Piezoe's Queen opens her mouth - proves she deserves Fed Chair

[Ricter]

Actually according to the CBO this is the year when the stimulus starts costing us jobs. There was zero multiplier on the money we pissed away, and all it did was give state and local governments a couple more months until they inevitably had to cut back.

"The CBO estimated ARRA would positively impact GDP and employment. It projected an increase in the GDP of between 1.4 percent and 3.8 percent by the end of 2009, between 1.1 percent and 3.3 percent by the end of 2010, between 0.4 percent and 1.3 percent by the end of 2011, and a decrease of between zero and 0.2 percent beyond 2014.[63] The impact to employment would be an increase of 0.8 million to 2.3 million by the end of 2009, an increase of 1.2 million to 3.6 million by the end of 2010, an increase of 0.6 million to 1.9 million by the end of 2011, and declining increases in subsequent years as the U.S. labor market reaches nearly full employment, but never negative.[63] Decreases in GDP in 2014 and beyond are accounted for by crowding out, where government debt absorbs finances that would otherwise go toward investment.[63] A 2013 study by economists Stephen Marglin and Peter Spiegler found the stimulus had boosted GDP in line with CBO estimates.[64]"

So 2014 is the year crowding out appears?

Where did you see "zero multiplier"? That assertion was to my knowledge made in 2009 or so and subsequently debunked.

 

[Max E.]

So 2014 is the year crowding out appears?

So you admit that the stimulus is now costing us money, where is this full employment the keynesians were talking about?

Is this it?

 

[Covertibility]

Study: Retirees can explain the drop in the labor force since 2012

Federal Reserve Bank of Philadelphia -- On the Causes of Declines in the Labor Force Participation Rate

 

[Max E.]

Federal Reserve Bank of Philadelphia -- On the Causes of Declines in the Labor Force Participation Rate

From your article.

There is no question that more workers dropped out of the labor force due to
discouragement during and after the Great Recession and that there are more discouraged workers
now than before the recession. These facts clearly reflect the continued weakness of the U.S. labor market.

 

[Ricter]

So you admit that the stimulus is now costing us money, where is this full employment the keynesians were talking about?

Is this it?

No, I'm asking you if you think crowding appears this year, which is the explanation CBO gives for reduced job creation (never zero, though) when the stimulus dries up. That might help explain your claim (CBOs?) that the stimulus would begin dragging on the economy. But I see no signs of crowding out.

Again, your chart is LFPR.

 

[futurecurrents]

Funding for infrastructure work would help. But once again the worse than useless Republicans blocked it.

So Republican anti-regulatory polices led to the financial crisis and then their obstructionism prevented a faster recovery from it. Are they good for anything?

 

[dbphoenix]

Sorry, where was it that Jem said anything about the bailout?

anybody who could possibly post partisan crap on behalf of democrats right now is really trolling their ass off or paid to be a fool.

do we need to list the Obama successes?

how many presidents did you plan to elect which make jimmy carter and george w bush look good?

The drop in employment had nothing to do with Obama but rather with the Bush environment. The "partisan crap" applies to both sides. To ignore that means a perpetuation of the same mistakes.

 

[Ricter]

Funding for infrastructure work would help. But once again the worse than useless Republicans blocked it.

So Republican anti-regulatory polices led to the financial crisis and then their obstructionism prevented a faster recovery from it. Are they good for anything?

Yes, they are good for defending the interests of the 1%, and good at encouraging all the "soon to be" 1%'rs.

 

[futurecurrents]

Yes, they are good for defending the interests of the 1%, and good at encouraging all the "soon to be" 1%'rs.

Oh yeah. The 1%. They ARE important though. They control 40% of the wealth, and our government. What would a plutocracy be without them?

 

[dbphoenix]

No, I'm asking you if you think crowding appears this year, which is the explanation CBO gives for reduced job creation (never zero, though) when the stimulus dries up. That might help explain your claim (CBOs?) that the stimulus would begin dragging on the economy. But I see no signs of crowding out.

Again, your chart is LFPR.

Perhaps it would be helpful to relate the history of the "stimulus", for those who are shaky on it.