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Breaking: UNEMPLOYMENT TO REACH 50% By 2018 and 100% By 2029!
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Thread: Breaking: UNEMPLOYMENT TO REACH 50% By 2018 and 100% By 2029!

  1. #1
    Jake is offline Silver Seeker Senior Member Site Admin
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    Default Breaking: UNEMPLOYMENT TO REACH 50% By 2018 and 100% By 2029!

    ``````````````
    Last edited by Jake; 11th March 2010 at 11:17.

  2. #2
    Join Date
    Jun 2008
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    Default

    At that rate we would never make it past 2018 anyway.

  3. #3
    Join Date
    Feb 2009
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    Too Far Out To Get Back
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    Default It Didn't Work For Me, Either

    I was hanging out under the parabola with a linear curve, heavily utilizing, and just as I was about to introduce my single variable, I bifurcated all over the place.

    That's calculus for ya!
    “Most of our so-called reasoning consists in finding arguments for going on believing as we already do.”
    - James Harvey Robinson

    "The more we convince others, the more we convince ourselves."
    - The Tongue and Quill

  4. #4
    cowboycarl04 is offline Silver Seeker Senior Member Site Admin
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    Default

    I can see the headlines for 2028 now.

    "Unemployment up to 99.5%. Only 1 Walmart per Congressional District now open 24 hours to serve everyone's needs... BETTER THAN EXPECTED"

  5. #5
    Join Date
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    Default

    The sad thing, Obama would actually love it if unemployment numbers were that high.

  6. #6
    Join Date
    Apr 2009
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    Thumbs down

    Quote Originally Posted by cowboycarl04 View Post
    I can see the headlines for 2028 now.

    "Unemployment up to 99.5%. Only 1 Walmart per Congressional District now open 24 hours to serve everyone's needs... BETTER THAN EXPECTED"
    With my Luck, I'd be the only who would have to get up early and go to work,
    while the rest of you were sleeping in, and i'd be working at walmart
    Bummer

  7. #7
    Join Date
    Apr 2009
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    452

    Exclamation reality check

    I believe some company just laid off another 8000 workers. I heared over the radio today as I was on my way home. How can the stock market be doing so well if there is no MFG going on or exports? I also hear the stockmarket is going to do well the next six months, but many of you here say sept/oct crash Im very interested in seeing how things pan out how about you ladies & gentlemen?

  8. #8
    Join Date
    Apr 2009
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    459

    Default

    Seeing as how the world ends in 2012 anyway according to some its a moot point
    "I know where Daddy keeps his Silver Shhhhhh"(I loves my precious hehehe)

  9. #9
    Join Date
    Jan 2009
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    119

    Default

    At least the OP understands the limitations of linear extrapolation! Some people do this in all seriousness.

    But seriously, unemployment will continue to rise. How can it not? As people max out their credit cards and drain their retirement accounts, they stop eating out and other unnecessary expenses. As this happens the service sector "trims" down.

    Eventually China and other vendors will cut off our credit and so manufacturing jobs will return to the US, but they will be minimum wage jobs - and if the popular outrage doesn't increase, those jobs will be filled by illegals working at half the minimum wage.

    Of course, if things pan out as I expect and the US tries to inflate it's way out of medicare and other obligations, $7.25 an hour for 8 hours will just be enough to buy low end food for 4 people for one day.

    That's an improvement over the iron law of wages, which says unskilled labor will eventually reach a pay level that is just enough to buy food for the laborer for one day. (which is pretty close to unskilled wages in China).

    Keep stacking silver if you got dry powder (which I don't).

  10. #10
    Join Date
    Jan 2009
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    Default

    Quote Originally Posted by Daphne64 View Post
    That's an improvement over the iron law of wages, which says unskilled labor will eventually reach a pay level that is just enough to buy food for the laborer for one day. (which is pretty close to unskilled wages in China).
    I've never heard of this iron law of wages before, and I'm a bit of a historian. It makes sense mathematically, after all, why work for anyone if the wages won't even feed you. Owe your life to the company store even as you work for them. Could you give me some references, some historical examples and context please?

    As I have studied it, daily wages for an unskilled worker in the US today seem to be about 6-8 times what a person can live on with food alone for a day. So if you live in a tent or cardboard box, 1 laborer can support 7 nonlaborers. Mind you, this is bad food and nothing else, not even toilet paper.

    Direct references are frustratingly elusive.
    Last edited by Argyria; 28th July 2009 at 12:40.

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