Job gains present economic 'puzzle'


By StoutFiles   Follow   Mon, 26 Mar 2012, 7:58am   1,832 views   20 comments
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http://money.cnn.com/2012/03/26/news/economy/bernanke-federal-reserve/index.htm?hpt=hp_t1

"Bernanke called those figures a 'puzzle.' For the unemployment rate to fall that significantly, the economy should have been growing much more quickly. "

Hey Bernanke! People are taking jobs at a much lower pay because their unemployment finally ran out! People aren't spending as much money as before fearing another recession! How much does this guy make to be so easily puzzled?

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  1. rootvg


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    1   9:16am Mon 26 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected  

    Fearing another recession? We HAVE to have one.

    You can't get to a growth economy from where we are right now.

  2. bubblesitter


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    2   9:19am Mon 26 Mar 2012   Share   Quote   Permalink   Like (1)   Dislike  

    StoutFiles says

    Hey Bernanke! People are taking jobs at a much lower pay because their unemployment finally ran out! People aren't spending as much money as before fearing another recession! How much does this guy make to be so easily puzzled?

    Isn't it amazing that this guy is in charge at Fed? In old days of monarchy a King used to disguise and merge among common people to find out what is happening at the lower level.

  3. rootvg


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    3   9:32am Mon 26 Mar 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected  

    bubblesitter says

    StoutFiles says

    Hey Bernanke! People are taking jobs at a much lower pay because their unemployment finally ran out! People aren't spending as much money as before fearing another recession! How much does this guy make to be so easily puzzled?

    Isn't it amazing that this guy is in charge at Fed? In old days of monarchy a King used to disguise and merge among common people to find out what is happening at the lower level.

    He's not going to be there much longer.

    Romney will replace him, odds on favorite right now is this guy:

    http://www.hoover.org/fellows/10298

    http://www.stanford.edu/~johntayl

    He also has a blog:

    http://www.johnbtaylorsblog.blogspot.com

    If the signals I'm seeing are correct, we ARE going back to the right.

  4. gary275


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    4   9:33am Mon 26 Mar 2012   Share   Quote   Permalink   Like (1)   Dislike  

    "By 1933, the height of the Depression, unemployment had risen from 3% to 25% of the nation’s workforce. Wages for those who still had jobs fell 42%. GDP was cut in half, from $103 to $55 billion. This was partly because of deflation, where prices fell 10% per year. Panicked government leaders passed the Smoot-Hawley tariffs to protect domestic industries and jobs. As a result, world trade plummeted 65% as measured in dollars and 25% in total number of units."

  5. FortWayne


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    5   9:41am Mon 26 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    Maybe they are lying about real unemployment rates, or maybe they simply don't understand how economy works. Neither option is good

  6. gary275


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    6   9:47am Mon 26 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    It was German loans in 1929 and in 2009 its chinese loans. Things seldom change.

    My question is what do you do to prepare yourself ?

  7. Bigsby


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    7   10:08am Mon 26 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    rootvg says

    He's not going to be there much longer.

    Romney will replace him, odds on favorite right now is this guy:

    http://www.hoover.org/fellows/10298

    http://www.stanford.edu/~johntayl

    He also has a blog:

    http://www.johnbtaylorsblog.blogspot.com

    If the signals I'm seeing are correct, we ARE going back to the right.

    You never left it.

    Anyway, I take your Romney prediction as a sign that Obama is a dead cert for reelection.

  8. zzyzzx


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    8   10:50am Mon 26 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    StoutFiles says

    Hey Bernanke! People are taking jobs at a much lower pay because their unemployment finally ran out! People aren't spending as much money as before fearing another recession! How much does this guy make to be so easily puzzled?

    Berneke is just as stupid as portrayed here:

  9. uomo_senza_nome


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    9   11:58am Mon 26 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    StoutFiles says

    "Bernanke called those figures a 'puzzle.' For the unemployment rate to fall that significantly, the economy should have been growing much more quickly. "

    unemployment rate is a statistical illusion, Smoke and mirrors.

    Here's the real deal. Civilian employment to population ratio.

