Jobless Rate Worst Since 1974

[givemebackmycountry]

Jobless Rate Worst Since 1974
7.6%

Pound this home:


NOTHING trickled down. NOTHING. Years of trickle-down/Milton Friedman/supply-side/Ronald Fucking Reagan/voodoo/VERY Republican economics has failed America AGAIN.

Tax cuts for the top are hoarded by the wealthy corporate owners. There are no loaves and fishes raining down on their employees. There never was and there never ever will be.


That's simple enough for even the dumbest supply-sider to understand.

Mass layoffs across almost every line of business catapulted the nation's unemployment rate to 7.6 percent in January and lent more urgency to Washington's attempt to quickly hammer out an economic stimulus package.

Friday's data from the Labor Department was a laundry list of misery milestones: The most jobs lost in one month since 1974, the highest unemployment rate since 1992, the largest one-month drop in factory jobs since 1982 and the most jobs lost in 12 months since the goverment began keeping records in 1939.

The report showed the terrible toll the drawn-out recession is having on workers and companies. It also puts even more pressure on President Barack Obama to revive the economy.

Here's a wacky idea. Put some goddamn pressure on the obstructionists. Kick some Republican ass and jam these numbers into their fat flopping faces. They MUST take responsibility for this.

[Jackpine Radical]

1. Supply side economics works just fine.

Of COURSE nothing trickled down. Of COURSE the condition of the poor slowly eroded while the rich got immeasurably richer.

That was the POINT, Goddammit.

What part of supply-side economics don't you get?

[madrchsod]

2. 1974 was the start of the decline of the american heavy industry

after the recovery the the industrial corporations and their bankers started moving profits into south korea,japan and taiwan. american labor became to "expensive" to return the profit that the stockholders demanded.

this time we have no industry left to work our way out of this hole. the idea of creating new industry is nice but it demands capital and investors who will be willing to accept less return now for a long term gain