Oil in America

[MikeWaters]

Originally Posted by BYU71

Stuck in the 80's? Well in case I was, I went and checked on unemployment rates now per Wikipedia.

Seems the European Countries I mentioned all have higher rates than we do. As a matter of fact so does the UK. This even after they have been moving toward less taxation.

Our unemployment rate is lower than all of theirs and yet the dems call our economy sick and the way to fix it is raise taxes??

Mike, when it comes to debating financial matters go find yourself a financial midget to do battle with so it will be a fair fight.

link?

(btw, I assume you have heard analysis that sometimes unemployment can be TOO low. I assume you understand that. And how comparing 5.3% to 5.9% is pretty worthless in determining the strength of an economy).

[creekster]

Originally Posted by MikeWaters

link?

(btw, I assume you have heard analysis that sometimes unemployment can be TOO low. I assume you understand that. And how comparing 5.3% to 5.9% is pretty worthless in determining the strength of an economy).

It is bad for it to be too low if we are having labor shortages. I don't think we are there yet. If so, we would expect the economy to start overheating and perhaps experience wage driven inflation.

I am not sure about this comparison of UE rates, however. Do the generous social benefits available in most European economies affect their structural rate of unemployment?

[BYU71]

Originally Posted by MikeWaters

link?

(btw, I assume you have heard analysis that sometimes unemployment can be TOO low. I assume you understand that. And how comparing 5.3% to 5.9% is pretty worthless in determining the strength of an economy).

This is so fun to have a debate with you on this issue. 5.3 vs 5.9 is a 10% difference. Do you have any idea how our markets would be reacting now if our rate went to 5.9. You think Obama is screaming about all the folks without jobs now, how loud do you think he would be screaming then.

.3% which is the diff between the US and UK would be even considered a big deal. Now lets look at France 7.5 and Germany 8.4 or even our pals up north, Canada 6.0. Do you think those are big differences?

[BYU71]

Originally Posted by creekster

It is bad for it to be too low if we are having labor shortages. I don't think we are there yet. If so, we would expect the economy to start overheating and perhaps experience wage driven inflation.

I am not sure about this comparison of UE rates, however. Do the generous social benefits available in most European economies affect their structural rate of unemployment?

That's another argument. Maybe high unemployment is really good for the masses, because it indicates the government is more concerned about a fair distribution of wealth than the economy. It didn't work for the Russian communists, maybe it is for the Chinese.

[creekster]

Originally Posted by BYU71

That's another argument. Maybe high unemployment is really good for the masses, because it indicates the government is more concerned about a fair distribution of wealth than the economy. It didn't work for the Russian communists, maybe it is for the Chinese.

THat's not what I mean. Full employment is an UE rate of something like 4.5% to 5.5% becaseu we will never have 0% UE as some UE is built in to the economy. I was just wondering if the amount of such structural UE is affected by the social welfare state systems. IOW, maybe a higher rate is Full Employment for them. I have no idea, just musing.

[BYU71]

Originally Posted by creekster

THat's not what I mean. Full employment is an UE rate of something like 4.5% to 5.5% becaseu we will never have 0% UE as some UE is built in to the economy. I was just wondering if the amount of such structural UE is affected by the social welfare state systems. IOW, maybe a higher rate is Full Employment for them. I have no idea, just musing.

I don't know. I know unemployment rate is used as an indicator of how well the economy is doing. Ours has been so good for so long it appears to have lost some of its impact.

Full employment is 4.5 and we are at 5 and everyone is screaming how lousy this economy is? The point I was making though was taxes and social type programs and their effect on employment. It appears that unemployment is coming down in countries like Germany and France where a more conservative leader has been chosen.

However, here in america we are looking for change. That change will be higher taxes and higher unemployment. Maybe what we get in return will be worth it. I dont' think so, but at least I wish the libs would make that argument instead of pretending they can give us the socialist agenda and an economy as strong as the one we have had.

[BlueHair]

Originally Posted by creekster

It is bad for it to be too low if we are having labor shortages. I don't think we are there yet. If so, we would expect the economy to start overheating and perhaps experience wage driven inflation.

I am not sure about this comparison of UE rates, however. Do the generous social benefits available in most European economies affect their structural rate of unemployment?

We have had labor shortages for years. That is the reason we need the illegal aliens. If we suddenly deported all of the illegals, the shortage would do just as you said - cause dramatic wage driven inflation.

[Indy Coug]

Originally Posted by BlueHair

We have had labor shortages for years. That is the reason we need the illegal aliens. If we suddenly deported all of the illegals, the shortage would do just as you said - cause dramatic wage driven inflation.

Which is why we need to completely overhaul our legal immigration process: to allow more people to quickly and legally immigrate to this country to fill the labor shortage.

[creekster]

Originally Posted by BlueHair

We have had labor shortages for years. That is the reason we need the illegal aliens. If we suddenly deported all of the illegals, the shortage would do just as you said - cause dramatic wage driven inflation.

Not really, beacseu the illegals are here, so there has been no shortage.

[BYU71]

Originally Posted by Indy Coug

Which is why we need to completely overhaul our legal immigration process: to allow more people to quickly and legally immigrate to this country to fill the labor shortage.

Let's see. We are ticked at how many jobs are being shipped overseas and yet we need immigrants to come in because we don't have enough people here to fill the jobs that are here.

Does it boil down that the good jobs are going overseas and it is the crap jobs that stay here and we need immigrants to fill. If that is the case though, if we bring all those good jobs back home, who will fill them.