Comments on: Black Unemployment — Who Gets The Credit?

By: Sierra Choi

Sierra Choi — Thu, 01 Feb 2018 16:06:00 +0000

In reply to Tim Bates. No because the Great Recession began recovery in early 2010, and President Obama had already been in office for a couple of years. However, the Great Recession began as a direct correlation of the Iraq War, so that was an effect of the Bush II administration.

By: Tim Bates

Tim Bates — Wed, 31 Jan 2018 15:08:00 +0000

In reply to Sierra Choi. So following that logic, the Recovery from the "great Recession" in 09-10 is directly the credit of GW Bush!

By: Sierra Choi

Sierra Choi — Wed, 31 Jan 2018 02:29:00 +0000

To be fair, JLM, analysing the graph, it appears that it was distinctly in 2012 when the downtrend began, so I would extrapolate here that is was the Obama Administration that was responsible for the downtrend in employment. All effects of the Trump Administration would be seen beginning in 2020 as many policies in effect wouldn’t take place until after a President has been in office for a couple of years.

In addition, former President Obama is co-founder of the Obama Foundation, so he’s not “unemployed” lol.

By: rainmaker

rainmaker — Tue, 30 Jan 2018 22:59:00 +0000

How have the stats on labor force participation changed under Trump?

Surely that’s the stat that really counts rather than unemployment?

By: sigmaalgebra

sigmaalgebra — Tue, 30 Jan 2018 19:39:00 +0000

In reply to JLM. Neither. It took us 10 years. We could have done it in 90 days. With any sense at all, we would not have had the housing bubble. For that, blame W and Fannie Mae Chair F. Raines.

By: sigmaalgebra

sigmaalgebra — Tue, 30 Jan 2018 19:34:00 +0000

It took us 12 years from the start to the end of the Great Depression. In the US there was massive unemployment, loan defaults, deaths, family destruction, psychological and social harm, loss of psychological capital, lost productivity — no doubt the usual crime, domestic violence, alcohol dependence, divorce, harm to children, etc. So, the usual results.

So, what’d we do? We just sat there and let people suffer, all for no good reason. Even a Betty Boop cartoon had it right on what to do, but we didn’t do it.

Well, the disaster spread to all the more industrialized countries. So, too soon we got a dictatorship in Germany. Right away he kept his promise — get the German economy going again. But then he also wanted the low countries, much of the Balkans, Poland, Norway, the oil fields of Arabia, most of Russia west of a line from Stalingrad to Moscow to Leningrad, maybe England, about half of France, a buddy in Spain, the Baltics, IIRC Greece, etc.

Soon Germany, Italy, and Japan started shooting at us.

Then we got out of the Great Depression in 90 days flat at which time everyone had about two jobs and three offers.

But we had 12 destructive years, all because we insisted on being dumber even than Betty Boop.

Then in 2008 we had another financial bubble burst. Then, as in the graph, this time it took us not 12 years to get out of the Great Recession but only 10 years.

Are we learning yet? Not really.

By: JLM

JLM — Tue, 30 Jan 2018 18:29:00 +0000

.
Who fairly gets credit for the dramatically improved level of black unemployment? President Obama or President Trump?

http://themusingsofthebigredcar.com/6213-2/

You decide. Thanks, Obama? Thanks, Trump?

BRC
http://www.themusingsofthebigredcar.com