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Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

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Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by Phillymg on Tue Apr 12, 2011 12:20 am

Straight from the horse's mouth or the other end.....

Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years.' 04/11/11

http://www.istockanalyst.com/business/news/5051697/u-s-to-maintain-unacceptable-unemployment-rate-paulson

Translation--'The outsourcing & offshoring of American jobs to China will continue. Let's party!!' Paulson has made nearly 100 trips to China over the years. Xinhua News Agency refrained from expressing glee in their article about his remarks in Hong Kong.

Btw is Paulson back with Goldman Sachs again?? He quit working there & divested his shares when he went to work for GWBush as Treasury Secretary. Since 2009 he's been teaching as a college professor at Johns Hopkins. But the Xinhua article says he's been Chairman & CEO of Goldman Sachs 'since 1999'..... Shocked

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by Phillymg on Tue Apr 12, 2011 1:35 am

Wonder how this news will affect the fight for HR589.....

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by Guest on Tue Apr 12, 2011 1:58 am

Phillymg wrote:Wonder how this news will affect the fight for HR589.....

I hate to say it but the trickle down effect things are improving somewhere I dont know but any additional weeks seems like a lost battle at this point. States are cutting EB benefits like flies as fast as they can. Just my opinion.

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by Phillymg on Tue Apr 12, 2011 6:42 pm

With jobs growing but at such a snail's pace.....the only right & sensible thing for Congress to do is to pass HR 589 immediately.

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by Guest on Tue Apr 12, 2011 7:10 pm

How are hard working Americans supposed to survive until the Jobs are created. I want to work, I prefer to work. but until jobs are available what are we supposed to do?

HR 589 is the only lifeline left for many.

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by UPCHITCREEK on Tue Apr 12, 2011 7:13 pm

Phillymg wrote:With jobs growing but at such a snail's pace.....the only right & sensible thing for Congress to do is to pass HR 589 immediately.


X2

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by UPCHITCREEK on Tue Apr 12, 2011 7:16 pm

Need2Bworking wrote:How are hard working Americans supposed to survive until the Jobs are created. I want to work, I prefer to work. but until jobs are available what are we supposed to do?

HR 589 is the only lifeline left for many.


You are right , but you know i wonder ... now that their (government ) jobs have been save , on our backs(paying taxes) if we ever get back to work .


DO THEY REALLY CARE ??????

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by Guest on Tue Apr 12, 2011 7:26 pm

UPCHITCREEK wrote:
Phillymg wrote:With jobs growing but at such a snail's pace.....the only right & sensible thing for Congress to do is to pass HR 589 immediately.


X2

X3..If this bill passes, many of us LTUE can be healthy, strong, reliable candidates to return to the workforce

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by UPCHITCREEK on Tue Apr 12, 2011 7:29 pm

OK , here's how i feel


Just one person stand up and really be out spoken about the true unemployment numbers

I don't care how bad they are , it can be fixed , but the truth must be told !


Be it a INDP, Democratic or Republican , OBAMA or BIDEN , FARMER BROWN, I am willing to bet , the AMERICAN people will give them more respect and maybe vote for them as a president !!

JUST THE SIMPLE TRUTH IS ALL I ASK !

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by JaneWI on Tue Apr 12, 2011 7:51 pm

UPCHITCREEK wrote:OK , here's how i feel


Just one person stand up and really be out spoken about the true unemployment numbers

I don't care how bad they are , it can be fixed , but the truth must be told !


Be it a INDP, Democratic or Republican , OBAMA or BIDEN , FARMER BROWN, I am willing to bet , the AMERICAN people will give them more respect and maybe vote for them as a president !!

JUST THE SIMPLE TRUTH IS ALL I ASK !

I would like to see the today's unemployment numbers calculated using the same method they used during the 1930s.
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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by mrgolf on Tue Apr 12, 2011 8:46 pm

Phillymg wrote:Wonder how this news will affect the fight for HR589.....
You would hope it would help HR589
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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by mrgolf on Tue Apr 12, 2011 8:54 pm

UPCHITCREEK wrote:

Just one person stand up and really be out spoken about the true unemployment numbers
Sean Hannity of FOX NEWS says the true unemployment rate is closer to 18%

Here is part of a transcript from one of his shows

Guys, good to see you. All right. First of all, all right, I'm happy that unemployment rate went down. We are still not creating jobs at a significant rate, number one. Number two, we are not counting millions of people that are underemployed and have stopped looking for work. This is not an honest number.

