1. Home
  2. Electronics Design
  3. Re: BBC Puzzle

Re: BBC Puzzle

>> On Fri, 04 Apr 2008 23:26:56 GMT, Joerg

>> >> >> >> wrote: >> >Jim Thomps>> >> >>> "Jim Thompson" wrote in >> >>> messagenews: snipped-for-privacy@4ax.com... >> >>>> Why does the BBC report that the US jobless rate at 5.1% represents >> >>>> "serious recession", while reporting the UK rate _increasing_ to 5.5% >> >>>> means the good times are here ?:-) >> >> >>> Well jobless rate and recession aren't the same thing. Recession, in the

UK

> >>> at least, is considered to be the case when we have two successive

quarters

> >>> where economic growth is negative (or not positive?), I'm sure US is

similar

> >>> if not the same. >> >> >>> The BBC shouldn't be reporting it in that manner, where did you see it? >> >> >> "Latest Headlines" section of Firefox... >> >> >> >> >> >> which quotes Europeon banks... I find it hilarious that they bought >> >> bad US mortgage paper ;-) >> >> >They are just as guilty as many of ours. It boils down to a blatant lack >> >of due diligence. If I had been that negligent during corporate >> >aquisitions some companies would have me flogged. >> >> >> Then I googled on "jobless rate" UK and got the 5.5% number. >> >> >Don't know how it is in the UK but you can't always compare those >> >numbers. AFAIK in the US someone whose unemployment runs out isn't >> >counted anymore while in many European countries they can be on the dole >> >for several years. Probably they were referring to the increase from 4.8%. >> >> In the US "unemployed" refers to those seeking a job... if you sit on >> your hands you cease to get benefits and go off the unemployment >> rolls. At least in Arizona (it varies state-by-state) you must report >> weekly asking for a job placement, or you're history. >> >> ...Jim Thompson >> -- >> | James E.Thompson, P.E. | mens | > > >You more or less answered your own question. The unemployment rate in >the US is not a true measure of unemployment. In Europe, they have >more accurate statistics since their benefits don't expire.

And they have more creative definitions of "unemployed."

>There is some magic number of jobs that needs to be created each month >just due to the growth of the country. So when the number of jobs >declines, it is actually much worse than it sounds. > >Funny how the H1B parade seems to go on uninterrupted as the economy >sinks further in the GOP-created mire. It was less than two weeks ago >that Bush was saying "tax cuts work."

Income tax cuts do work, in the sense that income taxation destroys jobs, and cutting taxes, especially cutting corporate taxes, reduces the rate at which industries are exported. Not everybody can work for the government, you know.

John

Reply to
John Larkin
Loading thread data ...

the UK

quarters

similar

When you incur debt, it has to be serviced. Money used to service the debt can't be spent on other services. This is not rocket science.

Reply to
miso

in

the UK

quarters

similar

Governments service debt by printing money. Ordinary people can't do that.

But you seem to be asuming that higher tax rates produce more tax revenue. Past some rate, they don't. The USA is mostly past the peak-revenue rate. For a lot of businesses and individuals, tax avoidance is more valuable than actually producing stuff and earning money and creating jobs.

And even the peak-revenue rate is only good for the government class; it's bad for the population as a whole.

And most government "services" do more harm than good. This is not rocket science.

John

Reply to
John Larkin

wrote in

5.5%

in the UK

quarters

similar

it?

4.8%.

Oh, I think a little government watchdogging would have prevented this subprime fiasco.

Sadly, the government borrows money for the most part. Perhaps you heard of the national debt. This isn't rocket science.

Reply to
miso

wrote in

5.5%

in the UK

quarters

is similar

it?

lack

dole

4.8%.

The fiasco was seeded when the Clinton admin removed most of the barriers between morgage lending and wholesale market speculation. After that, it became profitable for morgage companies to bundle huge packages of mortgage debt and sell it on the market, where others made bundles and derivatives and all sorts of fun stuff from them. Since the first-line mortgage companies didn't hold the debt, but resold it, their incentive was to churn as many loans as possible, and the hell with quality.

The next periodic real-estate bubble came along, as they are wont to do, and this whole house of cards was ready to play.

There is a number that's called "the national debt" but by world standards, US public debt is moderate.

USA 62% of GDP Germany 65 France 71 Italy 121 Japan 157

But the USA has far better deomgraphics to be able to handle public debt. The other four countries above are facing declining, aging populations and a degrading technology base.

John

Reply to
John Larkin

[snip]

John, Why did you change the subject line to "taly"? That _does_not_ change the "References:" flag ;-)

...Jim Thompson

--
|  James E.Thompson, P.E.                           |    mens     |
|  Analog Innovations, Inc.                         |     et      |
|  Analog/Mixed-Signal ASIC's and Discrete Systems  |    manus    |
|  Phoenix, Arizona            Voice:(480)460-2350  |             |
|  E-mail Address at Website     Fax:(480)460-2142  |  Brass Rat  |
|       http://www.analog-innovations.com           |    1962     |
             
         America: Land of the Free, Because of the Brave
Reply to
Jim Thompson

Must have been some typing thing. I never learned to type. I wouldn't change a subject line on purpose.

John

Reply to
John Larkin

Start using your spell-checker as well ;-)

...Jim Thompson

--
|  James E.Thompson, P.E.                           |    mens     |
|  Analog Innovations, Inc.                         |     et      |
|  Analog/Mixed-Signal ASIC's and Discrete Systems  |    manus    |
|  Phoenix, Arizona            Voice:(480)460-2350  |             |
|  E-mail Address at Website     Fax:(480)460-2142  |  Brass Rat  |
|       http://www.analog-innovations.com           |    1962     |
             
         America: Land of the Free, Because of the Brave
Reply to
Jim Thompson

Why bother? It's just a newsgroup.

John

Reply to
John Larkin

ElectronDepot website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.