Unemployment
Are Obama’s policies burying the US economy?
Gerard Jackson Monday 28 March 2011
When Obama ran for president I warned that the man is a dogmatic leftist and Americans — those with any sense, that is — would rue the day he sat in the Oval Office. Since then I, along with many others, also pointed out that if unchecked his policies would result in economic stagnation and inflation. Well, this now seems to be the case. Read the rest of this entry »
American jobs, factories and investment: the picture is grim
Gerard Jackson Monday 21 March 2011
The Washington Post recently published a story revealing that if the hidden jobless were included in the unemployment rate it would jump to 10.5 per cent. (Hidden workforce challenges domestic economic recovery) This is a damning indictment of Obama’s economic policies and Bernanke’s monetary mismanagement. Even more damning is the fact that Obama appears completely unfazed by the situation. Read the rest of this entry »
The failure of Roosevelt’s New Deal proves why Obamanomics cannot work
Gerard Jackson Monday 8 November 2010
Americans are still regaled with tales that Obama’s spending binge and massive deficits are vital to an economic recovery. As evidence many of his supporters are citing Roosevelt’s New Deal as proof that deficits work. In fact, the New Deal was an economic disaster that kept the US in depression until WW II restored full employment.
Why the US economy is floundering and where it is going
Gerard Jackson Monday 18 October 2010
Last year I explained that there would no recovery and that manufacturing was heading for a slowdown. Both of these predictions came to pass. I am forever stressing that the boom-bust cycle is caused by monetary expansion largely consisting of phony bank deposits. In plain English, we call this credit expansion.
Posted in Bernanke, deficits, Federal Reserve (USA), Gerard Jackson, interest rates, Keynesianism, Obama, Recession, taxes, Unemployment, US economy
Obama’s leftwing beliefs created current conditions
Gerard Jackson 18 October 2010
I warned from day one that an Obama presidency would be a disaster for the US economy (not that it’s doing the body politic any good). Let us first clear the air about who is to blame for starting the recession. The culprit is lousy economics. If it were not for the central banks’ appalling lack of genuine monetary and capital theory the boom-bust cycle would be a thing of the past. (The early classical economists had a better understanding of the banking system and it affect on the economy than any central bank’s ‘research’ department.)
Will ‘technological unemployment’ be Obama and the Democrats latest defense?
Gerard Jackson Monday 11 October 2010
The news is out: things ain’t getting better, which means America’s phony media will have to start digging up more excuses for the Democrats’ failed economic policies. Alana Semuels, Harvard graduate and a ‘reporter” for the Los Angeles Times has come up with a real old chestnut: technological unemployment. (She gets an A for effort and an F minus for lack of imagination.)
Posted in Economic growth, Gerard Jackson, Investment, Recession, Unemployment, US economy, US unemployment
Recessions and so-called “debt deflation”
Frank Shostak Monday 11 October
Following the view of Irving Fisher some economists argue that deflation and the following depression is the result of over indebtedness. Fisher regarded over-indebtedness as a situation where the debt is out of line i.e. too big relatively to other economic factors. He held that
US economy: demand deficiency is not the problem and Keynesianism is not the solution
Gerard Jackson Monday 4 October 2010
In trying to explain the state of the American economy the commentariat is still blaming the lack of consumer demand. But as the classical economists always pointed out when presented with this fallacy, consumption is never a problem but production is.
Wages, inflation and the Great Depression: The Reserve still does not get it
Gerard Jackson Monday 4 October 2010
The mining boom is making it very clear that the Reserve Bank and our commentariat are unlikely to ever grasp the relationship between inflation and wages. Whenever it appears that wages are rising ‘too’ fast and that a shortage of skilled labour is emerging we are invariably warned that the RBA could be forced to raise interest rates to counter the inflationary effects of wages increases. This is nonsense. The view that rising wages in themselves can have an inflationary impact seems to have its roots in the discredited cost-of-production theory of prices.
Another member of our right stuffs it up on spending, jobs and recessions
Gerard Jackson Monday 4 October 2010
Dr Steven Kates rightly took issue with the Labor Government’s spending policy to counter the recession. This was too much for James Guest, who piously calls himself a “dry” (a self-styled “economic rationalist” who, to my knowledge, has contributed absolutely nothing to the advancement of the free market).
Why another stimulus won’t save the US economy
Dr Frank Shostak 7 Sept. – 3 Oct. 2010
Despite the massive fiscal stimulus package of nearly $800 billion approved by the Congress early last year, and trillions of dollars pumped by the Fed, the rally in various key economic data seems to be coming to an end. After falling to 32.5 in December 2008 the ISM manufacturing index peaked at 60.4 in April this year. In August the index stood at 56.3. Also the unemployment rate remains stubbornly high at 9.6per cent with almost 15 million Americans out of work.