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Where are the Jobs? The Parallels between Today and the Great Depression

The Great Recession officially ended way back in June of 2009, so why are so many Americans still out of work? It’s not because politicians were twiddling their thumbs. Indeed, from from bailouts to “Cash for Clunkers” to the massive stimulus plan, government has busied itself with trying to fix the economy. And, according to President Obama, this “bold, persistent, experimentation” has brought our country back from the brink. Obama borrows that phrase from President Franklin Rooselvelt, and today’s president has a lot in common with the original bold, persistent, experimenter. Like Obama, FDR was a charismatic Democrat who replaced an unpopular Republican during a time of crisis. And like Obama, FDR championed a slew of policies designed to get America back to work. Today many Americans credit FDR with rescuing our nation from the Great Depression, but there’s plenty wrong with that view, says Lee Ohanian, a UCLA economics professor who specializes in economic crisis. “What’s wrong with that view is that private-sector job growth did not come back under Roosevelt,” says Ohanian, who notes that Americans often forget how long the Great Depression lasted. Unemployment stood at 17 percent in 1939, a decade after the infamous stock market crash, and, although times were much worse back then, Ohanian sees troubling parallels between the Great Depression and the Great Recession. In both instances our nation emerged from a severe downturn with strong productivity growth and the

25 Responses to Where are the Jobs? The Parallels between Today and the Great Depression

  1. matada11 says:

    there are jobs listed on freecareers . net

  2. Mousymouse27 says:

    @TeamTindallRacing hahah, thank you.

  3. jesikaadom says:

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  4. baredd79 says:

    Where are the jobs???? I’ll tell you where they’re at!! They’re in red communist China!!

  5. swami24u says:

    nationalize the banks , they can’t handle money properly

  6. cdltpx says:

    @TeamTindallRacing And your home page shows this is your troll account and you are hiding your face.

  7. TeamTindallRacing says:

    @cdltpx Your post is rambling nonsense. It has nothing to do with the fact that war does not benefit a countries economy. Economies do well when wealth is created through voluntary trade. War inhibits, not enhances trade. I cannot make it any simpler for you.

  8. cdltpx says:

    @dirtbagstatus You would think but the bankers get their money from interest payments and asset liquidation a stable society has less and less need for banks and market majicians. When you invest in the community farm you get quality food and you cut the middle man who just happens to live way over there. There are no more Indians to kill they will turn on us and use their evil ways to get an easy buck. It is nothing personal its just business that happens to place people on the streets HL.

  9. cdltpx says:

    @cdltpx USA will be broken into pieces it has to be or the masses living in the cities will swamp the countryside. Sure we see this as a free country but post Katrina we saw the police taking aim at people not just to stop them but to stop those that might follow them they honestly were doing their job. They were left to dry so next time the government will not be questioned placing big army in place not to save the people but to lead them to the slaughter the soldiers will not know their role.

  10. cdltpx says:

    @cdltpx When those events occur then the USA will be back on track for a rebound but by then the very elite will have eliminated a huge swath of the population knowing that they can’t be fed with current agricultral practices. Oil has to be cheap to promote current practices it is only a matter of time till cheap oil will be in the past only the elite will enjoy its use. Like it or not you will see war designed to return them to the very earth they were formed. I just try to predice the next.

  11. cdltpx says:

    @cdltpx The way business has been conducted in this country for decades is predatory it is business that is designed to destroy then liquidate assets for quick spoils disreguarding the need of the very people that made those businesse thrive. Sure we have found that business can be a white collar only affair conducted over seas and we soon will see the other shoe drop those business will be confisgated. This should occur when fuel prices reach levels that cant support currnet practices.

  12. cdltpx says:

    @TeamTindallRacing It very clear you don’t read any books I have absolutely no power to formulate opinion you are pissing up a pole and you are standing underneath the stream. I don’t support the wars I only see the way the MIC has and will conduct themselves. Things that were to occur in south and central America are now being attempted here in the us they are feeding on themsellves ie other Americans now that the Latinos are getting their political act together with peacful socialism.

  13. TeamTindallRacing says:

    @cdltpx You’ve given me a really great idea! To boost innovation and spur growth lets fight another Civil war in the U.S. That way we can give jobs to people for manufacturing weapons, and rebuilding the destruction that takes place. We will also have incredible technological innovations like GPS. Let’s ignore things like specialization, scale economies and free trade and just fight a war with ourselves! Then the economy will really be booming!!

