Disclosure: Received a C or a B in my one college statistical course mandatory for all B.A.s at Lehight [as well as two semesters of Calculus]! WELL I really don’t understand statistics but do like the graphs. Anyhow see the following:
Whether this particular data set is accurate or not IMO Obama second term is doomed by domestic unemployment. How he and his administration put the FIRE sector in front of jobs will always remain a fundamental mystery to me. It is clear from what we know that FDR did exactly the opposite even though the arguments over the second depression in 1938 seem to have some merit on both sides. And WWII did impact totally the Labor Picture for another generation. That said hoping that warfare is not the new version of full employment opportunity.
Readers of my blog posts know that I believe domestic events do not control the US future or its success or failure. It is no longer within US soft or hard power to control other nation-states that may wish US harm or just want their own share of the world’s resources. Extractive industries will always together with agriculture provide some basis for an economy for the US in the world of the next few centuries. But we may be a very different country just within two decades. I pinpoint the Presidential election of 2028 as the key event of the 21st Century for the US. Why? Because since about 1992 the US has been largely fooling around and not being serious about the challenges it faces. Perhaps other nation-states are not serious either. I still believe that the Soviet Union lost and we (US) did not win the Cold War. Internal weaknesses in the Soviet state finally caused the internal collapse. And now of course it is purely extractive resources that has allowed the PUTINs in Russia and other oligarchs to pretent that Russia has the power to contend with the US and elsewhere in the 21st Century.
Instead of taking on the oligarchs in this country, and those who have totally corrupted the system for their personal benefit, the current administration has ducked and weaved when it needed to plant its feet. Thus, still pretending they will be re-elected expect that bobbing and weaving will continue to be the hall mark of this era and the Obama WH.
Let’s face it the banks are continuing to be propped up when they have no real business plan anymore. Why one might ask? Commercial real estate loans alone that are non-performing if valued at the true value would sink another 25% of the smaller banks. There is a reason that GS does not have much of its portfolio in real estate. What I call the Japanese sickness. Real estate values is an unsound choice upon which to build the financial stability of a nation. So this may well take two decades to straigten out.
And without professional advice very difficult to provide for a retirement no matter who you are or what you do if not in top 1% of income earners and wealth holders.
We seem to have many stupid policies, stupid people and on top of that corruption that no one is willing to unearth. Matt Taibi of Rolling Stone no longer has humor in his writing but instead a deep-seated anger that the system not only does not work for average JOE and Sally but few steps are being taken to prevent continued descent by most Americans into what apparently is capitalism needed underclass. But unlike prior eras now the basics of disclosure that would allow reform are denied to progressive politicians and their followers. WE do live in a complex world. Blaming the unions on a lowered standard of living generally in the US seems ridiculous but then no one is arguing that the unions have the flexibility needed to protect all the sectors of the economy.
And events may well get in the saddle and ride right over US interests and policies. Now being revealed that OBAMA wisely asked for a classified review of autocracy in Arabia and perhaps elsewhere last August. Problem is there were no evident policy adjustments to the report. When you have immensely important geographic areas collectively led by octogenerians how could you not be prepared for their sudden departure? Yet apparently the policy cubboard remains empty.
While some may wait for proof that President Obama was not born in the US and is a MUSLIM I would argue it makes no difference. Instead we need will power to deal with US problems and that is sadly lacking in Washington. Hey they are all very comfortable in their current habits and lifestyle so why not just wait and see if the tumbrels of elections roll?