    We're staring at a decade long depression: secular deleveraging.

    zzyzzx says

    Berneke is just as stupid as portrayed here:

    Funny pictures aside, I don't think he's outright stupid. He has stated that gold is a hedge against really really bad outcomes (tail risks as economists like to call it), which is completely true.

    He has also stated that Congress has to get its fiscal policies in order to get the economy to a more sustainable state. Actually I'd suspect he's strongly worried about the idiocy on the political spectrum.

  10. freak80


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    10   6:55pm Mon 26 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    gary275 says

    My question is what do you do to prepare yourself ?

    You get advice from our good friend Apocalypsefuck! Or was he kicked off the forum?

  11. thomas.wong1986


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    11   8:28pm Mon 26 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    StoutFiles says

    Hey Bernanke! People are taking jobs at a much lower pay because their unemployment finally ran out! People aren't spending as much money as before fearing another recession! How much does this guy make to be so easily puzzled?

    he worked in academia... never in the real world.

    He never saw a former software sales executive or a cost accounting manager who were working for former top F500 company suddenly working at Macys mens department.

  12. Dan8267


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    12   9:01pm Mon 26 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    StoutFiles says

    How much does this guy make to be so easily puzzled?

    He's a Keynesian.

  13. tatupu70


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    13   5:16am Tue 27 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    uomo_senza_nome says

    Here's the real deal. Civilian employment to population ratio.

    That's another interesting piece of data, but it has it's own flaws. It's heavily dependent on demographics and as the boomers begin retiring, that ratio will naturally decline.

  14. tatupu70


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    14   5:21am Tue 27 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    uomo_senza_nome says

    Funny pictures aside, I don't think he's outright stupid. He has stated that gold is a hedge against really really bad outcomes (tail risks as economists like to call it), which is completely true.

    Of course he's not stupid. Despite what all the self proclaimed geniuses on random Internet message boards might say.

  15. Bigsby


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    15   7:14am Tue 27 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    tatupu70 says

    uomo_senza_nome says

    Funny pictures aside, I don't think he's outright stupid. He has stated that gold is a hedge against really really bad outcomes (tail risks as economists like to call it), which is completely true.

    Of course he's not stupid. Despite what all the self proclaimed geniuses on random Internet message boards might say.

    He's obviously extremely smart, but smart people don't necessarily make the right decisions.

  16. tatupu70


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    16   8:07am Tue 27 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    Bigsby says

    He's obviously extremely smart, but smart people don't necessarily make the right decisions.

    Agreed. My only caveat is that we don't have the same information as he does. What looks obvious at face value may not be so simple once you get the full picture.

  17. StoutFiles


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    17   10:25am Tue 27 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    tatupu70 says

    Bigsby says

    He's obviously extremely smart, but smart people don't necessarily make the right decisions.

    Agreed. My only caveat is that we don't have the same information as he does. What looks obvious at face value may not be so simple once you get the full picture.

    The other theory is that he knows everything and plays dumb to keep the market stabilized. Fake confusion is better than acknowledging we're screwed and that we likely need another recession to fix the problem.

  18. uomo_senza_nome


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    18   11:20am Tue 27 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    tatupu70 says

    it has it's own flaws. It's heavily dependent on demographics and as the boomers begin retiring, that ratio will naturally decline.

    At least it's not fudged like the unemployment rate. Dropping people off the labor force and reducing a few percentage points on the unemployment rate can boost the stock market, but is not any meaningful recovery in the real economy. Labor market has been structurally destroyed with cheap credit.

  19. uomo_senza_nome


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    19   11:23am Tue 27 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    tatupu70 says

    My only caveat is that we don't have the same information as he does. What looks obvious at face value may not be so simple once you get the full picture.

    But we do know that he's stuck to the Keynesian dogma as far as his monetary prescriptions are concerned.

    Monetarily, we are total Keynesians. Fiscally, we are selective Keynesians, we want to be fiscally Keynesians when times are bad and we are never fiscally prudent when times are good. Keynes totally ignored the fact that politicians are morally corrupt and inept people.

  20. realitycheck


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    20   12:35pm Tue 27 Mar 2012   Share   Quote   Permalink   Like   Dislike  

    Ben is pretending that he doesn't know what is going on. He need excuse for another QE

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