Comments on: The stupids http://tbogg.firedoglake.com/2007/12/26/the-stupids/ "...a somewhat popular blogger" Fri, 19 Mar 2010 14:28:36 -0500 http://wordpress.org/?v=2.9.1 hourly 1 By: captphealy http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2134 captphealy Thu, 27 Dec 2007 16:22:33 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2134 <p><em>Recession Season, what’s your reason?<br /> “Folks lust after money, they’re findin’ it pleasin’.”<br /> Recession Season, who’re you squeezin’?<br /> “It’s thos middle class people whose wages are freezin’…”</em></p> Recession Season, what’s your reason?
“Folks lust after money, they’re findin’ it pleasin’.”
Recession Season, who’re you squeezin’?
“It’s thos middle class people whose wages are freezin’…”

]]> By: Cliff105 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2123 Cliff105 Thu, 27 Dec 2007 04:36:51 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2123 <p>So is this the official start of Recession Season?</p> So is this the official start of Recession Season?

]]> By: gmoke http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2122 gmoke Thu, 27 Dec 2007 03:18:01 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2122 <p>The normal practice is that economic figures are usually not adjusted for inflation and that job figures do not include “discouraged workers,” those who have used up their unemployment and are no longer actively looking for work.</p> <p>Checked with theoildrum.com today and it still looks like peak oil happened a year or two ago, depending upon how and exactly what you count. Not that anybody in power in the US or Europe seems to have noticed. Certainly, the media hasn’t. Whenever they write about oil and gas prices, they never write about world oil production numbers in context historically.</p> <p>Of course, let’s not talk about the coming catastrophe that climate change is either.</p> <p>Oh, and isn’t there a war or two going on too?</p> The normal practice is that economic figures are usually not adjusted for inflation and that job figures do not include “discouraged workers,” those who have used up their unemployment and are no longer actively looking for work.

Checked with theoildrum.com today and it still looks like peak oil happened a year or two ago, depending upon how and exactly what you count. Not that anybody in power in the US or Europe seems to have noticed. Certainly, the media hasn’t. Whenever they write about oil and gas prices, they never write about world oil production numbers in context historically.

Of course, let’s not talk about the coming catastrophe that climate change is either.

Oh, and isn’t there a war or two going on too?

]]> By: readerOfTeaLeaves http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2121 readerOfTeaLeaves Thu, 27 Dec 2007 02:24:57 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2121 <p>Most succinct explanation I’ve encountered. Thanks.</p> <p>Worth noting that the first OPEC ‘oil crisis’ preceded those events.<br /> But yeah, greed and unrealistic expectations sure put a wrench in the underlying economics.</p> <p>Plus, we haven’t even touched on the ‘financialization’ of the US economy since the 1970s.<br /> Nor the changes in campaign laws, which drive who gets elected, which drive what gets legislated, which drive what economic sectors develop.</p> Most succinct explanation I’ve encountered. Thanks.

Worth noting that the first OPEC ‘oil crisis’ preceded those events.
But yeah, greed and unrealistic expectations sure put a wrench in the underlying economics.

Plus, we haven’t even touched on the ‘financialization’ of the US economy since the 1970s.
Nor the changes in campaign laws, which drive who gets elected, which drive what gets legislated, which drive what economic sectors develop.

]]> By: gttim http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2120 gttim Thu, 27 Dec 2007 02:19:45 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2120 <p>I have a few friends who work retail, some off commission. They are all bitching. Most are down about 25% they figure. Not a single one is talking about the great holiday season they are having.</p> <p>I also know several builders and several people working real estate. They are all looking for work in other fields. Everybody appears to be scrambling. This is not going to be pretty.</p> I have a few friends who work retail, some off commission. They are all bitching. Most are down about 25% they figure. Not a single one is talking about the great holiday season they are having.

I also know several builders and several people working real estate. They are all looking for work in other fields. Everybody appears to be scrambling. This is not going to be pretty.

]]> By: captphealy http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2119 captphealy Thu, 27 Dec 2007 01:09:52 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2119 <p>Never assume anything. What’s the matter, didn’t you ever watch “The Odd Couple” (the TV version)?</p> Never assume anything. What’s the matter, didn’t you ever watch “The Odd Couple” (the TV version)?

]]> By: Tortoise http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2118 Tortoise Thu, 27 Dec 2007 00:45:32 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2118 <p>Its just good ol’ Republican logic - yes, we lose money on each sale, but we make it up on volume.</p> Its just good ol’ Republican logic – yes, we lose money on each sale, but we make it up on volume.

]]> By: fauxmaxbaer http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2117 fauxmaxbaer Wed, 26 Dec 2007 21:30:34 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2117 <p>I assumed they had at least adjusted the numbers for inflation. Made an ass out of me anyway.</p> I assumed they had at least adjusted the numbers for inflation. Made an ass out of me anyway.

]]> By: MrTentacle http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2116 MrTentacle Wed, 26 Dec 2007 21:13:30 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2116 <p>Along with “Growth” as a phony metric of economic strength we also got “job creation” as a phony metric of employment. This came to prominence in the Reagan years to show how “effective” Reagonomics was, as skilled jobs paying a living wage with good benefits were shipped offshore in bulk and and were replaced with low-wage jobs with limited or no benefits. “But look at all there <em>new jobs</em>“. More voodoo as the Rethugs worked to destroy the middle class.</p> Along with “Growth” as a phony metric of economic strength we also got “job creation” as a phony metric of employment. This came to prominence in the Reagan years to show how “effective” Reagonomics was, as skilled jobs paying a living wage with good benefits were shipped offshore in bulk and and were replaced with low-wage jobs with limited or no benefits. “But look at all there new jobs“. More voodoo as the Rethugs worked to destroy the middle class.

]]> By: DrDick http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2115 DrDick Wed, 26 Dec 2007 20:44:26 +0000 http://tbogg.firedoglake.com/2007/12/26/the-stupids/#comment-2115 <p>The whole “growth” phenomenon dates back to the 1970s and the work of corporate raiders like Carl Icahn and T. Boone Pickens who claimed that corporations were not providing sufficient return on investment. Led to the so called “shareholder revolt”, a clever euphemism for a bunch of greedy investors shouting that their interests trumped everything else. They also started insisting on never ending growth in profits (aqnd thus returns on investment. This is an obviously absurd demand. Only companies in emergent industries (like computers in the 1980s) or those with radical innovations (cell phones) can expect ongoing growth. Mature markets, like automobiles or home appliances, are generally stable (hopefully) over the long term. The proper measure of performance there is stable profitability and investment in R & D. Most of what is wrong with business and the economy date to this event.</p> The whole “growth” phenomenon dates back to the 1970s and the work of corporate raiders like Carl Icahn and T. Boone Pickens who claimed that corporations were not providing sufficient return on investment. Led to the so called “shareholder revolt”, a clever euphemism for a bunch of greedy investors shouting that their interests trumped everything else. They also started insisting on never ending growth in profits (aqnd thus returns on investment. This is an obviously absurd demand. Only companies in emergent industries (like computers in the 1980s) or those with radical innovations (cell phones) can expect ongoing growth. Mature markets, like automobiles or home appliances, are generally stable (hopefully) over the long term. The proper measure of performance there is stable profitability and investment in R & D. Most of what is wrong with business and the economy date to this event.

]]>