Posted on 06/19/2013 12:08:47 PM PDT by tcrlaf
Bernanke just now during his post-FED Meeting presser:
"Between 5% and 6% unemployment is what we consider to be "Full Employment"".
Remember when Nancy Pelosi and the TV told you that 4.3% Unemployment (1.8% in Indiana at the time) was "THE WORST ECONOMY SINCE THE GREAT DEPRESSION!!!" under Bush?
Makes me sick...especially in light of that constant screeching from Pelosi during the Bush years...where are the jobs? How I soooo despise these people.
Moving the goalposts.
4% used to be considered full employment
Would that be 5-6%, with an ever decreasing labor participation rate? Setting the bar rather low, aren’t we? Or, maybe, just maybe, his entire approach, while it works perfectly in an abstract computer model of an economy, is absolute garbage in the real world.
See how easy that was???
Probably reflects all those we’ve moved to the permanent welfare couch.
With what labor force participation rate?
That number is straight out of Keyenes’ macroeconomics. Not a big surprise to me.
Yeah, they just change how the unemployment rate is calculated, and voila!, their policies “work”.
And how many would be part-time but want to work full-time?
Labor participation is an anachronism. It’s only falling because QEx has worked so well that people can now choose to retire early (or so it has been written). Anyway, why work, when you can simply flip houses?
Well, now that you mention it...
These people are scum.
It was 3% in the ‘60s when LBJ said that we needed The Great Society programs to bring in the people who had been left out of the prosperity.
Now we have structural unemployment brought on by...the Great Society programs.
Yep, and it’s going to get worse with the implementation of Obamacare.
6% unemployment has been the standard for full employment as long as the 76 years that i’ve been alive!
LOL.
QEx = giving an alcoholic another drink...see he’s fixed!
I remember also during the Bush years there wasn’t enough poor people for them to fret about so they just quietly increased the threshhold for defining poverty.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.