12/07/2009
From the Notes: The future regulation in the past
- Are there any studies on what the effects of the economy would have been assuming regulatory laws that are currently being legislated (reaction to current financial crisis) were in place during the late 1990's - 2000 boom?
-- Would the public/Congress have been receptive to these policy changes during the boom times?
--- I assume not receptive because even after a near meltdown of the system (2007-2008), policies are still difficult to reform.
---- Why is this? (pressure from pro-business groups, status quo is comfort zone, etc?)
----- If we assume current legislated policies were in place back then, what changes would we probably see in today's economy (i.e. Would there have been a financial crisis)?
------ Would these changes convince the public/Congress?
-- Would the public/Congress have been receptive to these policy changes during the boom times?
--- I assume not receptive because even after a near meltdown of the system (2007-2008), policies are still difficult to reform.
---- Why is this? (pressure from pro-business groups, status quo is comfort zone, etc?)
----- If we assume current legislated policies were in place back then, what changes would we probably see in today's economy (i.e. Would there have been a financial crisis)?
------ Would these changes convince the public/Congress?
11/06/2009
U-3 vs. U-6
Today the Labor department reported the unemployment rate is now 10.2%, a depressing psychological barrier to a grim economy. But what I don't understand is why the MSM and the government continue to push this figure. If they wanted to be really honest about unemployment, we would have been "celebrating" the true double-digit rate back in 2008 by looking at the U-6 rate. That's the rate I hope is used more and more.
As the link states, the U-6 rate is really anybody who doesn't have a full-time job that wants one, even those who gave up looking for a job. This is what we're dealing with. It's really 17.5% unemployment.
The U-3 rate is used purely for political reasons. I see no other relevant reason why this is the rate du jour. You would think the MSM would jump at the U-6 rate since they love a depressing and dramatic story.
As the link states, the U-6 rate is really anybody who doesn't have a full-time job that wants one, even those who gave up looking for a job. This is what we're dealing with. It's really 17.5% unemployment.
The U-3 rate is used purely for political reasons. I see no other relevant reason why this is the rate du jour. You would think the MSM would jump at the U-6 rate since they love a depressing and dramatic story.
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