G.A.C.O.L.B. Posted March 5, 2011 Share Posted March 5, 2011 I can say in my particular line of work, things are heating up very much. Ditto. I deliver pizzas (ftr, I'm a full-time student. So I'm not just a loser) and I really felt it when this recession hit. My tips were almost cut in half. But over this past month and a half or so, things have really started to turn around for the first time in like two years. Business is starting to boom and the size of my tips are better. It's just a damn shame gas is so high. On a more somber note, I did read that while these numbers are great, at this pace it's still going to take three years to get back to where we were pre-recession. And that's not taking into account all the people who are entering the workforce for the first time. Link to comment Share on other sites More sharing options...
NoCalMike Posted March 5, 2011 Share Posted March 5, 2011 Folks that want to blame, "Barney Frank" for "forcing banks to loan money to minorities and unqualified folks" It still doesn't explain why the banks were giving out the awful sub-prime loans when a recent statistic showed that up to 75% of borrowers qualified for, better and less risky loans. The banks were preying on people, using their fuzzy match and slick talk to sucker people into horrible positions. People were being scammed, plain and simple. Now, I understand there are multi-facet reasons for the overall crisis, but to suggest this is "Barney Frank's fault" is pretty ridiculous. Link to comment Share on other sites More sharing options...
War Paint Posted March 5, 2011 Share Posted March 5, 2011 Plus....wait until May when a new batch of seniors graduate from college....this number is only temporary Well, by then there will probably be another million people who will give up looking, so they won't be counted. That will probably keep the unemployment number lower. Link to comment Share on other sites More sharing options...
skinfan2k Posted March 5, 2011 Share Posted March 5, 2011 TBLTO, the graduate thing is just a myth. People graduate all the time, they change decisions to go back to school and whatever. You can say that seniors graduating in college in may, are unemployed for 3 months and go back to school in sept. And also, they aren't considered unemployed they are looking for employment Link to comment Share on other sites More sharing options...
Thiebear Posted March 5, 2011 Share Posted March 5, 2011 Folks that want to blame, "Barney Frank" for "forcing banks to loan money to minorities and unqualified folks" It still doesn't explain why the baks were giving out the awful sub-prime loans when a recent statistic showed that up to 75% of borrowers qualified for, better and less risky loans. The banks were preying on people, using their fuzzy match and slick talk to sucker people into horrible positions. People were being scammed, plain and simple. Now, I understand there are multi-facet reasons for the overall crisis, but to suggest this is "Barney Frank's fault" is pretty ridiculous. You realize Barney Frank was the Leader in charge of the Banks quite often. He and Dodd spent quite a bit of time denying the obvious. He is only one of many but he was a major player. Bush and Clinton etc. etc. Jamie Gorrelick is in there again of course. And yes people were getting what they couldn't afford thinking houses would never stop going up like gold is now.. It was unreal. Most were stupid. But Fannie and Freddie leveraging up to 60 to 1 is an embarrassment to common sense that we are still pouring money into. Link to comment Share on other sites More sharing options...
deejaydana Posted March 5, 2011 Share Posted March 5, 2011 The other big sin is that thru all the dire economic news of the past 3 years the gov't has done literally nothing to reign in and reform Fannie and Freddie. Nothing. Why is this? And as to those job numbers, they don't mean much at this point but I guess we'll take any positive news we can these days. Link to comment Share on other sites More sharing options...
Prosperity Posted March 5, 2011 Share Posted March 5, 2011 What do you get from this? maybe old people are retiring? bringing down participation rate? maybe students are continuing education for a longer period of time? illegal immigrants going back to their native lands? my best guesses the economist talked about this statistical anomaly a few days ago: http://www.economist.com/blogs/freeexchange/2011/03/americas_recovery http://www.cnbc.com/id/41911006Labor force participation dropped to a 30 year low. Explains this "good" unemployment number during this perilous period. All the sunshine day posters should check out the following: http://www.wnd.com/index.php?fa=PAGE.view&pageId=270957 did you find that through the power of google? Link to comment Share on other sites More sharing options...
Fergasun Posted March 5, 2011 Share Posted March 5, 2011 My wife worked as a loan officer with Navy Federal Credit Union. In her time there the Federal Government told them to loosen their lending guidelines because they were being too strict with requiring credit worthy borrowers. In this case "Regulation" was to require lending institutions to make riskier loans in order to address the social concern that minorities were not getting sufficient access to credit. Never mind that the credit worthiness of a borrower at NFCU is and was colorblind. The social reason behind the financial policy is a strong contributing factor to the problem. I'm pretty sure there's no law that says, "The Federal Government dictates your lending guidelines." Please tell me where this is in the US Code? Link to comment Share on other sites More sharing options...
twa Posted March 5, 2011 Share Posted March 5, 2011 maybe old people are retiring? bringing down participation rate?maybe students are continuing education for a longer period of time? illegal immigrants going back to their native lands? my best guesses I think those are good ones...add in more going to self employment as well as into the underground economy My wife quit working,I wish that was a option for me. add http://cofcc.org/2010/02/americas-underground-economy-continues-to-grow/ Tax revenues are falling far more rapidly at the federal, state and local level than would be expected by the small drop in real gross domestic product (GDP) and changes in tax law that have occurred since the recession began. The currency in circulation outside the U.S. Treasury, Federal Reserve banks and the vaults of depository institutions – that is, the currency held by individuals and businesses – has grown by 13.3 percent in the last two years, while real nominal (not inflation-adjusted) GDP has not grown at all, and real (inflation-adjusted) GDP incomes have fallen by more than 3 percent. With the growth of electronic means of payment and financial service providers, it would be expected that the currency component of GDP would fall, not rise. The underground economy refers to both legal activities, such as often found in construction and services industries where taxes are not withheld and paid, and illegal activities, such as drug dealing and prostitution. Link to comment Share on other sites More sharing options...
Larry Posted March 5, 2011 Share Posted March 5, 2011 The underground economy refers to both legal activities, such as often found in construction and services industries where taxes are not withheld and paid, and illegal activities, such as drug dealing and prostitution. Well, if prostitution is on the rise, then that's a good sign of economic growth. Link to comment Share on other sites More sharing options...
twa Posted March 6, 2011 Share Posted March 6, 2011 Not if they are selling it for a big mac and fries Link to comment Share on other sites More sharing options...
Larry Posted March 6, 2011 Share Posted March 6, 2011 Yeah, it occurred to me that an increase in prostitution could just indicate that the Republicans are back in control, in Washington. Link to comment Share on other sites More sharing options...
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