tag:blogger.com,1999:blog-6616959642391988608.post3443520005874965196..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Nothing new on the jobs front, but some optimism is warrantedScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger16125tag:blogger.com,1999:blog-6616959642391988608.post-5572320922817796782013-07-09T04:38:21.583-07:002013-07-09T04:38:21.583-07:00Thank you for your reply, Mr Grannis..
Please, an...Thank you for your reply, Mr Grannis..<br /><br />Please, anyone whom wishes to enter the debate, do so...<br /><br />Allow me to defend the statements made by the author...<br /><br />"When Treasury sells debt to finance federal spending, it does not create GDP. It simply transfers money from the person who bought the bonds to the government. The government spends more, but the private Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-59857707328254237882013-07-08T14:42:58.450-07:002013-07-08T14:42:58.450-07:00The real problem with the US economy is increasing...The real problem with the US economy is increasingly obvious -- the US trade deficit is totally out of control -- more at:<br /><br />http://wjmc.blogspot.com/2013/07/us-trade-deficit-out-of-control.htmlMcKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-87998059011563542102013-07-08T14:06:13.566-07:002013-07-08T14:06:13.566-07:00I would caution against reading a whole lot into m...I would caution against reading a whole lot into monthly employment stats. Yes, the number of people working part time for economic reasons is up this year, but it is nevertheless almost 1 million less than it was three years ago. If anything, the trend in such part time employment is slightly down. <br /><br />Relative other recoveries, however, the number of part time workers remains stubbornlyScott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-81122457299701546022013-07-08T13:25:57.809-07:002013-07-08T13:25:57.809-07:00Nothing new on the jobs front, eh?
Virtually all ...Nothing new on the jobs front, eh?<br /><br />Virtually all of the job gains in the past year are part-time. Assuming the average part-timer works 20 hours a week, then the true full time equivalent job growth has been only 1/2 of the reported numbers.<br /><br />Here is an excerpt from a pbs.org blog post supporting this claim:<br /><br />"U-6 includes all of these people. What happened todjakelhttps://www.blogger.com/profile/06247798800719389756noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-66088730012270527912013-07-08T11:09:29.371-07:002013-07-08T11:09:29.371-07:00Since the bottom of employment (Feb-2010) the rate...Since the bottom of employment (Feb-2010) the rate of growth is a measly 1.5% per year. The 12 month 2% isn't making up for the big decline much. I'll use the 1.5% as my growth number. It ain't good.NormanBhttps://www.blogger.com/profile/05986709079442388236noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-72554830423572528742013-07-08T04:19:42.072-07:002013-07-08T04:19:42.072-07:00Its a nice post.The author is very optimistic abou...Its a nice post.The author is very optimistic about future.Always stay positive.<br /><br /><br /><br /><br /><br /><br /><a href="http://rapmi.com" rel="nofollow"> designer scarves </a>Anonymoushttps://www.blogger.com/profile/10682743292226660194noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-19244910196756771902013-07-07T20:34:33.007-07:002013-07-07T20:34:33.007-07:00Yes, excess reserves are kept at the Fed, but baks...Yes, excess reserves are kept at the Fed, but baks can increase lending if they so choose.<br /><br />Also, right now the Fed pays 0.25 percent interest on the excess reserves. It should halt that, to boost the incentive for banks to lend out. But our central bank is more attuned to the needs of banks than the need of the macroeconomy...<br /><br />Also, when the Fed buys US Treasuries, it is Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-78669130843383647012013-07-07T16:38:11.914-07:002013-07-07T16:38:11.914-07:00Scott, the educator. I always like your even-hand...Scott, the educator. I always like your even-handedness when explaining/clarifying positions on the comments section of your blog.sgt.red.blue.redhttps://www.blogger.com/profile/08132657702786638326noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-70518851176782998292013-07-07T12:06:21.256-07:002013-07-07T12:06:21.256-07:00Hans: the author of the article you link to is ign...Hans: the author of the article you link to is ignorant of how government debt and GDP work, and ignorant of how the Fed functions. When Treasury sells debt to finance federal spending, it does not create GDP. It simply transfers money from the person who bought the bonds to the government. The government spends more, but the private sector spends less. Also, QE has not created massive amounts ofScott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-2998788890785522232013-07-07T11:30:29.873-07:002013-07-07T11:30:29.873-07:00Let this be known to all, as I too was brought out...Let this be known to all, as I too was brought out of the darkest...<br /><br />I and many others have long stated, that this economy is not well, in fact, it is still rather quite sick...<br /><br />I have termed it as "The Great Phony Recovery"...<br /><br />Read the following and you will understand why there is no growth, let alone a recovery and why the great minds of our Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-72650245588867455262013-07-06T11:33:23.622-07:002013-07-06T11:33:23.622-07:00I am glad the author is so optimistic about the fu...I am glad the author is so optimistic about the future...<br /><br />http://www.aei-ideas.org/2013/05/red-tape-facts-regulatory-costs-are-now-the-second-largest-item-in-a-typical-familys-budget/<br /><br />Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-26810713224237131912013-07-06T07:49:51.068-07:002013-07-06T07:49:51.068-07:00The Wall Street Journal and others have reported t...The Wall Street Journal and others have reported that $60 to 80 Billion were withdrawn from bond funds in June 2013. Bill Gross's PIMCO Total Return Fund had $10 Billion outflow. According to Morningstar, the SEC 30 days yield on his flagship fund is now 1.84% and the year to date return is a negative 4.24% or 2.3 times the annual yield. Vanguard's Long-Term Bond Index Fund with a yield Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-47405363072373697622013-07-06T06:41:49.844-07:002013-07-06T06:41:49.844-07:00Congratulations to you and your wife on the birth ...Congratulations to you and your wife on the birth of your grandchild. And very best wishes for the proud parents.Johnhttps://www.blogger.com/profile/11652253509768573561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-49877137889557345642013-07-06T03:44:04.434-07:002013-07-06T03:44:04.434-07:00Actually, the US employment to population ratio po...Actually, the US employment to population ratio posted a two year gain, which does suggest a trend -- what we see today is what the rest of the 21st century will look like -- most of the job increases were in retail and healthcare aids, where wages remain food stamp eligible unfortunately -- more at:<br /><br />http://wjmc.blogspot.com/2013/07/us-employment-to-population-ratio-shows.htmlMcKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-52796457119447986272013-07-05T19:31:40.447-07:002013-07-05T19:31:40.447-07:00. And it's managed to grow despite the enormou.... And it's managed to grow despite the enormous monetary uncertainty created by the Fed's unprecedented Quantitative Easing.--Scott Grannis.<br /><br />The uncertainty is caused the Fed's refusal to explain QE in terms of economic goals, not mechanisms.<br /><br />That is, "We will do $100 billion a month in QE, and we will not taper down until we see inflation over 2.5 percent, Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-57086095936231886972013-07-05T19:06:27.482-07:002013-07-05T19:06:27.482-07:00Congratulations grandpa!
I am less optimistic abou...Congratulations grandpa!<br />I am less optimistic about the next year or so in economy, but 2014 should catch up if not exceed the peak employment of 2007.<br /><br />Nothing could generate more optimism than the repeal of Obamacare. It ain’t going to happen. It would be too embarrassing. They could only replace it with a single payer system which would be a disaster.<br /><br />We have to Anonymousnoreply@blogger.com