170 Million Jobs Lost Due to Sequestration

Other discussions not related to the Permanent Portfolio

Moderator: Global Moderator

Post Reply
notsheigetz
Executive Member
Executive Member
Posts: 684
Joined: Mon Aug 06, 2012 5:18 pm

170 Million Jobs Lost Due to Sequestration

Post by notsheigetz »

This is the most dire prediction I've heard yet about the effects of the so-called Sequestration budget "cuts" (which I have come to understand is the usual Washington talk about "cuts' - meaning the budget won't be increased quite as much as the democrats want it to be increased).

170 Million Jobs? Isn't that about all of them? Better crank up the printing presses so they can pay the unemployment checks.

http://nation.foxnews.com/jobs/2013/02/ ... uestration
Last edited by notsheigetz on Thu Feb 28, 2013 5:24 pm, edited 1 time in total.
This space available for rent.
User avatar
MachineGhost
Executive Member
Executive Member
Posts: 10054
Joined: Sat Nov 12, 2011 9:31 am

Re: 170 Million Jobs Lost Due to Sequestration

Post by MachineGhost »

Only a devout Socialist would spread such lies and propaganda (and only Fox would give it airtime).
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes

Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet.  I should not be considered as legally permitted to render such advice!
RuralEngineer
Executive Member
Executive Member
Posts: 686
Joined: Wed Oct 24, 2012 10:26 pm

Re: 170 Million Jobs Lost Due to Sequestration

Post by RuralEngineer »

They had someone from Europe do the report and using the comma instead of a period confused Fox.
User avatar
MediumTex
Administrator
Administrator
Posts: 9096
Joined: Sun Apr 25, 2010 11:47 pm
Contact:

Re: 170 Million Jobs Lost Due to Sequestration

Post by MediumTex »

I think that number is pretty solid.

What they have apparently done is take the immediate job cuts that would result from sequestration and then projected all of the descendants of those unemployed people from now until the end of time also being unemployed in a sort of "original sin" conception of unemployment.

Also, I think that they are picking up some unemployment projections from other planets due to intergalactic economic development that won't occur as a result of sequestration.

;)
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
User avatar
Pointedstick
Executive Member
Executive Member
Posts: 8885
Joined: Tue Apr 17, 2012 9:21 pm
Contact:

Re: 170 Million Jobs Lost Due to Sequestration

Post by Pointedstick »

I think the big fear is that the cuts will happen and nobody will even notice. That's why they're all trying to fill our minds with stories of terrible things that will come to pass.
Human behavior is economic behavior. The particulars may vary, but competition for limited resources remains a constant.
- CEO Nwabudike Morgan
User avatar
MediumTex
Administrator
Administrator
Posts: 9096
Joined: Sun Apr 25, 2010 11:47 pm
Contact:

Re: 170 Million Jobs Lost Due to Sequestration

Post by MediumTex »

Pointedstick wrote: I think the big fear is that the cuts will happen and nobody will even notice. That's why they're all trying to fill our minds with stories of terrible things that will come to pass.
It reminds me of the age old question: "If a mime pretends to cut down a tree and nobody sees him, should he make a sound?"
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
dragoncar
Executive Member
Executive Member
Posts: 1111
Joined: Wed Aug 10, 2011 7:23 pm

Re: 170 Million Jobs Lost Due to Sequestration

Post by dragoncar »

MediumTex wrote:
Pointedstick wrote: I think the big fear is that the cuts will happen and nobody will even notice. That's why they're all trying to fill our minds with stories of terrible things that will come to pass.
It reminds me of the age old question: "If a mime pretends to cut down a tree and nobody sees him, should he make a sound?"
No, because a blind guy might hear.
User avatar
moda0306
Executive Member
Executive Member
Posts: 7680
Joined: Mon Oct 25, 2010 9:05 pm
Location: Minnesota

Re: 170 Million Jobs Lost Due to Sequestration

Post by moda0306 »

Pointedstick wrote: I think the big fear is that the cuts will happen and nobody will even notice. That's why they're all trying to fill our minds with stories of terrible things that will come to pass.
As a quasi-Keynesian, I'll fully admit that at the numbers they're talking about that people won't really notice (with the exception of this directly affected by the lowered cash-flow.