Read more: http://www.foxnews.com/on-air/hannity/transcript/invisible-recovery-why-economy-still-feels-so-sluggish#ixzz1JMNZ3bU8
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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by Phillymg on Wed Apr 13, 2011 12:00 am

mrgolf wrote:
UPCHITCREEK wrote:

Just one person stand up and really be out spoken about the true unemployment numbers
Sean Hannity of FOX NEWS says the true unemployment rate is closer to 18%

Here is part of a transcript from one of his shows

Guys, good to see you. All right. First of all, all right, I'm happy that unemployment rate went down. We are still not creating jobs at a significant rate, number one. Number two, we are not counting millions of people that are underemployed and have stopped looking for work. This is not an honest number.

Read more: http://www.foxnews.com/on-air/hannity/transcript/invisible-recovery-why-economy-still-feels-so-sluggish#ixzz1JMNZ3bU8

As I commented when that link first got posted a couple of weeks ago.....

Without specifying what he is doing.....Hannity refers to the Gallup Survey figure that uses non-seasonally adjusted data.

Every month the BLS reports results of its Current Population Survey of 60,000 households using *seasonally adjusted* data. Likewise each month Gallup reports its own survey of 60,000 households but using the NSA data that fluctuates. For example in Dec. 2010 when the BLS found U3 was 9.8% Gallup found U3 was 8.8%. The Gallup U3 & U6 figures are always either much higher or much lower than the BLS U3 & U6.

Imo regarding some vague thing so-called the 'true' unemployment numbers.....the unemployed come off looking uneducated & uniformed when these sorts of baseless conspiracy theories are floated. It's surely *bad* that U3 is 8.8% & U6 is 15.7%.

Or as Paulson says 'at an unacceptable level'.....

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by Phillymg on Wed Apr 13, 2011 12:23 am

JaneWI wrote:I would like to see the today's unemployment numbers calculated using the same method they used during the 1930s.
I get what you're saying but the unemployed of today are suffering in the here & now. Also ever since Obama took office some guy who used to work for Reagan goes on & on about how things would look worse using the 1930s method.....funny he never did that when GWBush was in office. Since the overhaul of the Current Population Survey in 1994.....looking at the BLS U3 & U6 numbers since then.....things really stink today.

http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=1994&toYear=2011

However all of that said.....one of the DAWU members posted this article that questions something called Normal Unemployment & Natural Unemployment--

http://www.nytimes.com/2011/04/10/business/10view.html?_r=2

I've been trying to understand how that effects the unemployment rates.....not being an economist type.....but it seems like something important for the unemployed to know about.

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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

Post by JaneWI on Wed Apr 13, 2011 7:39 am

Phillymg wrote:
JaneWI wrote:I would like to see the today's unemployment numbers calculated using the same method they used during the 1930s.
I get what you're saying but the unemployed of today are suffering in the here & now. Also ever since Obama took office some guy who used to work for Reagan goes on & on about how things would look worse using the 1930s method.....funny he never did that when GWBush was in office. Since the overhaul of the Current Population Survey in 1994.....looking at the BLS U3 & U6 numbers since then.....things really stink today.

http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=1994&toYear=2011

However all of that said.....one of the DAWU members posted this article that questions something called Normal Unemployment & Natural Unemployment--

http://www.nytimes.com/2011/04/10/business/10view.html?_r=2

I've been trying to understand how that effects the unemployment rates.....not being an economist type.....but it seems like something important for the unemployed to know about.

The only reason I bring up the 1930s is because so much attention is given to the unemployment numbers for that time period. They were suffering then and are definitely suffering now.

I've heard too many people say the unemployment now is not as bad as then because the percent of unemployed is so much lower now. Believe me, I've heard this from many people, even the most educated. My understanding is the calculation is much different now.

I would like to be able to tell people sure, the unemployment rate was quoted at X%, but if you use those same formulas you will see that today's unemployment is at X%. I get the impression that people are unaware that unemployment is being tracked very differently now.

This is something I've been saying for years and has nothing to do with the current White House.
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Re: Hank Paulson--'Unemployment is going to remain at an unacceptable level in the U.S. for a number of years'

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