The Miracle of the Trump Economy

Totally Eff’ed In the Dark

It’s a fixer-upper with potential.

The wrecked economy that Prznint Stupid and the GQPers left for the Democrats to clean up is pretty significantly, um, wrecked:

At least 1 million Americans have filed for unemployment every week for 46 weeks

More than 1 million Americans filed first-time unemployment claims for the 46th consecutive week last week, the Labor Department reported.

Why it matters: There is no historical precedent for the ongoing rate of job losses in the U.S.

  • The country is now just six weeks from going a full year with more than a million people filing for unemployment every week.
  • Prior to the coronavirus pandemic, the U.S. had seen 1 million unemployment claims reported just once in the history of the Labor Department’s data — the week ending Jan. 9, 1982, when 1,073,500 claims were filed.

Also from Axios in another article (emphasis mine): “At January’s pace of 49,000 jobs per month, it would take 200 months — almost seven years — to regain the level we saw a year ago.”

In other words, it’s not just stimulus that we need. It’s safe to say that demand is there (a year of being unemployed will do that), it’s the jobs that are not. This is a generational crisis. We need to roll-back 40 years of VooDoo economics and start investing in new industries. While there are certainly training opportunities for former buggy-whip employees, not everyone is going to end up as a programmer. It’s stupid to assume that.

As much as I love efficiency, maybe we should have some limits on automation? I’m not an economist, I dunno what the answer is, I just know that what we’ve been doing pretty much my entire adult life is not working.

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8 Responses to The Miracle of the Trump Economy

  1. Over at Eschaton the proprietor mentioned that we’re now going almost a year with weekly new unemployment claims being higher than they were at the worst of the increasingly misnamed “Great Recession”

    https://www.eschatonblog.com/2021/02/thursday-is-new-jobless-day.html

    Liked by 2 people

    • I am thinking we need another public works program, as was created during the Great Depression of the 1930’s. Fifteen dollars an hour to fix up National Parks, build things, whatever is needed, hell, there’s infrastructure projects wanting to be built!

      Liked by 3 people

      • R White says:

        That would take a leader(s) who not only had a spine to call out the given obstruction from morally bankrupt republicans, their inbred wealthy financiers along with their redneck asshole base, but leaders with a sound vision that flips the script of austerity in favor of Keynesian policies like those that invest heavily in communities & community outreach.

        Sadly the right wing anger media machine helped along with the worthless beltway media would destroy the character of any individual willing to take up such an Herculean effort that they in the media cannot profit from. This failed state is well on its way to irrelevancy a few financial insolvency.

        Liked by 1 person

  2. One phenomenon I observed is the increasing generosity of food stamps, via the SNAP (Supplemental Nutrition Assistance Program) card around here in Wisconsin. The benefit may not be shared, and it cannot buy anything but food…no liquor or tobacco. This is trickle-up economics, folks!

    Liked by 2 people

  3. Stony Pillow says:

    How about covering some of the social costs of our current economy?

    Take tires, as an example. Adding on a $20 deposit on every tire sold starting tomorrow, with the deposit less than the cost of recycling refunded on the return of the used tire? All you’d have to change in the manufacturing process is add a molded-in ID code or chip it to be punched in or scanned to prevent theft.

    The initial surge of $ could be used to build up recycling factories.

    An enormous environmental cost evaded, jobs added.

    You’re welcome. More thought like this, pls.

    Like

  4. Dennis Cole says:

    Reduce the Pentagon’s budget by 10% a year, for the next however many years it takes, in order to begin some form of UHC, and to begin major infrastructure repairs. If there’s nothing left of or in America to “protect,” then why do we need such a large military force? Imperialistic Adventurism and Interventions need to be curtailed severely, along with the construction of behemoth naval warships, and “invisible” jet-fighters that are not only obsolete, but pretty much useless in terms of modern warfare.

    It’s been estimated that there are currently around 18 million unoccupied dwellings in the US, and that there are approximately 6 million homeless, so even though not every one of those homes is not immediately “move-in ready,” prepping them would put a lot of people back to work, and would help house the homeless, while boosting the Economy significantly, because it’s been estimated that every dollar invested in restoring and rebuilding vital areas brings a return of up to SEVEN dollars, with a minimum ROI of $2 – $3 Ameros.

    (To dream the impossible dream…)

    Like

  5. AND YET … I heard this rich F*ker (who’s on his way to the Superbowl) complaining about how the stock market is sure to crash now that trump is out of office … “time to cash in” he was saying. Because the economy was SO strong with trump in office. & it never is with a DEM in the WH. There’s no hope for these people. Living in their padded (cell) worlds.

    Liked by 1 person

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