Totally Eff’ed In the Dark
The wrecked economy that Prznint Stupid and the GQPers left for the Democrats to clean up is pretty significantly, um, wrecked:
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.