It has no effect on the economy. we just need to print more money and everything will be just fine. no need to worry about 16.5 trillion debt. we can just print a coin for 20 trillion and we'll then have a surplus. problem solved. next question......

 

[LAM]

why wouldnt it the only reason they voted for obama is so they dont have to work.

or maybe it's because those in the lowest income quintile and those that have the lowest level of education suffer the most during economic downturns. it couldn't possible be a function of economics and education....

what they hell do you radicals on the far right ideologues do for work? it seems like not a one of you has any basic critical thinking skills.

DOL Special Reports - The African-American Labor Force in the Recovery

https://www.google.com/search?q=bla...s=org.mozilla:en-US:official&client=firefox-a

 

[jay_steel]

sorry not as good at using google as you are LAM...

whos fault is that they are uneducated? I mean it can't be their own... It has to be the system, the gov't, the country, other people right. It can not be that they lack self disapline, motivation, and drive. Sorry unlike you I don't make excuses for other people.

 

[LAM]

sorry not as good at using google as you are LAM...

whos fault is that they are uneducated? I mean it can't be their own... It has to be the system, the gov't, the country, other people right. It can not be that they lack self disapline, motivation, and drive. Sorry unlike you I don't make excuses for other people.

how far up the socioeconomic ladder has your family moved in the past 30-40 years?


who's fault is it that US blacks were integrated into the US economy during the 60's? a whole 15-20 years before the US economy started to tank. who's fault was that? maybe the ones that make the policy in the country...

who's fault is it that the red states take in more federal tax dollars than they pay?

Blame FDR and LBJ for ?Moocher? Paradox in Red States

http://taxfoundation.org/sites/taxfoundation.org/files/docs/wp2.pdf

typically far right ideology...everything is the individuals fault. so who started WWI, WWII, Vietnam, Korea, Gulf Wars I and II and the war in Afghanistan?

who caused the Great Depression and Great Recession?

individuals? sure but the ones in power that make the policy...

my god you are one stupid individual....how do you get dressed in the morning?

 

[jay_steel]

actually pretty damn far due to hard work. My parents family was ripped out of their homes and put in japanese camps, because my grandmother was japanese and my grandfather was a vet. They were broke as hell and my family was raised picking strawberries in fields to make money. While my grandpa drove them around the country looking for work here and there living out of a trailor. Then he went back in the army to fight in the Korean war and came back with still nothing to his name. It was not until some how they ended up in washington he would work construction all day and go to school all night to learn how to work on boeings. 10 years later hes an aircraft engineer for boing making great money. My grandmother started out working the sueing machine at jansport and worked her way all the way from a non speaking japanese women to district manager.

They did not believe in hand outs, so ever child had to work for their own. My dad never made 100,000's but hes a dedicated bad ass long hawl truck driver that owns his own truck and makes great money. Hes single, has his harly, cobra, and home. Hes happy living a simple life.

My mom started out as a beautician, good food stamps once and sat in the car crying. She couldnt use them the next day she got two more jobs, as a waitress and at sallys beauty supply. Now she owns her own salon. But only works part time really now because my step dad who is also self made got tired of just doing propation and got his ph.d late in life and became a professor teaching criminology.

None of them started out with a hand out and had the SAME chance every one else did. They did not get hired based on the color of their skin. Shit in washington my dad use to have to tell people he was mexican because they were more racist against japanese then blacks. So dont give me this shit, it is all fucking excuses.

Then me... zero hands outs.. Joined the military at the age of 18 because i knew i could not handle the responsibility of college. Served 10 years and while in my last 3 years started taking college classes. Got out to start my farm from money I saved up. I made 50k ish in the military and lived in a 300 a month apt drove a car i bought cash for 500$ and lived VERY cheap because I knew what it took to own a farm. Got enough money to lease the land and buy the trees and now I am inbusiness with the land owner and also 2 years away from my masters, yes my BS if from UOP but got accepted to fresno states masters program for computer science. I am also a network administrator for a major orthropedic center. I run the entire network. NOTHING was ever given and every thing was earned. I believe in self made men. I have no respect for people made from hand outs.

You can keep pointing fingers because if thats all you ever do is accept that your going to fail because you believe so then thats what you are is a failure. So stop pointing fingers at other people and blaming shit and take responsibility.

 

[DOMS]

things the GOP has voted against in the past couple of years...

Which has nothing to do with those being good ways to cut spending.

you also have to differentiate between spending that is paid for with borrowing and with taxes, as the latter comes with debt servicing charges.

The net result of what I posted is a savings of over a hundred billion in just a few years. The only expenditures would be expelling illegals and building a wall. All of which can be funded with just a small part of the savings.

reducing social protections only increases crime it does not reduce it. so reducing payments to illegals is about the worst thing that can be done in an economic downturn. desperate people perform acts of desperation.

That's why removing the services needs to be coupled with the expulsion of the illegals.

it's why the US has one of the most violent crime rates in the OECD, we spend the 3rd lowest in the OECD on social protections already.

I've already covered this. The reason is that, among the Western OECD countries, the US has the highest number of third-world people.

going backwards to go forwards doesn't work in reality.

Removing a shit-ton of illegals would be a gigantic step forward.

