Thread Depression: By the numbers...

Atan Nolme

Flaccid Member
Oct 14, 2004
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Karningul,Eriador, Endor
Propublica allows full reproduction with links and attribution.

http://www.propublica.org/article/our-sputtering-economy-by-the-numbers-poverty-edition

"Our Sputtering Economy by the Numbers: Poverty Edition."


The number of Americans earning below the poverty line in 2010: 46.2 million people
Official U.S. poverty rate in 2007, before the recession: 12.5 percent
Official U.S. poverty rate in 2009: 14.3 percent
Official U.S. poverty rate in 2010: 15.1 percent
Last time the poverty level was this high: 1993
Poverty line in 2010: $22,314 for a family of four, or $11,139 for an individual
Rough amount people in poverty are living on per week: $200 or less
Poverty rate in the American suburbs: 11.8 percent, the highest since 1967
Percentage of the population making less than half the poverty line in 2010: 6.7 percent
Percentage of the population making less than half the poverty line in 2007, before the recession: 5.2 percent
Poverty rate for white Americans in 2010: 13 percent
Poverty rate for African Americans in 2010: 27.4 percent
Real median household income in 2010: $49,445
Decline in median household income since 2009: 2.3 percent
Decline in median household income since before the recession: 6.4 percent
The last time median household incomes have been this low: 1996
Real median household income in 1999, in 2010 dollars: $53,252
Median income for full-time male workers in 2010: $47,715
Median income for full-time male workers in 1973, in 2010 dollars: $49,065
Official unemployment rate in August 2011: 9.1 percent
Total number of unemployed people in August: 14 million
Number of people who were employed part-time for economic reasons in August 2011: 8.8 million
Number of people not counted in the labor force who wanted work: 2.6 million
Net jobs created in August 2011: 0
Total number of long-term unemployed people as of August 2011: 6 million
Number of unemployed workers per job opening, as of July 2011: About 4.34 (3.2 million openings and 13.9 million unemployed people in July 2011)
Total number of uninsured Americans in 2010: 49.9 million
Percentage of Americans who didn't have health care in 2010: 16.3 percent
Percentage of Americans who didn't have health care in 2007, before the recession: 15.3 percent
Percentage of children who were uninsured in 2010: 9.8 percent
Percentage of children in poverty were are uninsured in 2010: 15.4 percent
Percentage of American households that had enough to eat throughout the year in 2007: 88.9 percent
Percentage of American households that had enough to eat throughout the year in 2010: 85.5 percent


maobama_trickle_up_poverty.jpg
 

water

Flaccid Member
Oct 29, 2004
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This is an outrage! How am I gonna pay my bills!

*posted from my expensive smart phone with equally expensive data plan
 

Duke

. . first name's "Daisy" boys
May 12, 2008
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If we kill off all the poor people, we won't have a jobless issues, and the economy gets better automatically.

Couple nights of hardship pays for decades of good times.
 

b_sinning

Erect Member
Nov 22, 2004
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I dislike Obama but any president that got elected for this term and the next would be stuck with a depression on their hands due to the collapsing and corrupt economic structure. Depressions and recessions are part of the cycle. You can't have the highs without the lows.
 

Atan Nolme

Flaccid Member
Oct 14, 2004
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Karningul,Eriador, Endor
I dislike Obama but any president that got elected for this term and the next would be stuck with a depression on their hands due to the collapsing and corrupt economic structure. Depressions and recessions are part of the cycle. You can't have the highs without the lows.

Tell that to The Federal Reserve Board of Governors. They think they are smart enough to out wit normal economic cycles.
 

ZRH

(retired?) Google-F.U.
Mar 5, 2005
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Depressions and recessions are part of the cycle. You can't have the highs without the lows.
If you really believed that, there would be no such thing as "too big to fail" because failed businesses are supposed to die to make room for more efficient ones.
 

Casper

Bobbert Cheapstein
Oct 6, 2009
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I don't think that logic follows. While bankruptcies are common in recessions, it's not given. They don't have to happen.
 

ZRH

(retired?) Google-F.U.
Mar 5, 2005
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I don't think that logic follows. While bankruptcies are common in recessions, it's not given. They don't have to happen.
Was just thinking in general terms of efficient markets. Detailed macroeconomics is teh bleh. Austrian theory about business cycles is that overextension of credit by banks causes it. Having the banks take on no risk (to obig to fail) would just magnify it.
 
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Casper

Bobbert Cheapstein
Oct 6, 2009
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This morning I woke up and the markets were doing well. Then EOD, QUICKLY EVERYONE BACK TO YOUR BUNKERS. RECESSION IS BACK ON! :tard:
 

ZRH

(retired?) Google-F.U.
Mar 5, 2005
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I know. In case you hadnt noticed, that's exactly whats been going on for like 3 weeks now. They keep saying there is investor fear of Europe... It's like if they say it enough, it will be true.
 

Sarcasmo

A Taste Of Honey Fluff Boy
Mar 28, 2005
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Greece is having problems with olive oil exports or something. I don't know, I wasn't really listening. They're doing something.
 

Casper

Bobbert Cheapstein
Oct 6, 2009
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Was just thinking in general terms of efficient markets. Detailed macroeconomics is teh bleh. Austrian theory about business cycles is that overextension of credit by banks causes it. Having the banks take on no risk (to obig to fail) would just magnify it.

Banks are hard to regulate because they innovate in the securities market to create obscure instruments to bet with. Regulations will probably always be a step behind, because regulation is enacted in response to failures, never ahead of them. If regulation was innovative and proactive Wall Street would call the regulations overbearing causing investor angst with the government. Regulatory agencies also don't attract the brightest folks, since that's not where the money is.
 

b_sinning

Erect Member
Nov 22, 2004
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Savannah, GA
If you really believed that, there would be no such thing as "too big to fail" because failed businesses are supposed to die to make room for more efficient ones.

Too big to fail was a concept created by people whose companies were about to fail.
 

Casper

Bobbert Cheapstein
Oct 6, 2009
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I would go as far as to say that bank lending didn't get us in this mess. It's the proprietary trading using those deposits that gets them in hot water.