On 12/6/10 9:05 PM, Robert Naiman wrote: > I'm glad somebody remembered Keynes 101. > > http://www.theatlantic.com/business/archive/2010/12/why-liberals-shouldnt-despair-about-the-bush-tax-cut-deal/67541 > > Atlantic Monthly > > Why Liberals Shouldn't Despair About the Bush Tax Cut Deal > > By Derek Thompson > > The White House and Congressional Republicans are close to a deal that > would extend the entire Bush tax cuts, including for the contentious > top two percent, for two or three years. In return, crestfallen > Democrats would get a significant extension of unemployment benefits. >
Derek Thompson, like 90 percent of the people working at the Atlantic, is a cretin. http://www.theatlantic.com/business/archive/2010/11/here-come-the-jobs-the-case-for-economic-optimism-in-2011/66159/ Here Come the Jobs! The Case for Economic Optimism in 2011 Nov 5 2010, 11:20 AM ET 4 Today's unemployment report is the best news we've heard from the labor market in half a year. After months of flat job growth, this is equivalent of calling it the warmest ice cube in the fridge. The private sector added 159,000 jobs, but the unemployment rate stayed frozen at 9.6 percent. Today, the jobs picture is a tug-of-war between the private and public sector. Private companies are tugging toward growth, adding an average of 111,000 jobs each month this year, nearly enough to keep up with population growth. But federal, state and local governments are contracting by 24,000 jobs a month. But underneath the top-line numbers, there is good news stirring. It has to do with you -- yes you -- and your falling productivity. While productivity inched up in yesterday's report, workers' output-per-hour has stalled in the last year. That sounds bad. Higher productivity points to higher living standards. But in a recession, we want productivity numbers to hit a ceiling. That means employers have run their current employees ragged and the only way to make more stuff is to hire more workers. More workers means lower unemployment and higher demand. (clip) _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
