Tuesday, October 16, 2012

Man the Depth Charges, U-6 sighted! Au-ooga, au-ooga!

The right is suddenly obsessing over the U-6, they didn't care how high it was during the reign of the Bush Crime Family. The reality is that it's been steadily climbing ever since the Baby Boom started to retire, and the Millennium generation started to swell at the same time the Bush Depression eliminated their jobs. The newest crop of adults actually out numbers the Boomers, Social Security isn't in trouble if the 20 somethings can get good middle class jobs.

Everybody without a job is counted in the U-6 if they aren't in the Military, or in an institution. Grandma might think her cat is aunt Katy, but if she isn't in the nursing home, then she's counted as unemployed.

This is not to say that there isn't an unemployment problem, but the real reason is low wages. The former middle-class factory workers aren't supporting the rest of the economy like they used to. Rich people buying French jets and Italian yachts that they register in the Cayman Islands to avoid taxes aren't creating those jobs they promised us. The Trolls who post the talking points and call into radio shows do get paid, but it's not middle-class wages, they aren't creating jobs either. 

Cutting taxes and getting out of the way of the corporations and rich 'job creators' will only make that worse. Lower wages are also seen as the solution by the right, certainly the 'job creators' will hire more people if they will work for nothing but low quality food. Third world countries make that work so well. Why don't these Trolls just move to Somalia?


J. Screamer said...

I've said these goons would love the Somalia model. It has small government after all, just the pirates and the warlords. ... :-0