tag:blogger.com,1999:blog-6616959642391988608.post1787500416831994277..comments2024-03-18T13:22:06.536-07:00Comments on Calafia Beach Pundit: The labor situation is far from direScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6616959642391988608.post-8456870672495424702008-11-21T10:00:00.000-08:002008-11-21T10:00:00.000-08:00Mark: I agree that the unemployment rate will like...Mark: I agree that the unemployment rate will likely move higher. I'm hoping it doesn't go dramatically higher. After all, we've had bad news making headlines for well over a year<BR/><BR/>I'm not sure I agree that the decline in median income was tied to credit. "Credit" is a slippery term to begin with, and it doesn't create or destroy growth necessarily, nor does an expansion of credit due to Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-57884903503323398392008-11-21T05:18:00.000-08:002008-11-21T05:18:00.000-08:00Another 30,000 feet view of things seems to be tha...Another 30,000 feet view of things seems to be that real median income in 2007 is below the level in 2001 when the recession ended (according to the Census Bureau); yet, during that time housing and stocks had a huge boom. Since income did not go up, and I will add that inflation did not go down, that entire boom was the result of credit expansion. If credit had stayed proportional to incomes,Mark Gerberhttps://www.blogger.com/profile/07980096984624964261noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-40309716995504485972008-11-21T04:58:00.000-08:002008-11-21T04:58:00.000-08:00Indeed, this is a terrific chart that I have wonde...Indeed, this is a terrific chart that I have wondered about. It seems the financial media, like most media, thrives on presenting the most schocking take on facts and figures while rarely putting them in context. If it bleeds, it leads is still alive and well in the information age.<BR/><BR/>I recall CNBC being described as bubble vision during the dot com boom, and it sure felt that way Mark Gerberhttps://www.blogger.com/profile/07980096984624964261noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-37395746620331361002008-11-20T21:28:00.000-08:002008-11-20T21:28:00.000-08:00Thanks!Thanks!Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-18402913510552671142008-11-20T19:59:00.000-08:002008-11-20T19:59:00.000-08:00I was wondering earlier today what a chart like th...I was wondering earlier today what a chart like this would look like ... we keep hearing that "jobless claims are the most since 1991" or "the most since 1982" or whatever, without correcting for the growth in the US labor force during the last quarter-century. I've enjoyed your blog a lot and I love the graphics you generate to support your arguments.Anonymousnoreply@blogger.com