Not quite, many of the people already off the list are casualties of the 2001, 2002 batch of layoffs and many have already blown through their life savings waiting for work which hasn't materialized yet.

It's easy to say, Let them retrain, Let them find another job, why not say Let them eat cake and see what happens? It is a known fact that educated middle class will not simply revert to the lower classes. That's just not how things work. What will happen instead you have alot of well educated, spoiled, thinkers with nothing to do but plan counter government, counter culture activities..ie. terrorism. Coincidence? Read the book.

Hey Shleprock, not everyone pays $200 a month to live in their parents basement.

Get a fucking clue and explain how someone can support a family working at 7-11? Sending two kids to daycare costs MORE than one would make at 7-11, McDonalds or any of the other places you suggest. Sending one kid to daycare costs on average about $200 a week, you make $7 an hour at 7-11 thats $280 a week, after taxes about $220, get it?

blame the unions, seriously

here's a link to get unemployment figures from the Bureau of Labor and Statistics:

http://data.bls.gov/cgi-bin/surveymost?ln

Hey Centurion,

Did you take a math class after elementary school? Do you seriously not understand the importance of looking at economics figures compared to the scale of the economy rather than looking at the raw numbers?

You said "Don't hide behind links to graphs or stats..just answer". That makes no sense. The US population has grown 24% since 1983. Therefore the same unemployment rate will create 24% higher unemployed people. In 1982, the unemployment rate was 9.7%, about 60% higher than it is now.

The US unemployment rate is the same today was it was in 1994. The most accurate thing you can say is that US unemployment is the same today as it was in 9 years ago.

A simple example. France only has a population of about 60 million. Nearly five times as many French as a percentage of it's population would have to be unemployed as Americans. Right now, about 9% of French are unemployed. This is 50% higher than the US. However more Americans are unemployed because there are more Americans.

In fact, if the US holds such numbers as debt as a percentage of GDP and the unemployment rate steady they the raw numbers will always rise because the population and GDP rise. Debt relative to the GDP is the same as it was in 1995. Unemployment rate is the same as it was in 1995.

Similarly, the US GDP is at a record high. I could say to you"Don't hide behind links to graphs or stats..just answer. Did the US have the highest GDP of any nation in history last year?"

I'm sorry if these simple stats are confusing you.

Good...take the reins again Colin. :)

Here's some historical perspective to go with that.
http://www.dallasfed.org/htm/data/data/ru.tab.htm

The annualized average unemployment rate using these figures is 6.3%. July ,2003 unemployment 6.2%.

People live like this and it seems so impossible to me now. I worked at a drugstore for nearly minimum wage when I was 21 and had a daughter. Somehow I managed that. There are people who will babysit for free. We had a girl in our neighborhood who baby sat for only $1/hour (1990). People get by. Many people, in poorer neighborhoods have arrangements between them and there are stay at home moms who babysit for very low rates. Amazing.

Did you just wake up or have not retired for the night?

It seems to me that the biggest impediment to a very strong economy is the already low fed funds rates. Will the rate slowly be increased as the economy accelerates? (assuming it accelerates). If so, that would put a damper on things.

I know Buff is very worried about the money supply. He's a big fan of the Austrian School of economists. I myself am not though I once was. Maybe he has the opposite story.

Many economists are of the opinion that flooding the marketplace with currency is a good strategy to get an economy going. It doesn't just get handed out to people in the streets. Money is lent to people and businesses and spent by people and businesses.

Interestingly, there is little or no inflation in the US right now. Greenspan is as worried about deflation actually.

Many recessions have been accompanied by a shrinking money supply and many recoveries have been accompanied by an expanding money supply.

I just woke up. ;-)

I need coffee ...