  14. cdltpx says:

    @TeamTindallRacing Tell that to the people that make war for profit. GPS is there for war not so you can get to aunt Sallys. The GPS was not allowed for civilian use until Korea shot flight 007 out the sky killing many innocent people.

  15. TeamTindallRacing says:

    @cdltpx So? There are far more efficient ways of innovating than destroying things and then making a few discoveries as a by-product.

  16. samuils says:

    @TheAtheistAllegiance Has not lost substantial amount? What is substantial to you? 20%? How exactly are you going to levy tariffs on foreign labor, if not through higher tariffs through goods? Outsourced labor is no longer USA labor, what straw man argument? And any tax cuts have to go along with spending cuts. Its spending that increased deficit not tax cuts. Its not about what you think, its about facts, and facts are not on your side

  17. TheAtheistAllegiance says:

    @samuils

    The US has not lost any substantial amount of jobs due to cyclical downturn since early 2009. This is undeniable and heavily documented FACT.

    Are you purposely beating up a straw-man argument? The US should adopt tariffs on outsourced labor — not goods.

    If lowering taxes magically increased revenue, then Bush’s tax cuts would not have increased the deficit by 1.6 trillion. However, they did, so your entire argument is defunct.

  18. samuils says:

    @amazingyou1uber 9.5% is not high, between states its only a small difference. Not to mention the restrictions that are placed on companies, play much larger role in employment. Look at California, same tax rates yet very high unemployment. The question is not state tax rates, but Federal.

  19. samuils says:

    @TheAtheistAllegiance To make it easier, look into every statistic which explains the best tax rate. The tax rate maximum of 18%. The reason is that, the higher you go the lower tax revenue you will get, it has been proven again and again. The higher the tax, lower tax revenue you will get, simply because the “rich” either start working less, or find other means to avoid higher taxation.

  20. samuils says:

    @TheAtheistAllegiance What are you talking about we are still losing jobs. And the very idea of levying taxes on any goods going to china, Chinese immediately threatened to raise tariffs on goods it was in the news not so long ago, which made USA to fore go the idea. And the best way to control the budget is to LOWER SPENDING and not increase taxes. The same circle all over again

  21. TheAtheistAllegiance says:

    @samuils

    The economy initially lost around 8-10 million jobs, but gained many back. These jobs are no longer continuing to be lost.

    Fair Trade focuses on forming barriers in labor — not goods. So prices will remain approximately the same, but jobs will not be lost to foreign countries, and no trade war will take place.

    The corporate tax is not in question; the individual income tax is. The budget must be controlled, and the rich can afford a tax hike, while the middle-class cannot.

  22. samuils says:

    @TheAtheistAllegiance And labor costs are indeed much higher, but so is the price of products. I never said that the sole reasons were taxes, there are many more reasons. And Fair trade will only create “trade wars”, where you will endup paying much higher prices for goods. And once again, rasing taxes on businesses, will only ruin the economy even further. The so called rich are 250k and above.

  23. samuils says:

    @TheAtheistAllegiance If you count how many jobs lost VS created, we are at a negative. So jobs are being lost, because there is no such thing as all industries standing still and not hiring, thus 3 mil. is not an achievement when you are losing much more. The Govt. Doesnt need to hire poor, it just needs to get out of the way of businesses, so THEY can hire them.

  24. TheAtheistAllegiance says:

    @samuils

    Those jobs created were not “despite the facts”. The CBO is one of the most reliable institutions in the nation.

    The government can’t help the poor obtain a job without revenue, which has to be generated by taxes.

    Labor costs *are* higher in the US. Either US workers will have to accept 50 cents an hour, or Free Trade will have to be replaced with Fair Trade; otherwise, those jobs will go overseas.

  25. samuils says:

    @TheAtheistAllegiance Those Jobs created, were despite the facts. We have lost more jobs than market created, dont attribute it to those ridiculous programs. There is no value in overtaxing anyone, and the only way you can help the poor, is help them get a job. And if companies can make same products for similar cost, in safe USA, no free trade agreements would ever make them go overseas.

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