http://mexicanoccupation.blogspot.com/2013/01/paul-krugman-obamas-depression-and.html
DURING OBAMA’S FIRST YEAR,
2/3s OF ALL JOBS WENT TO IMMIGRANTS, BOTH LEGAL AND ILLGALS. THIS IS HOW THE
DEMS KEEP CORPORATE PROFIT MARGINS HIGH AND WAGES DEPRESSED!
DURING OBAMA’S FIRST TERM
WORKPLACE ENFORCEMENT OF LAWS PROHIBITING THE EMPLOYMENT OF ILLEGALS WAS DOWN
70%. OBAMA HAS PROMISED LA RAZA THE OTHER 30% WILL BE GONE AS SOON AS AMNESTY
IS PASSED.
MEANWHILE, FOR THAT AMNESTY,
THE MEXICAN HORDES ARE CLIMBING OUR BORDERS THIS VERY DAY!
“Almost four
million workers have been out of work for
more than a year…we haven’t had anything like that since the ‘30s” [and]…
there’s lots of unused capacity…a lot of savings that have nowhere to go.”
U.S. Still
Suffering Depression Conditions: Paul Krugman
When
Federal Reserve officials sit down today for
their first policy-making meeting of the year they should consider continuing
easy monetary policy well into 2015, says Nobel prize-winning economist Paul Krugman.
“If
the Fed can convince people that it‘s going to keep the pedal to the metal…that
still has some leverage on the economy,” Krugman tells The Daily Ticker.
The
Fed had been saying it would maintain near-zero low rates until mid-2015, and
then until unemployment falls to 6.5% or below, but recently some Fed officials have suggested that the Fed
may consider slowing or ending its asset purchases (quantitative easing) sooner
than later.
The
economy now needs all the help it can get, says Krugman, author of End This Depression Now! whose paperback edition has just been released
with a new preface.
“The
U.S. economy is recovering but slowly,” and still experiencing “depression
conditions,” says Krugman. “Almost four
million workers have been out of work for
more than a year…we haven’t had anything like that since the ‘30s” [and]… there’s
lots of unused capacity…a lot of savings that have nowhere to go.”
Krugman’s
solution: More government spending, not less, in order to grow the economy. “A
growing economy is the best solution to all our problems,” says Krugman, also
an economics professor at Princeton University.
Krugman
is not concerned that more government spending will lead to bigger deficits.
“There is no good reason dealing with debt should be a priority today,” says
Krugman, and “the 10-year outlook for debt [in the U.S.] is not too bad.”
Even
a little more inflation in the U.S.--say 3 or 4%-- could be helpful, Krugman
says,
For
starters, he suggests that the federal government reverse state and local
budget cuts in infrastructure and education. “Just undoing that would lead a long
way back to full employment. It is in fact that easy,” says Krugman.
Critics
disagree and argue that this is not the time to add to a budget deficit, when
the debt-to-GDP ratio currently tops 100% of GDP.
Krugman’s
response: Japan is much more in debt than
the U.S. (its debt-to-GDP ratio near 200%) but has now instituted an expansion
of fiscal and monetary policy.
“Markets
are not punishing [Japan],” says Krugman. "Markets are rewarding
them."
Tell
Us What You Think!
Do
you agree with Paul Krugman that the U.S. government should spend more now to
revive the economy?
Got
a topic you’d like covered? Have a guest you’d like to see interviewed? We’d
love to hear from you! Send us an email at thedailyticker@yahoo.com.
*
WHY THE JOBS GO TO ILLEGALS:
“What employers really want in many cases by hiring
immigrants is to hold down wage costs, experts say.”
*
UNDER OBAMA, TWO-THIRDS OF JOBS GO TO HIS PARTY BASE OF
ILLEGALS!
"We have a situation
where the job market — the bottom fell out, yet we kept legal immigration
relatively high without even a national debate," he said. "As a
consequence, a lot of the job growth has been going to immigrants."
Mr. Obama did take action
this year to grant many illegal immigrants up to 30 years of age a tentative
legal status that prevents them from being deported and authorizes them to work
in the United States.
Some Republicans in
Congress have criticized Mr. Obama's policy, saying it violates his powers and
will mean more competition for scarce jobs.
*
Guess LA
RAZA his happy with OBAMA’S endless hispandering! THEY SHOULD BE!
There are only eight states with a larger
population than LOS ANGELES COUNTY, where 47% of those with a job are ILLEGALS
USING STOLEN SOCIAL SECURITY NUMBERS! This same mex gang infested county puts
out $600 million in welfare to illegals!
*
“The
inspections have determined that hundreds of companies throughout the U.S. have
significant
numbers of illegal immigrants on their payroll yet none have been punished, according to a Houston
newspaper that obtained internal ICE records through the Freedom of Information
Act. At least 430 audit cases listed as “closed” by the agency had high
percentages of workers with “questionable” documents yet they faced no
consequences.”
THE ENTIRE REASON THE BORDERS ARE LEFT OPEN
IS TO CUT WAGES!
“We could cut
unemployment in half simply by reclaiming the jobs taken by illegal workers,”
said Representative Lamar Smith of Texas,
co-chairman of the Reclaim American Jobs Caucus. “President Obama is on the
wrong side of the American people on immigration. The president should support
policies that help citizens and legal immigrants find the jobs they need and
deserve rather than fail to enforce immigration laws.”
*
“The principal
beneficiaries of our current immigration policy are affluent Americans who hire
immigrants at substandard wages for low-end work. Harvard economist George
Borjas estimates that American workers lose $190 billion annually in depressed
wages caused by the constant flooding of the labor market at the low-wage end.”
Christian Science Monitor
*
CHRISTIAN SCIENCE MONITOR
Why the new
jobs go to immigrants
By David R. Francis
Wall Street
cheered and stock prices rose when the US Labor Department announced last
Friday that employers had expanded their payrolls by 262,000 positions in
February.
But it
wasn't entirely good news. The statisticians also indicated that the share of
the adult population holding jobs had slipped slightly from January to 62.3
percent. That's now two full percentage points below the level in the
brief recession that began in March 2001
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