For those not directly affected, many of them will continue to remain un/under-employed, and probably won't notice much.  And this will be more prevalent for longer than if spending were higher and taxes were lower.
"Men did not make the earth. It is the value of the improvements only, and not the earth itself, that is individual property. Every proprietor owes to the community a ground rent for the land which he holds."

- Thomas Paine
clacy
Executive Member
Executive Member
Posts: 1128
Joined: Mon Mar 14, 2011 8:16 pm

Re: 170 Million Jobs Lost Due to Sequestration

Post by clacy »

It's quite a statement about the US electorate that someone as dumb as Maxine Waters can be elected (even more so that she is re-elected). 

I feel she has to be close to the "special needs" category.
User avatar
Tyler
Executive Member
Executive Member
Posts: 2072
Joined: Sat Nov 12, 2011 3:23 pm
Contact:

Re: 170 Million Jobs Lost Due to Sequestration

Post by Tyler »

clacy wrote: It's quite a statement about the US electorate that someone as dumb as Maxine Waters can be elected.
Reminds me of Rep. Frank Johnson expressing concern that Guam will tip over and capsize because of overpopulation.

http://www.youtube.com/watch?v=c7m6aewquco
User avatar
moda0306
Executive Member
Executive Member
Posts: 7680
Joined: Mon Oct 25, 2010 9:05 pm
Location: Minnesota

Re: 170 Million Jobs Lost Due to Sequestration

Post by moda0306 »

clacy wrote: It's quite a statement about the US electorate that someone as dumb as Maxine Waters can be elected (even more so that she is re-elected). 

I feel she has to be close to the "special needs" category.
We did elect W as president.... twice.  It doesn't surprise me that one district of the US could elect someone as dumb as her.
"Men did not make the earth. It is the value of the improvements only, and not the earth itself, that is individual property. Every proprietor owes to the community a ground rent for the land which he holds."

- Thomas Paine
User avatar
Bean
Executive Member
Executive Member
Posts: 389
Joined: Mon May 28, 2012 10:30 pm

Re: 170 Million Jobs Lost Due to Sequestration

Post by Bean »

I maintain we have an epidemic of stupid.

Proof: http://youtu.be/cesSRfXqS1Q

This man gets to vote on federal law and was reelected with over 75% of the vote...
“Let every man divide his money into three parts, and invest a third in land, a third in business and a third let him keep by him in reserve.� ~Talmud
User avatar
AdamA
Executive Member
Executive Member
Posts: 2336
Joined: Sun Jan 23, 2011 8:49 pm

Re: 170 Million Jobs Lost Due to Sequestration

Post by AdamA »

Bean wrote: I maintain we have an epidemic of stupid.

Proof: http://youtu.be/cesSRfXqS1Q

This man gets to vote on federal law and was reelected with over 75% of the vote...
Is that real???!!!

If so, it is outstanding. 
"All men's miseries derive from not being able to sit in a quiet room alone."

Pascal
User avatar
Bean
Executive Member
Executive Member
Posts: 389
Joined: Mon May 28, 2012 10:30 pm

Re: 170 Million Jobs Lost Due to Sequestration

Post by Bean »

AdamA wrote:
Bean wrote: I maintain we have an epidemic of stupid.

Proof: http://youtu.be/cesSRfXqS1Q

This man gets to vote on federal law and was reelected with over 75% of the vote...
Is that real???!!!

If so, it is outstanding.
Yeap, he also suggested "corking" Mount St. Helens.
“Let every man divide his money into three parts, and invest a third in land, a third in business and a third let him keep by him in reserve.� ~Talmud
User avatar
AdamA
Executive Member
Executive Member
Posts: 2336
Joined: Sun Jan 23, 2011 8:49 pm

Re: 170 Million Jobs Lost Due to Sequestration

Post by AdamA »

Bean wrote: Yeap, he also suggested "corking" Mount St. Helens.
That was my idea!
"All men's miseries derive from not being able to sit in a quiet room alone."

Pascal
User avatar
Pointedstick
Executive Member
Executive Member
Posts: 8885
Joined: Tue Apr 17, 2012 9:21 pm
Contact:

Re: 170 Million Jobs Lost Due to Sequestration

Post by Pointedstick »

Here's another great one:

https://www.youtube.com/watch?v=ospNRk2uM3U

Towering geniuses, these people.
Human behavior is economic behavior. The particulars may vary, but competition for limited resources remains a constant.
- CEO Nwabudike Morgan
Post Reply