Global Economy Bursting?

[Terrel L. Shields]

plummeted all the way down to $104,000 a year. How will they eat on that?

The problem is that tort lawyers make $500,000 and small town lawyers make $35,000...in a good year. My lawyer (15+ in the biz) quit last year and went back to teaching school..Why? Health insurance, E & O, and dead beat clients. As a math teacher, she can make far more teaching and get her health insurance - and is young enough to draw a full retirement by 65.

As for trusting the gov numbers, why not? It includes government jobs and obviously the markets trusted that number far more than they do the ADP numbers..which I believe only samples non-public employees. Even construction was down and as the commentator said, "I didn't know there were any construction jobs left to lose."

Floods and tornados have had a significant impact on employment however, and I suspect new construction will increase in places like NC, AL, Mississippi Delta, Missouri and other other states hit hard in both residential damage and farm / crop damages. Farmers have been pretty idle until the last 30 days and they provide a lot of summer time jobs - grain storage, trucking, fuel sales, harvesting, etc.

 

[Randolph Kinney]

Poor jobs data stuns Wall Street, politicians

http://www.marketwatch.com/story/poor-jobs-data-stuns-wall-street-politicians-2011-07-08

“I think these numbers are a call to action for Washington to stop bickering ... and do the things to get the growth rate higher and create jobs. — Austan Goolsbee, chief economic adviser to President Barack Obama

“Today’s abysmal jobs report confirms what we all know – that President Obama has failed to get this economy moving again.” — Mitt Romney, Republican candidate for president

 

[EDWARD BERRY]

IN ROGERS THERE MUST BE 100 ROOFING JOBS DUE TO THE HAIL.

THIS DOES PUT SOME PEOPLE TO WORK, BUT IT MIGHT NOT HAIL NEXT YEAR--THEN WHAT?

I SEE NO NEW SIGNS OF ANY NEW CREATION OF JOBS-ONLY A MAINTENANCE OF WHAT WE HAVE.

I REALLY THING ITS GOING TO BE "HUNKER DOWN" ECONOMY FOR YEARS.

NW ARK WAS FOR YEARS AN EXPANDING ECONOMY-WALMART, TYSONS, GEORGES, ALLENS, TRUCKING OF ALL SORTS, INDIVIDUAL BUSINESSES, CATTLE, DAIRYING, etc. OTHER THAN MEXICAN RESTAURANTS, THERE IS NO EXPANSION.

 

[Couch Potato]

The problem is that tort lawyers make $500,000 and small town lawyers make $35,000...in a good year. My lawyer (15+ in the biz) quit last year and went back to teaching school..Why? Health insurance, E & O, and dead beat clients. As a math teacher, she can make far more teaching and get her health insurance - and is young enough to draw a full retirement by 65.

As for trusting the gov numbers, why not? It includes government jobs and obviously the markets trusted that number far more than they do the ADP numbers..which I believe only samples non-public employees. Even construction was down and as the commentator said, "I didn't know there were any construction jobs left to lose."

Floods and tornados have had a significant impact on employment however, and I suspect new construction will increase in places like NC, AL, Mississippi Delta, Missouri and other other states hit hard in both residential damage and farm / crop damages. Farmers have been pretty idle until the last 30 days and they provide a lot of summer time jobs - grain storage, trucking, fuel sales, harvesting, etc.

You don't have to explain that to me. As a math/computer teacher I just can't financially justify doing appraisal work these days.

On the other hand, the reported lawyer salary was average starting salary for new graduates, not for current salary of practicing lawyers who have established whether or not they can produce revenue. The average did not fall because the lower end of that scale went down, rather it was the top end that accounted for the bulk of the difference. As for the percentage not geting a job, the all time record year for employment saw nearly 9% not get a job. While te report posted is certainly not remarkable good news, it is hardly anything to get upset about either.

 

[Couch Potato]

Get out of the way.

Poor jobs data stuns Wall Street, politicians

http://www.marketwatch.com/story/poor-jobs-data-stuns-wall-street-politicians-2011-07-08

“I think these numbers are a call to action for Washington to stop bickering ... and do the things to get the growth rate higher and create jobs. — Austan Goolsbee, chief economic adviser to President Barack Obama

“Today’s abysmal jobs report confirms what we all know – that President Obama has failed to get this economy moving again.” — Mitt Romney, Republican candidate for president

Other than getting out of the way, what does President Obama or Washington have to do with people getting a job?

 

[Caterina Platt]

Other than getting out of the way, what does President Obama or Washington have to do with people getting a job?

