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Crystallas
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Blame the 90s
Aug 5th, 2013 at 5:07am
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The new Neo-Keynesian talking point about the change of landscape in jobs worldwide.


Quote:
Diane Swonk, chief economist at Mesirow Financial, recalls that the robust economic growth of the late '90s generated millions of middle-class jobs. And it pushed unemployment so low that short-staffed companies were forced to convert part-time jobs into full-time ones.


That's right. Because that big dot com boom in the late  90s were so awesome for employment, we're paying for it now.  Roll Eyes

Swonk isn't the originator of this argument, I just happened to see it. Too bad for her, and people like her, the data in the marketplace has been able to narrow down action:reaction to the shifts in employment figures.
  
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Shiva_TD
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Re: Blame the 90s
Reply #1 - Aug 5th, 2013 at 7:56am
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I'm sorry but I must respectfully disagree.

From where I sit the problem originated in 1974 when the Federal Reserve Banks and the US Treasury refused to redeem Federal Reserve notes in lawful money in accordance with the provisions of Title 12 when the Emergency By Banking Act of 1933 was repealed under President Ford.
  
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LibertariCAN
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Re: Blame the 90s
Reply #2 - Aug 5th, 2013 at 11:32am
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Shiva_TD wrote on Aug 5th, 2013 at 7:56am:
I'm sorry but I must respectfully disagree.

From where I sit the problem originated in 1974 when the Federal Reserve Banks and the US Treasury refused to redeem Federal Reserve notes in lawful money in accordance with the provisions of Title 12 when the Emergency By Banking Act of 1933 was repealed under President Ford.


Let's go back a bit further and say these problems originated with the Federal Reserve. Period.
  

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Crystallas
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Re: Blame the 90s
Reply #3 - Aug 5th, 2013 at 2:40pm
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I hope nobody here actually agrees with blaming the 90s.

Even better suited, any of us that are Austrian Econs, don't believe it is any one problem, but many, and of course, central banks in most countries are the root cause to start the domino.
  
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keauxbi
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Re: Blame the 90s
Reply #4 - Aug 5th, 2013 at 5:47pm
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Crystallas wrote on Aug 5th, 2013 at 2:40pm:
I hope nobody here actually agrees with blaming the 90s.

Even better suited, any of us that are Austrian Econs, don't believe it is any one problem, but many, and of course, central banks in most countries are the root cause to start the domino.


I blame the 90's... the 1890's. Smiley

the 1890's gave rise to the progressive movement that beget Theodore Roosevelt who ran third party and thus elected Woodrow Wilson.  And the rest as they say is history. Grin
  

Keauxbi
"Anarchism is not a romantic fable but the hardheaded realization..."--Edward Abbey
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Crystallas
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Re: Blame the 90s
Reply #5 - Aug 5th, 2013 at 10:07pm
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keauxbi wrote on Aug 5th, 2013 at 5:47pm:
I blame the 90's... the 1890's. Smiley

the 1890's gave rise to the progressive movement that beget Theodore Roosevelt who ran third party and thus elected Woodrow Wilson. And the rest as they say is history. Grin



haha, fair enough
  
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