 

[LAM]

I've already covered this. The reason is that, among the Western OECD countries, the US has the highest number of third-world people.

the problem with that is your wrong. below is info from the DHS which gives the demographics of immigrants to the US since 1820.
http://www.dhs.gov/sites/default/fi...tion-statistics/yearbook/2011/ois_yb_2011.pdf

a report from Brookings on immigrants and wages
http://www.brookings.edu/~/media/re...useconomics haskins/07useconomics_haskins.pdf


* the problem is not the immigrants but the types of jobs that have been created in the US since the 80's. the vast majority are low wage service sector jobs with part-time employment. 90% of the jobs created during the recession recovery were in the low wage service sector. certainly no replacement for a much higher paying "class wage" job that was lost through no fault of the individual but of the economic downturn in 2008.

Low-wage Workers Are Older and Better Educated than Ever
http://www.cepr.net/documents/publications/min-wage3-2012-04.pdf

Careers Are Dead. Welcome To Your Low-Wage, Temp Work Future - Forbes

http://www.nelp.org/page/-/Job_Creation/LowWageRecovery2012.pdf?nocdn=1

http://aspe.hhs.gov/hsp/09/lowwageworkers/rb.pdf

* and haven't you figured it out by now that the elites don't care and aren't going to do anything about illegals. IT DOES NOT EFFECT THEIR LIVES NEGATIVELY BUT IT BENEFITS THEM FINANCIALLY....

 

[DOMS]

the problem with that is your wrong. below is info from the DHS which gives the demographics of immigrants to the US since 1820.
http://www.dhs.gov/sites/default/fi...tion-statistics/yearbook/2011/ois_yb_2011.pdf

a report from Brookings on immigrants and wages
http://www.brookings.edu/~/media/re...useconomics haskins/07useconomics_haskins.pdf


* the problem is not the immigrants but the types of jobs that have been created in the US since the 80's. the vast majority are low wage service sector jobs with part-time employment. 90% of the jobs created during the recession recovery were in the low wage service sector. certainly no replacement for a much higher paying "class wage" job that was lost through no fault of the individual but of the economic downturn in 2008.

Low-wage Workers Are Older and Better Educated than Ever
http://www.cepr.net/documents/publications/min-wage3-2012-04.pdf

Careers Are Dead. Welcome To Your Low-Wage, Temp Work Future - Forbes

http://www.nelp.org/page/-/Job_Creation/LowWageRecovery2012.pdf?nocdn=1

http://aspe.hhs.gov/hsp/09/lowwageworkers/rb.pdf

* and haven't you figured it out by now that the elites don't care and aren't going to do anything about illegals. IT DOES NOT EFFECT THEIR LIVES NEGATIVELY BUT IT BENEFITS THEM FINANCIALLY....

So Hispanics don't make up 16.7% of the population? They don't account for 21% of all incarcerated people? I can go on all day.

What you're blathering on about: illegal immigrants. What I actually wrote, and you quoted: "I've already covered this. The reason is that, among the Western OECD countries, the US has the highest number of third-world people." I didn't say "illegals", I said "third-world." I've already posted (in other threads) a ton of facts to back up my point. You fired back a bunch of excuses. Your partial-truths, spin, and outright lies didn't work there, and they're not working here.

 

[Swiper]

it's official, we're in the worst recovery in the history of the US. Obama 2016!

http://www.prisonplanet.com/its-official-worst-recovery-ever.html

 

[Swiper]

2-1-2013

Unemployment has gone up to 7.9%

Bureau of Labor Statistics Data

Obama 2016!

 

[LAM]

Your partial-truths, spin, and outright lies didn't work there, and they're not working here.

because you don't understand economics...that's not my problem, it's YOUR PROBLEM...

 

[LAM]

it's official, we're in the worst recovery in the history of the US. Obama 2016!

Prison Planet.com ? It?s Official: Worst. Recovery. EVER

of course it is. at what other point in time has the working class in the US lost 40% of their wealth? and at what other point in US history has the majority of the working class in the US not made any real gains in income for 3 decades?

just because it's Jan 2013 the causes of the slow recovery doesn't change..because what's causing the slow recovery also helped contribute to the 2008 financial downturn.

what does figure. 1 of the graph show and what does the brief from the Fed state?
https://www.frbsf.org/publications/economics/letter/2011/el2011-21.html

" Economic theory assumes that consumption is a key determinant of personal well-being. Many households became accustomed to the consumption trend established before the recession and expected it to continue. From that perspective, the amount of foregone consumption might be viewed as a measure of the recession?s cost for the average person. However, the pre-recession consumption trend was almost surely not sustainable because much of the household debt that helped finance that spending was collateralized by bubble-inflated housing values. Consumption was bound to slow sooner or later. Indeed, the average annual compound growth rate of real consumption per person since the recession ended in June 2009 is 1.15%, well below the 2% rate before the recession.

Moreover, it is unclear whether continuing the pre-recession consumption trend was economically desirable. Many households might have continued saving too little for retirement while becoming more burdened with debt. When the housing bubble was expanding, former Fed Chairman Paul Volcker (2005) noted several ?disturbing trends,? including that ?personal savings in the United States have practically disappeared,? and that ?home ownership has become a vehicle for borrowing.? He called for federal policies to ?forcibly increase? the saving rate as a way to address the growing imbalance between domestic spending and production."

 

[LAM]

So Hispanics don't make up 16.7% of the population? They don't account for 21% of all incarcerated people? I can go on all day.

What you're blathering on about: illegal immigrants. What I actually wrote, and you quoted: "I've already covered this. The reason is that, among the Western OECD countries, the US has the highest number of third-world people." I didn't say "illegals", I said "third-world." I've already posted (in other threads) a ton of facts to back up my point. You fired back a bunch of excuses. Your partial-truths, spin, and outright lies didn't work there, and they're not working here.

DOMS your signature screams "I don't understand economics"....so your saying you've explained to me that which you don't understand. how exactly does that work?