Getting out of the way would be a start. Instead, we've had huge spending bills, and two very contraversial bills that have attempted to restructure two huge sectors of the economy.

The government doesn't create jobs. What the government should do is quit trying to manipulate and control the markets.

 

[Couch Potato]

Yes, the government is wasting so much time, energy, and money trying to make the world "fair" to everyone, they are totally neglecting the work they should do. Things could improve, but I don't think there is a chance they will. The arrogance of our government and society is just too great to recognize the problems created by the grand redistribution schemes. When the rioting begins here the government will be shocked and clueless as to what to do. It is not a question of if it will happen, but merely a question of when. The epidemic of lazy entitlement is just to great to cure at this point.

Brzezinski: Middle Class Unrest To Hit U.S.

http://www.infowars.com/brzezinski-middle-class-unrest-to-hit-u-s/

"... we're going to slide into intensified social conflicts, social hostility, some forms of radicalism, there is just going to be a sense that this is not a just society ..."

 

[prasercat]

Getting out of the way would be a start. Instead, we've had huge spending bills, and two very contraversial bills that have attempted to restructure two huge sectors of the economy.

The government doesn't create jobs. What the government should do is quit trying to manipulate and control the markets.

The government employs 2% of the nation's workforce and government jobs pay more than equivalent private sector jobs. That goes into consumer pockets which feeds into the economy and creates private sector jobs.

There will always be someone trying to manipulate the markets (any lawsuits against Wall Street firms or individuals lately for this very thing?)

The markets are manipulated daily, whether it is the price of a commodity, a stock or how many jobs we send abroad. I think what you are saying is, you would rather have a hedge fund, a large company or a drug cartel manipulating markets than the government of the US [The govenment is supposed to support the economic interests and prosperity of its people].

There isn't any thing or system or process that was created by human kind that can be left entirely on its own without oversight, maintenance and regulation. Can you name one thing man has created that doesn't need constant corrections and maintenance?

The "free economy" is an ideal, it never happened and it never will! - There are always those with their hands into the markets controlling them.

Government involvement should concentrate on optimizing or "tuning up" the markets, which is, manipulating them in a positive way. That may mean removing burdensome regulations that serve little or no purpose and it may mean improving regulation in areas where repeated abuses have been seen and which ultimately hurt the overall economy and our country's prosperity.

 

[Caterina Platt]

The government employs 2% of the nation's workforce and government jobs pay more than equivalent private sector jobs. That goes into consumer pockets which feeds into the economy and creates private sector jobs.

The funds that power the government and those jobs come from the private sector in the form of taxes. Further, your 2% figure only accounts for federal hires, and does not include state and municipal government jobs.

When state and local governments are considered this number jumps to 16% of the labor force.

The Bureau of Labor Statistics projected an employment increase of 10 percent over the 2008-18 period in federal employment. This projection was made prior to the passing of the new health care reform and banking regulatory legislation of 2010. The new health care legislation alone calls for the formation of 150 new regulatory agencies and commissions, and the financial sector needs many new regulatory personnel to manage failed banks and the Troubled Asset Relief Program (TARP) funds allocated to rescue our financial system.
The federal government now owns 60% of General Motors, Fanny Mae and Freddie Mac plus they took over 100% of the student loan program recently! Talk about GROWTH. The increase in federal employment will far exceed these earlier projections and there will be a substantial number of job openings as many Federal workers are expected to retire over the next decade, although job prospects are expected to vary by occupation.
Uncle Sam is this countries largest employer and hires about 2 % of the total civilian workforce and the federal sector is growing at its fastest pace in decades. Over the past two years total federal civil service has increased 10%, an additional 182,629 jobs. The diversity of work and the ability to transfer to other agencies and locations further improves your chances

From here: http://www.federaljobs.net/overview.htm

Why is it that market manipulation by private forces is considered a bad thing, but when it's done by the government via the Federal Reserve, subsidies, poorly conceived regulations, etc. it's a good thing?

For instance, why do you think college costs and medical costs have skyrocketed at rates far exceeding inflation? Because the costs aren't paid with hard dollars out of our pockets, but with either insurance funds, grants and/or federally subsidized loans.

 

[Randolph Kinney]

Other than getting out of the way, what does President Obama or Washington have to do with people getting a job?

Businesses and people respond to what the government does - i.e. Obamacare, cap and trade, EPA carbon regulations, and energy policies.

We see what the federal reserve did during the crisis. Savers are punished with 0% interest rates.

Not much confidence or incentive for taking risks for the small unprotected class.

Whatever the government is sowing, this will also be reaped. This country did not get where it is overnight.