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  • al.gore24 al.gore24 Aug 7, 2013 9:30 PM Flag

    US Economy ultimately headed for recovery from the recession it is ultimately headed for


    "I am a brilliant market predictor, so I can say with assurance that the market will definitely ultimately go down some after it goes up some, but not before it goes down some and then up some, too," said Schomo "Buggsy" O'Brien, in an interview with Breitbart news.

    Also, let me confidently predict that this daylight we are having now is ultimately headed for darkness, and this hot weather we are having will ultimately head towards colder weather -- perhaps in 3 or 4 months. But don't quote me on that.

    Now give me all your money so I can buy some gold."

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    • I have strong doubts that the US economy will ever fully recover...for two (interrelated) reasons:

      1) Increased capital mobility (and its corollary: offshoring jobs)
      "This is why I don’t understand why so many people still think the current economic doldrums is just a product of the banking/housing crisis and a poor government response to it. These are permanent changes in the economy. There simply are not stable jobs for Americans anymore. Extreme capital mobility has shifted more and more jobs overseas. At first this was just manufacturing, now it is lower level law positions and middle management. What jobs that haven’t been moved are in the process of being mechanized to the point that the jobs won’t exist any longer. People’s blind faith in capitalism’s ultimate beneficence to the American people have blinded themselves to the reality of 21st century America–a land increasingly without steady work or meaningful job creation, unless you are in the corporate elite."

      2) Minimizing US government's role in the economy (eg deregulation, cutting gov't revenue (taxes), cutting spending)
      The US govt remains the nation's single largest employer and, ultimately, its greatest job creator. However, public-sector jobs are in steep decline as a result of budget cuts. This has worsened the current economic situation and the nation’s unemployment rate. As a result of the policies mentioned above (and above), that will continue.

      If the economy adds about 208,000 jobs per month, which was the average monthly rate for the best year of job creation in the 2000s, then it will take until June 2020 – or seven years – to close the jobs gap. Given a more optimistic rate of 321,000 jobs per month, which was the average monthly rate of the best year of job creation in the 1990s, the economy will reach pre-recession employment levels by September 2016 – not for another three years.

      Fat chance.

    • Did you have some sort of childish meltdown ? 40 useless posts in a row. Do you have a job ? Anyone that devotes as much time to starting useless threads as you has to be a couple fries short of a happy meal. Go seek some help dude.

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