Housing, Job Creation & GDP
The Nattering One muses... been bangin this drum all along.
75% to 80% of all new job "growth" since 2001 is attributed to the housing sector (60% direct, 20% indirect services) and 66% of GDP is attributed to consumer spending.
Price stagflation being masked as economic "growth", negative job base erosion being passed off as McJobs growth...
Less jobs, less well paying jobs, more layoffs, no MEW (mortgage equity withdrawal) or housing ATM, reduced real consumer spending...
A debt driven service and finance based, outsourced to labor at the margin, emasculated economy with little durable economic activity to fall back on...
Add in a banking and financial sector ponzi scheme (toxic debt & derivatives) collapse of unprecedented magnitude.
You do the math, because like this fundamentally unsound faux economy and its illusory sense of well being, just stick a fork in me, I'm done....
A Curious Naybob enquired as to why I usually don't reference my sources. My response was I usually do, but I may not include URL's as it takes time.
So here are not one, but three sources for the job growth estimates: Washington Post, The Hill and American Progress.
Indignance... Flashback, its 1995, if you submitted a transcript of what has occured under the neo con republicans between 2000-2007 as a screenplay...
Shrub Jr. "elected" twice, Twin Towers, Iraq War, Patriot Act, search, seizure, torture and indefinite detention without cause, economic emasculation, etc.
Working title: Ascendancy of the House of Finance or Bush League Terrorist Financiers or Greedy Global Rapists & Arrested Capitalism...
The film execs would laugh you and your implausible tragic comedy right out of the room.
So, in my best Flatbush accent... What Lady? You think I make this shit up as I go along? Nah, Nah, Nah, its Joe Friday all the way baby, Just the Facts Ma'am!
No striking screenwriter, nor Rod Serling himself could conjure up this theatre of the absurd...
And it's happening in broad daylight, right in front of 300 Million blind people. Proving that truth is stranger than fiction.
75% to 80% of all new job "growth" since 2001 is attributed to the housing sector (60% direct, 20% indirect services) and 66% of GDP is attributed to consumer spending.
Price stagflation being masked as economic "growth", negative job base erosion being passed off as McJobs growth...
Less jobs, less well paying jobs, more layoffs, no MEW (mortgage equity withdrawal) or housing ATM, reduced real consumer spending...
A debt driven service and finance based, outsourced to labor at the margin, emasculated economy with little durable economic activity to fall back on...
Add in a banking and financial sector ponzi scheme (toxic debt & derivatives) collapse of unprecedented magnitude.
You do the math, because like this fundamentally unsound faux economy and its illusory sense of well being, just stick a fork in me, I'm done....
A Curious Naybob enquired as to why I usually don't reference my sources. My response was I usually do, but I may not include URL's as it takes time.
So here are not one, but three sources for the job growth estimates: Washington Post, The Hill and American Progress.
Indignance... Flashback, its 1995, if you submitted a transcript of what has occured under the neo con republicans between 2000-2007 as a screenplay...
Shrub Jr. "elected" twice, Twin Towers, Iraq War, Patriot Act, search, seizure, torture and indefinite detention without cause, economic emasculation, etc.
Working title: Ascendancy of the House of Finance or Bush League Terrorist Financiers or Greedy Global Rapists & Arrested Capitalism...
The film execs would laugh you and your implausible tragic comedy right out of the room.
So, in my best Flatbush accent... What Lady? You think I make this shit up as I go along? Nah, Nah, Nah, its Joe Friday all the way baby, Just the Facts Ma'am!
No striking screenwriter, nor Rod Serling himself could conjure up this theatre of the absurd...
And it's happening in broad daylight, right in front of 300 Million blind people. Proving that truth is stranger than fiction.
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